Fulham and Super Eagles midfielder, Alex Iwobi has said he has no regret in choosing Nigeria over England.

Speaking in an interview with Kiss Fresh, London, Iwobi stated he respects England but feels more at home in Nigeria.

He added that football in Nigeria is like a festival, stressing that the entertaining atmosphere in Nigerian stadia gives him a sense of belonging.

“I actually felt more at home in Nigeria. Football out there is like a festival, it’s like a party. You go into the game, you see people blowing trumpets, and drums, it doesn’t even feel like a proper match. I was like, ‘Yeah, this is where I belong.’

“Of course, I have respect for England but I have no regret in choosing Nigeria.”

Iwobi represented England up to under-18 level. He made his senior international debut for Nigeria in October 2015.

The Dangote refinery in Nigeria has marked a significant milestone by exporting its first jet fuel cargo to Europe.

This milestone is pivotal in the global energy market, underscoring the rapid expansion of the facility’s operations.

On Friday, S&P Global Commodity Insights reported that BP is moving 45,000 metric tons of jet fuel from the Dangote refinery to Rotterdam via the Doric Breeze.

This export marks the refinery’s debut in the European market, following a substantial 120,000 metric ton tender.

According to PUNCH Online, “BP cargo” denotes the jet fuel shipment acquired and currently being transported by British Petroleum (BP).

This groundbreaking development involves BP leading the transportation of 45,000 metric tons of jet fuel to Rotterdam, signifying a pivotal moment for the new 650,000 b/d complex and potentially reshaping global energy dynamics.

The shipment, loaded from Lekki on May 27, highlights the refinery’s swift increase in production and its compliance with European jet A1 standards, potentially altering West African trade flows.

“Two sources confirmed that the Doric Breeze ship marked the inaugural BP cargo, loading 45,000 mt of supply from Lekki May 27, according to S&P Global Commodities at Sea data.

“Cepsa also secured part of the tender, with the Spanish refiner expected to deliver supply to the continent imminently, traders said.

“Neither of the companies were available for comments on purchases of jet fuel from the refinery, while a representative from Dangote previously confirmed to S&P Global Commodity Insights that the refinery has complied with European jet A1 standards since the product first started being shipped within Africa in April.

“The inaugural European shipment demonstrates the growing reach of products from the 650,000 b/d Dangote refinery as it has rapidly ramped up operations and aims to shake up established West African trade flows.

“Dangote has exported six jet fuel/kerosene cargoes starting April 8, with all material delivered to Senegal, Togo or Ghana, according to CAS data. BP is also expected to continue supplying jet fuel to the West African market with product from the refinery,” sources said.

European traders cautioned that the influx of fresh jet fuel flows from Nigeria could worsen existing market weakness due to oversupply.

The Central Bank of Nigeria on Friday, announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market.

This decision comes after the CBN placed limits on the transfer of crude export proceeds by IOCs to offshore parent company accounts on February 14.

The apex bank noted that these transfers affected domestic foreign exchange market liquidity and sought to reverse the trend through ongoing reforms.

According to a circular signed by the Director of Trade and Exchange Department, W.J. Kanya, banks can only transfer 50 per cent of repatriated export proceeds to IOCs’ offshore parent company accounts, with the remaining 50 per cent repatriated after 90 days.

However, on May 6, the CBN reviewed this directive, allowing IOCs to repatriate 50 per cent of their export proceeds immediately or as needed, while the remaining 50 per cent can be used to settle financial obligations in Nigeria.

This move aims to balance the needs of IOCs with the need to maintain liquidity in the domestic foreign exchange market.


By allowing IOCs to sell their retained proceeds in the Nigerian market, the CBN seeks to boost liquidity and promote economic growth.


However, in a new development, CBN said following the release of the circular “dated May 06, 2024, referenced TED/FEM/PUB/FPC/001/008, in respect of Cash Pooling by banks on behalf of IOCs, we received several requests for clarification on item No 3 ( on forex sales at the Nigeria Foreign Exchange Market”.

Providing more clarifications, the apex bank said the “50% balance of the repatriated export proceeds may be sold to Authorized Dealers or eligible users of foreign exchange with eligible transactions”.

“If the IOC does not have any financial obligation to settle with the funds during or after the 90-day retention period, the 50% balance may also be sold wholly as stated in (1) above,” CBN said.

Some of the financial obligations mentioned by the CBN are the balance for cash calls, domestic loan principal and interest payments, transaction taxes (including the Nigerian Content Development Levy) and education tax

The organized private sector has accepted the Federal Government’s proposal for a new minimum wage of ₦60,000.

The Director-General of the Manufacturing Association of Nigeria, Ajayi Kadri, confirmed this development during a recent interview, stressing that the private sector is constrained by microeconomic, infrastructure and security challenges and that anything more than the federal government’s proposed minimum wage is not feasible for the sector at the moment.

Ajayi emphasized that the ongoing negotiations between the government, private sector, and labour primarily focus on establishing a minimum wage rather than a living wage, representing the lowest possible payment for any worker in the country.

He further highlighted the significant economic challenges faced by both labour and private businesses, making it exceedingly difficult to meet the wage demands of labour unions.

“To start with, this is a very difficult time for anyone to negotiate minimum wage. From the perspective of government, labour and organized private sector, we operate in an environment where there is general acceptance of the fact that the macroeconomics are not right, even the global economy is experiencing a lot of shakeups and the aftermath of government necessary reforms.

“From the beginning of the negotiations of the minimum wage, it’s evident to the tripartite— that is, the government, labour, and organized private sector— that we are going to operate in a difficult terrain.

“Incidentally, the organized private sector and government have offered ₦60,000 as the minimum wage and I think it is very important for us to understand that what we are talking about is the minimum wage. That is what some people have called the walk-in wage. That is the amount we will pay the least workers in the country. It is the minimum wage we are negotiating, not a living wage,” Ajayi while on a Channels Television programme on Saturday.

Ajayi revealed that significant obstacles are being faced by both the government and the private sector in meeting the proposed N419,000 living wage demand.

He pointed out that the private sector, particularly, is struggling with economic difficulties and inflation, making it unfeasible to meet such a high wage.

Furthermore, he emphasized that the current period is not conducive for organized labour to engage in discussions regarding a new minimum wage. Rather, they should work together with other parties to bolster the economy.

“All of us in the tripartite— the government, the labour, and the private sector — we all knew that we were operating in a very difficult environment. The government itself realized that it had limited capacity to pay. The private sector is constrained by microeconomic, infrastructure and security challenges. So, we are also constrained to pay.

“Labour, on its part, is under intense pressure from its constituencies to ask for a higher wage because inflation has hit the roof and the operating environment is tough.

“Throughout the negotiation process, we made it known that this is not the best time to negotiate minimum wage. This is the time for us to agree, the crew behind the government, and grow the economy in such that we will bake a bigger cake, and then we’ll be able to share,” the director general added.

He urged the organized labour to rethink their choice of initiating a nationwide strike, emphasizing that leaving negotiations and resorting to strike action would not be beneficial.

He emphasized the importance of organized labour reconsidering their decision to go on a nationwide strike, highlighting that rejecting the N60,000 offer from the government and private sector was regrettable.

“We cannot afford to cripple the economy when all we needed to do was continue to build it. I think President Tinubu was very clear when he emerged as president that these are not going to be easy times, and I think we needed to tighten our belts to deliver on economy that we know has been seriously battered,” Ajayi-Kadir said.

He added: “Of course, the government on its own side has to demonstrate leadership, sensitivity and sense and sense of mind as well as the sense of occasion of the period that we are in. So, government expenditure, government choices of what needs to be done, how much to be spent, the cost of governance itself, all of it has to come to the table.

“I think what labour is actually worried about is that they appear to be the ones on the brunt of it but we needed to be able to engage, walking out on the process and declaring a strike, I do not think that that is what is going to solve this issue.”

Naija News reported earlier that the labour unions, on Friday, announced a nationwide strike without a specified end date due to the Federal Government’s rejection of increasing the proposed minimum wage of N60,000.

They asserted that the strike was initiated after the previous appeal to the Federal Government to finalize all discussions regarding a new minimum wage by the end of May had expired.

The President of the Nigeria Labour Congress (NLC) Comrade Joe Ajaero has described the minimum wage negotiation with the federal government and other tripartite committee members, as a “helpless situation”.

Ajaero’s assertion was revealed during a press briefing shortly after an earlier meeting with the federal government which ended in a deadlock in Abuja on Friday.

THE WHISTLER had earlier reported that NLC and its counterpart the Trade Union Congress (TUC) declared an indefinite nationwide strike starting Monday, June 3, 2024.

The strike was to press home their demands for a new minimum wage, reversal of electricity hike, and the removal of electricity consumers from various bands announced by the Nigerian Electricity Regulatory Commission (NERC).

However, Ajaero said “In the meeting today we told them we have to be here and allow them to go and get the mandate and come back to this meeting, we also told them we are ready to sleep here. But they said no, we should allow them that it is difficult to see Mr. President as they don’t have access to him.

When asked if the strike would be called off if the federal government calls for another negotiation with a new proposal, Ajaero responded, “The federal government can only call for a continuation of the negotiation, not by awards.

“You can’t say come we are giving you N10, N20. No, we have to sit down and negotiate, calling us doesn’t mean agreement. Until you sign an agreement to what is mutually agreeable by the parties involved, our action will not stop negotiations.

“Because the two parties are going to negotiate under duress now, that is the meaning of this strike, so the earlier they respond the better for all of us.

“I am not sure where you have the labour centres in a country and they are embarking on a strike for one month and you don’t listen to them.

“So, I think what you will be praying for, is for the people who are suffering so much and these are some of our people, that was why we were reluctant, and why we were virtually telling them that we needed to find a solution.”

South Africa head coach, Hugo Broos has said the Super Eagles are a different team under the new head coach, Finidi George.

Portuguese tactician, Jose Peseiro was in charge of the Super Eagles the last time the West Africans confronted South Africa at the 2023 Africa Cup of Nations.

Finidi took charge of the Super Eagles in an interim capacity in the friendlies against Ghana and Mali in March. 

Broos claimed that he saw a different Super Eagles team from the friendlies compared to the side that played at the AFCON.

The Belgian claimed he has to work out a way to stop the Super Eagles like he did at the AFCON.

“We will try to shock them again. It’s a little bit different than the team of AFCON,” Broos told SABC

“With Finidi George they have a coach who thinks more offensively. Peseiro was a little bit more defensive and I saw that certainly in the game against us, he was always telling the team to go back.

“Also in the final they didn’t really play offensively, they just tried to be good defensively and then hoping on a counterattack or a situation in front of the goal where they could score.

“I saw two games against Mali and Ghana, it’s different. They take a little bit more initiative. It’s not the team anymore who went back and waited.

“They also try to make pressure early in the game and close to the goal of the opponent, so we have to look for something now that we can shock them again like we did for the game in Ivory Coast.”

Bafana Bafana will be up against the Super Eagles at the Godswill Akpabio International Stadium, Uyo next Friday.

The Ogun Government has said the Nigerian National Petroleum Company (NNPC) Limited is set to begin oil and gas exploration in the state.

In a statement on Friday, the government said the development would make its quest to become an oil-producing state materialise soon. 

The statement noted that stakeholders in the oil and gas industry were received at the office of Dapo Abiodun, Ogun State Governor, and Noimot Salako-Oyedele, his Deputy, to discuss the prospect.

Speaking at the meeting, Heineken Lokpobiri, Minister Of State For Petroleum Resources (Oil), said Ogun has always been part of the Dahomey basin with the prospect of having a huge deposit of hydrocarbons.

“We decided that we are going to resume exploration in the different Basins; we decided to come to Ogun State to reassure the people that we have very high potential of discoveries here,” he said. 

“Ogun has always been part of the Dahomey Basin and our presence underscore the seriousness the federal government attaches to the exploration activities that we want to carry out in Ogun State.”

Lokpobiri said the visit was also to demonstrate the commitment of the federal government to bolster its revenue through the oil and gas sector.

“Today we are here to tell the people of the federal government’s commitment to ensuring that we continue our campaign and exploration activities across the country,” the minister said.

“We are doing this exploration activities in several places across Nigeria and today we are in Ogun after which we will proceed to Sokoto State.”

On his part, Mele Kyari, Group Chief Executive Officer (GCEO) of NNPC, said Ogun state is blessed to be in the Dahomey basin corridor, with expected high deposit of oil.

He assured that the company would return in earnest to commence exploration activities.

Kyari also expressed hope that oil would be found in commercial quantity in the state.

In his remarks, Gbenga Komolafe, the chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the team’s visit was to further indicate the commitment of the federal government to growing oil reserves and enhancing federation revenue.

Komolafe said the Petroleum Industry Act (PIA) makes provision for funding the development of the frontier basins.

He added that in line with the commitments of the government, the NUPRC is collaborating with the NNPC to leverage on the PIA to carry out oil exploration in the Dahomey basin.

“The Dahomey Basin stretches up to Delta, Edo, Ogun and Ondo states. We intend to in the course of this exercise, cover all those states leveraging on the provision of Section 9, Subsection 4 of the PIA,” he said.

In his response, Governor Abiodun said Ogun state is part of the oil prospecting leases (OPLs) 302, 303, 306, and 307.

He said numerous studies show the potential of the basins, highlighting the state’s potential for commercial success and economic benefits from exploration and production within a short timeframe.

“It is noteworthy that this is a region of the country that provides ease of access, low entry and operating costs, a safe and welcoming community and a very active state government support and participation,” Abiodun said.

“Ogun State therefore presents some unique opportunities towards the realization of the full intentions of the PIA section 9 on frontier exploration as it will contribute to guarantee additional petroleum production of additional petroleum products for the country and afford more supply to potential refineries in the area.”

The Governor said the area presents an opportunity for Bitumen extraction, reducing import dependency and reducing foreign exchange expenditure on a single line item.

Chairman of the New Nigeria People’s Party, NNPP, in Kano State, Alhaji Hashimu Dungurawa has said detractors can’t stop the destiny of the party’s 2023 presidential candidate, Rabiu Kwankwaso.

Dungurawa said those fighting Kwankwaso were behind reports that he’s being investigated by the Economic and Financial Crimes Commission, EFCC.

Reports had it that the anti-graft agency was probing Kwankwaso over alleged N2.5 billion fraud.

However, addressing journalists in Kano, the NNPP chieftain described the reports as lies, stressing that Kwankwaso is a man of integrity and capacity.

He said: “We have been seeing this kind of rumour several times on different occasions.

“Let them continue with the rumour. Whether they like it or not, Kwankwaso remains the only person with integrity, respect, popularity, and capacity to govern this country.

“The rumour came from an enemy, shared by ignorance, and accepted by a fool. Thank God that we are not all three. We are his lovers, we are not ignorant of his doing, and we are not fools.

“All these will not stop his destiny. But they should be mindful that rumours don’t add any value; instead, they will generate popularity for him.”

Cristiano Ronaldo, the superstar player for Al Nassr, was overcome with emotion and burst into tears as his team suffered a heartbreaking 5-4 defeat on penalties against Al Hilal in the King's Cup final last Friday.

The defeat means Ronaldo will not win any trophy this season.

Al Hilal have now also completed the league and cup double.

The match in Jeddah ended 1-1 in regulation time and extra time failed to provide a winner.

Aleksandar Mitrovic gave Al Hilal the lead in the seventh minute, before Aiman Yahya levelled the game in the 88th minute.

A feisty game saw the referee produce three red cards, with David Ospina sent off for Al Nassr in the 57th minute before Ali Al-Bulayhi and Kalidou Koulibaly followed late on for Al Hilal.

Al Hilal goalkeeper, Yassine Bounou was eventually the hero as he saved Al Nassr’s final two penalties to secure the trophy.

The Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, has disclosed that electricity distribution companies have disconnected over 100 manufacturing firms.

In an exclusive interview with The PUNCH at the annual general meeting of the MAN’s food, beverage and tobacco sector, on Thursday in Lagos, he revealed that 10 of the association’s members had been disconnected in Kano.

“We do not favour legal action against the Discos and NERC. We do not want to go there. One of our branches has done so, and that subsists. The Disco in Kano is still disconnecting our members despite the injunction. As an association, we do not want to engage in such (legal action) but it comes as a last resort.

“You can imagine that as of today, more than 100 of our members have been disconnected, which means that their workers have been asked to go home. It means that their production processes have been halted. It means that they are not able to fulfil their obligations to their suppliers, and they have started to lose money,” he explained.

According to the MAN DG, the crux of the matter is that manufacturers are asked to pay electricity bills that will take manufacturers out of business.

“A company told me that it was paying N7-8m before, now it is paying N32m. The calculation is that the profit you could have made, you are not able to make it. So, you need to decide to go ahead and produce and pay an electricity bill that is more than the profit you would have made or shut down.

So, we are gradually seeing a situation where more and more industries are shutting down, because if you disconnect an industry that does not have an alternative source of power, it practically goes out of business,” he declared.

Meanwhile, the immediate past Chairman of the Food, Beverage and Tobacco Sector of MAN and Managing Director of Intercontinental Distillers Limited, Patrick Anegbe, stated that the spate of insecurity in the country was hampering backward integration in the food industry.

“How do you backwards integrate when you are talking about insecurity? The insecurity in the country poses a very serious threat to backward integration,” he averred.

He added that multiple taxes had also eaten deep into the profit margins of manufacturers, noting that production costs had continued to skyrocket.

“Multiple taxation is really affecting our business. Taxes here and there. The cost of production has gone up very high to the extent that margins are so low. We are just barely surviving.

“The government should look for a way of reducing these multiple taxations and eliminating some of them,” he asserted.

He revealed that the food, beverage and tobacco sector’s production value rose by 68.2 per cent or N614.0bn in the first half of 2023 compared to N900.45bn recorded in the second half of 2022.

“The sector’s local raw material sourcing for the period under review saw a decline from 70 per cent in H2 2022 to 66.8 per cent in H2 2023, though this is an improvement from 62 per cent in H1 2022 (MAN H2 Economic Review),” he explained.

The newly elected Chairman of the sector of MAN, and Managing Director of La Casera Company, Chinedum Okereke, noted that the importance of the food sector cannot be undermined, as it guarantees the country’s food security and plays a vital role in job creation.

“We will collaborate and engage more with the government. Most time, the government may have good intentions but the lack of engagement with stakeholders is a problem. So, we will not sit back and wait for them to engage with us, but we will proactively go to them for engagement,” he stated.

The Deputy Director of the National Agency for Food and Drug Administration and Control, Olugbenga Aina, who was one of the speakers at the AGM, advised manufacturers not to see regulation as a burden.

He noted that the best form of regulation is self-regulation, adding that manufacturers must be innovative.

“Fostering competitiveness in the food, beverage and tobacco industry with regards to ensuring that local content production meets international best practices for increased export demand and national revenues, is key to the Renewed HOPE Agenda and revitalising the Nigerian economy.

“The significance of the food, beverage, and tobacco sector in Nigeria cannot be overstated. Food, beverage and tobacco is the greatest contributor at N3,814.50bn or 52 per cent of the Nigerian manufacturing sector total in 2013, according to National Bureau of Statistics,” he stated.

According to Aina, aligning with global standards opens up new export opportunities and enables manufacturers to tap into new markets and contribute to Nigeria’s economic diversification.

Also, the Head of Corporate Affairs & Sustainability Rite Foods Limited, Ekuma Eze, who was one of the speakers at the event, stressed the need for food industries to invest in research and development to create innovative technologies and solutions that differentiate.

He added that they must build strong partnerships to combine strength and resources to create value-adding products.