Business
Nigerian Correctional Service Begins Commercial Bread Production In Benin

The Nigerian Correctional Service (NCoS) Zone G, has commenced the production of bread in Benin, the Edo capital, for both its inmates and members of the public.
Speaking at the official handover of the zonal bakery project to First Global Hakitekt Bread Bakery Limited for effective management, the Minister of Interior, Hon Olubunmi Tunji-Ojo, said the project was laudable.
Tunji-Ojo, represented by Mrs Comfort Kabirwa, Director of Special Duties in the ministry, commended the buy-in of the project by the different controllers in the zone comprising Edo, Delta, Anambra, Enugu and Ebonyi.
He stressed the importance of Public Private Partnerships (PPP), noting that a recent decongestion of correctional centres was not government funded but through corporate social responsibility.
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“We have to think out of the box to achieve our mandate. The bakery is a laudable project because it will help build the skills of the inmates and give them a source of livelihood and make them employable after leaving the correctional centre,” he said.
He added that charging the name from prisons to correctional was intentional not just for rebranding but to change the way prisoners were treated.
Earlier, Controller General of Corrections, Haliru Nababa, said the Bakery Initiative was a collaborative effort between the NCoS and the First Global Hakitekt Bread Bakery Limited under a PPP arrangement.
Nababa said the project was also supported by the Ministry of Interior, Ministry of Finance, and the Infrastructure Concession Regulatory Commission.
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“It is a pilot initiative aimed at enhancing the performances of federal government projects. The First Global Hakitekt Bread Bakery Limited is expected to bring in expertise to allow for a win-win situation for both parties. “
Represented by the NCoS Zonal Controller, Zone G, Assistant Controller General, Friday Ovie, he said that initiative was in line with the mandate of the Service, which included inmates rehabilitation via skills acquisition.
Meanwhile, Managing Director, First Global Hakitekt Bread Bakery Limited, Mr Dare Eluyemi, said the project was not just to equip inmates with bakery skills but also to create jobs in the bakery value chain.
“The bakery project has the capacity to produce bread for more than 32,000 inmates on a daily basis.
“It will help to reduce government effort in meeting the food consumption of inmates in correctional centres and sold to thepublic for income generation.”
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On her part, Controller, NCoS, Edo, Philomena Emehinola, said the Bakery initiative was a plus to the state as it would put the state in the limelight.
“We will make the project sustainable to feed our inmates as well as build their skills in bakery.”
She added that the inmates who would undergo skill acquisition in the bakery project would be paid an incentive under the earning scheme but would be given the money at the end of their jail term.
The News Agency of Nigeria reports that the pilot project will run for two years, after which it will be replicated in other zones of the NCOS.
The high point of the event was the inspection of the bakery by the representative of the Minister of Interior and other government officials present.
Business
Naira Continues Gain Against US Dollar As Nigeria’s Foreign Reserves Climb To $45.57bn

The Naira appreciated further against the United States Dollar at the official foreign exchange market, beginning the week on a good note.
Central Bank of Nigeria data showed that the Naira strengthened on Monday to N1,429.31 per dollar, up from N1,430.85 exchanged on Friday, 2 January 2026.
This means that the Naira gained N1.56 against the dollar on Monday when compared to N1,430.85 last week Friday.
READ ALSO:Naira Records Significant Appreciation Against US Dollar
At the black market, the Naira dropped by N5 to N1480 per dollar on Monday, down from N1475 traded Friday.
The development comes as the country’s external reserves rose to $45.57 billion as of Friday last week.
Business
NNPCL Reduces Fuel Price Again

The Nigerian National Petroleum Company Limited, NNPCL, has again reduced its premium motor spirit price.
In Abuja, on Monday morning, it was gathered that NNPCL retail outlets have reduced their fuel price to N815 per liter, down from N835.
This means that the NNPCL filling stations cut their price by N20.
The fresh price has been implemented at NNPCL filling stations in Wuse Zone 6 and 4 Abuja, Keffi-Abuja Road, and Kubwa Expressway.
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An NNPCL filling station attendant, who preferred anonymity, told DAILY POST that the new price was implemented on Sunday evening.
However, the N815 per liter is N79 higher than the N739 per liter sold at Dangote Refinery’s backed MRS filling stations nationwide.
DAILY POST recalls that NNPCL on December 19, 2025, cut its price of petrol by N80 to N835 amid a price war among players in the country’s oil downstream sector triggered by Dangote Refinery’s gantry price reduction to N699 per liter.
Business
NNPCL Announces Restoration Of Escravos-Lagos Pipeline

The Nigerian National Petroleum Company Limited (NNPCL) has announced the complete restoration of the Escravos-Lagos Pipeline System (ELPS) in Warri, Delta State, following the recent explosion on the asset.
The chief corporate communications officer (CCCO) of the nation’s oil company, Andy Odeh, in a statement, said that the pipeline is fully operational, reiterating the company’s resilience and commitment to energy security.
“NNPC Limited is pleased to announce the successful restoration of the Escravos-Lagos Pipeline System (ELPS) in Warri, Delta State.
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“Following the unexpected explosion on December 10, 2025, we immediately activated our emergency response, deployed coordinated containment measures, and worked tirelessly with multidisciplinary teams to ensure the damaged section was repaired, pressure-tested, and safely recommissioned.
“Today, the pipeline is fully operational, reaffirming our resilience and commitment to energy security. This achievement was made possible through the unwavering support of our host communities, the guidance of regulators, the vigilance of security agencies, and the dedication of our partners and staff.
“Together, we turned a challenging moment into a success story, restoring operations in record time while upholding the highest standards of safety and environmental stewardship.
“As we move forward, NNPC Limited remains steadfast in its pledge to protect our environment, safeguard our communities, and maintain the integrity and reliability of our assets. Thank you for your trust as we continue to power progress for Nigeria and beyond,” the statement read.
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