Nigeria’s oil sector is facing fresh uncertainty after regulators and agencies reportedly raised concerns over the financial implications of President Bola Tinubu’s latest directive on oil revenue.
Meanwhile, the Peoples Democratic Party has gone to court following the All Progressives Congress’ sweeping victory in most of the Federal Capital Territory council polls.
In electoral reforms, Resident Electoral Commissioners may face jail terms for rigging-related offences under new provisions, while political manoeuvring intensifies in Bayelsa ahead of the selection of the next deputy governor.
Labour leaders in the oil sector have also urged the Federal Government to sell a majority stake in the country’s refineries.
Below are this morning’s top stories:
1. Tinubu’s oil order triggers concerns at NNPC, NUPRC
The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission are reportedly worried about possible financial strain following President Bola Tinubu’s directive affecting oil revenue flows.
Stakeholders say the policy shift could significantly alter how funds are managed within the sector and may test the financial stability of the agencies involved. Read here: https://punchng.com/nnpc-nuprc-fear-financial-squeeze-after-tinubus-order/#
2. PDP drags APC to court over FCT poll results
The Peoples Democratic Party has assembled a legal team to challenge the outcome of the Federal Capital Territory Area Council elections after the All Progressives Congress won five of the six chairmanship seats.
The opposition party alleged irregularities and is seeking legal redress over the results. Read here: https://punchng.com/fct-poll-pdp-drags-apc-to-court-after-five-council-sweep/
3. INEC Resident Electoral Commissioners risk two-year jail term
Resident Electoral Commissioners may face up to two years in prison under new electoral provisions targeting misconduct during elections.
The measure is part of efforts to strengthen accountability and discourage manipulation of the electoral process. Read here: https://punchng.com/rigging-inec-recs-risk-two-year-jail-term/#
4. Intrigues trail choice of Bayelsa’s next deputy governor
Political consultations and strategic moves are ongoing in Bayelsa State ahead of the emergence of the next deputy governor.
Party leaders and influential figures are reportedly weighing different options as the process gathers momentum. Read here: https://punchng.com/bayelsas-next-deputy-gov-behind-the-scenes-moves-political-calculations-intrigues/
5. Sell 51% stake in NNPCL refineries — PENGASSAN
The Petroleum and Natural Gas Senior Staff Association of Nigeria has urged the Federal Government to sell a 51 per cent stake in the country’s refineries.
The union argued that partial privatisation could improve efficiency and reduce the financial burden on government. Read here: https://punchng.com/sell-51-stake-in-nnpcl-refineries-pengassan-urges-fg/#google_vignette
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