Major International Business Headlines Brief ::: 13 November 2025

Thu Nov 13 12:28:20 CAT 2025

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Major International Business Headlines Brief :::  13 November  2025 

 <mailto:info at bulls.co.zw> 

ü  South Africa: Treasury Cuts 9,000 Ghost Workers from Payroll 

ü  Africa: From Culprit to Solution Provider - Financing Africa's
Sustainable Universal Healthcare Through Environmental Accountability

ü  Liberia: Bishop Kortu Brown Warns Against Wasteful Spending in U.S.$1.2b
Budget, Calls for Focus On Ordinary Liberians

ü  Malawi: 2025-26 Farm Inputs Subsidy Programme - a Defining Test for the
DPP Government

ü  Malawi: IMF Holds the Key - World Bank Tells Malawi to Fix the Leaks
Before Help Can Flow

ü  Kenya: Ruto Targets One Million Youth Jobs in Housing Programme By 2026

ü  Nigeria: Firm Seeks Tinubu's Help Over Airport Authority's Failure to Pay
for Work Done

ü  Nigeria: NUPRC Pushes Alternative Dispute Resolution to End Prolonged Oil
Sector Litigation

ü  Nigeria: To Preserve Monetary Policy Gains, Analyst Urges Politicians to
Stop Dollar Spending At Elections

ü  Nigeria's Stock Market Tumbles, Loses N4.6trn in One Day

ü  Nigeria's Stock Market Tumbles, Loses N4.6trn in One Day

ü  South Africa: SA Shifts Inflation Target in Bold Move Towards Economic
Stability and Growth

 <mailto:info at bulls.co.zw> 

South Africa: Treasury Cuts 9,000 Ghost Workers from Payroll 

The National Treasury has begun eliminating nearly 9,000 ghost workers from
the government's payroll as part of its broader drive to boost efficiency
and reduce waste through a savings initiative, reports EWN. In the
Medium-Term Budget Policy Statement, Minister Enoch Godongwana revealed that
8,854 cases were flagged where individuals were receiving payments from
multiple departments. The programme uncovered instances of inactive
employees still drawing salaries and bank account irregularities, and aims
to identify people appearing across multiple government systems. Godongwana
added that the initiative also targets social grant fraud and "double
dipping." However, Director-General Dr. Duncan Pieterse cautioned that the
figures still require verification, noting that the Treasury is working with
SARS using confidential tax data to confirm losses linked to ghost
employees.

Limpopo Musician to Face Attempted Murder Charge in Polokwane Court

A 30-year-old lekompo musician from Limpopo is set to appear in the
Polokwane Magistrate's Court on charges of attempted murder, reports SABC
News. The popular artist was arrested in Polokwane while accompanied by his
lawyer. According to police spokesperson Malesela Ledwaba, the arrest
follows an incident that occurred in October. He said a dedicated team has
been assigned to the case, emphasizing that "no one is above the law,
regardless of their social standing." Police have also seized the suspect's
vehicles for forensic analysis as part of the ongoing investigation.

City Power Cuts Electricity to NSFAS Buildings Over Massive Unpaid Bills

Two National Student Financial Aid Scheme (NSFAS) -funded student
accommodation buildings in Johannesburg's inner city have been disconnected
for owing a combined R12.4 million in unpaid electricity bills, reports EWN.
The disconnections form part of the city's ongoing Mayoral CEO Clean-Up
Campaign in Region F, which targets defaulting customers and illegal
connections to recover billions owed to the municipality. According to City
Power, both buildings on Lilian Ngoyi Street belong to the same account
holder, who has been receiving NSFAS payments but failing to pay municipal
bills. Spokesperson Isaac Mangena said this is not the first disconnection
involving the same properties, noting that a previous debt repayment
agreement with the owner fell through after further defaults.

More South African news

Africa: From Culprit to Solution Provider - Financing Africa's Sustainable
Universal Healthcare Through Environmental Accountability

Africa’s most significant health crisis isn’t the next virus. It’s the quiet
epidemic of polluted rivers, contaminated soil, and sick people left behind
by decades of industrial neglect. From Ghana’s Galamsey pits to the
oil-blackened streams of the Niger Delta, the continent has become both a
culprit and a victim of its own development choices. But within this paradox
lies Africa’s hope — if it takes the opportunity to make environmental
accountability a new source of sustainable health funding.

The Price of Progress

When mercury and cyanide flow through the Pra and Ankobra rivers, the cost
is measured not only in lost fish but in children’s lungs and mothers’
kidneys. Ghana’s galamsey — the informal, often illegal gold-mining sector —
has become a symbol of how poverty and weak regulation can transform natural
wealth into toxic liability. The pattern repeats across Africa: oil spills
in Nigeria’s Delta region, cobalt dust in the Congo, unfiltered emissions in
Cairo and Johannesburg.

Each crisis reveals the same truth: the people who profit least bear the
highest health costs. The continent’s hospitals, already under strain, are
left to treat the aftermath of unchecked industrial behavior. Meanwhile,
national budgets bleed from the dual burden of disease and environmental
repair — a cost spiral that silently undermines Universal Healthcare
Coverage (UHC).

Culprits, Victims, and Solution Providers

Africa must break the cycle of dependency that has long defined its health
landscape. The continent cannot continue to rely on donors to finance cures
for problems its own economic model perpetuates. Sustainable UHC must be
financed by internal mechanisms that hold industries accountable and convert
environmental harm into public health investment.

That is the premise of the Continental Environmental–Health Tax Levy (CEHTL)
proposed in this paper: a mandatory, AU-backed levy on extractive,
agrochemical, manufacturing, pharmaceutical, and energy-intensive sectors.
The idea is simple: if your production process harms air, water, or soil, a
fraction of your revenue must fund the treatment of the diseases you cause.

The proceeds would be shared across levels of governance: 40 percent to host
countries for hospital infrastructure and environmental cleanup, 20 percent
to Regional Economic Communities (RECs) for enforcement, 25 percent to the
Africa CDC for surveillance and preparedness, and 15 percent to research and
education institutions via the Africa Education Trust Fund (AETF).

This is not a punitive tax; it is a moral and fiscal correction. It
recognizes that the road to UHC runs through the factory floor, the mine
shaft, and the farm.

Ghana’s Lesson — and Africa’s Mirror

Ghana offers both warning and inspiration. The galamsey crisis has polluted
nearly half of the country’s major water bodies. Yet, when formalized within
a cooperative-type triad model — bringing together government, artisanal
miners, and investors — artisanal mining can evolve from an environmental
menace to a community wealth engine. Properly regulated, it generates tax
revenue, supports local health insurance schemes, and reduces mercury
exposure through cleaner technologies.

Other African nations face equivalent choices. In Nigeria’s Delta,
community-driven environmental levies could turn oil pollution settlements
into long-term healthcare funds. In the DRC, traceability systems under the
Fourth Industrial Revolution in Africa (FIRIA) could link cobalt exports to
worker safety compliance and health insurance contributions. The problem is
not resources; it is political will.

>From Pandemic Dependence to Health Sovereignty

The last two decades have exposed the fragility of Africa’s public-health
financing. The HIV/AIDS response was largely donor-controlled. The Ebola
outbreak showed the cost of under-investment in health infrastructure. The
COVID-19 pandemic revealed global vaccine inequality and the limits of
charity. Additionally, we paid for and bankrupted our economies for the
secretive experimentation of others. Each crisis teaches the same lesson:
without its own financing base, Africa’s health sovereignty will remain
aspirational.

That is why the Africa CDC must become the continent’s authoritative health
voice — not a subsidiary to global institutions, but an equal partner that
speaks for 1.4 billion people. Its mandate should include managing the
CEHTL, coordinating research networks, and deploying FIRIA-enabled systems —
from AI-based disease surveillance to blockchain-tracked health funds — to
ensure transparency and accountability.

The Triple Enablers: AfCFTA, AETF, and PSBoR

No single institution can fix Africa’s health economy. Success depends on an
alliance of governance, education, and private-sector discipline.

AfCFTA offers a legal and trade framework to harmonize environmental-health
standards and create a unified market for health goods and services.

AETF reforms education to produce the engineers, data scientists, and
biomedical technicians Africa needs to run a 21st-century health system.

PSBoR enshrines a predictable, ethical environment where private investment
thrives without exploiting people or planet.

Together, they form a tripartite conduit through which sustainable
healthcare financing becomes more than a slogan: a structural reality.

Technology as Africa’s New Immune System

The Fourth Industrial Revolution is not only about automation; it is about
accountability. Artificial intelligence, blockchain, and digital
traceability can detect pollution in real time, track health tax flows, and
forecast disease outbreaks. With FIRIA, Africa can finally integrate
environmental, industrial, and health data — transforming reactive
healthcare into preventive intelligence.

Imagine: a continent-wide system that links mercury readings from mining
communities to early-warning alerts at Africa CDC; or a blockchain ledger
that tracks every cedi of environmental levy from the mines to the clinic.
These are not fantasies. They are achievable under FIRIA if backed by
political resolve.

>From Dependency to Resilience

Africa’s future health depends on its courage to govern differently. Donor
aid may treat symptoms, but only internal accountability will cure the
disease of neglect. The CEHTL and triad governance model offer that cure,
rooted in justice, education, and technology.

A clean river in Ghana, a rehabilitated oil field in Nigeria, a safer cobalt
mine in Congo — each represents not just environmental redemption but fiscal
liberation. Every ton of waste controlled, every emission reduced, every
worker insured moves Africa closer to the vision of Universal Healthcare
financed by its own industries, powered by its own innovations, and governed
by its own institutions.

If we are the culprits and the victims, we must also be the solution
providers. A healthy, educated, and empowered Africa is not merely a
continental aspiration; it is the world’s following line of defense against
global collapse. The time to act — to tax, to reform, to heal — is now.

J. W. Addy is an entrepreneur, policy advocate, and Chair Emeritus of the
Africa Private Sector Summit (APSS). He champions the Africa Education Trust
Fund (AETF), the Private Sector Bill of Rights (PSBoR), and the Africa CDC’s
role in building sustainable, sovereign health systems under the African
Continental Free Trade Area (AfCFTA).

Liberia: Bishop Kortu Brown Warns Against Wasteful Spending in U.S.$1.2b
Budget, Calls for Focus On Ordinary Liberians

Monrovia — The former President of the Liberia Council of Churches (LCC)
Bishop Kortu Brown has called on the Unity Party (UP) led-government of
President Joseph Nyuma Boakai to ensure that the proposed US$1.2billion
budget positively affects the lives of ordinary Liberians, instead of a
selective few public officials.

It can be recalled that the Executive, through the Minister of Finance and
Development Planning Augustine Ngafuan, submitted the draft budget for
Fiscal Year 2026 to the Speaker of the House of Representatives Richard Koon
over the weekend.

But speaking in an interview with Reporters at his Church premises on
Sunday, November 9, Bishop Brown observed that for too long, Liberia's
national budgets have not been adequately utilized to benefit ordinary
Liberians.

He said the generation of US$1.2billion by the government, through the
Liberia Revenue Authority (LRA) is about 70% possible, but identifying
revenue sources and retaining such budget remains a challenge.

"Since post-war, every Liberian government has been inspired to take the
country's budget to a billion dollar. The proposed US$1.2billion budget is a
good step towards overcoming the 60% odds (challenges). It is commendable
but I hope it is able to address the bread and butter issues. What Liberians
want right now-the first thing is to deal with the economic issues," he
noted.

Caveat against recurrent costs

He warned against huge expenditure on recurrent costs in the draft national
budget.

He maintained that the government should "overhaul" the national budget to
ensure that it is "people-centered" to benefit ordinary Liberians.

"You brought a chair and car last year and want to buy a chair and car this
year-That's a recurrent cost. Cut down your personal benefits and put money
into more programs, social services, education, healthcare, the economy so
that it can benefit more people. The projections in the budget should
benefit ordinary Liberians," Bishop Brown added.

He said unreasonable personal expenses, including allowances of public
officials should be cut to ensure that the vast majority of Liberians are
the beneficiaries of the historic US$1.2billion budget proposed.

He emphasized that for several decades, Liberians continue to wonder why
they are fighting against unceasing socio-economic challenges in the midst
of increment in their national budgets.

Bishop Brown said as a result of this, "avoidable expenses" should not be
captured in the draft budget.

Under the Open Budget Initiative, Bishop Brown called on authorities of the
Ministry of Finance and Development Planning to launch a nationwide program
to properly explain budgetary allocations or projections to citizens across
the country.

He observed that Liberians have been finding it difficult to clearly
understand projections made in the national budget, and how monies have been
generated, disbursed and expended by those implementing the budget.

He maintained that members of the National Legislature remain obligated to
ensure that monies allocated to government ministries, agencies and others
are used properly by executing their oversight responsibility.

Bishop Brown further called on lawmakers to ensure that public officials
strictly adhere to the Budget Law of 2024, which amongst other things, calls
for 25% of public goods and services to be procured from Liberian-owned
businesses.

He stressed that the failure of government to implement the law serves as a
contributing factor to the decline in the country's economy.

He said the law must be implemented to help improve the country's economy
and provide jobs to Liberians.

On foreign trips, he called for cut down on foreign trips by the President
and other public officials.

He observed that many of these trips have not benefited the country and its
citizens.

"Liberia is an economically-struggling country.

If you do huge allocations on foreign trips; you do frequent travels, you
have to bring frequent benefits. All the monies you spent could help lot of
Liberians. We call on our national leaders to recommit themselves to the
cause of ensuring that this country can rise up,"

Bishop Brown stressed the need for the Ministry of Foreign Affairs to list
down benefits Liberia and its citizens have or would accrue from the
frequent foreign trips of public officials.

Match words with actions

He further observed that government has not match pronouncement of
development plans and strategies with actions.

He said though efforts are being applied by government to address challenges
facing the nation and the citizenry, the gap still remains huge.

Bishop Brown indicated that these challenges are about 60%, while the
efforts being applied to address them stand at 40%, meaning that, "the
government still has some work to do."

"The government is struggling to get it right, but it's still challenging.
It (government) is trying to fine-tune its strategies or its national plan
of actions. You know words are cheap and those words need to be changed to
actions. Politically, economically, socially and even spiritually we are
challenged," he noted.

Selective governance

Bishop Brown claimed that the Liberian populace comprise of three categories
of citizens.

He named them as supporters of the Unity Party (UP), Coalition for
Democratic Change (CDC) and independent citizens and others from the
remaining political parties in the country.

According to him, government's efforts to address challenges are mostly
benefiting supporters from the ruling party, while concerns being raised by
Liberians in the opposition and other independent citizens are not taken
into consideration.

Bishop Brown stressed that government would continue to make mistakes if it
fails to take advantage of the influence of the religious community in
Liberia by lowering the bars in engaging all stakeholders.

"The President has been making a mistake since his inception into power by
not actively and constructively engaging the rest of the stakeholders. To me
it's an error or weakness. It's not late (to do so); it's still within his
reach to rise up. It's time to govern and to govern, you need the people,"
he stated.

Address others' concerns

He added that government's actions to address challenges should not be
driven by opinions from only its supporters, but from the broad based
concerns being raised by citizens from other political parties.

"Government needs to open up because if you only listen to UP supporters you
will be closing up on about 60 to 70% of the country to you. I think it is a
mistake because, you have only one set of UP supporters. The President needs
to move to the center among the three groups of supporters," he stated.

Bishop Brown said though the latest international recognition of Liberia is
welcoming, the country should responsibly managed this recognition to reap
the needed benefits for Liberians.

He stressed that more efforts must be applied by government to ensure that
foreigners are the ones seeing and narrating the gains being made in Liberia
thus far than Liberians.

Read the original article on FrontPageAfrica.

Malawi: 2025-26 Farm Inputs Subsidy Programme - a Defining Test for the DPP
Government

The Ministry of Agriculture has rolled out the 2025/26 Farm Inputs Subsidy
Programme (FISP), setting the stage for what could be one of the most
critical tests of the Democratic Progressive Party (DPP) administration's
commitment to food security and rural development.

Targeting 1.1 million small-scale farming households across the country, the
programme seeks to close the gaps that have long undermined Malawi's
agricultural support systems. Agriculture Minister Roza Fatch Mbilizi says
the new FISP model is built on efficiency, fairness, and transparency --
aiming to ensure that fertiliser and seed reach farmers on time and without
political interference.

"We have learned from the past," said Mbilizi. "This time, we want every
deserving farmer to get what they need -- no delays, no ghost beneficiaries,
no corruption."

Under the initiative, each eligible household will receive two 50-kilogram
bags of fertiliser and a 5-kilogram pack of seed, at a heavily subsidised
price of K10,000 per bag. Though the programme directly benefits only a
portion of Malawi's more than 22 million citizens, its impact is expected to
ripple far and wide -- feeding millions, stabilising food prices, and
stimulating rural economies.

Every participating household represents four to six family members who will
experience improved food security. Increased crop output could also help
contain food inflation, create seasonal jobs, and boost local markets.

Yet, challenges remain. Millions of Malawians outside the targeted list will
not receive inputs, leaving many vulnerable families exposed to food
insecurity. This reality highlights both the strengths and limitations of
targeted interventions -- and the urgent need for broader agricultural and
social safety programmes.

In past years, FISP suffered from delays, flawed beneficiary lists, and
corruption. To address these, the ministry has rolled out digital
registries, e-vouchers, and manual verification systems to strengthen
accountability. Mbilizi assured that fertiliser stocks are in place and that
distribution will begin without the bottlenecks that have plagued earlier
efforts.

Agriculture continues to anchor Malawi's economy, contributing up to 25
percent of GDP and employing nearly two-thirds of the labour force. A
well-implemented subsidy programme could mean not just higher yields, but
also stability in food prices and improved rural livelihoods.

To curb malpractice, the Ministry of Agriculture has teamed up with the
Anti-Corruption Bureau (ACB) to enforce transparency. Beneficiary lists,
warehouse stocks, and delivery records will be made public to prevent
manipulation and theft.

For thousands of smallholder farmers, the subsidy is more than fertiliser
and seed -- it is hope. Hope for a better harvest, better nutrition, and a
life beyond the cycle of seasonal hunger.

As the programme unfolds, Malawians are watching closely. The 2025/26 Farm
Inputs Subsidy Programme is not just about agriculture; it is a litmus test
for DPP's leadership, integrity, and ability to deliver on promises. Its
success or failure will echo across the country -- in every village, every
market, and every home.

Read the original article on Nyasa Times.

Malawi: IMF Holds the Key - World Bank Tells Malawi to Fix the Leaks Before
Help Can Flow

Malawi's hope for renewed budgetary support has hit a hard truth: it will
not come until the country restores its relationship with the International
Monetary Fund (IMF). The World Bank has made it clear -- without
macroeconomic discipline and credible reforms, pouring money into Malawi's
budget is like "putting water into a leaking bucket."

The warning comes as Malawi grapples with a deepening economic crisis --
runaway inflation, a crippling forex shortage, and ballooning public debt --
all unfolding as millions of citizens struggle to survive under rising
prices and stagnant wages.

In an exclusive interview on Monday, World Bank Vice President for Eastern
and Southern Africa, Ndiame Diop, said resuming direct budgetary support is
impossible without Malawi first re-establishing an active programme with the
IMF.

"Without restoring macro stability, budget support is like putting money
into a leaking bucket," Diop said bluntly. "You don't solve the problem --
and the suffering of the population continues."

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Malawi's four-year, $175 million Extended Credit Facility (ECF) with the IMF
expired on May 14, without a single review being completed. That failure
effectively left the country without a programme to anchor its macroeconomic
policy. In simple terms -- Malawi is navigating a financial storm without a
compass.

The absence of an IMF programme has spooked investors, shaken donor
confidence, and starved government coffers of desperately needed foreign
support. Donors and partners who once poured millions into Malawi's
development agenda have quietly stepped back, demanding accountability,
fiscal discipline, and a credible reform roadmap.

Diop said the IMF is currently assisting government in "realigning its
economic management" -- a step he described as crucial for rebuilding both
investor and donor confidence.

"Once Malawi demonstrates reform momentum," Diop explained, "the World Bank
and others will be better positioned to provide direct financial support."

Asked whether the World Bank might ease its conditions to give Malawi's new
DPP-led administration time to settle, Diop was firm. There will be no
shortcuts. The Bank, he said, has already stepped in with emergency
humanitarian support to address the worsening food situation, but long-term
aid will depend entirely on the government's reform pace.

"We move in tandem with government reforms," he said. "If the government
moves, we move."

Finance Minister Joseph Mwanamvekha remains under pressure to deliver quick
and credible fiscal reforms. Speaking on Sunday, he said Malawi had informed
the World Bank that devaluation of the kwacha was "not a solution" to the
current forex crisis -- a statement that has divided economists.

Meanwhile, IMF Mission Chief to Malawi Justin Tyson said last Friday that
IMF staff had agreed with the government on the urgent need for fiscal
consolidation and tighter monetary policy to tackle inflation, reduce
economic imbalances, and stabilise the foreign exchange market.

For millions of Malawians, these are not abstract policy debates -- they are
questions of survival. Prices of food, fuel, and essential goods continue to
rise daily. The kwacha's weakness has eroded incomes, and the lack of donor
budget support means fewer social services, delayed salaries, and stunted
development.

What the IMF and World Bank are demanding -- fiscal discipline,
transparency, and reform -- are not new. They are the same principles Malawi
has promised for years but failed to sustain.

The message from the global lenders is now unambiguous: no reform, no
rescue.

Until Malawi stops the leaks, the taps of international support will remain
firmly closed -- and ordinary citizens, already bruised by years of
mismanagement, will continue to pay the heaviest price.

Read the original article on Nyasa Times.

Kenya: Ruto Targets One Million Youth Jobs in Housing Programme By 2026

Nairobi — President William Ruto says the number of youth working in the
Affordable Housing Programme will rise to one million by 2026.

Speaking during his working tour of Makueni County, Ruto noted that 600,000
youth have currently been absorbed into the flagship project where the
government plans to construct 1,000,000 houses across the country by 2027.

"From the bottom of my heart, thank you very much for being part of the
transformation of Wote and Kenya," he said while addressing hundreds of
jubilant workers at the site.

He also laid the foundation stone for a new KSh360 fresh modern market in
Wote town.

The President said the government has allocated KSh570 million to build a
new stadium in Wote, and asked the Makueni County leadership to find
suitable land for it.

Furthermore, he said the government has allocated KSh9.3 billion to complete
pending works at the Thwake Multipurpose Dam by April 2026.

President Ruto said he is open to working with all Kenyans and political
leaders from all parties to take Kenya forward.

"We now have the broad-based government, which brings together all Kenyans,
including the people of Makueni and the entire Ukambani," he said.

The President assured the residents of the Lower Eastern counties of
Makueni, Kitui and Machakos that they will not be left behind in national
development.

He pointed out that the region had overstayed in opposition politics, but
said they will be part of Kenya's journey of national transformation.

"Even if its by force, I'll make sure that you're not left behind in
national development irrespective of the political support you have accorded
me previously or in the future," Ruto said at Kasikeu in Kilome
Constituency, Makueni County, during the start of a four-day tour of
development projects in the region.

He added: "For long, Ukambani has lagged behind in national development, but
we are here to correct that."

Read the original article on Capital FM.

Nigeria: Firm Seeks Tinubu's Help Over Airport Authority's Failure to Pay
for Work Done

A construction firm, M3 International Nigeria Limited, has asked President
Bola Tinubu to compel the Federal Airport Authority of Nigeria (FAAN) to pay
and compensate for the delay and refusal to pay for a construction work
executed at the Nnamdi Azikiwe International Airport, Abuja.

In a statement signed by Mallam Muktar Sani on behalf M3 International, the
firm alleged that after the execution of the contract on the 2nd of October
2002, and FAAN issued an acknowledgement receipt letter of completion for
the contract, FAAN has failed to pay for the work done.

The firm also stated that it obtained a loan from First Inter-state Bank Plc
at a 35 per cent interest rate per annum through a 3rd party (African
Cultural Company International Nig Ltd) to execute the contract, and due to
failure to pay by FAAN, the company has suffered more losses.

Part of the statement read that "on May 28, 2002, FAAN awarded our company a
contract for the construction of the wall face at the Bush Canteen Area of
Nnamdi Azikwe International Airport, Abuja.

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"Our company completed the execution of the said contract on the 2nd of
October 2002, and FAAN issued an acknowledgement receipt letter of
completion for the contract. Prior to the execution of the contract, our
company sourced and obtained a loan from First Inter-state Bank Plc at a 35
per cent interest rate per annum through a 3rd party (African Cultural
Company International Nig Ltd) to execute the contract.

"After the execution of the contract, FAAN deliberately failed refused and
neglected to pay our company our entitlement and that led to great hardship
to our company as we could not repay the loan we source to finance the
contract at the same time the interest of 35 per cent per annum continue to
accumulate which led to constant harassment by the bank.

"At the same time, we suffered psychological trauma. Our company wrote many
appeal letters to FAAN requesting for the payment of the contract but to no
avail, Also our company engaged the services of solicitors to write to FAAN
but still without any meaningful result. Because of the constant harassment
from the bank, our company sought the intervention of the Public Complaints
Commission on April 1, 2011 and March 2, 2016, the Bureau for Public
Procurement and the Independent Corrupt Practices and Related Offences
Commission on March 1, 2012."

While making their demands, the company said "Mr President, our appeal to
you, your good office and Nigerians at large is to look at the issue of the
interest as we are being enslaved and still paying our creditors, the
expenses we incurred and the psychological trauma we are suffering and
compel FAAN to compensate our company for the interest of our creditors we
are still suffering, expenses we incurred and the psychological trauma we
are still going through.

"Our company is ever ready and willing to cooperate with you, FAAN, the
public, and to provide ourselves for further clarification."

Read the original article on Leadership.

Nigeria: NUPRC Pushes Alternative Dispute Resolution to End Prolonged Oil
Sector Litigation

Abuja — In a bid to release billions of dollars in potential investments
that are trapped in prolonged litigation, the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC) yesterday said it is promoting the use of its
Alternative Dispute Resolution Centre (ADRC).

The Commission Chief Executive, Gbenga Komolafe, declared this at a
high-level Roundtable Consultative and Sensitisation Forum of the NUPRC's
ADRC held in Lagos, a statement by the Head, Media and Strategic
Communication, Eniola Akinkuotu, stated.

Komolafe, who was represented by the Commission's Secretary and Legal
Adviser, Olayemi Adeboyejo, said ADRC represents a bold expression of the
NUPRC's vision to institutionalise dialogue, equity, and inclusivity in
Nigeria's oil and gas industry.

He said: "The ADRC is more than a mechanism for resolving disputes. It is a
strategic tool for promoting peace, stability, and investor confidence
across the upstream petroleum value chain. We are determined to make ADRC
not a last resort, but the first choice for dispute resolution in Nigeria's
oil and gas sector."

Komolafe explained that the ADRC, established under the Petroleum Industry
Act (PIA) 2021, operates as a neutral, sector-specific platform designed to
mediate and resolve disputes arising from upstream operations in a timely,
impartial, and cost-effective manner.

Komolafe said, since its inception, the ADRC has achieved several milestones
including the inauguration of its 'Body of Neutrals' in Lagos and Yenagoa in
September 2024, and a comprehensive capacity-building programme earlier this
year.

He explained that the Body of Neutrals comprises respected professionals
including lawyers, retired judges, oil and gas experts, and other
specialists selected for their deep industry knowledge, impartiality, and
commitment to the principles of alternative dispute resolution.

"Through the ADRC, we are operationalising the PIA's intent ensuring that
disputes are resolved amicably and efficiently, preserving relationships
that are essential to operational stability, investment protection, and
social harmony," he noted.

According to the NUPRC boss, the commission's proactive promotion of
alternative dispute resolution has been particularly instrumental in
mitigating tensions between operators and host communities. The CCE
disclosed that the ADRC offers the industry a sustainable pathway for
peaceful coexistence.

He added: "Dispute prevention and early engagement are key to building
trust. By encouraging operators, host communities, and other stakeholders to
embrace ADR mechanisms early, we are fostering a culture of mutual respect,
accountability, and collaboration."

He encouraged General Counsel, Legal Directors, and other corporate leaders
across the oil and gas ecosystem to view the ADRC not as a regulatory
instrument, but as a strategic ally in corporate governance and risk
management.

"The sustainability and effectiveness of the ADRC depend on collaboration.
Regulators, operators, host communities, and civil society must continue to
work together to build trust, prevent disputes, and maintain a stable
operating environment," he added.

Komolafe reiterated the NUPRC's commitment to building an industry where
dialogue replaces discord and cooperation replaces confrontation.

The CCE said: "The ADRC symbolises our belief that disagreements can be
transformed into opportunities for understanding. It is a cornerstone of our
broader reform agenda--anchored on transparency, fairness, and shared
prosperity. Through this Centre, we are not only resolving disputes, but
also reinforcing the confidence of investors and the trust of host
communities in the Nigerian petroleum industry."

Speaking later at the event, the Commission Secretary/ Legal Adviser,
Adeboyejo, said ADRC is necessary in today's global and domestic landscape
because Nigeria cannot afford to have billions of dollars in potential
investment trapped in prolonged litigation.

She noted: "The ADRC was therefore conceived as a strategic de-bottlenecking
mechanism -- an efficient, confidential, and cost-effective alternative to
litigation."

The sensitisation forum drew participants from International Oil Companies
(IOCs), independent producers, Host Community Development Trusts (HCDTs),
and other industry players, providing a platform for open dialogue on the
Centre's processes, functions, and adoption pathways.

Read the original article on This Day.

Nigeria: To Preserve Monetary Policy Gains, Analyst Urges Politicians to
Stop Dollar Spending At Elections

Chief Economist at SPM Professionals, Dr. Paul Alaje, yesterday urged
politicians to desist from "sharing" the dollar in the pre-election season
to preserve the recent achievements in monetary policy administration.

Alaje spoke at the Premium Times Academy training, with the theme,
"Business, Economy, and Financial Reporting," organised in partnership with
Central Bank of Nigeria (CBN) in Abuja.

Alaje warned that the dollarisation of the economy could stoke inflation and
erode monetary policy gains so far achieved in CBN's inflation-targeting
interventions.

In an interview with THISDAY, Alaje said, "Over the years -- since 1998 -- I
have tracked election spending closely. A lot of money flows into the
economy during election cycles, particularly in foreign currency (dollars).

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"The situation was especially bad in 2010 and 2014, and we saw a similar
trend in 2023. Each time, there's a surge of dollar inflows into the system,
and the economic impact becomes evident after the election year.

"Typically, the pre-election year records higher economic growth due to
spending activities, but immediately after the election, the economy
declines sharply."

According to him, politicians often make massive withdrawals, convert funds
into dollars, and push them into Bureau De Change (BDC) markets, fuelling
exchange rate instability and inconsistency.

Alaje called on the National Assembly, Independent National Electoral
Commission (INEC), and Economic and Financial Crimes Commission (EFCC) to
boost monitoring mechanisms to address the menace in the interest of the
economy.

He said, "And if, during that same period, there is a global economic shock,
Nigeria feels the impact even more severely because our reserves are already
depleted.

"Why? Because during election years, politicians make massive withdrawals,
convert funds into dollars, and push them into Bureau De Change (BDC)
markets. This fuels exchange rate instability and inconsistency.

"This issue cuts across all political parties -- it's not limited to one."

Alaje said the National Assembly and INEC should establish clear rules to
curb dollar spending by politicians.

According to him, "If campaign spending is to be done, whether within or
beyond INEC's approved limits, it must be done in Naira only.

"The EFCC should also be empowered to monitor and prosecute anyone who
spends foreign currency during elections.

"If we enforce that, then for the first time in a long while, Nigeria could
experience a relatively stable economy even after an election year."

Read the original article on This Day.

Nigeria's Stock Market Tumbles, Loses N4.6trn in One Day

Nigeria's stock market yesterday suffered one of its heavy losses in one
day, dropping by N4.6 trillion on investors' profit-taking in highly
capitalised listed companies on the Nigerian Exchange Limited (NGX).

Highly capitalised listed companies, such as Dangote Cement Plc, MTN Nigeria
Communications Plc, and BUA Cement Plc, all dropped by 10 per cent to close
at N594.00, N162.00, and N429.30 per share, respectively.

The market capitalisation of listed stock on the NGX closed yesterday at
N89.885 trillion, about 4.91 per cent or N 4.6 trillion when compared to
N94.526 trillion it opened for trading.

Investors in Dangote Cement stock saw a drop by N1.11 trillion in one day,
as BUA Cement returns was down by N609.6 billion, amid aggressive
profit-taking by investors.

Equally, investors in MTN Nigeria Communications had their returns down by
N1 trillion.

That caused a sharp five per cent drop in the NGX All-Share Index, to
141,327.30 basis points, 7,454.60 basis points or 5.01 per cent from
148,781.90 basis points, when the stock market opened for trading.

Consequently, the Month-to-Date and Year-to-Date returns settled lower at
-8.3 per cent and +37.3per cent, respectively.

Sectoral performance mirrored the broader market downturn, with the NGX
Industrial Goods Index (-8.6per cent), NGX Banking Index (-7.3per cent), NGX
Oil & Gas Index (-4.6per cent), NGX Insurance Index (-4.3per cent), and NGX
Consumer Goods Index (-2.2per cent) indices all closed lower.

Analysts attributed the downward movement in the stock market to investors'
sentiment trading over President Donald Trump's threat of military action in
Nigeria and Federal Government's implementation of the Capital Gains Tax
(CGT).

In a post on Truth Social, Trump said he had instructed the Pentagon to
"prepare for possible action" and warned of immediate suspension of U.S. aid
to Nigeria, Africa's most populous nation and OPEC member.

President Bola Tinubu rejected Trump's comments, calling them a
misrepresentation of Nigeria's "consistent and sincere efforts to safeguard
freedom of religion and belief for all Nigerians".

Speaking with THISDAY, Investment Banker & Stockbroker, Tajudeen Olayinka,
said the N4.6 trillion drop in market capitalisation was against the
backdrop of Trump's threat and introduction of CGT by 2026.

Olayinka stated, "The combination of these two factors have played a
significant role in investors' profit-taking in highly capitalised stocks on
the NGX.

"The likes of Dangote Cement, among others that dropped when the market
closed, have strong forces to pull down the market. The overall negative
news around the market have played a significant role."

David Adonri, Vice Chairman, Board of HighCap Securities, said, "Short-term
market adjustments are normal in a dynamic market like Nigeria's.

"The underlying fundamentals remain strong, and the year-to-date performance
highlights the resilience and depth of our capital markets."

Read the original article on This Day.

Nigeria's Stock Market Tumbles, Loses N4.6trn in One Day

Nigeria's stock market yesterday suffered one of its heavy losses in one
day, dropping by N4.6 trillion on investors' profit-taking in highly
capitalised listed companies on the Nigerian Exchange Limited (NGX).

Highly capitalised listed companies, such as Dangote Cement Plc, MTN Nigeria
Communications Plc, and BUA Cement Plc, all dropped by 10 per cent to close
at N594.00, N162.00, and N429.30 per share, respectively.

The market capitalisation of listed stock on the NGX closed yesterday at
N89.885 trillion, about 4.91 per cent or N 4.6 trillion when compared to
N94.526 trillion it opened for trading.

Investors in Dangote Cement stock saw a drop by N1.11 trillion in one day,
as BUA Cement returns was down by N609.6 billion, amid aggressive
profit-taking by investors.

Equally, investors in MTN Nigeria Communications had their returns down by
N1 trillion.

That caused a sharp five per cent drop in the NGX All-Share Index, to
141,327.30 basis points, 7,454.60 basis points or 5.01 per cent from
148,781.90 basis points, when the stock market opened for trading.

Consequently, the Month-to-Date and Year-to-Date returns settled lower at
-8.3 per cent and +37.3per cent, respectively.