NEWS
2027: APC Plots Major NWC Shake-up Ahead of Dec Convention
Barring any last-minute changes, the All Progressives Congress is expected to set up a convention planning committee during its National Executive Committee meeting scheduled for July 24.
The committee will oversee preparations for the party’s National Elective Convention scheduled for December, where new members of the National Working Committee are to be elected, the Punch reports.
Citing reliable party sources, who spoke on condition of anonymity due to lack of authorisation, the newspaper further revealed that apart from replacing the national chairman, APC governors and other NEC members are pushing for a full elective convention to replace all current NWC members ahead of the 2027 elections.
Meanwhile, several NWC members have reportedly begun lobbying to limit the shake-up to just the replacement of the acting national chairman, Ali Bukar Dalori.
Article 12 (4) of the APC Constitution 2022 (as amended) lists the 22 positions that make up the National Working Committee.
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The NWC includes the National Chairman, Deputy National Chairman (North), Deputy National Chairman (South), National Secretary, Deputy National Secretary, six National Vice Chairmen—one from each geopolitical zone (referred to as Zonal Chairmen), National Legal Adviser, National Treasurer and National Financial Secretary.
Others include National Organising Secretary, National Welfare Secretary, National Publicity Secretary, National Auditor, National Woman Leader, Deputy National Woman Leader, National Youth Leader, and National Leader of Persons Living with Disabilities.
Also, Article 17 titled Tenure of Office (i to iii) stated, “Except as otherwise provided in this constitution, all officers of the party elected or appointed into the party’s organs shall serve in such organs for a period of four (4) years and shall be eligible for re-election or re-appointment for another period of four (4) years only, provided that an officer elected or appointed to fill a vacancy arising from death, resignation or otherwise will notwithstanding be eligible for election to same office for two terms.
It added, “No member shall serve in the same office for more than eight (8) years continuously, except a person who first came to the office by filling a vacancy or whose tenure was truncated as a result of the decision of an organ of the party authorised to do so and not on grounds of disciplinary action.
“No member can be an Officer at the National and State levels of the party concurrently, other than being an ex-officio member of that organ.”
Despite the constitutional provision, no national chairman or NWC member has completed a full four-year term at the helm of the ruling party, as their tenures are often cut short.
Most recently, on June 27, 2025, was the resignation of former Kano State Governor, Abdullahi Ganduje, as national chairman.
This is reportedly linked to internal political manoeuvring and strategic positioning within the APC ahead of the 2027 general election.
On June 30, APC Deputy National Secretary, Festus Fuanter, announced that the party’s NEC meeting would be held in Abuja on July 24.
According to him, “And during the meeting, if they so desire that a new chairman is nominated, we’ll also accept such nomination and then wait for the convention where the final position of the party will be made as far as the substantive chairman is concerned.
“So, that’s as much as I can tell you. And the date, the suggested date for the NEC meeting is the 24th of July, 2025. It’s going to be here, on the premises of the APC.”
A reliable source told The PUNCH that Dalori is expected to remain in office until December when party delegates will elect new members of the NWC.
The source stated, “Most of the critical stakeholders and even the Presidency are not interested in nominating a new national chairman during the NEC meeting slated for July. What many have supported so far is an elective convention.
“So, at the NEC, the party may constitute a convention planning committee. I said this because the governors and other party leaders want a total change of the current NWC.
“There may be a national elective convention in December. Nobody is planning to replace Dalori in July to the best of my knowledge. Dalori will lead the party to a convention where new leaders of the party will emerge.”
Another source also confirmed that the party was preparing for a December convention to elect new NWC members to reflect the interests of certain governors and recent entrants into the ruling party.
The source said, “The ongoing conversation among party leaders is centred on the December convention. They are concerned about how new NWC members will emerge and lead the party into the 2027 elections.
“It’s not just about replacing Ganduje; the December convention is intended to produce new party leaders.
“This is seen as crucial to accommodate those who have recently joined the party and those expected to join before then, especially governors who are becoming influential in the APC’s national leadership.
“As we speak, some NWC members are already lobbying. They want to retain their positions and are trying to influence other NEC members to simply announce Ganduje’s replacement. But the broader plan is to hold a December convention to elect a new set of party leaders.”
He added, “In the coming days, the governors will brief the President. If he gives his approval, the NEC meeting in July will then constitute the necessary committees.”
Attempts to reach the APC National Publicity Secretary, Felix Morka, for a response were unsuccessful, as his phone was unreachable at the time of filing this report.
NEWS
DPRP IPO: Dangote Rings Opening Bell at NGX
The much awaited Africa’s largest Initial Public Offering by the Dangote Petroleum Refinery and Petrochemicals (DPRP) has been formally flagged off on the Nigerian Exchange (NGX).
President and Chief Executive Officer, Dangote Industries Limited (DIL), Aliko Dangote, marked the commencement of the offer by ringing the opening bell at the NGX trading floor in Lagos on Monday.
The transaction marks a significant milestone for Nigeria’s capital market, as the DPRP becomes the first refinery in the Nigerian Exchange’s 66-year history to open its shares to public subscription.
READ ALSO: Dangote Refinery Opens Landmark IPO Today
The offer comprises 4.1 billion new ordinary shares priced at N525 per share, allowing investors to acquire an equity stake in Africa’s largest refinery.
Retail and institutional investors, as well as eligible investors across Africa, can participate in the public offer.
Investors can subscribe for a minimum of 10 shares, requiring an investment of N5,250 at the offer price.
The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms and conditions contained in the offer prospectus.
At the ceremony, Dangote highlighted that the public offer was part of a broader effort to expand public participation in owning his companies.
“We will lease every company that we operate,” he said.
The launch attracted prominent dignitaries, including Lagos State Governor Babajide Sanwo-Olu, members of the Dangote family and captains of industry.
NEWS
Dangote Refinery IPO: SEC Warns Investors Against Fraudsters, Fake Platforms
The Securities and Exchange Commission (SEC) has warned prospective investors against fraudsters, fake platforms and unauthorised individuals seeking to take advantage of the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO).
The Commission issued the warning in a public notice dated Monday, September 14, 2026, following its approval for the IPO by Dangote Petroleum Refinery and Petrochemicals FZE to open to the public.
The SEC urged investors to exercise caution and ensure that all applications and payments relating to the IPO are made only through the officially designated and approved receiving agents, subscription channels and platforms.
ALSO READ: Dangote Calls Refinery IPO ‘People’s IPO’ as N2.15tn Offer Opens
The Commission advised prospective investors to obtain information about the IPO only from the SEC’s official channels, the issuer’s official channels and other official channels established and approved for the offer.
It also urged investors to verify the authenticity of any website, platform or link before providing personal or financial information.
According to the SEC, investors should follow only the officially announced subscription or application process and IPO timetable and should “Avoid transferring funds to any person or entity claiming to receive applications/subscriptions outside the approved channels.”
The Commission further advised investors to verify that their chosen registered Capital Market Operator’s channels or platforms for the offer are duly authorised and approved.
The SEC also warned investors to “Avoid responding to unsolicited calls, WhatsApp messages, social media advertisements, emails or other channels/platforms that offer or guarantee allotments or preferential allocation.”
The regulator urged prospective subscribers to carefully read the approved Prospectus and understand the terms, conditions and risks associated with the investment before making any subscription.
SEC warns against fake IPO agents
The Commission stressed that the existence of an individual, company, digital platform or social media account does not, by itself, constitute approval or authorisation to receive applications or funds from investors in respect of the offer.
The SEC therefore advised prospective investors to contact SEC-registered stockbrokers, banks or registered Investment advisers for guidance before subscribing.
The Commission also urged the public to “VERIFY” the registration status of companies, entities, platforms or individuals offering investment opportunities before entering into any transaction with them.
Investors can verify the registration status of operators through the SEC’s dedicated portal for registered fintech operators or through the Commission’s Capital Market Operators platform.
The warning comes as the Dangote Petroleum Refinery and Petrochemicals IPO officially opens on Monday, September 14, 2026, following the Commission’s approval.
The Commission listed its contact details as +2342094621168-9 and [email protected], while its WhatsApp contact is 0916 772 3240.
The SEC urged investors to remain vigilant and rely only on verified and authorised channels throughout the IPO process.
NEWS
BREAKING: Dangote Refinery IPO Subscription Surpasses ₦1.4trn as Investor Demand Soars
Investor demand for the Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO) has reached a historic level, with subscription activity surging across digital investment channels.
Data released by the Nigerian Exchange (NGX) on its official X handle on Monday showed that total transaction volume had surpassed 402,634, pushing the total subscription value to ₦1,476,171,994,112, approximately ₦1.476 trillion.
The figures, displayed on the #NGXInvest command centre dashboard, highlight the strong appetite among investors for the landmark offering.
More details shortly.





