Nigeria News (Standard)
Xenergi Launches Tender Offer for Premier Paints Minority Shares in Ogun State Takeover Move
Offer comes after Xenergi’s emergence as core investor, signaling major ownership shift in Nigeria’s paint industry
Offer comes after Xenergi’s emergence as core investor, signaling major ownership shift in Nigeria’s paint industry
Xenergi, the new core investor in Premier Paints Plc, has initiated a tender offer for the company’s minority shares as part of a fresh ownership restructuring in Ogun State. The move was confirmed on Wednesday, 17 June, as Xenergi seeks to consolidate its position following its recent acquisition of controlling interest in the leading Nigerian paint manufacturer.
According to details made available, Xenergi’s tender offer is targeted at shareholders holding minority stakes, with the aim of acquiring additional shares to strengthen its grip on Premier Paints’ operations. This development follows Xenergi’s earlier stake purchase that positioned it as the largest single shareholder in the company. The transaction is expected to trigger a significant change in Premier Paints’ board and management structure.
Premier Paints Plc, based in Ogun State and listed on the Nigerian Exchange Limited (NGX), has faced stiff competition from bigger players within the manufacturing sector. Industry analysts say Xenergi’s entry could signal renewed investment and possible turnaround for the company, which has struggled with market share and operational challenges over recent years.
The management of Premier Paints confirmed receipt of Xenergi’s offer in an official statement, noting that all regulatory procedures would be followed in line with NGX rules. “We assure all shareholders that their interests will be protected throughout this process,” a company representative said. Shareholders are expected to receive further communication regarding terms and timelines of the tender.
Market watchers believe Xenergi’s aggressive approach may lead to delisting or a significant reorganisation of Premier Paints, depending on acceptance levels among minority shareholders. Analysts further predict ripple effects across Nigeria’s paints and coatings sector as new capital and management expertise flow into Premier Paints through this transaction.
Nigeria News (Standard)
First Lady Oluremi Tinubu Disburses ₦100m Grant to 2,000 Benue Women, Commissions ICT Centre
Governor Alia hails Renewed Hope Initiative as newly built roads and digital centre target economic growth in North-Central state
Governor Alia hails Renewed Hope Initiative as newly built roads and digital centre target economic growth in North-Central state
First Lady Senator Oluremi Tinubu on Tuesday empowered 2,000 women petty traders in Benue State with a ₦100 million economic grant and commissioned a new ICT centre in Vandeikya Local Government Area. The interventions, carried out under the Renewed Hope Initiative (RHI), are aimed at promoting financial inclusion and digital skills for women and youths across the state.
The event, held during the First Lady’s visit to Benue, saw each beneficiary receive ₦50,000 to support their businesses and improve their livelihoods. In addition to the grant distribution, Mrs Tinubu unveiled the Lucy Zayol Aluor Community ICT Centre in Ihugh, a facility established through collaboration between RHI and the National Information Technology Development Agency (NITDA). The centre is expected to provide training in digital literacy and technology for local residents.
Addressing attendees at the commissioning, Senator Tinubu said the programme was designed to help women expand their businesses and contribute more effectively to their families and communities. “Empowering women is key to national development. This initiative will not only boost economic activities but also ensure sustainable growth among beneficiaries,” she stated during her speech.
Governor of Benue State, Rev. Fr Hyacinth Alia of the All Progressives Congress (APC), commended the First Lady for making Benue one of the selected states for the Renewed Hope Initiative’s empowerment efforts. He expressed optimism that both the grant and new ICT centre would positively impact women entrepreneurs and young people seeking opportunities in today’s economy.
As part of her visit, Mrs Tinubu also participated in the official commissioning of 10 newly completed intra-city roads in Makurdi, covering approximately 11.5 kilometres. The roads—including Shire Bakut Road dual carriageway and Abu Ken Shulua Road—were constructed under Phase I of Benue’s Urban Renewal Programme. In recognition of her contributions, Ishayaba Street was renamed after Senator Tinubu.
The Renewed Hope Initiative has rolled out similar empowerment schemes across multiple states, focusing on grants, educational support and vocational training for women, youths and vulnerable groups nationwide. The Benue programme forms part of a broader campaign to improve livelihoods, reduce poverty and expand access to economic opportunities through targeted support.
Source: https://www.pulse.ng/story/remi-tinubu-benue-women-grant-ict-centre-2026061717241397087
Nigeria News (Standard)
Minister Ekpo Orders Increased Cooking Gas Imports as Nigerians Question Reliance Despite Vast Reserves
Federal Government blames forex volatility and logistics for high LPG prices; citizens urge focus on domestic supply
Federal Government blames forex volatility and logistics for high LPG prices; citizens urge focus on domestic supply
The Federal Government has directed gas marketers to ramp up imports of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, to address supply shortages and rising prices across Nigeria. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced the move on Monday in Abuja, following widespread complaints from households struggling with higher energy costs.
Ekpo explained that recent spikes in cooking gas prices were driven by foreign exchange volatility, logistics challenges, and inadequate infrastructure within the country. He stated that marketers had received clear instructions to increase imports in the short term while government works on longer-term solutions to stabilise supply and prices. The directive comes as many Nigerians grapple with climbing food and transportation costs, making affordable cooking gas a pressing concern nationwide.
The government’s decision has drawn sharp reactions from citizens, who questioned why a nation with over 200 trillion cubic feet of proven natural gas reserves still needs to depend on imports. Many took to social media to express their frustration. “In a country where we have more gas reserves than oil, a nation is saying people should import? What happens to opening up more LNG plants across the country for this thing to be in abundance?” one user wrote. Another added: “If we have a large reserve and we export more than 942 billion scf and yet the minister’s solution is to import instead of cut export and increase what’s available for consumption… this isn’t a renewed hope, Nigeria is screwed.”
Despite these criticisms, Ekpo maintained that government policies are focused on ensuring local supply remains a priority. He emphasised that factors such as rising international LPG prices and infrastructural bottlenecks have limited domestic availability but assured that new gas projects—such as those from Seplat Energy—are expected to boost local supply and help moderate prices in the coming months.
Stakeholders in the oil and gas sector have long highlighted issues like inadequate processing facilities and poor transportation networks as obstacles preventing Nigerians from fully benefiting from the country’s vast gas wealth. The government insists that domestically produced LPG will continue to serve local demand first before exports are considered. Meanwhile, concerns persist that further price hikes may force more Nigerians to revert to firewood or charcoal for cooking—a trend with serious health and environmental implications.
Nigeria News (Standard)
Oshiomhole’s Suspension Claim on Akpoti-Uduaghan Proven False After Fact Check
Recent review finds Senator Oshiomhole’s statement on Natasha Akpoti-Uduaghan’s alleged suspension has no factual basis
Recent review finds Senator Oshiomhole’s statement on Natasha Akpoti-Uduaghan’s alleged suspension has no factual basis
A recent fact check has revealed that the claim made by Senator Adams Oshiomhole regarding the suspension of Senator Natasha Akpoti-Uduaghan is untrue. The issue came to light in Abuja on Wednesday, 17 June 2026, after Oshiomhole reportedly stated that Akpoti-Uduaghan had been suspended by her party.
The statement, which circulated widely on social media and various news platforms, was subjected to scrutiny after stakeholders and party officials questioned its authenticity. Investigations showed there was no official communication from the Peoples Democratic Party (PDP) at either state or national level confirming any suspension of Senator Akpoti-Uduaghan.
This development is significant as it highlights the increasing trend of misinformation within Nigerian politics, especially in Kogi State and across the North-Central zone, where political rivalry remains intense. False claims of suspension or expulsion can impact public perception and disrupt legislative activities.
Neither the PDP Kogi State chapter nor the party’s National Working Committee released any statement supporting Oshiomhole’s assertion. Party officials maintained that Senator Akpoti-Uduaghan remains an active member in good standing. Efforts to reach Oshiomhole for clarification were unsuccessful at press time.
Observers have called for more responsible communication among political actors to maintain public trust and ensure accurate information flows to citizens. The incident underscores the need for fact-checking in Nigeria’s political discourse, especially ahead of future elections.
