News
13 new governors borrowed N226.8bn in six months – DMO

In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers.
This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively.
The external debt was calculated based on the exchange rate of N889/$ used by the Debt Management Office in its report.
This is according to an analysis of the latest sub-national debt reports released by the DMO.
The sub-national debts are classified into domestic borrowings from local creditors and external borrowings from international creditors like the World Bank and the International Monetary Fund.
The domestic and external debts published on the DMO’s website were as of December 30 and June 30, 2023, respectively.
The states, which include Benue, Cross Rivers, Katsina, Niger, Plateau, Rivers, Zamfara, and the Federal Capital Territory, got N115.57bn from domestic creditors, while governors of Ebonyi, Kaduna, Kano, Niger, Plateau, Sokoto, Taraba and Zamfara states borrowed $125.1m (N111.24bn) from external sources.
For the sub-nationals, a further breakdown of the data showed that Cross Rivers Governor, Bassey Otu, took the highest loan, with N16.2bn from domestic and $57.95m from foreign creditors between June and December 2023.
Katsina State followed with the debt surging by N36.93bn from N62.37bn to N99.3bn by December 2023.
Third on the list is Niger State, with a domestic debt of N17.85bn, surging from N121.95bn in June 2023 to N139.8bn by December of the same year.
Plateau got N16.32bn; Rivers borrowed N7.07bn; Zamfara, N14.26bn; and the FCT under the leadership of Nyesom Wike borrowed N6.75bn from domestic creditors.
For foreign debt, Governor Francis Nwifuru of Ebonyi State accumulated external debt of $37.54m, while Governor Uba Sani of Kaduna State borrowed $17.69m from external financiers.
Similarly, the governors of Kano borrowed $6.6m; Niger, $1.27m; Plateau, $831,008; Sokoto, $499,472; Taraba, $1.51m; and Zamfara, $655,563, from external sources.
Despite declarations by the administration of President Bola Tinubu that it would not continue with the massive borrowings of the previous government to fund its expenditures, the latest developments show that the new government is sticking to the controversial policy amidst increased revenue.
In 2023, state governors got the most Federal Account Allocation Committee allocations in at least seven years. The rise in FAAC allocations to the three tiers of government, especially the states, followed the removal of subsidy on petrol and currency reforms by the Tinubu administration. The reforms have reportedly led to a 40 per cent boost in income.
An analysis of the 2023 FAAC monthly allocations revealed that the sub-national and local government councils got the highest allocation of N627.73bn in September, followed by N610.5bn in December, N555.75bn in August, N533bn in November, N514bn in July and N497.97bn in October.
News
FUPRE, African Child Foundation Set Nov. 6 for 2025 Oil & Gas Awards

The Federal University of Petroleum Resources, Effurun (FUPRE), in partnership with the African Child Foundation (ACF), has fixed Thursday, November 6, 2025, for the much-anticipated FUPRE Oil and Gas Awards.
The ceremony, which has become one of the most prestigious gatherings on Nigeria’s oil and gas calendar, will take place at the University Arena in Effurun, Delta State.
Announcing the date, the Vice-Chancellor of FUPRE, Professor Ezekiel O. Agbalagba, highlighted the institution’s role as Africa’s first petroleum-focused university and one of only six of its kind globally.
Established in 2007, he said the university has consistently driven innovation, research, and manpower development in the petroleum industry, making it a hub of excellence in energy education.
On his part, the Country Director of the African Child Foundation, Olorogun Dr. Donaldson Onosakponome, described the Awards as a platform to raise industry role models by celebrating innovation, efficiency, safety, sustainability, and operational excellence.
“This year’s Awards will not only spotlight outstanding organizations and individuals,” Dr. Onosakponome said, “but also celebrate the resilience of industry players who made possible the recent increase in Nigeria’s oil production.”
Since inception, the FUPRE Awards have recognized excellence across the oil and gas value chain, upstream, midstream, and downstream, while also rewarding corporate social responsibility and environmentally friendly practices.
The 2025 edition, organizers disclosed, will broaden its scope to honor breakthroughs in renewable energy and data-driven innovation, in line with global energy trends.
Nominations and sponsorship opportunities for the event are now open through FUPRE’s media office and the African Child Foundation.
News
Dangote Refinery Crashes Petrol Prices By N259 In Lagos, Other States

Africa’s richest man Aliko Dangote has addressed the press and confirmed that the price of his petrol has dropped market rate by N259
The refinery hopes to have more impact in the future as it finally begins its direct petrol distribution
Dangote Refinery is celebrating is one year anniversary and it has been confirmed that the capacity will be increased.
Speaking to journalists on Monday, September 15 to mark the refinery’s first anniversary he also said that Nigeria’s decades-long fuel supply crisis has been stopped.
Dangote who was also reacting to intense criticism from National Union of Petroleum and Natural Gas Workers (NUPENG) and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) revealed the impacts of his refinery
According to him, the pump price, which stood at about N1,100 per litre last year, has dropped to N841 in the South West, Abuja, Delta, Rivers, Edo and Kwara states.
He said: “Despite opposition and economic headwinds, the refinery has successfully reduced the price of petrol from nearly N1,100 before production began to N841. With the rollout of CNG-powered trucks, this price reduction will soon be felt nationwide.”
African richest man also said that its 650,000 barrels-per-day refinery, Africa’s largest has deployed 1,000 Compressed Natural Gas (CNG)-powered trucks as part of its direct fuel distribution programme.
The initiative, according to Dangote, will create 24,000 jobs in the first phase, the Nation reports.
He added that the refining capacity would rise to 700,000 bpd next year, adding that the plant has the ability to meet Nigeria’s domestic demand while generating foreign exchange through exports. Between June and early September, the refinery exported more than 1.1 billion litres of petrol, he said
Dangote, who backed the federal government’s target of growing Nigeria into a $1 trillion economy by 2031, urged more Nigerians to invest locally.
He acknowledged resistance from some vested interests in the downstream sector, but maintained the project was designed to support growth across Nigeria and Africa.
He said. “We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era. “What we have done is to make our country and continent proud.”
News
PTI Seeks Partnership with Delta Govt on Oil & Gas Trainings for Youths

…As Oborevwori Donates Buses To Institute
The Petroleum Training Institute (PTI), Effurun, Delta State, has expressed readiness to collaborate with the State Government on international oil and gas training programmes designed to equip youths with employable skills and drive economic growth in the state.
Speaking during a courtesy call on Governor Sheriff Oborevwori at Government House, Asaba, on Tuesday, the Principal and Chief Executive Officer of PTI, Dr. Samuel Onoji, said the Institute was committed to offering discounted and subsidised international trainings in oil and gas to enhance the employability of Delta youths.
Onoji commended Governor Oborevwori’s infrastructural drive, describing developments under his administration as unprecedented in the history of the state.
He also appreciated the Governor for reconnecting electricity to the Institute and invited the Governor to the Institute’s International Hydrocarbons and Scientific Conference scheduled for October at the PTDF Hall, Abuja.
In his remarks, Governor Oborevwori commended PTI and the Minister of Petroleum, Senator Heineken Lokpobri, for releasing 25 hectares of land to the state government, stressing that the gesture reflected their commitment to Delta’s growth and development.
“PTI is very dear to us in Delta because it opened the door for other federal government establishments to come into our state.
“We don’t take anything concerning PTI lightly. Your visit today is a demonstration of your commitment, and I assure you that this government will continue to support the Institute in all its endeavours,” the Governor said.
As part of his support, Governor Oborevwori approved the donation of a Coaster Bus and an 18-seater Hiace Bus to meet the mobility needs of staff and students of PTI.
Established in 1972, PTI is regarded as the foremost petroleum training institute in Africa, mandated to train and retrain skilled manpower for the oil and gas industry.
News
‘No More N865/Ltr’ – Dangote Releases List of Filling Stations Selling Petrol At Cheaper Rate (New Petrol Prices by States)

The Dangote Petroleum Refinery has announced a fresh reduction in petrol pump prices, offering Nigerians a much-needed relief at a time of rising living costs.
Starting from Monday, September 15, petrol will now be sold below N865 per litre at select partner filling stations across the country.
This announcement comes alongside the refinery’s new distribution model, which involves the use of Compressed Natural Gas (CNG) trucks to deliver fuel directly to stations. The approach is expected to cut down logistics costs and improve fuel availability nationwide.
New Petrol Prices by States
According to Dangote Refinery, the price adjustments will immediately take effect in several states, with plans to expand nationwide.
Lagos, Ogun, Oyo, Ondo, Osun, and Ekiti: N841 per litre (previously between N865 and N880)
Abuja, Delta, Rivers, Edo, and Kwara: N851 per litre (previously between N890 and N910)
Dangote emphasized that this is just the beginning, promising that more states will benefit from similar reductions in the coming weeks.
Partner Filling Stations Selling at New Prices
The refinery has partnered with both long-standing and newly added marketers to make cheaper petrol available to Nigerians.
Existing Partners
MRS
Heyden
Ardova (AP)
Hyde Energy
Optima
Techno Oil
TotalEnergies
New Partners
Garima Petroleum
Sunbeth Energies
Sobaz Nigeria Ltd.
Virgin Forest Energy
Sixxco Oil Ltd.
N.U. Synergy Ltd.
Soroman Nigeria Ltd.
Jezco Oil Nigeria Ltd.
Jengre
Cocean
Kifayat
Triumph
Golden Sifem Global
Riquest
Mamu Oil
Why the price drop matters
The price cut, which averages N24 lower per litre, is directly linked to Dangote’s new direct distribution strategy. By rolling out thousands of CNG-powered trucks and establishing CNG “daughter booster” stations across the country, the refinery aims to reduce dependence on middlemen, thereby slashing transportation costs that usually drive fuel prices higher.
At the moment, Dangote has taken delivery of 1,000 out of the 4,000 trucks it ordered. This investment in logistics is expected to ensure steady nationwide distribution in the months ahead.
Benefits for petrol dealers and marketers
Beyond reducing retail prices, Dangote Refinery has also extended an invitation to filling station owners across Nigeria to join its distribution network. The company is offering:
Free delivery logistics through its CNG-powered truck fleet
Access to credit facilities: Dealers who purchase 500,000 litres can obtain an additional 500,000 litres on credit for two weeks, under bank guarantee
This system is designed to support petrol dealers, manufacturers, transport operators, and other large-scale users while ensuring Nigerians pay less at the pump.
NNPC price comparison
Interestingly, the Nigerian National Petroleum Company (NNPC) Limited has also recently adjusted its pump price to N865 per litre, which remains slightly higher than Dangote’s new rates in most states.
The competition between the state-owned NNPC and the privately owned Dangote refinery may continue to shape petrol pricing in Nigeria in the coming months.
Education
Meet Top 10 Most Expensive Schools Where Pupil Pays ₦7.5 Million Per Term

Top private secondary schools now charge fees as high as private universities.
But behind each modern campus, fancy facilities, and international programs is a story of hard work, vision, and money.
From pioneering educators to embassy-backed schools, find out who is turning expensive schooling into big business in Nigeria’s largest city.
- Greensprings School
Visionary Founder: Mrs. Lai Koiki
Starting as a small nursery in 1985, Koiki transformed Greensprings into a tri-campus British-style institution serving over 2,000 students. Today, day pupils pay about ₦3.8 million per term, while boarding spots go for around ₦7.1 million testimony to her decades-long commitment to high-quality, holistic education.
- Grange School
Nonprofit Legacy: Grange Education Limited
Launched in 1958 by British expatriates to educate children of West African Airways staff, Grange is run by a parent-and-stakeholder board. With term fees near ₦4.5 million for day students and ₦6.5 million for boarders, its nonprofit status means every naira is reinvested into campus expansion and teacher development.
- Lekki British International School
Family-Led Enterprise: The Idehen Siblings
Founded by the late Dr. Abiodun Laja in 2000, LBIS now thrives under the stewardship of her children, Francis and Christian Idehen. They uphold a rigorous UK National Curriculum for roughly 350 pupils, charging about ₦4.6 million per year for day schooling and ₦6.8 million to board.
- British International School, Lagos
Global Backing: British Schools Foundation
Part of an international network, BIS Lagos blends Cambridge and British curricula on its Lekki Peninsula campus. With termly fees climbing above ₦5 million for day scholars and ₦7.5 million for boarders, it attracts a truly cosmopolitan student body and overseas-trained faculty.
- Meadow Hall School
Educational Innovators: The Hansotia Family
Since its 2002 inception, Meadow Hall has championed inquiry-based learning across two campuses. Their upscale campus in Lekki features science labs, art studios, and green play spaces. Day students pay around ₦4 million per term; boarders hover near ₦7 million.
- Atlantic Hall
Alumni-Driven Council: Former Students & Parents
Atlantic Hall established in 1989 operates under a vibrant alumni and parent board committed to continuous improvement. Known for its A-Level program and expansive sports facilities, it charges close to ₦3.9 million per term for day pupils and ₦6.3 million for boarders.
- Corona Day Secondary School, Lekki
Heritage Brand: Corona Schools
With roots stretching back to the 1950s, Corona remains a household name. The Lekki branch offers the Nigerian curriculum alongside international enrichment programs. Fees are roughly ₦3.7 million per term for day students; boarding isn’t offered here, keeping costs slightly lower.
- Lycée Français Louis Pasteur
Diplomatic Mission: French Embassy
Operated by France’s Ministry of Foreign Affairs, this school delivers the French national curriculum from primary through lycée. Its bilingual immersion and international accreditation command term fees of about ₦5 million reflecting its elite pedigree and embassy support.
- Charterhouse Lagos
Tech-Minded Founders: The Petkauskas Family
Charterhouse, birthed in 2000, has built a reputation for coding and robotics labs alongside classical academics. Day scholars invest roughly ₦4.2 million per term; boarding which includes weekend hackathons runs nearly ₦6.7 million.
- American International School of Lagos
Consortium Ownership: American and Local Partners
AISL, part of a global network, follows an American curriculum with Advanced Placement options. Situated in Victoria Island, it caters to expatriate and Nigerian families, charging around ₦5.2 million per term for day schooling and ₦7.8 million for its residential program.
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News
Wike’s Spokesperson Olayinka Shares Update Amid Reports FCT Minister Travelled to UK For Medical Attention

A report by Sahara Reporters widely shared on internet claimed that FCT minister Nyesom Wike was diagnosed with congestive heart failure
The online news platform said sources privy to the minister’s health status informed it that Wike has been diagnosed with congestive heart failure and is currently under medical management in the UK.
However, checks by Legit.ng showed that no other reputable platforms have the report
Wike’s absence from public appearances sparked bizarre rumours online, with several netizens commenting that he might be out of Nigeria for medical reasons.
Amid the anxiety over Wike’s whereabouts, Olayinka posted on his verified X (formerly Twitter) page:
Lere Olayinka, senior special assistant on public communication and social media to Nyesom Wike, on Sunday, September 14, disclosed that his principal will be on a popular political show on Thursday, September 18, 2025.
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