Author: Abimbola Daniels

PETROL prices across Nigeria surged past ₦900 per litre on Monday despite a noticeable decline in global crude oil prices, sparking fresh outrage among motorists and commuters already grappling with high living costs. Investigations by News Point Nigeria revealed that several filling stations, including those operated by the Nigerian National Petroleum Company Limited (NNPCL) and major independent marketers, adjusted their pump prices upward over the weekend. In Lagos and Ogun states, NNPCL retail outlets were seen selling petrol at ₦900 per litre, even as crude oil prices slid from nearly $69 per barrel last week to around $66 per barrel…

THE Airline Operators of Nigeria (AON) has imposed a lifetime no-fly ban on Comfort Emmanson, a female passenger who allegedly assaulted cabin crew members aboard an Ibom Air flight from Uyo, Akwa Ibom State, to Lagos. News Point Nigeria reports that the incident has also led to her being charged in court and remanded at the Kirikiri Correctional Centre in Lagos. The decision comes as part of what aviation authorities describe as a zero-tolerance stance against unruly passenger behaviour, which has been on the rise in Nigeria’s airports. The spokesperson to the Minister of Aviation and Aerospace Development, Tunde Moshood,…

IN a striking twist in the global oil market, Indian refiners are ramping up purchases of Nigerian crude even as the country’s flagship Dangote Petroleum Refinery increasingly turns to American oil to keep its production lines running. Industry sources and trade data reveal that India’s state-run refiners, including Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL), have bought millions of barrels of Nigerian crude for September and October delivery. The move comes after the United States pressured New Delhi to scale back purchases of Russian oil. According to Reuters, IOC recently bought one million barrels of Nigeria’s Agbami…

AVIATION unions under the Nigerian Airspace Management Agency (NAMA) have suspended their planned strike, citing encouraging progress in negotiations for improved staff remuneration. Earlier, the coalition of unions had directed all NAMA staff to down tools indefinitely from Monday, August 11, over unresolved salary demands. However, in a statement jointly signed on Friday by leaders of four aviation unions, they announced the decision to defer the industrial action. The signatories include AbdulRasaq Saidu, Secretary General of the Association of Nigeria Aviation Professionals; Odinaka Igbokwe, Deputy General Secretary of the National Union of Air Transport Employees; Frances Akinjole, Principal Deputy General…

FLIGHT operations across Nigeria are set for major disruption from Monday, August 11, 2025, as aviation unions have ordered all staff of the Nigerian Airspace Management Agency (NAMA) to halt services indefinitely over unresolved salary issues. The strike action, announced in a joint statement on Thursday, August 7 made available to News Point Nigeria, Saturday, was signed by leaders of four major aviation unions, the National Union of Air Transport Employees (NUATE), the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), the Association of Nigeria Aviation Professionals (ANAP), and the Amalgamated Union of Public Corporations, Civil Service, Technical and…

THE Nigerian Civil Aviation Authority (NCAA) has announced its decision to blacklist renowned Fuji maestro, Wasiu Ayinde Marshal, popularly known as K1 de Ultimate, from domestic flights in Nigeria for six months due to his alleged misconduct at the Nnamdi Azikiwe International Airport in Abuja. This was disclosed on Thursday during a press conference by Michael Achimugu, the NCAA’s Director of Public Affairs and Consumer Protection. According to Achimugu, the decision stems from a firm commitment to enforcing aviation rules and ensuring no individual is above the law, regardless of status or connections. “As we speak, the passenger is going…

THE Minister of Power, Chief Adebayo Adelabu, has assured Nigerians that President Bola Ahmed Tinubu remains committed to delivering uninterrupted electricity supply before the end of his administration in 2027. Speaking on Sunday during the commissioning of the Kwaru 1X15MVA 33/11KV injection substation in the Ikotun-Egbe area of Lagos State, Adelabu stated that significant progress is being made under the Renewed Hope Agenda to reform Nigeria’s power sector and end the cycle of unreliable supply. “Nigerians can be assured of the President’s determination to ensure that citizens enjoy full and uninterrupted electricity supply before he leaves office,” the Minister said.…

TRANSNATIONAL Corporation Plc (NGX: TRANSCORP), one of Nigeria’s leading conglomerates, has announced its half-year 2025 unaudited financial results, showing impressive growth across its diversified portfolio. The Group reported a 59% year-on-year increase in revenue, reaching ₦279.7 billion, while profit before tax rose by 21% to ₦85.7 billion, up from ₦70.9 billion in H1 2024. Despite prevailing macroeconomic challenges, Transcorp Group continues to deliver exceptional results, with its operations in power, hospitality, and energy sectors driving consistent value for shareholders. As part of its commitment to shareholder returns, the company declared an interim dividend of ₦4.064 billion, representing 40 kobo per…

TRANSCORP Power Plc (NGX: TRANSPOWER), a leading Nigerian power generation company under Transnational Corporation Plc (Transcorp Group), has reported an impressive financial performance for the half-year ended June 30, 2025. According to its unaudited results released on July 28, 2025, the company recorded ₦205.8 billion in revenue, marking a 52% increase compared to ₦135.4 billion reported during the same period in 2024. The growth was driven by enhanced generation capacity, increased efficiency, and strategic investment in operational infrastructure. Profitability remained solid, with a gross profit of ₦77.6 billion, up from ₦62.9 billion in H1 2024. Profit before tax also climbed…

ELECTRICITY consumers across parts of Lagos State are set to experience intermittent power outages starting Monday, July 28 to Thursday, August 1, 2025, as the Transmission Company of Nigeria (TCN) embarks on a scheduled maintenance operation. The Eko Electricity Distribution Company (EKEDC) issued the alert in a customer notice on Friday sighted by News Point Nigeria, stating that the outages will occur daily from 8:00am to 5:00pm during the four-day period. According to EKEDC, the disruption is necessary to enable TCN to conduct critical maintenance work on the Omotosho – Ikeja West 330kV transmission line, a major supply route within…

AFRICA’s richest man Aliko Dangote has retired as the Chairman of the Board of Directors of Dangote Cement Plc. In a statement on Friday, a spokesman for the company, Anthony Chiejina made available to News Point Nigeria, said the retirement took effect from July 25, 2025. “He is relinquishing his position as chairman and retiring from the board so as to focus more attention on the Refinery, Petrochemicals, Fertiliser and Government Relations, in order to drive the company’s five-year business trajectory to a superlative height,” the statement read. Subsequently, the Board of the company announced the appointment of Emmanuel Ikazoboh,…

Delivers N1.024bn Interim Dividend As Gross Profit Soars by 71% TRANSCORP Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has announced an impressive financial performance for the first half of 2025, with a 60% year-on-year revenue growth and a 71% surge in gross profit. The unaudited H1 results for the period ended June 30, 2025, reveal that the company’s revenue grew from ₦29.72 billion in H1 2024 to ₦47.57 billion in the same period of 2025. Gross profit also climbed significantly to ₦36.21 billion, up from ₦21.19 billion recorded in the previous year, reflecting a gross profit margin of…

THE Federal High Court in Lagos has ordered the Inspector-General of Police and the Lagos State Commissioner of Police to jointly pay ₦10 million in damages to a group of #EndSARS protesters over the violation of their fundamental human rights. News Point Nigeria reports that Justice Musa Kakaki, who delivered the ruling, found that the applicants were unlawfully harassed during the October 20, 2024, fourth #EndSARS memorial rally, held to commemorate victims of police brutality and the 2020 Lekki Toll Gate shooting. In his judgment, the judge emphasized that while law enforcement officers have constitutional duties to maintain public order,…

THE Governor of Bauchi State, Senator Bala Mohammed, and the Minister of Information and National Orientation, Mohammed Idris, have expressed deep concern over the growing menace of fake news, misinformation, and disinformation, warning that these trends pose significant threats to Nigeria’s unity, stability, and democracy. They spoke on Wednesday at the third Lateef Jakande Annual Memorial Lecture in Lagos, themed “Journalism and the Challenges of Nation Building in a Multi-Ethnic Society,” organized by the Nigerian Guild of Editors (NGE). Represented by his Chief of Staff, Dr. Aminu Gamawa, Governor Mohammed said the digital revolution has created both opportunity and danger.…

THE Nigeria Customs Service, Area 2 Command in Onne Ports, has seized 16 containers laden with illegally imported pharmaceutical products and goods worth N20.549 billion at the Onne Ports in Rivers State. The Customs said most of the seized items included illegal pharmaceutical products such as Codeine syrup, extra Diclofenac, Tramadol, as well as cartons of cream systematically concealed in an attempt to beat import protocols. The Comptroller-General of Customs, Bashir Adeniyi, disclosed this while displaying the seized items before newsmen at a news briefing at the Customs Area 2 Command in Onne on Friday. Adeniyi said the feat was…

THE Dangote Petroleum Refinery and Petrochemicals has suspended its strategic discounted fuel supply programme after uncovering a widespread scheme by affiliate marketers and strategic partners to divert subsidised fuel meant for the Nigerian retail market, leading to massive revenue leakage and distortion of market prices. In a letter dated July 13, 2025, signed by Fatima Dangote, Group Executive Director of Commercial Operations, and addressed to all participating partners, the refinery announced an immediate halt to its discounted pricing scheme, citing repeated abuses and fraudulent exploitation of the initiative by some licensed partners. The suspension comes after internal investigations revealed that…

THE Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, has welcomed the adoption of the African Democratic Congress by opposition leaders. He described the development as a healthy sign for democracy and a move that could promote broader political engagement across Nigeria’s multi-party system. Gbajabiamila stated this on Saturday during the Local Government Area Councilorship and Chairmanship election in Surulere, Lagos State. He spoke shortly after casting his vote at Elizabeth Fowler Memorial Primary School, one of the designated polling units in the local government. According to him, a functioning democracy must accommodate opposition voices to prevent the risk…

AFRICA’s richest man, Alhaji Aliko Dangote, has cast serious doubt on the future of Nigeria’s government-owned refineries, declaring that despite over $18 billion spent on their rehabilitation over the years, the facilities may never return to optimal production. Dangote, who spoke in Lagos on Thursday while receiving a delegation from the Global CEO Africa programme of the Lagos Business School, said it was unlikely that the Port Harcourt, Warri, and Kaduna refineries, operated by the Nigerian National Petroleum Company Limited (NNPCL), would ever function effectively again. According to the billionaire, years of wasteful spending and outdated infrastructure have rendered the…

CHAIRMAN of Nigeria’s Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, has revealed that he was forced to flee his home and now lives in a secret location under armed police protection after receiving death threats linked to his tax reform efforts. Speaking during a live radio interview on Nigeria Info FM, Oyedele said the threats began shortly after he announced a clampdown on more than 60 government agencies illegally collecting taxes and levies across the country. “I had to pack out of my house,” he said. “I rented a place in a secret location where I now…

UBA Group senior executives recently concluded the Group’s Half Year Business Review. Held at global headquarters in Lagos Nigeria, Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s twenty-four countries of operation. It was an opportunity to restate the Group’s pan-African strategy, and commitment to further expandingthe Group’s coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets. With over 51.7% of Group revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence. The international strategic intent reinforces with theGroup’s…