News
BREAKING: Tinubu Directs EFCC To Vacate Order Freezing Osun Government Account

President Bola Tinubu has reportedly directed the Economic and Financial Crimes Commission (EFCC) to withdraw its directive restricting access to Osun State Government’s account, following the controversy surrounding the account freeze.
The development comes after the EFCC placed a Post-No-Debit (PND) restriction on an Osun State Government statutory allocation account domiciled with First Bank, preventing withdrawals from the account as part of an ongoing investigation.
The action sparked a political uproar after Osun State Governor, Ademola Adeleke, accused the anti-graft agency of attempting to cripple government operations ahead of the state’s governorship election. The governor argued that freezing a state government account lacked legal justification and could affect the payment of salaries and other government obligations.
Sources familiar with the matter said President Tinubu’s intervention was aimed at resolving the dispute and preventing further escalation between the federal agency and the Osun State Government. The EFCC had earlier maintained that the restriction was connected to an ongoing investigation and that several government officials had been invited in connection with the probe.
The account restriction had heightened political tension in Osun, coming shortly before the state’s governorship election, with opposition figures and observers questioning the timing of the action.
As of the time of this report, further details on the formal communication between the Presidency and the EFCC, including whether the restriction has been officially lifted, are still awaited.

News
Power Minister Reveals Reasons for Recent Nationwide Blackouts, Gives 72-Hour Timeline

Nigeria’s Minister of Power, Joseph Tegbe, has attributed the recent decline in electricity supply across several parts of the country to maintenance work at power plants, gas supply constraints and damage to critical transmission infrastructure.
Tegbe explained that the challenges had reduced the amount of electricity available on the national grid, forcing operators to introduce load shedding in some areas to manage the shortfall.
In a statement shared on his social media platforms on Friday, November 6, the minister acknowledged the difficulties the outages had caused households and businesses in affected locations, including Lagos and the Federal Capital Territory.
He identified planned maintenance at Egbin Power Station in Lagos, one of Nigeria’s major thermal power plants, as a significant factor behind the reduction in electricity generation. Gas supply difficulties affecting other thermal power stations had further worsened the situation.
The minister also disclosed that the sabotage of key transmission lines had limited the use of alternative routes for delivering electricity to some locations, particularly Lagos.
According to him, the government is working with relevant power sector operators to restore affected generating units in phases, improve gas supply and accelerate repairs to damaged infrastructure.
Tegbe expressed optimism that the first affected generating units would return to service within 48 to 72 hours, adding that electricity supply was expected to improve gradually as the interventions progressed.
The outages have affected electricity consumers in several parts of the country, with residents and businesses facing prolonged periods without public power supply. The situation has increased reliance on generators, inverters and solar systems, adding to operating costs amid elevated fuel prices.
Meanwhile, the disruptions have triggered a disagreement between the Transmission Company of Nigeria (TCN) and Ikeja Electric over the causes of recent interruptions recorded on some electricity feeders.
While Ikeja Electric had attributed outages recorded on November 3 and 4 to grid instability, TCN disputed the explanation, blaming inadequate gas supply to thermal power stations and reduced hydroelectric generation for the decline in available electricity.
TCN also said most of the interruptions affecting Ikeja Electric’s feeders were linked to load shedding caused by low generation, while others resulted from distribution network issues, maintenance and transmission limitations.
The minister’s assurance comes amid renewed concerns over the reliability of Nigeria’s electricity supply and the persistent challenges facing the power sector.
News
Nigerian Navy Deploys US-Trained Marines to Borno for Anti-Terrorism Operations

The Nigerian Navy has deployed newly trained Marine personnel to the Northeast to strengthen ongoing military operations against terrorist groups, particularly around the Baga axis of Borno State.
The Chief of Defence Staff (CDS), General Olufemi Oluyede, disclosed this while speaking with journalists on the sidelines of the Chief of Naval Staff’s Retreat at the Naval Headquarters in Abuja.
According to Oluyede, the specialised naval personnel received training with support from the United States and have already been integrated into operations in the region. He said the Marines were working alongside troops of the Nigerian Army and the Nigerian Air Force to contain terrorist activities.
The CDS expressed satisfaction with the performance of the newly deployed personnel, describing their collaboration with other military services as encouraging. He also praised their contribution to efforts aimed at disrupting insurgent activities around Baga.
Oluyede urged Nigerians to support the Armed Forces by providing credible and timely intelligence on suspicious activities in their communities. He stressed that public cooperation remained important to identifying threats and preventing attacks.
The deployment comes as the military intensifies joint operations across the Lake Chad Basin under Operation Hadin Kai, involving land, air and maritime forces. Recent operations in the area have targeted suspected terrorist positions and enclaves in parts of Borno State.
The Nigerian Navy established its Marine unit to strengthen its operational capacity across maritime and land environments. The pioneer group, known as the “Bushmen,” comprised 328 personnel who completed six months of intensive training supported by the US Special Forces before their induction in February 2026.
News
Petrol Price May Rise to N1,411 Per Litre in November as Freight Costs Increase

The price of petrol in Lagos could rise to N1,411 per litre in November 2026 if current freight charges, insurance premiums and other import-related costs remain unchanged, an energy analyst has projected.
Kelvin Emmanuel, Managing Partner of The Energy Consulting Practice, made the projection while analysing the factors influencing the cost of petrol deliveries into Nigeria.
According to him, the rising cost of transporting physical petroleum cargoes, alongside insurance premiums and the difference between dated Brent crude prices and futures contracts, has increased the actual cost of supplying petrol.
Emmanuel explained that physical cargo deliveries had become approximately $30 more expensive than futures contract prices, putting additional pressure on the domestic petroleum market.
Breaking down his November estimate, the analyst calculated the landing cost using a crude oil delivery cost of $145.60, alongside $1.21 in levies and tariffs payable to the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Ports Authority (NPA).
He arrived at a combined landing cost of $146.81 before applying the refinery premium of $80 per metric tonne.
After incorporating the exchange rate and other expenses, Emmanuel estimated the ex-gate refinery price at approximately N1,376 per litre. Adding N35 for trucking and related charges brought the projected Lagos pump price to N1,411 per litre.
He further explained that Dangote Petroleum Refinery’s pricing was influenced by import parity because approximately 40 per cent of its feedstock was sourced internationally.
The analyst also noted that domestic crude supplies under the Domestic Crude Supply Obligation attracted freight charges of between $9 and $12 per barrel, in addition to premiums paid to third-party traders.
However, some petroleum marketers have questioned the projection, describing the possibility of another increase as speculative.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, dismissed the forecast, arguing that crude oil prices had not recorded a further increase and that marketers were not planning to adjust their pump prices at the time.
He added that petrol was already selling for around N1,400 per litre in some parts of the country.
Similarly, Joseph Obele, National Publicity Secretary of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), expressed doubts about another increase, citing indications that tensions in the Middle East were easing and crude oil prices were declining.
Another independent petroleum marketer, Isa Alheri, however, acknowledged that petrol prices could exceed N1,400 per litre depending on developments in the international market, exchange rates, freight and insurance costs.
Nigeria operates a deregulated downstream petroleum market, where prices are influenced by international crude oil prices, foreign exchange rates, refining costs, transportation and other market-related expenses.
Although the N1,411 projection has raised concerns about possible additional pressure on consumers, it remains a forecast rather than an announced pump price adjustment.
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