News
Nigeria Requires $410bn By 2060 To Address Energy Constraints, Policy Flexibility – Sylva
Published
3 years agoon
By
Editor
The Federal Government has revealed that in order to tackle Nigeria’s energy constraints and policy flexibility, it will require $410 billion by the year 2060.
It explained that the sum of $10 billion will be needed per annum to achieve the transition plan.
Minister of State for Petroleum Resources, Timipre Sylva, represented by the Permanent Secretary, Gabriel Tanimu Aduda,
stated this at the 7th Meeting of National Council on Hydrocarbons in Minna, Niger State.
Speaking on the theme, Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria, Sylva explained that the country is committed to achieving carbon neutrality, ending energy poverty by lifting 100 million people out of poverty and driving economic growth.
“Nigeria will be one of the 50 to have launched its guidelines for the management of fugitive methane and greenhouse gases emissions in the upstream oil and gas sector latest this year.
READ ALSO: PIA To Unlock Investments In Nigeria’s Oil And Gas Sector – Sylva
“Hence, the gathering of experts and policy makers in energy sector was designed to discuss and review energy related issues, identified opportunities, problems to proffers solutions in line with global best practices,” he revealed.”
The minister also disclosed that the country, through the Solid Minerals Development Fund is on the verge of unveiling its cutting edge technology in gold mining to eliminate harmful reagents, use of cyanide for human and environmentally friendly practices.
On Hydro carbons deposit in the Bida basin-, Sylva added, “thirty-four memorandums were received, seven were merged while eleven were stepped down. The memos were presented to the council for consideration that the Niger State has large quantity of solid resources and hydrocarbon deposit in commercial quantity”.
Also, Niger State Governor, Alhaji Abubakar Sani Bello, in his address said the state has commercial deposit of hydrocarbons in Bida Basin sequel to the progressive reports and findings of the consultants from IBBU Lapai and FUT Minna.
Bello who spoke through the Secretary to the State Government SSG Alh. Ahmed Ibrahim Matane appealed to the relevant agencies to expedite actions on the exploration in the Bida Basin for optimal benefits.
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News
Peter Obi’s Son, Oseloka, Speaks On Gay Allegations
Published
1 hour agoon
August 23, 2025By
Editor
Oseloka Obi, son of the 2023 Labour Party presidential candidate Peter Obi, has responded to viral allegations linking him to homosexuality after photographs of him with London-based British-Nigerian Kent Okwesa, circulated online this week.
The pictures, which emerged on Wednesday, showed Oseloka and Okwesa sitting closely at a restaurant in the United Kingdom, sparking a wave of online speculation and gossip.
In a detailed statement, Oseloka dismissed the rumours as malicious falsehoods driven by his father’s involvement in Nigerian politics.
He noted that while he rarely responds to such narratives, the persistence of gossip and unfounded claims made it necessary to address the matter.
READ ALSO:Jonathan, Obi Can’t Match APC’s Strength For 2027 – Mustapha Salihu
“Because of my father’s involvement in Nigerian politics, there has been a persistent curiosity and, at times, malicious obsession with me.
“I have no social media presence and no interest in maintaining one, so I rarely correct these falsehoods. But perhaps it is time I address them,” he wrote.
Oseloka stressed that the photos of him in circulation were being misrepresented, insisting they were ordinary snapshots with friends and colleagues.
“The truth is simple: Peter Obi’s son appears in photos with his friends and colleagues, nothing more. If people wish to invent otherwise, I hope they sleep soundly knowing they are spreading lies,” he added.
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He further emphasised that neither he nor his father is perfect, but attested to his father’s integrity and commitment to Nigeria’s future.
“My father has my vote, not because he is my father, but because he is the right man for the job. If others wish to go low, invent scandals, or attack me to wound him, they are free to do so. But we will go high, and we will continue to focus on the future of Nigeria.”
Concluding, Oseloka urged Nigerians to redirect their attention from idle gossip to the pressing socio-economic challenges facing the country.
Read the full statement below:
News
FULL LIST: PenCom Bars Seven Mortgage Banks From Processing Housing Loans
Published
1 hour agoon
August 23, 2025By
Editor
The National Pension Commission (PenCom) has barred seven Primary Mortgage Banks (PMBs) from processing applications under the pension-backed equity contribution scheme for residential mortgages, citing their non-compliance with housing loan guidelines.
In a letter published on PenCom’s website, addressed to Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs), the organisation instructed them to immediately stop accepting or processing equity contribution applications submitted through the affected institutions.
The blacklisted mortgage banks are:
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• Jigawa Savings & Loans Limited
• FHA Mortgage Bank Limited
• Delta Trust Mortgage Bank Limited
• AG Mortgage Bank Limited
• Infinity Trust Mortgage Bank Pic
• First Trust Mortgage Bank Limited
• Mutual Alliance Mortgage Bank Limited
“Following the cited letter, the commission instructs that PFAs, including Closed Pension Fund Administrators and Pension Fund Custodians, immediately stop accepting or processing equity contribution applications submitted by the following Primary Mortgage Banks… Please be guided,” the circular read in part.
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Explaining the decision, PenCom’s spokesman, Ibrahim Buwai, told The PUNCH that the sanction was imposed because the affected institutions failed to generate the mortgages for which funds had been approved.
“The whole purpose of giving access to RSA holders is to enable them to own houses through mortgages,” he said. “It was discovered that some of the primary mortgage institutions were not generating mortgages. If that is the case, it means they are not complying with the regulations. That is the reason for their blacklisting.”
PenCom introduced the equity contribution for residential mortgages in September 2022, allowing Retirement Savings Account (RSA) holders to withdraw up to 25 per cent of their balances to fund equity contributions for home ownership.
According to the commission, 24,582 RSA holders had accessed the scheme as of the first quarter of 2025, with disbursements totalling ₦149.84bn.
RSA holders who submitted applications through the barred mortgage banks are now advised to reapply with other eligible PMBs. Those who have made upfront payments were urged to contact the affected institutions for the next line of action.
News
VIDEO: How ‘Close Friend’ Leaked Cat Secret To Security During My House Invasion — Sunday Igboho
Published
2 hours agoon
August 23, 2025By
Editor
Yoruba Nation agitator, Chief Sunday Adeyemo, popularly known as Sunday Igboho, has opened up again on the July 1, 2021 midnight invasion of his Ibadan residence by security operatives, including the Department of State Services (DSS).
Speaking during a visit to the Olowo of Owo, Oba Ajibade Gbadegesin Ogunoye III, at his palace in Ondo State, Igboho alleged that the attack was carried out with the intent to take his life.
“When my house was invaded, they wanted to kill me but failed. Some said my intestines were shattered, others said my leg was broken, but there was nothing of such. They fired guns at me very well, but the prayers of you my fathers on me were answered.”
According to him, the DSS operatives forcefully gained entrance into his residence and pointed a gun at his Personal Assistant so he could lead them to his room.
READ ALSO:
Death of cat after friend’s betrayal
While recalling the invasion, Igboho said one of his trusted friends betrayed him by leaking sensitive information about his cat to the operatives.
He disclosed that the so-called ‘trusted’ friend had told the agents not to let the cat escape, which led to the security operatives killing the animal.
“When I opened the door of my room for them, they saw my cat on the bed. One of my friends that I entrusted with secret had told them not to let the cat go. So they killed the cat and wrapped it with clothes like a corpse. They destroyed everywhere in the house and killed one of my brothers alongside one other person and they left,” he narrated.
Appeal to the Olowo
Speaking at the palace of the Olowo, Igboho said his absence from the country had lasted about five years and that he was eager to return to contribute to tackling insecurity in the South-West.
READ ALSO:JUST IN: Sunday Igboho Returns To Nigeria
“But why I came to meet you Kabiesi is that till when will I be doing that. Nigeria is my motherland. This is about five years since I’ve been chased from here. Tinubu is your son, you can convince him to free me. If not for the wanted tag on me, I would have come to Nigeria to face the insecurity facing the South-West region. I would have entered the bush and faced them,” Igboho pleaded with the monarch.
Monarch’s response
In his response, Oba Ogunoye described Igboho as a beacon of hope for his generation and future ones, urging him not to be discouraged by the challenges he has faced.
The monarch enjoined Igboho and his supporters to remain law-abiding amid ongoing challenges.
He assured him of continued support and called for peace and cooperation across South-West communities, noting that no region can achieve sustainable development without security.
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