The President of the Senate, Senator Godswill Akpabio, has expressed delight at the Supreme Court judgment which upheld Governor Monday Okpebholo as the winner of the September 21, 2024 governorship election in Edo State.

Akpabio, in a message he personally signed, described the Supreme Court verdict as a triumph of democracy and the will of the people.

He said, “What the apex court in the land has done is to affirm the will and wishes of the overwhelming majority of the people of Edo State. It shows that the election was transparent, free and fair.”

Akpabio’s position is contained in a statement issued on Friday by the Special Adviser on Media and Publicity to the Office of the President of the Senate, Eseme Eyiboh.

Eyiboh quoted the Senate President as noting that, “The declaration by the Supreme Court in favour of Senator Okpebholo against Mr Asue Ighodalo of the Peoples Democratic Party, PDP, as the legitimately and constitutionally elected governor of Edo State has proven that elections are won at the ballot and by people who have identified with the grassroots.

“This judgement has again reaffirmed the fact that democracy is at play and the people of Edo State have wholeheartedly embraced the All Progressives Congress, APC, and popularly elected their preferred choice of Senator Okpebholo as their governor.

“This milestone affirms Governor Okpebholo’s mandate and paves the way for him to continue delivering exceptional service to the good people of Edo State. He’s done well in the past seven months and I believe he will do excellently well in his four-year tenure.”

In his congratulations to the Edo State governor, Akpabio assured him of “the Senate’s support and collaboration in ensuring the state’s progress and development.”

Nigeria’s naira appreciated against the dollar at the official exchange market on Thursday, as pressure mounts on the Central Bank of Nigeria to extend the Bureau De Change, BDC, operators’ recapitalisation deadline.

Data from the Central Bank of Nigeria showed that the naira strengthened to N1,525.98 per dollar on Thursday, up from N1,531, the highest exchange rate recorded at the close of trading on Wednesday.

This indicates that the naira gained N5.02 against the dollar on a day-to-day basis.

Meanwhile, the naira remained flat at N1,550 per dollar on Thursday, the same rate as the previous day.

OSUNDAILY NG reports that while the naira has continued to fluctuate in the official market over the past four days, it has remained relatively stable in the black market.

BDC operators across the country have been struggling to comply with the apex bank’s recapitalisation policy.

The CBN has maintained that BDC operators’ recapitalisation deadline elapsed on June 3, 2025.

However, on Thursday, a group known as the Arewa Economic Forum, led by its chairman, Ibrahim Dandakata, called on the CBN to extend the deadline, citing its potential adverse impact on the Northern economy.

The President of Dangote Group, Alhaji Aliko Dangote, has stated that Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna may never function properly again, despite the reported $18 billion spent on their rehabilitation.

Speaking while hosting members of Global CEO Africa at the Dangote Petroleum Refinery, Dangote revealed that his decision to construct the 650,000-barrel-per-day facility followed the late President Umar Musa Yar’Adua’s administration’s refusal to sell the refineries to him.

According to Dangote, he and other investors had acquired the refineries in January 2007 but were compelled to return them to government ownership after a change in administration. He observed that despite significant subsequent investment, the refineries have remained inoperative.

“The refineries we bought before, which were owned by Nigeria, were producing about 22 per cent of PMS. We bought them in January 2007 but had to return them due to a change in government. The managing director at that time convinced Yar’Adua that the refineries would work,” he said.

“As of today, they have spent about $18 billion on those refineries, and they are still not working. I doubt very much if they will ever work,” he added.

Dangote likened the rehabilitation efforts to attempting to upgrade a 40-year-old car with modern technology, suggesting that even a new engine would not be compatible with the outdated framework.

Former President Olusegun Obasanjo had earlier expressed similar misgivings. In a previous interview, he asserted that the NNPC knew it was incapable of effectively operating the refineries but actively blocked private sector involvement.

Obasanjo disclosed that Dangote and other investors had paid $750 million to acquire the refineries, only for the deal to be reversed by the Yar’Adua administration.

“I told Yar’Adua the refineries would not work. I said, ‘NNPC cannot do it.’ He said, ‘NNPC said they can.’ I told him, ‘When you want to sell them again, you won’t find anyone willing to pay even $200 million as scrap.’ And that is where we are today,” Obasanjo said.

He alleged that the failure to privatise the refineries was fuelled by entrenched corruption within the NNPC, and insisted that those responsible should be held accountable.

Obasanjo further claimed that over $2 billion had been spent on the refineries in recent years, with no tangible results.

“If anyone says the refineries are working, why are they now relying on Aliko Dangote? He will make his refinery work and deliver,” he said.