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Ini Dima-Okojie has always had an interest in storytelling and arts. When she was young, whenever she watched award shows, she would imagine herself receiving an award. At the same time, Dima-Okojie was very shy, so she didn’t think she would pursue a career in acting. She was working in investment banking until one day, she watched the trailer of a Nigerian show and was instantly bitten by the acting bug. At that point, she knew she had to follow her passion, resign from investment banking, and attend film school. After film school, she went to many auditions, but nothing came through, so she took a job as a production assistant, telling herself she would at least have a foot in the industry. While working as a production assistant, an opportunity opened up for a role in a telenovela called Taste of Love; she got the part, which was the beginning of her acting career. She admits that she wasn’t very confident at first; in fact, she was trembling, but after a scene, the director walked up to her to commend her. That simple gesture gave her the confidence she needed, coupled with the fact that they filmed frequently. The rest, as they say, is history.
Read Ini Dima-Okojie’s story on pages 8 to 10.
I was very excited about Captain America: Brave New World until I read the review on page 16. There are no spoilers. I’ll let you read it and possibly watch the movie; maybe you will have a different view from our movie correspondent. While on that page, click on the instructions beneath the QR codes to download our playlist curated just for you. I promise you’ll enjoy it.
Until next week, enjoy your read.
Photo: Kola Oshalusi
@insignamedia Makeup: Zaron
OnahNwachukwu Editor, THEWILL DOWNTOWN
SUNDAY, FEBRUARY 23, 2025 THEWILL NEWSPAPER • www.thewillnews.com
THEWILLNIGERIA
SUNDAY, FEBRUARY 23, 2025
THEWILLNIGERIA
COVER TINUBU 2027: Osun Like Lagos and Rivers
BY AMOS ESELE
The anxiety and tension that followed the conduct of Saturday’s local government polls in Osun State has heightened the expectations of the result about to be announced any time from today, Sunday, February 23, 2024.
In open defiance of the warning by the Federal Government and the Nigeria Police Force’s, the state government enabled the Osun State Independent Electoral Commission, OSSIEC, to go ahead with the poll despite additional pressure from the police which locked up the Commission’s office and turned back journalists who went there to collect accreditation tags.
The Labour Party and Allied Peoples Movement in the state announced their withdrawal from the poll due to lack of adequate security arrangement by the Commission for the peaceful conduct of the election.
Like the ongoing House of Assembly leadership crisis in Lagos State and the prolonged supremacy battle between Governor Siminalayi Fubara and Federal Capital Territory Minister, Nyesom Wike, for the control of political structures in Rivers State, the political conflict in Osun State between the ruling Peoples Democratic Party, PDP, and the main opposition All Progressives Congress, APC, can be linked to next year’s election.
In Osun, the tenure of the elected Chairmen expires in November 2025, barely seven months to the governorship polls coming up in July 2026.
“I wonder where they (OSSIEC) will tell you they conducted the election from because the police sealed their office.” Spokesperson of the opposition All Progressives Congress, APC, Kola Olabisi, told THEWILL on Saturday. “Anyway, there are no vacancies in the 30 local government areas of the
State. Five days ago, we wrote a letter to the OSSIEC saying we are not taking part in the poll because the Appeal Court in Akure jurisdiction had restored the elected Chairmen to their offices. If a king does not die, there is no vacancy in his throne. Besides, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi had advised the state government to obey the Appeal Court ruling and shelve the polls.”
Indeed, the AGF, Fagbemi, a Senior Advocate of Nigeria and the Inspector-General of Police, Kayode Egbetokun, made legal and security representations to the government against holding the poll. Yet the state government went ahead with the election.
According to the Nigeria Police Force, which urged the government to suspend the planned elections, there was convincing intelligence analyses that interested groups had mobilised to “unleash unrest, disrupt public peace and undermine the democratic process.”
Force Public Relations Officer, ACP Olumuyiwa Adejobi, said at the weekend, “The Nigeria Police Force has received credible intelligence indicating a high likelihood of violence and significant security threats, should the planned local government elections proceed in Osun State. These reports sourced through joint intelligence gathering reveal that various groups, including political elements and other interested parties, are mobilising to instigate unrest, disrupt public peace and undermine the democratic order.”
The NPF, ACP Adejobi said, strongly advised the Osun State Government to suspend the planned elections in the interest of public safety and national stability.
AGF Fagbemi, SAN, on his part warned the state government to obey the Court of Appeal ruling, which
TINUBU 2027: Osun Like Lagos and...
Representatives seats, and managed to win one out of 26 seats in State House of Assembly.
After his defeat in the 2022 governorship poll, Oyetola hurriedly conducted a local government poll before his successor Adeleke was sworn into office, a strategic attempt to retain power at the grassroots. This led to a series of litigations that has now become a subject of multiple interpretations until, perhaps, the Supreme Court intervenes through an originating suit and restates the matter.
Moreover, the exit of a former governor of the state, Ogbeni Rauf Aregbesola, from the party alongside his group, Omoluabi Progressives in January has complicated matters for the APC. Given its grassroots presence, the group’s exit from the APC has changed the political dynamics in the state ahead of the 2026 governorship poll and by extension, the importance of the state in the political calculations for 2027.
It is not clear if Oyetola, who is the current Minister of Marine and Blue Economy, will run for a second term in the 2026 governorship poll, but his deep involvement in the politics of the state is due to his position as the leader of the APC there.
“I cannot talk about the politics of the 2026 governorship election or that of 2027. The issue at stake for us now is the local government poll, which the Appeal Court ruling has restored to our party.” Olabisi said.
Probably involved with the conduct of the LG poll, media aides to the governor and PDP party chieftains could not be reached for comments.
However, Adeboro Adamson, a Senior Advocate of Nigeria, who commented on developments in the state at the weekend, said the State High Court ruling that ordered the conduct of the poll has opened another legal issue that would certainly be challenged in the days ahead. According to him, the February 10 Appeal Court ruling is valid until it is vacated.
Friday’s State High Court ruling in Ilesa directing OSIEC to conduct the poll “is a pre-election matter that will be challenged in the coming days,” he said. “Governors are desperate to control local government councils to maintain their grip on their states. It is the trend in many states. They brook no opposition. Look at Anambra State, for example. At a time in the state, the Young Progressive Party, YPP, had a Senator, a House of Representatives member and three members in the State House of Assembly. Yet in a local government election, it won no seat in the local government. How possible is that?”
LAGOS AND RIVERS
Similarly, unfolding events in Lagos State have all the characteristics of the 2027 general election at the governorship and presidential levels. THEWILL checks show that the ongoing leadership crisis in the State House of Assembly following the stiff resistance of a majority of the members against attempts by the impeached Speaker, Mudashiru Obasa to reclaim his seat has not only sharply divided groups and interests in the state but also created a logjam that is testing the patience of many stakeholders.
A seeming battle line is being drawn between the two major groups within the APC, which are angling for political dominance in the state, the Mandate Group is mainly composed of President Bola Tinubu’s loyalists, including Obasa and Justice Forum, filled by members loyal to former Minister of Interior, Aregbesola.
On the surface, many members from both groups maintain a united front against Obasa for what many say was his slight on Governor Babajide Sanwo-Olu and members of the influential Governor Advisory
Council, GAC, on many occasions as well as his governorship ambition.
Deep down, however, the embattled Speaker currently enjoys some support even from members of the GAC, drawn from both groups, including those who have publicly declared that he has the right to challenge his removal in a manner they considered not fitting.
“It is all about elections, who occupies what office and when. For now, things are too complex. You have the President’s interests. You have the governor’s interest, the legislator’s interest, the party’s interest and the GAC interest. It is so complicated now that you have to be careful what you say so as not to be caught in the ongoing web of intrigues. But I can assure you that they have a machinery in place to resolve all the issues,” the official said anonymously.
A presidential aide who confided in THEWILL said the attempts to link Obasa’s fight for reinstatement because of presidential support is misplaced, though he agrees that the politics of 2027 is the background to the intrigues that are playing out.
The aide said, “The only problem as far as the president is concerned is that he was not carried along about the whole thing, although Obasa was aware of what was coming. Why did he hide the mace before he travelled?”
He said the stakeholders are currently pleading with President Tinubu to allow Mojisola Meranda to remain speaker and allow Obasa to go. After all, he said, all members of the Assembly were elected as representatives of their constituencies and none was elected a Speaker, whose office is the result of an internal process agreed upon by the lawmakers. There is a proposal, he disclosed, that is being considered to give the former speaker ‘a soft landing’, whereby If he chooses to resign from the Assembly, a federal appointment would be given to him while no petition against him should be forwarded to the Economic and Financial Crimes Commission, EFCC.
The stakeholders are said to have pledged their loyalty to the President while demanding that Obasa be allowed to go. They are said to have argued against having a divided house ahead of the 2027 poll, recalling a similar crisis that nearly spelt doom for the party during the era of a particularly aggrieved governor whose public approval rating was so high that his threat to defect amid differences and contest for a second term on another platform had to be resolved through some concessions and commitments. Nonetheless, a consensus is yet to be reached on the ex-Speaker.
Contacted for his reaction to the development, a top government official in Lagos told THEWILL that though the matter is looking complicated because of several interests involved, there is a structure in place to eventually resolve all the issues.
Until we stop seeing politics as business transactions, until we concentrate more on delivering good governance to the people, I am afraid, these will remain as they are. Today, 90 per cent of those of us seeking political office do not know why we are going there “
In Rivers State, the ongoing supremacy battle for control of political structures between Governor Siminalayi Fubara and Federal Capital Territory Minister, Nyesom Wike, reverberated on Friday when the PDP suspended the holding of the SouthSouth zonal congress of the party in Calabar, Cross River State, while it approved those slated to hold in the North-West and South-East on Saturday, February 21, 2024. Organiser of the congress, Chief Dan Orbih is currently on suspension as National Vice Chairman, South-South. He is also a prominent member of the Wike camp.
However, conflicting court judgements at the weekend gave another twist to the party’s directive. While the presiding judge of the Rivers State High Court, Justice G.V Obomamu, issued an interim order restraining Chief Orbih from conducting the zonal congress and adjourned to February 28 for hearing on the Motion on Notice, Justice Omotoso of the Federal High Court, Abuja, on the same day refused to grant an ex parte order to stop the zonal congress from holding in Calabar. He asked all parties to maintain the status quo as of February 20, 2025, while adjourning to March 4, 2025, for hearing of the pending motion on notice. Contacted, the National Publicity Secretary of the Party, Debo Ologunagba, declined calls to his phone.
Meanwhile, the seven-member Rivers State House of Assembly led by Rt. Hon. Victor Oko-Jumbo, started an oversight tour of the 23 local government areas in the state at the weekend unchallenged. OkoJumbo said they have the mandate to make the state work for the good of the people and the tour was an indication that governance had fully returned in the state.
WAY FORWARD
Commenting on the ongoing political crisis in Lagos, Osun and Rivers, National Chairman of the Inter-Party Advisory Council of Nigeria, Alhali Yusuf Dantalle, told THEWILL that the challenge facing Nigerian political leaders is how to separate politics from governance. They are hardly settled into office after being sworn-in, then they begin to think of the next election instead of concentrating on governance.
“Until we stop seeing politics as business transactions, until we concentrate more on delivering good governance to the people, I am afraid, these will remain as they are. Today, 90 per cent of those of us seeking political office do not know why we are going there. Many of us go into political offices because of the thinking that it is our turn to be leaders. Unfortunately, we have a population that is unenlightened, and this has allowed the elite to weaponise poverty for their selfish interests. That is why at the IPAC, we continue to call for the politics of service,” he said.
He warned that with the era of social media, the people may wake up one day and challenge the status quo. “The other day we had ENDSars and then the protest against hunger. We pray that we do not end up with an uprising. We need to make our country work for our people. You saw how former Head of State, Ibrahim Babangida during the week admitted to some error in governance during his time. I hope we will learn from him and know that decisions must be taken with firmness for the good of the people.”
L-R: Director, Learning and Development, Nigerian Institute of Management, NIM (Chartered), Mr. Jide Oshin; Director, Membership Service, Mr. Abayomi Folarin; Registrar/Chief Executive, Mrs. Taiwo Olusesi; President and Chairman of the Council, Commodore Abimbola Ayuba (rtd); Governor of Lagos State, Mr. Babajide Sanwo-Olu; NIM council member, Commodore Sunday Oguntade (rtd); immediate past Administrator, Mr. Akinlolu Iroko and Head of ICT, Mr. Abayomi Anifowoshe, during a courtesy visit to the governor by the governing council of NIM at Lagos House, Marina, on February 20, 2025.
NEWS
Emefiele Not Owner of Forfeited $4.7m, N830m, Properties – Legal Team
BY FELIX IFIJEH
The legal team of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has refuted mediareportsclaimingthatJusticeYellimBogoroof the FederalHighCourt,Lagos,ordered the final forfeiture of $4719054 N830875611 and propertiesallegedly ownedbythe forme rapexbankchiefonFriday
Justice Bogoro, onFriday, granted a final forfeitureorder on the funds and assetslinkedtoAnita Joy Omoile, CEO of Deep BlueEnergyServicesLimited
AstatementsignedonFriday,byOlawaleFapohunda,Esq ,on behalfofthe legal team, dissociated Emefielefrom ownershipoftheforfeitedfundsandassets
The statement clarified thatDeepBlueEnergyLimited, establishedin2009,isownedbyarelativeofEmefiele,notbythe formerCBNgovernorhimself
It reads: “Our attention has been drawn to recent news reports indicating that Justice Bogoro of the Federal High Court, Ikoyi, Lagos, has granted a final forfeiture order on certain properties allegedly linked to one Anita Joy Omoile and her companies, including Deep Blue EnergyLimited
“It isimportant toclarify thatDeepBlueEnergyLimited, established in 2009, isowned bya relativeofour client, Mr GodwinEmefiele,butnotbyMrEmefielehimself
“Fortheavoidanceofdoubt,we,asthelegalrepresentativesof GodwinEmefiele, categorically dissociateour client fromtheownershipoftheassetsinquestion Foremphasis,the assetsinquestiondonot belongtoour clientorany memberofhisimmediatefamily
THEWILL recalls that a Federal High Court in Lagos, presided over by Justice C J Aneke, had on May 14, 2024, vacated the interim forfeiture order sought by the Economic and Financial Crimes Commission (EFCC), on the funds and properties belonging to Anita Omoile, CEO of DeepBlueEnergyServicesLimited
However, in a determined effort to target the funds and assets, the anti-graft agency, after losing before Justice Aneke, filed another ex parte application before Justice BogoroonMay24,2024.
According to EFCC counsel, Bilkisu Buhari-Bala, the disputed funds are held in First Bank, Titan Bank and Zenith Bank, operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exactquote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd; and TIL
CommunicationNigeriaLtd.
The propertiesinclude 94units ofan11-storey building under constructionat2,OtunbaElegushi2nd Avenue (formerly ClubRoad),Ikoyi,Lagos;AMPlaza,an11-storey officespace located at1E, OtunbaAdedoyinCrescent, Lekki Peninsula Scheme1,Lagos;Imore IndustrialPark 1,Esa Street, ImooreLand, purchased withDeepBlue IndustrialTown, OriadeLCDA, Amuwo OdofinLGA, Lagos;Mitrewood and TatlerWarehouse (FurniturePlant atBogije) nearElemoro,Lagos,Owolomi Village,IbejuLekki LGA,Lagos;Two propertiesacquiredfromChevron Nigeria,ClosedPFA Fund, Block B,Lot Twin, Completed Property, Lakes Estate, Lekki;One plotmeasuring 1,038.069 sqm atLekki Foreshore EstateScheme, Block A,Plot4,Foreshore Estate, Eti-Osa LGA;Anestatelocated at100,CottonwoodCoppelTexas Drive,Coppel, Texas, owned byLipam InvestmentServices; A landat1,Bunmi Owulude Street(Maruwa), Lekki Phase 1,Lagos;and A propertysituatedat8,BayoKukuRoad,Ikoyi,Lagos.
GrantingthefinalorderonFriday,JusticeBogorostated,“I holdthatAnita Omoileisa close associate ofthe formerCBN governor, GodwinEmefiele. Consequently, I findthatall the moniesand propertieslistedinthe scheduleare finally forfeited tothe Federal Government of Nigeria.”
TroopsEliminate82Terrorists,Arrest198,Rescue93Hostages
Nigerian military troops have eliminated 82 terrorists, arrested 198 suspects, including 22 involved in oil theft, and rescued 93 kidnapped victims in various operations conducted nationwide between February 14 and 21, 2025. Director of Defence Media Operations, Major General Markus Kangye, disclosed this while providinganupdateonrecentsecurityoperations.
He noted that troops of Operation Delta Safe in the South-South region intensified efforts to curb oil theft, recovering stolen crude and illegallyrefinedproductsvaluedatoverN587million.
were freed.” Kangye further detailed the success of operations in the South-South, where security forces thwarted oil theft worth an estimated N587,190,740.
Troops recovered 366,530 litres of stolen crude oil, 117,320 litres of illegally refined diesel, and 600 litres of kerosene.
They also dismantled 38 crude oil cooking ovens, 27 dugout pits, 22 boats, two speedboats, 60 storage tanks, 34 drums, and 32 illegal refining sites. Additional seizures included three pumping machines, a tricycle, three motorcycles, five mobile phones, and two vehicles.
“Furthermore, information reachingussuggeststhat Justice Aneke ofthe sameFederal HighCourt,Ikoyi,Lagos, had previouslydischargedaninterim forfeitureorder onthe sameassetsnowforfeitedbyHonourableJusticeBogoro
“We urgeall stakeholdersand members ofthe publicto takenoteofthisclarification and stopassociating these assetswithMrGodwinEmefiele ”
He stated, “During the week under review, troops, in collaboration with security agencies and hybrid forces, carried out multiple operations, including raids, ambushes, clearance patrols, searchand-rescue missions, and air interdictions. These efforts led to the elimination of several terrorists, the arrest of their collaborators, and therescueofabductedindividuals.
“BetweenFebruary14and21,atotalof82terroristswereneutralized, 198 suspects were apprehended, and 22 individuals involved in oil theft were taken into custody. Additionally, 93 kidnapped victims
Troopsalsoconfiscatedasignificantcacheofarmsandammunition, including 46 AK-47 rifles, 18 locally fabricated guns, 19 Dane guns, three pump-action rifles, 1,165 rounds of 7.62mm special ammunition, 128 rounds of 7.62mm NATO, 600 rounds of 12.7mm ammunition, and 51 cartridges.
The military reaffirmed its commitment to sustaining operations against terrorism, oil theft, and other criminal activities nationwide.
NEWS
Days of Military Rule in Nigeria Are Over – IBB
BY ABDULLAHI YUSUF
Former military president, General Ibrahim Badamosi Babangida, has described military intervention in Nigerian politics as an aberration, declaring that “the days of military rule in Nigeria are over.”
Popularly known as IBB, Babangida made this statement in his autobiography titled: “A Journey in Service”, which was launched on Thursday in Abuja, as reported by THEWILL.
Babangida, who served as a military president after overthrowing the junta of General Muhammadu Buhari on August 17, 1985, noted that Nigeria has witnessed five military coups since 1960, with the last one occurring in 1993.
“First, let me restate my position on the matter. Military coups d’état, that is, the overthrow of an incumbent government, whether as redemptive or corrective measures, are an aberration and should never be encouraged. Indeed, coups in the context of a democracy such as ours are not just unacceptable; they are illegal.
“Appropriate sections of the Nigerian Constitution insist that ‘Nigeria shall not be governed, nor shall any persons or group of persons take control of the Government of Nigeria or any part thereof, except in accordance with the provisions of the Constitution.’
“For the umpteenth time, let me repeat: the days of military rule in Nigeria are over. Again, before I am misunderstood, let me reiterate my position”, IBB declared in the opening paragraph of page 105 in Chapter 3 of his book.
He attributed several coups in Nigeria and across Africa to the failures of civilian governments.
“I do not suggest that military interventions, which can be undue interferences in the politics of a country, are replacements for incumbent governments. Nor do I imply that the military is the guarantor of good behaviour; far from it. All that I
suggest is that coups don’t just happen. They are sometimes inspired by extraneous conditions that demand interventions. Generally, the abject failure of civilian governments is the cause of coups. Therefore, a fairer assessment of why the armed forces seized power should not be based on their success or failure to deliver once they took over, but on the various factors and events preceding the intervention.
“Military takeovers are not peculiar to Africa or isolated to Nigeria. The history of post-colonial Africa shows that where civilian leadership and the political class have failed to live up to their responsibilities and progressively build upon the legacy of the colonialists, the military has attempted to step in. In some cases, these interventions have been nothing short of revolutionary. For instance, on July 23, 1952, Lieutenant-Colonel Gamal Abdel Nasser and 89 other Free Officers staged an almost bloodless coup d’état in Egypt, which ended the reign of King Farouk. That action, as popular and revolutionary as it turned out to be, was the first known coup d’état in post-colonial Africa. In sixty years, fueled by despotic, shortsighted, and uninspiring leadership, Africa has experienced at least 230 coup attempts since then. In 2022 alone, over 40 of Africa’s 54 nations were said to have witnessed one or more coup attempts.
“Neither do I suggest that the military is without blame for how we arrived at where we are today as a nation. But to claim that military intervention was irredeemably disastrous is grossly unfair.
“Those who are quick to accuse the Nigerian military of being no more than spoilt brats who merely fought to perpetuate themselves in power must never forget that, as trained military officers, we, too, invested our lifetimes, our youth, hopes, dreams and energy in the promise of a great country.”
Niger Delta Sports Festival: NDDC Inaugurstes Central, Local Organizing Committees
BY AMOS OKIOMA
Ahead of the Niger Delta Sports Festival the Main Organizing, And the Local Organizing Committees Required For The Successful Hosting Of The Maiden Edition Of The Niger Delta Sports Festival Have Been Inaugurated In Port Harcourt, The City Capital Of Rivers State.
The Niger Delta Sports Festival; A Flagship Sport Development Program of The Niger Delta Development Commission NDDC, In Partnership With Dunamis Icon Limited; The Consultants, Is Aimed At Harnessing Talents For Human Capital Development In The Niger Delta Beyond Oil.
Performing The ceremony at the NDDC Headquarters on Friday, the Executive Director, Finance And Administration At The NDDC, A Former Commissioner of Sports In Rivers State and Chairman of the Main Organizing Committee of the Festival, Alabo Boma Iyaye Enjoined members of the various committees to see their nominations as opportunity to serve their region, while appealing to them to show commitments and seriousness in their charges.
Iyaye noted that the festival which is the first of its kind in the country must not fail to live up to its expectations, which is, the discovery of talents in all sporting segments from the Niger Delta region. Members of The Central/Main Organizing Committee inaugurated today are selected from both the NDDC and The Consultants as follows; Alabo Boma Iyaye - Chairman, Itiako Ikpokpo - Co-Chairman, Davies Okerevu, Barr. Salami Okogie, Barr. victor Arenyeka, Mrs. Seladi Wakama, Allwell Egwurugu, Onome Obruthe, Ono K. Akpe, Eniofioke Udo-Obong, Ochuko Igbigbisie, Fred Edoreh, Mr. Paul Bassey and Lady Rose Bassey.
Also inaugurated as Chairmen of Sub-Committees of the Local Organizing Committee are; Mr. Enefiok Udo-Ubong - Technical; Engr. Evong Moduck Evong - Accommodation; Mr. Israel Ummerri - Transportation; Dr. George Uzonwanne - Medical Services; Mr. Edger Okpozo - Security; Mr. Kufere EtukudoFacilities/Equipment; Chinyere Clara Braide - Protocol Services; Mrs. Inyang Etim Udoh - Catering Services; Mr. Richard Mode Damijo - Cultural Expo; Mr. Iwuala Harrison - Media/Publicity; Mr. Godwin Enakhena - Scouting/Mentorship Program And Dr. Eyibrayila Ladi Awofeso - Secretariat Services.
The Nine Commissioners Of Sports From The Nine Mandate states of the Niger Delta region, which includes Rivers, Cross River, Akwa Ibom, Bayelsa, Imo, Abia, Delta, Edo and Ondo are equally inaugurated members of the Main Organizing Committee to oversee their various States Liaisons of the Festival.
Representative of the Head of the Civil Service of the Federation/ Permanent Secretary, Special Duties Office, Mr. Ogbodo Anam (2nd right), Director OHCSF, Mrs. Adenike Iwajomo (middle), Director OSGF, Mr. Ogunmefun Abiodun Emmanuel (6th left), Director CSID, Ms Muinah Aderibigbe (4th left) and other participants, during a one-day workshop on International Travels for Protocol Officers in core MDAs in Abuja on February 19, 2025.
L-R: Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Mr. Temi Popoola; Minister, Federal Ministry of Housing & Urban Development, Arc. Ahmed M. Dangiwa; President and Chairman of Council, Nigerian Institution of Estate Surveyors and Valuers (NIESV), ESV Victor Alonge and Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga, during the 2025 Fellows’ Induction Compendium of NIESV at Eko Hotel and Suites, Victoria Island, Lagos on February 21, 2025.
ASUU Tasks President Tinubu, Ododo on Measures to Prevent Trailer Accident
The leadership of Academic Staff Union of Universities , Federal University Lokoja, chapter, has urged President Tinubu to urgently take actions that will prevent recurrence of the incessant articulated vehicles accident along the Federal University corridor of the Okene- Abuja expressway.
This is as, the Union has commiserated with the Management, families of the deceased students, their colleagues and the entire University community over the loss of five students in the ghastly accident that occurred on Monday 17th January, 2025.
In a Press Release signed by the Chairman of Asuu- Ful, Dr. Joshua Silas and made available to Journalists in Lokoja at the weekend, noted that the Union is grieved by the terrible untimely death of their beloved students, in an accident by a heavyduty vehicle which crushed a mini-bus transporting students to the University.
The statement indicated that the deaths of these young, promising lives is a heartbreaking tragedy, as their thoughts and prayers are with their families at this terrible time.
The ASUU- chairman assured that the Union stands in solidarity with the whole student body as they mourn the death of their colleagues.
He lamented that this accident is not the first time that students and members of the university community have met such awful ends on this treacherous highway, stressing that the frequency of its occurrence is of grave concern and requires immediate action from all relevant stakeholders.
According to him “ it is clear that a lack of appropriate infrastructure, including student hostels and staff quarters on university grounds, forces a large number of students and staff to commute everyday over this perilous roadway, exposing them to unnecessary
dangers. “In view of this repeated tragedy, ASUU-FUL urges both the Kogi State Government and the Federal Government of Nigeria to work with the university Management on finding long-term solutions to this problem.
“We demand for immediate construction of Student Hostels and Staff Quarters as Many students and staff are compelled to live off-campus due to insufficient housing at the institution. The construction of hostels and staff quarters will dramatically reduce the number of individuals who commute every day, lowering their exposure to traffic risks.
“Enhancement of Security on Campus to Improve campus security would not only make the learning environment safer, but, it will also forestall the danger of abduction and other criminal activity on campus. This will make living on-campus more attractive.
“Construction of a Dedicated Truck Lane or Bypass on the Abuja-Lagos highway which is one of the country’s busiest and highest-risk routes. We encourage the government to designate a separate lane for heavy-duty vehicles or build a bypass to move truck traffic away from important commuter routes and opening a Road through the University to Link Felele and Agbaja road .
“This will help decongest traffic on the highway and provide a safer commuting route for students and staff. Regular Enforcement of Road Safety Measures by the government, in collaboration with appropriate agencies should be stepped up by road safety enforcement officers who shall ensure all heavy-duty trucks follow all applicable laws to avoid incidents of this sort” He solicited.
While reiterating that the safety and well-being of students and faculty members must be prioritized, the ASUU boss urged President Tinubu as the visitor of the University to commence immediate action to prevent future avoidable deaths of the students.
Gov Yusuf
Named Best Governor in Education By New Telegraph Newspapers
Kano State Governor, Abba Yusuf, has been named Nigeria’s Best Governor of the Year 2024 in Educational Development by the New Telegraph Newspapers.
The award was presented in Lagos by the newspaper’s publisher and former Abia State Governor, Sen. Orji Uzor Kalu, alongside former Edo State Governor, Adams Oshiomhole.
According to a statement by the Governor’s spokesperson, Sanusi Bature, the event, attended by top dignitaries including the Group CEO of the NNPC, Mele Kyari, highlighted Governor Yusuf’s unwavering commitment to education and his administration’s drive for sectoral transformation.
Represented by his Special Adviser on State Affairs, Usman Bala, a former Head of Service, and the State Commissioner for Information, Ibrahim Waiya, the governor expressed gratitude for the recognition.
He reiterated his administration’s dedication to prioritizing education and implementing key reforms to strengthen the sector.
Yusuf was among eight governors selected for the honour, including the governors of Ekiti, Sokoto, Lagos, Ondo, Ogun, Borno, Delta, and Osun states.
His selection was based on his administration’s education-focused policies, including the declaration of a state of emergency on education, sponsorship of 1,001 postgraduate students abroad, recruitment of teachers, provision of classrooms, instructional materials, desks, and chairs, as well as allocating 29.5% and 31% of the total budget to education for 2024 and 2025, respectively.
The Kano State delegation at the event included the Commissioner for Information, Ibrahim Waiya; Special Adviser on State Affairs, Usman Bala; DirectorGeneral of Protocol, Abdullahi Rogo; and DirectorGeneral of Media and Publicity, Sanusi Bature Dawakin Tofa.
BY JOSEPH AMEDU, LOKOJA
BY ABDULLAHI YUSUF
All 31 Proposed States Fail Constitutional Requirements – Reps Tinubu to Unveil Two Empowerment Programs in Southeast
BY FELIX IFIJEH
The House of Representatives has disclosed that all 31 proposals for new states failed to meet constitutional requirements for consideration.
Deputy Speaker Benjamin Kalu, who also chairs the House Committee on the Review of the 1999 Constitution, made this known on Friday during a two-day retreat for committee members in Ikot Ekpene, Akwa Ibom State. The Committee had announced on February 6 that it received requests for the creation of new states across the country.
However, speaking at the retreat, Kalu acknowledged that while these demands reflect the aspirations of various communities, none of the proposals met the legal criteria necessary for further consideration. Although we have received 31 requests for state creation, none of them satisfied the constitutional requirements for amendment.
Therefore, we have extended the submission deadline to March 5, 2025. However, this retreat may decide whether to further extend the timeline, depending on the challenges encountered by petitioners in meeting the required conditions.
adhere to Section 8 of the Nigerian Constitution.
The House Committee on Constitution Review had earlier outlined the conditions that must be met for a state creation process to commence. Any proposal for state creation must receive the support of at least two-thirds of the National Assembly. The request must also secure approval from the House of Representatives, the State House of Assembly representing the concerned area, and the Local Government Council within the proposed state.
In line with Section 8(3) of the Constitution, the outcome of referendums conducted by State Houses of Assembly must be submitted to the National Assembly before any request can be considered. The Committee also directed that all proposals be resubmitted in strict compliance with these constitutional provisions.
BY SUNDAY OGBU
The Senior Special Assistant to President Bola Tinubu on Community Engagement (Southeast), Mrs. Chioma Nweze, at the weekend announced plans to launch two major empowerment initiatives aimed at uplifting communities in the region.
Nweze disclosed in Abakaliki, Eteh Ebonyi State capital, that the programs, titled Skill-Up South East Through Fashion Training and Health Initiative, will officially kick off on March 8, 2025, at the Vocational Centre, Uburu, Ohaozara Local Government Area.
Kalu added that at the end of the retreat, the committee would evaluate whether an additional extension is necessary. However, he emphasised that all applications must strictly
Petitioners are required to submit three hard copies of their memoranda to the Secretariat of the Committee at Room H331, House of Representatives, National Assembly Complex, Abuja. Electronic copies must also be forwarded to the Committee’s official email. With the submission deadline now extended, the Committee emphasized the need for petitioners to ensure full compliance with constitutional requirements before submitting their requests.
Lt. Gen. Useni Laid to Rest in Langtang Amid Military Honours
BY UKANDI ODEY, LANGTANG
The remains of former Minister of the Federal Capital Territory (FCT), Lt. Gen. Jeremiah Timbut Useni (rtd.), were laid to rest in his hometown, Letam Village, Langtang North Local Government Area of Plateau State, following a funeral service at COCIN RCC, Langtang.
Useni, who passed away in France on January 22, 2025, was buried with full military honours in a ceremony attended by Plateau State Governor, Barr. Caleb Manasseh Mutfwang, former governors, ministers, members of the National Assembly, top military officers, and other dignitaries.
President Bola Ahmed Tinubu, represented at the event by the
Minister for Humanitarian Affairs and Poverty Reduction, Nentawe Yilwatda, described the late Useni as a patriot who dedicated his life to the service of Nigeria, working tirelessly to ensure the country’s unity.
In his tribute, Governor Mutfwang noted that Useni’s final days were marked by a strong commitment to the virtues of forgiveness and reconciliation. He urged Nigerians to embrace these values, emphasizing their role in fostering peace and harmony in society.
The final interment took place at about 1:27 p.m. Witnesses described the influx of visitors and heightened activity in Langtang as reminiscent of the burial of former Chief of Defence Staff, Gen. Domkat Bali, four years ago.
She extended an invitation to key stakeholders, including Southeast governors, to participate in the event. According to her, the first initiative, Skill-Up South East Agenda: Unveiling Fashion Potentials, is a four-month free tailoring and fashion training program designed to harness the creative potential of youths in the region.
Beneficiaries will receive free accommodation for the duration of the training, modern tailoring equipment, and training in video editing to enhance media skills. The program will also provide mentorship from industry experts, along with business development support and the opportunity to pitch business plans.
The second program, which aligns with President Tinubu’s vision for promoting healthy communities, will focus on free healthcare services in collaboration with the David Umahi Federal University of Health Sciences and the Ebonyi State Government.
The initiative will provide six months of free cancer screening, free eye testing and prescription glasses for the first 200 patients, and one year of free dialysis treatment.
L-R: Former President Goodluck Jonathan, former Head of State, Yakubu Gowon, President Bola Ahmed Tinubu (middle), Former President Ibrahim Gbadamosi Babangida (Author) and Former President Olusegun Obasanjo at the book launch of IBB’s authobiography, A Journey in Service, at Transcorp Hotel, Abuja on February 20th, 2025.
POLITICS
IBB’s Book Opens New Chapter in Nigeria’s Democracy
BY FELXI IFIJEH
Asad chapter in Nigeria’s march to democratic governance opened for more scrutiny on Thursday, February 20, 2025 when former military President, GeneraI Ibrahim Badamosi Babangida (Retd.) publicly admitted that the late Chief Moshood Abiola, the candidate of the Social Democratic Party (SDP), was the winner of the Presidential Election held on June 12, 1993, but that he was forced by interests beyond his control to annul it. General Babangida, also known as IBB, was Head of State from August 1985 to August 1993.
The annulment of the election was a watershed in Nigeria’s democratic history, precipitating a long drawn political crisis which snowballed through the succeeding regime of Gen Sani Abacha and culminated in the latter’s and Abiola’s deaths in 1998. Babangida made the admission during the public presentation and launch of his autobiography entitled, ‘A Journey in Service: An Autobiography’, at the Transcorp Hilton Hotel in Abuja.
Former Vice President Yemi Osinbajo reviewed the book, while Chairman of the occasion, former President Olusegun Obasanjo, who also chaired the event, delivered the keynote address. In his address, IBB, said, “However, the tragic irony of history remains that the administration that devised a nearperfect electoral system and conducted those near-perfect elections could not complete the process. That accident of history is most regrettable.”
Speaking to the most controversial aspect of the book, the annulment of June 12 1993 presidential election, he said, “Although I am on record to have stated after the election that Abiola may not have won the election, upon deeper reflection and a closer examination of all the available facts, particularly the detailed election results…there was no doubt that MKO Abiola won the June 12 election.
“Upon closer examination of the original collated figures from the 110,000 polling booths nationwide, it was clear that he satisfied the two main constitutional requirements for winning the presidential elections, mainly majority votes and geographical spread, having obtained 8,128,720 votes against Tofa’s 5,848,247 votes and securing the mandatory one-third of the votes cast in 28 states of the federation, including Abuja.”
“Unfortunately, the forces gathered against him after the June 12 elections were so formidable that I was convinced that if he became President, he would be quickly eliminated by the same forces who pretended to be his friends,” he added. “The nation is entitled to expect my impression of regret. As a leader of the military administration, I accept full responsibility for all decisions taken under my watch. Our nation’s march to democracy was interrupted, a fact that I deeply regret. But Nigeria and democracy is still alive, a testament to commitment.”
The former military Head of State also addressed a yet-to-be rested case involving the death of frontline journalist, Dele Giwa, killed by a parcel bomb during his regime. “The Giwa, like all mysterious murders, has remained unsolved after so many years. I keep hoping it will be uncovered in our lifetime or after us.” Providing insights into the book, the reviewer, former VP Osinbajo, SAN, disclosed that Babangida admitted that annulling the June 12 election was one of the most difficult decisions of IBB’s career.
VP Osinbajo added an irony of history when he recalled the role played by President Tinubu alongside other pro-democracy forces like the National Democratic Coalition for NADECO, for the revalidation of June 12 election results in favour of MKO. He said, “When Babangida annulled the 1993 elections and Abacha took over, dissolving the Senate, that senator tried to reconstitute the Senate in resistance to the dissolution. He was detained, faced charges in court and escaped into exile.
Today, he is also here to celebrate with his former tormentors as President Bola Ahmed Tinubu.”
Despite the controversial annulment, however, Babangida expressed satisfaction that former President Muhammadu Buhari posthumously recognised Abiola as the rightful winner of the election by bestowing upon him the Grand Commander of the Federal Republic (GCFR), Nigeria’s highest national honour, reserved exclusively for presidents. To show that with his IBB’s public admission has opened a chapter in the national history, former President Obasanjo said Babangida should expect criticism from many quarters in the days ahead.
He said, “The book will be reviewed, read, quoted, praised and lambasted. Some will agree with you in part and some will disagree with you in part. some may even wholly disagree with you. Why should you write the book? It is self-glorification. They will say. Controversy may even develop. It’s all good for you and good for the book and our nation-building process, the more praised and condemned the book is, the better because it means that it is being read.” He urged the former Head of State to be ready to take every criticism with calm.
“Please don’t be unduly worried about critics and the put-himdown syndrome. It may even be an indication of success, but take note of objective criticism. You should expect a reaction galore. The reaction will be good, bad and ugly.” Civil War Head of State, Gen. Yakubu Gowon, who wrote the foreward in the book had said something similar to Obasanjo’s warning, “Given the monumental and historical changes that General Babangida presided over, it is only natural that many Nigerians of different generations would be eager to learn first-hand the motivations and reasons behind these farreaching decisions, events, some of which shook the nation to its very foundation,” Gowon wrote.
In his remarks, President Bola Tinubu said the former leader’s admission of Abiola’s victory will help to set the records properly. “I am glad about the revelation of June 12. My General, we will not forget to pray for you. I listened to you carefully. I am not here to read a speech. I am here to pay homage,” he said, adding: “Without you, people like me will not be in politics. I thank you for your progressive revolution.”
Even so, IBB’s relevance to the ongoing process of nation
building was underscored by former president Goodluck Jonathan who said that despite being retired from active politics, the hilltop home of the former military Head of State was still a political Mecca to politicians in the country. “Ibrahim Bagandiga, as we all know, is one of the most charismatic leaders in this country. He is somebody that people go to consult as if they are on a pilgrimage,” Jonathan said at the event which also doubled as the launch of Babangida’s presidential library.
“In terms of leadership, Nigerians know you have contributed significantly in terms of the infrastructure development of this country and social mobilisation. We cannot write the history of Nigeria without dedicating a reasonable part to your service as the president of Nigeria. You have done well!” Jonathan continued. Like Obasanjo said, the book has started generating reactions. The Organising Secretary of the Pan-Yoruba social and political group, Afenifere, Kole Omololu, stated that “Babangida’s acknowledgement of the election’s credibility did not absolve him or his associates of the monumental and irreversible damage caused by the annulment.”
Abiola’s daughter, Hafsat Abiola-Costello, said, “For those who kept expressing doubt that Nigerians had spoken so decisively on that day, I am glad that General IBB’s admission that MKO Abiola won the election can now lay the matter to rest. It is sad that such a galvanising statement as the breakthrough vote for MKO should have been truncated by an unjust annulment.”
Various dignitaries and businessmen, such as the Chairman of the Dangote Group, Aliko Dangote and the Chairman of BUA Group, Abdulsamad Rabiu, launched the book with N8bn and N5bn each. Dangote pledged to donate N2bn annually for four years for the construction of the IBB Presidential Library. Senator Sani Musa, representing Niger East Senatorial District, donated N250m; the Fidelity Bank leadership launched the book with N150m, Senate President Godswill Akpabio sent in N50 million and Speaker of the House of Representatives, Tajudeen Abbas donated N20 million, while Businessman Arthur Eze donated N500m.
Other dignitaries at the occasion were General Abdulsalami Abubakar; as well as former Vice Presidents Atiku Abubakar and Namadi Sambo, immediate past President of Ghana, Nana Akufo-Addo, governors. Ex-Minister of Transportation, Jaji Sambo, represented former President Muhammadu Buhari and delivered a congratulatory message, expressing hope that Babangida would continue offering valuable counsel to Nigeria’s leadership.
“
The nation is entitled to expect my impression of regret. As a leader of the military administration, I accept full responsibility for all decisions taken under my watch. Our nation’s march to democracy was interrupted, a fact that I deeply regret. But Nigeria and democracy is still alive, a testament to commitment
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ICPC and Pension Thieves
TThe recent disclosure by the Chairman of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, Dr. Musa Adamu Aliyu, SAN, that the commission recovered over N20 billion siphoned through fraudulent ghost workers’ pension schemes in 2024, sounds like a broken record
he recent disclosure by the Chairman of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, Dr. Musa Adamu Aliyu, SAN, that the commission recovered over ₦20 billion siphoned through fraudulent ghost workers’ pension schemes in 2024, sounds like a broken record.
Much as we salute Dr. Aliyu’s explanation that the ICPC uncovered the fraudulent insertion of workers in some Ministries, Departments and Agencies, MDAs, as part of its preventive activities and commend the Commission for uncovering corrupt practices regularly, we hasten to say that this is a familiar path that the Commission needs to depart from so that it would be seen to be serious.
Indeed, that the ICPC Chairman made this disclosure during the “Editors’ Breakfast Meeting with ICPC Chairman,” an interactive session organised by the ICPC for media executives in Abuja, a fortnight ago, raises the question whether the meeting was not just another media jamboree.
Why do we say so.? The answer is to be found in part of Aliyu’s address at the occasion.
“Over the years, ICPC has followed a communication strategy guided by Section 36 and Section 27(4) of the 1999 Constitution (as amended) and the Corrupt Practices and Other Related Offences Act, 2000. These legal provisions safeguard suspects’ rights. While we remain firm and meticulous in our duties, we are equally committed to upholding the rule of law and human dignity,” he said and simplistically added that “the Commission is not seeking public validation but rather remains focused on delivering measurable results based on its Strategic Action Plan (2024-
2028).”
Although Dr. Aliyu is speaking in 2024, he sounds like his immediate predecessor, Mr. Ekpo Nta. What he avoided to say was disclosed by Nta in 2015. During a scheduled visit to the Supreme Court in that year, Mr. Nta noted that the Commission discovered that some commercial banks provided their platforms for pension thieves to steal billions of naira without any regard for banking regulations.
He cited one of the indicted commercial banks in the pension scam that allowed an individual to open 22 accounts with one picture, but 22 different names.
Nta said, “The banking sector is becoming much more regulated. Our investigation activities have shown that the Know Your Customer (KYC) regulation is not really being adhered to. That is why we found a pension scam where a bank has opened an account for a 22- year old whose mandate reads pensioner.
‘And we found out in the same bank that one person using one picture, has 22 accounts with different names. We are also moving against the bank. We have charged them to the courts.”
Nta who also counted some of the achievements of the Commission in the fight against corruption, told the Justices that the ICPC needed their support in matters of interpretation of the necessary laws to aid the Commission’s prosecution. According to him, the ICPC has a very robust approach to the prevention of corruption, hence it was seeking collaboration with agencies to develop platforms to block corruption and added that the Integrated Personnel Payroll System (IPPS) has reduced the incidence of
OPINION
2027: Thoughts on Opposition Machinations
BY TUNDE RAHMAN
Opposition politicians have revved up their engines again ahead of the 2027 General Election. They are busy meeting, engaging in visitations, regrouping and strategising under various platforms. And recently at a two-day event in Abuja themed “Strengthening Nigeria’s Democracy: Pathway to Good Governance and Political Integrity,” some of these opposition figures huffed and puffed, upbraiding the present government and disparaging President Bola Tinubu and the governing All Progressives Congress.
Some of them, like the former Vice President Atiku Abubakar, have taken advantage of various public speaking opportunities to condemn the government’s policy options and decisions, but offered little or no alternative course of action.
This is dismaying. During the Second Republic when the defunct Unity Party of Nigeria leader, the late sage Chief Obafemi Awolowo, was the Leader of Opposition, he would dissect the policies of the National Party of Nigeria government of President Shehu Shagari, cut it down into granular details and offer clear, convincing and actionable alternatives.
Awolowo’s interventions provided useful solutions that would have bolstered Nigeria’s economy and enriched our democracy, but unfortunately, that era lasted only four years and three months as the military struck.
President Tinubu has barely spent two years in office. Yet, political opponents have upped the ante in a desperate move to grab power in 2027.
ballot and in court.
However, they have continued to carry on as if the 2023 election cycle has not ended. In this group are former VP Atiku and former Labour Party presidential candidate, Peter Obi. Their depleting rank of supporters, called the Atikulated and Obidents, are in league with them in this cantankerous behaviour.
The second group is made up of some erstwhile APC chieftains who claim to still belong in the party but have constituted themselves into opposition elements within.
GENERALLY, THE OPPOSITION SEEMS TOO UNCOORDINATED AND LACKS FOCUS. ANY ALLIANCE BY SUCH GROUPS CAN ONLY BE FICKLE AND FISSIPAROUS. THESE OPPOSITION POLITICIANS ARE BEING DRIVEN BY PERSONAL AMBITION, NOT THE INTEREST OF THE COUNTRY
The latest move in this direction was the visit last week of the defeated Peoples Democratic Party candidate in the 2023 presidential election, former Vice President Atiku Abubakar, to former President Olusegun Obasanjo at his Abeokuta, Ogun State hilltop residence.
Atiku was in company with former Sokoto State governor Aminu Waziri Tambuwal, former Cross River State governor Liyel Imoke and Senator Abdul Ningi from Bauchi State, all of the crisisridden PDP.
The former Vice President claimed the meeting had nothing to do with 2027. Anyone who believes him on that will believe anything. There was also the New Nigeria People’s Party leader, Senator Rabiu Musa Kwankwanso, who travelled all the way to Lagos from Kano to confer with former Osun State governor, Rauf Aregbesola on issues believed to be in connection with 2027. Ogbeni Aregbesola is leading the Omoluabi Group in Osun.
Three sets of opposition groups are discernible at the moment. One group comprises President Tinubu’s opponents in the 2023 presidential election who have refused to see and perhaps may never see, anything good in the present government, hard as the administration works to reverse the past mistakes and dwindling fortunes of the country.
These men contested the last election with the President and were roundly defeated, both at the
Bitter and vicious, they include former Minister of Transportation Rotimi Amaechi and some others who rightly or wrongly feel entitled to political appointments and government patronage. Amaechi had detached himself from the APC since he lost out at the APC primaries in August 2022.
The last group is composed of former APC leaders who are completely out of the party but now vigorously working against the party’s interests. Ogbeni Aregbesola belongs in this group.
These three groups of opposition figures are working to take over power in 2027. They are aiming at forming a coalition to unseat APC. None has been consummated as of this time.
It is relevant to ask: why are opposition parties in our climes unduly fixated about taking over power? It may be argued that the zero-sum nature of our politics, the winner-takes-all syndrome, is a contributory factor.
But then, the role of opposition parties in a democracy is much more crucial. It is critical in determining the level of accountability and acceptability of governing parties as well as the overall quality of a country’s democracy.
In his seminal work on the “Role of Opposition Parties in Developing Democracies” published in a journal by Democracy Works Foundation, Williams Gumede posits that,“Opposition parties provide alternative visions, policies, and leaders to the governing party. They scrutinise government decisions, policies, and actions – and play oversight over the executive and the public administration. They defend the voters’ interests – not only their constituencies, but all the country’s voters.”
Indeed, opposition parties’ capacity to show the electorate they are credible alternatives is crucial to the credibility of the democratic system. The strength of the opposition in a democracy plays a key role in the quality of that democracy and, by extension, the effectiveness of the state. Gumede adds, “A democratic system is significantly undermined if the opposition does not offer any credible alternatives to the governing party, is invisible in the public debate or does not have
Anambra Development and Investment Corporation (ADIC): An Overdue Idea
BY NWIKE NWEKE
As was widely expected when he came into office in 2022, Governor Chukwuma Soludo has shown an unmistakable focus on growing the economy of Anambra State, as well as removing any bottlenecks that might hinder the economic growth and development of Anambra State.
In keeping with his formidable reputation as a seasoned professor of economics and finance bulwark, Governor Soludo has repositioned Anambra State from a solely trademarket economy to one conducive for every sort of economic activity. Anambra State has now become a budding destination for foreign investors, with the state climbing to the top spot in Ease of Doing Business rankings in the South East.
Armed with the rejuvenated Anambra State Investment Promotion and Protection Agency (ANSIPPA), Governor Soludo has precipitated a new wave of direct and indirect investment in Anambra State’s economy.
Under the inspiring leadership of Mr Mark Okoye, who is now the MD/CEO of the newly formed South East Development Commission (SEDC), ANSIPPA has established itself as a force to reckon with, engaging with investors far and wide to attract much needed business initiatives to Anambra State.
The agency has also unlocked a new innovative strategy to get investors to watch the opportunities that Anambra State provides as well as the feasibility of partnering with the government through the hosting of annual investment Summits where the economic promise of Anambra is showcased for the whole world to see – the Anambra Investment Summits (ANINVEST).
With the number and quality of investments, MoUs and partnership deals that have come on the back of these investment Summits hosted by ANSIPPA in 2023 and 2024, there is no doubt that this is just the beginning of something that has the potential to truly transform Anambra State.
As the fourth state with the most economic activity in Nigeria, Anambra has achieved a lot in championing economic development, albeit so much potential yet abounds.
As an investment protection agency, there is so much that ANSIPPA can legally do to truly rearrange the business landscape in Anambra State, and this limit also translates to crucial areas like funding and financing for the plans it has for Anambra State.
ANAMBRA STATE NEEDS SOMETHING TO GALVANIZE ITS AMBITION AND PUSH TO BECOME THE TOP SUB-NATIONAL ECONOMY IN NIGERIA AND THE PASSING OF THE ADIC BILL WILL BE A MUCHNEEDED CATALYST
This has led to the idea of morphing ANSIPPA into a truly capable corporation, the Anambra Development and Investment Corporation (ADIC), which will be empowered to attract, finance and oversee business and infrastructure projects aimed at developing and enhancing the business climate in Anambra State.
ADIC is a brainchild of Governor Soludo, and the scope and functions of its activities will bear similarities to the Africa Finance Corporation (AFC), which was also Governor Soludo’s brainchild. During his stint as Governor of the Central Bank of Nigeria (CBN), Governor Soludo founded the AFC in 2007, with the CBN
Banking, Agriculture Top EquitiesWeekly Volume on NGX
Two sectors, Financial Services (led by Access Holdings Plc) and Agriculture (led by Ellah Lakes), dominated trading activities on the Nigerian Exchange Limited (NGX) in the third week of February 2025.
This is the first time that agriculture played in the league of top equities which used to be the place for financial services, consumer goods, services and ICT.
Data by the NGX revealed that Access Holdings Plc, Ellah Lakes Plc and Fidelity Bank Plc (measured by volume) came top in the weekly equities trading on the domestic bourse.
They accounted for 618.543 million shares worth N11.207 billion in 7,159 deals, contributing 30.92 per cent and 22.65 per cent to the total equity turnover volume and value, respectively.
Ellah Lakes Plc is a Benin City-based agribusiness company engaged in the production and processing of cassava, maize, soya bean and oil palm into their derivative products.
A total turnover of 2.001 billion shares worth N49.486 billion in 70,853 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.414 billion shares valued at N55.512 billion that exchanged hands the previous week in 80,988 deals.
EDITOR Sam Diala
Access Bank Plc Receives AA/A1+ Issuer Ratings From
CPI Rebasing, Stable Naira Mask Operating Challenges Against Businesses
The recent rebasing of Nigeria’s Consumer Price Index (CPI), as announced by the National Bureau of Statistics (NBS) and the momentary stability of the naira in the foreign exchange market, are capable of obscuring the reality of operating challenges plaguing businesses across all sectors.
Nigeria’s inflationary outlook has undergone a significant shift following the recent rebasing of the CPI by the NBS. The latest data for January 2025 shows headline inflation at 24.48%, a sharp decline from December 2024’s 34.80%. This has triggered mixed reactions from various quarters, given the macroeconomic uncertainties that dominate the environment.
At the risk of celebrating this ‘positive’ development, economy and finance experts insist that the decline in inflation does not signify a reduction in actual price levels; but rather stems from the statistical realignment of the inflation basket to better reflect current consumption patterns.
In their views, the economy has not improved remarkably to warrant the significant drop in inflation. Instead, the rebased CPI only provides a more updated and structured way of measuring inflation, but it does not change the realities of operating challenges against Nigerian businesses. At present, the cost of living remains high, disposable incomes are shrinking and essential goods are still unaffordable for many households. Insecurity remains a terrific obstacle to investments in agriculture and agribusiness.
“If anything, the rebasing highlights a more balanced but equally urgent inflation crisis,” said Muhammad Barde, a Nigerian banker and businessman, adding that the operating environment remains challenged as inflationary pressure on businesses and households persists.
LINGERING CONCERN
A glimpse into the FY 2024 reports of many Nigerian companies revealed that operating expenses and cost of funds increased significantly fueled by high cost of goods and services that serve as input to their activities. Cost of sales, administrative costs, raw materials and inventory costs, recorded a significant jump in the year.
With high costs of electricity, transportation, telecommunication and multiple taxes which combined to give Nigeria’s operating environment a bad name, business remained challenged despite the rebased CPI and the stable foreign exchange market.
concerns consist of increased input costs: The rising price of raw materials, due to inflation and currency fluctuations which remains a major factor driving up production costs.
Next is high energy bills: Inadequate power supply and fluctuating electricity tariffs significantly burden manufacturers with high energy expenses.
Import duty challenge: Complex customs procedures and high import duties on necessary raw materials further inflate costs.
The Financial Services Industry (measured by volume) led the activity chart with 1.199 billion shares valued at N26.325 billion traded in 30,527 deals; thus contributing 59.91 per cent and 53.20 per cent to the total equity turnover volume and value, respectively.
The Agriculture industry, lifted by Ellah
Continues on page 35
Among the worst hit is the manufacturing sector. Manufacturers are currently expressing concerns about the significantly high cost of doing business, citing factors like rising energy costs, import duties, inflation, and currency devaluation, which impact their profit margins, making it difficult to compete in the market.
According to a report by the Manufacturers Association of Nigeria (MAN), key points about manufacturers’
MANUFACTURERS ARE CURRENTLY EXPRESSING CONCERNS ABOUT THE SIGNIFICANTLY HIGH COST OF DOING BUSINESS, CITING FACTORS LIKE RISING ENERGY COSTS, IMPORT DUTIES, INFLATION, AND CURRENCY DEVALUATION, WHICH IMPACT THEIR PROFIT MARGINS, MAKING IT DIFFICULT TO COMPETE IN THE MARKET
Logistics hurdles: Poor infrastructure and inefficient transportation systems add to operational costs.
Impact on competitiveness: The high cost of production makes it difficult for local manufacturers to compete with cheaper imported goods.
Industry experts maintain that without addressing these environmental, structural and policyrelated challenges, the CPI rebasing only masks the ugly situation instead of effecting solutions.
In its note on Thursday, an investment and marketing research firm, Cowry Assets said, “From a policy standpoint, the rebased inflation figures present a new challenge for Nigeria’s monetary authorities.
“Cowry Research observes that the
adjusted CPI framework has had a marked impact on real rates of return, potentially improving market sentiment in the short term.
“However, the sustainability of this inflation trajectory remains uncertain, particularly as upcoming policy shifts, such as the recently approved 50% increase in telecom tariffs, could exert renewed price pressures.
“Moving forward, the effectiveness of Nigeria’s inflation management will depend on a combination of fiscal discipline, exchange rate stability, and structural reforms aimed at improving domestic production and easing supply-side constraints.”
MOMENTARY STABILITY
Naira stability has become a fast-spreading cliché in our business and economy lexicon. The local currency has been remarkably stable in recent times, exchanging within the bandwidth of N1,500/US$1 and N1,510/US$1 at the official and parallel markets. Last Thursday, the media was agog with the news of the convergence of the official and parallel market rates which had earlier occurred in June 2023.
There was little positive impact of the development on the value of the naira beyond applause for the President Bola Tinubu-led administration and the deft monetary policy initiatives of the CBN under Dr Yemi Cardoso as governor.
However, some analysts have cautioned against the hypersensational reactions to the “historic” rates convergence at N1,510/US$1 against N467/US$1 and N760/US$1 in the official and parallel markets respectively on June 13, 2023, preceding the unification of the forex market on June 14, 2023. The policy shift marked the rapid devaluation of the local currency – recording a loss of 98% as at date, using the predevaluation parallel market rate.
Commenting on the celebrated naira stability, a Nigerian finance expert, Abayomi Fashina, observed that while the development has provided a temporary respite, the critical question remains: ‘Is this a sustainable path toward economic
stability or merely a short-lived alleviation of persistent challenges?’
“The naira has previously experienced periods of stability, only to be undermined by structural economic weaknesses. The economy remains heavily reliant on imports, and non-oil exports have yet to achieve significant growth.
“Without sustained investment in productive sectors, the recent currency appreciation may prove transient. Fiscal discipline is also a pressing concern, as government borrowing and expenditure continue at unsustainable levels.
“Investor confidence remains fragile; without a clear, longterm economic strategy, capital flight could easily reverse recent gains.”
PERSISTENT
REALITIES
Overlooking the weak productive base, massive divestment by the multinationals, high public debt profile, high revenueto-debt-servicing ratio, and general challenging operating environment, to celebrate a stable naira amounts to an attempt to clap with one hand.
Historical trends show that the preceding year to the general election witnesses a high volatility scenario in the foreign exchange market. There is little to suggest that 2026 will be different as many analysts had predicted that the exchange rate would hit N2,000/US$1 by next year.
Others point to the fact that the massive borrowing that the Nigerian government had embarked upon through the sale of Treasury Bills, Eurobond and other instruments at a high interest expense, and the current recapitalization of the banks contributed to the foreign reserves boost that acted as a buffer in strengthening the naira.
Stakeholders are unanimous in their views that no meaningful achievement can be made without a stable and sufficient supply of electricity, tackling insecurity and fixing dilapidated road network across the country. These are the factors that drive sustainable economic gains if you have the appropriate human capital input.
Global Credit Ratings (GCR) has assigned national scale long- and short-term issuer ratings of AA(NG) and A1+(NG) respectively, to Access Bank Plc, with outlook accorded as stable. According to GCR, the bank’s ratings reflect its position as the largest bank in Nigeria by assets, as well as its growing presence across key markets in Africa and beyond.
Access’ well-established ability to acquire funding via local and international financiers and good asset quality also underpin the ratings, according to the rating note: “Being the largest subsidiary of Access Holdings Plc– a financial holding company listed on the Nigerian Exchange Limited – the bank’s ratings are derived from the strengths and weaknesses of the consolidated Holdco”.
GCR stated that the credit considerations, as well as the ensuing analytical perspectives are based on the Holdco’s consolidated position. However, the ratings have been assigned to the bank. Access accounts for over one-fifth of Nigeria’s banking sector assets as of September 2024 and is present in 20 other countries across Africa, Europe and Asia, the rating note said.
Analysts noted that the bank’s international footprints are strategically positioned at key global trade hubs, thus, making Access a key enabler of cross border trades and payments targeted at Africa. GCR expressed the view that its diversification also provides a natural hedge against the bank’s exposure to Nigeria’s relatively volatile operating environment.
Besides the benefits of size and diversification, Access’ strong competitive position is supported
Lakes (40 million on Friday), followed with 234.002 million shares worth N1.683 billion in 3,191 deals during the week.
Third place was the Consumer Goods Industry, with a turnover of 173.829 million shares worth N7.150 billion in 8,903 deals.
The NGX All-Share Index and market capitalisation appreciated by 0.41 per cent and 0.29 per cent to close the week at 108,497.40 and N67.614 trillion, respectively. This is in contrast to 2.00per cent and 2.78 per cent recorded in the previous week when the ASI and market capitalisation closed at 108,053.95 and N67.418 trillion respectively.
On a daily basis, at the end of the last weekday trading (Friday), a total of 315,722,116 shares in 13,345 deals, corresponding to a market value of N8.361 were traded.
Compared with the previous NGX trading day (Thursday, February 20), last Friday’ data shows a 25 per cent decline in volume.
The N67.614 trillion market capitalisation and 108,497.40 ASI constituted a deficit against 67.658 and 108,568.50 points recorded in the previous day’s trading (Thursday, February 20).
In the aggregate, 122 NGX listed equities participated in trading, ending with 25 gainers and 32 losers as of Friday, February 21.
Overall, the performance represents a 1-week gain of 0.41 per cent, a 4-week gain of 4.73 per cent and an overall year-to-date gain of 5.41 per cent.
Ellah Lakes recorded the highest volume of 40.5 million traded shares, followed by Fidelity Bank(21 million), Zenith Bank (20 million) and United Bank for Africa (19.9 million).
Access Bank Plc Receives AA/A1+ Issuer Ratings From GCR CPI Rebasing, Stable Naira Mask Operating... BUSINESS WEEKLY Banking, Agriculture...
by its well-entrenched ESG principles-based business, whilst noting 15.8% of oil and gas loan exposures. The ratings are also driven by the bank’s good funding and liquidity position. Access maintained a foreign exchange (FX) liquidity cover of at least 30% from 2020 to 2024 despite significant sectorwide shortages over the same period. However, overall liquidity ratio declined to 43.9% – albeit higher than the regulatory minimum of 30% – as of September 2024 from 53.0% as at December 2024, due to the Central Bank of Nigeria’s higher cash reserve requirements and other tightening measures.
Funding base is considered stable, consisting primarily of low-cost customer deposits. Stable funding, including longterm funding and core customer deposits, typically accounts for over 75% of funding needs, while reliance on market funding is curtailed at about 3%.
Given Access’ franchise strength, GCR analysts expect good FX liquidity management as well as access to diverse funding sources to continue supporting the bank’s funding and liquidity position. It said Access’ moderate risk appetite is evident in the quality of its loan portfolio, which is deemed to perform better than those of the bank’s Nigerian peers. Non-performing loans (NPLs) declined steadily from 5.8% in 2019 fiscal year to 1.9% in 2022, albeit increasing slightly to 2.8% in 2023. GCR said in the rating noted that this was due to the June 2023 naira to US dollar devaluation, which pressured the foreign currency (FCY) loan
portfolio.
The risk posed by FCY loans has since been managed down through proactive risk management and paydowns of FCY obligations by obligors. foreign currency NPLs ratio has consequently declined to 0.65% as of June 2024, from 0.98% as of December 2023, while overall NPLs ratio declined to 2.7% over the same period.
“We expect asset quality to remain strong based on curtailed FX exposures in general, sustained portfolio diversification by sector and obligors, especially away from problematic
sectors, natural hedging, and the purchase of FX forwards to manage similar portfolio risk,” GCR stated. Access raised additional share capital of over N340 billion, or USD228.5 million, in the last quarter of 2024, bringing the balance of paid-up share capital (including share premium) to NGN594.8 billion (USD396.3 million).
The bank has therefore met the new capital requirements set by the Nigerian regulator for its license category ahead of schedule. However, the capital adequacy ratio (CAR) did not increase due to the offsetting effect of the increase in risk-weighted assets. A slight decrease from 21.1% at December 2023 to 20.6% at December 2024 was recorded.
The ‘GCR CAR’, on the other hand, is expected to remain within the range of 14.0% and 14.5% over the next 12 to 18 months. The rating note stated that core capitalisation is therefore modest relative to peers due to the bank’s sizable risk-weighted assets.
GCR said going forward, the bank’s core capital could be further pressured as lending grows, but this may be mitigated by strong internal capital generation. Analysts expect the mitigation to happen as the bank enters the consolidation phase of its strategic implementation and robust risk management, especially with respect to foreign currency lending.
The stable outlook reflects Access’ strong business and financial profile and our expectation that key credit metrics will remain within the assigned rating level, GCR Ratings said. #Access Bank Plc Receives AA/A1+Issuer Ratings from GCR.
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TECH ENTERPRENEURSHIP
Africa’s Digital Awakening: Are We Ready for Fourth Industrial Revolution?
BY EMMANUEL OKWUDILI ASIKA
For many years, Africa has been heralded as the next frontier for digital transformation. The continent, once defined by limited connectivity, is now home to burgeoning tech ecosystems, fintech unicorns and an entrepreneurial surge that rivals some of the world’s most dynamic regions. But amid this optimism, a stark reality remains—millions of Africans are still offline, excluded from the very digital economy that promises prosperity and inclusion.
As someone who has spent decades advocating for tech adoption and building scalable digital ecosystems, I believe the Fourth Industrial Revolution (4IR) presents not just an opportunity for Africa, but an existential mandate. The tools are here—artificial intelligence, blockchain, mobile banking—but are we prepared to wield them to our advantage, or will we once again be left playing catch-up?
Bridging the digital divide: The 3D framework
The digital divide is not merely an issue of infrastructure; it is a multi-layered problem requiring urgent intervention. Technology is only as transformative as the access, affordability, and skills that support it. At Mannyville, we designed the 3D framework— Devices, Data, and Digital Literacy—as a pragmatic approach to fostering digital inclusion in Africa.
Devices: Affordable hardware is the foundation of digital access. Without it, innovation is meaningless.
Data: Connectivity must be reliable and affordable; otherwise, digital opportunities remain out of reach.
Digital literacy: Equipping people with the skills to participate, create, and compete globally is the ultimate enabler of sustainable transformation. This is not theoretical. It is a call to action that must be backed by deliberate investment and commitment. Without these pillars, Africa risks widening the gap between those who can leverage technology for economic advancement and those who remain locked out of the digital economy.
REAL STORIES, REAL IMPACT
The need for action is not abstract—it is deeply personal. At a tech conference in Edo State, I met young innovators brimming with potential but lacking the resources to move forward. I pledged two laptops to support two of them. That small act of empowerment ignited a
transformation that would ripple beyond the conference hall.Inspired by that moment, I launched Mannyville to scale impact one individual at a time. Consider Cece, who leveraged digital connections to earn a fully funded master’s degree in cybersecurity. Or Mayowa, who transitioned into tech entrepreneurship. Or Innocentia Anyanwu, who integrated technology into pharmaceutical solutions. These are not just success stories; they are proof that Africa’s digital future hinges on access, opportunity, and intent.
Yet, isolated success stories are not enough. We need systemic changes that ensure these opportunities are not the exception but the norm. Governments, businesses, and educational institutions must work together to scale these efforts, turning individual triumphs into national and continental progress.
ROAD TO DIGITAL LEADERSHIP
Africa’s digital transformation is not a lofty ideal—it is an economic imperative. Bu t rhetoric alone will not move us forward. We need concrete action in four key areas:
Infrastructure and access: Governments and private sector players must prioritise broadband expansion and affordable data solutions. Without widespread connectivity, the promise of digital inclusion remains a mirage.
Partnerships and policy support: Public-private collaborations should create an enabling environment for tech-driven innovation. Regulatory frameworks must encourage, not stifle, digital entrepreneurship.
Tech education and upskilling: Digital literacy must be embedded in school curricula and extended to marginalised communities. A techsavvy workforce is essential for Africa to compete in the global digital economy.
Inclusive growth strategies: Women, rural populations, and young people must be active participants in the digital revolution, not afterthoughts. The benefits of digital transformation must be equitably distributed. Africa must lead, not follow.
For two decades, I have watched Africa evolve from struggling to keep pace to leapfrogging technological barriers. But evolution is not enough—we must take ownership of the Fourth Industrial Revolution.
Countries like Rwanda have demonstrated how deliberate digital policies can accelerate transformation. Nigeria’s fintech boom proves that when barriers are reduced, innovation thrives. Yet, challenges remain, from power supply issues to bureaucratic roadblocks that stifle progress. If we are to lead, we must confront these hurdles head-on with urgency and strategic planning.
As someone who has spent decades advocating for tech adoption and building scalable digital ecosystems, I believe the Fourth Industrial Revolution (4IR) presents not just an opportunity for Africa, but an existential mandate
The question is no longer whether Africa is ready for the digital revolution. The real question is: Is the world ready for an Africa that is leading it?
•Asika is a business leader, digital equity advocate and industry strategist
MONETARY POLICY
Nigeria’s Naira Rebound: Stability or Temporary Relief?
BY ABAYOMI FASINA
Nigeria’s currency, the naira, has recently demonstrated relative stability, trading at approximately N1,513 per US dollar in the parallel market as of February 17, 2025. This development has been lauded as evidence of the efficacy of President Bola Tinubu’s economic policies.
Key measures contributing to this trend include the removal of fuel subsidies, the unification of exchange rates, and the initiation of local refining at the Dangote Petroleum Refinery. While these actions have provided a temporary respite, the critical question remains: Is this a sustainable path toward economic stability or merely a short-lived alleviation of persistent challenges?
The Central Bank of Nigeria (CBN) has implemented policies aimed at tightening liquidity, which have played a role in easing foreign exchange pressures. Additionally, the commencement of operations at the Dangote Refinery is anticipated to reduce Nigeria’s dependence on imported fuel, thereby conserving foreign exchange reserves. These factors have collectively contributed to a momentary reduction in demand for the US dollar.
However, historical patterns caution against over-optimism. The naira has previously experienced periods of stability, only to be undermined by structural economic weaknesses. The economy remains heavily reliant on imports, and non-oil exports have yet to achieve significant growth.
Without sustained investment in productive sectors, the recent currency appreciation may prove transient. Fiscal discipline is also a pressing concern, as government borrowing and expenditure continue at unsustainable levels. Investor confidence remains fragile; without a clear, long-term economic strategy, capital flight could easily reverse recent gains. A fundamental issue is whether the current policy framework is robust enough to maintain this positive trend. Stabilising the naira requires more than reactive measures; it demands comprehensive reforms that address inflationary pressures, promote local production, and enhance export competitiveness. The government must also improve transparency in foreign exchange management to reassure investors and businesses of its commitment to genuine market reforms.
Despite the temporary relief, several underlying challenges continue to threaten the stability of the naira. One of the most pressing issues is inflation, which remains in double digits, eroding consumer purchasing power and increasing the cost of doing business. While monetary tightening has helped curb some inflationary pressures, rising food prices and energy costs continue to fuel instability. Without addressing these structural issues, economic gains may be short-lived.
Furthermore, the persistent insecurity across Nigeria has deterred foreign direct investment (FDI), limiting the inflow of muchneeded capital. Investors seek stability and predictability, both of which remain elusive in the Nigerian business environment. Political uncertainty, policy inconsistencies, and bureaucratic inefficiencies further compound the problem, making it difficult for businesses to thrive.
Another crucial factor is Nigeria’s heavy dependence on oil revenue. While the Dangote Refinery promises to reduce the nation’s reliance on fuel imports, the broader economy remains vulnerable to fluctuations in global oil prices. A sustainable recovery must involve aggressive diversification efforts to reduce dependency on crude oil exports and boost nonoil sectors such as manufacturing, agriculture, and technology.
Additionally, access to foreign exchange remains a challenge for businesses operating in Nigeria. The CBN has made efforts to clear its backlog of forex obligations, but liquidity constraints persist. The government must ensure that forex policies align with market realities, facilitating seamless transactions for businesses that rely on imported inputs.
Beyond economic policies, governance reforms are necessary to restore public and investor confidence. Corruption, inefficiency, and lack of accountability have long plagued Nigeria’s economic landscape. Strengthening institutions, enforcing regulatory compliance, and fostering an environment of transparency will go a long way in ensuring sustainable economic progress.
The role of the private sector in driving economic growth cannot be overstated.
The government must create an enabling environment for businesses by addressing bottlenecks such as inadequate infrastructure, multiple taxation, and inconsistent policies. Encouraging entrepreneurship and fostering a business-friendly climate will spur investment and drive long-term economic resilience.
Stabilising the naira requires more than reactive measures; it demands comprehensive reforms that address inflationary pressures, promote local production, and enhance export competitiveness
In the immediate term, Nigeria enjoys a reprieve in its foreign exchange challenges. However, without a coherent, long-term economic vision, the naira’s gains could unravel. To achieve lasting stability, the government must move beyond short-term fixes and implement structural reforms that enhance productivity, encourage industrialisation, and restore investor confidence. This includes diversifying the economy, investing in infrastructure, and creating an enabling environment for businesses to thrive. Only through such comprehensive measures can Nigeria hope to achieve sustainable economic growth and currency stability.
•Fashina is a Tax and Risk Professional
SHOTS OF THE WEEK
Photo Editor: Peace Udugba [08033050729]
Director, Corporate Communications and CSR, Airtel Nigeria, Femi Adeniran; CEO, CashToken, Chief Lai Labode; presenting a cheque of Fifteen Thousand Dollars to the third-place winner (Female Category),
Peris from Kenya, at the 10th edition of the Lagos Marathon held recently in
Newly appointed DG, National Board for Technology Incubation (NBTI), Dr. Kazeem Raji (left) receiving the handover note from his predecessor, Dr. Uchenna Chukwu, during the handing-over ceremony at the NBTI headquarters in Abuja on February 17, 2025.
Minister of State for Industry, Trade and Investment (FMITI), Sen. John Enoh (4th R), Permanent Secretary, Amb. Nura Rimi (3rd L), former Minister of the ministry, Dr Olusegun Aganga, (3rd R); Special Adviser to the President on Industry, Trade and Investment, Mr John Uwajumogu, (2nd L); Senior Special Adviser to the President on Industrial Training and Development, Oluwatosin Ayinde (L); Senior Special Adviser to the President to the President on MSMEs, Mr Temitola Adekunle-Johnson (2nd L) and the MD, Bank of Industry, Dr Olasupo Olusi (R), during the inauguration of Industrial Revolution Work Group (IRWG) in Abuja on February 20, 2025.
Director General, Directorate of Technical Aid Corps (DTAC), Dr. Yusuf Yakub (right) wishing the Volunteers well, during their deployment exercise to Benin Republic and Rwanda in Abuja on February 18, 2025.
L-R: Lagos State Commissioner for Housing, Mr Maroof Fatai; Permanent Secretary, Federal Ministry of Housing and Urban Development (FMHUD), Dr Shuaib Belgore; Vice Chairman, Senate Committee on Land, Housing and Urban Development, Sen. Victor Umeh; Minister of Housing and Urban Development, Ahmed Dangiwa; Minister of State for Housing and Urban Development, Yusuf Ata and Chairman House Committee on Regional Planning and Urban Development, Abiante Awaje, during the 2025 Stakeholders Engagement on Fiscal Incentives for Manufacturers of Local Building Materials Components in Lagos on February 20, 2025
L-R: Ayham Moussa, Chief Operating Officer, MTN Nigeria; Oyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria; Ikenna Ikechumwu, mPulse Winner & One Day CEO and Dr. Karl Toriola, Outgoing CEO for the day, MTN Nigeria at the One Day CEO Event on 19th February 2025.
L-R:
Jerono
Lagos.
Nigeria’s U20 AFCON Opponents: Group of Death or Blessing in Disguise?
BY JUDE OBAFEMI
The 2025 Under-20 Africa Cup of Nations (AFCON) draw has positioned Nigeria’s Flying Eagles in a formidable Group B, alongside Egypt, Morocco, and South Africa. This assembly, which some have quickly referred to as the ‘group of death,’ presents a significant challenge for Nigeria’s quest to reclaim continental supremacy.
Scheduled to take place in Côte d’Ivoire from April 26 to May 18, the tournament serves as a critical platform for African nations to show the world emerging talents on the continent as they trade tackles to earn spots in the FIFA U-20 World Cup. For Nigeria, a nation with a storied history in youth football, this draw is both a test and an opportunity.
Head coach Aliyu Zubairu, appointed in September 2024, has expressed a positive outlook despite the challenging draw. He perceives the grouping as a “blessing in disguise,” suggesting that facing strong opponents early will serve as a true measure of the team’s capabilities. Zubairu’s immediate task upon appointment was to prepare the team for the WAFU B U-20 Championship in Togo, a precursor to the AFCON. His tenure has been marked by a focus on building a resilient squad capable of competing at the highest level.
Nigeria’s U-20 team, known as the Flying Eagles, boasts a record seven AFCON titles, with their most recent triumph in 2015. This rich history underscores the nation’s commitment to nurturing young
One of the key areas of focus has been the midfield, where control of the game often hinges
tournament.
One of the key areas of focus has been the midfield, where control of the game often hinges. The coaching staff will have to emphasise the importance of maintaining possession, dictating the tempo, and transitioning effectively between defence and attack. This strategy can effectively neutralise the strengths of their group opponents while capitalising on Nigeria’s traditional attacking flair.
Defensively, the Flying Eagles will have to work on organisation and communication. Given the attacking threats posed by Egypt, Morocco, and South Africa, a solid defensive structure will be crucial. Set-piece situations, in particular, have been a point of emphasis, recognising that such moments can often decide tightly contested matches.
Offensively, Nigeria’s rich history of producing talented forwards continues. The current squad features a mix of pacey wingers and clinical strikers, capable of breaking down defences both through individual brilliance and coordinated team play. The coaching team has been said to be actively honing the players’ abilities to exploit spaces and convert chances, aware that efficiency in front of goal could be the difference-maker in a group where opportunities may be limited.
Psychologically, the ‘group of death’ scenario can be daunting. However, Coach Zubairu’s framing of the draw as a “blessing in disguise” is a deliberate effort to instil confidence and resilience in his players instead of the opposite. By embracing the challenge, the team will attempt to foster a mindset that thrives under pressure, viewing each match as an opportunity to prove their mettle.
talent
and maintaining a strong presence in African football. However, recent tournaments have seen increased competition, with other nations investing heavily in youth development.
Egypt, a perennial powerhouse in African football, brings a blend of technical prowess and tactical discipline to the tournament. Their youth system has consistently produced players who transition seamlessly to the senior national team. Morocco, on the other hand, has made significant strides in recent years, with investments in football academies and infrastructure yielding positive results. Their U-20 team is known for its cohesive play and strategic acumen. South Africa, with its dynamic and unpredictable style, adds another layer of complexity to the group. Their emphasis on speed and creativity can pose challenges to any defence.
For the Flying Eagles, navigating this group will require meticulous preparation and strategic planning. Coach Zubairu’s approach has been to blend experienced players with emerging talents, creating a squad that is both dynamic and adaptable. The team’s recent training camps and friendly matches, including a twomatch tour of Egypt, have been designed to simulate the conditions and calibre of opponents they will face in the
Historically, the Flying Eagles have demonstrated an ability to rise to the occasion. Their performances in previous tournaments have often seen them advance beyond the group stages, leveraging their experience and tactical nous. This history provides a foundation of confidence, but the team must be acutely aware that past successes do not guarantee future results.
The broader context of the tournament also plays a role. With the top two teams from each group, along with the four best third-placed teams, advancing to the knockout stages, there is a margin for error. However, relying on permutations is a risky strategy. The Flying Eagles’ approach must be centred on securing outright victories to control their destiny.
Support from the Nigeria Football Federation (NFF) has been instrumental in the team’s preparations. The NFF’s investment in training facilities, logistical support, and player welfare underscores a commitment to providing the Flying Eagles with the tools needed for success. This institutional backing is crucial, as it allows the coaching staff and players to focus entirely on their performance.
There is only one month to the commencement of hostilities in the tournament and football fans in the country, who follow age-range tournaments, will be pleased to see the young boys make the country proud. The U-20 AFCON is not just a competition; it is an exhibition of the next generation of talent poised to make an impact on both continental and global stages. For the players, it is an opportunity to write their own chapters in Nigeria football history.
Indeed, while the 2025 U-20 AFCON draw has placed Nigeria in a challenging group, it also offers a platform to demonstrate resilience, tactical sophistication, and the indomitable spirit synonymous with Nigerian football. The Flying Eagles, under Zubairu’s guidance, are poised to embrace this challenge, aiming not only to advance beyond the group stages but to ultimately reclaim their position atop African youth football.
ogannah@thewillnews.com
USAID Funding Freeze Serves as Wake-up Call for Nigeria
America’s suspension of USAID funding to Nigeria has disrupted vital programmes in healthcare, education and agriculture, exposing the fragility of a system heavily reliant on external assistance. President Donald Trump’s executive order halting all USAID programmes for 90 days has placed Nigeria’s expected $602.95 million grant for 2025 in jeopardy. While the official justification for this freeze is a reassessment of aid effectiveness and the elimination of waste, the immediate impact has been a sharp disruption of initiatives that millions depend on.
The consequences are most severe in the healthcare sector, which was allocated a significant 89.27 per cent of the total funds. The largest portion—$368 million—was designated for HIV/AIDS programmes, while tuberculosis control was set to receive $22 million, malaria intervention $73 million, maternal and child health $33.25 million and family planning $22.5 million. The abrupt halt in funding threatens to undo years of progress in addressing these health challenges, leaving vulnerable populations without crucial support.
Beneath the immediate crisis, a deeper contradiction emerges. Nigeria, a country endowed with vast oil reserves, natural gas deposits, fertile agricultural land and abundant mineral resources, remains dependent on foreign aid to sustain critical sectors. This reliance has now been laid bare, raising serious concerns about the long-term sustainability of such a development model.
The funding suspension has also been marred by controversy. US Congressman Scott Perry has alleged that American aid funds have been diverted to terrorist organisations, including Boko Haram. The US Mission to Nigeria has refuted these claims, asserting that stringent monitoring and evaluation mechanisms are in place. However, these allegations have prompted the Nigerian Senate to summon intelligence chiefs for an investigation, underscoring the political and security dimensions of the aid debate.
The reliance on foreign assistance is not without its hidden costs. While aid is often framed as a benevolent gesture, it is seldom devoid of strategic interests. The “America First” policy makes explicit what has always been implicit: Foreign aid serves donor interests first. Conditions attached to such funding frequently benefit the providers more than the recipients, entrenching an unequal power dynamic that fosters dependency rather than genuine progress.
Nigeria’s experience with international pharmaceutical companies illustrates the risks of external dependence. Past cases, such as Pfizer’s controversial drug trials in Northern Nigeria, highlight how vulnerable populations can be exploited under the guise of aid. More broadly, the operational costs of NGOs affiliated with funding agencies often absorb substantial portions of allocated resources, diluting the impact of the aid itself.
The Nigerian government’s response to the funding freeze suggests that self-reliance is not beyond reach. Authorities have approved $200 million to sustain healthcare services and announced plans to employ 28,000 health workers previously paid under USAID programmes. Additionally, the Federal Executive Council has allocated N4.5 billion for HIV treatment packs. While these measures fall short of fully replacing USAID support, they demonstrate that Nigeria has the capacity to mobilise domestic resources when necessity dictates.
If Nigeria can muster such resources in reaction to a crisis, why has it remained dependent on foreign aid for decades? The answer lies in leadership failures, corruption, and misallocated priorities. The country’s oil wealth, which should have funded robust public services, has too often been squandered through mismanagement and embezzlement. This reality stands in stark contrast to Nigeria’s historical
position. From the 1960s through the 1980s, the country was a regional power that provided aid to other African nations, maintained functional industries, and boasted reputable universities and healthcare systems. That Nigeria has fallen from this position into one of dependency is not a natural progression but a consequence of governance failures over time.
The current situation presents an opportunity for Nigeria to reassess its economic strategy. The nation must reclaim control over its natural resources, many of which have been extracted under unfavourable agreements with foreign corporations. The country must enter into contracts with companies currently mining and extracting our resources illegally and ensuring that revenues are directed towards national development. The country can lay the foundation for long-term sustainability.
Healthcare offers a compelling starting point. Rather than relying on imported medications and equipment, Nigeria could invest in local pharmaceutical production and medical infrastructure. Strengthening domestic industries would not only address immediate healthcare needs but also create employment and drive economic growth.
Agriculture is another critical sector where self-sufficiency must be prioritised. Once a global leader in agricultural exports, Nigeria now imports basic food items at considerable expense. With the right investments in modern farming techniques, storage infrastructure, and supply chain efficiency, the country can restore food security while generating significant export revenues.
For these efforts to succeed, a transparent resource management system must be established. Nigeria’s wealth should translate into improved services for its citizens rather than being siphoned into private accounts.
The country must now decide whether to seek alternative donors to maintain the status quo or to seize this moment as a turning point towards self-reliance. A nation that once supported liberation movements across Africa has the potential to liberate itself from the constraints of foreign aid.
Nigeria possesses the natural and human resources necessary for sustainable growth with a youthful population that can bring about this growth and sustain it over the next generations. What remains to be seen is whether political leadership will rise to the occasion. The USAID funding freeze serves as a wake-up call, highlighting the fragility of external dependence. If Nigeria harnesses this moment to implement real structural reforms, it can emerge stronger, more resilient, and ultimately, self-sufficient.
The “America First” policy makes explicit what has always been implicit: Foreign aid serves donor interests first. Conditions attached to such funding frequently benefit the providers more than the recipients, entrenching an unequal power dynamic that fosters dependency rather than genuine progress