IMO BREAKING NEWS BLOG

President Bola Tinubu, represented by Vice President Kashim Shettima, laid the foundation for FirstBank Group’s new eco-friendly headquarters in Eko Atlantic City on Wednesday. The 40-story building, set to be Nigeria’s tallest, symbolizes the country’s economic ambition and progress.

Shettima praised FirstBank’s 130-year legacy in financial services and its role in Nigeria’s economic growth. He reaffirmed the government's commitment to fostering investments and public-private partnerships. Lagos State Governor Babajide Sanwo-Olu presented the bank with a certificate of approval to commence construction immediately.

FirstBank CEO Olusegun Alebiosu highlighted the project’s significance in driving financial innovation and digital transformation. FirstHoldCo Chairman Femi Otedola expressed gratitude to stakeholders and reiterated the bank’s commitment to technological advancement and financial inclusion.

The event was attended by top government officials, business leaders, and financial industry stakeholders, underscoring the project’s importance in Nigeria’s economic landscape. 

The Presidency has introduced new guidelines for the quarterly Stakeholder and Citizens Engagement Meetings, reinforcing the Federal Government’s commitment to transparency, inclusivity, and citizen participation in governance.

The Central Delivery Coordination Unit (CDCU), under the Office of the Special Adviser to the President on Policy and Coordination, announced that ministries must hold at least one engagement meeting per quarter. These sessions, led by ministers alongside permanent secretaries and top officials, aim to bridge the gap between the government and citizens, ensuring direct feedback informs policy adjustments.

The meetings must involve civil society organizations, professional groups, the media, and ordinary citizens. The Ministry of Information and National Orientation is tasked with coordinating media participation to maximize public awareness.

The Presidency emphasized that casual ministerial public appearances, such as media interviews or investor visits, will not count as stakeholder engagements. Ministries must provide documented evidence of compliance, including invitations, attendance lists, presentations, and reports on feedback implementation.

With these measures, the government seeks to enhance policy communication and ensure governance remains citizen-driven. 

Nigeria is pumping 70,000 barrels per day above its OPEC+ target, according to a survey by Reuters. According to the survey, Organization of the Petroleum Exporting Countries oil output rose in February, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider OPEC+ group.

The OPEC pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on Wednesday, with Iran and Nigeria posting the largest gains. OPEC+, which includes OPEC plus Russia and other allies, is keeping production cuts in place through March due to expectations of limited demand and rising output outside the group.

But on Monday, it decided to stick with its plan to start raising output in April.

OPEC’s biggest rise, of 80,000 bpd, came from Iran, the survey found, with output of 3.30 million bpd. This matched September’s figure which was the highest since 2018, according to Reuters surveys. Iranian oil exports recovered during former U.S. President Joe Biden’s term, despite U.S. sanctions. Under his successor Donald Trump the U.S. is renewing efforts to cut them to zero. The second-largest gain in output came from Nigeria where exports rose and domestic usage increased at the Dangote refinery. Nigeria is pumping 70,000 bpd above its OPEC+ target.

Output in OPEC’s two biggest producers, Saudi Arabia and Iraq, edged lower and higher respectively, the survey found. Both nations are pumping less than their OPEC+ targets. Output in the United Arab Emirates was slightly above its target. While the survey and January data provided by OPEC’s secondary sources show the UAE and Iraq are pumping close to the quotas, other estimates, such as those of the International Energy Agency, suggest they are pumping significantly more. 

There were no significant declines in output last month, the survey found.

The Federal Government has signaled plans to reduce Nigeria’s 256 custodial facilities, citing underutilization and the need for better management. Minister of Interior, Dr. Olubunmi Tunji-Ojo, revealed this during a public hearing on alleged corruption and human rights violations within the Nigerian Correctional Service.

Tunji-Ojo noted that some prisons operate at only 30-40% capacity while others are overcrowded. He suggested redistributing inmates convicted of federal offenses to balance the population and ease congestion.

Emphasizing the need for humane treatment, the minister warned against abuse of inmates and called for psychological evaluations for correctional officers. He stressed that incarceration should focus on rehabilitation, not condemnation, urging reforms to uphold human dignity within the system. 

The Rivers State Independent Electoral Commission (RSIEC) has scheduled fresh Local Government Council Elections for August 9, 2025.

RSIEC Chairman, retired Justice Adolphus Enebeli, announced the date on Wednesday during a stakeholders’ meeting and the official unveiling of the 2025 Local Government Elections timetable and guidelines at the commission’s headquarters on Aba Road, Port Harcourt.

Justice Enebeli assured stakeholders of RSIEC’s commitment to conducting a free, fair, and credible election, urging political parties to strictly adhere to the established guidelines. 

An Abeokuta Magistrate’s Court has postponed the case against popular musician Habeeb Okikiola, also known as Portable, until March 26 to allow for the merging of his charges with those of his workers.

During Wednesday’s hearing, the prosecution argued that conducting separate trials for Portable and his workers would be inefficient.

Senior State Counsel, Mr. Timileyin Oredein, informed the court that the musician’s case had a related matter involving his workers, which should be merged before trial proceedings begin.

Oredein recalled that Portable and nine of his workers had been previously arraigned on February 6 on similar charges and urged the court to allow time for the consolidation and substitution of the charges.

Portable and his workers are facing a five-count charge, including conspiracy, assault, unlawful obstruction while armed with cutlasses and a gun, and conduct likely to breach public peace. They are also accused of assaulting three officials from the Ogun State Ministry of Physical Planning and Urban Development.