Divorce.com, a United States website which offers resources and support for navigating divorce, has included Nigeria on its list of countries with high divorce rates.

According to data published on their website in July, Nigeria ranked eleventh out of twenty-six countries with the highest divorce rate.

The results were obtained after sampling respondents from these countries and compiling statistics from 16 primary sources, ensuring a comprehensive and reliable research process.

The report also revealed a significant trend. Women in sub-Saharan Africa, especially Nigeria, are taking the initiative in divorce more often than men, a reflection of changing gender dynamics.

According to the data, Maldives has the highest divorce rate at 5.52 per cent, while India has the lowest rate at 0.01 per cent.

Maldives tops the list because women in the country have become more financially independent and can sustain themselves without husbands. Also, there is little to no stigma associated with getting divorced in Maldives.

However, India has the lowest divorce rates because marriage is highly valued, and divorce has historically been stigmatised, which has created intense social pressure to maintain the marriage, even in the face of difficulties.

Rationale

Divorce.com claimed that Nigeria’s divorce rate reached 2.9 per cent in 2023 based on available data on marriage and divorce.

Just like Maldives, Nigeria was ranked eleventh among the countries with the highest divorce rate because its women are financially independent and can sustain themselves without husbands.

They stated that the data was arrived at based on scholars’ belief that high divorce rates in Western countries stem from the reduced stigma surrounding divorce and the growing financial independence of women.

Countries with higher divorce rates than Nigeria include the Maldives, Cuba 2.9 per cent, Finland 2.4 per cent, Sweden 2.5 per cent, Denmark 2.7 per cent and Ukraine 3.1 per cent.

For instance, Canada had a divorce rate of 2.8 per cent, while India, a country with a different cultural and religious context, had a divorce rate of 0.1 per cent.

Other countries with lower divorce rates than Nigeria include Malta 0.6 per cent, Ireland 0.7 per cent, Guatemala 0.6 per cent, Venezuela 0.7 per cent, Uruguay 0.8 per cent, Austria 1.6 per cent, and Belgium 1.8 per cent.

Factors that contributed to divorce

According to Divorce.com, various factors influence a country’s divorce rate, and these factors differ across continents.

In the countries with the highest divorce rates, religion, local divorce laws, lack of social support, and limited employment opportunities are significant contributors.

These factors can lead to a breakdown in trust and communication, making it difficult for couples to maintain a healthy and committed relationship.

Other common factors include marrying too young 45.1 per cent, financial hardship 36.7 per cent, substance abuse 40.6 per cent, and domestic violence 23.5 per cent.

Africa

Additionally, eleven other African countries were ranked behind Nigeria in divorce rates.

These countries include Egypt, Algeria, Tunisia, Sudan, Mauritius, Libya, South Africa, Ethiopia, Kenya, Zimbabwe, and Mozambique.

Egypt’s divorce rate was 2.2 per cent, Algeria’s 1.6 per cent, Tunisia’s 1.2 per cent, Sudan’s 1.5 per cent, Mauritius’ 1.7 per cent, Libya’s 0.2 per cent, and South Africa’s 0.4 per cent.

Furthermore, Ethiopia has a divorce rate of 2.6 per cent, Kenya 0.06 per cent, Zimbabwe 0.07 per cent, and Mozambique 0.04 per cent.

Determining factors

According to Divorce.com, the primary factors influencing divorce rates in Africa include age at first marriage, financial independence, polygyny, andHIV/AIDS risks.

The report also revealed that women in sub-Saharan Africa initiated divorce more often than men.

Specifically, 34.6 per cent of women with secondary school education, 38.6 per cent of those living in urban areas, 57.6 per cent employed outside the household, and 75.1 per cent in monogamous unions have divorced.

Additionally, they highlighted that marriage stability in sub-Saharan African countries mainly depends on religion and extended family ties.

“In particular, conservative Christians, who considered divorce a taboo in the past, now increasingly believe it to be a better option than domestic violence and infidelity.

“In addition, if a marriage requires paying a substantial amount of money to the bride’s family, maternal relatives will try to keep the union from falling apart. Otherwise, they will have to return the portion or all of the “bride price”, Divorce.com added.

PT

Israel, Hamas set three-day pauses in fighting for Gaza polio shots, WHO says

Israel's military and Palestinian militant group Hamas have agreed to three separate, zoned three-day pauses in fighting in Gaza to allow for the first round of vaccination of 640,000 children against polio, a senior WHO official said on Thursday.

The vaccination campaign is due to start on Sunday, with the pauses scheduled to take place between 6 a.m. and 3 p.m. (0300-1200 GMT), said Rik Peeperkorn, the World Health Organization's senior official for the Palestinian territories.

He said the campaign would start in central Gaza with three consecutive daily pauses in fighting, then move to southern Gaza, where there would be another three-day pause, followed by northern Gaza. Peeperkorn added there was an agreement to extend the pause in each zone to a fourth day if needed.

"From our experience, we know an additional day or two is very often needed to achieve sufficient coverage," Mike Ryan, WHO emergencies director, told the U.N. Security Council on Thursday during a meeting on the humanitarian situation in Gaza.

A second round of vaccination would be required four weeks after the first round, said Peeperkorn.

"At least 90% of coverage is needed during each round of the campaign in order to stop the outbreak and prevent international spread of polio," Ryan said.

The WHO confirmed on Aug. 23 that one baby has been paralyzed by the type 2 polio virus, the first such case in Gaza in 25 years.

"We are ready to cooperate with international organizations to secure this campaign, serving and protecting more than 650,000 Palestinian children in the Gaza Strip," Hamas official Basem Naim told Reuters.

The Israeli military's humanitarian unit (COGAT) said on Wednesday that the vaccination campaign would be conducted in coordination with the Israeli military "as part of the routine humanitarian pauses that will allow the population to reach the medical centers where the vaccinations will be administered."

EVACUATION ORDERS

Israel was continuing a "focused and intensive effort" to deliver aid to Gaza and coordinate the polio vaccination campaign with WHO and U.N. children's agency UNICEF, Oren Marmorstein, spokesperson for Israel's foreign affairs ministry, posted on X.

Deputy U.S. Ambassador to the U.N. Robert Wood said it was important that Israel facilitate access and "ensure periods of calm and refrain from military operations during vaccination campaign periods." He added that the United States urged "Israel to avoid further evacuation orders during this period."

The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered on Oct. 7 when Palestinian Islamist group Hamas attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli tallies.

Israel's subsequent assault on the Hamas-governed enclave has since killed over 40,000 Palestinians, according to the local health ministry, while also displacing nearly the entire population of 2.3 million, causing a hunger crisis and leading to genocide allegations at the World Court that Israel denies.

The U.N. Office for the Coordination of Humanitarian Affairs on Wednesday said aid operations in Gaza were "heavily restricted by hostilities, insecurity, and mass evacuation orders affecting aid transport routes and facilities."

Acting U.N. aid chief Joyce Msuya said on Thursday that for the first time in the nearly 11-month long war Israel had reversed an evacuation order for three blocks in Deir al-Balah, adding: "Our teams are working to confirm if we can now return to the premises we had to leave on 25 August."

The evacuation orders issued on Sunday had "led to the largest relocation of U.N. staff since we were forced to leave northern Gaza in October 2023," Msuya said, affecting some 200 staff, more than a dozen guesthouses used by the U.N. and aid groups and four U.N. warehouses.

Reuters

WESTERN PERSPECTIVE

Ukraine F-16 crashes, pilot dies repelling Russian strike

One of Ukraine's F-16 fighter jets crashed while repelling a major Russian attack on Monday, Kyiv's military said, the first such loss reported since the long-awaited arrival of the U.S.-made planes this month.

The jet came down and its pilot died while it was approaching a Russian target, the Ukrainian General Staff said on Thursday on Facebook.

The F-16s had "demonstrated high efficiency" and downed four Russian cruise missiles, it added. Ukraine said Russia launched more than 200 missiles and drones that day targeting the energy sector.

"Connection with one of the aircraft was lost while it was approaching the next target. As it turned out later, the plane crashed, and the pilot died," the statement said.

A U.S. defense official told Reuters that Monday's crash did not appear to be the result of Russian fire, and possible causes from pilot error to mechanical failure were still being investigated.

Ukraine has not given details about the size of its new fleet, though the loss left a significant dent. The Times of London has cited a source as saying Ukraine had six of the jets.

CHALLENGES

President Volodymyr Zelenskiy said on Aug. 4 that Ukraine did not have enough pilots trained to use the F-16s or enough of the jets themselves.

Ukraine's air force western command said on Facebook that pilot Oleksiy Mes died in a combat mission on Monday.

"Oleksiy saved the Ukrainians from deadly Russian missiles. Unfortunately, at the cost of his own life," the statement said.

Mes went by the call sign Moonfish, and CNN reported in 2023 that he was training for F-16 missions.

The jets' arrival was a milestone for Ukraine in the fight against the full-scale invasion Russia launched 2-1/2 years ago.

Military analysts have said the small number of F-16s, while significant, are unlikely to be a turning point in the conflict.

Kyiv has been urging allies to supply modern jets since the start of Russia's invasion to bolster its small and old post-Soviet fleet.

Before Kyiv received F-16s this year, Russia had more time to prepare defences and Ukraine had to use a depleted air force that is a fraction of the size and sophistication of its enemy's.

RUSSIAN PERSPECTIVE

Russian troops liberate two communities in Donbass region over past day — top brass

Russian troops liberated two communities in the Donbass region over the past day in the special military operation in Ukraine, Russia’s Defense Ministry reported on Thursday.

"Battlegroup West units have liberated the settlement of Stelmakhovka in the Lugansk People’s Republic as a result of decisive operations. Battlegroup Center units have liberated the settlement of Nikolayevka in the Donetsk People’s Republic in active operations and continue pushing deeper into the enemy’s defenses," the ministry said in a statement.

Russia’s Battlegroup North inflicts 185 casualties on Ukrainian army over past day

Russia’s Battlegroup North repelled two Ukrainian counterattacks and inflicted roughly 185 casualties on enemy troops in its area of responsibility over the past day, the ministry reported.

"Battlegroup North units inflicted losses in the Volchansk, Bryansk and Liptsy directions on formations of the Ukrainian army’s 22nd mechanized, 36th marine infantry and 118th territorial defense brigades in areas near the settlements of Pustogorod in the Sumy Region, Volchansk and Liptsy in the Kharkov Region. They repelled two counterattacks by assault groups of the Ukrainian army’s 22nd mechanized brigade," the ministry said.

The Ukrainian army’s losses in that frontline area over the past 24 hours amounted to 185 personnel, three motor vehicles, a 152mm D-20 howitzer, a 122mm Gvozdika motorized artillery system and a 122mm D-30 howitzer, it specified.

Russia’s Battlegroup Center inflicts 530 casualties on Ukrainian army over past day

Russia’s Battlegroup Center inflicted roughly 530 casualties on Ukrainian troops in its area of responsibility over the past day, the ministry reported.

Battlegroup Center units "inflicted casualties on formations of the Ukrainian army’s 44th and 53rd mechanized, 95th air assault and 15th National Guard brigades in areas near the settlements of Rozovka, Grodovka, Karlovka and Mikhailovka in the Donetsk People’s Republic. They repulsed seven counterattacks by assault groups of the Ukrainian army’s 32nd and 100th mechanized, 68th jaeger, 25th airborne and 15th National Guard brigades," the ministry said.

The Ukrainian army’s losses in that frontline area over the past 24 hours amounted to 530 personnel, a US-made M113 armored personnel carrier, six motor vehicles, two 152mm D-20 howitzers, a 122mm D-30 howitzer and a 100mm Rapira anti-tank gun, it specified.

Reuters/Tass

On Sunday, the police and the Shiite religious group had another violent encounter in Wuse district, the Federal Capital Territory. As is all too common to these their frequent confrontations, people died. The police confirmed the death of two of their officers, and three others were also reportedly hospitalised due to critical injuries they sustained. Three police patrol vehicles were also said to have been set ablaze. The police issued a press release stating the attack on them was “unprovoked,” while the Shiites, on their own part, maintained that they were going about their own business of peaceful procession when the police appeared and began shooting indiscriminately.

Definitely, one party—or both—is not telling the whole truth and nothing but the truth. I find it hard to accept that the Shiites attacked the police without any provocation whatsoever, and I doubt the police would be so crazy that they would instigate the attack that left their men dead for no reason. Something had to have happened, and whatever it was, certainly preceded their Sunday encounter. Since neither side will admit any fault, the truth remains locked up somewhere in the middle of both accounts, frustratingly unreachable. It would be a waste of time and effort trying to decide right and wrong between the two sides.

The story of both is always about the police suspecting the Shiites of being up to mischief and the Shiites pushing back. In April, the police claimed they received an “intelligence” warning that the “armed wing” of the Shiites movement was planning to attack police operatives at locations such as hotels, beer parlours, black spots, residences, and checkpoints, among other locations. The Shiites, of course, denied the intelligence of that “intelligence” report. Just a week before the intelligence was received, the Shiites had also alleged the police killed five of them and injured 25 others during their pro-Palestinian demonstration in Kaduna.

Also, in July, the police announced a ban on a planned procession by the Shiites to mark the 2024 Islamic Ashura day ceremony saying they would use the occasion to foment trouble. April last year too, another clash between them reportedly left 20 injured. A month before then, the Shiites had also accused the state government of killing five of their members. I could keep going on and on about the tension between the Shiites and the police, but you already understand.

But it is not only the police that have problems with the Shiites. In 2014, another deadly showdown with the military claimed the lives of 34 members of the group, including three of the sons of Sheikh Ibrahim El-Zakzaky, the leader of the movement. Goodluck Jonathan was the president at the time, and he reportedly called to apologise to El-Zakzaky. In a country where people do not treat their laws as mere suggestions, murders are not resolved through futile apologies but through the justice system. But, this is Nigeria.

Compared to his successor, Muhammadu Buhari, Jonathan’s “sorry” at least demonstrated his humaneness. “Buhari” and “humane,” used in the same sentence, is oxymoronic. In 2015, months after his inauguration, the Shiites were attacked in their communities by soldiers after a confrontation where some of them blocked the then Chief of Army Staff, Tukur Buratai, from using a highway that runs through their Zaria headquarters. It was not enough that the soldiers dispersed them with gunshots at the scene, but they also returned to commit a massacre that left 347 people— please note these are official figures—dead.

El-Zakzaky was arrested following the invasion and incarcerated for a long time. The Army deployed heavily armed soldiers, bulldozers, and excavators to demolish the headquarters in an operation that lasted two days. Despite the result of the judicial panel that gave us the tally of 347 deaths, there was neither justice nor closure. One can only imagine the trauma that those who went through that incident still experience, and how it clouds their relationship with the police.

When Buhari was asked on national television about the incident, he did not think the killings warranted as much as compassion let alone justice. A subhuman mongrel, he not only dismissed the massacre, but also later made Buratai an ambassador. Meanwhile, following the massacre, Buratai embarked on various image-refurbishing projects to project himself as what he was not, to cleanse himself of the blood of the Shiites splattered across his face.

In dealing with the Shiites, Buhari allowed his religious prejudices to get in the way of his responsibility to them as the leader of a diverse and complex country. It is the same prejudice, still held by top-ranking officers in the various bureaucratic units of national administration, that percolates into the agencies that constantly clash with the Shiites.

In the wake of the Sunday incident, the Shiites are accusing the police of going to the hospitals to arrest and detain their members. That is a serious accusation, one that the police will likely never respond to, either out of professional haughtiness or simply because the structures of accountability that can compel a response are virtually non-existent. Either way, the Sunday incident and its aftermath are already setting out the basis of another round of violent encounters when next they meet. That is the unfortunate way people and institutions get caught in an unending loop of destructive behaviours to which they become so habituated that they cannot imagine any other possibility of being. There is a need for a rethink in their relationship and approach to each other.

It might sound radical—and even naïve—to suggest they come to a truce, but there are no better alternatives. Also, I do not think the endless cycles of killings and destruction exhaust the possibilities of the relationship between the police and the Shiites. Issues between them are seemingly intractable, but the deaths and destructions are unacceptable. From Kaduna to the FCT, there is hardly ever a time that they are not at loggerheads; their histories are complicated. Nonetheless, it is not so hopeless that this is all there can ever be. There must be a way Shiites can have their numerous processions in peace, and police lives and scarce resources are not needlessly expended. All it takes is moral imagination and the summoning of the right political will.

If there is anything to learn by now, it is that no amount of violence can stop the Shiites from doing their thing. Despite everything they have gone through, they are still not giving up on existing. They are extremely resolute people; nothing the Nigeria police or the military do will stop these people. Their resolve seems unbreakable, and the antagonism strengthens it. In that case, there must be another way beyond the constant clashes: a truce. Rather than the constant clashes that claim lives and property, they should be allowed to believe what they believe, express it as they want to express it, and do so without infringing on the rights of others to live and exist freely. There should be a way for both parties to get to that point—perhaps by seeking mediation. Like I said, given their complex history, it will take a lot of imagination and will to achieve a less tense situation, but it is not impossible.

Finally, this is not to say that the Shiites are guileless, or that they are always the innocent party in every encounter. Nothing is ever that uncomplicated, especially for a group who have had numerous brushes with enforcement agents—many of them which left the trademark “sorrow tears and blood” in its wake. There will be mutual suspicions, and their issues will not magically blow over, but at least there will be fewer deaths and destructions.

Punch

Which of the following resonates more with you: Would you say that you live to work? Or, that you work to live?

Here's another question: What does "good" work look like to you? Is it structured and organized, like following a recipe when cooking a meal? Or do you prefer to trust your gut and go with your instinct?

The way you answer these questions reflects much about your personality. Conscientiousness is one of the "big five" traits in the five-factor model of personality, a widely accepted personality theory.

What is conscientiousness? Why is knowing how conscientious you are important? And what does this personality trait look like in the real world? The answer to those questions will help you to know yourself better and build your emotional intelligence, so you can better understand your emotions and leverage them for good.

What is conscientiousness?

In simple terms, conscientiousness is a personality trait that reflects the tendency to be responsible, organized, and hard-working.

More conscientious people are typically determined and can control their impulses. In other words, they're able to delay gratification--what feels good--to pursue and achieve their goals. They also stick closely to rules and take seriously commitments they've made to others.

In contrast, those who have low conscientiousness are more spontaneous and flexible. They too may be good workers, but they prioritize finding joy in their work and having a good time. Chaotic, messy environments don't bother them, but they dislike rigid structure.

As with other traits, being high or low score Conscientiousness isn't "good" or "bad." Both ends of the spectrum come with inherent strengths and weaknesses.

Why is conscientiousness important?

Understanding the conscientiousness trait can help you better see yourself the way others see you.

For example, do people enthusiastically endorse you as someone who is reliable and trustworthy? Or, are they reluctant to recommend you for work, even if they consider you a friend?

As you learn more about conscientiousness, you'll start to identify which tendencies are holding you back from greater success.

What does conscientiousness look like?

If you have a high level of conscientiousness, you likely value system and order. Following plans, directions, and organizational systems ensures things get followed through to completion and you achieve results. You appreciate when others are structured, too.

Your ability to exercise self-control and delay gratification helps you achieve your goals. If you set your mind to something, you're going to do it. Additionally, your strong sense of duty makes you reliable.

At the same time, though, many people may find it difficult to work with you.

Your commitment to getting things done may make you inflexible, unreasonable, or overly serious. Your attention to detail may make you a perfectionist. What's more, your obligation to deliver on what you've promised--even as circumstances change--can turn you into a workaholic, even putting you on a path to burnout.

What if you have a low level of conscientiousness?

You appreciate a more flexible, open style of working. After all, if there's work to do, why not make it enjoyable? Rather than follow a rulebook or detailed set of instructions, you prefer to figure things out as you go.

Whereas more conscientious people can achieve success through their compliance and follow-through to systems, you can succeed because of your flexibility. You're more creative and open to new methods. Others may appreciate your reasonableness. When things go wrong, you may be easily able to change direction. Further, since you place a priority on fun and a good time, others are likely to enjoy working with you.

But at the same time, you may struggle with achieving your goals or finishing important tasks and projects. You may procrastinate or prioritize the wrong things. If others see you as unreliable, you may get passed over for raises, promotions, or projects.

Inc

More than 31.8 million Nigerians are currently facing acute food scarcity due to insecurity and the removal of subsidy on petrol. 

According to a 2024 report by Cadre Harmonise, the “surge in food commodity prices due to the removal of fuel subsidy in addition to security challenges has placed millions of Nigerians in a precarious situation”.

Julie Osagie-Jacobs, spokesperson of the ministry of budget and economic planning, said the report was presented on Tuesday by the Food and Agriculture Organisation (FAO), Green Action in Enterprises (GAIN), GIZ, and Agsys.

The report also indicated a sharp rise from the 18.6 million people assessed as vulnerable to acute food insecurity in 2023 — by the UN World Food Programme.

Emeka Obi, permanent secretary in the ministry of budget and economic planning, said the meeting was convened to discuss what ministries, departments and agencies (MDAs) are doing to achieve food security in Nigeria.

Obi appreciated the development partners “for their dedication in moving the food system forward in Nigeria while noting that their collective efforts would continually lead to innovative solutions that would strengthen the food systems”.

Sanjo Faniran, national convenor of food systems in Nigeria and director of social development in the ministry of budget and economic planning, said the review meeting aimed “to identify gaps, successes and challenges, offer recommendations as well as peer review, among MDAs”.

The stakeholders advocated for a multi-sectoral approach in tackling food security, adding that all the challenges must be addressed simultaneously.

In July, the National Bureau of Statistics (NBS) said food inflation in Nigeria surged to 40.87 percent.

Nigerians took to the streets from August 1-10 to protest against hunger and ballooning inflation. The country has been grappling with its worst cost of living crisis in decades since President Bola Tinubu ended the petrol subsidy regime and floated the currency in 2023.

The Cable

Nigerians are bracing for tough months ahead, with many planning to rely on borrowing and depleting their savings to manage their financial obligations amid a challenging economic landscape.

This is according to the Central Bank of Nigeria’s (CBN) July 2024 Household Expectations Survey, which highlights growing consumer pessimism about the nation’s economic trajectory.

The survey, which involved 1,665 households from across Nigeria, reveals a stark decline in consumer confidence, with the overall confidence index for the next three months standing at a negative 9.1 points.

This figure reflects a significant level of anxiety among consumers who anticipate a continued decline in economic conditions and family financial situations.

As a result, many Nigerians expect to either draw down on their savings or incur debt to meet their needs during this period.

The CBN report read: “At -9.1 points, consumers overall confidence was pessimistic for the next three months. The pessimistic outlook is attributed to declining economic conditions and declining family financial situation as consumers opined that they will be drawing down on savings or getting into debt. They, however, anticipate improvement in the total family income as the index stood at 1.6 points.” 

Outlook for July and August 

In July 2024, the CBN’s survey revealed a deeply pessimistic outlook among Nigerian consumers, as reflected in the Consumer Confidence Index.

The index for the month stood at -41.7 points, highlighting significant concern over the state of the economy. The negative sentiment captured by this index suggests that a majority of households are facing considerable financial pressures, with many anticipating the need to draw down on their savings or incur debt to manage their living expenses.

Looking ahead to August 2024, the outlook remains bleak, although there is a slight improvement in consumer sentiment.

The confidence index for the next month is projected at -21.8 points, indicating that while consumers are still pessimistic about the future, their outlook is marginally less negative compared to July.

This slight uptick suggests that some consumers may be holding out hope for a modest stabilization or improvement in their financial situations.

Despite the overall pessimism, there is a glimmer of hope as consumers express a slightly optimistic outlook for the next six months, with an index of 2.7 points.

This cautious optimism is driven by expectations of an improvement in both the economy and family incomes by early 2025.

The document reports: “Consumers were optimistic in their outlook for January 2025 as the index stood at 2.7 points. This positive outlook was attributed to anticipated improvement in the economy and expectations of improvement in family income in the next six months.”

Major concerns 

• Key findings from the survey show that consumers are particularly concerned about the rising costs of basic commodities and services, with many expecting these expenses to increase further in the coming months.
• Also, the majority of respondents believe that now is not the right time to make significant purchases, such as consumer durables, motor vehicles, or real estate.
• In terms of inflation expectations, the survey indicates that Nigerians foresee a continued rise in the cost of living, particularly in essential areas such as transportation, medical expenses, and housing.
• The CBN survey also sheds light on consumer attitudes towards interest rates, with a significant portion of respondents expecting borrowing rates to rise in the near future.

What you should know 

Nairametrics earlier reported that the rising cost of living pushed Nigerians to borrow about N4.82 trillion from banks between January and March this year.

• Consumer credit outstanding in Nigeria surged by 268.9% to N8.24 trillion by the end of March 2024, from N3.42 trillion in December 2023, reflecting the severe financial strain on Nigerians due to escalating inflation.
• The surge in consumer credit was primarily driven by a significant rise in both personal and retail loans.
• However, personal loans constitute the largest portion of consumer credit, rising by 270.4% to N7.52 trillion by the end of March 2024.
• Similarly, retail loans saw a significant increase of 253.4%, reaching N721.13 billion.
• This growth indicates a heightened reliance on credit to manage personal finances, with personal loans accounting for a dominant 91.2% share of total consumer credit.

Nairametrics

The Corporate Affairs Commission (CAC) has dissolved the downstream arm of the Nigerian National Petroleum Company Limited (NNPC Retail) and Nueoil Energy from its database, a check by PREMIUM TIMES has shown.

The companies’ dissolution follows the acquisition by OVH Energy Marketing Limited.

Last Week, PREMIUM TIMES reported how a court ruling had effectively dissolved NNPC Retail and transferred its ownership to OVH Energy Marketing Limited.

The NNPC Retail officially no longer exists after it asked a court to transfer its ownership and properties to a firm it claimed to have bought.

An official search by this newspaper shows that the NNPC Retail, with registration number 826223, incorporated on 21 June 2009, and Nueoil Energy with registration number 1902885, incorporated on 8 March 2022, have been dissolved by CAC, while the OVH Energy Marketing Limited with registration number 655791, incorporated on 4 June 2006 remain active.

Speaking to PREMIUM TIMES on Wednesday, an Abuja-based lawyer, Yomi Ogunsanya, said the dissolution by the commission means “the company has been ‘wound up’. It is no longer in existence.”

PREMIUM TIMES reported NNPC Ltd’s controversial purchase of OVH Energy Marketing Limited and how the purchased company essentially took over the management of the buyer, which an NNPC insider described as “the most ridiculous business acquisition in the world.”

NNPC Ltd bought OVH from Nueoil Energy Limited a month after Nueoil Energy acquired OVH in September 2022.

However, in June, the three firms – NNPC Retail, OVH and Nueoil – jointly filed a petition at the Federal High Court in Lagos. In it, they asked the court to grant eight orders, including an order that NNPC Retail “be dissolved without being wound up” and that “the resultant company from the scheme shall be” OVH.

The petitioners further asked that all tax attributes, unutilised capital allowances, tax losses, withholding tax credits and other refunds available, but excluding the Nueoil Energy shares in the OVH Energy Marketing Limited, liabilities and business undertakings, including real property and intellectual property rights of the NNPC Retail and Nueoil Energy Limited be transferred to the OVH Energy Marketing Limited subject to the terms and conditions set out in the scheme without any further act or deed.

The court granted all eight orders, ordering that the merger be effective from 1 January. The court also mandated that all necessary incidental, consequential, and supplemental orders be made to ensure the full and effective implementation of the merger.

Last Wednesday, in his reaction to PREMIUM TIMES report, the candidate of the Peoples Democratic Party (PDP) in the last election and former vice president of Nigeria, Atiku Abubakar, expressed astonishment at the operations of the NNPC Ltd and how the government-owned oil company had put its retail arm under the control of OVH, which he claimed was owned by Wale Tinubu, a relative of President Bola Tinubu.

Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he described as the “criminal hijack of the NNPC by corporate cabals around the current president,” according to the statement signed by his Media Adviser, Paul Ibe, said.

However, the NNPC, in its response to Atiku, said at the time it acquired OVH in 2022, Oando (in which Wale Tinubu has equity interest) had fully divested its equity in OVH to the two other partners, Vitol and Helios.

The NNPC explained that Oando began its divestment in 2016, with Vitol and Helios coming in as equity partners, leading to the change of name from Oando to OVH.

In 2019, according to NNPC Ltd, Oando fully divested its equity interest in OVH resulting in Vitol and Helios holding 50 per cent equity interests respectively.

PREMIUM TIMES reported the divestment by Vitol and Helios from OVH which they sold to Nueoil in 2022. NNPC then bought OVH from Nueoil.

The national oil company said while the merger is still ongoing, NNPC decided to rename the new company as NNPC Retails Ltd.

However, a review by this newspaper of the NNPC response shows that the state-owned oil firm failed to address the crux of PREMIUM TIMES stories.

Background

NNPC Ltd. announced in October 2022 the acquisition of OVH Energy Marketing Limited’s downstream assets. This acquisition would merge OVH Energy with NNPC Retail, a subsidiary of NNPC Ltd.

The assets acquired from the company, which operates Oando filling stations, also include a reception jetty with 240,000 metric tonnes monthly capacity and eight liquefied petroleum gas plants, three lube blending plants, three aviation depots, and 12 warehouses.

But in June 2023, PREMIUM TIMES’ investigation on the acquisition exposed the secret deals and the complicated ownership structure that left managerial control of NNPC Retail in the hands of OVH Energy Marketing.

The report also exposed that OVH Energy Marketing may not have owned as many filling stations as it claimed during the merger talks.

In addition, the report highlighted how Huub Stokman, an expatriate and former Chief Executive Officer of OVH Energy, emerged as the new Managing Director of NNPC Retail, a development that further compounded the structure of NNPC Retail.

It was also found out that the acquisition of OVH Energy had turned NNPC Retail into a toxic workspace, with officials of the former taking over the latter’s running.

“Did we acquire them, or did they acquire us? How come they are now the ones in the management,” one NNPC Retail staff told this newspaper.

In July 2023, the House of Representatives, following the adoption of a motion moved by Miriam Onuoha (APC, Imo), directed NNPC Ltd to suspend the acquisition pending an investigation by its committee.

Consequently, the House set up an ad-hoc committee with Hassan Nalabraba (APC, Nasarawa) as the chairman and commenced an investigation into the controversial deal in September 2023.

The ad-hoc committee requested the NNPC Ltd to furnish it with information about “registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolution of NNPC Ltd on purchase of OVH, Audited Financial Statement and Management Accounts from 2015 to Date OVH, Nueoil, NRL and NNPC Ltd” and the “payroll from 2015 to date for NRL and OVH, Board Resolution of NRL/CHQ for movement of head office to Lagos and evidence of Tax Payments for NRL and OVH from 2015 to date.”

The committee also requested documents on all financial transactions associated with the acquisition, including payment records and fund transfers.

In September 2023, the Group Chief Executive Officer of NNPC Ltd, Mele Kyari, while appearing before the committee investigating the acquisition, said NNPC Ltd now operates like a private limited liability company and entered the commercial relationship with OVH to take over market shares in the downstream petroleum market shares. He said NNPC Ltd did nothing wrong in the acquisition.

Meanwhile, some NNPC Retail ‘concerned staff’, in a letter dated 25 September 2023, addressed to the chairman of the House Committee, and signed on their behalf by Mohammed Muazuo, noted that the request by the committee was not met.

In October 2023, Mr Nalabraba presented a report on the investigation.

In February, the House of Representatives dissolved the committee investigating the controversial acquisition after the panel presented a report many lawmakers described as “suspicious and shabby.” The task was subsequently transferred to the House Committee on Petroleum Resources (Downstream) for a fresh investigation.

In January, NNPC Ltd announced that it was unable to complete the OVH acquisition. It said it intends to apply for operating licenses for the facilities under OVH Energy Marketing Limited.

PT

Afenifere, the Yoruba socio-political organization, has expressed deep concern over the current state of Nigeria under President Bola Tinubu's administration. In a communique issued after their regular monthly meeting, held on Tuesday, August 27, 2024, the group highlighted the distressing condition of the nation, lamenting the pervasive hardship, insecurity, and economic turmoil that have plagued the country since Tinubu took office over a year ago.

The communique, signed by Deputy Leader Oladipo Olaitan and Deputy Secretary-General Alade Rotimi-John, emphasized the widespread disillusionment among Nigerians. Afenifere noted that the public is grappling with severe challenges, including runaway inflation, massive unemployment, and a general sense of hopelessness. The organization described the government's approach as reckless and indifferent, particularly in its handling of public revenue and expenditure.

Afenifere cited several instances of what it termed "profligate" spending by the Tinubu administration. These include the purchase of an Airbus A330 jet for $150 million (N240 billion) for the President, N950 million for new armored Cadillac Escalade Limousines, N21 billion for a new mansion for the Vice President, N90 billion in subsidies for religious pilgrimage, and N10 billion for the renovation of the Presidential Lodge in Lagos. The organization expressed shock at the scale of these expenditures, which it said have contributed to Nigeria's poor international image.

In addition to criticizing the government's spending habits, Afenifere accused the Tinubu administration of employing diversionary tactics to distract the public from pressing national issues. The group pointed to the re-introduction of the old National Anthem and a controversial move to seek a Supreme Court ruling that would make local governments federating units, contrary to the provisions of the 1999 Constitution.

Afenifere also voiced alarm over what it described as a growing threat to press freedom in Nigeria. The group condemned the harassment and detention of journalists who have been critical of the government, urging the administration to respect the constitutional right to freedom of expression as enshrined in Section 39 of the Constitution.

In response to the current state of affairs, Afenifere reiterated its call for comprehensive reforms to improve governance in Nigeria. The group advocated for the implementation of the Oronsaye Report to reduce the cost of governance, the immediate devolution of powers in line with federal principles, and the long-demanded restructuring of the country.

The meeting, presided over by Oladipo Olaitan, concluded with a strong message to the Tinubu administration: address the nation's pressing issues with urgency and foresight, or risk further alienating an already disillusioned populace.

Israeli forces launch strikes across Gaza, push tanks into central Khan Younis

Israeli forces sent tanks deeper into Khan Younis in the southern Gaza Strip and launched strikes across the enclave as they battled Hamas-led militants, killing at least 34 Palestinians on Wednesday, according to medics.

Residents of Khan Younis said Israeli tanks made a surprise advance into the centre of the city, and the military ordered evacuations in the east, forcing many families to run for safety, while others were trapped at home.

Palestinian health officials said the Israeli strikes in Khan Younis killed at least 11 people.

In the central city of Deir Al-Balah, where at least a million people were sheltering, an Israeli airstrike killed eight Palestinians near a school housing displaced families, medics said.

In Nuseirat, in the central Gaza Strip, journalist Mohammed Abed-Rabbo was killed along with his sister in an Israeli attack on their house, medics said. Gaza's Hamas-run government media office said Abed-Rabbo's death raised the number of Palestinian journalists killed by Israeli fire to 172 since Oct. 7.

In recent days, Israel has issued several evacuation orders across Gaza, the most since the beginning of the nearly 11-month-old war, prompting an outcry from Palestinians, the United Nations, and relief officials over the shrinking of humanitarian zones and the absence of safe areas.

The Israeli military said it ordered the evacuation in areas where Hamas and other militants staged attacks, including rocket firing into Israel.

The armed wings of Hamas and the Islamic Jihad said fighters were engaged in clashes with Israeli forces in different areas across the territory, firing anti-tank rockets and mortar fire.

More than 40,500 Palestinians have been killed in the war, according to Gaza's health ministry. The crowded enclave has been laid to waste. Most of its 2.3 million people have been displaced multiple times and face acute shortages of food and medicine, humanitarian agencies say.

Reuters