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馃嚦馃嚞Punch Nigeria路54 mins ago
Atiku's spokesperson clarifies stance on vice-presidential selection, addresses South-East representation
Kenneth Okonkwo, spokesperson for African Democratic Congress presidential candidate Atiku Abubakar, has refuted claims that he opposed the selection of former Minister of Transportation Rotimi Amaechi as the party's vice-presidential candidate. Okonkwo clarified on Channels Television that his earlier comments regarding the vice-presidential slot were based on geopolitical considerations, specifically advocating for a candidate from the South-East, rather than personal opposition to Amaechi. He explained that limitations within the Electoral Act 2026, which requires candidates to be party members 21 days before the primary, restricted the pool of eligible candidates from the South-East. Okonkwo noted that many preferred South-East candidates were not registered party members, thereby narrowing choices. He also highlighted Amaechi's significant performance in the party primary, securing over 500 votes, which made him a key stakeholder. Okonkwo expressed that his primary concern was for party leaders to engage with South-East stakeholders to explain these constraints before making a final decision. He added that Atiku, upon returning to Nigeria after the initial announcement, initiated consultations with all parties involved.
2 min read
馃嚦馃嚞Punch Nigeria路59 mins ago
RMB leads $340 million refinancing for Indorama Fertilizer in Nigeria
Rand Merchant Bank RMB, a division of the First Rand Group, acted as Coordinator and Lead Arranger for a $340 million refinancing package for Indorama Fertilizer and Chemicals FZE Limited in Nigeria. This medium-term debt financing, fully underwritten by Development Financial Institutions and international commercial banks, aims to provide a more competitive funding solution for Indorama's brownfield development. Indorama FZE achieved 2.7 million Metric Tonnes in urea production in 2025, with 103% capacity utilization. Chidi Iwuchukwu, Executive Director and Head Investment Banking RMB Nigeria, stated that this financing demonstrates RMB's commitment to supporting private sector investment in Nigeria's heavy industry manufacturing segment and non-oil export growth. Indorama FZE is Nigeria's largest non-oil exporter, holding over 18% of non-oil exports in 2024, and contributes significantly to domestic food production with a 75% market share in Nigeria. Following its Line 3 commissioning in June 2026, Indorama is expected to become the world's largest single-site urea producer. Enyinna Anumudu, Senior Dealmaker and Head Infrastructure Finance Nigeria, noted that this financing supports the long-term competitiveness of the Nigerian private sector in meeting fertilizer demand and promoting food sufficiency.
馃嚦馃嚞Punch Nigeria路1 hour ago
Federal High Court awards N200m to widow of truck driver killed by police in Osun State
The Federal High Court in Abuja has awarded N200 million in damages to Balkisu Babai, the widow of truck driver Kabiru Babai, who was unlawfully killed by a police sergeant in Osun State in 2021. Justice Peter Lifu ruled that the fatal shooting of Babai by Sergeant Moses Samuel violated his fundamental right to life. The court directed the Inspector-General of Police and the Commissioner of Police, Osun State Command, to immediately begin the prosecution of Sergeant Samuel. Balkisu Babai had filed a fundamental rights enforcement suit seeking a declaration that her husband's killing was unlawful, an order for the officer's prosecution, and N2 billion in compensation. Court documents indicate that Babai was repairing a truck when police officers arrived. After an officer shot the co-driver, Babai emerged from under the truck and was allegedly beaten, struck, and shot in the chest by Sergeant Samuel, dying at the scene. The court declared the killing unconstitutional and awarded N200 million against the Inspector-General of Police, the Commissioner of Police, Osun State Command, and Sergeant Samuel. However, the court declined to compel the Attorney-General of the Federation to institute criminal proceedings against the sergeant.