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Access Pension To Merge With ARM After Majority Stake Acquisition — FCCPC

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The Federal Competition and Consumer Protection Commission (FCCPC) says Access Pensions Limited will merge with ARM Pension Managers Limited for an “enhanced service offering”.

FCCPC, in a notice on Wednesday, said the merger followed Access Pension’s acquisition of an 81.82 percent majority stake in ARM Pension, a subsidiary of ARM Traditional Asset Management Limited.

The acquisition will be finalised through a scheme of merger between both companies, according to the commission.

Access Pensions is a pension fund administrator (PFA) incorporated in Nigeria and licensed and regulated by the National Pension Commission (PenCom).

The firm’s principal activity is pension fund administration involving the management of retirement savings accounts and legacy funds.

“After the acquisition, the acquirer (Access Golf Nigeria Limited)  intends to effect a merger of the target (ARM Pension) with Access Pensions Limited (Access Pensions)” the statement reads.

“The target in addition to Access Pensions activities also offers other pension products and services including: retirement advisory; programmed withdrawal; micro pension, and additional voluntary contribution.

“Following the acquisition, ARM Pension and Access Pensions (the merging entities) will merge and become one entity.

“The merger will be consummated through a scheme of merger (the scheme). Under the terms of the scheme, ARM Pension will transfer all its assets, liabilities and undertakings to Access Pensions.

“The merger of ARM Pension and Access Pensions will create a pension fund administrator with assets under management (AUM) of just over N2.22 Trillion. The expected revenue and cost synergies are material and promise significant long-term value.

FCCPC also said the merger would provide customers with an enhanced service offering, support the rollout of micro pension products and provide a better overall customer experience.

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COALITION: We’ll Register New Party As Backup To ADC — El-Rufai

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A leader of the Social Democratic Party, SDP, and an important figure in the opposition coalition, Nasir El-Rufai, stated that a new political party would be registered as a backup for the African Democratic Congress, ADC.

El-Rufai explained that the new party would serve as an alternative option to guard against potential infiltration by the All Progressives Congress, APC, into the ADC.

The opposition coalition had chosen the ADC as its platform on Wednesday.

However, El-Rufai noted that there is a possibility the APC could spark a crisis within the ADC by turning old members against the new leadership.

He revealed this during an interview with Radio France International (RFI) Hausa Service on Wednesday night.

“Those who refuse to join the APC face threats of investigations by agencies like the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other related offences Commission (ICPC), or Code of Conduct Bureau (CCB).

“The opposition parties’ alliance in the ADC is temporary, and we may register a new party as a second option, which we will move to should the ADC be instigated into crisis by the government,” the former Kaduna governor stated.

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BIG STORY

Real Estate Industry Experts, Stakeholders Raise Alarm Over Building Collapse In Lagos, Seek Urgent Reforms

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The recurring tragedy of building collapse in Lagos once again came under the spotlight today as stakeholders from across Nigeria’s building industry gathered at the University of Lagos for the Professor Leke Oduwaye-Adron Homes Urban Development Dialogue, a high-level forum aimed at addressing regulatory and construction lapses fueling the crisis.

Themed “Recurring Building Collapse in Lagos: The Challenge of Regulatory Oversight and Construction Practices,” the dialogue was organized by the Department of Urban and Regional Planning (DURP), University of Lagos, in collaboration with real estate giant, Adron Homes.

Delivering goodwill remarks, the Group Chairman of Adron Group, Sir Aare Adetola EmmanuelKing, KOF, issued a strong call for accountability across the building sector. Describing building collapse as a “tragedy that has become far too familiar,” Aare Adetola Emmanuelking emphasized that such disasters are not acts of fate but direct results of human negligence, greed, and systemic failure.

“Buildings do not collapse by accident. They collapse because somewhere along the chain of planning, approval, construction, or supervision, individuals choose to compromise,” he stated firmly”, he stated.

The respected real estate mogul outlined what he termed the three uncompromising actions needed to combat the menace, Verification, Validation, and Control, stressing that all actors within the building industry must be held to the highest standards of competence and ethical responsibility.

The event featured a thought-provoking guest lecture by Tpl. (Dr.) Idris Salako FNITP, former Lagos State Commissioner for Physical Planning and Urban Development. Drawing from his vast experience, Dr. Salako delivered a hard-hitting analysis of the root causes of building collapse in Lagos. He identified critical gaps such as weak enforcement of development control regulations, poor coordination between regulatory agencies, and widespread disregard for approved building plans by some developers.

Dr. Salako further highlighted how political interference, corruption, and the proliferation of quack professionals continue to erode the integrity of the building sector. He stressed the urgent need for capacity building among regulatory bodies, proper training and certification of artisans, and the full digitalization of building approval processes to ensure transparency and efficiency.

The dialogue also featured keynote addresses by Tpl. Tunji Odunlami FNITP, Ogun State Commissioner for Physical Planning and Urban Development, and Professor Ayo Omotayo, Director General, National Institute of Policy and Strategic Studies, Kuru. Both speakers echoed the need for proactive urban planning, robust regulatory frameworks, and collaboration between government, professionals, and private developers to create safer cities.

Other dignitaries in attendance included Tpl. Waheed Kadiri FNITP, PPNITP, Past President, Nigerian Institute of Town Planners (Chairman of the event), Professor Modupe Omirin, Dean, Faculty of Environmental Sciences, UNILAG, Dr. Taofik Salau, Head of Department, DURP, UNILAG, and Dr. S.A. Adeyemi, Chairman, Organizing Committee, among several others.

Participants unanimously called for urgent reforms to curb building failures, emphasizing the need for professionalism, transparency, and stricter enforcement of building regulations.

The dialogue is expected to spark renewed policy debates and strategic actions toward ensuring that Lagos, and indeed Nigeria, builds safe, resilient, and sustainable urban spaces where lives are protected, and dreams can thrive.

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Federal Government Sets July Date For Petrol Pricing Summit

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The Federal Government has scheduled July 23 and 24, 2025, for a national stakeholder forum aimed at addressing rising concerns surrounding petrol pricing and supply issues in the downstream sector, amid increasing pressure from independent marketers for price regulation.

The summit, which is being organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, will gather industry players, marketers, refiners, and government representatives to discuss petroleum pricing standards, feedstock availability, and measures to stabilise the deregulated market.

Francis Ogaree, the Executive Director of Hydrocarbon Processing Plants, Installation and Transportation Infrastructure at the NMDPRA, confirmed the summit’s dates during the recently concluded 24th Nigeria Oil and Gas Energy Week held in Abuja.

He also stressed the importance of dialogue to create a sustainable pricing framework in the post-subsidy environment. It should be noted that petroleum marketers have raised concerns about unexpected changes in the price of Premium Motor Spirit, also known as petrol, particularly without prior notification from the Dangote refinery.

Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria, has consistently advocated for a stable market and reliable energy supply, calling for mechanisms to evaluate price changes and protect the industry from negative impacts.

Gillis-Harry also emphasised the need for transparent pricing, especially concerning the effect of Dangote’s price cuts on retailers who may have bought petrol at higher rates. He called for fair pricing practices and urged an end to unfair industry practices.

Likewise, the Petroleum and Natural Gas Senior Staff Association of Nigeria last month criticised the current petroleum pricing structure, accusing marketers of taking advantage of Nigerians with inflated pump prices. The association insisted that the current petrol price should fall between N700 and N750 per litre.

In response, Ogaree stated that the NMDPRA recognises the operational uncertainties affecting industry stakeholders and has taken significant steps to standardise pricing and attract more investments in local refining.

Speaking during the panel session titled, “Building a resilient and competitive refining sector”, he said, “We are engaging stakeholders at our forum, where we address the issues and proffer solutions. I would like to remind you that the NMDPRA has only been in existence for three and a half years. And in that period, we have achieved giant strides in the number of licenses we have given and in addressing the issues.

“Even on the issue of petroleum pricing, which is another one that we are facing now and relates to standardisation. It is a work in progress, and that is why at the latter part of this month, exactly on July 23 to 24, a two-day event, we will be talking about petrol pricing. Again, that is to allay some fears and put in some standards. The issue of pricing, everyone knows that it is a sensitive one and peculiar from one country to another, and the authority is working.”

On the topic of refining capacity and supply security, Ogaree disclosed that Nigeria currently has 10 refineries that are either operational or close to starting operations, including the three NNPC refineries, the 650,000bpd Dangote refinery, and six modular refineries.

He explained that some upcoming refineries will require between 1,000 and 200,000 barrels per day and are projected to begin operations by 2026.

“We have about 10 refineries right now. The three Nigerian National Petroleum Company refineries. We have Dangote refinery and six modular refineries. When I look at the combined capacity for those refineries, we need about 1,124,000 barrels per day.”

However, he pointed out that the success of the downstream sector depends largely on having enough crude oil feedstock to serve the growing number of licensed refineries.

“We know our current production capacity. These are just operating refineries. When I think about new refineries coming up very soon. Some of them need 200,000 barrels to 1,000 barrels, and I compute them together. Some of them would be on onstream by 2026.

“You know that this number of barrels has to grow, and there has to be more production if we are to meet up. The apparent fear, and I must be sincere, is on the feedstock. We have given out 47 licenses, all of which are to do establishments, construction, and they all go into operation. We must be able to meet their demands when they all go on stream.”

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