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Basic Metal and Steel Manufacturers Commend President Tinubu for Economic Growth Efforts

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Dr Kamoru Yusuf

 

The Basic Metal, Iron and Steel Products Manufacturer, a sectoral arm of the Manufacturer Association of Nigeria, (MAN) has commended President Ahmed Bola Tinubu for his overwhelming performances and efforts towards the nation’s economic growth at the just concluded Nigeria-India economic roundtable meeting in India.

The group also commended the president for attracting the sum of $14 billion investment to boost the nation’s economy adding that the feats recorded by the Bola Tinubu-led government within 100 days of its inauguration will no doubt accelerate economic recovery and business growth in the steel sector.

This is contained in a statement issued on Sunday by the Chairman of the group, Dr. Kamoru Yusuf MON, stressing that, “Iron and Steel sector, if given the required attention and necessary support, is capable of ensuring accelerated growth of the nation’s economy.

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Dr. Yusuf, who is also the Group Managing Director of KAM Holding Limited, a wholly owned indigenous Iron and Steel Industry in Nigeria added that, “President Tinubu has by all standards demonstrated his love and readiness to support industrialists. We, in the Iron and Steel sector of the Manufacturers Association of Nigeria, (MAN) are ready to support his administration with data, workable templates and roadmaps that will support Mr. President in his endeavour to succeed in his mandates to Nigerian citizens.

“As major stakeholders in Nigeria’s Project, we received this news with huge excitement and sense of fulfillment and hope that the breakthrough will further change the game of operations as ‘Risk Takers’ in the nation’s business environment. We pledge our unalloyed support to your administration towards ensuring and providing enabling atmospheres for industrialists to continue to thrive.”

The statement also emphasised that, “President Tinubu’s exceptional efforts in attracting such a substantial investment for Nigeria’s steel sector deserves standing ovation and applause.”

The group therefore promised to the Minister for Steel Development, Alhaji Shuaibu Audu, in the discharge of his duties at all times.

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President Tinubu Returns to Nigeria After State Visit to Türkiye

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By Yusuf Danjuma Yunusa

President Bola Ahmed Tinubu returned to Abuja on Saturday evening, concluding a state visit to the Republic of Türkiye aimed at deepening bilateral relations.

The President’s aircraft arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport at 8:55 p.m., as confirmed in a brief statement issued to State House correspondents.

During the visit, which began on Tuesday, President Tinubu held extensive discussions with Turkish President Recep Tayyip Erdoğan. The talks focused on enhancing cooperation in areas of shared interest, including defense, energy, and security.

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The presidential delegation included Foreign Affairs Minister Yusuf Maitama Tuggar, Attorney General and Minister of Justice Lateef Fagbemi, Minister of Defence Gen. Christopher Musa (retired), and National Security Adviser, Nuhu Ribadu.

The diplomatic engagement culminated in the signing of nine bilateral agreements, covering strategic sectors such as defense, energy, security, and research. These pacts are expected to bolster collaboration between the two nations.

The visit underscores the administration’s commitment to strengthening Nigeria’s international partnerships and advancing national interests through strategic diplomacy.

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ADC Accuses National Assembly of Delaying Electoral Bill to Sabotage 2027 Polls

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has accused the National Assembly of employing delay tactics in passing the 2025 Electoral Bill.

In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC highlighted various amendments to the Electoral Act 2022 that carry serious eligibility and compliance risks for political parties if not enacted on time.

The party also noted that new provisions involving mandatory electronic voter accreditation and the transmission of results are minimum requirements on which the credibility of the 2027 elections depends and must not be undermined by unnecessary filibustering.

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“The African Democratic Congress (ADC) is deeply concerned by the continued prevarications of the National Assembly over the 2025 Electoral Bill. Failure to promptly pass the bill for presidential assent raises suspicions that the legislature, which is dominated by the APC, is deliberately delaying key amendments, especially those intended to make future elections more difficult to rig.”

“The ADC also notes that some of the proposed amendments introduce new compliance and eligibility requirements that must be fully understood and met by political parties. Failure to allow sufficient time to study and implement these provisions, beyond what is publicly available, could have serious consequences for both political parties and the Independent National Electoral Commission (INEC). Lack of clarity in the electoral guidelines would not only create potential booby traps for opposition parties, but also make it difficult for INEC to prepare and issue clear rules within the required timeframe.

“For example, the provision requiring INEC to publish election notices at least 360 days before the general election remains in effect. This means that even now, there is very little time left for adequate preparation and compliance.

“The ADC therefore calls on the National Assembly to pass the bill without further delay. Any postponement risks the integrity of the 2027 general elections and undermines confidence in the entire electoral process. Nigeria cannot afford another acrimonious or dubious election.

“The ADC also urges civil society organisations, international partners, and all political parties committed to accountable democratic governance to pressure the National Assembly to act swiftly, as Nigerians cannot afford another election cycle without these essential safeguards.”

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Dangote’s Single Train Refinery, Epileptic Pricing Will Throw Nigeria Into Major Economic Crisis – Spectrum of Marketers

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A spectrum of marketers across the downstream oil industry, along with industry watchers, analysts and unions have expressed concerns about the incessant price instability and uncertainty in the supply, distribution, and retailing of petroleum products across the country. This worrisome trend is creating panic in the industry.

This situation is evolving as a result of underlying structural factors bedevilling the industry over the last year.

The industry watchers raised alarm over what they described as the looming danger posed by Dangote Refinery’s single-train structure and unstable pricing regime, warning that Nigeria could be plunged into a major economic crisis if urgent corrective measures are not taken.

Speaking exclusively to the press, an array of marketers noted that Dangote Refinery’s current operational model and pricing practices are inconsistent with the amended Petroleum Industry Act (PIA) and risks destabilizing the nation’s petroleum supply chain.

Concerns Over Pricing Fluctuations
On their part Independent marketers highlighted recent confusion in the petroleum industry, noting that the refinery’s ex-depot price jumped from ₦699 to ₦799, while pump prices have epileptically jumped from ₦731 to ₦920. They described this as “epileptic pricing” that creates uncertainty for marketers and consumers alike.

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Allegations of Anti-Competitive Practices
ThoseSome analysts and watchers have accused the Dangote Refinery of engaging in restrictive business practices, including monopolistic tendencies that can pose as barriers to entry for other players. They warned that such anti-competitive behaviour discourages investment, creates price wars, and ultimately undermines the sustainability of the petroleum sector.

“Petroleum is a macro product; its behavior affects all other products, including food. If competition laws and PIA provisions are not strictly enforced, businesses will collapse and the economy will suffer,” they cautioned.

They noted that Dangote’s refinery, with its 650,000 barrels per day capacity, operates as a single-train facility, meaning the entire output depends on one processing line. They explained that this design leaves the refinery vulnerable to disruptions, as any technical fault could halt production entirely.

“The catalytic unit is already down. This shows the danger of relying on a single train. Nigeria requires about 70 million litres per day according to updates by NMPDRA, but Dangote is currently supplying less than 35 million litres. This shortfall exposes the country to energy crises,” they said.

The Unions urged the federal government and the National Assembly to enforce strict compliance with PIA laws, stressing that the legislation was designed to ensure a “win-win” situation for all stakeholders in the petroleum industry.

They also noted that unless the refinery adopts a multi-train structure and pricing transparency, Nigeria’s petroleum supply-demand balance could collapse, triggering wider economic instability.

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