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PWAN DENOUNCES FALSE CLAIMS OVER MR. SCOTT IGUMA’S ARREST

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In response to a series of misleading and widely circulated social media posts, PWAN has  distanced itself from the recent arrest and detention of Mr. Scott Iguma.
According to the statement issued by PWAN, it  stated that the company has nothing to do with Mr. Iguma’s arrest and detention.
”We wish to state unequivocally that PWAN, as a private corporate entity, neither has the authority nor has ever exercised any power to arrest or detain any individual. The suggestion that we are responsible for Mr. IGUMA’s current legal challenges is entirely false, malicious, and deeply misleading.

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While it is true that Mr. Iguma has, in recent months, waged a sustained smear campaign against PWAN, we have consistently responded with professionalism, restraint, and full adherence to legal channels. Despite persistent provocations and the dissemination of falsehoods, we extended multiple invitations to Mr. IGUMA for peaceful dialogue—offers he publicly declined, as evident in his social media posts.

We must emphasize that social media is not an appropriate venue for resolving legal disputes or grievances. There are recognized legal and institutional channels for such matters, which PWAN has always respected.

According to information reliably available to us, Mr. Iguma is currently being held for allegedly evading lawful police invitations and for a reported altercation with law enforcement officials at Panti. These events are unrelated to PWAN and occurred independently of any involvement or directive from our organization. We understand that these issues were brought before Justice Oghazi of the Federal High Court, Lagos Division, during Mr. IGUMA’s recent arraignment.

We urge the public, media outlets, and social commentators to refrain from amplifying unfounded allegations. Let the judicial process unfold transparently and without interference.

PWAN remains firmly committed to integrity, the rule of law, and the continued advancement of Nigeria’s real estate sector through ethical, transparent business practices.

We thank our partners, clients, and stakeholders for their continued trust and support. Truth does not scream—it endures”

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NGX Hits Record High as Dangote Cement Shares Jump 9.8%

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The Dangote Cement rally helped Nigeria’s stock market gain N1.75 trillion, pushing NGX market capitalisation to a record N164.91 trillion (more…)

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Tinubu Vows to Revive Nigeria’s Dormant National Refineries

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President Bola Tinubu has reaffirmed the Federal Government’s commitment to rehabilitating and repositioning Nigeria’s dormant national refineries, declaring that the facilities will not be allowed to become stranded assets.

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Tinubu was represented by the Permanent Secretary of the Ministry of Petroleum Resources, Mrs Patience Oyekunle, at the 20th OTL Africa Downstream Energy Week in Lagos on Monday.

The President said the government is adopting a more rigorous and commercially sustainable approach to the rehabilitation of the Port Harcourt, Warri and Kaduna refineries.

“At the same time, the government remains committed to ensuring that existing national refining assets are not allowed to become stranded investments,” the statement said.

“We are pursuing a more rigorous, commercially sustainable approach to the rehabilitation and repositioning of our refineries, supported by technical assessment, stronger partnerships, and improved operational discipline.”

The objective, according to the administration, is for Nigeria to refine more of its crude oil, create greater domestic value and become a reliable supplier of energy to Africa.

The national refineries, managed by the Nigerian National Petroleum Company Limited (NNPC), have remained largely inactive for years despite significant spending on turnaround maintenance. The NNPC has signed a memorandum of understanding with Chinese firms as part of ongoing efforts to revive the facilities.

Tinubu also noted the contribution of private refining capacity, particularly the Dangote Refinery, which has reached its 650,000 barrels-per-day nameplate capacity, in strengthening Nigeria’s prospects of becoming a net exporter of refined petroleum products.

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NNPC Records ₦7.2tn Profit as Tinubu Receives 2025 Report

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Tinubu receives NNPC’s 2025 audited report as profit after tax rises 33% to ₦7.2tn, with revenue reaching ₦34.5tn and dividend at ₦5.8tn (more…)

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