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NUPENG And The Rest Of Us

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The National Union of Petroleum and Natural Gas Workers
(NUPENG), last Monday in Lagos, issued a four-day notice to embark on a
nationwide strike should the Federal Government fail to effect payments of
outstanding fuel subsidy claims to importers of Premium Motor Spirit (PMS)/depot
owners across the country.

While issuing the threat, President of NUPENG, Achese Igwe,
said that the action became imperative following government’s failure to pay
the subsidy claims, which the union argues, was a breach of an agreement it
reached with the government on July 27, 2012, and therefore, threatens the job
security of Nigerians working for the oil marketers as they (marketers) are now
unable to pay staff salaries.

NUPENG also insisted that the government needed to clear the
outstanding subsidy claims because it has refused to repair the refineries and
depots to enable them refine and store products for local consumption. The
union argued that fuel importation was a burden the Federal Government brought
upon itself by sheer neglect of the refineries, stating that it therefore,
behoves on the government to fulfil its obligations to Nigerians by paying
those licensed to import products.

The union said that government’s failure to pay the
outstanding subsidy claims to fuel importers, meant that its members working
for the private depot owners and others, who have been owed salaries for
months, would continue to suffer as long as government remained adamant,
stressing that this was in breach of the Memorandum of Understanding (MoU)
signed with all stakeholders by government.

But in a swift reaction, Minister of Finance, Dr Ngozi
Okonjo-Iweala, said that the government would not pay subsidy to individuals
and companies indicted in the 2011 oil subsidy probe to which several billions
of naira had been siphoned from government’s coffers.

Okonjo-Iweala, who is also the Coordinating Minister of the
economy, stated that as long as the Economic and financial Crimes Commission
(EFCC) had not concluded its prosecution of those accused of fraudulently
receiving monies from government in connection with fuel importation,
government will not release any payments to them until they refund the monies
they illegally collected.

While The Tide understands the union’s position over the
delay in fixing the refineries and depots, and the fact that its members
working for some of the companies indicted in the subsidy probe reports may be
suffering as a result of the inability of their employers to pay them salaries
as and when due, we seriously disagree with the union’s stand that industrial
action is the best option available.

The Tide reckons that NUPENG has an inalienable right to
protest and ensure improved welfare for its members, but the union should also
realise the fact that where its rights end, the rights of other Nigerians
begin. Without a doubt, the union has to respect the rights of others to
peaceful socio-economic lives and demand its members’ rights in such a way that
they do not infringe on the rights of others.

We indeed believe that there are other means of resolving
such conflicts, especially through dialogue and negotiations with all parties
as well as enlisting the services of the courts of competent jurisdiction to
adjudicate on the matter to ensure that justice was served instead of
attempting to be the accuser, the judge and the executioner in its own matter.

For us, the NUPENG’s threat is a deliberate ploy to
blackmail the government into paying undeserving petroleum marketers for
services they did not render.  This, in
itself aims at perpetuating official corruption which every well meaning
Nigerian stands against.

We rather expect NUPENG to mount pressure on the petroleum
marketers to comply with the due process and get their pay instead of trying to
blame the ordinary Nigerians. NUPENG should be civil enough to dialogue with
the Federal Government on the subsidy payment issues with a view to finding a
sustainable solution to the impasse and nothing more.

Plunging the nation into any strike at this time would
subject millions of Nigerians into another period of suffering and drain the
struggling economy. Besides, the security challenges facing the nation would
further be given fillip by creating window for hoodlums to take advantage of
the atmosphere to cause instability and threaten the peace of the nation.

Nigerians are not ready now for any strike that would cripple
the system just to satisfy the selfish interest of a few. We think that it is
time to call the NUPENG bluff. NUPENG should realise that it is not the only
industrial union in Nigeria, and that its excesses should not be allowed to
hurt any Nigerian anymore. Nigerians deserve to lead their normal lives without
any distractions from another round of fuel strike.

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FG Begins South-West Tour To Promote New Cooperative Bank

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The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
 Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted  the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
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Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

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The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.
This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,
Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.
According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).
He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.
Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.
“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”
Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.
“It may surprise you to know that many homes are broken due to drugs.
” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.
Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.
The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.
Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.
 The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.
In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.
Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.
 Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.
Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.
CHINEDU WOSU
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Dangote,  Nicolai Tangen To Partner In strategic sectors

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Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.
This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote  with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .
Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.
The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.
Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.
The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.
Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.
Nkpemenyie Mcdominic, Lagos
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