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Oil Theft: Navy Impound Three barges, Arrest Seven Suspects in Bayelsa

The Nigerian Navy has impounded three barges laden with suspected stolen crude oil and refined Automotive Gas Oil (AGO) ,arresting seven, at Tunu Community Creek, in Ekeremor Local Government Area of Bayelsa.
The Commander, Nigerian Navy Ship (NNS) SOROH, Commodore Nanmar Lakan told the News Agency of Nigeria (NAN) on Saturday that his command received an intelligence report on the illegal activities going on in the area and swung into action.
NAN reports that the seven suspects who were found on board the barges who claimed to be security working under Tunu leadership are kept under custody pending when the investigation is concluded.
According to Lakan, Shell Petroleum Development Company (SPDC) has complained of the loss of 25 percent of their daily production in the area to oil thieves.
He said he swung into action by sending his men on both air and water surveillance in the area and their efforts paid off as the barges were impounded by his officers and men.
According to the Commander, two of the barges have the capacities of containing 637,000 litres of the products each while the third can contain 700,000 litres of the products.
Lakan added that investigation is ongoing to ascertain the owners of the barges and where the products were meant to be discharged.
He warned those who indulge in such illegal activities of oil theft to desist from such illegitimate business, as the Nigerian Navy will not allow them to find peace. (NAN)
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June 12: Pay Abiola Family N45bn Debt, Lamido Tells Tinubu

By David Torough, Abuja
Former Governor of Jigawa State, Alhaji Sule Lamido has called on President Bola Tinubu to show courage by closing the chapter of June 12 once and for all.According to him, the payment of the N45 billion debt owed to the family of the late presumed winner of the June 12, 1993, presidential election, Chief Moshood Kashimawo Olawale (MKO) Abiola, would serve as a symbolic and moral closure to the June 12 struggle and Abiola’s unjust treatment following the annulment of the election, widely believed to have been won by the late business mogul.
The former Minister of Foreign Affairs made the call while delivering his closing remarks at the launch of his autobiography, “Being True to Myself,” held yesterday in Abuja.“When (General) Murtala (Muhammed) died, Abiola came in with a claim that he was owed, I think, about N45bn for contracts executed by International Telephone and Telecommunication for the Ministry of Communications. The military high command at that time said no.“He went around the Emirs in the North to lobby, and the Emirs asked that they (the military) should please pay the money. They (the military) said they annulled the June 12 elections because if they made him President, he would take his money, and the country would become bankrupt. Those who were close to Abacha should know this because Abacha was then one of the big shots; they were all aware.”“Before I end my remarks, I want to appeal to President Tinubu to finally close the chapter of June 12. In his book, General Ibrahim Babangida acknowledged that Abiola won the election. When I visited him, he also confirmed that Abiola is owed N45 billion. He was doubly punished: first, denied the presidency; second, denied what is owed to him.”Lamido urged the Minister of Information and National Orientation, Muhammad Idris Malagi, who represented President Tinubu at the event, to deliver the message to the President.“Please tell the President to pay the Abiola family the N45 billion. Once this is done, the June 12 chapter will be closed. It is very important,” he stated.COVER
Stable Electricity: Nigeria Needs $10bn Investment Annually for 10 years — FG

By David Torough, Abuja
The Minister of Power, Adebayo Adelabu has stated that for Nigeria to achieve functional, reliable, and stable electricity, the country requires no less than 10 billion dollars annually for the next ten to twenty years.Adelabu made the disclosure yesterday during the commissioning of the 600kW and 3MW Solar PV Power Plant at the Nigerian Defence Academy, Kaduna.
He maintained that there are foundational bottlenecks that have been experienced in the past, which must be addressed for this level of investment to be meaningful. “Number one is the legislative and policy foundation, which this administration has achieved by signing the Energy Bill into law.“This bill has ensured the liberalisation and decentralisation of the power sector, enabling all levels of government to legally and morally play roles in the power sector for the benefit of their citizens at sub-national levels.“This has granted autonomy to more than eleven states, with more expected to follow. These states can now participate in the power sector, from generation to transmission, distribution, and even metering.”“Secondly, we must address the infrastructure deficit, which has accumulated over the last 60 years due to a lack of maintenance and insufficient investment to revitalise our transmission grid.”The Minister also emphasised the need to bridge the over 50 percent metering gap, stating that the Presidential Initiative aims to achieve this through the installation of 18 million meters over the next five years.He said the commissioning of the 600kW and 3MW Solar PV Power Plant at the prestigious Nigerian Defence Academy underscores the Federal Government’s resolve to tackle the electricity deficit.“These projects, implemented by the Federal Ministry of Power and the Rural Electrification Agency, not only underscore our commitment to improving electrification across key institutions in Nigeria, but they are also part of our broader mandate to diversify energy sources, expand access to clean and reliable electricity, and support critical sectors of national development, including education and security.“As an institution that combines academic rigour with military excellence, the Nigerian Defence Academy represents a strategic national asset that must be strengthened through sustainable infrastructure.“Powering the Academy with renewable energy aligns with our vision for a secure, self-reliant, and energy-efficient Nigeria.“It also reflects our commitment to President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises accelerated national development through universal energy access.”The Managing Director of the Rural Electrification Agency (REA), Abba Abubakar Aliyu, described the commissioning of the 2.5MW solar project as “a turning point in Nigeria’s journey towards energy access for learning institutions.”He noted that “the agency is not just commissioning a project, but rather commissioning social impact, research, and sustainable development.”COVER
Dangote Refinery Effects Another Reduction on Petrol from N835 to N825

By David Torough, Abuja
The Dangote Petrol-chemicals Refinery has effected another reduction in the ex-gantry price of its Premium Motor Spirit also known as petrol below the publicly announced N835 per litre.Sources confirmed on Monday that the refinery has reduced its price to N825 per litre for its customers, through a rebate of N10 after successful loading of products at the refinery.
The sources said marketers are still paying N835 per litre for products but receive a N10 refund after loading and evacuating them from the refinery. The covert price adjustment has allowed its customers and marketers to retail the product at a lower band of N830 to N835, outpricing importing marketers and private depot owners.The official said, “The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them.”Last month, the Dangote refinery effected a price reduction twice within the space of a week, crashing its gantry price by N45 from N880 to N835 per litre.This followed the restart and full implementation of the Naira-for-Crude agreement with local refiners after an earlier suspension.Efforts to get an official reaction from Dangote Spokesperson, Anthony Chiejina, on the price reduction were futile.