Headlines
‘Why fuel scarcity, long queues persist in Nigeria’

Lack of adequate investment in the downstream sector has been fingered as the cause of the perennial fuel scarcity and its attendant long queues in filling stations across the country.
The Chief Executive Officer, CEO of Pinnacle Oil and Gas Limited, Peter Mbah stated this, weekend, while speaking to State House correspondents shortly after the company paid a thank-you visit to President Muhammadu Buhari at the Presidential Villa, Abuja.
Chief Mbah, who is the Peoples Democratic Party, PDP, governorship candidate in Enugu State in the forthcoming election, said in order to bridge the gap, Pinnacle Oil and Gas has invested about a billion dollars to address the stagnation of investment in the downstream sector.
Asked whether the country will ever get over the intermittent scarcity it witnesses every time, the Industrialist said that with the intervention of his company and investments from other Nigerians in the downstream sector, the problem will be a thing of the past.
He said, “There has been a deficit in the set of investments Pinnacle has done in the last decades. But what we’re doing right now, is to address that stagnation of investment in the downstream oil and gas industry.
“This is an investment size of about a billion dollars. So we are expecting to see more of such investments because what the Pinnacle has done is create some efficiency in the supply and distribution value chain of the downstream sector.
“So we are indeed expecting that more investment in the downstream sub-sector would completely eliminate the sort of scarcity we are witnessing today.”
Asked what he came to do at the nation’s seat of power, Chief Mbah said he alongside his team came to show appreciation to Mr President for accepting to inaugurate the company’s storage terminal adjudged to be the largest storage terminal in West Africa.
He said the offshore intake of the storage terminal is also adjudged to be the deepest intake facility in entire Africa.
According to him, “We, Pinnacle Oil and Gas limited, have come here to express our profound gratitude and our heartfelt appreciation to Mr. President.
“You will recall that on the 22nd day of October 2022, Mr. President inaugurated our storage terminal adjudged to be the largest storage terminal in West Africa, with offshore intake facilities also adjudged to be the deepest intake facility in the entire Africa, sitting at a water depth of 23 meters.
“So we do have SPM (Single Point Mooring), and CBM
(Conventional Buoy Mooring).
Those are the offshore facilities we have. Those facilities have the capability to take the largest vessels, you can imagine and discharge over 100 million liters of clean petroleum products within 24 hours.
“This is typically what takes the industry 32 days to discharge. So we have largely come here to express our gratitude to Mr. President, for the honor he gave us in inaugrating this largest facility, which has actually changed the face of the industry, because it has eased as you know, this facility is located at the Lekki free zone, just by the Dangote refinery.
“So what it has done, it has eased the congestion and the gridlock we have at the Apapa area in Lagos. It has also reduced the cost of supply and delivery of petroleum products in different parts of the country. It has also provided jobs for teeming unemployed Nigerians. So this is why we thought it necessary to come and say thank you to Mr. President.”
Headlines
China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).
The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.
Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.
The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.
Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.
Headlines
Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.
Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.
“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”
He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.
Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.
In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”
He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.
Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.
Headlines
Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.
Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.
“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”
The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.
Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.
“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.
The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.
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