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NNPC profit crashes 80%, fall to ₦185bn from ₦905bn

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a massive decline in its profit after tax, which fell from ₦905 billion in June to ₦185 billion in July, marking a sharp 79.6% drop.

Details of the company’s monthly financial and operational report, released late Thursday, show that revenue in July stood at ₦4.41 trillion, lower than the ₦4.57 trillion recorded in June.

According to historical data, NNPC posted a profit of ₦926 billion in April and ₦1.05 trillion in May, before sliding to ₦905 billion in June. The July result represents the company’s weakest performance in recent months, despite a slight rise in production.

The report also highlighted statutory payments of ₦7.97 trillion between January and June 2025, underscoring the company’s continued contribution to government revenue.

On infrastructure, NNPC said the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) gas pipeline projects are progressing, with completion levels at 96% and 83% respectively.

The 113-kilometre portion of the OB3 pipeline has already been commissioned and is transporting about 300 million standard cubic feet of gas per day (mmscf/d) from producers including AHL (250 mmscf/d), Platform, Chorus, and Xenergi (50 mmscf/d).

Upstream operations were reported to be stable, with pipeline availability maintained at 100%.

The company also disclosed that additional subcontractors have been mobilised to speed up the mainline works on the AKK project, while a revised strategy has been adopted to fast-track completion of the OB3 River Niger Crossing.

Despite the profit slump, NNPC said it remains focused on sustaining crude oil and condensate production, enhancing facility uptime, and strengthening collaboration with stakeholders to improve operational efficiency.

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Crowd Storms Olumo Rock As Abiodun Declares Two-Month Free Entry (Video)

Since Governor Dapo Abiodun declared a two-month free entry period after major renovations, the historic Olumo Rock in Abeokuta has continued to attract large numbers of tourists.

The governor had officially commissioned the newly renovated Olumo Rock Tourism Complex.

Abiodun had earlier announced that public access to thenewly renovated Olumo Rock Tourism Complex will be free until the end of September 2025.

He made the announcement after commissioning the iconic site in July.

Here

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I Will Support Anyone Who Backs Tinubu – Wike

The Minister of the Federal Capital Territory, Nyesom Wike has pledged to give his support to President Bola Tinubu.
This is as he also called on residents of Abuja to support Tinubu, stating that he will support anyone who supports Tinubu.
Wike made the statement while commending former Senator representing the FCT, Philip Aduda, and the Chairman of the Abuja Municipal Area Council, Christopher Maikalangu, during the flag-off of Lot 2 of Water Supply Projects in Karu, on Thursday.
The minister hailed both men for their capacity and for bringing development to the people, while promising the construction of a 2km road in Karu site, on the request of Aduda, adding that he will support those who continue to support the Tinubu-led administration.
He further commended the AMAC Chairman, Maikalangu, as “very good and hardworking”, noting that the latter had used his access to government to deliver several projects to his residents in the area council, adding that his administration will do, whatever he asked if he (Maikalangu) won his re-election bid as council chairman.
“There is a road where you said is about 2km, is it not? Consider it done. You know, one thing about government and politics, support those who have capacity to bring something to the people. Support those that government will listen to.
 
“From what happened now, you see that Aduda, government has his ear where he is. And that’s why government said where is that road he mentioned? Consider it done.
 
“You can see that since he (Maikalangu) became the Chairman of AMAC, he has brought government to do Saburi Road, he has brought the government to do Kabusa-Takushere Road, he has brought government to redo this road. He has brought government to do Deidei Road.
 
“For me, I’m here to talk about those who have access to government and bring something to the people.
 
“The chairman has access to us. Anything he tells us, we will do. This is the only man I know. If he wins as chairman of AMAC, we will give him whatever he wants. I don’t know the party he belongs to. But I know that he supports Tinubu. Anybody who supports Tinubu, I will support him,” Wike said.
The minister pointed out that past governments had failed to provide the needs of the people, particularly water supply to the communities in Karu, noting that the government of Tinubu has fulfilled its promise to provide potable water to satellite towns.
“We have had a government who stayed here for five years, isn’t that correct? We have had a government who stayed here for eight years too, is that correct? Has any government come to say, look, we will provide you water? Have you had water before? Did this government promise it will give you water? Have we come now to give you water?
 
“So, you believe you have a covenant with this government. And the covenant is like somebody said, agreement is agreement. So, the people of Karu, you will readily remember the government that remembers you, is it not correct?
 
“Will you remember those who had the opportunity and they refused to do anything for you? Will you remember those who left Karu unattended, will you remember them? So, we have come to fulfil the promise we made to you, that you must have clean and potable water,” he stated.
PUNCH Online reports that Aduda represented the FCT on the platform of the Peoples Democratic Party between 2011 and 2015, and was re-elected in 2015 and again in 2019, before losing the seat in the 2023 general elections.
Meanwhile, Maikalangu is seeking re-election as Chairman of AMAC in the forthcoming February 2026 Area Council elections, on the platform of the ruling All Progressives Congress, after defecting from the PDP in 2024.
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ASUU threatens strike over unpaid salaries, poor funding of universities

The Academic Staff Union of Universities (ASUU) has issued a fresh warning of a possible nationwide strike, accusing the Federal Government of failing to honour agreements on the revitalisation and proper funding of Nigeria’s public universities.

Addressing reporters at the University of Jos on Thursday, ASUU President, Christopher Piwuna, said lecturers have endured more than two years of broken promises and government inaction despite repeated appeals.

He listed unresolved issues to include the renegotiation of the 2009 ASUU-FGN agreement, outstanding salary arrears, withheld promotions, and poor welfare for retired lecturers.

“As always, it is the FGN that has consistently pushed our union to embark on a strike action, and it is clear that ASUU may have no other option than to press the FGN to listen to our demands and do the needful,” Piwuna said.

The ASUU chief also rejected the government’s proposed tertiary institutions staff support fund loan scheme, describing it as a “trap.”

“Our members do not need loans. What we need is the implementation of agreements that will improve our purchasing power. Government is still owing us three months’ salaries, yet they are asking us to borrow money,” he said.

ASUU further criticised the expansion of universities without sustainable funding, warning that the trend has weakened standards and affected global rankings. On pensions, the union lamented that professors who served for over 40 years now receive as little as ₦150,000 monthly despite inflation and high living costs.

The union said it is awaiting the outcome of a government meeting scheduled for August 28 before making a final decision, but disclosed that members will hold rallies across campuses next week to express their frustrations.

“Time is running out. We cannot continue to wait endlessly while the future of Nigerian universities is destroyed,” Piwuna warned.

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2027: Amaechi Cannot Be Nigeria’s President – Wike

The Minister of the Federal Capital Territory FCT, Nyesom Wike has opined that a former Transport Minister, Rotimi Amaechi cannot be President in 2027.
According to him, the reason is because Amaechi would be the last person to be considered for the party’s ticket.
Wike also alleged that former Secretary to the Government of the Federation SGF, Babachir Lawal, is angry with President Bola Tinubu because he was not chosen as vice president.
Speaking in an interview on Channels Television monitored in Abuja on Tuesday night, Wike claimed Lawal personally visited him in Port Harcourt, Rivers State, alongside a former Speaker of the House of Representatives shortly after Tinubu announced his running mate.
On Amaechi’s ambition, Wike ridiculed the former Rivers governor’s recent claim that he knew the weaknesses of President Tinubu and could defeat him, saying the former Rivers governor had been “mercilessly” defeated in past contests.
He said: “The last person they will give a ticket to is Amaechi. That is dead on arrival. In 2014 and 2015, when he was governor, we defeated him. In 2019, when he was Minister and Director General of Buhari’s campaign, we also defeated him. Even in 2023, when he supported another candidate, he still lost. So how would he now claim the capacity to win?”Wike queried.
The minister maintained that Amaechi’s record in previous elections shows he lacks the political strength to actualize a presidential bid, even in a new party platform.
Wike also advised the former Governor of Sokoto State, Aminu Tambuwal to clear his name before the Economic and Financial Crimes Commission EFCC instead of politicizing his recent invitation by the anti-graft agency.
Speaking on Lawal’s grievance, he said it stemmed from his expectation that he would be selected as the vice presidential candidate.
“What was his anger? His anger was that he thought Mr President would have chosen him as the vice presidential candidate. Having not done that, heaven would have to let loose. He wanted to become vice president; that is very obvious,” Wike said.
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I’m Not In Supremacy Battle With Any Monarch – Alaafin Declares

The Alaafin of Oyo, Oba Akeem Owoade, stated on Thursday that he is not engaged in any supremacy tussle with any monarch, either in Yorubaland or anywhere else in the world.

He made this disclosure in a statement released by his Director of Media and Publicity, Bode Durojaiye, in Ibadan, the Oyo State capital.

The fresh battle between the Alaafin, Oba Owoade and the Ooni of Ife, Oba Enitan Ogunwusi, started last Monday after the Alaafin faulted the Ooni’s decision to confer the title of Okanlomo of Oduwa on a businessman, Dotun Sanusi, during the unveiling of an indigenous social media network- 2geda, at Ilaji Hotel, Ibadan, at the weekend.

The statement explained that Alaafin is a veritable custodian of Yoruba culture and tradition, and has always taken into consideration the safety and welfare of his subjects at all times. It added that the monarch relied heavily on the will and wishes of his subjects.

Durojaiye said he (Alaafin) would never compromise tradition, culture and development of his people for a pot of porridge.

He said the monarch operates a government that is judged by its result, as prosperity, security and well-being of the people dictated his popularity both in the palace and in the empire at large.

The statement reads in part, “Why Alaafin does not need to get into any battle for supremacy with any Oba, either in Yorubaland or anywhere in the universe? These immortal words of Alexander Graham Bell – The most successful men in the end are those whose success is the result of steady accretion.

“It is the man who carefully advances step by step, with his mind becoming wider and wider, and progressively be able to grasp any theme or situation -persevering in what he knows to be practical, and concentrating his thought upon it, who is bound to succeed in the greatest degree” – sum up the life voyage of Owoade, an indomitable monarch with an unequalled passion for the great good of all.

“He (Alaafin) is a veritable custodian of Yoruba culture and tradition, and has always taken into consideration the safety and welfare of his subjects and will never compromise tradition, culture and development of his people for a pot of porridge. The history has been so kind and friendly to Alaafin Owoade publicity since he ascended the throne of his forefathers, as he does not need to get into any battle for supremacy with any oba, either in Yorubaland or anywhere in the universe.

“Alaafin combines humility with royalty to meet the modern-day demands. Kabiyesi (the king who no one questions). Iku Baba Yeye (The one who commands death/he who is parent to death). Alashe (He who wields authority). Ekeji Orisha (Second-in-command to the gods). The Alaafin was inducted into the mysteries of various gods like Ifa, Sango etc to be the direct representative of these deities on earth.”

The statement added, “At the hallowed ground of the Yoruba ancient shrine, as Owoade made a covenant with illustrious Yoruba ancestors that he would defend, protect and add glamour to the Yoruba norms and tradition. Oduduwa’s Principal minister and grandson, Oranmiyan (Because Oduduwa begot Okanbi, (an only child and Okanbi begot Oranmiyan, among others, namely Ila-Orangun, Oni-Sabe, Olu-Popo, Ala-Ketu, Oba-Benin) founded the city of Oyo when prolonged drought struck Ile-Ife as a result of people’s emigration.

“Oyo simply rose to prominence through wealth gained from trade and its military skills. It was the largest West African empire, the most important and authoritative of all the early Yoruba principalities. More so, the British, as it was in their tradition, recognised lineage as meaningful supremacy and legitimacy, preferring to sign the Treaty of Cessation with the Alaafin as the Superior Head of the Yoruba Nation.

“In politics also, he is concerned about the sanctity of his position, and whatever happens on the welfare of his people. Customs and all traditional practices of today in government, religion and economic life have had distance, and possibly age-long origins which were based on valid and accepted tenets that emerged from the synthesis and aggregated experience of a particular society.

“One of such societies is the ancient city of Oyo, reputed for cultural resources that are of rich non-material and material attributes and transmitted through generations. Moreover, the precepts and concepts of Alaafin’s administration have continued to support and nurture the people’s ancient culture and sophisticated civilisation from time immemorial.

“The basic concept of government was monarchy with a rigid adherence to the monolithic Oduduwa dynasty and of the paternal line.” 

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Dangote, as richest man in Africa, is a disappointment to Nigeria – Pastor Odumeje

Popular pastor, Odumeje opines that Dangote answering the ‘richest man in Africa’ is a disappointment to Nigeria, as he reveals why God is angry with him.

He spoke on this during a church session with his members.

According to him, Dangote hasn’t done anything for the Nigerians who are consuming his products.

He further noted that the refinery he had set up hadn’t done anything to alleviate the cost of petrol.

His words …

“That’s why I tell Dan Gote, come and see me. If you do not come and see me, your refinery. I ask God, what is the problem? Because he has never done anything for the entire Nigeria that consuming all his product. For him to be answering the richest man in Africa is a disappointment to Nigeria. So that man do not fit that man. Let him show me. what they have done for Nigeria, even that refinery, did he make the fuel to come down? As the richest man in Africa, he made that refinery even increase the fuel more. That is the anger of God. He tell me, if it did not come down, then I would tell him, God is not happy with you.”

Watch video below …

Here

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“Withdraw your 48-hour ultimatum to Ooni of Ife” – Yoruba Council to Alaafin of Oyo

he Yoruba Council Worldwide (YCW) has called on the Alaafin of Oyo, Oba Abimbola Owoade I, to withdraw the 48-hour ultimatum he issued to the Ooni of Ife, Oba Adeyeye Ogunwusi, in the wake of a growing feud between the two monarchs.

 

The tension began when the Ooni recently conferred the title of Okanlomo of Yorubaland on businessman Chief Dotun Sanusi in Ibadan.

 

The Alaafin rejected the conferment, insisting that only his palace has the authority to bestow pan-Yoruba titles, and demanded its revocation within 48 hours through his spokesman.

The council, which represents Yoruba indigenous people worldwide, urged reconciliation between the two revered traditional leaders.

These monarchs are not only traditional leaders but sacred custodians of Yoruba history, dignity, and culture. Moments like this demand calm, reflection, and unity rather than division,” the statement partly read.

The YCW called on Yoruba elders, statesmen, and cultural custodians to mediate constructively and facilitate a lasting peace. It specifically urged the Alaafin to retract the ultimatum while awaiting the convocation of the Yoruba Obas Conference to formalize a peace pact in Yorubaland.

The council also appealed to Yoruba citizens, particularly young people and social media users, to avoid spreading divisive remarks and to champion understanding and reconciliation.

Our words carry weight, and in times of tension, they should be used to build bridges, not walls. The Alaafin and the Ooni represent eternal symbols of Yoruba civilisation. Their unity is vital for cultural preservation and the collective dignity of the Yoruba nation,” the statement added.

Netizens Reactions…

Tomilola Olalekan Sowo reacted; “All this groups are just making this Alaafin think he’s doing the right thing by advising him. What can he even do to Ooni? Let him face the shame he plans to bring upon himself now. Joker.”

utmostdecasual commented; “It’s better we iron it out now, Ooni is superior to Alaafin. Ile Ife has been in existence before any town in Yorubaland. Last born of Oduduwa, Oranmiyan founded Oyo empire and Benin kingdom. Obatala which is the second born enthroned Ife Kingdom from Oduduwa which is their father. Ooni is superior.”

Engr Package Yemaks said; “Ooni is alaafin great grandfather. Ooni is the real oduduwa. The first ooni of lle ife is oduduwa. So ooni occupy the spot of alaafin forefathers. Go and study yoruba history well.”

Jimoh Oluwabunmi Ahmed stated; “Alaafin will be embarrassed on either side he choose. Ooni get more supporters than Alaafin in the current age. This is not the era of use gun powder access.”

Akin Adeyanju wrote; “Alaafin should be fighting for creation of new Oyo state by now
Abi who chieftaincy help?
Abi Oyo wan dey under Ibadan forever ni ?”

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EFCC Arrests 36 Suspected Internet Fraudsters In Port Harcourt (Photos)

Operatives of the Economic and Financial Crimes Commission (EFCC) Port Harcourt Zonal Directorate have arrested 36 suspected internet fraudsters in Port Harcourt, Rivers State.

They were arrested on Tuesday,  August 19, 2025 in a sting operation at various locations within Port Harcourt following credible intelligence about their suspected involvement in internet- related fraud.

Items recovered from them include different models of exotic vehicles, a Q-link Motorcycle, various brands of phone and laptop containing incriminating and fraudulent documents.

The suspects will  be charged to court upon conclusion of investigation.

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Naira Down To N1,555/$ In Parallel Market

Yesterday, the Naira fell to N1,555 per dollar in the parallel market, down from N1,550 per dollar on Monday.

But the Naira appreciated to N1,534.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell slightly to N1,534.5 per dollar from N1,534.8 per dollar on Monday, indicating 30 kobo appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N20.5 per dollar from N15.2 per dollar on Monday.