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Oando Plc is planning to raise up to $750m to finance an ambitious drilling campaign aimed at boosting its oil production by as much as 300 per cent, as the company positions to capitalise on shifting global energy dynamics.

The Chief Executive Officer of the company, Wale Tinubu, disclosed the plan in an interview with Reuters, noting that the proposed funding would support the drilling of up to 100 new wells to significantly ramp up output.

According to him, the expansion drive comes on the back of evolving geopolitical tensions that have disrupted global energy supply chains and redirected investor attention toward Africa’s oil and gas sector.

Oando currently produces an average of just over 32,000 barrels of oil equivalent per day (boepd) based on its 2025 fiscal year performance. The planned drilling programme, if successfully executed, is expected to substantially increase production capacity and strengthen the company’s market position.

Tinubu said the company is actively engaging investors to secure the required financing, emphasising that the scale of the proposed drilling campaign reflects Oando’s long-term growth strategy.

“We are pushing very, very hard towards getting the financing that we need to do an extensive drilling campaign,” he said.

He explained that global developments, including ongoing tensions in the Middle East and the aftermath of Russia’s invasion of Ukraine in 2022, have altered investment flows within the energy sector, creating fresh opportunities for African producers.

Tinubu noted that while Africa has historically been perceived as a high-risk investment destination, the current geopolitical climate is reshaping that narrative, with investors increasingly viewing the continent as relatively stable compared to other oil-producing regions.

“Africa is very, very peaceful compared to these regions,” he added.
Industry analysts say the company’s fundraising plan underscores a broader trend among African energy firms seeking to leverage supply disruptions and rising demand to attract capital and scale operations.

If successful, the $750 million capital raise would mark one of the more significant upstream investment efforts by a Nigerian independent oil company in recent years, potentially reinforcing Nigeria’s role in the global energy market amid ongoing supply realignments.

Oando Targets 300% Output Surge With $750m Drilling Expansion Plan is first published on The Whistler Newspaper

The National Association of Nigerian Students (NANS) has paid a courtesy and solidarity visit to the Chief Executive Officer of Austin Iluore Nigeria Limited, Mr. Austin Iluore, in recognition of his contributions to youth empowerment, societal development, and humanitarian service.

The delegation, led by the Zone B Coordinator, Bright Osagie Nosa, included key representatives of the association.

The Manager of Austin Iluore Nigeria Limited and other stakeholders were also present during the visit.

Speaking during the engagement, the student body said the visit was aimed at strengthening ties between Nigerian students and critical stakeholders, while appreciating Mr. Iluore for his consistent generosity and commitment to social welfare.

NANS described him as a role model whose efforts continue to inspire young people across the country.

The association noted that the visit also symbolized its solidarity with individuals and organizations committed to community development and national progress, stressing the need for collaboration in addressing challenges affecting students and society at large.

Discussions during the meeting centred on issues impacting Nigerian students, with both parties expressing readiness to explore partnerships and sustain initiatives that promote youth development.

In his remarks, Mr. Iluore appreciated the President of the Federal Republic of Nigeria for ongoing interventions in student welfare, particularly the Nigerian Education Loan Fund (NELFUND) and other supportive programmes. He noted that such initiatives inspired the formation of the City Boy Movement, aimed at complementing government efforts.

Mr. Iluore, who also serves as Financial Secretary of the City Boy Movement in the South-South region, emphasized the need for stronger collaboration with NANS leadership to advance shared goals in youth development and nation-building.

The NANS delegation, in turn, expressed gratitude for the warm reception and reaffirmed its commitment to sustaining a productive relationship with Mr. Iluore, while continuing to advocate for student welfare, unity, and national development.

The post NANS pays solidarity visit to Iluore, commends humanitarian impact appeared first on Vanguard News.

Kwara United have welcomed the trio of Issa Gata, Bright Babatunde and AbdulAfeez Musa for their matchday 34 clash against Shooting Stars.

Gata returned back to the team after attending to personal matters.

Babatunde and Musa returned from suspension due to yellow card accumulation.

The trio’s return is a big boost for the Harmony Boys who are battling with relegation.

Meanwhile, Ini Emmanuel and Segun Ogunribide are the only absentees for the game.

Kwara United will lock horns with Shooting Stars at the Lekan Salami Stadium, Adamasingba, Ibadan, on Sunday.

NPFL: Kwara United boosted by trio’s return for Shooting Stars clash

Former Jigawa State Governor, Sule Lamido, has reignited his long-standing feud with former Attorney-General of the Federation, Abubakar Malami, while also addressing criticism over his continued stay in the Peoples Democratic Party (PDP) and ongoing corruption charges.

Speaking in an interview with DCL Hausa on Saturday. Lamido recalled how Malami, during his tenure as Minister of Justice, initiated legal battle against him.

“When Abubakar Malami was Minister of Justice, he took me to court and accused me of being a thief. But today, it is clear that what he owns, I do not own. Do I have a hotel in Birnin Kudu or houses in Abuja?” Lamido said.

The former governor also dismissed calls from critics urging him to leave the PDP, questioning what he described as selective scrutiny of political associations.

“Why is there concern because I have not left the PDP? Many PDP members maintain relationships with politicians in other parties, especially the APC, and nobody questions them,” he said.

Citing examples, Lamido referenced the political movements of former Kano State governor, Ibrahim Shekarau, and meetings involving President Bola Tinubu.

“If Shekarau visits Tinubu, it is not considered news. Party leaders and governors are doing the same. Yet, when it comes to me, it becomes an issue,” he added.

Despite reaffirming his membership of the PDP, Lamido hinted at the possibility of strategic alliances.

“I am still in the PDP, but if I see another party whose ideology aligns with mine, we can form an alliance and work together,” he stated.

Addressing the long-running corruption allegations by the Economic and Financial Crimes Commission (EFCC), Lamido expressed frustration over the duration of the case.

“It has been 10 years, and I am still in court. This started during the administration of former President, Goodluck Jonathan,” he said.

Lamido further alleged that the case was politically motivated, claiming it was initiated to block his presidential ambition at the time.

“Jonathan started this allegation because he heard I wanted to contest. It was to stop me,” he alleged.

On internal divisions within the PDP, particularly regarding the influence of the Minister of the Federal Capital Territory, Nyesom Wike, Lamido maintained that his position is guided by principle rather than personal interest.

“There is self-interest, and there is truth. I stand for the truth. The question is: where does the PDP stand legally and in the eyes of the electoral body? That is where I stand, as a PDP member,” he said.

Lamido fires back at Malami, defends PDP loyalty amid corruption allegations

The Nigeria Premier Football League, NPFL, has fined Rangers N4 million for breaching its rules and regulations in the clash against Barau FC.

The Flying Antelopes were penalised for failing to provide adequate and effective security in the match which resulted in unauthorized persons gaining access to restricted areas.
‎
‎The club’s officials also exhibited acts capable of bringing the game into disrepute.

The eight-time NPFL champions failed to ensure the proper conduct of their supporters which led to the harassment of the match officials.

The Enugu club have been fined N1 million for failure to provide adequate and effective security and another N1 million for encroachment towards the field of play.

‎Rangers will also pay a fine of N1 million for unsporting behaviour of their officials, another N1 million for failure to ensure proper conduct of their supporters.

They have been ordered to play their next two home matches behind closed doors.

Rangers have within 48 hours from the date of the notice of sanctions to appeal.

NPFL fines Rangers N4m for unsporting conduct

The Federal Government has approved the implementation of the 2026 Fiscal Policy Measures, FPM, introducing sweeping changes to import tariffs aimed at stimulating growth across key sectors of the economy.

The approval was conveyed in a document dated April 1, 2026, and signed by the Minister of Finance, Wale Edun. The new policy replaces the 2023 FPM.

A major highlight of the policy is the review of import duties across 127 tariff lines, covering items such as rice, sugar, vehicles, and industrial inputs. The government said the reductions are designed to “promote and stimulate growth in critical sectors of the economy”.

Under the revised regime, the Import Adjustment Tax, IAT, on products like crude palm oil has been set at a total effective rate of 28.75 percent, down from higher rates under previous tariff structures.

In the automotive sector, tariffs on fully built passenger vehicles, including four-wheel drives and station wagons, have been reduced to 40 percent from 70 percent as stipulated in the 2015 FPM.

To ease the transition, the government granted a 90-day grace period for importers who opened Form ‘M’ before April 1, allowing them to clear goods at the old rates.

However, the policy also introduces a new excise duty regime alongside a green tax surcharge, both scheduled to take effect from July 1, 2026.

Key Tariff Adjustments:

Here is a summary of details of the gazetted list outlining revised duties on several goods:

Antimalarial medicaments: 20%

Rice (bulk or >5kg): 47.5% (from 70%)

Broken rice: 30% (from 70%)

Wheat or meslin flour: 70%

Crude palm oil: 28.75% (from 35%)

Raw cane sugar: 55% (from 70%)

Cane/beet sugar (powder/granule): 57.5% (from 70%)

Margarine (excluding liquid): 40%

Refined salt: 55% (from 70%)

Envelopes: 40% (from 50%)

Diaries/notebooks: 30% (from 40%)

Unglazed ceramic tiles: 35% (from 40%)

Glazed ceramic tiles: 46.25% (from 55%)

Ceramic cubes (<7 cm): 35% (from 40%)

Steel and Industrial Inputs

Zinc-coated steel sheets: 35% (from 45%)

Aluminum-coated steel coils: 35% (from 45%)

Electroplated steel: 35% (from 45%)

Cold-rolled steel (<0.25% carbon): 15% Hot-rolled deformed steel bars: 35% (from 45%) Steel rods (5.5mm–14mm): 35% (from 45%) Other Key Adjustments: Electrical apparatus (e.g., fuses): 10% (from 20%) Railway/tramway locomotives (SKD/CKD): 0% (from 5%) Cargo ships (>500 tonnes): 0% (from 5%)

Breathing appliances and gas masks: 0% (from 5%)

Agricultural and manufacturing machinery: 0% (from 5%)

Modular surgical operating theaters: 5% (from 20%)

Air/vacuum pumps and compressors: 5% (from 10%)

Automatic circuit breakers: 10% (from 20%)

Lamp holders: 10% (from 20%)

Green Tax Exemptions:

The policy also outlines categories exempted from the planned green tax surcharge. These include –

Vehicles below 2000cc

Mass transit buses (heading 87.02)

Electric vehicles

Locally manufactured vehicles under specified headings (87.06–87.13)

The government said the overall reforms are part of efforts to balance revenue generation with economic stimulation, while supporting local industries and easing the cost of critical imports.

Nigerian Govt announces new tariffs, cuts duty on rice, cars, drugs, sugar

By Progress Godfrey

ABUJA—The Federal Government has launched the National Vehicle Dealership Registration Framework for car dealers, in a decisive move to sanitise Nigeria’s auto market, improve traceability and unlock financing for industry players.

The initiative, unveiled by the National Automotive Design and Development Council (NADDC) in Abuja on Friday, introduces a digital system, mandating all car dealers to register and obtain a certificate renewable annually.

Delivering a keynote address, the Director General of NADDC, Oluwemimo Joseph Osanipin, said the framework marks a transition from policy design to implementation under the National Automotive Industry Development Plan 2023–2033.

Osanipin explained that the system was developed after consultations with stakeholders across Uyo, Lagos, Kano and Bauchi, where members of the Association of Motor Dealers of Nigeria (AMDON) demanded transparency, fairness and recognition of professional operators over informal players.

He noted that the registration would not only meet regulatory requirements but also position dealers to benefit from credit support, market protection and inclusion in a structured automotive industry.

“This framework is not merely an administrative milestone; it is the day we transition from planning to practice. By registering your dealership, you are doing more than fulfilling a requirement; you are positioning your business to benefit from credit support, market protection and inclusion in a structured automotive ecosystem,” he said.

The DG added that the platform would serve as a digital database that captures dealer identity, vehicle transactions and supply chains, to help authorities track stolen vehicles and protect buyers from fraudulent operators.

He further highlighted that the federal government would only patronise AMDON-certified dealers to support the Nigeria First policy and enhance Nigeria’s competitiveness under the African Continental Free Trade Area.

Osanipin further stated that registered dealers would be linked with vehicle assemblers to build nationwide partnerships for after-sales services, ensuring consistent maintenance support.

In his remarks, National President of AMDON, Prince Ajibola Adedoyin, said the registration would help address insecurity linked to untraceable vehicles, and improve access to credit for dealers through increased transparency and trust, noting that proper documentation makes financing easier.

Adedoyin encouraged consumers to patronise only certified dealers. He projected that within three to six months, most dealers should be onboarded, after which enforcement would tighten, limiting market access for non-compliant operators.

The post FG begins nationwide registration of car dealers to sanitise auto market appeared first on Vanguard News.

Senior Iranian and American delegations met Pakistani Prime Minister Shehbaz Sharif in Islamabad on Saturday to begin negotiations towards a deal to end the Middle East war unleashed six weeks earlier by US-Israeli strikes on Tehran.

With the talks under way at Islamabad’s Serena Hotel, Iranian media said the negotiating format going forward had yet to be determined, and it was not clear whether the two sides would meet face-to-face or continue to exchange messages via the Pakistanis.

But both sides had arrived at the venue when the Iranian delegation led by parliamentary speaker Mohammad Bagher Ghalibaf met Sharif, followed by US Vice President JD Vance, accompanied by White House envoy Steve Witkoff and President Donald Trump’s son-in-law Jared Kushner.

“Commending the commitment of both delegations to engage constructively, the Prime Minister expressed the hope that these talks would serve as a stepping stone toward durable peace in the region,” Sharif’s office said.

“The Prime Minister reiterated that Pakistan looks forward to continue its facilitation of both sides in making progress towards sustainable peace in the region.”

Iran has previously said that any agreement on a permanent end to fighting must include the unfreezing of sanctioned Iranian assets as well as an end to Israel’s war against Hezbollah in Lebanon, which Vance has said will not be up for discussion in Islamabad.

The warring parties still appeared to be far apart on key issues — including sanctions, Lebanon and the opening of the strategic Strait of Hormuz — and made no attempt to hide their mutual suspicion.

“Our experience in negotiating with the Americans has always been met with failure and broken promises,” Ghalibaf said shortly after landing in Pakistan, according to Iran’s state broadcaster.

– ‘Make or break’ –

Iran’s Foreign Minister Abbas Araghchi, who is also part of the delegation, told his German counterpart in a call on Saturday that “Iran enters negotiations with complete distrust due to repeated breaches of commitments and betrayals by the United States”, the Tasnim news agency reported.

Vance said before leaving the US that if the other side was “willing to negotiate in good faith, we’re certainly willing to extend the open hand”.

But “if they’re going to try to play us, then they’re going to find the negotiating team is not that receptive”, he added.

The ceasefire is already under strain, notably from Israel’s continued strikes in Lebanon, which Iran and Pakistan insist is covered under the current truce.

Prime Minister Sharif, whose country’s down-to-the-wire mediation got both sides to the negotiating table this week, said talks would not be easy.

“An even more difficult stage lies ahead,” he said, referring to efforts to permanently end fighting that began with US-Israeli strikes on Iran on February 28, sparking Iranian retaliation against Israel and across the Gulf.

“This is that stage which, in English, is called the equivalent of ‘make or break.’”

– ‘No nuclear weapon’ –

On the US side, Trump has demanded the opening of the Strait of Hormuz as a condition for the two-week ceasefire.

The strait, through which one-fifth of the world’s crude passes, has not reopened to normal traffic, however, and Trump vowed on Friday to have it open soon “with or without” Iran’s cooperation.

He added that his top priority at the Islamabad talks was to ensure the Islamic republic had “no nuclear weapon. That’s 99 percent of it.”

Security was tight in the Pakistani capital on Saturday, with a heavy police and paramilitary presence on the streets and road diversions around the “red zone” where government and diplomatic buildings are located.

Pakistan has formulated a team of experts to facilitate the two sides in negotiations on navigation, nuclear and other key matters, a diplomatic source familiar with the matter told AFP.

The negotiations will be closely watched by other key regional players, with Egypt and Turkey having helped with mediation, along with China, all of which Pakistan was still coordinating closely with for the talks, the source said.

In Tehran, a 30-year-old resident told AFP he was sceptical negotiations would be successful, describing most of what Trump says as “pure noise and nonsense.”

The post US and Iran envoys meet Pakistani PM as negotiations get under way appeared first on Vanguard News.

Nigerian streamer, Peller, has called out singer Ayra Starr for asking Jarvis if she has a boyfriend.

This comes a few hours after Jarvis’ Livestream with Ayra Starr on Tiktok.

During the interactive section, the musician asked if Jarvis has a boyfriend.

Peller who was angered by the question, called Ayra out in a viral video sighted by DAILY POST on Saturday, claiming that the singer “belittled” him.

The streamer who found the question disrespectful, accused Ayra of pretending not to know him despite his popularity.

He asked, “How could Ayra Starr ask Jarvis if Jarvis has a boyfriend. Is she trying to say she doesn’t know me? Would she like me to also ask if she’s a singer?

“She really belittled me. How could she ask Jarvis if she has a boyfriend. Did Ayra want to say she did not see when I took Jarvis on a vacation to South Africa or when I bought GLE for her?”

Peller drags Ayra Starr for asking Jarvis if she has boyfriend

By Olasunkanmi Akoni

A leading 2027 Lagos governorship aspirant, under the All Progressives Congress, APC, Olajide Adediran, has dismissed speculations making the round that a preferred candidate has already been endorsed by party leaders and chieftains ahead of the primary slated for next month.

In a statement issued on Saturday, through his spokesman, Gbenga Ogunleye, Jandor expressed his commitment to process, principle and party supremacy.

The statement read in part, “We note the ongoing speculations alleging that a preferred aspirant has been anointed for our party, the APC ahead of the 2027 Lagos governorship election.

“We restate, in line with the official position of the Lagos State APC leadership as communicated by the State Chairman, that no aspirant has been anointed and that all aspirants will participate in a credible primary election.”

He said he is firmly committed to the process and is preparing accordingly, engaging party members and strengthening his grassroots structures, while he remained guided by party discipline. “Should our leader and the leadership resolve to adopt a consensus candidacy, JANDOR will fully align with that decision, irrespective of who emerges.”

This is a position anchored on his readiness to compete, and a willingness to submit to the collective will of the party.

Adediran, therefore, urged party members not to mistake a campaign by an individual or a political group for their choice aspirant as the party position or that of the Leader.

“When the party and our Leader speak, I am sure no one will do otherwise,” he stated.

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