NEWS
PMB Promises 500,000 Jobs, $1.6bn Annual Revenue on Ajaokuta Steel
President Muhammadu Buhari counts the excess of $400 million expended on liberating the Ajaokuta Steel Complex as worthwhile because it promises over 500,000 jobs and $1.6 billion annual revenue.
Buhari made the assertion on Thursday, while commissioning the Palace of the Ohinoyi of Ebiraland, as part of his one-day state Visit to Kogi State.
According to a statement issued by Senior Special Assistant to the President on Media and Publicity, Garba Shehu, President Buhari is pleased that freeing Ajaokuta Steel Complex is a campaign promise fulfilled, which now positions Kogi State into Nigeria’s iron and steel powerhouse.
Titled, “APC has delivered on electoral promises, says President Buhari as he commissions projects in Kogi,” it added that the huge sum spent was to set the investment free from legal traps and make attractive for prospective private investors.
President Buhari assured Nigerians that, that next phase of securing a good private investor for it, would be accomplished in the remaining days of his tenure.
In an attempt to justify the huge outlay, the President opined that no other single project holds the key to unlocking the vast potential of Kogi State as much as the Ajaokuta Steel Complex.
In his words, “I am glad to report that as we begin to round off in office, we can genuinely say that our administration has rescued Ajaokuta from all legal disabilities and it is now ready for concessioning to a private investor with the right profiles to put it to work for Nigeria in general and Kogi State in particular.
“The process has cost this Federal Government over $400m so far, but I consider it money well spent as we move closer to achieving our objective of transforming Kogi State into Nigeria’s iron and steel powerhouse.
“The benefits of getting Ajaokuta Steel Complex working again are numerous. It would provide over 500,000 estimated jobs and more than $1.6bn (N716bn) in annual income to the Nigerian economy.
“Nigerians can rest assured that I remain committed to seeing this process to a logical conclusion before the end of my tenure in Office.”
He enumerated some of the benefits accruing to Kogi State from the Ajaokuta Steel Complex as the soon to be operational 614 km AKK gas pipeline which traverses the state.
He commissioned about six projects in Kogi State during the visit.
Kogi State, Governor, Yahaya Bello told President Buhari that the projects he inaugurated were in response to his commitment to serving the people.
According to Gov Bello, when he assumed office on January 27, 2016, his administration constituted a multi-sectoral committee that went around the nooks and crannies of the state, identifying the needs of the people.
It was gathered that the findings of that committee has been the guide of the Gov Bello administration.
Oil marketers have warned that Nigerians may soon pay as much as ₦1,500 per litre for Premium Motor Spirit (PMS), commonly known as petrol, as global oil prices surge following the escalating conflict involving Iran in the Middle East.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Gillis-Harry, issued the warning on Tuesday while speaking on a television programme on the impact of the global crisis on fuel prices.
According to him, the current volatility in the international oil market has already pushed petrol prices above ₦1,000 per litre at the depot level, with the ex-depot price from the Dangote Petroleum Refinery now standing at about ₦1,175 per litre.
He explained that once logistics, transportation, and other operational costs are added, the final pump price could rise significantly, possibly reaching ₦1,500 per litre in the near future.
Despite concerns about the rising cost of fuel, Gillis-Harry noted that steady availability of petroleum products from the Dangote Refinery remains a major relief for Nigeria, stressing that consistent supply is better than a nationwide fuel scarcity.
He added that the refinery’s production capacity is helping to stabilize supply across the country at a time when global markets remain highly unstable.
The latest price adjustment by the Dangote Refinery marks the fourth review within two weeks. Petrol prices increased from ₦995 per litre to ₦1,175 per litre, while diesel rose from ₦1,430 to about ₦1,620 per litre.
The development comes amid a sharp spike in international crude oil prices triggered by fears of supply disruptions due to the ongoing Middle East conflict.
Brent crude recently climbed above $102 per barrel, while West Texas Intermediate (WTI) rose to around $101 per barrel.
Industry analysts say the rising oil prices are already having a ripple effect on Nigeria’s downstream petroleum sector, forcing depot operators and fuel marketers to adjust their prices in response to the global market trend.
Meanwhile, the management of Dangote Petroleum Refinery has stated that although Nigeria introduced a crude-for-naira arrangement to support local refineries, the facility still purchases crude oil at international market prices, leaving it exposed to global price fluctuations.
The United Nations has raised the alarm over a dramatic surge in attacks on schools worldwide, reporting a 166% increase between 2021 and 2024.
The rise highlights the escalating dangers faced by children in conflict zones.
United Nations Deputy High Commissioner for Human Rights, Nada Al-Nashif, revealed the figures during the annual meeting of the UN Human Rights Council on the rights of the child on Monday.
The session, themed “Mainstreaming the Rights of Children in Armed Conflict: Prevention and Protection,” focused on protecting children amid global conflicts.
Al-Nashif noted that the attacks were particularly concentrated in Sudan, Ukraine, the Gaza Strip, Myanmar, and Ethiopia, where children remain among the most vulnerable victims.
“In 2024, armed conflict directly affected nearly one in six children globally—about 470 million children,” she said. “Years of lost education, trauma, and lasting mental scars shape societies for generations. Long after the fighting subsides, children continue to face deadly risks.”
She highlighted Gaza as having the world’s highest number of child amputees per capita, warning that the impact of war goes far beyond immediate violence.
In Lebanon, government figures show that more than 450,000 people were displaced in less than a week, with at least 394 fatalities, including 83 children, during the 2024 conflict with Israel.
Al-Nashif also stressed the disproportionate risks for displaced children, who are more likely to die from disease linked to unsafe water and sanitation than from direct violence.
In the Democratic Republic of Congo, a 2025 cholera outbreak killed 340 children, underscoring the long-term consequences of conflict.
She called on states to uphold their international obligations to protect children, insisting that protecting children is “both a legal obligation and a humanitarian moral imperative.”
Also speaking at the council, Vanessa Frazier, Special Representative of the UN Secretary-General for Children and Armed Conflict, warned that violence against children continued at extreme levels in 2025.
She urged mainstreaming child protection across peace, security, humanitarian, human rights, and development efforts, emphasizing that children should actively participate in shaping policies designed to safeguard them.
Frazier highlighted her office’s global campaign, “Prove It Matters,” aimed at amplifying children’s voices in conflict resolution and peacebuilding.
The UN report underscores the urgent need for coordinated international action to protect children and ensure their safety in conflict zones worldwide.
Portugal officially inaugurated its new president, Antonio Jose Seguro, on Monday, pledging to bring stability to a nation shaken by political uncertainty and natural disasters.
Seguro, the centre-left candidate, won last month’s presidential run-off against far-right rival Andre Ventura, following weeks of catastrophic storms that killed at least seven people and caused approximately €4 billion ($4.6 billion) in damage.
Speaking at his swearing-in ceremony in Lisbon’s parliament, Seguro emphasized cooperation with the minority right-wing government and vowed to end the country’s “electoral frenzy.”
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“I will do everything I can to put an end to this electoral frenzy,” he said, pointing to the inability of previous governments to complete their terms.
Amid global crises, including conflicts in the Middle East and a more isolationist US approach under President Donald Trump, Seguro stressed the importance of multilateralism.
“The force of law has been replaced by the power of the strongest,” he remarked.
Seguro succeeds Marcelo Rebelo de Sousa, a conservative who leaves office at 77 after serving two five-year terms.
While the Portuguese presidency is largely ceremonial, Seguro’s leadership signals a commitment to political stability and international engagement.
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