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Saudi Arabia to invest in Nigeria’s refineries, support CBN’s FOREX reforms
Saudi Arabia has pledged to provide financial support to sustain the Central Bank of Nigeria’s foreign exchange reforms in addition to investing in the revamping of Nigeria’s refineries.
The Minister of Information and National Orientation, Mohammad Idris in a statement yesterday said the Saudi Crown Prince, Mohammed bin Salman made the promises to assist Nigeria at a bilateral meeting with President Bola Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.
Idris who attended the bilateral meeting, explained that as part of the support for the ongoing CBN reforms of the country’s foreign exchange regime, Saudi Arabia, which is the world’s largest producer of crude oil, will also make available a substantial deposit of foreign exchange to boost Nigeria’s forex liquidity.
Prince bin Salman commended the economic reforms being implemented by President Tinubu, and expressed the commitment of the Saudi government to supporting these reforms, and enabling Nigeria to reap the full benefits.
The statement read: “The Crown Prince expressed the eagerness of Saudi Arabia to ensure the economic prosperity of Nigeria under President Bola Tinubu, and realize its full potential as the economic giant of Africa.
“In addition to these, they also highlighted agriculture and renewable energy as major areas of investment interest for Saudi Arabia, in Nigeria, to help the country attain food and energy security, respectively.“
The Saudi authority hinted that the refinery investments in Nigeria will be led by the Saudi state-owned oil company, Saudi Aramco, with the revamp to be completed within a two- to three-year timeframe.
“Prince bin Salman also expressed appreciation to Nigeria for its active participation in and support for the Organization of the Petroleum Exporting Countries (OPEC) of which Nigeria is a key member,” said the minister in the press statement.
In his remarks, President Tinubu thanked the Saudi Prince for the proposed investments, while pledging that Nigeria would ensure judicious management and oversight.
The two leaders expressed commitment to working together over the next six months to develop a comprehensive road-map and blueprint to deliver on the agreed investments and outcomes. In the same vein, both Tinubu and Prince bin Salman expressed the need to strengthen security cooperation to mitigate terrorism, illegal migration and other crises, not just in Nigeria, but across West Africa and the Sahel region. They discussed existing economic and socio-cultural cooperation between Nigeria and Saudi Arabia, and agreed to open new vistas in bilateral relations.
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Ex-petroleum Minister Alison Madueke found not guilty by UK court
Dezieani Allison Madueke, former Nigeria’s petroleum Minister, was on Wednesday, pronounced ‘not guilty’ by a London jury of six bribery charges.
Madueke who was faced excessive media trial during the administration of late Muhammad Buhari over allegation money laundering amounting to billions of dollars, was charged with five counts of accepting bribes and a charge of conspiracy to commit bribery, which she denied.
Prosecutors alleged Alison-Madueke, 65, was given “a life of luxury” in London from oil and gas industry figures seeking lucrative contracts in Nigeria, which has long grappled with mismanagement and corruption.
Madueke who served as petroleum Minister between 2010 and 2015 under then-president Goodluck Jonathan, was well the president of the Organization of the Petroleum Exporting Countries.
She told the court that she never took any bribes and had no real influence over the awarding of lucrative government contracts.
After a trial at London’s Southwark Crown Court, Alison-Madueke was acquitted by a jury of all six charges.
Alison-Madueke stood trial alongside oil industry executive Olatimbo Ayinde, 54, who was charged with one count of bribery relating to Alison-Madueke and a separate count of bribery of a foreign public official.
Alison-Madueke’s brother Doye Agama, 69, was charged with conspiracy to commit bribery with his sister relating to payments made to Agama’s church.
Both Ayinde and Agama denied the charges against them and were also acquitted by the jury.
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NHRC boss Ojukwu condemns death of Gen. Rabe Abubakar, backs state police to address insecurity
Dr. Tony Ojukwu, SAN, the Executive Secretary of the National Human Rights Commission (NHRC), has condemned in the strongest terms the abduction and subsequent death of Retired Major General Rabe Abubakar while in bandits’ captivity, describing it as a grave violation of the right to life and personal security that demands urgent and systemic responses.
Ojukwu said the incident represents a disturbing escalation of insecurity in the country and a direct assault on the dignity and sanctity of human life.
A statement signed by the Director Corporate Affairs and External Linkages Fatimah Agwai Mohammed, quoted Ojukwu as saying the Commission received with deep sorrow the news of the General’s death, which occurred while he was held captive, despite reported efforts by the Katsina State Government and security agencies to secure his release.
He noted that every person, regardless of status or background, is entitled to the protection of the right to life, liberty, and security of person under the Constitution of the Federal Republic of Nigeria and international human rights instruments to which Nigeria is a party.
He stressed that the abduction and death of a retired senior military officer underscores the extent to which insecurity has penetrated all levels of society, leaving citizens, including highly placed individuals, vulnerable to criminal violence.
The Executive Secretary expressed concern that schools, homes, and communities are no longer safe, and that the persistent threat of banditry and kidnapping continues to erode public confidence in the state’s duty to protect.
He stated that the Commission views the killing as not only a loss to the bereaved family and Katsina State, but a national tragedy that reflects the urgent need for a coordinated and rights-based response to insecurity.
The NHRC boss said the Commission believes that the conversation around the establishment of state police deserves serious and immediate consideration as part of a broader strategy to address insecurity.
He explained that decentralizing policing could bring security closer to communities, improve response time, and enhance local intelligence gathering, provided that such structures are created with strong legal frameworks, civilian oversight, and adherence to human rights standards to prevent abuse and ensure accountability.
The Learned Silk called on the Federal Government and security agencies to ensure that a thorough, independent, and transparent investigation is carried out to identify and bring to justice all those responsible for the heinous act.
He emphasized that accountability is essential to upholding the rule of law and to deter further violations, and urged authorities to strengthen measures for the protection of civilians while exploring structural reforms that can improve security outcomes nationwide.
The Commission extended its condolences to the family of the late General, the Government of Katsina State, and the Nigerian people. Dr. Ojukwu affirmed that the NHRC remains committed to monitoring the situation and to advocating for policies and actions that safeguard the right to life and security for all Nigerians.
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Rwandan dies in Kuje prison
A Rwandan citizen identified as Benjamin Relasss has reportedly died in custody at the Kuje prison in Abuja, sparking allegations of medical neglect and misconduct within the facility.
According to Sahara Reports, sources alleged thatu Relasss died on Tuesday morning while awaiting trial in a financial-related case before Justice Emeka Nwite of the Federal High Court, Abuja.
Relasss had been in detention since 2023 after he was denied bail, reportedly on the grounds that he was not a Nigerian citizen. The sources further claimed that inmates requiring specialised medical attention outside the correctional facility often face difficulties in obtaining referrals for treatment. They alleged that some officials demand substantial sums of money before approving recommendations for treatment at external hospitals, despite the correctional centre’s purported lack of adequate medical equipment and specialist personnel to handle certain health conditions.
According to sources, the Kuje facility is short of adequate medical resources, with inmates requiring external treatment sometimes unable to access timely referrals. “Benjamin Relasss, a Rwandan citizen died inside Kuje Prison this morning (Tuesday) due to outright neglect and care by an overambitious and money mongering officer in the facility,” a source said. “The officer demands huge cash from inmates who are sick before allowing the patient to be recommended to hospitals outside because the Kuje facility lacks adequate equipment and medical specialists.”
“Today, the Rwandan citizen Benjamin Relasss is dead while awaiting trial on a financial-related case before Justice Emeka Nwite of the Federal High Court, Abuja,” the source added.
Another source, who spoke on condition of anonymity, alleged that inadequate access to medical care remains a serious concern at the Kuje Correctional Centre. “Yes, the Rwandan is dead. At Kuje prison, they request money before any sick person is taken to the hospital,” the source said. “In fact, there is another inmate who is critically ill and currently at the prison clinic.
They are allegedly demanding money before writing to the Chief Judge because he has only five months left on his sentence. Because there is no money, he is still lying in the clinic.” Efforts to obtain a response from the Nigerian Correctional Service on the allegations and the circumstances surrounding the death of Relasss were unsuccessful at the time of filing this report.
The National Spokesperson of the service, Chief Superintendent of Corrections (CSC) Jane Osuji, did not respond to phone calls or a text message sent to her.
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