NEWS
Why We Must Preserve Our Democracy – Being Full Text of President Tinubu’s 2024 National Democracy Day Broadcast
My fellow Nigerians, let me begin by congratulating all of us for witnessing the celebration of another Democracy Day today, the 12th day of June 2024. This year also marks our nation’s 25 years of uninterrupted democratic governance.
On this day, 31 years ago, we entered our rites of passage to becoming a true and enduring democratic society.
Going through this passage was hard and dangerous. During the fateful six years that followed, we fought and struggled for our natural rights as human beings put on this earth by the divine hand of our Creator.
We lost great heroes and heroines along the way. In this struggle, the winner of the June 12, 1993 presidential election, Chief MKO Abiola, the most significant symbol of our democratic struggle, his wife, Kudirat, General Shehu Musa Yar’Adua and Pa Alfred Rewane, among others sacrificed their very lives.
They bravely surrendered their futures, so that our nation might have a better one.
Let us honour the memories of Chief Anthony Enahoro, Chief Abraham Adesanya, Commodore Dan Suleiman, Chief Arthur Nwankwo, Chief Chukwuemeka Ezeife, Admiral Ndubuisi Kanu, Chief Frank Kokori, Chief Bola Ige, Chief Adekunle Ajasin, Chief Ganiyu Dawodu, Chief Ayo Fasanmi, Chief Gani Fawehinmi, Chief Olabiyi Durojaiye, Dr. Beko Ransome-Kuti, Chima Ubani, and others who have transited to the higher realm.
The sacrifices of General Alani Akinrinade, Professor Bolaji Akinyemi, Professor Wole Soyinka, Chief Ralph Obioha, Chief Cornelius Adebayo, among many others, should never be forgotten. For at least six years, they bore the pains and difficulties of life in exile.
While the exiled pro-democracy activists kept the fire burning, their comrades at home sustained the pressure on the military brass hats. Among the latter are Olisa Agbakoba, Femi Falana, Abdul Oroh, Senator Shehu Sani, Governor Uba Sani, Chief Olu Falae, and other National Democratic Coalition leaders such as Chief Ayo Adebanjo and Chief Ayo Opadokun.
The sacrifices they made, and the precious gift brought about by their selfless devotion can never be repaid. Neither shall it be forgotten.
We could not have won the battle against military dictatorship without the irrepressible Nigerian journalists who mounted the barricades along with the pro-democracy activists. We celebrate them today, along with their media establishments such as The Punch, Guardian, National Concord, Tribune, The News/Tempo, and TELL Magazines. Military authorities proscribed these media establishments and jailed their journalists for standing for free speech and civil liberties
Despite the lethal might of the military government, what appeared to be high and unyielding walls of dictatorship came tumbling down. The dismal fortress exists no longer.
The power of an idea, the power of the people proved more potent than all the guns and munitions, than all the guns, the munitions and the threats of the strongmen.
The nation exited the yoke of military rule in 1999 to become the most populous democracy on African soil, the beacon of democratic self-determination for the black race and one of the largest democracies in the world.
This change stands as a pivotal moment in human history. From this change, we shall never turn, nor shall the annals of mankind’s progress forget the sublime meaning of this great moment.
Today, 25 years later, we celebrate the silver anniversary of our journey in democracy.
We have steadied the course.
Democracy is neither a foreign nor abstract concept devoid of real-life meaning for us. Neither can we afford to reduce or minimalise it to being nothing but the mere holding of periodic elections where one candidate and party outdo another.
While elections attract dramatic attention, they are but one aspect of democracy. Democracy is a way of life that encompasses a broad outlook of which elections are but a part. As such, a nation can have elections without being democratic. But a nation cannot be truly democratic without holding elections.
That we have established a tradition of holding transparent, open, and fair elections gives credence to our democratic bearing. That we have experienced peaceful transitions of government affirms our democratic temperament.
Fellow Nigerians, true democracy shines its light into the daily lives of the people who live under its nurturing wings. It affords us the freedom and liberty to think as we want, live where we want and pursue whatever legitimate endeavour that suits us.
Democracy does not assume some false or forced unity of opinion. In fact, democracy assumes that conflicting ideas and differing opinions shall be the order of the day. Given the diversity and variety of the human experience, there must be diverse perspectives and viewpoints.
What democracy demands is that we do not resolve differences through force and repression. But we make allowance for the legitimacy of views that differ from our own.
Where other forms of government impose against the will of the people, democracy aims to make leaders sufficiently humble that they conduct themselves as servants of the common good, not as viceroys of the narrow interests of the mighty.
My dear compatriots, Nigeria faced a decision of untold gravity twenty-five years ago: Whether to veer toward a better destination or continue aimlessly in the fog of dictatorship.
We made the right choice then. We must continue with that choice now.
As Nigerians, we must remind ourselves that no matter how complicated democracy may be, it is the best form of governance in the long run. We must also be aware that there are those among us who will try to exploit current challenges to undermine, if not destroy, this democracy for which so much has already been given.
These people do this not to make things better but to subject all other people and things to their control and dominance until the point that, if you are not counted among their elite, then your life will be small and no longer owned by you.
This is the great battle of our day and the major reason we specially celebrate this Democracy day.
Fellow Nigerians, our Democracy is more than a historic fact. It is a living, breathing reality.
The true meaning of this day is not to focus solely on the great deeds of the past that have brought us to this point.
Yes, we pay eternal honour to those who laid down their lives, sacrificing everything to pave the way for the nation.
I stand uniquely placed in this regard. I was among those who took the risk to midwife the birth of our democracy. I am now a direct and obvious beneficiary of the fruits of those historic efforts.
As president of this nation, I am morally and constitutionally bound to preserve this precious form of governance. I vow to do my utmost best to protect your rights, freedoms, and liberties as citizens of Nigeria.
Even more than that, I pledge to do whatever is necessary to cement democracy as our way of life.
Although the challenges are steep and multiple, I am grateful to lead Nigeria at this moment in her history and point in her democratic journey.
I come before you also to declare that our most important work remains before us. This real test has never been whether we would rise to challenge the slings of misfortune and grievous pain of dictatorship.
The real test is whether we shall lower our guards as the shadow of despotism and its evident physical danger fade.
I say to you here and now that as we celebrate the enshrinement of our political democracy, let us commit ourselves to the fulfilment of its equally important counterpart, the realisation of our economic democracy.
I understand the economic difficulties we face as a nation.
Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.
The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour.
As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.
In this spirit, we have negotiated in good faith and with open arms with organized labour on a new national minimum wage. We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less.
In the face of labour’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict.
No one was arrested or threatened. Instead, the labour leadership was invited to break bread and negotiate toward a good-faith resolution.
Reasoned discussion and principled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy.
I take on this vital task without fear or favour and I commit myself to this work until we have built a Nigeria where no man is oppressed.
In the end, our national greatness will not be achieved by travelling the easy road. It can only be achieved by taking the right one.
The words of the American President Franklin Roosevelt certainly ring true:
“There are many ways of going forward. But only one way of standing still”!
We dare not slumber lest the good things awaiting our immediate future pass us by. We dare not plant our feet in idle standstill in the middle of the intersection of hope and despair.
We know the proper way forward and we shall take it!
The initial rays of a brighter tomorrow now appear on the early horizon. An abundant future and our capacity to achieve that future lie within our reach. Democracy and the institutions it begets offer to take us to our profound destination.
Let us board this progressive train together. Together, let us move Nigeria forward.
Let’s continue to keep the fire of democracy burning. Let’s keep the torch lit for generations to come.
May God continue to bless the Federal Republic of Nigeria and preserve our democracy.
I wish us all a Happy Democracy Day.
NEWS
Profit Margin Still Below 10% as NNPC Ltd Reports N13tn Revenue in Four Months
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a total revenue of nearly N13 trillion trillion between January and April 2026, although the company continued to grapple with a relatively thin net profit margin of less than 10 percent during the same period.
This is detailed in the NNPC Ltd’s monthly report summaries for the first four months of 2026.
The report showed a high-volume operational model with a significant portion of earnings directed toward statutory obligations rather than net profitability.
The NNPC Ltd’s revenue trajectory across the four-month period showed significant volatility and growth, specifically reporting a total revenue of N12.996 trillion during the period under consideration.
Overall, the company reported revenue of N2.571 trillion in January. The figure moved to N2.680 trillion in February, rose to N2.774 trillion in March, and climbed to N4.971 trillion in April.
ALSO READ: Workers Suspend Strike at NUPRC
However, profitability remained modest in comparison to the scale of revenue. The national oil major recorded a Profit After Tax (PAT) of N385 billion in January, followed by N136 billion in February, N276 billion in March, and N481 billion in April.
In all, the total profit after tax for the four-month period reached N1.278 trillion.
Measured against the total revenue of N12.996 trillion, the net profit accounted for roughly 9.8 percent of the total earnings, underscoring the substantial impact of operational costs, inefficiencies and perhaps, statutory payments on the company’s bottom line.
Also, statutory payments remained a primary driver of financial outflows for the state-owned energy firm. The cumulative statutory payments recorded from January through April totalled N3.714 trillion, representing a significant portion of the total revenue.
Besides, a review of the four-month data indicated that operational performance in the upstream sector demonstrated substantial volume when calculated across the 120 days of the period.
Operational performance in the upstream sector demonstrated substantial volume when calculated across the 120 days spanning the period. Total crude oil and condensate production, calculated by multiplying daily averages by the number of days in each month, reached approximately 191.88 million barrels.
A breakdown showed that the NNPC Ltd reported 1.64 million barrels per day in January; 1.51 million bpd in February; 1.56 million bpd in March and 1.68 million bpd in April, the highest so far in 2026.
In the same vein, natural gas production remained consistently stable throughout the period, with a cumulative total of approximately 906.158 Billion Standard Cubic Feet (BSCF).
Gas output in January was 7.283 BSCF per day in January; 7.454 BSCF per day in February; 7.731 BSCF per day in March and 7.730 BSCF per day in April.
The operational challenges and successes driving these numbers were varied. For instance, production metrics were influenced by factors such as the completion of Turn Around Maintenance and various infrastructure integrity issues, including the Trans Forcados Pipeline outage and asset-specific leakages identified throughout the first quarter.
Despite the hurdles, the NNPC Ltd maintained improved oil and gas output, supported by the continuous strategic effort to improve asset reliability and resolve evacuation constraints.
During the period, infrastructure development remained a core pillar of the company’s strategic efforts, including steady progress on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and the successful completion of the Obiafu-Obrikom-Oben (OB3) River Niger crossing.
Since the Petroleum Industry Act (PIA) transformed the former Nigerian National Petroleum Corporation into the commercially oriented NNPC Limited in 2022, the expectation was that it would operate as a profit-driven company rather than a government agency. However, the company has continued to grapple with legacy operational challenges. One of the most visible challenges has been the state-owned refineries, where the national oil company has incurred substantial liabilities. Despite billions of dollars spent on rehabilitation, the facilities have remained shut, but continue to incur debts.
In 2025, the federal government approved the write-off of more than $1.4 billion and trillions of naira in historical obligations owed by NNPC as part of efforts to clean up its balance sheet and improve transparency.
While NNPC Ltd’s commercialisation has altered its legal structure, the company continues to navigate the difficult transition from a state-run oil corporation to a fully commercial energy enterprise, burdened by ageing assets, legacy debts, political expectations and operational inefficiencies.
NEWS
Workers Suspend Strike at NUPRC
Work has resumed fully at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) after workers suspended the one-day strike that shut the commission’s offices nationwide on Monday over welfare and administrative concerns.
The commission disclosed this in a statement on Tuesday.
Workers had downed tools following the collapse of negotiations between staff representatives and management over issues bordering on institutional governance, staff welfare, promotions and training opportunities.
Among their demands were a review of the current cost-of-collection structure, particularly the one per cent allocation to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which the workers argued had weakened the upstream regulator’s operational efficiency and financial capacity.
The aggrieved workers also accused the commission of adopting an operator-style approach to regulation that created overlaps in responsibilities within the broader petroleum regulatory framework.
ALSO READ: ASRI Urges FG to Allocate Crude to Local Refiners
They further demanded remuneration comparable to what obtains across the oil and gas industry and expressed dissatisfaction with what they described as inadequate attention to staff development, career progression and capacity building.
Although the strike led to the closure of NUPRC offices nationwide, the commission had maintained that oil and gas production activities were not affected, noting that operational staff were exempted from the industrial action.
Providing an update on Tuesday, the NUPRC said the strike had been suspended following successful discussions between its management and the workers’ unions.
In a statement signed by the NUPRC Head of Media and Corporate Communications, Eniola Akinkuotu, the commission said, “Work has fully resumed at the Nigerian Upstream Petroleum Regulatory Commission following the suspension of the one-day strike called by workers’ unions.
The industrial action was called off on the night of June 1, 2026, after successful negotiations between the top management of the NUPRC and the two in-house unions – the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers.”
According to the commission, the industrial action lasted only 12 hours and had no impact on regulatory oversight of oil and gas facilities.
“The strike, which lasted for 12 hours, affected only administrative work while regulatory activities in oil and gas facilities remained unaffected,” the statement noted.
The NUPRC also dismissed reports suggesting that crude oil production was disrupted by the strike or that the dispute was primarily about foreign training opportunities.
“The commission, therefore, calls on members of the public to disregard false reports on crude oil production disruptions as well as misleading publications stating that the disagreement centred on foreign training,” Akinkuotu stated.
The regulator further pledged to address workers’ concerns and improve staff welfare and development.
“Lastly, the NUPRC promised to improve the operating environment of its workforce and prioritise staff development in line with the Petroleum Industry Act,” the statement added.
NEWS
“Stop Spreading Fear” — Presidency Slams Nasboi Over Alleged Fake Terror Clip
The Presidency has cautioned popular comedian and content creator, Nasboi, over a viral video he posted online, accusing him of spreading fear with what it described as a misleading terror-related clip.
The Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, raised the concern in a post on his X handle on Tuesday, saying the footage being circulated does not originate from Nigeria and was wrongly presented in a way that could cause public panic.
ALSO READ: I’m Getting Death Threats For Criticising Wizkid – Nasboi Calls Out
He alleged that the video shared by Nasboi was originally taken from another online page that identified the armed men in the clip as terrorists operating in the Republic of Benin, not Nigeria.
According to him, sharing such content without proper context was irresponsible, especially given the sensitive security situation in the country.
He wrote: “You cannot continue to intentionally use your page to spread fear @iamnasboi for whatever reason you might think you have.
“The video you posted was clearly quoted from a page that says these are Beninese terrorists. This means the footage is from Benin Republic and has nothing to do with Nigeria.
“We have our challenges, but you using your wide reach to spread fear with a fake footage is the highest form of irresponsibility. You can do better!”
The presidential aide did not give further details on when the video first surfaced or whether any official verification was conducted on its origin.
Nasboi had earlier shared the clip with the caption “PRESIDENT @officialABAT,” showing armed men on motorcycles carrying out an attack in a rural setting.
The post sparked mixed reactions online, as users debated whether the footage was genuinely from Nigeria or another West African country.
Although similar videos have previously been linked to extremist groups operating in the Sahel region, there has been no independent confirmation that the viral clip originated from Nigeria.






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