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Good morning! Nigerian Newspapers Headlines: NNPC subsidiaries’ debt balloons 70% to N30tn

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‎1. Despite its transition into a commercial entity, the Nigerian National Petroleum Company Limited is grappling with mounting financial pressure as unviable and underperforming subsidiaries deepen inter-company indebtedness, pushing outstanding obligations owed to the company to N30.30tn.

2. The National Emergency Management Agency, NEMA, on Sunday disclosed that 25 persons have died and 14 others are missing following a boat mishap in Nguru LGA in Yobe State. According to NEMA, 13 people were rescued after the mishap occurred around 7:48 p.m. on Saturday.

3. It was a sad gathering in London on Sunday, January 4, 2026 as family and friends assembled for the Janaza (funeral) prayer service for Sina Ghami and Abdul Latif Kevin Ayodele, close friends of boxing star Anthony Joshua. A wake for the pair was also held at Cavendish Banqueting Hall in North West London. Then a funeral for Ghami took place at Hendon Cemetery and Crematorium.

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4. At least 60 people were on Sunday killed in an attack at the Kasuwan Daji Market, Borgu LGA, Niger State. Sources said terrorists who emerged from the Kainji National Park stormed the market around 4pm, surrounded the market and slaughtered traders and buyers, while kidnapping several others, particularly women and children.

5. President Bola Ahmed Tinubu and his Rwandan counterpart, President Paul Kagame have held a private meeting in Paris, France on Sunday. Both leaders were said to have discussed world affairs and strategies for advancing Africa’s specific interests.

6. Following the seizure of 31.5 kilograms of cocaine aboard a merchant vessel, MV Aruna Hulya, by operatives of the National Drug Law Enforcement Agency, NDLEA, at the GDNL Terminal, Apapa Port, Lagos, on Friday, January 2, 2026, the agency has taken into custody 22 Indian crew members of the ship. Director, Media and Advocacy, NDLEA, Mr Femi Babafemi disclosed this in a statement on Sunday.

See also  Nigeria’s debt nears N81tn

7. A road accident in Langtang North Local Government Area of Plateau State has claimed the lives of five persons, while 13 others sustained injuries. This occurred less than six days after a multiple-vehicle crash involving a fuel-laden tanker and five other vehicles near St. Louis College, close to the Polo Field Club roundabout in Jos, which claimed two lives.

8. The Attorney General of the Federation and Minister of Justice, AGF, Prince Lateef Olasunkanmi Fagbemi, SAN, has formally terminated the criminal charges of defamation brought against Senator Natasha Akpoti-Uduaghan. A notice by the federal government bringing the trial of the Kogi Central Senator to a halt was filed at the Federal High Court in Abuja.

9. The leadership of the All Progressives Congress, APC, in Ahoada West Local Government Area of Rivers State has said it will abide by whatever instructions the Minister of the Federal Capital Territory, Nyesom Wike, gives ahead of the 2027 elections. The party’s chairman, Rejoice Otobo, disclosed this during Wike’s ‘thank you’ visit to the area on Sunday.

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10. Stakeholders of the Peoples Democratic Party have outlined far-reaching conditions for reconciliation as consultations intensify to resolve the party’s lingering internal crisis, with issues surrounding party structure, the conduct of another convention, public apologies and other fundamental reforms taking centre stage in ongoing deliberations.

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Ex-IGP Egbetokun expresses happiness Tunji Disu is taking over, says they both benefitted from Tinubu mentorship

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Former inspector-general of police (IGP), Kayode Egbetokun, has said
he is happy that Tunji Disu is taking over from him as the country’s police chief.

Egbetokun spoke on Wednesday at the State House, Abuja, during the swearing-in and decoration of Disu as acting IGP.

The former IGP resigned from his position on Tuesday following a directive from President Bola Tinubu.

“I am happy that he is the one taking over from me. My advice to him is that he already knows all the things we have been doing together — strengthening operations, enhancing intelligence coordination, improving the inter-agency deployment model, dismantling several criminal syndicates, and improving our intelligence response mechanisms. I am sure he will continue to do that,” the former IGP said.

Egbetokun advised the new acting IGP to continue to remain committed to his duties, noting that Disu has been part of his administration from the beginning.

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“He was my principal staff officer; he was commissioner of police in Rivers state and in the FCT; he was assistant inspector-general in charge of my special protection unit,” Egbetokun said.

“When the president gave the presidential directive to withdraw police officers from VIP protection, he was the person I called upon to ensure that the directive was fully complied with, and he did it very well.”

Egbetokun said he is “particularly excited” to hand over to Disu, noting that they share “unique history” and both benefited from the mentorship of Tinubu during his tenure as governor of Lagos state.

“I remember learning many things from him (Tinubu), but there is something in particular I recall,” he said.

“He once said that a good leader should have a successor and a succession plan and must invest in his likeliest successors.

“I invested in likely successors in the Nigeria Police Force, and I am happy that one of those I invested in has been found most suitable for the job and has been decorated today.”

See also  Nigeria’s debt nears N81tn

Egbetokun thanked the president for trusting him with different positions, especially when he appointed him as his chief security officer when he was governor of Lagos state, and subsequently as IGP when he became president.

“I am deeply grateful to him,” Egbetokun said.

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Ex-NNPC GM jailed 7 yearsin US over $2.1m bribe from Chinese oil firm

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A United States district court has sentenced Paulinus Okoronkwo, a Nigerian American, to 87 months in prison for receiving a $2.1 million bribe from Addax Petroleum, a subsidiary of Sinopec, a Chinese state-owned petroleum and gas conglomerate.

Okoronkwo is a former general manager of the Nigerian National Petroleum Corporation (NNPC), now NNPC Limited.

In a statement on Monday, the US government said John Walter, the district judge, ordered Okoronkwo to pay $923,824 in restitution to the Internal Revenue Service (IRS).

The judge also ordered the forfeiture of $1,039,997, which is the net proceeds of the sale of a home belonging to the ex-NNPC general manager.

In August 2025, Okoronkwo was found guilty of transactional money laundering, tax evasion, and obstruction of justice.

According to US prosecutors, while serving as NNPC’s upstream division general manager, Okoronkwo abused his position by accepting a $2.1 million payment from Addax Petroleum, the Switzerland-based subsidiary of Sinopec.

The prosecutors said the money, wired in October 2015 to his law firm’s trust account in Los Angeles, was disguised as payment for consultancy services but was a bribe to secure favourable drilling rights in Nigeria.

See also  Nigeria pays $1.79bn to service debts owed World Bank, China in five years

The prosecutors had presented evidence that Addax executives falsified records to show the payment as legal fees, dismissed internal staff who raised concerns, and provided misleading information to auditors.

Okoronkwo, who practised immigration, family, and personal injury law in Koreatown, was said to have later used nearly $1 million of the bribe money as a down payment on a home in Valencia, California, while failing to declare the income on his 2015 tax return.

In October 2025, a US court granted the forfeiture application filed by the US government against Okoronkwo’s property.

The property is located at 25340 Twin Oaks Place, Valencia, California 91381.




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Tinubu charges acting IGP Tunji Disu to lead with discipline, rebuild trust in police

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President Bola Tinubu has charged Tunji Disu, the acting inspector-general of police (IGP), to lead with discipline and rebuild public trust in the Nigeria Police Force (NPF).

The president spoke at the State House on Wednesday during the decoration of Disu with his new rank as the acting IGP, following the resignation of Kayode Egbetokun.

Tinubu also told the new acting IGP to confront the escalating threats of banditry, terrorism, and other criminal activities across the country head-on.

“I expect you to strengthen the discipline, enhance interagency collaboration, and restore public confidence in Nigeria police,” the president said.

“Lead firmly but fairly, demand professionalism at every level and ensure that safety of lives and property remains your highest priority.”

Tinubu praised Disu as a “straightforward individual, committed and respected,” with sufficient discipline, urging him to draw from Egbetokun’s experience and “make it better than you met it.”

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“Nigeria is challenged right now with banditry, terrorism and all sorts of criminal activities,” he said.

“You’ll be part of the thinking, and you’ve been part of the innovation. The challenge as you hold the baton of this leadership is the belief that you will excel and Nigeria will prevail.”

The president appreciated Egbetokun for his “dedication in service” and “good leadership attributes” in maintaining law and order.

“Nigeria is a grateful nation to you,” he said.

“You have not succeeded without a good successor. Therefore, the success of a Tunji Disu IGP, when confirmed, is part of your responsibility.”

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