The Nigerian National Petroleum Company Limited has initiated fresh negotiations with the Dangote Petroleum Refinery over the renewal of the naira-for-crude agreement, as talks are underway in anticipation of the expiration of the initial deal, which ends on March 31, 2025.

The NNPCL disclosed this in a statement issued on Monday in response to claims that the government-owned oil company had suspended the naira-for-crude deal until 2030, as it has forward-sold all its crude oil.

This came as fresh findings by The PUNCH indicated that crude oil worth about N486.31bn was received by the $20bn Lekki-based refinery under the deal between October and December 2024.

Recall that on October 1, 2024, the government commenced the sales of crude oil in naira to local refineries to improve supply, save the country millions of dollars in petroleum product imports, and ultimately reduce the pump prices of refined products.

The NNPCL Chief Corporate Communications Officer, Olufemi Soneye, in the statement on Monday, explained that the initial deal was for six months, confirming The PUNCH exclusive report last year, adding that discussions for the renewal of the agreement are currently ongoing, with the aim of establishing a new contract.

He also stated that under the deal initiated in October 2024, the 650,000-capacity refinery has received 48 million barrels to refine for petroleum products, while a total of 84 million barrels has been supplied to the refinery since it commenced operations in 2023.

The spokesperson also clarified that the deal was subject to availability.

The statement read, “NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in naira between NNPC and Dangote Refinery.

“To clarify, the contract for the sale of crude oil in naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract.

“Under this arrangement, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC has made over 84 million barrels of crude oil available to the refinery since its commencement of operations in 2023.”

The national oil firm further reaffirmed its commitment to supplying crude oil for local refining based on mutually agreed terms and conditions. “

 Naira-for-crude policy intact

Similarly, the Chairman of the Technical Sub-Committee on the naira-for-crude deal, Zacch Adedeji, reaffirmed the government’s stance, emphasising that the termination of the contract was never a consideration.

He said there is substantial evidence supporting the policy as the correct approach and affirmed that it will continue to contribute positively to the nation’s economy.

“The policy framework enabling the sale of crude oil in naira for domestic refining remains in force. The initiative was designed to ensure supply stability and optimize the utilisation of local refining capacity. There has been no decision at the policy level to discontinue this approach, nor is it being considered. After implementing the policy for some months, evidence abounds that it is the right way to go, and it will continue to help the economy.

“The framework for domestic crude transactions is designed to promote a competitive and efficient pricing environment,” the Federal Inland Revenue Chairman said in an e-signed statement.

He also revealed that local refineries have not been excluded from domestic crude supply and the Nigerian Upstream Petroleum Regulatory Commission is actively ensuring compliance with the Domestic Crude Oil Obligations provisions of the Petroleum Industry Act.

“The engagement process for crude oil supply to domestic refineries therefore remains in place by structured agreements, balancing factors such as availability, demand, and market conditions. There is no exclusion of local refineries from access to domestic crude oil. The Nigerian Upstream Petroleum Regulatory Commission is actively ensuring compliance with the Domestic Crude Oil Obligations provisions of the Petroleum Industry Act.

“We remain committed to ensuring the efficient execution of this initiative in line with its core objectives – enhancing local refining, reducing foreign exchange exposure, and stabilising the domestic fuel supply,” he concluded.

Commenting on the ongoing contract renewal discussions, the Publicity Secretary of the Crude Oil Refinery-Owners Association of Nigeria, Eche Idoko, stated that the renewal was part of the original plan, emphasising that there have been no changes to the initial discussions.

However, he urged the government to honour its commitment to meeting the 27,000 barrels per day demand from modular refineries, stressing the importance of fulfilling this promise for the continued success of the industry.

Speaking in an interview, the publicity secretary said, “What the Federal Government said to us during our meetings last year was that they were going to start the pilot phase with Dangote, and when it ends, the second phase, which will start after March, will cover other refineries with a capacity of 27,000 barrels. The reason they started with Dangote was because they needed a refinery that could produce petrol, and only Dangote could do that.”

“But we also know that diesel is consumed by trucks that carry foodstuffs, which ultimately drives up the price of products, so modular refineries are important, and we really hope that they would fulfil that promise, as discussed, to include other refineries.”

He also highlighted the gains of the agreement, stressing that “We have seen a reduction in the price of products on one hand, and the naira has performed well against the dollar. Given this success, we are supposed to just enter the second phase and not say the government is renegotiating with Dangote. It is supposed to be with all the refineries.”

Meanwhile, an analysis of crude oil liftings obtained from the NNPCL monthly presentations at the monthly Federal Account Allocation Committee meetings between October 2024 and the last FAAC meeting held in February 2025 showed that the Dangote refinery received crude supply worth N486.31bn.

The national oil firm noted that the transactions were valued at $373.76m, and payments were made at an Afrexim Bank-advised exchange rate payable in naira, amounting to N486.31bn.

However, as of last month, the documents indicated that a total of $126.99m at an equivalent of N199.96bn was listed as obligations due for remittance and yet to be paid.

It further stated that all products were supplied to the refinery under a credit facility, with a payment due date set for 45 days from the date of barrel liftings.

It was observed that the crude oil figures were disclosed post facto, with the December data shared during the company’s last meeting in February 2025. The figures reported in January and February are expected to be presented to the FAAC committee during its meeting in March and April 2025.

The report revealed that on October 14, 2024, the $20 billion Lekki-based refinery received its highest allocation of crude oil, totalling 598,125 barrels. In contrast, on October 30, 2024, the refinery’s lowest allocation was 5,000 barrels. Additionally, the government only fulfilled its daily oil requirement on four occasions during this period.

A detailed breakdown of each transaction revealed that the first shipment, which was loaded onto the Sienna vessel carrying 100,000 barrels of crude oil, was received on October 14. This shipment was sold at a unit price of $78.56 per barrel, corresponding to invoice number PSC10.24.001. The total value of the transaction amounted to $7,856,870, which, when converted at N1,628, equals approximately N12.797bn.

The second transaction with invoice number PSC 10.24.002 was initiated on the same day with 598,125 barrels supplied. It was sold at a unit price of $78.56 per barrel with a dollar value of $46,993,903 and the equivalent of N76.54bn using an exchange rate of N1,635 per dollar.

The next allocation with invoice number PSC.10.24.009 was initiated on October 23, with 597,917 barrels delivered via vessel Sonangol Kalandula to the refinery. It was estimated at a unit price of $78.67 per barrel and a total value of $47,043,332 and naira equivalent of N77.64bn. An exchange rate of N1,650 was used for this transaction.

Similarly, a supply of 350,000 barrels was delivered on the same date at the same unit price and exchange rate. This transaction with invoice number PSC 10.24.008 was valued at $27,537,545 and a naira equivalent of N45.45bn.

The next day, October 24, another supply of 250,000 barrels was submitted at a unit price of $75.37 per barrel at a total cost of $18,844,675 and N30.814bn naira equivalent. An exchange rate of N1,635 was utilised for this transaction with invoice number PSC.10.24.018.

Also, the next allocation with invoice number PSC.10.24.017 was initiated on October 24, with 202,716 barrels delivered via vessel Constantios to the refinery. It was estimated at a unit price of $75.37 per barrel and a total value of $15,280,468 and naira equivalent of N24.98bn. An exchange rate of N1,635 was used for this transaction.

On October 30, the lowest supply of 5,000 barrels was submitted at a unit price of $78.18 per barrel at a total cost of $390,943 and N600.03m naira equivalent. An exchange rate of N1,534 was utilised for this transaction with invoice number PSC.10.24.013.

A summation showed that 2,103,758 barrels were supplied in the month of October. However, there was a significant decline in the supply during November, with only two transactions approved throughout the entire month.

Both transactions occurred on November 4, 2024, with a combined supply of 798,374 barrels of crude oil. The unit price for the oil was $75.82 per barrel, bringing the total value of the transactions to $60,534,073. This amount was equivalent to N100.87 billion, using an exchange rate of N1,666 to the dollar. The invoice number for these transactions was PSC/EXP/OML/146/09-24/RO-19.

In December. On the second day of the month, four vessels conveying 799,737 barrels of crude oil berthed at the refinery terminal. It was sold at a unit price of $74.87 per barrel, a total dollar value of $59,879,328, and a naira equivalent of N93.59bn. An exchange rate of N1,562 was used for these transactions and was paid in naira.

On December 11, 233,401 barrels of crude oil were supplied at a unit price of $76.21 per barrel at a total cost of $17,787,886 and N23.03bn naira equivalent. An exchange rate of N1,294 was utilised for this transaction with invoice number PSC.12.24.001. A remark on this transaction stated that Dangote paid based on the received volume of 193,320 barrels as against the invoice volume of 233,401.

Also, a pending crude oil supply of 956,061 barrels at a unit price of $74.9 and a total value of $71.61 was postponed to January.

The documents, however, didn’t reveal the supply of petroleum products received from the refinery under the deal.

The Senate, on Monday, ruled out a reversal of the six-month suspension imposed on Senator Natasha Akpoti-Uduaghan, who represents Kogi Central.

Senate spokesman, Yemi Adaramodu, speaking exclusively with The PUNCH on Monday, dismissed any pressure to reinstate Akpoti-Uduaghan, emphasising that the legislative body would adhere strictly to its rules.

He said, “There is no pressure anywhere that can take our eyes away from our noble statutes. The Senate will always regulate her conduct, as empowered in the Nigerian Constitution and as enshrined in our Standing Orders.

“The Senate is currently busy, working on the tax reform bills and preparing equally for the constitution review. We want to reflect the feelings of Nigerians on the Electoral Act before the 2027 elections.”

Taking a rather evasive position, the Senate Minority Leader, Abba Moro, also asserted that: “There is no pressure,” adding, however, that “Sometimes it is wisdom to allow time to heal wounds.”

Akpoti-Uduaghan was suspended on March 6, 2025, after the Senate Committee on Ethics, Privileges, and Public Petitions found her guilty of breaching the Senate Standing Orders.

Her suspension followed a heated exchange with Senate President Godswill Akpabio during plenary.

Meanwhile, Senate President Akpabio has contested the jurisdiction of the Federal High Court in Abuja to hear Akpoti-Uduaghan’s suit challenging her suspension.

Through his legal team, led by Kehinde Ogunwumiju (SAN), Akpabio argued that the court had no authority to interfere in the internal affairs of the Senate, insisting that legislative matters should be resolved internally.

Akpoti-Uduaghan had approached the Federal High Court seeking to stop the Senate Ethics Committee from investigating her.

On March 4, 2025, Justice Obiora Egwuatu summoned the Senate to appear before it and explain why Akpoti-Uduaghan’s prayers should not be granted.

The court directed the Senate to justify, within 72 hours, why it should not be permanently restrained from investigating the senator for alleged misconduct.

Justice Egwuatu also ordered that all court documents be served on the National Assembly through its Clerk or by publication in two national newspapers.

At the resumed hearing on Monday, Ogunwumiju argued that the plaintiff had not properly served him the court processes.

However, Akpoti-Uduaghan’s counsel, Michael Numa (SAN), countered that all parties had been served, presenting affidavits of service.

After reviewing the documents, Justice Egwuatu confirmed service and adjourned the case until March 25, 2025, directing all parties to file necessary responses before the next hearing.

Akwa Ibom group tackles Saraki

In a related development, the Ikot Ekpene Senatorial District Professionals in Akwa Ibom State has condemned former Senate President Bukola Saraki for his comments on the Natasha-Akpabio dispute.

Saraki had called for an open, transparent, and fair investigation by the Senate, but the Akwa Ibom group accused him of attempting to interfere in the Senate’s internal matters.

In a statement signed by its National President, Edidiong John, and National Secretary, Kemfon Neke, the group argued that Saraki’s remarks could undermine due process.

“The pendency of this case in the judicial system renders any parallel investigation by the Senate improper and beyond its authority at this stage. This is not a matter of politicization, but a straightforward application of legal and parliamentary norms,” the statement read.

The group urged Saraki to respect the legal process, emphasising that Akpoti-Uduaghan had already filed a petition with the Senate Committee on Ethics, which would determine whether the Senate had jurisdiction over the matter.

“It is only the courts and the Ethics Committee that are the proper avenues for resolution. Nigerians expect the Senate to uphold its integrity and credibility within the bounds of the law,” the statement added.

The Senate is set to resume plenary on Tuesday, March 11, 2025.

Troops of Operation Hadin Kai have rescued 75 civilians from Sambisa Forest in Borno State.

Addressing newsmen on Monday during the victims’ handover to the Borno State government in Maiduguri, the General Officer Commanding 7 Division of the Nigerian Army, Maj. Gen. W. Shaibu stated that the rescued individuals comprised seven adult males, 34 women, and 34 children.

The GOC, represented by the Deputy Theater Commander, Brig. Gen. A.L. Akpodu explained that the civilians were rescued during a clearance operation conducted by the 21 Special Armored Brigade and the 199 Special Forces Battalion under Operation Desert Sanity IV in Sambisa Forest.

“As part of our ongoing clearance efforts, troops of the 21 Special Armored Brigade and the 199 Special Forces Battalion recently carried out successful offensive operations in Sambisa Forest,” he said.

“Key terrorist enclaves in Ukuba, Ujimla, Sabil Huda, Garin, Fajula, and Gobara were cleared, leading to the rescue of 75 civilians, including seven adult males, 34 women, and 34 children,” he added.

He further noted that the military destroyed several insurgent facilities during the operation.

“The operation significantly degraded enemy capabilities by neutralising insurgents and destroying command and logistics bases, makeshift shelters, weapon caches, and IED-making materials,” he said.

The rescued civilians have received medical and psychological support and are now set to be handed over to the Borno State government.

Receiving the victims on behalf of the state government, the Commissioner for Women Affairs and Social Development, Zuwaira Gambo, commended the troops for their gallantry in the fight against insurgency.

“We are taking them to our rehabilitation centre, where they will receive livelihood support, counseling services, mental health and psychosocial support, and educational services for the children. We will ensure they are well reintegrated before releasing them back into society,” she said.

The ongoing political feud between chieftains of the All Progressives Congress and the Osun State Government took a new turn on Monday as the immediate past Commissioner for Local Government and Chieftaincy Affairs, Mr. Adebayo Adeleke, accused his predecessor, Mr. Kolapo Alimi, of overseeing the withdrawal of N3.7bn by some officials of the Association of Local Governments of Nigeria .

Adeleke, who served under former Governor Adegboyega Oyetola between 2019 and 2022, made the allegations while responding to a petition filed against him by the state government.

The petition, submitted to the Economic and Financial Crimes Commission, accused Adeleke of illegally securing renovation contracts for Primary Healthcare Centres while still in public office.

Addressing journalists in Osogbo alongside chairmen elected in the October 15, 2022, local government elections, Adeleke refuted the allegations and accused the current administration of financial mismanagement. 

He claimed that part of the alleged missing funds was moved through ALGON officials who served under former Governor Rauf Aregbesola’s administration.

Adeleke further accused the current administration of mismanaging N2bn in COVID-19 relief funds and awarding contracts without following due process.

He alleged that from 2017 to 2018, substantial sums of money were withdrawn under Alimi’s supervision.

 He cited a case on December 27, 2017, when a former ALGON Chairman,  Jayeola Omoboyede, allegedly withdrew N60m on in six tranches of N10 million each.

He also claimed that on the following day,  then ALGON Secretary and now Special Adviser to Governor Adeleke on Children’s Affairs, Temilade Olokungboye, withdrew N70m in a single transaction.

Adeleke further claimed that multiple withdrawals took place, including a N100m withdrawal on March 29, 2018, by Omoboyede and Olokungboye.

He insisted that the current administration was attempting to scapegoat him without proof while ignoring the financial activities of its own officials.

“They alleged that we laundered money, but they have no proof. Now, we have their records,” Adeleke declared.

Regarding allegations that he took a Primary Healthcare Centre renovation contract, Adeleke admitted that the company involved belonged to him but insisted he resigned from it upon his appointment as commissioner.

But firing back at Adeleke, Alimi challenged him to submit a formal petition to the EFCC if he believed he had a case.

Alimi insisted that the allegations against Adeleke were valid and not a political ploy, urging him to address the charges rather than seeking to deflect blame.

“First and foremost, the allegations against Adeleke sent to the EFCC are true. This is not tit for tat. If they believe there is a case against me, they should file a petition before the EFCC instead of making noise in the media,” Alimi said.

He argued that ALGON operates independently and is not directly under a commissioner’s supervision.

According to him, the officials mentioned were responsible for managing its accounts, and if Adeleke had evidence of irregularities, he should formally petition the authorities.

Alimi explained that, unlike Adeleke’s case where funds allegedly moved from local government accounts to private accounts, no such transactions occurred under his supervision.

He also pointed out that three individuals—Jayeola Omoboyede, Sekinat Olokungboye, and Kujembola (currently the APC state treasurer)—were signatories to the ALGON account at the time.

“Why did they fail to mention Kujembola? They are hypocrites. The Independent Corrupt Practices Commission  has already invited Adeleke, and the EFCC will soon invite all of them for prosecution,” he added.

Perhaps the most important political event, this week in Nigeria, so far, nobody knows if there would be a free-for-all fight in Rivers state tomorrow, or some melodrama in Osun state or elsewhere, before the week runs out – is the announced defection of Mallam Nasir El-Rufai from the All Progressives Congress party (APC) to the Social Democratic Party (SDP). In a signed statement dated March 10, 2025, El-Rufai says “at this point in my political journey, I have come to the conclusion that I must seek another political platform for the pursuit of the progressive values I cherish”. In plain terms, he no longer finds the APC useful, the same party which he had thought he would continue “to align (with) up to the time I choose to retire from politics”. He helped to create the party in 2013, and worked to secure the APC’s election victories in 2015, 2019, and we may add – 2023. It was on the platform of the party that he served as Governor of Kaduna state from 2015 to 2023. He says “the party has treated its membership with contempt in the last two years”. By this, he is obviously referring to himself. “I find this no longer acceptable”, he declares. And so now, in effect, El-Rufai has resigned from the APC to join the SDP and “adopt it as the platform for our future political engagements and activities”.  His objective is to help form “a unified democratic platform to challenge the APC in all elections and bye-elections between now and 2027 by the Grace of God.” In other words, his goal is to get the APC out of power most certainly and with God as an accomplice!

Nasir El-Rufai joining the SDP is the fourth political platform that he would have been associated with publicly since the return to civilian rule in 1999.  His first port of call was the People’s Democratic Party (PDP) when President Olusegun Obasanjo emerged as President, after the June 12 debacle that lasted for six years with grave implications for national unity, progress and stability. In 2011, he became a member of the Congress for Progressive Change (CPC) after his return from exile. In 2013/14, he aligned with the APC, and now, he has ported as they say in common parlance to the SDP. Nasir El-Rufai according to those who knew him was a smart, resourceful little known Quantity Surveyor and Business Administrator with a First-Class brain, doing his own little thing in his own little corner until he was brought into public service first by the military administration General Abdusalami Abubakar in an advisory capacity. He eventually came into prominence when as is widely believed, he was invited to join the Obasanjo administration by Waziri Adamawa Atiku Abubakar who was then Vice President of Nigeria. He was appointed Director General of the Bureau for Public Enterprises (BPE). In that capacity, he proved himself as a competent and knowledgeable technocrat, becoming in the process a key member of the government’s economic team in key areas such as privatization, commercialization, energy security and the oversight of due process within the economy. Nasir El-Rufai was an influential member of an inner group within the Obasanjo team of well-informed, young technocrats and intellectuals – the shining stars of the administration; Ngozi Okonjo-Iweala, Oby Ezekwesili, Nuhu Ribadu, and Charles Chukwuma Soludo.  He had the ears and the eyes of the President.

He was later rewarded with a Ministerial appointment when he was appointed Minister of the Federal Capital Territory (FCT) in 2003. He was a colourful, bold, outspoken and assertive Minister who insisted on the sanctity of the Abuja Master Plan.  He earned a reputation as “Mr. Demolition,” demolishing over 900 buildings including the properties of highly placed members of society.  He ended up with not a few enemies, and a community of critics. The Obasanjo administration completed its tenure in 2007. The Yar’Adua administration that followed was practically anointed by President Olusegun Obasanjo but both Obasanjo and his foot-soldiers who wheeled the Yar’Adua Presidency into existence were disappointed. After an initial thank-you visit to Ota, accompanied by members of his family, Yar’Adua soon began to assert himself in power as his own man. He refused to kow-tow to any Godfather. Obasanjo’s former aides fared worse. Whatever sense of entitlement they thought they deserved was given short-shrift treatment by President Yar’Adua.  Nasir El-Rufai was one of the lonely victims of the period. President Goodluck Jonathan who had been Yar’Adua’s Vice President and who succeeded his boss after the unfortunate incidents of illness and death, and the doctrine of necessity also did not feel compelled to over-pamper the old Obasanjo brigade. Many members of the group naturally became critics of the Jonathan administration, yesterday’s men and women who fervently believed that they could sabotage the new power elite in Abuja to regain relevance. Those who could find programmes of study abroad did so, those who could find jobs too, some went into exile, while others found a new vocation as public affairs commentators and a censorious, aggrieved band of agitators.   

This group found an opportunity for vengeance between 2013 and 2014 when they joined forces with others, notably Senator Bola Ahmed Tinubu and other members of the Action Congress of Nigeria (ACN), as well as a faction of the PDP, known as the new PDP (nPDP) led by Senator Bukola Saraki. There was also General Muhammadu Buhari’s CPC, and the All Nigeria Peoples Party (ANPP). These groups came together to form a party known as the APC on February 6, 2013.  Coalition politics had been tested with considerable success in other African countries – Democratic Republic of Congo and Tanzania - it was therefore not surprising that Nigerian opposition politicians embraced the same option. Nasir El-Rufai was indeed one of the key architects of the coalition. General Muhammadu Buhari was the candidate, the rallying point. He was re-packaged and sold to the Nigerian people as a soldier turned democrat. The APC was a gathering of strange bedfellows. They had one mission: to take power back to the North and to remove President Jonathan from power.  President Jonathan famously had said that his ambition was not worth the blood of any Nigerian. He was committed to the idea of free, fair and peaceful elections. When it became obvious that INEC was going to announce Buhari as winner in 2015, President Jonathan conceded defeat.  While President Buhari presided over Nigeria’s affairs at the centre, Nasir El-Rufai was Governor in Kaduna State (2015 – 2023) with considerable influence within the ruling party.  

I have given this background to paint a picture of how Mallam Nasir El-Rufai has been part of the making of Nigerian politics since 1999. He has told part of his own story in a book titled The Accidental Public Servant (Safari Books, 2013, 712 pp). In the lead up to the 2023 general elections, he was one of the voices of reason in the APC who defended the principle of Rotational Presidency, in this instance from North to the South and he supported Asiwaju Bola Ahmed Tinubu who claimed the credit for bringing Buhari to power as a civilian President in 2015, and insisted that in 2023, it was his turn to become Nigeria’s President. “Emilokan (It is My Turn), he said. Given the fervour with which Mallam El-Rufai championed Tinubu’s cause, it was perfectly reasonable that he would expect to be rewarded for his loyalty and support. The hope that this would be so was in fact raised by Asiwaju Tinubu, himself, who as President-elect publicly announced that El-Rufai would be a member of his team. It was an open invitation with witnesses in attendance, the only person to be so honoured by the in-coming President. Politicians invest. They expect returns on their investment.  They may mouth platitudes about serving the people but they are actually in politics to serve their own selfish interests. There may be exceptions to the rule and there are notable ones including Nelson Mandela, Obafemi Awolowo, the Sardauna Ahmadu Bello, Margaret Ekpo, Aminu Kano, Ibrahim Waziri, Tafawa Balewa… El-Rufai, as expected made the list of Ministerial nominees but to everyone’s consternation, he purportedly failed security screening. How? The President had cleared him even before his nomination. His friend, from their days of partnership and comradeship since the Obasanjo years, was the National Security Adviser (NSA). Nuhu Ribadu would not clear Nasir El-Rufai? Which security clearance is that? Well, that was the beginning of Nasir El-Rufai’s troubles or the complication of it. A perfect storm. Trouble in Paradise. He would later be accused of mismanagement of public funds by the Kaduna State House of Assembly. The lawmakers said they were looking for N423 billion! purportedly spent without following “due process”. He denied any wrong-doing during his eight years as Governor of the State. 

Some of the officials who worked with him as Governor, including his Chief of Staff and four others were called in for investigation and interrogation. They were later arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on charges of money laundering. It did not take too long before El-Rufai, known for his outspokenness, started fighting back. In January, he said he could no longer recognize the APC – a party that he helped to create, which has now been taken over by others and he has been left behind. The party, he affirmed, no longer practices internal democracy, it has since abandoned its founding principles and has been taken over by illiterates and internal mercenaries!  “No party organ has met in two years – no caucus, no NEC, nothing. You don’t even know if it is a one-man show; it’s a zero-man show.” By February this year, the matter had degenerated into a face-off between Mallam El-Rufai and NSA Ribadu. The former Governor condemned the President’s economic reforms and the quality of the people implementing the reforms, some of which he considers “wrong.”  He frontally accused the President of being the one who rejected him as a Ministerial nominee. Still firing from all cylinders, El-Rufai said his friend, Ribadu is not good enough to be the country’s National Security Adviser. He accused him of working hard to tarnish his reputation, because he thinks he, El Rufai, poses a threat to his 2031 Presidential ambition. The biggest blow came yesterday with him walking away from the APC. 

This should not be surprising to students of Nigerian politics though. It is usual practice for Nigerian politicians to move from one political party to another. They are driven not by ideological beliefs, or principles, but convenience, expediency or wherever they think they can easily realize their ambitions. There are Nigerian politicians who since 1999 have been in different political parties.  This is Nasir El-Rufai’s fourth. He must be given credit however for the forthrightness of his defection statement: he is calling on opposition politicians to unite and get the APC out of power in 2027. He is not quite mouthing those pretentious cliches about saving Nigeria. He has drawn a line in the sand. His exit from the APC is the equivalent of the declaration of political war. 

This was a strategy that worked in 2015. But there is no guarantee that it would work again this time around. Nonetheless, it is clear that El Rufai is not alone. He has been seen visiting and meeting with other politicians who many have an axe to grind with President Tinubu and the APC, and there has been so much talk about a Grand Coalition to unseat President Tinubu in 2027. This is easier said than done. It may not be so easy to intimidate Tinubu out of office, and certainly not by the likes of politicians who were once beneficiaries of his own method of politics. They know him. He knows them too.  Those who do not know anybody are the hapless masses in whose name the politicians commit atrocities, and settle their differences when it suits them. Tinubu also does not have a strong opposition challenging his government. Between 2013 – 2015, the then emergent APC had a team of aggressive, hyperactive and hypertensive spokespersons who specialized in abusing and attacking the Jonathan administration. I should know. I was a constant target of their malicious vituperations.  President Tinubu does not have that kind of challenge. He has at least one prominent agent within the PDP, at the highest levels, who is also within the corridors of power serving Tinubu. The planned Grand coalition of anti-Tinubu opposition forces may also be dead on arrival as there is no clearly identifiable, symbolic figure to lead the gathering. The ambitions of the key figures are equally dissimilar. Nasir El-Rufai who has now presented himself as a rallying and roving coordinator plays a kind of politics that could alienate many. As Governor in Kaduna State, he was constantly accused of favouring one religion against the other, and within the larger Nigeria space, his critics consider him a polarizing, irredentist.  The SDP which he has opted to join had its brightest moment in Nigerian politics way back in 1993, when Chief MKO Abiola won the June 12 Presidential election on its platform, and even that outcome was annulled. That was 32 years ago! By showing his hands and intentions so early, so prematurely, Mallam Nasir El-Rufai may have begun a long journey into political wilderness. As a two-time yesterday man, he should know better, except he is playing the Trumpian game of striking first, to force a negotiation. But even that does not look like a prospect. The Presidency has dismissed El-Rufai’s defection as “inordinate ambition.” His former colleagues in Kaduna APC have simply said: “we are unperturbed… we are not disturbed and we are not going to lose sleep over El-Rufai’s moves.” 

The Manufacturers Association of Nigeria (MAN) has expressed strong opposition to the implementation of new financial charges imposed on private companies by the Financial Reporting Council of Nigeria (FRCN) under the recently amended FRCN Act.

In a statement by the Director General of MAN, Segun Ajayi-Kabir, the charges threaten business survival and contradict the government’s ease of doing business agenda.

Ajayi-Kadir described the charges as “astronomical,” highlighting that non-listed manufacturing companies—most of which are MAN members—are now classified as Public Interest Entities (PIEs) and subjected to hefty fees.

“For instance, a new section 33 introduced under the FRCN Amendment Act, 2023, mandates annual charges for non-listed entities, calculated as a percentage of their annual turnover (maximum being 0.05% of the annual turnover for companies with turnover of more than N10 billion).

“For publicly quoted companies, the maximum payment earlier was N1 million per annum. Now, that amount is hiked to N25 million! Quite incredibly, for non-listed companies, who were previously excluded, there is no cap, and it is linked to the turnover, irrespective of whether the company is profitable or not,” the DG noted, quoting Section 33 of the FRCN Act 2023. 

Ajayi-Kadir argued that beyond the financial burden on manufacturers, the act prescribes severe penalties, including a 10% monthly penalty for non-payment and potential imprisonment of up to six months for defaulting CEOs.

He stressed that this criminalization of non-payment of charges is excessive, arguing that nonpayment of fees typically attracts fines or regulatory penalties, not imprisonment.

“The strict penalties and possible conviction to imprisonment could be construed as having the nature of a criminal law. Generally, non-payment of fees/dues typically results in other penalties or fines and imprisonment provisions are applicable only in cases where non-payment is seen as an act of defiance or fraud,” he said. 

Not the right time for new charges 

MAN warned that the implementation of these charges at a time of economic difficulty could stifle investment in Nigeria’s productive sector.

The association, therefore, urged the FRCN to suspend the implementation of these fees and reconsider their alignment with Nigeria’s ongoing tax reform efforts.

“MAN therefore implores the FRCN to be mindful of the potential negative impact of its continued administration of the fees on businesses and put it on hold. As the umbrella body for manufacturers in Nigeria, we admonish the FRCN to await the enactments of the tax reform laws and realign its operations with the relevant provisions,” the DG noted.  

According to Ajayi-Kadir, halting the implementation of the new FRCN charges would support the federal government’s broader fiscal and tax reform agenda, which aims to streamline regulations, harmonize taxes, and promote business growth

The Kaduna State chapter of the All Progressives Congress has said it will not lose sleep over the defection of former state governor, Nasir El-Rufai, to the Social Democratic Party.

The PUNCH Online reports that El-Rufai dumped the ruling party for the Social Democratic Party

The former governor cited a growing misalignment between his personal values and the current direction of the APC as the primary reason for his decision.

However, reacting to the defection, the Secretary of the Kaduna APC, Yahaya Baba-Pate, said the party remained unperturbed by the defection of the former governor.

Baba-Pate said the party was focused on delivering the state to President Bola Tinubu and Governor Uba Sani in 2027.

Baba-Pate, who spoke to journalists in Kaduna on Monday, expressed confidence in the party’s growing strength in the state, citing the influx of high-profile politicians joining the party daily in the state.

He expressed confidence that the party’s fortunes will not be affected by El-Rufai’s departure.

He said, “We are unperturbed by former governor Nasir El-Rufai’s defection to another party. Our main focus in Kaduna is on how to deliver the state to both President Ahmed Bola Tinubu and Governor Uba Sani in 2027.

“The APC in Kaduna State is growing day by day, judging from the calibre of politicians streaming into the party on a daily basis. So, we are not disturbed by anybody defecting to another party based on our governor’s inclusive governance in the state.

“We are not disturbed and we are not going to lose our sleep over El-rufai’s moves. The party in the state is growing more than before.”

Former Kaduna State Governor, Nasir Ahmad El-Rufai, has urged opposition members to join the Social Democratic Party (SDP) in a bid to unseat the ruling All Progressives Congress (APC) in the 2027 elections.

El-Rufai made this known in a statement he personally signed on Monday, March 10, 2025, while announcing his resignation from the APC. 

“Without prejudice to this decision, as a member of the SDP, I will focus on engaging with and persuading other opposition leaders and parties to join us and unite under a single democratic platform to challenge the APC in all elections and bye-elections between now and 2027, by the Grace of God.

“I, therefore, call on all our supporters and concerned Nigerians to join us in the SDP as we work towards making Nigeria a beacon of pride for Africans and the Black Race.”

El-Rufai’s decision follows a series of political consultations, including visits to former Minister of Interior Rauf Aregbesola, cleric Pastor Tunde Bakare, and former President Muhammadu Buhari.

These meetings have fueled speculation about his political future and possible strategic alliances ahead of the 2027 elections.

Resignation from APC

In his statement, El-Rufai acknowledged his long-standing contributions to the APC but expressed disappointment with the party’s current direction.

“Founders naturally feel attached to institutions they helped build, but pragmatism demands recognition when differences become irreconcilable. I have diligently served the APC and contributed to its growth, but the party has since deviated, leaving me stuck in the vision of its well-meaning founders.

“As a loyal party member, I worked to secure the APC’s victories in 2015, 2019, and 2023. My tenure as governor of Kaduna State focused on progressive policies in education, healthcare, infrastructure, job creation, and investment promotion. However, in the last two years, the APC has sidelined its structures and treated its members with contempt. This is no longer acceptable.”

El-Rufai confirmed that he had officially resigned from the APC, effective immediately, after consulting his mentors, colleagues, and political loyalists across the country.

“Today, March 10, 2025, I submitted my resignation letter to my ward in Kaduna. Moving forward, I have decided to adopt the SDP as my platform for political engagement and activities.”

Singer Korede Bello has addressed concerns from fans regarding his relative absence from the public eye, sharing a deeply introspective message on Instagram.

In an Instagram post made over the weekend and accompanied by Carlos Cipa’s instrumental piece The Place Where They Go, Korede opened up about his journey of self-discovery and the significance of inner peace.

Responding to frequent inquiries about his whereabouts, the singer stated, “Whenever I hear or see comments like ‘Where have you been?’ I’m always usually kind of surprised. Why? Because I’ve been here all along, with me, myself and I.”

He highlighted the importance of self-awareness over external validation, adding, “I’m grateful that I don’t have to ask myself ‘Korede, where are you?’ For it is better for the world to ask ‘Where have you been’ than for you to ask yourself ‘Who am I…. where am I?’”

Korede also reflected on the often-overlooked struggles of fame, stating, “Don’t you know that you can be extremely rich and famous but lost inside your mind? I have come to realize that the more you connect with yourself the less the world connects with you.”alize that the more you connect with yourself, the less the world connects with you.”

The ‘Godwin’ singer acknowledged that deep self-reflection often leads to noticeable changes in one’s outlook and interactions.

“You think different, you act different because you are different. They might even say ‘Who do you think you are?…’ But this hero’s journey is so necessary because you cannot truly stand out until you stand out and become outstanding,” he said.

Presidential candidate of the Social Democratic Party (SDP) in 2023, Adewole Adebayo, has welcomed former Kaduna State Governor Nasir El-Rufai to the party.

Taking to X on Monday, Adebayo expressed his excitement, stating that El-Rufai’s entry strengthens the party’s mission to rescue Nigeria from years of poor governance and economic decline.

“On behalf of the teeming members of the @TheSDPNg and patriotic democrats who believe in Nigeria and her promise of inevitable greatness, I heartily welcome my dear brother @elrufai to our party.

“With the hardworking and sagacious Mallam joining our ranks, an avid worker for the people has been enlisted in our forces against poverty and insecurity,” Adebayo wrote.

He underscored the party’s commitment to fulfilling Chapter 2 of Nigeria’s Constitution, which addresses fundamental human rights, social justice and economic development.

Adebayo urged like-minded democrats and nationalists to join the SDP’s movement for national restoration.

“Good politics begets good governance. Let no one sit on the fence any further. There is no time to waste. Join us on the March Again! God bless Nigeria,” he added.