NEWS
JUST IN: Fuel Marketers Warn Of Shutdown Over N200bn Debt
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has issued a stern warning, indicating a potential halt in the supply of Premium Motor Spirit (PMS) due to unpaid bridging claims amounting to ₦200 billion.
This announcement follows a nationwide fuel scarcity, causing pump prices to surge between N610 and N800, while black market rates reach as high as N1000 to N1200.
Mazi Oliver Okolo, the spokesperson for IPMAN’s Aba Depot Unit, emphasizes that this action is supported by the association’s national leadership, citing outstanding debts owed by the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA).
Following a press conference on Tuesday, Okolo, in a communique, revealed that despite a directive from Petroleum Minister (Oil) Heineken Lokpobiri for payment, the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA) has neglected to settle the ₦200 billion debt.
The IPMAN depot Chairman lamented that since the minister’s directive in February 2024, only ₦13 billion had been disbursed to their members, resulting in severe business disruption due to the outstanding claims.
He said “We are extremely distressed and depressed by the laidback attitude of the leadership of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), towards the survival of our member’s businesses, arising from NMDPRA’s deliberate delay and refusal to offset the debt of over N200 Billion owed our members, which has consequently led to the deaths of many of our members and the unfortunate collapse of their businesses.”
Blaming the Nigerian National Petroleum Company Limited (NNPCL), the exclusive importer of petroleum products, for the ongoing nationwide petrol scarcity, he highlighted that some IPMAN members have ceased operations entirely, leading to employee layoffs.
The statement reads “We have watched with apprehension also, the unpatriotic attitude of the leadership of the NMDPRA to offset this debt that has been accrued to us since September 2022. As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running daily across the nooks and crannies of Nigeria, to serve the teeming population of Nigerians.
“However, it is demoralising to know that many of our members have gone bankrupt and have become financially insolvent as a result of their inability to meet their financial
obligations to their banks, arising wholly from their inability to get their monies from the NMDPRA.
“Consequently, also, the banks have taken over the business premises of many of our members. As indigenous organisations, and Depot Chairmen, we are unhappy that rather than receive support from the government to boost our businesses, we are being discouraged, by the head
of NMDPRA.
“It is noteworthy to recall and state here that at a stakeholders meeting held on the 20th of February, 2024 with Mr. Heineken Lokpobiri, the Honourable Minister of Petroleum Resources (Oil), and the NSA Nuhu Ribadu, Engr. Farouk Ahmed, the Chief Authority of NMDPRA, was mandated by Mr. Heinehken
Lokpobiri to clear the entire debt in 40 days.
“However today, we have crossed the 40 days time-lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13Billion has been paid, thus going the whole length to ignore our plight without remorse and without recourse to the Honourable Minister’s directive.
Okolo also alleged that NNPC Ltd imports the products and supplies them to private depots at inflated prices ranging from ₦820 to ₦950 per litre.
He further stated that IPMAN members incur an additional ₦2 million in transportation costs to distribute the fuel to other parts of the country, making it challenging to sell at the agreed pump price.
IPMAN members are urging President Bola Tinubu to urgently address this issue, which they argue severely affects their businesses and will subsequently impact the masses negatively.
The group said “We see no reason why there should be an increment of over 500% on the Sales and Storage License by the NMDPRA. We totally reject it.
“We also hereby call on the federal government of Nigeria to wholly intervene forthwith in these lingering issues between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA).
“We are poised to take far-reaching decisions that may cripple the supply and sales of petroleum products across Nigeria, if our demands are not met within the shortest period.”
NEWS
‘A Nation Cannot Escape the Bill’ — Atiku Questions Tinubu’s Third UNGA Absence
Former Vice President Atiku Abubakar has questioned President Bola Tinubu’s third consecutive absence from the United Nations General Assembly (UNGA), demanding an explanation for the president’s decision not to attend the global gathering.
Atiku made the remarks in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, as Vice President Kashim Shettima leads Nigeria’s delegation to the 81st UNGA in New York.
According to Atiku, Tinubu was absent from the 79th UNGA in 2024 and the 80th session in 2025, and has again stayed away from the 81st session in 2026.
ALSO READ: ‘Calling Tinubu Bola, Giving Him Orders Is Insolence’ — Sunday Dare Blasts Atiku
The former vice president said the repeated absences could no longer be regarded as a coincidence or routine delegation, arguing that they required an explanation.
Atiku also questioned whether Tinubu’s documented history with United States law-enforcement agencies had become a burden on Nigeria’s foreign relations.
“The United Nations General Assembly is one of the world’s most important diplomatic gatherings. It brings together the representatives of the UN’s 193 member states and provides a unique platform for presidents and prime ministers to defend their countries’ interests, negotiate partnerships and shape global decisions on trade, security and development,” Atiku said.
He acknowledged that Shettima could represent Nigeria at the gathering but maintained that the vice president’s representation could not permanently substitute for the president’s personal authority and visibility.
“Vice President Shettima may represent Nigeria capably, but representation by delegation cannot permanently substitute for the personal authority, visibility and responsibility of the president,” he said.
“Tinubu cannot continue to treat Nigeria’s seat at the world’s biggest diplomatic table as though it were an inconvenient appointment that can be endlessly outsourced.”
Atiku further argued that UNGA was not simply a ceremonial event, noting that important bilateral meetings, investment discussions, trade negotiations and development-financing engagements take place on the sidelines of the gathering.
“Presidential absence on the global stage has consequences. UNGA is not merely a ceremonial gathering or an annual photo opportunity,” he said.
“Its side-lines are where leaders hold decisive bilateral meetings, court investors, negotiate trade partnerships, mobilise development finance and make the case for their countries.”
The former vice president said Nigeria could lose investment and other economic opportunities as a result of the president’s continued absence.
“When a president makes himself absent from that stage for three consecutive years, his country loses opportunities. Investment does not follow silence. International capital does not pursue a country whose leader repeatedly abandons the room in which consequential economic relationships are being built,” Atiku said.
He linked the issue to investment, employment and capital inflows, arguing that reduced investment could increase pressure on the naira and contribute to higher costs for Nigerians.
“The cost is eventually transferred to ordinary citizens: fewer investments mean fewer businesses and fewer jobs. Reduced capital inflows place additional pressure on the local currency,” he said.
“A weaker naira raises the cost of imports, production, transportation and food. These are among the economic pressures now punishing Nigerian families through the worst cost-of-living crisis in living memory.”
Atiku concluded by saying that while the president could regard attendance at UNGA as a matter of personal prerogative, Nigeria would ultimately bear the consequences of the decision.
“Tinubu may consider attending UNGA a matter of personal prerogative, but the economic and diplomatic consequences of his absence are being paid by Nigerians. A President may surrender his seat, but a nation cannot escape the bill,” he said.
NEWS
Tinubu Reacts as Former Kogi Governor Ibrahim Idris Dies at 77
President Bola Ahmed Tinubu has reacted to the death of former Kogi State Governor, Alhaji Ibrahim Idris, who died on Sunday at the age of 77.
Tinubu expressed deep sorrow over the former governor’s death and extended his heartfelt condolences to the Idris family, the government and people of Kogi State, as well as his friends, associates and political colleagues.
The President’s reaction was contained in a statement issued on Monday, September 21, 2026, by his Special Adviser on Information and Strategy, Bayo Onanuga.
SEE MORE: Tinubu Sets October 1 Deadline for Lower Transport Fares Nationwide
Tinubu described Idris’ death as a significant loss to Kogi State and Nigeria, noting that the former governor devoted a substantial part of his life to public service and the development of the state.
Ibrahim Idris served as Governor of Kogi State from 2003 to 2011.
According to the President, Idris’ administration recorded interventions in infrastructure, education, healthcare and other critical sectors.
Tinubu also acknowledged the late former governor’s contributions to Nigeria’s democratic development and his many years of engagement in public affairs.
The President said: “Alhaji Ibrahim Idris was a committed public servant whose years in office formed an important chapter in the political and developmental history of Kogi State.
“His passing is a painful loss to his family, Kogi State and Nigeria. At this difficult moment, we must remember and honour his contributions to the growth of his state and our nation.
“I extend my deepest condolences to his family and the people of Kogi State. May Almighty Allah forgive his shortcomings, accept his good deeds and grant him Aljannah Firdaus.”
Tinubu further prayed that Almighty Allah would grant the deceased’s family the strength and fortitude to bear the loss.
NEWS
Why Ondo is Buying Dangote Shares for 500 Citizens
In the bid to promote wealth creation and expose youths to investment opportunities, the Ondo State Government has unveiled plans to buy shares for 500 young entrepreneurs in the state in the Dangote Group.
Ondo State Governor, Lucky Aiyedatiwa, made the disclosure on Saturday at the 2026 ONDEA Entrepreneurs Summit in Akure, with the theme: “Positioning entrepreneurs for emerging opportunities”, where he also launched the Lucky Light Initiative, a programme designed to provide reliable solar power support for 1,000 small businesses across the state’s 18 local government areas.
READ ALSO: NMDPRA Points to PIA for Price Control Lapses
The governor also unveiled an N80 million grant package for 20 entrepreneurs under the Ondo State Entrepreneurship Agency (ONDEA) My IDEA initiative, with each beneficiary receiving N4 million alongside business support, mentorship and international business exposure opportunities.
Aiyedatiwa further promised to purchase shares in the Dangote Group of Companies for 500 young entrepreneurs in Ondo State as part of efforts to expose them to investment opportunities and encourage wealth creation.
He said the initiatives form part of his administration’s vision to transform Ondo from a civil service-driven economy into an entrepreneurship and innovation hub.
According to him, the state is deliberately building an entrepreneurial ecosystem that connects ideas to skills, skills to businesses, businesses to finance and businesses to markets.
“Our fundamental objective is to move from simply producing raw materials to processing, packaging, branding and exporting value-added products. We must build enterprise not only for markets within Ondo State, but other parts of Nigeria and ultimately to the world,” Aiyedatiwa stated.
He said ONDEA has become a strategic platform for opening opportunities for entrepreneurs through business formalisation, training, equipment support and enterprise development.
The governor noted that the number of beneficiaries under the ONDEA My IDEA programme was increased from 10 to 20 to accommodate more innovative entrepreneurs.
On the Lucky Light Initiative, Aiyedatiwa said the programme would provide clean and affordable energy to small businesses to enhance productivity and reduce operating costs.
“Lucky Light is an initiative designed specifically to support 1,000 small businesses with reliable, clean and affordable power. It is not a household electrification programme; it is an economic intervention designed to power businesses across all 18 Local Government Areas of Ondo State,” he said.
While speaking during the summit, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, represented by his Special Adviser, Toba Oyedele, said entrepreneurs would be central to the Federal Government’s ambition of building a $1 trillion economy by 2030.
He urged entrepreneurs to take advantage of emerging opportunities created by economic reforms, innovation and investment initiatives.
Speaking on the impact of the summit, the Special Adviser to the Governor on Entrepreneurship, Innovation and Investment, Dr Summy Smart Francis, said the event demonstrated the state’s commitment to entrepreneurship and innovation.
“We received over 2,703 applications. We have three levels of screenings and they get to the final judges where we identify the 20 ideas that have the strategy to be able to add economic impact to the state. Each of them was given N4 million and they are entitled to a business trip outside the country,” Francis said.
Also speaking, media entrepreneur and former Managing Director of TVC Entertainment, Morayo Afolabi-Brown, called for increased investment in the Southwest, saying the region possesses vast opportunities beyond Lagos and should attract greater economic attention.





