
News
FG still paying about N1 trillion Fuel Subsidy monthly – Pinnacle Oil boss, Dickerman
Despite deregulation, Pinnacle Oil and Gas Limited, an indigenous oil and gas company active across the entire downstream value chain, has disclosed that Nigeria is currently paying about N1 trillion monthly as petrol subsidy.
The Managing Director/CEO of the company, Mr. Robert Dickerman, disclosed this while speaking during a panel session six, on Nigeria’s Downstream Forum at the just-concluded Nigeria International Energy Summit (NIES) in Abuja.
He said there is still a massive subsidy, which explains why the product remains cheap, thus encouraging smuggling to neighbouring countries.
He said: “Nigeria has a long history of allocating resources to oil and gas production at the expense of most other economic and social programs. To balance this, there has been a long-standing policy to mitigate consumer costs via palliatives such as fuel and food subsidies.
“But one of the net effects of oil money is underinvestment in local production, manufacturing and other value-added activities that could generate foreign currency through exports. There has also been a large under investment in the maintenance and upgrade of existing infrastructure including electricity, roads, health care, water, waste, education and financial infrastructure such as consumer credit.
“As a result, we have a huge negative trade deficit, except for crude oil and LNG, and our banks are not sufficiently capitalized to support significant new capital programs.

“With legacy monetary policymaking currency exchange difficult, we desperately need Foreign Investment. This is a reality. So the best policy during this time of crisis is a national policy to transform our economy/regulations/laws to accommodate and encourage FDI.
“Foreign investors, foreign lenders and government-run DFIs have been very clear about what they want to see: Conservative fiscal policy, tackling corruption, enabling competitive markets, and enforcement of fairness in markets through policy, regulation and the ability to enforce contracts. Keeping that context in mind, I want to point out that there is still a massive subsidy in PMS, albeit in the FX portion of PMS Price, not the global price in dollars.

News
Nigerian international found dead in Abuja shortly after return from Europe
Former Southampton and Royal Antwerp forward Victor Udoh has died at the age of 21 in Nigeria, with reports describing the circumstances of his death as “under suspicious circumstances.”
According to the Mirror UK, Udoh was found dead in Abuja, the Nigerian capital, although the exact cause of death remains unknown at the time of reporting.
The Mirror UK reports that the young striker had recently returned to Nigeria following the end of his stint with Czech club Dynamo České Budějovice, which he joined after leaving Southampton in 2025.
Udoh, who previously signed for Southampton on a three-and-a-half-year deal, spent seven months at the club but did not make a senior appearance before departing by mutual consent in search of regular playing time.
Before his move to England, he had been with Belgian side Royal Antwerp, where he rose through the ranks after joining from Abuja-based Hypebuzz. He impressed at reserve level, scoring 12 goals in 21 matches, and later made 28 first-team appearances for the club.
Reports show that he was regarded as a promising talent during his early career in Europe, with his development attracting attention before his move to Southampton.

Further details surrounding his death have not yet been confirmed by authorities. (Vanguard)

News
Akani Landlords in Enugu raise alarm over alleged encroachment, urge buyers to exercise caution
The Akani Ancestral Layout Landlords Association has issued a public warning to prospective land buyers and investors over alleged encroachment issues involving parts of the Akani Land Layout Planning Scheme located in Emene-Nike, Enugu.
In a public notice released on Monday, the association said its attention had been drawn to videos circulating online concerning individuals allegedly involved in controversial land transactions within sections of the Akani Ancestral Layout.
According to the association, one of the videos featured a female investor who allegedly paid for plots of land in New Enugu Estate and Dolphine Estate but was yet to receive allocation of the purchased plots.
While sympathising with the investor over the development, the association stated that its members had reviewed the location and size of the land reportedly belonging to Dolphine Estate and now suspect that parts of the estate may have encroached on the area officially known as the Akani Land Layout Planning Scheme.
The association explained that the layout was approved through a Public Notice issued under the Urban and Regional Planning Law, 2012, and signed on August 16, 2012, by the then Commissioner for Lands and Urban Development in Enugu State, Dr. Chukwuemeka Ujam.
Raising what it described as a “red flag” to the public, the association urged intending land buyers to conduct proper due diligence before purchasing land in the area, stressing the importance of ensuring that any property being acquired does not violate the boundaries of the Akani Layout Planning Scheme.

The group also disclosed that many members of the Akani Layout Landlords Association had already completed verification processes and payments for their title documents with relevant authorities in the Enugu State Government.
The association noted that the notice was aimed at preventing future disputes and helping prospective investors avoid costly mistakes.
“Forewarned is forearmed,” the statement concluded.

News
Tinubu congratulates Rangers International after ninth NPFL title win
…Lauds Gov Mbah’s investment in youth, sports
President Bola Ahmed Tinubu has congratulated Rangers International FC on winning the 2025/2026 Nigeria Premier Football League (NPFL) title, describing the club’s triumph as a remarkable achievement and a testament to its enduring football legacy.
Rangers secured the league crown for a record ninth time after finishing the season with 68 points from 38 matches, ahead of closest rivals Rivers United.
In a statement issued on Monday by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu congratulated the management, players and supporters of the Enugu-based side for their successful campaign.
The President recalled the club’s dominance in Nigerian football during the 1970s and 1980s, highlighting its historic exploits on the continental stage.
He specifically referenced Rangers’ run to the final of the African Cup of Champions Clubs in 1975 and their triumph in the African Cup Winners’ Cup in 1977.
President Tinubu also praised the Governor of Enugu State, Peter Mbah, for supporting youth and sports development in the state, saying the club’s success reflected the impact of such investments.

“I must also congratulate Governor Peter Mbah of Enugu State on the victory of Rangers International FC. This victory is an obvious fruit of his administration’s investments in youth and sports in the state. I commend him,” the President said.
He further noted that Rangers, as one of Nigeria’s oldest football clubs, has produced several players who brought honour to the country on the global stage.
The President equally commended Rivers United for their impressive performance throughout the season and for displaying sportsmanship during the competition.
Tinubu wished both Rangers International FC and Rivers United success as they prepare to represent Nigeria in next season’s CAF Champions League.

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