General
OGD, Dickson, Iweala, Fayose, Others Make Atiku’s VP List
By Peter Albert
Following the landslide victory of Mr Abubakar Atiku as the flag bearer of the People’s Democratic Party (PDP) on Sunday, information available to us reveal that the jostling for who will be his running mate has reached fever-pitch.
According to sources close to Mr Atiku, he has referred the question of who will be his running mate to the party elders to decide.
This, many believe, would serve to heal any wounds that may have arisen from his landslide victory over Governor Aminu Tambuwal of Sokoto State, who had been enjoying the unhinged support of Governor Nyesom Wike of Rivers State and the state delegates loyal to him.
There are many eminent PDP members across the country who are qualified for the role but discussions with top PDP apparatchiks at the venue of the just-concluded PDP National Convention revealed that the front runners for the position of Vice Presidential candidate are Otunba Gbenga Daniel (OGD), Governor Nyesom Wike, former Governor Peter Obi, Dr Ngozi Okonjo Iweala, Govornors Seriake Dickson of Bayelsa State and Ayodele Fayose of Ekiti State.
OGD is a former two-term Governor of Ogun State and the Director General of the Atiku Campaign Organization who was able to garner the delegates from the south west states, except Ekiti State delegates, to deliver block votes for Mr Atiku at the primaries.
He is believed to be more suited for the job as he would be able to reduce the votes to and the dominance of the All Progressives Congress (APC) in the south west states. He would also balance the influence of the current Vice President to President Buhari who is also from Ogun State.
Governor Seriake Dickson of Bayelsa State was the only Governor that openly supported Mr Atiku and mobilized support from fellow PDP Governors, in direct opposition to people like Mr Wike who publicly supported Mr Tambuwal.
Governor Dickson’s unalloyed support for Mr Atiku also contributed to his recent victory as the presidential candidate of the PDP.
Mr Dickson has been a stabilizing factor in the Niger Delta and is widely accepted as a grassroots politician with strong ties with the Yorubas being that his grandmother is from Ogun State.
His giant strides in various sectors in Bayelsa State continue to stand him in good stead as a purveyor of peace and development to the people in general.
Dr Ngozi Okonjo-Iweala is the renowned Finance Minister and Coordinating Minister of the Economy in President Goodluck Jonathan’s Government. She comes with immense experience and capacity together with a largely unblemished public service record.
Though not a politician, her candidacy should put presidential hopefuls from the south east states at ease as she would not be competing with them to take over from Mr Atiku at the end of his single term plan. She would also help to rein in sympathetic votes from Nigerian women across party lines and ethnic or tribal affiliations.
Governor Wike is arguably the latter day leader of the PDP who has fought to steady the course of the party in the last turbulent years after the loss of the presidency to the APC. Though he did not support Mr Atiku in the primaries, pundits say that his control of the party systems through his appointed Chairman, Mr Uche Secondus, is very strong.
Mr Fayose is the current Governor of Ekiti State who stepped down from the presidential primaries race ostensibly to support Mr Tambuwal. Despite the fact that his candidate lost the governorship elections to the APC candidate, pundits say he still commands a lot of support in the south west states.
Mr Fayose, though considered a rabble-rouser by a cross section of the society for his many verbal engagements, should therefore help the PDP garner votes in the south west states as Vice Presidential candidate to Mr Atiku.
Last but not the least is Dr Peter Obi. He is the immediate past and very successful governor of Anambra State. Mr Obi brings economic sagacity and an unblemished public service record to the table but may raise fears from other possible successors to Mr Atiku at the end of the single term as being vice president would put him in pole position to take over.
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.
Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.
According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.
The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.
Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.
The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.
The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.
It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.
According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.
The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.
IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has reiterated that the July 31, 2026, deadline for insurance companies to meet the new minimum capital requirements remains firm, warning operators against treating it as a mere formality.
The Commissioner for Insurance of NAICOM, Mr Olusegun Ayo Omosehin, who gave this warning, urged companies that have yet to meet the new minimum capital requirements to act with urgency.
Speaking on Friday at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Mr Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry.
According to him, the new minimum capital requirement is designed to improve insurers’ claims-paying capacity, strengthen their balance sheets, support higher domestic risk retention and prepare the industry for a risk-based capital regime.
“With about 14 days to the July 31 deadline, we commend operators that have made significant progress in raising capital, engaging investors, strengthening governance and submitting for the Commission’s verification process.
“However, the deadline is not symbolic; it is regulatory, and the industry must treat it with the urgency it deserves,” he said.
The Commissioner assured stakeholders that the insurance sector regulator would maintain a transparent, fair and firm process, stressing that every operator must demonstrate financial soundness, regulatory compliance and operational readiness.
He added that stronger capitalisation must ultimately translate into better service delivery, prompt settlement of claims, improved consumer protection and greater public confidence in insurance.
Mr Omosehin noted that the Nigerian Insurance Industry Reform Act (NIIRA) 2025 has provided a stronger legal framework for a more resilient, better-governed and responsive insurance market, adding that NAICOM’s reform agenda is focused on market conduct, policyholder protection, governance, insurance penetration, financial inclusion and responsible innovation.
He described professionalism as the foundation of a trusted insurance market, saying the industry’s growth depends not only on adequate capital and effective regulation but also on ethics, competence, innovation and public confidence.
“The strength of insurance depends not only on capital and regulation but also on professionalism, ethics, innovation and public confidence. A trusted insurance market cannot be built on capital alone. It requires competent professionals, ethical institutions, credible advice and fair treatment of policyholders,” he stated.
By Bon Peters
About 29,645 litres of premium motor spirit (PMS), otherwise known as petrol, as well as industrial palm oil, edible palm oil and vegetable oil with a Duty Paid Value (DPV) of N26 million have been auctioned by the Eastern Marine Command of the Nigeria Customs Service (NCS).
The products were seized by the agency from some smugglers and auctioned on Thursday, July 16, 2026, at the Oron Outstation of the Command in Akwa Ibom State, in strict compliance with Section 119 of the Nigeria Customs Service (NCS) Act 2023.
It was gathered that the command auctioned 14,720 litres of petrol and 14,925 litres of industrial palm oil, edible palm oil and vegetable oil, according to a statement issued over the weekend in Port Harcourt, Rivers State, by the command’s spokesman, Mr Joshua Iliya, a Deputy Superintendent of Customs.
It was disclosed that the exercise aligned with the service’s statutory mandate to transparently dispose of seized, forfeited, and abandoned goods after all due legal processes have been completed.
The petrol had a DPV of N11.4 million, 14,200 litres of industrial palm oil with a DPV of N14.1 million, 600 litres of edible palm oil with a DPV of N840,000, and 125 litres of vegetable oil with a DPV of N141,000.
Declaring the auction open, the Acting Comptroller of the Eastern Marine Command, Mr Esien Etim Esiet, stated that the items were intercepted during successful anti-smuggling operations within the command’s jurisdiction, adding that the seizures followed direct violations of the NCS Act and other extant laws governing restricted goods.
“This exercise reflects our unwavering commitment to transparency, accountability, and the prudent management of government assets,” he stated, reiterating that, “Beyond the lawful disposal of goods, this auction serves as a stark reminder that smuggling is an economic crime.”
“It undermines national development, threatens local industries, and deprives the government of critical revenue,” he averred, commending the resilience and professionalism of the command’s officers for securing Nigeria’s maritime borders despite operating in challenging terrains.
The customs officer assured bidders that the process was structured to be fair, open, and legally compliant while offering equal opportunity to all eligible participants.
