Headlines
Failure of Oil, Gas Sector Reason for Poverty, Hunger in the Country, Says Agbakoba, Threatens to Sue FG
A former President of the Nigerian Bar Association (NBA), Olisa Agbakoba (SAN), has threatened to drag the Federal Government to court to determine the constitutionality of continuing outsourcing of oil and gas management to International Oil Companies (IOCs) through Joint Ventures (JVs) and Production Sharing Contracts (PSCs).
Agbakoba also called for a complete overhaul of Nigeria’s oil and gas sector, insisting that the current system has ‘completely failed’ and is responsible for poverty and hunger across the country.
The human rights lawyers, who stated this at a press conference in Lagos, argued that the current Contract Oil model directly contradicts Sections 16 and 44(3) of the Nigerian Constitution.
He maintained that the law mandates the government to manage Nigeria’s natural resources in a manner that secures the maximum welfare, freedom, and happiness of every citizen and that the current arrangement, which primarily benefits IOCs, falls far short of this constitutional requirement.
Agbakoba also stated that it is a fundamental principle of administrative law that statutory bodies, including the government, can not delegate their core functions without express legal authorisation. Without such express authority, the current arrangements may be ultra vires and potentially void.
The lawyer said, “These responsibilities, fundamental to the nation’s sovereignty and economic well-being, may be inherently governmental and thus incapable of being lawfully delegated to private entities. Furthermore, it is dubious whether the federal government has the authority to delegate the inherent rights of Nigerians to their natural resources to third parties.
“While the federal government is reluctant to consider shared or joint ownership with state governments, who represent Nigerians more directly, it sees no issue in delegating, outsourcing, and sharing joint ownership with IOCs. This inconsistency raises questions about the government’s interpretation and application of its constitutional mandate.
“We will approach the court to declare that the PIA, the current legal framework for the continued outsourcing or unlawful delegation of the management of Nigeria’s oil and gas to IOCs, is unconstitutional.
“The dominance of IOCs in the sector has historically limited opportunities for developing local content and building domestic capacity in the oil and gas industry,” he said.
Agbakoba also said that the current system of JVs and PSCs, which was initially justified by a lack of funds, now appears to violate the inherent rights of Nigerians over their natural resources.
He stated that if the country adopts a “Development Oil” approach, it can reclaim control over its vital oil and gas sector and transform it into a powerful engine for national development.
The senior lawyer insisted that this paradigm shift requires bold policy changes, including securitising oil reserves through a Sovereign Oil Fund, allowing Nigeria to finance its oil and gas operations.
He said, “The current exit of IOCs presents both a challenge and an opportunity for new Nigerian actors in the oil and gas sector. In collaboration with the federal government, these actors must rise to the occasion and build a new strategy for oil and gas exploration based on development oil principles.
“By aligning the oil and gas sector with broader national interests and constitutional obligations, Nigeria can create a more diversified, resilient, and prosperous economy that truly benefits all its citizens. This approach not only promises economic growth but also reaffirms Nigeria’s sovereignty over its natural resources, ensuring that they are managed for the welfare and security of all Nigerians, as mandated by the constitution,” Agbakoba stated.
Leadership
The Confederation of African Football (CAF) has awarded three points, and three goals to Nigeria for the missed Libya game.
The development comes after the CAF president, Patrice Motsepe, said a thorough probe was ongoing following the recent controversy surrounding Nigeria’s Africa Cup of Nations qualifier against Libya.
Motsepe had maintained that the continental body would not tolerate any lack of sportsmanship and unfair treatment in African football.
However, in the latest development on Saturday, a statement signed by CAF’s Chairperson of CAF Disciplinary Board, Ousmane Kane said the decision to award Nigeria the points was taken after findings by the disciplinary committee it set up to look into the matter, found Libya guilty of the inhumane treatment meted out to the Nigerian senior men’s football team.
The 5-man disciplinary committee consist of; Mr. Ousmane Kane (Senegal) Chairperson, Ms. Njeri Onyango (Kenya) Vice-Chairperson, Mr. Felix Golbassia (Tchad) Member, Mr. Patrick Shale (Lesotho) Member, and Mr. Norman Arendse (South Africa) Member.
CAF said the disciplinary board decided that; “The Libya Football Federation is found to have breached Article 31 of the African, Cup of Nations Regulations as well as Articles 82 and 151 of the CAF Disciplinary Code, and that the match No.87 Libya v. Nigeria of the CAF African Cup of Nations Qualifiers 2025 (scheduled to be played on 15 October 2024 in Benghazi) is declared lost by forfeit by Libya (by a score of 3-0).”
Following the conclusion of the board’s findings, CAF also ordered the Libya Football Federation to pay a fine of USD 50,000 within 60 days of notification of the present decision.
The players and officials were stranded for hours at a Libyan airport and denied access to food and the internet as they prepared to honour their 2025 Africa Cup of Nations (AFCON) qualifier with the Mediterranean Knights.
It took diplomatic efforts and social media callouts for the team to be cleared to finally leave Libya.
With the CAF decision, Nigeria is now poised to qualify for the 2025 Africa Cup of Nations, with two matches to spare.
The Eagles are now on 10 points from four matches, four points better than second-placed Benin Republic, while Rwanda have five points. Bottom-placed Libya have only one point and are out of the running for qualification.
Victory or draw against the Cheetahs of Benin Republic in Abidjan on Thursday, 14th November (a Matchday 5 encounter) will land the Super Eagles a ticket to the finals in Morocco, December 2025/January 2026.
President Bola Tinubu has dismissed five ministers from his cabinet and appointed seven new ones as part of a cabinet reshuffle.
The President re-assigned 10 ministers to new portfolios and nominated seven new ministers for Senate confirmation.
He dismissed Uju-Ken Ohanenye as Minister of Women Affairs, Lola Ade-John as Minister of Tourism, Tahir Mamman as Minister of Education, Abdullahi Gwarzo as Minister of State for Housing and Urban Development, and Jamila Ibrahim as Minister of Youth Development.
Among the nominees, Tinubu selected Bianca Odumegwu-Ojukwu as Minister of State for Foreign Affairs and Nentawe Yilwatda as Minister of Humanitarian Affairs and Poverty Reduction, marking the official end of suspended Betta Edu’s tenure.
Other nominees include Maigari Dingyadi for Minister of Labour and Employment, Jumoke Oduwole for Minister of Industry, Idi Maiha for the newly established Ministry of Livestock Development, Yusuf Ata for Minister of State for Housing and Urban Development, and Suwaiba Ahmad for Minister of State for Education.
“The appointment of Shehu Dikko as Chairman of the National Sports Commission.
“The appointment of Sunday Akin Dare as Special Adviser to the President on Public Communication and Orientation working from the Ministry of Information and National Orientation,” the President said.
The President appreciated the outgoing members of the Federal Executive Council for their service to the nation while wishing them the best in their future endeavours.
He then charged the newly appointed ministers and their reassigned colleagues to see their appointment as a call to serve the nation.
Source: Nairametrics
The Federal Government on Wednesday withdrew the money laundering charges preferred against Binance Holdings Limited executive, Tigran Gambaryan.
Binance, its U.S. head of financial crime compliance, Gambaryan, and the exchange British-Kenyan regional manager for Africa, Nadeem Anjarwalla, were facing money laundering charges to the tune of $35 million brought against them by the Economic and Financial Crimes Commission.
Gambaryan and Anjarwalla were initially both detained in the custody of the office of the National Security Adviser.
Anjarwalla, however, fled lawful custody on March 22, 2024, while his counterpart, Gambaryan, was arraigned in April.
Following his arraignment, the court ordered his remand to Kuje Correctional Facility.
