Nigeria’s oil industry is facing renewed uncertainty after concerns emerged over the financial implications of President Bola Tinubu’s latest directive on oil revenue management.
At the same time, political tensions are rising as the Peoples Democratic Party (PDP) heads to court to challenge the outcome of the Federal Capital Territory (FCT) Area Council elections, where the All Progressives Congress (APC) secured a sweeping victory.
Here are the top stories making waves this morning:
1. Tinubu’s Oil Directive Raises Concerns at NNPCL, NUPRC
The Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are reportedly assessing the potential financial strain that could arise from President Bola Tinubu’s recent order affecting oil revenue flows.
Industry stakeholders warn that the directive could significantly reshape how funds are distributed and managed within the oil sector, potentially testing the financial stability of key institutions.
2. PDP Heads to Court Over FCT Council Polls
The Peoples Democratic Party (PDP) has assembled a legal team to challenge the results of the FCT Area Council elections after the All Progressives Congress (APC) won five out of six chairmanship seats.
The opposition party alleges irregularities in the conduct of the polls and is seeking judicial intervention to overturn or review the declared outcomes.
3. INEC Commissioners Face Jail Risk Under New Electoral Rules
Under new electoral provisions, Resident Electoral Commissioners of the Independent National Electoral Commission (INEC) could face up to two years’ imprisonment if found guilty of election-related misconduct.
The tougher penalties are part of broader reforms aimed at strengthening accountability and discouraging manipulation within Nigeria’s electoral system.
4. Political Manoeuvring Intensifies in Bayelsa
Behind-the-scenes consultations are underway in Bayelsa State as political stakeholders weigh options for the emergence of the next deputy governor.
Party leaders and influential figures are said to be engaged in strategic calculations as the selection process gathers pace.
Read Also;
APC Dominates FCT Area Council Polls, Wins Five of Six Seats
5. PENGASSAN Urges Sale of Majority Stake in Refineries
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to sell a 51 per cent stake in the country’s refineries.
The union argues that partial privatisation would improve efficiency, attract investment, and reduce the financial burden on the government.
Together, these developments highlight mounting economic and political pressures, from oil sector reforms to post-election legal battles and state-level power negotiations.
