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Our attention has been drawn to a scandalous and defamatory publication by an online newspaper, Premium Times, alleging without any foundation whatsoever, that our company maintained a corrupt relationship with the erstwhile Nigerian Minister for Petroleum Resources, Mrs Diezani Alison-Madueke.
 Any objective reader of the article would readily come to the irresistible conclusion that the publication is, to all intents and purposes, prejudicially designed to tarnish the image and reputation of the company as well as that of our Executive Vice Chairman.
 As some of these matters are sub-judice, we are unable to comment entirely on all issues raised.
However, global best practice demands that we tender this rebuttal for the sake of shareholders, host communities, over 11,000 people who derive their livelihood from the company and the general public.
 At no time in our company’s history, has any of our directors or employees ever been involved in any form of criminal or immoral business, other conduct or activity with the former Petroleum Minister, any NNPC or other government staff or agent. Aiteo never benefitted from the Strategic Alliance Agreements referenced in the article.
We were a major player in the Nigerian oil sector importing petroleum products for NNPC and exporting naphtha, fuel oil and condensates and already a flourishing and prosperous group by any standards long before Mrs Alison-Madueke’s appointment as Minister of Petroleum Resources.
Aiteo’s core area of business has been the trading and distribution of sundry petroleum products since its inception in 1999.  Furthermore, the NNPC has publicly confirmed that no Aiteo entity is indebted to NNPC or any of its subsidiaries.
The article purported that Aiteo has been linked to the alleged 2015 INEC bribery scheme but failed to state in which way it arrived at this conclusion simply because no such reality exists. It is only those seeking to deliberately besmirch the hard-earned reputation of Aiteo as Nigeria’s foremost indigenous oil and gas company that will dubiously link the company, in the manner that the publication has done.
 It is with respect to their false inferences concerning OML 29 that the true motive of the authors of the publication comes to light.
The truth is that the sale of OML 29 to the Aiteo Consortium by Shell, was conducted under international best practices, with Aiteo emerging as the preferred bidder due to its superior technical and commercial competence.
The rigor and transparency under which the bid was conducted by the owners of the purchased interest, Shell, Total and Agip, made it unnecessary and impossible for anyone to influence the outcomes inordinately.  These allegations are therefore wrong and should not have been published.
That Aiteo is able to announce a production increase of 400% from about 23kbpod a year ago to averaging over 90kbpod, is a testament to the technical robustness of our work force and the prudence and professionalism of our management team.
Despite our open-door policy to media enquiries, the authors claimed to have attempted to contact us several times.
However, it is a shame that none of those efforts extended to using the contact details on our corporate website. We have long seen this coming, as it is apparent to Aiteo and any keen observer, that there is vested interest behind the unsavoury publications, and that there is an orchestrated campaign of calumny on an international level against an indigenous company that has gone global in outlook and outreach.
 We are now left with no choice but to consider legal action against organisations who have or will allow themselves to be irresponsibly and unlawfully used in this smear campaign.
 Aiteo Group’s contribution to the overall financial capacity of the country cannot be overemphasised. Our activities have contributed several millions of US Dollars to the country’s coffers and led to direct foreign investment worth more than US$4 billion, in addition to several other corporate social investments.
Despite laborious struggle to present Aiteo as a corporate entity with questionable credentials and poor track record in the industry, we make bold to say that our business is driven by a commitment to integrity, transparency and accountability, and that commitment is the cornerstone of our resilience and accomplishments, and which underpins Aiteo’s resolve to provide Nigeria consistently with integrated energy solutions that power the future.

BIG STORY

President Tinubu Orders Reintroduction Of History In Basic School Curriculum

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Tunji Alausa, the minister of education, says President Bola Tinubu has reaffirmed that “history” should and will be reintroduced as a subject in Nigeria’s basic schools.

“History,” reports indicate, was removed from Nigeria’s basic school curriculum in 2007, eliciting sharp criticism that spanned years.

In many cases from then on, historical topics were taught with little depth as part of “social studies.”

In 2018, the federal government ordered the nationwide re-introduction of “history” as an independent subject in the curriculum of primary and junior secondary schools in the country.

Adamu Adamu, the then minister of education, had stated that the Nigerian Education Research and Development Council (NERDC) would need to first carry out a disarticulation of “history” from the social studies curriculum.

He said a curriculum would be designed with topics to help students appreciate “history” as a national integration and nation-building tool.

The ex-minister said a total of 3,700 “history” teachers were shortlisted for the first round of training to enhance the teaching of “history.”

Education ministries at the state level, including those of Lagos and Taraba, have since been moving to implement the federal policy.

Tunji Alausa spoke on a Tuesday Channels TV show where he expressed concern that Nigeria’s youth are disconnected from its “history.”

“Let me go to basic education, the curriculum is good. What has been missing in the past is Nigerian “history.” We now have people of 30 years disconnected from our “history.” It doesn’t happen in any part of the world,” the minister said.

“President Bola Tinubu has mandated that we put that back in our curriculum and that is back. From 2025 our students in primary and secondary schools will have that as part of their studies.”

While validating the federal policy of re-introducing “history” as a basic school subject, the former minister Adamu Adamu argued that its absence had led to declining morals, erosion of civic values, and a disconnection of the citizenry from the country’s past.

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2025: President Tinubu’s Reforms Will Unlock Nigeria’s Potentials — First Lady To Nigerians

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The First Lady of Nigeria, Senator Oluremi Tinubu, has expressed optimism about the nation’s future, describing 2025 as a year of “prosperity and abundance.”

In a New Year message to Nigerians posted on X on Wednesday, she called for unity and renewed efforts toward building a thriving nation.

Tinubu emphasised the need for collective investment in rebuilding societal bonds and fostering inclusivity across all regions and demographics.

She urged Nigerians to rise above divisions and work toward mutual respect and understanding.

“As we journey through 2025, let us rise above our differences and rebuild the bridges that connect us—bridges of love, respect, and understanding.”

“It is a year to invest in one another; to nurture our youth and protect the dignity of our elders; to create a country where every Nigerian can thrive, regardless of where they are born, what they believe, or what language they speak,” she said.

The First Lady highlighted the administration’s commitment to ongoing economic reforms aimed at unlocking Nigeria’s vast potential under the leadership of President Bola Tinubu.

She stated, “I assure you all that the administration of President Bola Ahmed Tinubu, GCFR is truly committed to and is already undertaking deepening reforms that will unlock our nation’s economic potentials.”

Senator Tinubu encouraged Nigerians to stand together and support one another, pledging that the government remains steadfast in its vision for a prosperous nation.

“Together, we can build the Nigeria we all desire. Together, we will. Happy New Year, Nigeria,” she added.

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BIG STORY

Federal Government To Establish Credit Guarantee Company, Targets 15% Inflation In 2025

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President Bola Tinubu says his administration will establish a National Credit Guarantee Company before the end of the second quarter (Q2) of 2025.

Tinubu spoke on Wednesday during his New Year speech.

The president said his administration would consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“In 2025, our government is committed to intensifying efforts to lower these costs by boosting “food production” and promoting local manufacturing of essential “drugs” and other “medical supplies,” he said.

“We are resolute in our ambition to reduce inflation from its current high of 34.6% to 15%. With diligent work and God’s help, we will achieve this goal and provide relief to all our people.

“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

“The company—expected to start operations before the end of the second quarter—is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and the Ministry of Finance Incorporated, the private sector, and multilateral institutions.”

Tinubu said the initiative would strengthen the confidence of the financial system, expand credit access, and support underserved groups such as “women” and “youth.”

The president also said the company would drive growth, reindustrialisation, and better living standards for Nigerians.

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