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OVH Energy Says Lagos Midstream Jetty to Save Nigeria N43bn Annually

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ASPM Limited, a subsidiary of OVH Energy Limited, achieved a ground-breaking milestone as it launched its Lagos Midstream Jetty (LMJ) located at the Lagos Apapa Harbour.

The Lagos Midstream Jetty is West Africa’s first privately owned mid-stream jetty, conceived by Oando PLC to increase the delivery capacity and offloading efficiency of petroleum products into marketers’ storage facilities in Apapa Lagos.

The Lagos Midstream Jetty is expected to alleviate the perennial infrastructural hiccups experienced in Apapa, eliminating the lightering and demurrage charges currently being incurred by petroleum marketers by NGN8.3 billion ($23m) and NGN9.8 billion ($27m) respectively.

Additionally, the Jetty will reduce discharge time from 21 to 3 days, increasing product availability.

With a draft of 13.5m, Length Overall (LOA) of 210m and a capacity to receive 45,000 DWT vessels (deadweight tonne), the Lagos Midstream Jetty will discharge at up to 800 m3 (cubic meters) of petroleum products per hour.

The Jetty will operate 24 hours a day to supply products into storage facilities situated within the Apapa axis, via a 3km submarine pipeline network linked directly with up to 200,000MT storage belonging to major and independent marketers in Nigeria.

LMJ which is configured to receive all white products namely petrol, diesel and kerosene, consists of a simple horizontal platform, five (5) berthing dolphins, and four (4) mooring points.

In comparison to available jetties, the Lagos Midstream Jetty has the capacity to receive larger vessels of up to 45,000 DWT in one lot thus reducing the current necessity of bringing in smaller volumes of petroleum products in several batches. This will result in significant cost savings on lightering and generate economies of scale advantages for marketers.

Commenting at the launch event Mr Wale Tinubu, chairman OVH Energy, said: “The Lagos Midstream Jetty was conceived as an innovative industry solution to the perennial challenges marketers faced in the importation of petroleum products. Over the past 30 years, marketers have spent approximately NGN1.6 Trillion ($4.5 billion) on lightering, with 90% of this spend flowing out of the country. Today we have delivered a first class piece of engineering that meets global standards, is the first of its kind in sub-Saharan Africa and will be of invaluable benefit to the industry and nation at large.

“I must thank our regulators, bankers and contractors who believed in us from the start. It is a proud moment for Oando PLC who conceived the idea and OVH who have taken up this mantle.  From conception to realisation, the idea of the Lagos Midstream Jetty is now a reality and is indeed another infrastructural success for us, our nation and the continent.’’

Commenting further on the facility, Mr. Deji Osikoya, the general manager of ASPM Limited, a subsidiary OVH Energy, stated “The Lagos Midstream Jetty is an innovative infrastructure investment designed to radically transform the efficiency of Nigeria’s downstream landscape and boost Nigerian’s petroleum downstream economics.  We expect the Jetty to become an extremely valuable and viable portfolio especially for marketers, reducing delays caused by infrastructural limitations in Lagos, thus improving marketers’ service delivery and profitability and reducing the financial drain on the nation’s resources.”

The Jetty is equipped with a gangway tower to facilitate vessel discharge operations and an on-shore control station at Alapata, Apapa which serves as the central control center for its off-shore and on-shore operational activities fully equipped with an automated process control system.

“The Lagos Midstream Jetty (LMJ) is fully operational, having berthed 10 vessels and discharged products totaling 255,000 metric tonnes of cargo demonstrating its potential as a functionally efficient and safe facility. With a monthly volume capacity of 240,000metric tonnes, or 240,000,000 litres, the Lagos Midstream Jetty is set to substantially boost supply of petroleum product into Nigeria, and contribute an estimated NGN13.1 billion ($36 million) cost reduction in product imports and associated transactions.” Osikoya further added.


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Nigeria Police suspends tinted glass permit enforcement over court injunction

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Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Nigeria Police suspends tinted glass permit enforcement over court injunction

Tinted glass permit

The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.

An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.

Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.

The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.

IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.


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NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

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Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.

According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.

The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.

Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.

He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.

Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.

In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.

Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.


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T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

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T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.

NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.

Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”

The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.

Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.


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