Nation
THE STATES
Ogun
Ogun State Government says it has concluded plans to establish mini power plants that will generate 47 megawatts of electricity at N7.2 billion in the first quarter of 2010.
Governor Gbenga Daniel made the announcement in Abeokuta, while receiving a Chinese delegation and officials of CSI Nimbo Electrical Company, a manufacturer of power plants.
Gov. Daniel said government had concluded arrangements to send 20 public servants, including technicians, engineers and administrators to China to acquire necessary skills in the assemblage and management of mini plants.
Gombe
Gombe State Judiciary said it has disposed-off 17, 153 civil and criminal cases while 2,733 were still pending in the state high and Area courts in the year under review.
The State Chief Judge, Mr Hakila Heman, who disclosed this during the celebration of the 2009/10 legal year in Gombe stated that a total of 19,886 cases were registered in the last legal year as against the preceding year where 19,380 cases were recorded in the state.
Justice Heman said that 2,723 cases were still pending in the state high courts and courts of Appeal Seasons were held in Gombe Dukku and Kaltungo respectively.
He also said that the yearning of establishing registry courts in the state had been taken care of as the state judiciary had obtained the license to establish courts that would oversee marriage contract agreements in the state.
Kaduna
Kaduna state government has denied claims that it is marginalising the Southern part of the state, describing statements credited to some indigenes of the area as “bizarre and mischievous.”
Addressing journalist on the issue, Deputy Governor, Patrick Ibrahim Yakowa said all the actions of Governor Namadi-Sambo, do not harbour sectional, primordial or parochial interests.
Yakowa said despite pledges to develop all sections and all sectors of the state, the government takes special interest in providing social amenities in the southern part of the state as a way of fulfilling promises made by the Governor during his campaigns for gubernatorial seat in 2007.
Bauchi
The ill-health of President Umaru Musa Yar’Adua, who is receiving treatment in far way Saudi Arabia, has taken a toll on the act of governance in Bauchi State as the Governor, Malam Isa Yuguda now shuttles between Abuja and Bauchi a development that has slowed down activities at the Government House over last couple of weeks, investigation has revealed.
The development, according to the investigation, was caused by the fact that Yuguda, like his Kebbi State counter part, is the son-in-law to the country’s first family, a situation that is already creating anxiety in the state capital.
While that is going on, investigations have revealed that some of the major projects embarked upon by the administration as soon as it came to power in 2007 including the Ningi Buna Road, Alkakri-Futuk Road as well as the State Secretariat (press centre) of the Nigeria Union of Journalists (NUJ) have all been abandoned.
Kwara
Kwara State Governor, Dr Bukola Saraki yesterday denied recent media reports that he was owing the sum of N8.4 billion being outstanding debt of three companies allegedly linked to him.
The governor, in a statement by his chief press secretary, Mr Mas’ud Adebimpe, described the claim as frivolous, mischievous and a calculated attempt to mislead the unsuspecting public and drag his name into the mud.
The governor was reacting to a paid advertorial sponsored by a group called Renaissance professionals in some national dailies of Monday and Tuesday December 7 and 8, 2009, respectively.
According to the governor’s spokesperson, the group had alleged that Dr Saraki owned three companies Linkers Nigeria Limited, Skyview Properties and Joy Petroleum, which all enjoyed the controversial waivers from Intercontinental Bank Plc.
“To put the records straight, it is no longer news that Dr Saraki had resigned his appointment as a director in all companies where he had interests, including the two mentioned in the paid advertorials Linkers Nigeria Limited and Skyview Properties Limited just as he is not involved in the day-to-day operations of the two companies as portrayed by the faceless group.
“Neither the governor nor any member of his family was at any time whatsoever a shareholder or director of Joy Petroleum Limited,” the statement said.
“As regards the other two companies, we wish to state that Linkers Nigeria Limited, which was alleged to be owing the sum of N1.89 billion, has paid N1.7bn, which amounted to over 90 per cent of the loan,” the statement explained.
“Regarding Skyview Properties, the purported loan was a “margin facility,” which gave the total control of the management of the said shares, for which the loan was secured to the bank in addition to the value of the shares, the company went ahead to pay N343 million.
FCT
Senate’s proposal to establish a joint monitoring board of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) to investigate allegations of corruption against the anti-graft bodies, received the disapproval of the EFCC chairman, Mrs Farida Waziri.
The monitoring board, which the Senate Committee on Drugs, Narcotics, Anti-Corruption and Financial Crimes, is proposing to include in its amendment of the EFCC an ICPC Acts, according to Senator Solo Akinyede, chairman Senate Committee, would comprise secretaries of both agencies.
But speaking at a session on Wednesday, where she defended EFCC’s 2010, N7.68bn budget, Naziri stated that while she was not against being monitored, she warned that care must be taken to ensure that the proposed body does not create additional problems for the fight against corruption.”
Ogun
A lecturer at the University of Agriculture Abeokuta (UNAAB), Prof Philips Adetiloye, has urged the Federal Government to deregulate the salaries of public servants alongside the planned deregulation of oil sector.
Making the call at a news conference in Abeokuta, Adetiloye said it would amount to “dishonesty” if the government did not review the salaries and wages of the workers alongside the oil deregulation policy.
He argued that the only antidote to corruption in the public service and institutions was the payment of justifiable wages and salaries to workers.
Borno
The federal government has been accused of paying lip service to the proposed reform of the Nigerian Police even as the insecurity of lives and properties in the nation has been hinged on the need to have a “new” police.
This was the view expressed at the workshop organised by a pro-human rights group, Cleen Foundation in Maiduguri where the federal government was advised to be more committed to the proposed reforms of the Nigeria Police as the only alternative to move the force from its conventional policing to scientific one.
At the workshop which was to enlighten policemen on issues bordering on human rights, the deputy-executive director of the foundation, Oluwakemi Okonyodo said government ought to be serious and committed to the reforms of the police.
Lagos
In its bid to ensure a clean and healthy environment, the Lagos State Government has signed a Memorandum of Understanding (MoU) with Konsadem Consortium to develop the 1st Modern Integrated Solid Waste Management System in Lagos.
The Integtrated Solid Waste Management site according to the governor, Mr Babatunde Raji Fashola (SAN), located in the Epe area of Lagos will be designed to accept a maximum 900 tons municipal waste daily.
Accordingly, the system to be established comprises of a material recovery facility where glass, plastics, paper and metal are processed for recycling.
In addition, a composting facility for the conversion of food scraps and green waste such as wood and foliage, into organic soil conditioners and a bale fill facility for storing all residual waste in an environmentally friendly manner.
Oyo
It was a weekend of sadness and agony in the camp of former Oyo State governor, Rasidi Ladoja as 19 persons believed to be his supporters perished along Ado-Awaye-Okeho road on their way to a funeral ceremony.
The victims included, former women leader of the ruling Peoples Democratic Party (PDP) Mrs Bose Adedigba, Hakeem Adokola, Tajudeen Afolabi, Toyin Adeyemi among others.
The former governor, devastated by the incident hurriedly returned home from a social outing and cancelled all forms of meetings and appointments in sympathy and condolence with the fallen aides.
Osun
Federal Government has mapped out a ten-year education plan as part of the commitment to restructuring and repositioning the educational sector in response to some identified challenges.
Speaking Saturday at the 37th Convocation of Obafemi Awolowo University, (OAU), Ile Ife, President Musa Yar’Adua, who was represented at the occasion by the Minister of Education, Dr. Sam Egwu, noted that the federal government will soon come out with strategies.
According to the president, the strategies which has been initiated was aimed at making the universities in the country globally competitive, and also make it more liberal and affordable.
Yar’Adua said in the short term, in addition to the increased statutory allocation of funds to education in the national budget, it has streamlined the educational Trust Fund to achieve enhanced focus on the education sector.
The Etche Area Council of Traditional Rulers and Chiefs has declared seven days of mourning across Etche Nation following the demise of late Eze E.M.B Opurum,the Ochie of Etche land .
The declaration was made by the Chairman of the Council, His Royal Majesty, King Dr. Samuel Ndiwe Amechi, during a condolence visit by a delegation of traditional rulers and chiefs to the family of the late Ochie.
The delegation expressed deep sorrow over the passing of the traditional ruler and commiserated with the bereaved family, while acknowledging the late monarch’s contributions to peace, unity, culture and development in Etche Land.
King Amechi described the death of late E.M.B Opurum as a loss to the traditional institution and the wider Etche community, and prayed for the peaceful repose of the late Ochie of Etche.
He also prayed for divine strength and comfort for members of the bereaved family as they mourned their departed patriarch.
In honour of the late Etche reverend monarch, the Council announced the immediate suspension of the Central Etche Wrestling Festival, directing that the cultural event should not proceed during the mourning period.
The traditional council further ordered that flags should fly at half-mast across Etche Land as a mark of respect for the deceased Ochie of Etche, late king ,Eze E.M.B Opurum and in recognition of his position within the traditional institution.
The seven-day mourning period, according to the Council, is intended to enable the various clans of Etche Nation to collectively mourn the late monarch and honour his memory.
Meanwhile, the Council has warned members of the public against relying on any statement purportedly issued on the letterhead of the late Ochie and attributed to Eze Kenwala.
The Council said such a statement was not authorised, urging the public to disregard it and rely on official communications from the recognised traditional authority concerning matters relating to the late Ochie of Etche.
The warning was contained in an official announcement signed by King Dr. Samuel Ndiwe Amechi, Chairman of the Echei Area Council of Traditional Rulers and Chiefs.
The Council reaffirmed its commitment to ensuring that the mourning period is observed with dignity and respect, while urging the people of Etche Nation to remain united as they honour the memory of their departed traditional ruler.
The Niger Delta Development Commission, NDDC, has charged contractors and consultants handling its projects across the Niger Delta to embrace Alternative Dispute Resolution, ADR, mechanisms to ensure faster and sustainable project delivery.
The Managing Director and Chief Executive Officer of the Commission, Dr Samuel Ogbuku, gave the charge while declaring open a three-day sensitisation programme with the theme: “Enhancing Capacity for Alternative Dispute Resolution” for NDDC contractors and consultants.
Ogbuku, who was represented by the Executive Director, Corporate Services, Hon. Ifedayo Abegunde, said the programme was informed by the recognition that while conflicts are inevitable in project implementation, their escalation can be prevented through early identification and professional management.
He noted that disagreements in the course of execution could arise from issues such as payments, variations, designs, project timelines, quality of work, measurements, access to sites, contractual obligations and relationships with host communities.
According to him, the ability to address such issues promptly could determine whether a problem is resolved within days or allowed to degenerate into a dispute lasting months or years.
The NDDC Chief Executive said the consequences of delayed projects go beyond the Commission and its contractors, stressing that communities waiting for roads, bridges, schools, healthcare facilities and other interventions bear the ultimate burden.
He listed delayed completion, increased project costs, strained relationships, litigation, claims and loss of valuable time among the consequences of unresolved conflicts.
Ogbuku described contractors and consultants as critical first responders in conflict management because of their proximity to project sites, host communities and emerging challenges, and urged them to develop capacity to identify early warning signs and negotiate effectively.
He identified negotiation, mediation, conciliation, adjudication and arbitration as practical ADR mechanisms that could be deployed depending on the nature of disputes, adding that the International Federation of Consulting Engineers, FIDIC, emphasizes early dispute avoidance as key to successful delivery.
He stressed that ADR should not be seen as a means of avoiding accountability or compromising legitimate contractual rights, but as a mechanism for addressing problems intelligently, proportionately and early enough.
Also speaking, the Director of the Alternative Dispute Resolution Department, Mr Godwin Ayewumi Ogedegbe, said the complex social, economic and environmental realities of the Niger Delta often generate tensions which, if poorly managed, could undermine development projects.
He said contractors must understand host community dynamics to ensure their interventions promote inclusion, trust and cooperation, rather than deepening divisions.
Presenting the lead paper, Prof. Isaac Olawale Albert called on the NDDC and its contractors to integrate conflict sensitivity and ADR into everyday project execution, warning that technically sound projects could still fail when community expectations and grievances are poorly managed.
He identified elite capture, exclusion, local-content disputes, land and compensation issues, employment grievances and environmental concerns as major risks, and advocated stakeholder mapping, transparent communication, early-warning mechanisms and accessible grievance channels, declaring that “peace is not an accessory to project delivery; it is part of the infrastructure we are building.”
PRESCO.LG NGX: PRESCO), Nigeria’s leading fully integrated agro-industrial company, today held its 33rd Annual General Meeting (AGM), where shareholders adopted the Company’s audited financial statements for the year ended 31 December 2025 and approved key business and governance resolutions. The AGM also highlighted Presco’s record 2025 performance, its expanded regional platform and priorities for 2026.
Presco delivered record financial performance in 2025. Revenue rose 59.3% to ?330.6 billion, Profit Before Tax (PBT) increased 57.1% to ?177.9 billion and Profit After Tax (PAT) rose 56.1% to ?121.4 billion. EBITDA grew 43.7% to ?211.8 billion, while total assets increased 94.9% to ?926.0 billion. A landmark ?236.7 billion rights issue more than doubled total equity to ?442.7 billion, materially strengthening the balance sheet and supporting the Company’s growth plans.
Shareholders approved a final dividend of ?14.66 per 50 kobo ordinary share, taking the total dividend for FY2025 to ?44.66 per share. The payout reflects Presco’s disciplined approach to balancing reinvestment for growth with consistent cash returns to shareholders.
Commenting on the Company’s performance, Mr. Rasheed Olakanmi Sarumi, Chairman, Presco Plc, said:
“I commend our management teams across the region for their exceptional execution during a transformational year, and I thank my colleagues on the Board for their diligent oversight.
The record performance delivered in 2025 reflects the strategic choices we have made and the stronger regional platform we are building.
As we integrate our operations across Nigeria and Ghana, our focus remains clear: build scale, improve efficiency and create sustainable long-term value for our shareholders and stakeholders.”
The record performance was matched by significant strategic progress. Presco completed the acquisition of the remaining 48% shareholding in Ghana Oil Palm Development Company Limited (GOPDC), taking its ownership to 100%, and acquired Saro Oil Palm Limited (SOP), including the Nsadop and Boki estates in Cross River State.
Together, these transactions expanded the Company’s plantation base and production pipeline, deepened its regional presence and positioned Presco for medium- to long-term volume growth. The successful rights issue further strengthened funding capacity for integration and expansion.
Commenting on the Company’s outlook, Mr. Reji George, Managing Director and Chief Executive Officer, Presco Plc, said: “We enter Presco’s next phase of growth with greater scale, stronger operating capabilities and a more integrated regional platform. Our priority is to convert that scale into measurable efficiencies and stronger performance, while building the people, systems and capabilities required to sustain growth across West Africa.”
The AGM also recorded key governance outcomes. Shareholders ratified the appointments of Mr. Ademola Adebise, Mr. Adewale Arikawe and Mr. Francois VanHoydonck as Directors of the Company, while Mr. Rasheed Olakanmi Sarumi, Mr. Abdul Akhor Bello and Ms. Osayi Alile were re-elected as Directors retiring by rotation.
The Chairman paid tribute to Mr. Felix Nwabuko FCA, a former Managing Director and Chief Executive Officer of Presco and former Group Chief Executive Officer of SIAT, who retired from the Board with effect from 2 January 2026, and expressed the Board’s appreciation for his distinguished service and enduring contribution to the Company.
Looking ahead, Presco is focused on translating its expanded scale into stronger operational performance and sustainable value creation. Immediate priorities include completing operational harmonisation across its businesses, capturing synergies across procurement, production and logistics, optimising the integrated cost base and pursuing disciplined growth opportunities aligned with the Company’s long-term strategy.
With a stronger balance sheet, an increasingly integrated operating model and a growing regional platform, Presco is well positioned to strengthen its competitive position across the West African edible oils value chain and deliver sustainable long-term value for shareholders and other stakeholders.
