Port Harcourt refinery stays offline, but diesel evacuation continues — regulator

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December 28, 2025

Photo Credit: The Punch
2025-12-28 09:00:00

In an update published by Punch, Nigeria’s downstream regulator said the Port Harcourt refinery remains shut but diesel (automotive gas oil) has continued entering the market via evacuations.

The report attributes the ongoing diesel movement to regulator data, even as the facility remains under maintenance following a shutdown announced earlier in 2025.

A DailyReport.ng write‑up stated “NMDPRA confirms 349,000 litres of AGO supplied daily,” while TheCable previously reported NNPC would shut the Port Harcourt Refining Company “for maintenance,” underscoring the continued stop‑start nature of domestic refining.

Echotitbits take: This is a trust and transparency problem. If product evacuation is from existing stock, the public needs clear reporting on inventory, throughput, and maintenance milestones. Watch for NMDPRA’s daily/weekly supply dashboards and NNPC’s turnaround timelines.

Source: The Punch — December 28, 2025 (https://punchng.com/port-harcourt-refinery-supplies-diesel-while-shut-nmdpra/)

The Punch 2025-12-28

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States and LGs cut bank exposure by ₦547.5bn as FAAC inflows rise

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B.O.B Echoload

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December 28, 2025

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Photo Credit: The Punch
2025-12-28 09:00:00

Figures cited by Saturday PUNCH show states and local government councils reduced outstanding bank borrowings by about ₦547.5bn over one year, amid stronger statutory inflows.

The report links the drop in bank claims to higher Federation Account distributions and the higher cost of borrowing under a tighter interest‑rate environment.

TheStar.ng reported that “States and Local Government councils cut their outstanding bank loans by about N547.5bn in one year,” while TheConclaveNg cited CBN bulletin data that claims fell from “N2.68tn… to N2.13tn” by June 2025.

Echotitbits take: Lower bank debt is good—but what replaces it matters. If states swap bank loans for short‑term contractor arrears or opaque “capital receipts,” the fiscal stress simply moves. Watch state debt transparency, DMO/CBN data and wage/contract arrears.

Source: The Punch — December 27, 2025 (https://punchng.com/states-lgs-repay-n547-5bn-bank-debts/)

The Punch 2025-12-27

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2026 state budgets swell, but FAAC dependence and borrowing remain the backbone

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B.O.B Echoload

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December 28, 2025

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Photo Credit: The Punch
2025-12-28 09:00:00

According to Sunday PUNCH, many state governments are entering 2026 with big spending plans but still lean heavily on federal allocations, loans and other non‑recurring inflows to balance their books.

The report points to weak internally generated revenue (IGR) in several states and warns that capital projects may be squeezed first when revenue assumptions fall short.

Analysts quoted in the report argue that over‑reliance on volatile transfers and debt can discourage local revenue innovation and exposes budgets to national shocks such as oil price swings.

TheCable’s newspaper review also noted that “state governments are banking on federal allocations and loans to fund their 2026 budgets,” reinforcing the recurring pattern across multiple state appropriation proposals.

Echotitbits take: The big question is execution—how much of the capital vote survives mid‑year reality? Watch Q1 and Q2 FAAC inflows, new bond/loan issuances, and whether states publish project‑level dashboards to prove capital delivery.

Source: The Punch — December 28, 2025 (https://punchng.com/govs-bank-on-faac-loans-to-fund-2026-budgets/)

The Punch 2025-12-28

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Tax reform countdown: Manufacturers upbeat as Labour and SMEs warn of backlash

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B.O.B Echoload

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December 28, 2025

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Photo Credit: The Punch
2025-12-28 09:00:00

Reporting by Punch indicates Nigeria’s new tax reform laws are still slated to take effect on January 1, 2026, despite widening pushback from some labour and SME stakeholders.

Industry groups say the package could simplify compliance and reduce distortions, while critics argue implementation timing and transparency concerns around the final gazetted text could trigger new disputes.

Government-linked reform advocates have framed the rollout as a shift toward fairness—targeting relief for most workers and smaller firms—while signalling willingness to fix drafting or referencing issues through the legislature without shifting the start date.

Channels Television quoted committee chairman Taiwo Oyedele saying, “The implication of not implementing the new tax laws by January 1, 2026, is that the bottom 98 per cent of workers remain overtaxed.” AIT Live also reported the government “has affirmed that there will be no reversal in the planned implementation… scheduled to take effect on January 1, 2026.”

Echotitbits take: The political test is whether implementation becomes a trust-building exercise (clear gazette, plain-language guidance, phased enforcement) or another elite policy fight. Watch the National Assembly’s re‑gazetting process and how quickly tax authorities publish compliance guides for SMEs.

Source: The Punch — December 28, 2025 (https://punchng.com/four-days-to-tax-reform-manufacturers-excited-labour-smes-threaten-revolt/)

The Punch 2025-12-28

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Five killed in Maiduguri mosque blast as officials warn of revived suicide-attack risk

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B.O.B Echoload

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December 27, 2025

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Photo Credit: Reuters
2025-12-27 07:09:00

In an update published by Reuters, an explosion during prayers at a mosque in Maiduguri killed worshippers and injured others, with authorities treating the incident as a likely suicide bombing as investigations continue.

The blast reinforces a troubling security pattern: even as the frequency of suicide attacks had reduced compared with earlier years, insurgent networks appear capable of reactivating tactics when pressure eases.

Authorities urged calm and vigilance while bomb disposal and investigative units worked the area, and leaders renewed calls for tighter protection around worship centres during festive periods.

The incident adds urgency to hospital readiness, trauma support, and intelligence coordination in Borno—given Maiduguri’s long-standing position as a focal point of the insurgency.

AP reported officials found “fragments of a suicide vest” at the scene, while Nigeria’s State House said the federal government “remains resolute in its duty to protect lives and property” following the bombing.

Echotitbits take:
The immediate story is casualties; the deeper story is capability. Watch for who claims responsibility, whether arrests follow, and whether security upgrades at mosques and markets become visible and sustained beyond a short post-attack surge.

Source: Reuters — December 25, 2025 (https://www.reuters.com/world/africa/five-killed-nigeria-mosque-attack-police-say-2025-12-25/)
Reuters December 25, 2025

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Russia unleashes huge drone-and-missile barrage on Ukraine as diplomacy accelerates

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B.O.B Echoload

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December 27, 2025

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Photo Credit: Reuters
2025-12-27 07:08:00

According to Reuters, Russia launched a large-scale drone and missile assault on Ukraine just before Zelensky’s expected meeting with Trump, striking energy and civilian infrastructure as temperatures dropped.

The report said the attack involved waves of drones and missiles, intensifying pressure on Kyiv and sending a signal about Moscow’s readiness to escalate even as peace discussions gather pace.

Ukrainian officials linked the barrage to negotiation manoeuvres, arguing that infrastructure targeting is used to shape political outcomes by raising humanitarian costs.

With diplomacy and warfare now running in parallel, the risk is that any peace framework becomes hostage to real-time battlefield escalations.

The Washington Post said the assault left “a third of the capital without heating,” while The Guardian reported Zelensky is moving into talks insisting the plan is “90% ready,” but with core territorial issues unresolved.

Echotitbits take:
This is coercive bargaining—strike hard, then negotiate from a position of fear. Watch whether talks produce immediate de-escalation steps (like grid-protection commitments) or whether infrastructure attacks continue to force concessions.

Source: Reuters — December 27, 2025 (https://www.reuters.com/world/europe/russian-drones-missiles-pound-ukraine-before-zelenskiy-trump-meeting-2025-12-27/)
Reuters December 27, 2025

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Russia attacks Zelensky’s position ahead of Trump talks as Ukraine plan tightens

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B.O.B Echoload

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December 27, 2025

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Photo Credit: Vanguard
2025-12-27 07:07:00

Reporting by Vanguard suggests Russia is pushing back hard on Kyiv’s approach to a US-led peace framework, accusing Ukraine of trying to derail negotiations as President Volodymyr Zelensky heads into a high-stakes meeting with Donald Trump.

The emerging proposal is described as a tightened plan meant to freeze fighting around current frontlines while negotiating territory, security guarantees, and sensitive assets tied to the conflict’s endgame.

Russia’s messaging signals it wants the terms closer to what it has discussed with Washington, while Ukraine insists any freeze must come with credible guarantees and enforcement mechanisms.

The politics are moving faster than the battlefield narrative: both sides appear to be positioning for leverage just before a potentially defining diplomatic window.

Reuters quoted Russia’s Sergei Ryabkov saying, “I think that 25 December 2025 will remain in our memory as a turning point,” while The Guardian reported Zelensky described the plan as “90% ready,” but stressed unresolved issues remain.

Echotitbits take:
Deals fail when “freeze the lines” becomes “freeze the injustice.” Watch what Trump signals after meeting Zelensky—endorsement, revisions, or a pivot—and whether Russia offers verifiable ceasefire commitments to keep talks credible.

Source: Vanguard — December 26, 2025 (https://www.vanguardngr.com/2025/12/russia-lashes-out-at-zelensky-ahead-of-new-trump-meeting-on-ukraine-plan/)
Vanguard December 26, 2025

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Israel hits Hezbollah-linked sites in Lebanon as ceasefire strains deepen

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B.O.B Echoload

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December 27, 2025

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Photo Credit: The Punch
2025-12-27 07:06:00

In an update published by Punch (AFP), Israel said it carried out a new wave of strikes on Hezbollah-linked targets in Lebanon, including weapons storage locations and a training complex, despite the ceasefire framework still formally in place.

Lebanon’s media and official channels reported strikes across multiple districts, with the Israeli military framing the attacks as preventive action against infrastructure it says supports planned operations.

The development underscores the fragility of the ceasefire environment, as both sides trade accusations while Lebanon faces pressure to accelerate disarmament efforts in the south.

The security risk is regional spillover: repeated raids can trigger retaliation cycles, domestic political tension inside Lebanon, and wider diplomatic fallout.

Times of Israel reported the IDF hit a “training compound” used by Hezbollah’s “elite Radwan Force,” while Euronews said the site was used for “training operatives” and “planning attacks,” citing Israeli claims.

Echotitbits take:
The ceasefire may be alive on paper but increasingly porous in practice. Watch whether disarmament timelines hold, whether strikes shift to higher-value assets, and whether diplomacy can prevent a wider escalation loop.

Source: The Punch — December 26, 2025 (https://punchng.com/israel-attacks-hezbollah-targets-in-lebanon/)
The Punch December 26, 2025

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Agbekoya threatens ‘necessary action’ after three farmers killed in Igboho, Oyo

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B.O.B Echoload

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December 27, 2025

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Photo Credit: The Punch
2025-12-27 07:05:00

According to Saturday PUNCH, the Agbekoya Society of Nigeria warned it may take action following the killing of three farmers in Igboho, Orelope LGA of Oyo State, as public anger rises over rural insecurity in the South-West.

The report says Yoruba Nation activist Sunday Igboho raised the alarm and urged the federal government to respond decisively to what he described as worsening attacks on rural communities and farms.

Agbekoya’s statement demanded investigations, prosecution of perpetrators, enhanced security for farmers, and support for families—signalling that farm security is becoming a flashpoint issue again.

The incident adds pressure on state and federal authorities amid recurring farmer–herder violence narratives and community self-help threats.

The Guardian reported the victims were “allegedly attacked with axes, cutlasses and other dangerous weapons,” while SaharaReporters quoted Igboho: “On Sunday, three innocent people were killed in my town, Igboho.”

Echotitbits take:
When farmer groups hint at self-defence escalation, it’s a warning sign for regional stability. Watch next for arrests (or lack of), community reprisals, and whether Oyo strengthens rural patrol structures and early-warning systems.

Source: The Punch — December 27, 2025 (https://punchng.com/agbekoya-vows-action-over-oyo-farmers-killing/)
The Punch December 27, 2025

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Sanwo‑Olu unveils Eyo Monument in Onikan as Lagos pushes heritage tourism

By

B.O.B Echoload

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December 27, 2025

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Photo Credit: The Punch
2025-12-27 07:04:00

As reported by Punch, Governor Babajide Sanwo-Olu commissioned a new Eyo Monument at the John Randle Centre in Onikan, positioning it as a cultural landmark meant to strengthen Lagos’ tourism appeal and heritage branding.

The unveiling comes alongside renewed festival momentum on Lagos Island, with the state signalling that heritage assets can drive visitor traffic, local commerce, and destination marketing.

Officials describe the monument as both educational and economic—showcasing Yoruba history while also functioning as a photo-magnet attraction for residents and tourists.

The move fits Lagos’ broader strategy of converting culture into structured tourism revenue, especially through festivals, museums, and curated public art.

In a post documenting the unveiling, Sanwo‑Olu described the statue as the “tallest Eyo statue ever created,” while Travel and Tour World reported Lagos unveiled a “towering Eyo Monument” to elevate cultural tourism.

Echotitbits take:
Lagos is building a heritage-corridor playbook—art, festivals, traffic control, and media packaging. Watch next for crowd management, year-round programming, safety, and whether tourism monetisation becomes systematic rather than seasonal.

Source: The Punch — December 26, 2025 (https://punchng.com/sanwo-olu-unveils-eyo-monument-to-boost-lagos-tourism/)
The Punch December 26, 2025

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