As the nation prepares for a new week, several major developments in politics, economy, and security are topping the headlines this morning.
From high-level political gatherings in Lagos to significant shifts in the energy sector, here is the essential update for your Sunday morning.
31 APC Governors Converge on Lagos for High-Stakes Meeting
The Progressive Governors Forum (PGF) is set to convene in Lagos today for a crucial meeting hosted by Governor Babajide Sanwo-Olu. Held at the Eko Hotel and Suites, the gathering coincides with President Bola Tinubu’s presence in the state for the Eid-el-Fitr break. With the APC now controlling 31 out of 36 states, the governors are expected to deliberate on “strategies to align state-level policies with the agenda of the federal administration.” The forum, chaired by Governor Hope Uzodimma, is also expected to review national security coordination following recent regional challenges.
Fuel Price Alert: Petrol Hits ₦1,332 as Dangote Refinery Hikes Rates
The cost of Premium Motor Spirit (PMS) has seen a fresh surge this morning, with retail prices hitting ₦1,332 per litre at various outlets. This follows the Dangote Petroleum Refinery’s decision to increase its ex-depot (gantry) price to ₦1,275 per litre effective from midnight. This marks the fifth price adjustment in March alone. The refinery management attributed the hike to “escalating global geopolitical tensions in the Middle East and rising crude oil costs,” which have pushed international benchmarks higher.
DHQ Dismisses Reports of US Drone Base Relocation to Nigeria
The Defence Headquarters (DHQ) has officially cleared the air regarding rumors that the United States is moving its drone base from Niger Republic to Nigeria, calling such reports “unfounded and misleading.” While confirming that the US has deployed MQ-9 Reaper drones and approximately 200 personnel to Bauchi Airfield, Director of Defence Information Samaila Uba clarified the mission: “Our US partners remain in a strictly non-combat role, focusing on intelligence sharing, training, and advisory support.” He emphasized that there are no plans for a permanent foreign military base on Nigerian soil.
President Tinubu Commends Tony Elumelu on His Birthday
President Bola Tinubu has sent a warm congratulatory message to the Chairman of Heirs Holdings, Tony Elumelu, as he celebrates his birthday today, March 22. In a statement, the President described Elumelu as an “African business icon” and a “standout advocate of the Nigerian and African enterprise.” This comes as the Tony Elumelu Foundation (TEF) prepares to unveil its 12th cohort of entrepreneurs today, continuing its mission to provide “non-refundable seed capital of $5,000” to thousands of young Africans.
Oyo High Court Restrains Alao-Akala’s Family Over Estate Dispute
A legal battle has emerged over the estate of the late former Governor of Oyo State, Christopher Alao-Akala. An Oyo State High Court has issued an order restraining his widow, Oluwakemi, and other administrators from selling or disposing of any properties belonging to the late politician. The order covers assets across Nigeria, the UK, and the USA. The case was initiated by the late governor’s eldest daughter, who is seeking to ensure the “proper administration and protection of the estate for all legal beneficiaries.”
Sunday Morning Market Watch:
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Exchange Rate: The Naira remains relatively stable on the parallel market this morning, with P2P rates hovering around ₦1,357 per Dollar.
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Travel Advisory: Commuters in Lagos are advised of increased security presence around Victoria Island and Ikoyi due to the heavy influx of governors and federal officials for today’s meetings.
