IMO BREAKING NEWS BLOG

The Nigeria Customs Service (NCS) has confiscated a substantial quantity of smuggled petroleum in the first month of 2025. During a series of operations across border towns in Kwara State, customs officials seized 800 jerry cans of 25 litres each, along with a truck carrying 33,000 litres of petrol. The total estimated value of the seized fuel stands at N53 million.

Comptroller General of Customs, Bashir Adeniyi, revealed this during a familiarization tour of the Kwara State command in Ilorin on February 17, 2025. He stated that the interceptions, which took place between mid-January and February 15, occurred in various locations, including Baruten, Kaiama forest, Ilesha-Baruba, and Gure border towns.

“This operation is part of our intensified efforts to combat smuggling nationwide,” Adeniyi stated. “The Kwara border with Benin Republic remains a key focus area, and we are deploying senior officers to enhance surveillance and enforcement.”

Adeniyi also highlighted the achievements of Operation Whirlwind, an ongoing anti-smuggling initiative. Key outcomes include the closure of 12 illegal fuel retail outlets, the seizure of 460,000 litres of Premium Motor Spirit (PMS) intended for smuggling, and the confiscation of 23 smuggling vehicles and over 8,000 kegs of PMS. Additionally, seven suspects have been arrested, and three marketers are currently facing prosecution for regulatory violations.

Addressing the growing sophistication of fuel smuggling networks, Adeniyi pointed out that despite the removal of fuel subsidies, price differences between Nigeria and its neighboring countries continue to drive illegal fuel trade. “While petrol prices in Nigeria hover around N1,000 per litre, the cost in Benin Republic and Cameroon is much higher—approximately N1,700 and N2,000, respectively. This price gap fuels cross-border smuggling,” he explained.

The Customs chief urged stronger collaboration in tackling smuggling and warned those involved to desist or face strict legal consequences. 

A potential crisis is brewing in Ogoni, Rivers State, following the alleged exclusion of the Movement for the Survival of the Ogoni People (MOSOP) from ongoing consultations regarding oil exploration.

MOSOP President, Fegalo Nsuke, warned that neglecting the group’s input could spark unrest reminiscent of the 1990s crisis in the oil-rich region. While urging Ogoni people to maintain peace, he assured them that the issues surrounding oil resumption would be resolved for the benefit of both the people and the Federal Government.

Speaking at a meeting with MOSOP kingdom coordinators in Bori, Nsuke criticized the Federal Government’s approach, stating it contradicts President Bola Ahmed Tinubu’s directive for an inclusive process. He accused certain individuals of prioritizing personal gain over the interests of the Ogoni people and misleading the president.

“The president directed consultations with all stakeholders, but instead, some are manipulating the process for selfish reasons. We seek development, not conflict, and we trust that a democrat like Tinubu will not allow another era of Ogoni killings,” Nsuke stated.

He emphasized that MOSOP, which played a key role in the fight against Shell’s operations in Ogoni, must not be sidelined in discussions about oil resumption. He called on President Tinubu to intervene and ensure an inclusive and transparent process that restores trust among the people. 

The Nigerian Exchange Limited (NGX) has announced the listing of a N368.31 billion Federal Government of Nigeria (FGN) bond.

The 10-year bond, carrying a 22.60% coupon rate, was officially listed on Tuesday, February 18, 2025. Designated as 22.60% FGN JAN 2035, it has been assigned the symbol FG212035S1 and ISIN NGFG21203518. The bond matures on January 29, 2035, with semi-annual coupon payments scheduled for January 29 and July 29.

In addition to the new listing, NGX has also announced supplementary listings for two existing FGN bonds. The 19.30% FGN APR 2029 bond saw an increase of 78.86 million units, raising the total outstanding units to 463.16 million. Similarly, the 18.50% FGN FEB 2031 bond was increased by 153.87 million units, bringing the total to 2.11 billion outstanding units.

NGX stated that these listings aim to strengthen Nigeria’s capital market by expanding investment opportunities and boosting trading activity. The Exchange emphasized that the listing of the new FGN bond aligns with its commitment to supporting government financing initiatives while offering investors diverse options in the bond market. 

The Abia State government has announced plans to launch a major crackdown on the production and distribution of fake drugs and beverages in the state.

This follows last week’s operation by the National Agency for Food and Drug Administration and Control (NAFDAC), which sealed off buildings in Osisioma LGA used for repackaging expired drugs.

Speaking after this week’s executive council meeting chaired by Governor Alex Otti, the Commissioner for Information, Okey Kanu, issued a stern warning to those involved in the illegal trade, urging them to desist from such harmful activities, which he said were tarnishing the state’s reputation.

He emphasized that the government, with the help of security agencies, would intensify enforcement efforts to eradicate the sale of counterfeit products.

Additionally, Kanu announced that illegal traders in Umuahia would be relocated to the Okwulaga Afara relief market, where construction has already begun after compensation was paid to landowners. 

Nigerian music sensation Ayra Starr has made history by becoming the first woman in 16 years to win the Best African Music Act award at the 2025 MOBO Awards.

The star-studded event, held in Newcastle, also saw her claim the Best International Music Act award, solidifying her status as a global force in music.

Ayra Starr secured the award by surpassing fellow Nigerian nominees Asake, Tems, BNXN & Ruger, Odumodublvck, Rema, Shallipopi, as well as South African artists Tyla and Uncle Waffles.

She also triumphed over international heavyweights such as Beyoncé, Kendrick Lamar, Nicki Minaj, Megan Thee Stallion, GloRilla, and Latto.

With this achievement, Ayra Starr joins Wizkid (2017, 2021) and Burna Boy (2020, 2022) as one of the few Nigerian artists to win the MOBO Best International Act award.

Ayra Starr’s Reaction

Visibly emotional during her acceptance speech, Ayra Starr expressed gratitude to her supporters and team.

“This is my first MOBO, and I can’t believe I’m holding this right now! I’m actually shaking,” she said.

“Thank you so much to everyone who supported me—my amazing MOB-Stars, my studio partners, my label MAVIN Records, and of course, my mum. Thank you, MOBOs!”

Other Major Winners

Other notable winners at the 2025 MOBO Awards included Bashy, Darkoo, and Odeal. Darkoo also claimed the Best Female Act award.

The MOBO Awards, founded in 1996 by Kanya King, celebrate excellence in Black-origin music across genres like hip-hop, R&B, soul, reggae, jazz, gospel, and Afrobeats.

With Ayra Starr’s historic win, the MOBOs continue to highlight the global impact of African music and its rising dominance on the international stage. 

Over 450 Nigerian foreign service officers in 109 missions worldwide have gone unpaid for five to six months, leading to severe financial difficulties. The Ministry of Foreign Affairs acknowledges the issue and is working towards a resolution, with hopes that the passage of the 2025 Appropriation Act will improve funding.  

Despite increased budget allocations, embassies remain underfunded, accumulating debts and facing lawsuits from service providers. The crisis is worsened by delays in appointing ambassadors after the recall of 83 envoys in 2023.  

Experts and former diplomats call for reforms, advocating for a merit-based diplomatic system and a dual-currency budgeting approach to stabilize embassy funding. Without urgent intervention, Nigeria’s foreign missions may struggle to function effectively.