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Good morning! Newspaper Headlines Today: N8.41tn oil theft drains economy, fuels investor doubts

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1. Nigeria lost crude oil valued at a staggering N8.41tn to theft and metering deficiencies between 2021 and July 2025, according to the latest data sourced from the Nigerian Upstream Petroleum Regulatory Commission.

Although the regulator celebrated recent progress in reducing daily losses to their lowest levels in nearly 16 years, experts warn that the cumulative economic toll remains devastating and exposes governance failures in the oil sector.

 

2. President Bola Ahmed Tinubu has directed the Minister of the Federal Capital Territory, Nyesom Wike, to immediately commence the construction of two hostels, each with a 300-room capacity, for the Nigerian Law School in Abuja. The President also directed the construction of a road linking the Body of Benchers Secretariat in Jabi District with Nile University.

 

3. Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso, says 14 Nigerian banks have fully met the new capital requirement in the ongoing recapitalisation exercise. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 302nd meeting of Monetary Policy Committee, MPC of the CBN.

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4. The African Democratic Congress, ADC, has fired back at the Presidency over its recent assertion that President Bola Tinubu has no plans to extend his tenure beyond 2031, describing the remarks as presumptuous and patently undemocratic. In a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC asserts that the President’s mandate ends in 2027.

 

5. The National Assembly has extended its annual recess by two weeks. The federal lawmakers had embarked on their recess on July 23, and were billed to resume on Tuesday. But the Clerk to the National Assembly, Kamoru Ogunlana Esq, in a statement said the resumption date had been rescheduled for October 7, 2025.

 

6. A special court-martial of the Nigerian Army in Maiduguri, Borno State, has sentenced three soldiers to life imprisonment and another to 15 years for illegal arms deals carried out in connivance with police officers and terrorists. Delivering judgment, Brigadier General Mohammed Abdullahi, president of the court-martial, pronounced Raphael Ameh, a sergeant; Ejiga Musa, a sergeant; and Patrick Ocheje, a lance corporal guilty.

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7. The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-academic Staff Union of Universities and Allied Institutions has extended the strike ultimatum issued to the government by two weeks. In a joint letter signed by SSANU President, Muhammed Ibrahim, the unions decried the “unjust disbursement of the earned allowances to staff of universities, non-payment of outstanding allowances, among others.”

 

8. An accident involving a 40ft container truck and a tricycle has claimed the lives of a yet-to-be-identified policeman and a female passenger in the Ijora Seven-Up area of Lagos State. It was learnt from a statement by the Lagos State Traffic Management Authority that the incident happened on Tuesday morning.

 

9. The All Progressives Congress (APC) has inaugurated a 1,800-man campaign council to defeat incumbent, Prof. Chukwuma Soludo, in the Nov. 8 governorship election in Anambra. The National Chairman of the party, Nentawe Yilwatda, said during the inauguration in Awka on Tuesday that the party had the wherewithal to win the election.

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10. The First Lady, Sen. Oluremi Tinubu, says the National Library fund has raised about N20.4 billion since its launch on Sept. 18, ahead of her 65th birthday. Ahead of her birthday on September 21, Mrs Tinubu unveiled a fundraising initiative aimed at completing the country’s long-abandoned National Library headquarters in Abuja.

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Police rescue Adebayo Adelabu’s sister, her twin sons

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The Nigeria Police Force has rescued Mrs Olaide Busayo Adegoke John-Paul and her 12-year-old twin sons, Peter and Paul, alive during a rescue operation carried out around 7:30 p.m. on Saturday. 

According to reports, two suspected kidnappers were neutralised in a gun duel with police operatives, while two firearms were recovered from the gang.

The victims, including the younger sister of the former Minister of Power, Chief Adebayo Adelabu, were abducted around 7:30 a.m. on June 3, 2026, while on their way to drop the children at school in Ibadan, Oyo State.

Police sources disclosed that sustained intelligence tracking and tactical pressure forced the kidnappers into a confrontation with operatives, leading to the successful rescue of the victims.

The source disclosed that security operatives are still combing nearby areas for fleeing members of the kidnapping syndicate, some of whom are believed to have escaped with gunshot wounds.

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In a statement confirming her abduction, Adelabu’s media aide, Femi Awogboro, said the victims were kidnapped at about 7:30 a.m. while Mrs John-Paul was taking her children to school, leaving the family in distress.

“We are deeply distressed by this unfortunate incident but remain hopeful that the victims will be rescued safely. We appeal to the public to remain calm, avoid speculation, and support ongoing efforts with prayers,” the family’s statement read in part.

She is the youngest of five children of Mrs Olufunmilayo Aduke Adegoke Adelabu, who reportedly retired voluntarily from her career at First Bank Pension Custodian in 2025 before relocating to Ibadan with her children.

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Police debunk claim abducted schoolgirl died in captivity

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The police command in Oyo state has dismissed claim that one of the schoolchildren abducted in Ahoro-Esiele, Oriire LGA, died while in captivity.

In a statement issued on Friday, the command described the report as false, misleading and designed to incite panic among residents.

The police said neither the police nor any security agency involved in efforts to rescue the abducted pupils had confirmed such development.

“The report is false, misleading, mischievous, and without any factual basis whatsoever,” the statement reads.

The command accused the authors of the report of deliberately using unverified claims and emotional narratives to manipulate public opinion and create fear.

“It is particularly disturbing that the authors of the report deliberately employed emotional narratives, speculative claims, and unverified accounts in a calculated attempt to manipulate public opinion and generate anxiety among residents,” the statement added.

The police said ongoing rescue operations are being pursued with professionalism and confidentiality, warning that the spread of false information could undermine security efforts and inflict further trauma on affected families.

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The command cautioned bloggers, social media influencers, online content creators and media organisations against publishing unverified security-related information.

“The indiscriminate sharing of false reports, particularly those capable of inciting fear or causing public disorder, is irresponsible and unacceptable,” the statement said.

The police urged residents to disregard the report and rely only on information released through official channels of the Nigeria Police Force and other authorised government agencies.

The command reiterated its commitment to public safety and assured residents that verified updates on the incident would be communicated as necessary.

Several schoolchildren were recently abducted by gunmen in Ahoro-Esiele, Oriire LGA, prompting a coordinated rescue effort by security agencies.

The police said investigations and rescue operations remain ongoing.

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Oyo school attack: Terrorists’ four-point demand before releasing pupils, teachers

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The abductors of teachers and pupils from three schools in Oriire Local Government Area of Oyo State have reportedly made a four-point demand before they will free the captives.

According to media reports, the abductors, who attacked schools in Esinele, Yawota and Alawusa communities on May 15, are reportedly demanding the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law,  reports.

The two commanders whose release is reportedly being sought are Mahmud Usman, also known as Abu Bara’a or Abbas Mukhtar, and his deputy, Abubakar Abba, alias Isah Adam or Mahmud Al-Nigeri, also called Mallam Mamuda.

The two terrorists are leaders of Jama’atu Ansarul Muslimeena Fii Bilaadis Sudan, JAMBS, also known as Ansaru — a breakaway faction of Boko Haram — and are alleged to have aided and abetted acts of terrorism in the country between 2013 and 2015.

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The two were arrested between May and July 2025 and are currently standing trial on terrorism charges before Justice Emeka Nwite of the Federal High Court, Abuja, in a suit marked FHC/ABJ/CR/464/2025, with their trial commencing on January 15, 2026.

Usman was sentenced to 15 years in prison by Justice Emeka Nwite of the Federal High Court, Abuja, on September 11, 2025, after pleading guilty to one count of illegal mining — which he admitted he used to fund arms procurement for terrorism and kidnapping.

He denied 31 other counts and remains in DSS custody pending trial on those charges.

His deputy, Abba, pleaded not guilty to all 32 counts and is also standing trial before the same court.

Unconfirmed reports also claimed that the terrorists are demanding a ransom put at ₦1bn, which is to be paid into a bank account in the Republic of Benin.

Security analysts have warned that releasing the commanders would pose serious risks to national security.

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Meanwhile, the Oyo State Government has declined to comment on the demands or the state of negotiations, with the Commissioner for Information, Dotun Oyelade, saying it would be “unhelpful” to disclose the government’s strategy while efforts to secure the victims’ release were ongoing.

On May 17, two days after the attack, the abductors released a video showing the beheading of one of the kidnapped teachers, Michael Oyedokun, a mathematics teacher at Community High School, Ahoro-Esinele.

Governor Seyi Makinde confirmed the killing in a statement on Monday, May 18, describing it as deeply painful.

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