The Onitsha North Local Government Council of Anambra on Sunday commenced the demolition of some marked illegal structures at the Onitsha Main Market.

Recall that Gov. Chukwuma Soludo of Anambra said demolition of the illegal structures was aimed at restoring the original master plan of the market and thereby, improve its economic activities.

The development followed an earlier statement issued by the council through the Office of the Local Government Chairman of Onitsha North, Anthony Nwora, dated Feb.

26, notifying affected traders and occupants of the planned demolition.

Nwora noted that the occupant were duly notified and the mission was to reclaim the original master plan, restore order for seamless trade and shop activities.

According to him, the council reminded owners and occupants of illegal structures located at Park 1, Park 2 and Park 3 of the Main Market, that the grace period granted to them had expired.

He explained that the Main Market, located in Onitsha, one of the largest commercial cities in southeastern Nigeria, had over the years,  faced challenges related to congestion and unapproved structures.

However, what sounds as a relief to the traders was a court injunction that restrained Soludo from demolishing the market, a ruling that brought relief and jubilation to traders.

Justice Joseph Nweze of the Anambra State High Court in his ruling, ordered all parties to maintain the status quo and refrain from any form of self-help.

He instructed the counsels to formally notify the Attorney General of the proceedings and adjourned the substantive hearing to March 16.

Lamenting the demolition, the affected traders said that the government did not obey court order which refrained it from demolition of their stores.

When contacted for comment, the Anambra Commissioner for Information, Dr Law Mefor, explained that the state government was not aware of any court injunction restraining it from demolishing illegal structures in the market.

According to him, the state government is not carrying out any demolition in Onitsha, it is being done by the Onitsha North Local Government.

By David Torough, Abuja

Nigeria moved to reposition its economy at the weekend with the signing of a landmark $1.3 billion alumina refinery agreement, even as escalating tensions in the Middle East threaten to send global oil prices soaring above $100 per barrel.

In Abuja, the Federal Government and the African Finance Corporation (AFC) sealed a Memorandum of Understanding to jointly finance three strategic mining projects, a $1.

3 billion alumina refinery, a nationwide geoscience mapping initiative and the establishment of a special investment vehicle to unlock mineral assets.

Minister of Solid Minerals Development, Dele Alake, described the agreement as “a landmark deal” that would transform the mining sector, deepen local value addition and significantly increase its contribution to Gross Domestic Product.

The refinery is designed to process approximately one million tonnes of bauxite annually using a modern Bayer-process flowsheet, supported by an on-site gas-fired cogeneration plant for steam and electricity. It is projected to operate for about 20 years at 95 per cent utilisation, producing an estimated 19 million tonnes of alumina over its lifespan.

Economic projections indicate an annual GDP contribution of $1.2 billion, over $25 billion in total economic value across the project lifecycle, and about $8 billion in foreign exchange earnings.

Executive Secretary of the Solid Minerals Development Fund, Fatima Shinkafi, described the transaction as the largest in the fund’s history, noting that the $1.3 billion capital expenditure signals renewed investor confidence in Nigeria’s mining reforms.

Beyond the refinery, the partners will embark on a comprehensive geoscience mapping exercise to generate credible data on Nigeria’s mineral deposits, long seen as a major constraint to large-scale investment. A joint strategic investment vehicle will also be created to accelerate exploration and development once mapping and feasibility studies are completed.

The signing ceremony was witnessed by AFC President and CEO, Samaila Zubairu, alongside senior government officials, reinforcing the administration’s push to diversify the economy away from crude oil and tap into deposits of bauxite, lithium, gold, iron ore and rare earth minerals.

However, while Nigeria seeks to reduce dependence on oil revenues, developments in the Middle East could once again underscore the economy’s vulnerability to global energy shocks.

Analysts predict oil prices will jump sharply when markets open following US and Israeli strikes against Iran, raising fears of a prolonged regional conflict. Brent crude, which traded above $72 on Friday, could surge to between $85 and $90 per barrel in early trading, according to energy analysts — with the possibility of breaching $100 if tensions escalate.

At the centre of concern is the Strait of Hormuz, the strategic maritime corridor that handles roughly 20 per cent of global oil consumption. While not formally closed, major shipping companies are reportedly suspending transit due to soaring insurance costs and security risks.

Energy consultancy Rystad Energy warned that a prolonged blockade could remove between eight and 10 million barrels per day of crude supply from global markets — a gap analysts say would be difficult to offset even with strategic reserves held by OECD countries.

The last comparable price spike occurred at the onset of the Russo-Ukrainian War, when crude surged above $100 per barrel, triggering global inflationary pressures.

Economists caution that sustained high oil and gas prices could dampen growth, raise inflation, and hurt sectors such as aviation, maritime transport and tourism. Gas markets are also expected to react strongly, given Qatar’s key role in global liquefied natural gas exports.

The potential energy shock presents a delicate balance for oil-importing nations and major economies heading into election cycles, as higher fuel costs threaten consumer confidence and economic stability.

For Nigeria, the refinery deal signals a long-term strategy to diversify and industrialise its solid minerals sector. Yet in the short term, the nation — like much of the world — may once again feel the ripple effects of turbulence in the global oil market.

Wheat farmers in Gombe State have lamented the impact of climate change on wheat cultivation in the state, amid poor harvest.

Chairman, Gombe Chapter of the Wheat Farmers Association Bala Garba, said yesterday that many members of the association were expecting poor harvest in the state.

Garba said that the impact of climate change was increasingly becoming unbearable for most wheat farmers who often cultivated the commodity in the dry season between October and March.

According to him, many farmers are expecting a poor harvest as they begin harvesting due to the delayed harmattan season this year.

”The situation can threaten the cultivation of wheat as many farmers who recorded losses are already planning to abandon the commodity.

”This year, we didn’t see harmattan like we usually experienced in the past which helps us to cultivate wheat.

”You know the harmattan season is a good period for wheat cultivation, because of its cool, dry, and windy conditions which provide the necessary environment for wheat growing under irrigation.

”But this year is different as we didn’t witness any harmattan until slightly in February; making wheat farmers to suffer huge losses due to poor yield.

”Over 2,000 wheat farmers that planted the crop this year are lamenting because it is certain they won’t get value for their investments.”

Garba said there was a need for relevant stakeholders and the government to support wheat farmers with a view to encouraging its cultivation in the future.

He also appealed to both the state and the Federal Government to support farmers with climate resilient inputs to enable them tackle the impact of climate change on agriculture.

He further called on farmers to embrace climate smart agriculture practices and to seek extension services before carrying out farming activities to minimise losses associated with climate change.