COVER
PDP Govs Tell Buhari to Sign New Electoral Bill
.Suspect the President Does not Desire a Credible Election
. Say INEC Bimodal Voter Accreditation System (BVAS) Machines Need Improvements
.Knock FG’s Subsidy Regime
By Jude Opara, Abuja
The Peoples Democratic Party (PDP) has told President Muhammmadu Buhari to stop further delay and grant his assent to the re-amended Electoral Amendment Bill that is currently before him.
This was part of the resolutions reached at the end of the meeting of the governors elected on the platform of the main opposition party, under the aegis of the PDP Governors Forum yesterday at Government House in Yenagoa, the capital of Bayelsa State.
The PDP Governors noted that the President can sign the Bill into law and then raise any issue, instead of the practice of allowing time to elapse before returning it to the National Assembly for any possible amendment.
The PDP governors reviewed the state of the nation and the party’s preparedness to rescue the country from the alleged bad leadership of the All Progressives Congress (APC).
The governors in a communique issued at the end of the meeting, urged “President Buhari to immediately sign the Electoral Act Amendment Bill into law. Waiting to run out the 30 days is yet another sign of unwillingness by Mr President to give Nigeria a reformed Electoral framework. If there are still misgivings on any aspect of the Bill Amendments may be introduced at a later stage.”
The Governors also congratulated their party on winning 43 out of 62 councillorship positions in the just conducted Abuja Area Council election results.
However, they regretted that in spite of improvements in the conduct of elections, the Gwagwalada and Abuja Area Council results show that manipulations are still possible, hence the charge on the Independent National Electoral Commission (INEC) to tighten all observed loopholes and further improve on the functioning of the Bimodal Voter Accreditation System (BVAS) Machine for future elections.
Furthermore, the opposition governors also urged the National Assembly to use its remaining time to ensure a proper devolution of more powers to the states and local government areas.
“As the National Assembly winds down this current phase of the Constitution Review exercise, the Forum urged that they revisit the issue of devolution of more powers to the States and Local Governments.
“This opportunity to rejig the framework for policing and securing Nigeria should not be missed. To this end, the Forum would set up a Panel of Consultants to have a thorough look at the security architecture of Nigeria and make recommendations.”
The Governors also expressed their displeasure on the issue of contaminated Fuel supplied to Nigerians and urged government to bring perpetrators to account.
“The Governors frowned at the duplicity, inconsistency, insincerity of the APC-led Federal Government on the fuel subsidy regime, which has been badly and corruptly administered. The figures of consumption and ascribed to Nigerians appear fictitious and bloated. They called for proper investigation to be conducted on this matter.”
However, the Forum welcomed the Court decision on Police Trust Fund deductions from the Federation Account, a suit at the instance of Rivers State and urged the Federal Government to stop similar unconstitutional deductions from the Federation Account.
“In the same vein, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) should expedite action on the new Revenue Allocation formula in such a way as to increase allocation to States and Local Government.”
The Forum equally took a swipe at the APC administration over the way the Central Bank of Nigeria (CBN) is operating allegedly as a parallel government, saying it is time to streamline its functions and processes to be constitutionally compliant.
They also weighed in on the operations of the Nigerian National Petroleum Corporation ( NNPC), describing it as opaque. Therefore, they called for accountability and reconciliation of NNPC remittances into the federation account.
At the meeting were 11 governors including the Vice Chairman, Gov. Okezie Ikpeazu of Abia State who presided over the meeting.
By Attah Ede, Makurdi
In a bold move to tackle the growing menace of drug abuse among young people, the Minister of Education, Dr. Tunji Alausa, has approved the implementation of mandatory drug integrity testing for students in Nigeria’s tertiary institutions.This initiative, announced after a strategic meeting with the Chairman of the National Drug Law Enforcement Agency (NDLEA), Brig.
Gen. Buba Marwa (retd), will apply to both new and returning students through compulsory and random testing.The development is part of a comprehensive three-pronged strategy proposed by the NDLEA, which includes curriculum reform to introduce up-to-date drug education in schools, stand-alone drug abuse prevention programs at the secondary level, and a national student drug testing policy.According to NDLEA spokesman, Femi Babafemi, over 40,000 drug offenders have been arrested and more than 5,500 metric tonnes of narcotics seized in the last two years alone.Marwa emphasized the urgent need for this initiative, stating that drug use fuels criminal activities including terrorism, kidnapping, and banditry.“We are fighting for the souls of our children. Without drugs, many criminal activities would not be possible,” Marwa declared.Dr. Alausa acknowledged the devastating effects of drug abuse on academic performance and employability, describing it as a major threat to national development.“When youths get into drugs, they lose interest in education. Even if they attend school, they’re not functional. Their ability to make informed life decisions is diminished, making them unemployable,” Alausa warned.To institutionalize the reforms, the minister announced the establishment of a Substance Use Prevention Unit in the ministry and the formation of an inter-ministerial working group with the NDLEA. He also committed to collaborating with the Universal Basic Education Commission and the Tertiary Education Trust Fund to support the NDLEA Academy in Jos.Meanwhile, in Makurdi, Benue State, a different kind of crisis is unfolding. No fewer than 76 nursing students at the Benue State University (BSU) were forcefully evicted from their hostels on Thursday, following a dispute over increased accommodation fees.The students, who were relocated from the main campus to the dilapidated facilities of the former School of Nursing and Midwifery, said they were asked to pay N30,000 per bed space, double the N15,000 charged at the main hostels.According to them, the eviction came without prior notice, even as the students were in the middle of their first semester exams and preparing for their clinical postings slated for August 11.Many of them, coming from distant states such as Lagos, Kaduna, and Abuja, were left stranded on the streets with their luggage and no alternative accommodation.Acting President of the Benue Schools of Nursing and Midwifery Alumni Association and media aide to the State NANNM Chairman, Mhange Moses, condemned the action as harsh and insensitive.“This is a shameful treatment. These students live in appalling conditions — no water, no electricity, broken toilets. Now they are being thrown out with no place to go. The nursing college is at risk of losing accreditation, and the students’ futures are in jeopardy,” Moses lamented.He appealed to Governor Hyacinth Alia to intervene urgently and provide a safe and conducive learning environment.“Nurses are the custodians of public health. They deserve better. We appreciate the governor’s efforts in upgrading the institution, but he must act now to prevent further damage,” Moses urged.As the federal government ramps up its fight against drug abuse in tertiary institutions, the plight of these nursing students highlights another pressing issue in the education sector—access to basic, dignified living conditions while pursuing academic and professional training.
By Tony Obiechina, Abuja
FCMB Group Plc has announced its financial results for the half-year period ended June 30, 2025, recording gross earnings of N529.2bn, representing a 41.3 percent increase compared to N374.5bn posted in the corresponding period of 2024.In its unaudited financial statements for the period ended March 31, 2025, and filed with the Nigerian Exchange Limited on Tuesday, the growth was primarily driven by a 70.
3 percent surge in interest and discount income, which rose to N458. 4bn from N269.2bn in H1 2024. This strong performance reflects improved yields on earning assets and expansion in the Group’s loan book, which reached N2.38tn as of 30 June 2025.Net interest income climbed to N207.4bn, up 95.3 percent from N106.2bn in the same period last year. Despite this, interest expense rose by 54.1 percent to N251.0bn, compared to N163.0bn in 2024.Net fee and commission income also rose significantly by 51.3 percent to N37.9bn from N25.1bn. This growth was aided by a 30.9 per cent rise in fee and commission income to N47.4bn, even as fee and commission expenses fell by 14.9 per cent to N9.5bn.However, net trading income declined by 29.3 per cent to N22.2bn from N31.4bn, while other gains fell sharply to N696.3m from N37.1bn, reflecting lower revaluation and disposal gains on financial instruments.Operating expenses increased across the board. Personnel expenses rose 34.4 percent to N48.3bn, and depreciation and amortisation grew 24.8 per cent to N8.1bn, while general and administrative expenses jumped 59.4 per cent to N57.2bn. Other operating expenses rose 49.4 per cent to N39.6bn.Despite these cost increases, the Group delivered a profit before tax of N79.1bn, a 23.2 per cent rise from N64.2bn in H1 2024. After tax, profit stood at N73.4bn, reflecting a 23.4 per cent year-on-year growth from N59.5bn.Other comprehensive income for the period was N6.9bn, up from N24.8bn in the previous year. This brings total comprehensive income for the Group to N80.3bn for H1 2025, slightly below the N84.3bn reported in H1 2024, due largely to lower unrealised gains from foreign currency translation differences.Total assets as of June 30, 2025, stood at N7.54tn. Customer deposits rose 39.9 per cent to N4.54tn, while loans and advances to customers increased modestly to N2.38tn.
By David Torough, Abuja
The Nigerian National Petroleum Company Limited (NNPCL) has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, made the announcement during a company-wide town hall meeting at the NNPC Towers in Abuja, ending weeks of speculation over the future of the country’s most prominent state-owned refining asset.
A statement by the company management yesterday said, “The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.”He described selling the Port Harcourt Refining Company as “ill-advised and sub-commercial.”Ojulari’s remarks come amid rising public concern sparked by his earlier comments at the 2025 OPEC Seminar in Vienna, where he said “all options are on the table” regarding the future of Nigeria’s refineries.The statement triggered a wave of speculation that a sale might be imminent.He stated that the new position of the firm was not a shift. Rather, it is informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna and Warri refineries.The statement added, “The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery, before full completion of its rehabilitation, was ill-informed and sub-commercial.”Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery.”Thus, selling is highly unlikely as it would lead to further value erosion.”At the town hall, the Executive Vice Presidents presented progress reports from the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy businesses, highlighting operational achievements, ongoing reforms, and areas requiring attention.According to the statement, the announcement reinforces NNPC’s mandate as a strategic custodian of national energy infrastructure and reflects a firm resolve to deliver on the complete rehabilitation and long-term viability of Nigeria’s refineries.It also signals continuity in the Federal Government’s broader energy security objectives and a commitment to retaining critical assets under national control.Feedback during and after the session revealed a workforce energised and aligned with the leadership’s vision. Described as “reassuring,” “transformational,” and “sustainable”, the atmosphere reflected an optimistic outlook among employees and hopefulness about the company’s evolving strategic direction.“NNPC Ltd will continue to reposition itself as a commercially driven, professionally managed national energy company, grounded in transparency, focused on performance, and unwavering in its responsibility to its number one stakeholder group, Nigerians,” Ojulari concluded.The statement added that the declaration was received with applause from hundreds of staff attendees, who described the position as a renewed sense of business-focused direction across the organisation.NNPCL Drills Four Oil Wells in Kolmani, BauchiA Director at the Nigerian National Petroleum Company Ltd, Yusuf Usman, said the company has drilled four oil wells in the Kolmani area of Bauchi State.He also restated the commitment of the company to the exploration and development of oil and gas resources in the northern region of the country.Usman said this on Wednesday in Kaduna at the Sir Ahmadu Bello Memorial Foundation’s two-day interactive Session on Government-Citizens Engagement.Usman stated, “So far, the NNPCL has drilled four wells in the Kolmani area of Bauchi State, and is currently evaluating the appropriate technology to be deployed for the next phase of drilling operations.“In support of President Tinubu’s Compressed Natural Gas (CNG) Initiative, five CNG and Liquefied Natural Gas (LNG) plants are under construction in Kogi.“These plants are expected to enhance gas supply and accessibility across the northern region.”Usman highlighted some of the achievements of the company under the Tinubu-led administration that benefited the north and other parts of the country.
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