FG launches national livestock programme in Plateau

The Federal Ministry of Livestock Development has launched the National Livestock Transformation Programme at the Grazing Reserve in the Wase LGA of Plateau.

Livestock minister Idi Maiha launched the programme during a visit to the grazing reserve on Thursday.

Mr Maiha said the initiative was part of the renewed hope agenda of the federal government, aimed at creating a value chain in the livestock industry.

He added that the programme would not tackle the rising security challenges in the area but would create job opportunities for residents.

“We are here in Wase grazing reserve to launch the pilot scheme of the livestock transformation programme of the federal government and demonstrate that this is possible under the leadership of President Bola Tinubu.

“We will construct mass housing for the herders and their families and earth dams for dry season irrigation of pasture so that once the animals are here, there will be no reason to leave this place for greener pastures.

“We will also construct and equip veterinary clinics for the health of the animals and primary healthcare clinics for the families of the herders. It is going to be completely solarised; we will rely on renewable energy so as to also fight issues of climate change,” he said.

The minister explained that his visit to the state also meant meeting with critical stakeholders to ensure the smooth commencement of the programme.

He added that the programme would also boost the state’s economy, insisting it would attract other businesses to Plateau.

The minister promised that the government would also construct road networks within the grazing reserve as part of the programme.

Sunday Akpa, Plateau’s livestock commissioner, said the initiative would complement the state government’s efforts toward boosting the livestock industry.

He said the state government would provide the necessary support for the programme’s success

EFCC probes NiMet boss Charles Anosike over multibillion-naira contract fraud

The Economic and Financial Crimes Commission has launched a probe into alleged multibillion-naira contract fraud linked to the director-general of the Nigerian Meteorological Agency, Charles Anosike.The anti-graft agency, according to its interrogatory correspondence dated March 28, 2025, and obtained by Peoples Gazette Wednesday night, said it was investigating a case involving NiMet, highlighting the need to seek information from Mr Anosike’s office.

The anti-graft agency requested Mr Anosike to provide information regarding the list of contracts executed by NiMet from 2023 to date.

It also demanded the list of registered contractors with the agency, evidence of requisite procurement and procedure sequel to the award of contracts, details of the accounts operated by the agency and any other information necessary to assist EFCC in its investigation.

“The request is made pursuant to Section 38 (1) & (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004,” the correspondence stated.

A spokesperson for NiMet did not return a request seeking comments about the probe on Wednesday night.

Mr Anosike was appointed to lead the weather service department in December 2023, elevating him from his previous position as the director of applied meteorological services, which lasted from 2021 until his latest appointment.

Meanwhile, NiMet workers, last month, embarked on an industrial action against poor working conditions, among other demands.

The workers accused NiMet of refusing to implement agreed financial allowances and unresolved entitlements, including wage awards, peculiar allowances, and outstanding payments from the 2019 minimum wage.

They also accused the management of prioritising executive retreats over significant training programmes for staff members.

However, they called off the strike after a closed-door meeting with the aviation minister, Festus Keyamo, in Abuja, last week.

Kenyan lawmaker Charles Were shot dead in traffic

AKenyan lawmaker, Charles Were, was shot dead at a traffic light on Ngong Road, near the City Mortuary roundabout on Wednesday.
A statement by the Kenyan National Police Service on Wednesday night confirmed Mr Were was shot dead by a man who highlighted from a bike and opened fire on him in a car.

“National Police Service (NPS) regrets to confirm the tragic and senseless shooting of Kasipul Member of the National Assembly, the late Hon. Charles Were,” the statement said.

The police said the attack on Mr Were, a member of Raila Odinga’s ODM party, “appears to be both targeted and premeditated.”

It added, “National Police Service condemns this heinous and senseless crime and will spare no effort in investigating the matter.”

President William Ruto urged the police to investigate this killing thoroughly.

“Those responsible must be held to account,” stated the Kenyan president.

Mr Odinga, leader of ODP, mourned the death of the politician.

“We have lost a gallant son of the soil! Hon Charles Ong’ondo Were is no more; mercilessly and in cold blood, gunned down by an assassin in Nairobi this evening,” said Mr Odinga on Wednesday.

Borno: Explosion rocks ammunition facility in Giwa Barracks

Fire razed an ammunition facility in Giwa Barracks in Maiduguri on Wednesday.Confirming the incident in a statement on Thursday, a spokesperson for the police in Borno, Nahum Kenneth, said the fire, which triggered loud explosions, was however later put out.

The incident happened at 10:30 p.m., causing munitions to detonate.

“A combined security and fire service response team arrived promptly on scene and successfully extinguished the fire.

“Preliminary investigations indicated that the unusually high ambient temperatures in Maiduguri at this time of year may have contributed to the outbreak,” said the police spokesman.

Walson-Jack salutes civil servants’ dedication on Workers’ Day

Didi Walson-Jack, the head of the civil service of the federation, has commended the Nigerian workers, particularly civil servants, for their resilience, hard work and patriotism to the nation.Ms Walson-Jack made the commendation in a message personally signed to mark the 2025 Workers’ Day celebration on Thursday in Abuja.

She said workers’ dedication had remained the bedrock of Nigeria’s development and progress.

“On this Workers’ Day, I extend heartfelt gratitude to all Nigerian workers, especially our dedicated Civil Servants, whose resilience, hard work, and patriotism sustain our nation.

“Your commitment remains the bedrock of our progress.

‘’Today reminds us that through unity, innovation and excellence, we can overcome any obstacle and build a stronger, more prosperous Nigeria,” said Ms Walson-Jack.

She urged civil servants to uphold the highest standards of efficiency, productivity, integrity and commitment to national service.

“I salute your invaluable service and call on you to remain resolute in upholding the highest standards in service delivery.

“May your efforts be richly rewarded, and may our nation flourish through your dedication. Happy Workers’ Day,” she added.

May Day: NUP asks Gov Sani to pay N20 billion pension liabilities

The National Union of Pensioners in Kaduna has appealed to Governor Uba Sani to take urgent steps to pay the outstanding N20 billion pension liabilities it owes.Pause Unmute
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NUP secretary Alhassan Balarabe-Musa made the call in an interview on Thursday in Kaduna to coincide with the 2025 International Workers’ Day.

“The governor has paid over N3.6 billion in 2023. In all, he has paid over N10.4 billion from then to date. We are grateful that he has settled part of the pension liabilities he has inherited, but more efforts should be made in this direction,” said the NUP chieftain.

However, Mr Balarabe-Musa lamented that those under the contributory pension scheme had yet to receive a Kobo from 2017 to date.

According to him, those disengaged in 2017, especially under the local governments, have yet to be paid as their records are still missing.

Mr Balarabe-Musa also called on Sani to implement the N32,000 pension increase for the pensioners as directed by a recent federal government circular.

He said, “So if the pension increase is implemented, Kaduna state pensioners will receive a minimum monthly pension of N62,000.00. I want the governor to be the second one to implement it as only Yobe is the only state that has so far done so across Nigeria.

“He should emulate his predecessor, who was the first governor to implement the N30,000 minimum pension in February 2020

Nigeria’s revenue sharing formula ripe for review: RMAFC

The Revenue Mobilisation Allocation and Fiscal Commission says it will be more productive to review the nation’s revenue allocation formula every five years.The commission stated this in a communique issued at the end of the three-day retreat for newly inaugurated members and management staff in Uyo.

Signed by RMAFC chairman Mohammed Shehu and the secretary, Joseph Nwaze, the commission disclosed that the current revenue allocation formula had existed for 16 years.

It said the current formula was ripe for review.

It further called for the amendment of Section 162 (2) of the constitution to specify the time frame for the president to present a revenue allocation formula proposal to the National Assembly.

“The constitution should also be amended to enable local government councils to receive payments directly from the federation account,” it said.

The commission held that such an amendment would align with the July 11, 2024, Supreme Court judgment that granted financial autonomy to local government councils.

It further called for a constitutional amendment to include local government council chairpersons and councillors among the beneficiaries of the remuneration package listed in the 1999 Constitution.

RMAFC expressed its commitment to exercise its constitutional mandate of monitoring revenue accruals to ensure accurate and prompt remittance of revenues by the generating agencies.

The commission expressed the need to establish a national revenue dashboard that would interface with revenue-generating agencies for digitised real-time monitoring.

PRP calls for protection of labour rights

The Peoples Redemption Party has called on governments to protect citizens’ labour rights.

PRP spokesman Muhammed Ishaq made the call in a statement in Abuja on Thursday in commemoration of Workers’ Day.

It said the party would always stand in solidarity with Nigeria’s hardworking and resilient labour force.

“We take this opportunity to honour and appreciate the invaluable contributions of our workers, whose efforts drive the wheels of progress, foster economic vitality and sustain our national development.

“We call upon the federal and state governments to ensure that workers’ rights are upheld and that they are fairly compensated for their labour.

“Every day, they face challenges that demand resilience, dedication, and unwavering commitment in the face of economic uncertainties and social injustices,” the statement explained.

According to PRP, the government should not only commemorate the achievements of workers but should also reflect on the significant hurdles that remain.

PRP, therefore, on behalf of the party, pledged to continue to advocate for the welfare of all Nigerians, particularly the working class, especially the poor workers in the urban and rural areas.

“We urge all citizens to stand together in pursuit of a just and equitable society where the dignity of labour is honoured, and the voices of our workers are heard.

“As we celebrate May Day, let us commit ourselves to building a Nigeria where every worker is valued, esteemed and afforded the respect they so richly deserve,” the party stated.

Ibas salutes Rivers workers, pledges support for welfare

Ibok-Ete Ibas, Rivers’ sole administrator, has reaffirmed his administration’s commitment to workers’ welfare and industrial harmony.

Mr Ibas said this during a broadcast in Port Harcourt on Thursday to commemorate the Workers’ Day.

He acknowledged workers’ crucial role in developing the state and nation.
Ibas expressed gratitude for their dedication, resilience, and patriotism, particularly when facing challenges.

The administrator highlighted several initiatives to improve workers’ welfare, including prompt payment of salaries and pensions.

He also mentioned the resolution of salary disputes and the implementation of a minimum wage for all government employees and those of the local government.

Mr Ibas disclosed plans to review the contributory pension scheme to address concerns and funding gaps.

He announced the launching of an upcoming two-week leadership training programme for civil servants to enhance capacity and professionalism.

Mr Ibas assured workers that their welfare remained a top priority for the administration.

He restated the importance of workers rebuilding trust and ensuring the smooth functioning of government services and the state’s economy.

Amnesty’s latest report highlights terror under Tinubu’s watch

Human rights organisation Amnesty International has highlighted the killing of #Endbadgovernance protesters, treason trial of minors, unprecedented inflation and fatal stampedes at rice-sharing venues under President Bola Tinubu’s watch in its 2025 Annual Report on ‘The State of the World’s Human Rights’.PauseUnmute
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Published on Wednesday, the report, which documented human rights concerns in 2024 across 150 countries in the world, stated that in Nigeria, “journalists and critics of the authorities were arrested, charged and arbitrarily detained.”

The report cited the “arbitrary arrest and detention” of journalists Daniel Ojukwu, Segun Olatunji, Muktar Dahiru, and Fisayo Soyombo and the House of Representatives’ failure to push for the ‘Counter Subversion Bill, which aimed to impose strict penalties on Nigerians who failed to recite the newly approved national anthem, or who criticized politicians or community leaders.

The report alleged that Mr Tinubu’s government placed unlawful restrictions on the rights to freedom of peaceful assembly and association.

“Security forces arrested and illtreated protesters and used excessive force to quash protests, resulting in the deaths of several protesters,” it noted.

It added, “Following the #EndBadGovemance protests from 1 to 10 August, more than 1,000 people were detained nationwide, and at least 24 protesters were killed in violent crackdowns by the security forces in the cities of Kano and Maiduguri and in the states of Jigawa, Katsina, Niger and Kaduna.”

The human rights organisation further highlighted how Mr Tinubu-led government arraigned #EndBadGovernance, many of whom were children, before an Abuja division of Federal High Court “on bogus charges, including felony and treason, conspiring to destabilise Nigeria, inciting mutiny, and levying war against the Nigerian state”.

On economic and social-cultural rights of Nigerians under Mr Tinubu, Amnesty International stated that an inflation rate of 33.4 per cent, an increase of 9.32% from July 2023, and the high cost of goods and services caused a drop in people’s standard of living.

Between December 18 and 22, the report said 67 people, the majority of them on the brink of starvation, were killed in stampedes while trying to get free meals at charity events.

On 18 December, 35 children died in Ibadan town in Oyo state. On 21 December, 22 people died in Okija town in Ihiala LGA of Anambra. On 21 December, 10 people died in Abuja, FCT.

Bayo Onanuga, spokesperson for Mr Tinubu, did not immediately reply to a request for comments

Trump’s tariff inviting recession, Kamala Harris warns

Former U.S. Vice-President Kamala Harris has accused President Donald Trump of abandoning America’s ideals, dismissing Mr Trump’s push for tariffs as inviting recession.In a speech since leaving office in January at a gala event for Emerge America in San Francisco on Wednesday, Ms Harris criticised Mr Trump’s government as it marked 100 days in office amid a report on the shrinking economy.

“Instead of an administration working to advance America’s highest ideals, we are witnessing the wholesale abandonment of those ideals,” Ms Harris said. “A vessel is being used for the swift implementation of an agenda that has been decades in the making. An agenda to slash public education. An agenda to shrink government and then privatise its services all while giving tax breaks to the wealthiest among us.”

Ms Harris, who Mr Trump defeated in the November presidential election, warned that the U.S. president’s tariff policy is inviting recession upon America.

“Some people are describing what’s been happening in recent months as absolute chaos. And, of course, I understand why. It’s certainly true of those tariffs. Tariffs that — as I predicted — are clearly inviting a recession,” Ms Harris said.

She closed her speech, saying, “This country is ours. It doesn’t belong to whoever is in the White House. It belongs to you. It belongs to us. It belongs to ‘We the People’.”

In a post on Truth Social on Wednesday, Mr Trump called for patience because he inherited the shrinking economy from his predecessor, Joe Biden.

“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers,” Mr Trump said.

He claimed America “will boom, but we have to get rid of the Biden ‘Overhang’”.

“This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other,” stated Mr Trump in his post. “BE PATIENT!!!”

Money Laundering: Attorney hails court ruling, says Achimugu innocent until proven guilty

Chikaosolu Ojukwu, counsel to Aisha Achimugu, Felak Concept Group CEO and Governor Babajide Sanwo-Olu’s paramour, on Wednesday, said that the order for the release of Achimugu from the custody of the Economic and Financial Crimes Commission within 24 hours was a victory for the justice system.Mr Ojukwu made the statement in an interview with journalists after the Federal High Court, Abuja Division, ordered the release of the embattled Ms Achimugu.

He said that the order reaffirmed the power of the law.

The attorney noted that Ms Achimugu was detained on Tuesday over alleged money laundering and fraud.

“The Federal High Court in Abuja has ordered immediate release of Mrs Aisha Achimugu, the CEO of Felak Concept Group, from the custody of the Economic and Financial Crimes Commission,” he said.

The counsel described the ruling as a landmark. He added that it showed the strength of Nigeria’s legal system and commitment to justice.

According to him, the order given by Justice Inyang Ekwo sent a clear message that every individual is presumed innocent until proven guilty.

“This ruling reinforces the foundational principle of the Nigerian constitution that every individual is presumed innocent until proven guilty in a court of law,” Ms Achimugu’s attorney said.

May Day: Osun workers voice demands

As workers in Osun State join their counterparts nationwide to commemorate this year’s International Workers’ Day, they have highlighted key demands and expressed concerns over current government policies.The workers, mostly from the public sector, in a chat with naija premium gist, called for improved working conditions, economic reforms and greater government accountability.

Calling on both the federal and state governments to prioritise workers’ welfare, they insisted that their plight could no longer be ignored as they are the engine room of national development.Several workers interviewed said they are yet to feel the impact of the federal government reforms.

Onigbinde Isaac, an Osogbo-based teacher noted that many of them were struggling to cope with the rising cost of living, worsened by the removal of fuel subsidies and the floating of the naira.

He also called for immediate economic interventions to mitigate the effects.We demand a realistic minimum wage that reflects today’s economic realities. What workers earn now can no longer sustain them and their families,” he said.

Speaking to naija premium gist, Foluke Adebayo, a primary school teacher, lamented the persistent delay in salary payments.

“Sometimes we are paid late, and even when we get it, the value has dropped due to inflation,” he said.Tunde Salami, a welder also decried the poor electricity supply in some parts the state, which they say has crippled businesses and affected productivity.

He also criticised the ongoing electricity sector privatisation, describing it as ineffective.

According to him, “Without power, artisans and small businesses cannot survive. Despite privatisation, we are still battling blackouts daily.”Security, healthcare, education, and social welfare were also among the workers’ demands.

Modupe Alabi, a nurse in Osogbo said, “We keep hearing of economic recovery plans, but nothing changes in our pockets. We want better funding for public services to improve our lives.”

The inflation rate, currently at record highs, was a recurring theme in the workers’ complaints.

Many said their take-home pay no longer covers basic needs like food, transport, and rent.

NewsOnly N44.2bn disbursed from N203.8bn student loan fund – ICPC probes schools

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered major discrepancies in the administration of the Nigeria Education Loan Fund (NELFUND), revealing that only ₦44.2 billion of the ₦203.8 billion allocated for student loans has so far been disbursed.NewsOnly N44.2bn disbursed from N203.8bn student loan fund – ICPC probes schools The breakdown showed that ₦10 billion was from the Federation Allocation Account Committee (FAAC), ₦50 billion came from the Economic and Financial Crimes Commission (EFCC), ₦71.9 billion was from the Tertiary Education Trust Fund (TETFund), and another ₦71.9 billion was also from TETFund,” the Commission said.

Out of this amount, only ₦44.2 billion has been disbursed to date, benefiting 293,178 students across 299 tertiary institutions.

“A clear case of discrepancies has been established in the administration of the student loan scheme,” the statement read.The Commission confirmed that its Chairman’s Special Task Force had dispatched letters of investigation to several stakeholders, including the Director General of the Budget Office, the Accountant General of the Federation, and senior officials of the Central Bank of Nigeria. It also invited the Chief Executive Officer and Executive Director of NELFUND to provide documentation.

“The responses received were critically analyzed, and interviews were conducted with the concerned individuals,” the ICPC added.

It stated that the probe has now been expanded to cover both beneficiary institutions and individual student recipients to determine the full extent of the anomalies.The statement further stated that further updates will be provided as the investigation progresses.

US, Ukraine finally sign minerals deal

The United States have finally signed a minerals deal with Ukraine.America announced an economic partnership with Ukraine following negotiations.

The deal between both countries will give Washington access to Kyiv’s rare earth minerals.A statement from the US Treasury Department noted that the two nations have agreed to form a “Reconstruction Investment Fund”.

They will collaborate to ensure that “mutual assets, talents, and capabilities” can accelerate Kyiv’s recovery.

Ukrainian First Deputy Prime Minister, Yulia Svyrydenko, also confirmed the agreement, sharing photos from her visit to Washington DC on Wednesday.One of her photos includes Svyrydenko and US Treasury Secretary Scott Bessent, as well as the teams that negotiated the deal on behalf of each country.

“This document is capable of delivering success for both our countries – Ukraine and the United States,” she wrote with her post.

“God bless Ukraine and God bless the United States of America.”

Tinubu’s Inflation: Ecobank increases SMS alert charge

Ecobank has increased its cost of SMS alerts to N6 from N5, effective May 1, 2025. The hike was announced in an email sent to its customers on Wednesday, citing a “revised tariff” for the change.

“We understand that this change may cause some inconvenience and want to assure you that the decision was made after careful consideration.

“We remained committed to delivering the best possible service and sincerely appreciate your understanding and continued support,” the email stated.

The increase came after recent tariff hikes by telecom operators that jerked up prices for data and voice calls, citing rising operation costs in the country.

Although financial institutions rely on SMS to notify customers of account transactions, many offer email alerts as a free alternative.

According to the National Bureau of Statistics, Nigeria’s headline inflation rate rose to 24.23 per cent in March 2025.

Meanwhile, finance minister Wale Edun has said the federal government plans to reduce the inflation rate to single digit and create more jobs.

Mr Edun stated this during a press conference at the International Monetary Fund and World Bank Spring Meetings on Saturday in Washington D.C.

11 killed in fresh clashes near Damascus

Eleven people have been killed in clashes in a Damascus suburb as armed groups attacked civilians and security forces, Syria’s official SANA news agency reported on Wednesday.Since late Tuesday, armed groups have been firing on civilian and public security vehicles on the roads, while other assailants attacked a checkpoint in Sahnaya city, south of the capital, SANA reported.

Residents told DPA that machine guns and rocket-propelled grenades had caused damage to homes and cars and left many residents frightened for their safety.

Security forces had advanced to the centre of Sahnaya amid heavy gunfire to reach Druze-dominated neighbourhoods in the city, one resident said.

The clashes in Sahnaya came one day after violence erupted in the town of Jaramana, also near Damascus, sparked by an audio recording of a person insulting the Muslim prophet Mohammed.

At least 17 were killed in the Jaramana clashes, according to the UK-based Syrian Observatory for Human Rights.

The recording was attributed to a member of the Druze community, sparking clashes between members of the Druze community and other groups.

On Tuesday, the interior ministry said they are still working to identify the person speaking in the recording.

A statement from the Druze community in Jaramana said the recording was fabricated to incite sedition.

Since the overthrow of long-time ruler Bashar al-Assad in December, Syria’s new Islamist leadership has called for unity and promised inclusivity, but deadly violence has repeatedly broken out.

In March, clashes erupted between Syrian security forces under the country’s new authorities and gunmen loyal to al-Assad in Syria’s western coastal region.

The fighting left hundreds dead.

Trade ministry partners stock exchange to achieve $6 billion investment target

The Federal Ministry of Industry, Trade and Investment has partnered with the Nigerian Exchange Group to achieve its ambitious $6 billion investment targetIn a statement on Tuesday, the ministry underscored its commitment during a closing gong ceremony at the NGX in Lagos.

Trade minister Jumoke Oduwole outlined FMITI’s ambitious target to facilitate $6 billion in foreign investment into Nigeria’s productive economy in 2025.

Ms Oduwole was at the stock exchange to perform the distinguished closing gong ceremony on the Nigerian Exchange in Lagos on April 28.

Explaining further the financial targets and strategic vision of the $6 billion target, she said $3 billion was projected to come from foreign direct investment into key sectors.

According to her, such sectors include infrastructure, manufacturing, agribusiness, technology, and renewable energy.

Ms Oduwole explained that these sectors were pivotal to creating jobs, promoting exports, and enhancing Nigeria’s productive capacity. She said another $3 billion would be mobilised through foreign portfolio investment (FPI) by leveraging innovative financial instruments like green bonds, diaspora-linked securities, and SME-focused platforms.

She noted that these efforts aimed to deepen market liquidity and align capital flows with national priorities.

Ms Oduwole emphasised the integral role of capital markets in driving economic resilience and sustainable growth.

She said, “Deepening Nigeria’s capital markets is fundamental to improving investment flows, creating jobs, and sustaining long-term economic resilience.”

Ahonsi Unuigbe, chairman of NGX, reinforced the importance of this collaboration.

Temi Popoola, group managing director of NGX Group, highlighted the exchange’s technology-driven vision.

Ukrainian drone attack sparks fire at Russian industrial site

A Ukrainian drone attack ignited a fire on Wednesday at an industrial site in the Russian city of Murom, about 300 kilometres east of Moscow.According to Russian Telegram news channel Astra, citing local residents, the target was a factory producing ignition devices.

However, the governor of the Vladimir region, Aleksandr Avdeyev, said on Telegram that only a warehouse had caught fire.

He added that the blaze, now extinguished, was triggered by falling drones.

Russia’s Defence Ministry said that 34 Ukrainian drones were shot down overnight, including three over the Vladimir region.

Ukraine had been defending itself against Russia’s full-scale invasion for more than three years, with substantial Western support.

As part of its military response, Kiev had frequently targeted sites inside Russian territory.

However, the damage and casualties caused by Ukrainian strikes were limited compared to the destruction and human suffering inflicted by Russia’s war in Ukraine.

Lokpobiri hails NNPCL, Caverton, Stenabulk joint venture as strategic

Junior petroleum minister Heineken Lokpobiri has described the joint venture between Nigerian National Petroleum Company Limited, Caverton Offshore Support Group and Stenabulk as a strategic industry alignment.Mr Lokpobiri also said the JV was a bold step toward enhancing shipping operations, strengthening local content, and driving economic growth.

A statement on Wednesday said that the minister, who spoke during a strategic engagement with the JV partners, restated the importance of cross-sector collaboration in achieving national profitability goals.

He attributed the JV to President Bola Tinubu’s leadership and foresight in industry reforms.

“This joint venture is a testament to the president’s vision. It reflects the kind of impact-driven collaboration that we believe will transform the energy sector and strengthen Nigeria’s economic position.

”For us to maximise expected profitability and deliver long-term value to the nation, every sector of the industry must be actively firm and aligned with one another. The JV represents a practical example of the government’s local content aspirations becoming reality,” he said.

Mr Lokpobiri expressed satisfaction with the partnership with Caverton, an indigenous firm.

The chief operating officer of Caverton Offshore Support Group, Olabode Makanjuola, affirmed the company’s readiness to deliver on the objectives of the joint venture.

The general manager of Stenabulk, Fredrik Eriksson, also described the partnership as a unique opportunity to merge international shipping expertise with local operational strength.