Funke Felix-Adejumo is the founder of Funke Felix-Adejumo Foundation, an organisation dedicated to empowering women. By the time you read this, she would have been consecrated to the office of a Bishop. Her ministry and teaching are inspired by the same things that guide her life: honouring God and blessing humanity. She intentionally sees that self isn’t glorified and personal gain is not at the centre of her walk with God.
Running a ministry comes with its peculiar challenges. Bishop Funke FelixAdejumo cites being hurt and criticised by the people you are labouring for as one of her challenges. You might ask how she overcame this challenge. She did this by looking to Jesus, saying that those who killed him were the same people he was dying to save. With such challenges, it takes a lot to stay motivated, but not for Felix-Adejumo. She learnt early in life that life is in seasons, and for every season comes inspirations, goals, desires and challenges.
Read all about Bishop Funke Felix-Adejumo on pages 8 to 10.
Your appearance at a black-tie event is important, and so is following a traditional dress code with its guidelines. Although many men think that wearing a tuxedo is all that is required, dressing appropriately requires more. Our fashion pages dive into six common black-tie mistakes men make and how to avoid them.
In this week’s episode of #Unshakable Truths, Sally talks about vulnerability, saying that it is strength and that we live in a world that equates walls with wisdom and open hearts with recklessness. It’s a rather interesting article; I urge you to read it on page 7.
Until next week, enjoy your read.
Photo: Kola Oshalusi
@insignamedia Makeup: Zaron
OnahNwachukwu Editor, THEWILL DOWNTOWN
SUNDAY, JANUARY 19, 2025
THEWILLNIGERIA
SUNDAY, JANUARY 19, 2025
THEWILLNIGERIA
COVER
Resurgent Terrorist Attacks Set N/West, N/East on Edge as S/West Reviews Security Response
BY AMOS ESELE
For the second time in a month, Nigerian military authorities have blamed the upsurge in terrorist attacks in the New Year, across many states in the North-West and NorthEast geopolitical zones, on foreign influence.
Between January 6 and January 14, 2024 terrorists linked to the Islamic State West Africa Province, ISWAP, attacked a military Base in Sabon-Gida, Damboa, Borno State, killing eight soldiers; 30 persons were reportedly killed by bandits in the Charanci, Safana, Kurfi, and Kaita Local Government Areas of Katsina State, while 20 farmers and fishermen were killed by Boko Haram/ ISWAP terrorists in Kukawa Local government Area of Borno State.
Also, 40 people, mostly women and children, were kidnapped in Gana Village in Shinkafi LGA of Zamfara State. About 77 persons have been confirmed killed and 43 kidnapped in 10 northern states in the past one week.
Last Thursday, the Nigerian military said the rise in terror attacks was due to an influx of foreign fighters, which provided reinforcement to local terrorist groups in the country.
According to the Director, Defence Media Operations, Maj. Gen. Edward Buba, the foreign fighters are from the Sahelian Region. “The other contributing factor is the local collaborators that form a support base for these terrorists. They serve as informants to the terrorist reporting on troop
movement,” he said.
Maj Gen. Buba noted that the military has been doing its best to contain the situation by killing many of the terrorists, their commanders and senior leadership.
Earlier, Chief of Defence Staff, Lt. Gen Chris Musa, addressed the situation in a trending interview with Al Jazeera TV. He said, “The problem is that we have talked to the international community to help find out about their sources of funding. When they (Boko Haram fighters) started surrendering, over 120,000 were found with hard currencies, thereby raising the question of how they got the money, how they are funded, how they get their training and how they get their weapons and equipment. How have they been able to sustain themselves for 15 years? Maybe there is an international conspiracy. Who knows?”
With these claims, “there is no doubt that the chicken has come home to roost,” a seasoned security risk management and intelligence executive at Beacon Security and Intelligence Limited, Dr Kabir Adamu told THEWILL on Friday.
Adamu, who is the Managing Director of the security outfit, praised the military for being in the forefront of the fight against terrorism in the country, but he faulted it “for taking upon itself more than it can deliver.”
Resurgent Terrorist Attacks Set N/West, N/East...
relocate to Sokoto State, which alongside six other states in the Northwest geo-political zone had become the hotbed of kidnapping and banditry in the country, with four of the states in the zone, (Kaduna, Katsina, Zamfara and Sokoto) recording the highest number of kidnap cases between July 2023 and June 2024. This was contained in a report by SBM Intelligence, a market intelligence, security analysis and strategic consulting firm.
In an update last week, the Defense Headquarters disclosed that a combined team of infantry and air force personnel had dealt a severe blow to the new addition to bandits in the region, Lakurawa and dismantled the bases of the most vicious of the bandits in the Northwest, Bello Turji, killing scores of his commanders. In a swift reaction, Governors Uba Sani of Kaduna State and his Zamfara counterpart, Dauda Lawal and Governor Dikko Rada of Katsina state, commended the military and pledged their support.
Announcing the significant victory against banditry in the region last Sunday, the Nigerian Air Force, NAF, Director of Public Relations and Information Air Vice Marshal Olusola Akinboboye, said the killing of several top bandit commanders and other fighters in a series of airstrikes conducted in the North-West states, was a significant victory in the ongoing battle against banditry in the region.
But the most wanted man, Turji, fled, heightening tension in the region. Expressing concern over Turji’s recent ultimatum on communities to contribute gifts in cash and kind or face attacks that often result in loss of human lives and the burning of houses and farmlands, former Governor Attahiru Bafarawa of Sokoto State, said, “Most of the people living close to my town are now taking refuge in my village, fearing for their lives. Even Bafarawa town itself has become a nogo area, which is very pathetic.”
REACTIONS
Reacting to the renewed attacks by Boko Haram terrorists in Borno State, Senator Ali Ndume, representing Borno South at the National Assembly, said many of the attackers swooped in from the Lake Chad region through the porous borders and joined others still hiding in the Gwoza mountains in the state to launch the deadly attacks.
“Soldiers are so gallant, but they lack sufficient training, ammunition, equipment, and motivation. These are essential for them to succeed in this fight,” Ndume said on national television last Thursday, adding, “I know what is going on. If you see the conditions under which our soldiers are operating, you will pity them.”
Senator Ndume who said he undertook a tour of the affected areas, added that, “For example, the feeding allowance for a soldier is N1,500 — not per meal, but per day. The salary of a private is still N50,000, even though I understand it has been increased to N100,000. You can imagine that. Yet, these people are willing to lay down their lives to do what is actually not their job.”
FEAR OF TERROR ATTACKS SPREADS TO THE SOUTHWEST
As states in the North-West and North-East continue to witness increased attacks, residents of the South-West states live in fear of an invasion by terrorists who are said to be escaping the bombardments by the military in those regions.
Governor Seyi Makinde of Oyo State raised the alarm last week, basing his claims on intelligence reports.
Investigation, however, shows that many of the states have put machinery in place to thwart possible, unexpected attacks by terrorists.
In Ogun, Oyo and Lagos State, for example, regular security meetings and a steady empowerment of local security outfits, as well as a combined army/police team has reinforced the security architecture in these states.
In a note made available to THEWILL, the Police Public Relations Officer, Police Command in Ogun State, CSP Omotola Odutola, stated that police divisions in the state regularly hold Stakeholders Security Awareness meetings to promote community safety and peace.
“The initiative aligns with the Commissioner of Police, CP Lanre Ogunlowo’s goal to make Ogun State a safe haven,” he said. According to him, the meetings are always attended by Police Community Relations Committees, PCPC, traditional rulers, local government chairmen, hunters, hoteliers, Amotekun corps, student unions, principals of public and private schools, transport unions and community development associations.
But vigilance remains the key word in security matters in the state as Mrs Odumosu, the wife of a former Commissioner of Police in Lagos State, retired Assistant Inspector General of Police Hakeem Odumosu, was on Friday abducted by gunmen in their Voera Estate in Arepo, Ogun State. Confirming the abduction, PPRO Odutola, said the command reacted swiftly to the abduction by deploying policemen to secure her release.
According to Odutola, “Reports indicate that she was about to enter her home when four masked men attacked her, dragged her from her LEXUS Jeep, and took her through swampy areas to an unknown location. The Divisional Police Officer has led a team of Police officers to the scene, where they are currently searching the swampy bush area. The Divisional Police Officer has also contacted Baale Warewa and Baale Maaba, to deploy local security forces to the riverine area.”
Lagos State Commissioner for Information, Gbenga Omotoso told THEWILL on Friday that Lagos citizens do not need to panic following the alarm raised by Governor Makinde.
Looking to 2025, Ribadu reassures Nigerians of renewed focus on combating terrorism, violent extremism and other serious organised crimes through enhanced collaboration, innovative strategies and proactive measures “
“We have a solid and reliable security architecture that is at work. We have Lagos Security Council comprising the army, navy, airforce, police and neighbourhood watch and the security trust fund headed by Governor Babajide SanwoOlu. They regularly meet to review the security situation in the state. Recently, we got men into the neighbourhood watch to provide correct intelligence to the security agencies. Recently, the state government presented to all security agencies about 260 patrol vehicles and other equipment. So, Lagos residents should not go into panic mode.”
Similarly, Oyo State, besides regularly funding the local but region wide security outfit, Amotekun, last week donated 100 patrol vehicles to security agencies.
WAY FORWARD
Reacting to CDS Lt. Gen Musa’s claim of likely foreign sponsorship of Boko Haram’s activities in Nigeria, Dr Adamu noted that the recent increase in terror attacks in the country showed that there were gaps in the security architecture that needed to be filled. According to him, security agencies mandated to work for national security should be empowered to do so. An example is the National Financial Intelligence Unit, NFIU.
He said, “That agency has the capacity to monitor illicit funding, including terrorist groups. I know this because I have interacted with them. They know what the shadow economy is, what is involved and who the players are. The NFIU has partnerships with different international players that supports its monitoring of illicit funding, at the level of the Economic Community of West African States, ECOWAS, the African Union and the United Nations. The United Nations Office on Drugs and Crime, a UN agency, publishes periodic reports on illicit funding. Nigeria is one of the major countries, so why can see reports on illicit funding about Nigeria is public knowledge.”
For National Security Adviser, Nuhu Ribadu, an approach to tackling terrorism, violent extremism and organised crime will be vigorously pursued in the country in 2025.
He highlighted a “robust strategy involving enhanced collaboration, innovative measures and proactive responses to address the nation’s security challenges in 2025.”
Speaking at a public function in Abuja early in the month, the NSA said through the Coordinator of the National CounterTerrorism Centre, Maj. Gen. Adamu Laka, that “recent advancements, including the operationalisation of the Multi-Agency AntiKidnap Fusion Cell, would help in combating violent crimes in the New Year.
Laka said, “Looking to 2025, Ribadu reassures Nigerians of renewed focus on combating terrorism, violent extremism and other serious organised crimes through enhanced collaboration, innovative strategies and proactive measures.
“He highlights recent advancements, including the operationalisation of the Multi-Agency AntiKidnap Fusion Cell at the National CounterTerrorism Centre developed with support from the United Kingdom National Crime Agency to address kidnapping and related crimes. Additionally, dedicated emergency numbers will be made available to facilitate timely reporting and intervention.”
Student Loan: CAPPA Urges FG, NELFUND to Rethink Discriminatory Policy
BY JANEFRANCES CHIBUZOR
Vice President, Kasim Shettima lays wreath at Armed Forces Remembrance Day Parade in Abuja last week.
Governor of Oyo State, Seyi Makinde (right), presents the Staff of Office to new Alaafin of Oyo, Oba Akeem Owoade in Ibadan on January 16, 2024.
FAAC: FG, States, LGs Share N1.424trn December Revenue
BY FELIX IFIJEH
The Federation Allocation Account Committee has shared a total sum of N1.424 trillion to the Federal Government, States, and Local Government Councils as December 2024 revenue. Mohammed Manga, the Director, Information and Public Relations, Federal Ministry of Finance, in a statement said, the allocation was shared at the January 2025 meeting of the FAAC in Abuja on Friday.
A communiqué issued by FAAC and signed by a spokesperson for the Accountant General of the Federation, Bawa Mokwa, explained that the N1.4274 trillion total distributable revenue comprised distributable statutory revenue of N386.124 billion, distributable Value Added Tax revenue of N604.872 billion, Electronic Money Transfer Levy revenue of N31.211 billion and Exchange Difference revenue of N402.714 billion. According to the communiqué, a gross statutory revenue of N1.226 trillion was received for December 2024.
This was lower than the sum of N1.827 trillion received in November 2024 by N600.988 billion. Gross revenue of N649.561 billion was available from the Value Added Tax in December 2024.
This was higher than the N628.973 billion available in November 2024 by N20.588 billion. From the N1.424 trillion total distributable revenue, the Federal Government received a total sum of N451.193 billion and the State Governments received a total sum of N 498.498 billion.
Aformer First Lady of Delta State, Mrs Edna Ibru, (nee Park), is dead.
THEWILL reports that Mrs Ibru died on Wednesday, in a London hospital, after a brief illness.
Her death comes eight years after her husband, Felix Ibru, died in March 2016. Felix, the first civilian governor of Delta State, served between 1992 and 1993. Mrs Ibru was Miss Nigeria in 1964, and the first Nigerian/African to represent Nigeria at Miss Universe. Her son, Dr Paul Aidido Ibru, announced the sad
The Local Government Councils received a total sum of N361.754 billion and a total sum of N113.477 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue. On the N386.124 billion distributable statutory revenue, the communiqué stated that FG received N167.690 billion and the State Governments received N85.055 billion.
The LGs received N65.574 billion and the sum of N67.806 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. From the N604.872 billion distributable Value Added Tax revenue, FG received N90.731 billion, the state governments received N302.436 billion and the LGs received N211.705 billion. A total sum of N4.682 billion was received by the FG from the N31.211 billion Electronic Money Transfer Levy.
The state governments received N15.605 billion and the LGs received N10.924 billion. From the N402.714 billion Exchange Difference revenue, the communiqué stated that FG received N188.090 billion and the state government received N95.402 billion. The LGs received N73.551 billion, while the sum of N45.671 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.
While Value Added Tax and Electronic Money Transfer Levy increased significantly in December 2024, Oil and Gas Royalty, CET Levies, Excise Duty, Import Duty, Petroleum Profit Tax and Companies Income Tax decreased considerably.
Former Delta First Lady Edna Ibru is Dead
development in a statement on Saturday.
“Our amazing mother passed into glory on Wednesday, January 15, 2025, after a brief illness.
“Until her death, she was full of life and we never expected her to leave us so soon but we cannot question the will of God in her precious life.
“She was a lover of people, a mediator, a mother to many, outrageously humorous, deeply caring, down to earth, full of stories all of the time, and we will miss her very dearly. “
INTERPOL’s Maritime Security Unit Seeks Collaboration with EFCC
The International Criminal Police Organization, INTERPOL, through its Maritime Security Unit has sought collaboration with the Economic and Financial Crimes Commission, EFCC, as part of concerted efforts to combat transnational fraud and to check fraudulent malpractices in the maritime sector.
This call was made in Lagos at the weekend when Mr. Ademola Olude, Criminal Intelligence Officer from the Maritime Security Unit of INTERPOL, led a delegation including four members from Ghana on a courtesy visit to the acting Zonal Director, Lagos Directorate of the EFCC, Assistant Commander of the EFCC, ACE1 Michael Wetkas.
Olude, who commended the EFCC for its vigorous corruptionfighting efforts, stressed that the visit was to seek areas of collaboration to combat transnational crimes that are perpetrated across borders.
“The Maritime Security Unit of the INTERPOL is tasked with implementing a project called Agwe, a codename for the project aimed at providing capacity-building among West African member countries, particularly in the areas of investigations and exchange of information in the maritime domain,” he said.
He noted that the project is running in Nigeria, Ghana, Senegal, Cameroon, Liberia, Côte d’Ivoire, Cape Verde, Togo, The Gambia, and Benin Republic.
“We have partnership with 10 different countries in Africa, including Nigeria, and our aim is to reinforce collaboration to ensure maritime security, and we are willing to assist the EFCC in matters relating to border crimes,” he said.
In his response, Wetkas appreciated the delegation for the visit and stressed that the EFCC remained resolute in its fight against all forms of economic and financial crimes, and placed premium value on collaboration with fellow law enforcement agencies.
“We are not relenting in our efforts to rid the country of corruption, particularly cybercrime, which has resulted in many internet fraudsters fleeing to neighbouring countries, and so this makes the need to strengthen collaboration across borders more imperative,” he said.
He further reinforced the Commission’s willingness to partner with the INTERPOL to take the fight against corruption across the West African region.
L-R: Head of Quality, Air Peace Limited Engineer Patrick Achurefe, Chairman/CEO, Air Peace Limited, Dr. Allen Onyema, Area Manager, West and Central Africa, IATA, Dr. Samson Fatokun and Safety Manager, Air Peace limited Captain Godfrey Ogbogu at the IOSA Certification presentation ceremony in Lagos recently.
Oyo Begins Rehabilitation of 4 Major Roads in Ibadan
The Oyo State Government has commenced a major road rehabilitation project in key areas of Ibadan, the capital of Oyo state, to improve transportation infrastructure and enhance mobility. The projects cover roads, including Bashorun Oluwo-nla, Agbowo road, Eleyele-Water road, and Zion plazaOlusoji Road. They are expected to be completed in less than 8 weeks.
This is according to a statement signed by the Chairman, Oyo State Road Maintenance Agency, OYSROMA, Hon. Busoye Ogunlade on Friday, in Ibadan. He said the ongoing rehabilitation is based on fund availability and the economic viability of those roads.
Ogunlade said the move was in line with the commitment of the Seyi Makinde-led administration to make the state more attractive to both local and foreign investors.
“Governor Seyi Makinde has given us the mandate to rehabilitate roads across the State, and we have mobilized Engineers, through direct labour to these sites,” he said. He noted that to make the exercise have the desired impact on the people, the Agency has gone across all zones and picked critical roads that need rehabilitation across the State.
“This is borne out of the complaints we received during zonal town hall meetings from residents of the state. Our Engineers have swung into action and have taken measurements of critical roads,” he said. Hon. Ogunlade said rehabilitation works have commenced on some of the roads, while OYROMA Engineers will move to the remaining ones soon.
“Work has commenced on some of these roads, as we speak. However, repairs on other roads will commence soon.” He therefore advised commuters to follow temporary traffic diversions and cooperate with the ongoing construction efforts.
Edo Tribunal Admits PDP and Ighodalo’s Documentary Evidence
The Edo Governorship Election Petition Tribunal has at the weekend Friday, admitted in evidence all documentary evidence tendered by Edo PDP Governorship Candidate, Dr. Asue Ighodalo in support of his petition challenging INEC’s declaration of Senator Monday Okpebholo as Governor of Edo State.
At the resumed hearing of Ighodalo’s petition marked EPT/ED/GOV/02/2024, the Court admitted all 1004 focumentary evidence tendered by the Petitioners in spite of the objections raised by counsels to the respondents INEC and Monday Okpebholo respectively.
The documentary evidence admitted include Certified True Copies(CTC) of INEC declaration of results forms EC8A-E and LGA summary of results
used for the conduct of the September 21st 2024 Governorship Election in Edo State.
Moving the application for the admission of the evidence, Lead Counsel to the petitioner, Ken Mozia(SAN) said the verification of the over 1004 documents have been duly done in the presence of the lawyers of the parties and the Registrar and therefore tendered them accordingly.
In their reaction, Counsels to the 1st, 2nd and 3rd respondents, kanu Agabi (SAN), Onyechi Ikpeazu and VC Dewigwe objected to the tendering of the documents but the Court admitted the evidence in favour of the Petitioners.
With this development, the coast is now clear for the Petitioners Dr. Ighodalo and PDP to proceed to lead oral evidence in support of their case.
Nigerian Family Refunds N11m Unearned Salaries to Yobe Govt
I n a remarkable display of integrity, a family in Yobe State has fulfilled the dying wish of their late father, Baba Aji Mamman, by refunding N11 million in unearned salaries to the state government. The family revealed this in an advertorial published in Daily Trust. Baba Aji Mamman, who served as a staff member of the Rural Electrification Board in Damaturu, struggled with age-related health issues in his later years. As a result, he could only attend work two to three times a week, instead of the
mandated five days.
Before his passing on March 28, 2020, Baba Aji Mamman instructed his family to calculate the salaries he received for the days he missed and return the funds. The family determined the amount to be N11 million.
After raising the required sum, they paid the money into the state government’s account and tendered a heartfelt apology for their late father’s actions.
Ignore Reports of Impending Petrol Price Hike - IPMAN Tells Nigerians
BY FELIX IFIJEH
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has dismissed claims of an impending increase in petrol prices nationwide.
While a litre of petrol currently sells for at least N950 in filling stations across the country, the international benchmark, Brent crude oil, rose to $81.76 per barrel on Wednesday, fuelling concerns about the potential impact on fuel prices nationwide.
Leading depot operators, including Sahara and Shellplux, have adjusted petrol prices to between N950 and N960 per litre, a
noticeable rise from last week’s range of N907 to N912 per litre.
According to data released by the Major Energy Marketers Association of Nigeria (MEMAN) in December 2024, the landing cost of petrol stood at N887.51 per litre. However, experts predict that the recent rise in crude oil prices is likely to push the landing cost even higher in the coming days.
Speaking in an interview with Voice of America, IPMAN Chairman, Bashir Salisu Tahir, urged Nigerians to ignore reports of potential price increases in petrol.
Tahir assured the public that the operation of the refineries in Nigeria would contribute to a reduction in fuel prices since Nigeria no longer depends on imported fuel.
Emphasising that none of their members had increased the price of petrol across the country Tahir said, “The market now determines prices, and there is no truth to the rumours of an increase in petrol prices.”
While diesel prices have risen recently due to market dynamics, Tahir said: “They will naturally fall when market conditions improve.”
L-R: Head, Legal Department, Asset Management Corporation of Nigeria (AMCON) Mr Albert Nwanozie; Head, Corporate Communications Department AMCON, Mr. Jude Nwauzor; Company Secretary, AMCON Mrs. Oyinlola Adebayo; Team Member of Corporate Communications Department of AMCON Mr. Kenneth Ohiri; Head of Litigation at AMCON, Mr. Norbert Enenmoh, and the Technical Assistant to the Managing Director/CEO of AMCON Mr. Mohammed Yusuf at a recent business luncheon with strategic media stakeholders of AMCON at the Radisson Blu Hotel, Ikeja at the weekend.
Air Peace Meets Global Safety Standards, Matches BA, KLM, Delta — IATA
BY ANTHONY AWUNOR
The International Air Transport Association has affirmed that Air Peace, Nigeria’s leading airline and the largest carrier in West and Central Africa, operates on par with global aviation giants such as British Airways, KLM, and Delta Air Lines in terms of safety standards.
IATA’s Area Manager for West and Central Africa, Dr. Samson Fatokun, made this declaration during the presentation of Air Peace’s sixth consecutive International Air Transport Association Operational Safety Audit certification.
Dr. Fatokun emphasised that IATA’s rigorous safety assessments are uniformly applied to all airlines, ensuring that Air Peace meets the same global benchmarks as its international counterparts.
“The standards are the same for British Airways, KLM, and Delta. The findings conducted here are identical to those abroad, placing Air Peace on equal footing with global airlines when it comes to safety,” he stated.
Fatokun commended Air Peace for successfully undergoing the
comprehensive IOSA audit, which he described as a testament to the airline’s operational expertise and unwavering commitment to safety.
“When you’re an airline from Africa, particularly Nigeria, the expectations are significantly higher. Air Peace has not only met but surpassed those expectations, proving itself as a pride of Nigeria and a beacon of excellence in African aviation,” he remarked.
He also highlighted that Air Peace’s presence on the IOSA registry reflects its dedication to operational excellence and professionalism, noting that the airline’s achievements in just a decade are remarkable and not coincidental.
“IOSA certification is a hallmark of safety and operational integrity. It signifies that an airline adheres to globally recognized safety standards and has processes certified by independent auditors. This milestone is not just a win for Air Peace but a source of pride for Nigeria, showcasing that local carriers can operate at the highest international levels,” he added.
Fatokun stressed that safety remains IATA’s top priority, emphasizing that a robust safety record is a critical factor influencing passengers’ choice of airlines.
“Safety is not just about avoiding accidents but ensuring certified processes are in place to prevent them. These certifications are globally recognized and cannot be compromised,” he explained.
He acknowledged the challenges associated with IOSA certification, noting that the process is rigorous and constantly evolving to adapt to the dynamic nature of the aviation industry.
“Safety is expensive, but accidents are costlier. With the right investments, safety can always be guaranteed,” he concluded.
Air Peace’s sixth IOSA certification represents a significant milestone in African aviation, setting a benchmark for safety and operational excellence.
It underscores the airline’s deep-rooted safety culture and commitment to continuous improvement, inspiring other carriers across the continent to strive for similar standards.
Tinubu Commends Governors for Backing Tax Reforms
BY FELIX IFIJEH
President Bola Tinubu has lauded the Nigeria Governors’ Forum for their unanimous endorsement of four Tax Reform Bills currently being considered by the National Assembly, describing their support as a milestone in Nigeria’s development agenda.
In a statement issued on Friday, Tinubu praised the governors for demonstrating bold leadership and fostering unity across regional, ethnic, and political lines in their collective pursuit of Nigeria’s economic growth.
THEWILL reports that the NGF’s endorsement followed consultations with the Presidential Committee on Tax and Fiscal Policy, during which the Forum emphasised the importance of overhauling Nigeria’s outdated tax laws. The governors noted that reforming the tax system would promote fiscal stability and align the country’s policies with global best practices.
Tinubu expressed his appreciation for the governors’
collaborative efforts, describing their engagement with the Presidential Committee as a commendable demonstration of federal-state cooperation.
“I commend the Chairman of the NGF, Kwara State Governor Abdulrahman AbdulRazaq, for his leadership in galvanizing his colleagues to support these transformative tax bills aimed at rejuvenating the economy and creating a more conducive environment for investment,” Tinubu said.
He also extended commendations to the Progressive Governors Forum, the Northern Governors Forum, and other regional groups for resolving the controversies that initially surrounded the bills.
Highlighting the objectives of the Tax Reform Bills, Tinubu noted that they are designed to serve national interests, improve Nigeria’s economic competitiveness, and attract investments.
“The pro-poor reforms are a necessary step toward modernizing our tax system and ensuring sustainable economic growth,” he said.
The President further emphasised the value of dialogue, describing the consultations between the NGF and the Presidential Committee as a testament to the power of constructive engagement in addressing differences.
Tinubu affirmed his commitment to partnering with the governors to promote economic growth, peace, and national harmony.
He urged other stakeholders with suggestions on refining the Tax Bills to contribute to the ongoing legislative process.
The President also called on the National Assembly to expedite the passage of the bills, emphasising their critical importance in transforming Nigeria’s fiscal landscape and unlocking the benefits of these reforms for the nation.
POLITICS
The Great Fall of a Speaker
BY FALADE AKIN
In November, shortly before Governor Babajide Sanwo-Olu presented the state’s 2025 budget of N3,005,935,198,401 at the Lagos State House of Assembly in November 2024, the then Speaker, Idowu Obasa, had a vote of confidence passed on him by all the lawmakers present at the plenary.
Barely two months later, the same set of lawmakers removed Obasa and replaced him with his deputy, Mojisola Lasbat Meranda, as Speaker.
The lawmakers, THEWILL has learned, plotted Obasa’s downfall when he was away to Mecca for Umrah, the lesser Hadj, in January, 2025, but they had to grab the opportunity presented by the former Speaker’s vacation in Atlanta in the United States to boot him out of office.
As at press time, not a word was heard from him or his loyalists. What is clear is that given the sudden turn of events, the former Speaker is looking for a soft landing from the powers that be before deciding on his return from vacation in Atlanta.
So, after almost a decade of presiding over the House of Assembly, Obasa’s reign abruptly came to an end on Monday, January 13, 2025, when more than two-thirds of the 40-member legislative House removed him over alleged misconduct.
Obasa’s fall was put down to his unusual style of politics, attitude and arrogance. Apart from hinting at his governorship ambition in the most snobbish manner, his disrespect for the powers that be in the state was counted among his many sins.
For someone who had occupied the plum position of Speaker since 2015, eight years after he was elected into the House in 2007 to represent Agege Constituency 1, power had accumulated to a point of making him see himself as first- among –equals.
He is said to have snubbed Governor Babajide Sanwo-Olu on several occasions. Even the influential Governor’s Advisory Council, GAC, led by President Bola Tinubu’s political mentor, Prince Tajudden Olusi, which plays a major role in deciding the fate of governors of the state, was also not spared the sting of Obasa’s arrogance.
During a remark, shortly after Governor Sanwo-Olu presented the state’s 2025 budget of N3. 6tr, Obasa said, “I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.
“To the blackmailers who have embarked on a mission to distort and redefine our mission, let me state it unequivocally here that our intention is to promote our party on the platform of Mandate.
“Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better off.”
It was an unpardonable Freudian slip. Those before him included President Bola Tinubu, who held sway as Governor of Lagos State from 1999 to 2007. Tinubu’s successor, Babatunde Fashola passed the baton of leadership to Akinwumi Ambode and the current Governor, Sanwo-Olu.
Alluding to what he considered the former Speaker’s arrogance, a chieftain of the governing All Progressives Congress, APC, Foaud Oki, disclosed recently that
the on the day Sanwo-Olu came to present the state’s budget to the House of Assembly, Obasa kept the governor and his entourage waiting for five hours and offered no apology. The same treatment was given to Governor’s Advisory Council, GAC. That was despicable and dishonorable, said a Board of Trustee member of the opposition Peoples Democratic Party, PDP, Chief Olabode George in a television interview last Thursday, adding, “They are in the same party, with leaders in the party. Disrespecting him, they stood there for hours without even allowing him to present the budget. That was an infringement and a direct insult to the executive governor. Nobody will allow that.”
For former Legal Adviser of the APC and on-time Commissioner in the state, Muiz Banire, there is no tear for Obasa, whom he said had taken part in orchestrating the removal of a former Speaker and some principal officers of the House, even as he also faults the lawmakers who claimed to have carried out the impeachment for a man they had publicly eulogised as a great benefactor. Arguing that though he is yet to see any formal allegations for the impeachment, he is of the considered opinion that if “there were any criminal allegations leading to his removal, the ex-Speaker ought to be given a fair hearing.”
“My finding however revealed that no allegation was made in the process of removal, hence it will be sheer waste of time to pursue. This much I believe the protagonists of the cause of Mudasiru Obasa must bear in mind and advise him appropriately. To this extent, Mudasiru Obasa must joyfully return as a member to the House which is a position into which he was ordinarily and originally elected into and for which he actually bought a form and contested, anyway, he said.”
He had some strong words for the lawmakers: “over time that I have come across members of the House in public arrangements, they had largely regaled Mudasiru Obasa as their God, even, at times, against the Governor of the state. These are the same set of people that have now carried out the coup and suddenly recovered their voices. They suddenly become unmuted.
As much as I respect their rights to make decisions, such rights must be exercised in a responsible manner and with all sense of conviction. It is in this regard that I would have expected the members to simply state that “we have suddenly found you unworthy to lead us”. This would have sufficed rather than searching and alluding to spurious reasons as it has seemingly become conventional of the members.”
Arguing that though he is yet to see any formal allegations for the impeachment, he is of the considered opinion that if “there were any criminal allegations leading to his removal, the ex-Speaker ought to be given a fair hearing “
Obasa’s deputy, Mojisola Lasbat Meranda, who was immediately elected the new Speaker, becoming the first female to take charge of the legislative body in the SouthWest state, has since moved to consolidate power. First, the lawmakers, during session, also indefinitely suspended the Clerk of the Assembly, Olalekan Onafeko, and dissolved all principal positions and standing committees.
A day after her election as the new Speaker Meranda, representing Apapa Constituency I, last Tuesday, visited members of the Governor’s Advisory Council (GAC) to “brief them about what happened at the House of Assembly yesterday and to seek their blessings which we have gotten”
She met with members of GAC, the highest decisionmaking body of the All Progressives Congress (APC) in Lagos, alongside other members of the State Assembly at Lagos House, Marina.
On Friday, she announced new principal officers, pledged to collaborate with Governor Sanwo-Olu and outlined key priorities, including strengthening legislative independence, promoting transparency and accountability in governance, and creating an inclusive democracy where every citizen feels valued and empowered.
She said, “Our oneness is our strength. As leaders, we must lead by example, demonstrating integrity and fairness in all our dealings. We will strive to amplify the voices of our constituents, address their concerns, and protect their welfare. Together, let us work towards a brighter future for Lagos State—a future built on justice, equality, and opportunity for all. This, we will achieve together”,
The new appointments are Hon. Temitope Adedeji, representing Ifako Ijaye 1 Constituency as Majority Leader; Hon. Richard Kasumu, representing Ikeja 2 Constituency, Deputy Majority Leader; Hon. David Setonji, representing Badagry 2 Constituency, Chief Whip and Hon. Semiu Okanlawon, representing Kosofe Constituency 1, Deputy Chief Whip.
Meanwhile, state chapters of the PDP and Labour Party, LP, have called on the new Speaker to submit a petition to anti-graft agencies to investigate the fraud allegations against her predecessor.
N1, 800, 000
EFFECTIVE APRIL 1, 2024
Center Spread Half Page N1, 300, 000
Double Spread N1, 550, 000
Double Spread Half Page N1, 200, 000
10X6 N700, 000
10X5 N650, 000
10X4 N600, 000
10X3 N500, 000
9X6 N440, 000
9X5 N395, 000
9X4 N335, 000
9X3 N310, 000
8X6 N410, 000
8X5 N380, 000
7X5 N320, 000
7X4 N315, 000
6X5 N280, 000
6X3 N145, 000
6X2 N85, 000
5X2 N70, 000
4X4 N160, 000
4X3 N95, 000
4X2 N65, 000
3X3 N60, 000
3X2 N50, 000
2X2 N30, 000
2X1 N15, 000
1X1 N7, 000
Govs and Tax Reform Bills
The debates surrounding the tax reform bills have come full circle, no doubt . All stakeholders, representatives of the people and the people themselves have participated robustly in making relevant inputs into the tax reform bills
fter arguing back-and-forth over certain provisions in the tax reform bills, the governors of the 36 states of the federation finally took a stand and resolved lingering issues that almost resulted in controversy at a point.
Following a high-level meeting with the Presidential Fiscal Policy and Tax Reforms Committee in Abuja last Thursday, the governors took some far-reaching decisions that we think should make room for easy passage at the National Assembly, where the bills had stalled following disagreements among major stakeholders.
As major stakeholders with a wider mandate, the governors have thus stepped in to resolve matters in a manner that should be satisfactory to all and sundry. Tax experts, communities at town hall meetings and professional bodies had also their say earlier, besides social media campaigns by the relevant government agencies, thus giving the bills sufficient attention and publicity.
The Nigerian Governors’ Forum has opposed the proposed increase in Value Added Tax rates and reaffirmed its support for ongoing legislative efforts to enact comprehensive tax reform bills.
THEWILL recalls that the Chairman of the committee, Taiwo Oyedele, had earlier revealed that a proposed executive bill submitted to the National Assembly sought to increase VAT from the current 7.5 per cent to 10 per
cent in 2025, with a further increment to 12.5 per cent between 2026 and 2029.
It is however pleasing to note that while the governors unanimously rejected the proposed VAT hike, citing concerns about its potential adverse effects on businesses and consumers, they also proposed and approved a revised VAT sharing formula designed to address inequities in resource distribution.
Accordingly, the new formula allocates 50 per cent based on equality, 30 per cent based on derivation and 20 per cent based on population. According to them, this framework promotes fairness and encourages revenue generation at the states level while addressing the needs of less endowed states. The revised VAT sharing formula, they say, will ensure equitable distribution of resources. Conversely, they voted for no reduction in Corporate Income Tax.
The governors also addressed another thorny issue that was to serve as another platform for the Academic Staff Union of Universities, ASUU, to threaten to go on strike. In view of this, the governors’ recommendation against introducing a terminal clause for key development levies shared by agencies like TETFund, NASENI and NITDA, is welcome.
The forum was lauded for its decision to protect vulnerable Nigerians and ensure food security by making sure that essential goods and agricultural
OPINION
Tax Reform Bills and Economic Outlook for 2025
BY ABIODUN KOMOLAFE
The Year 2024 has been flogged to death! With 2025 now underway, it’s clear that this year will be crucial for Nigeria and Nigerians. To ensure a game-changing year, the government must develop a comprehensive framework to address the economic, social and political challenges ahead.
To begin with, President Bola Tinubu should leverage his political expertise to facilitate a consensus-driven approach to the Tax Reform Bills currently before the National Assembly. This requires negotiating with regional stakeholders, addressing politicallydriven concerns and finding common ground to ensure the Bills’ successful passage.
WHEN PRESIDENT TINUBU TOOK OFFICE, NIGERIA FACED SIGNIFICANT CHALLENGES, INCLUDING WIDESPREAD INSECURITY, UNDERDEVELOPED INFRASTRUCTURE AND A DEBT SERVICE-TO-REVENUE RATIO OF 97 PER CENT. THE COUNTRY ALSO STRUGGLED WITH A MASSIVE FOREX BACKLOG OF $7 BILLION AND MANY STATE GOVERNMENTS’ INABILITY TO PAY SALARIES. THESE PRESSING ISSUES UNDERSCORED THE NEED FOR URGENT REFORMS TO GET THE COUNTRY BACK ON TRACK
The Tax Reform Bills are to be commended as the much-needed attempt to get the country back to where it was before the suspension of the 1963 Republican Constitution by a misguided set of people in 1965. Yes, Nigeria must become a producer nation again. This is the only way to pull tens of millions out of poverty, create jobs and nurture a political economy based on shared economic prosperity. The fantasy coming from some people that Nigeria can continue to defy the law of gravity and go on with the assumptionbased political economy must be consigned to the dustbin. So, the Federal Government has a responsibility to push upfront an economic spokesperson, who can present its economic position with the clear lucidity necessary to shift the territory of the debate in favour of its own position. This has to be done with the sense of urgency that the current situation demands!
When President Tinubu took office, Nigeria faced significant challenges, including widespread insecurity, underdeveloped infrastructure and a debt service-to-revenue ratio of 97 per cent. The country also struggled with a massive Forex backlog of $7 billion and many state governments’ inability to pay salaries. These pressing issues underscored the need for urgent reforms to get the country back on track.
By 2025, Nigeria’s economy is poised for growth, driven by increased oil production, projected to reach two million barrels per day, and enhanced domestic refining capabilities. Building on recent momentum, Nigeria has achieved notable economic gains, with its Gross Domestic Product (GDP) growing by 3.46 per cent and unemployment rates decreasing to 4.3 per cent. The country’s fuel imports are also declining rapidly, and it has begun exporting Premium Motor Spirit (PMS) to West Africa and Europe.
Contrary to former Vice President Atiku Abubakar’s claims, Nigeria has made significant strides in managing its debt. The country has reduced its revenue-debt service ratio from over 90 per cent to 64 per cent, indicating a marked improvement in its debt management. Furthermore, Nigeria’s foreign reserves have increased substantially to over $40 billion, despite the challenges of servicing external debts and clearing foreign exchange backlogs. These positive developments are expected to strengthen the naira, ultimately leading to a reduction in the cost of goods and services. Infrastructure development is another area where Nigeria is making progress. The Lagos-Calabar coastal road is under construction and it will soon be the turn of the Sokoto-Badagry highway. Likewise, initiatives such as the student loan scheme by NELFUND and consumer credit by CrediCorpNG are gaining traction, providing financial support to individuals and businesses.
The Tinubu-led government is taking steps to promote autonomy for local governments, modernise the livestock industry and restructure social investment programmes. Efforts to address insecurity, such as (the detention of) Simon Ekpa, banditry and farmersherders clashes, are also yielding positive results, indicating improved social cohesion. To effectively address inflation in 2025, the government should consider implementing a comprehensive Inflation Reduction Act. But then, this would require strong political will! Key components of the Act should include cost-efficiency measures, such as implementing the Oronsaye Report and designating a cost-efficiency czar – preferably the Minister of State in the Ministry of Finance or the Secretary to the Government of the Federation. This czar would be responsible for overseeing the implementation of performance-based budgeting, ensuring the budget is aligned with specific timelines and objectives.
The National Assembly should adopt a Performance Planning Budgeting System for its oversight functions. It is alarming that since 1999, the Assembly has not established a
Why Legal Aid Matters
BY EKPA STANLEY EKPA
What is the value of a fair hearing to a citizen who cannot afford to pay a summons fee, let alone afford the services of a lawyer? Equal access to justice for every citizen of Nigeria, irrespective of their class, is an essential tool to the maintenance of the rule of law.
The cornerstone to securing Nigeria’s future is ensuring equality before the law, the right to counsel, and the right to a fair trial. Legal aid is the foundation of any society that seeks to promote justice, equality, and sustainable development.
In Nigeria, where socio-economic inequality remains a critical challenge, with 63% of Nigeria’s population and roughly 133 million multi-dimensionally poor people, the provision of legal aid is not just a social necessity but a moral and constitutional obligation.
Ensuring that every Nigerian, regardless of financial status, has access to legal representation is essential to achieving our long-term developmental aspirations, harmony, peace, and happiness.
In 1959, the International Commission of Jurists at its conference on the Rule of Law in a Free Society, in Delhi resolved that “equal access to law for the rich and poor alike is essential to the maintenance of the rule of law.
It is, therefore, essential to provide adequate legal advice and representation to all those threatened as to their life, liberty, property or reputation who are not able to pay for it”.
The need for legal aid in Nigeria is profound, with staggering data from the Legal Aid Council of Nigeria, which indicates that over 60 per cent of Nigerians require legal assistance but cannot afford it.
These individuals are often among the most vulnerable in society, low-income earners, women, children, and people living with disabilities - who face legal challenges ranging from wrongful eviction and domestic violence to labor disputes and criminal accusations.
Without access to proper legal representation, these citizens are left without a voice in the justice system, perpetuating a cycle of poverty, disenfranchisement, and social exclusion.
This requires that legal aid is not merely seen as a charitable gesture; it must be seen for what it isa fundamental right enshrined in Section 36 of the 1999 Nigerian Constitution, which guarantees the right to a fair hearing and legal representation for every Nigerian. Legal aid ensures that the promise of justice is not an illusion but a tangible reality for millions of Nigerians.
Thus, in the 1988 case of Josiah v. State, Oputa JSC, succinctly captures it that the “right to counsel
is thus at the very root of, and it is a necessary foundation for a fair hearing..”
This extends to the rights of indigent citizens and underserved communities to under their rights, even in their local languages.
WE MUST ALL RECOGNISE THAT LEGAL AID IS NOT JUST A LEGAL SERVICE, IT IS A SOCIAL CONTRACT THAT BINDS THE GOVERNMENT AND ITS CITIZENS IN THE PURSUIT OF JUSTICE AND EQUALITY
More broadly, legal aid is intrinsically tied to Nigeria’s subscription to the sustainable development agenda.
The United Nations’ Sustainable Development Goal 16 calls for the promotion of peace, justice, and strong institutions.
Nigeria cannot achieve this goal without strengthening our legal aid framework and institutional capacity to deliver equal access to justice.
Access to legal services enables citizens to resolve disputes peacefully, hold government officials accountable, and protect their fundamental rights.
When citizens have confidence in the legal system, they are more likely to contribute positively to national development, creating a stable and secure environment conducive to economic growth.
But when citizens languish in detention for months and in some cases years without access to a fair trial, legal assistance, and timely justice delivery, the idea of development means nothing to them. A large percentage of inmates in Nigerian correctional centres are awaiting trial and cannot afford legal representation.
According to the Nigerian Correctional Service, as of October 2024, 56,973 inmates were awaiting trial, which is the majority of the prison population. 40% of inmates in Nigerian prisons are indigent citizens who cannot afford legal representation.
A strong legal aid system will help reduce prison overcrowding, reduce the violation of inmates’ constitutional rights, and also help minimize the unnecessary burden placed on the country’s
Nigeria’s Capital Market 2025 and Quest for $1trn Economy
Experts at a recent assessment forum of the Nigerian capital market performance organised by Proshare Limited noted that the nation’s ambition for a $1 trillion economy by 2030 demands to be approached with a cautious optimism.
They noted that the Nigeria’s capital market has grown in strength and resilience in the last two decades. However, it has yet to provide the longterm resources needed to rapidly grow domestic infrastructure and provide an efficiently priced and market-determined funding stream.
Nigeria’s capital market is marred by shallowness and limited breadth. According to the analysts who worked on the report of the event, ‘If Nigeria hopes to achieve a US$1trn by 2030, then the capital market needs major fixing.
From US$364bn in 2023 to US$1trn in 2030 implies a compound nominal annual growth rate of 22.40 per cent, with a 2025 federal government GDP growth projection of 4.6 per cent; hell would freeze over before Nigeria achieves its desired goal, even with the well-intentioned statistical adjustments of a rebasing of the nation’s total national output.’
The Proshare economists insisted that while the rebasing offers us the incentive of realizing how closer we are to bridging the gap between our current state and the quest for a US$1 trillion economy, the government needs to accelerate its shift from campaign ground promises to ‘strategic policy action and execution’. They concluded that the miracles needed now are the opportunities we create from moments such as this, building momentum that energizes markets.
In other words, the US$1trn economy quest requires a mix of strategic policy actions that must include reimagining the Nigerian Capital Market as a critical tool for economic development.
DBN: Tax Reform Bills, Fintechs to Fast-Track MSMEs Development in 2025
BY SAM DIALA
Baring all odds, the drive by the Development Bank of Nigeria (DBB) to grow the micro, small and medium enterprises (MSMEs), will assume an accelerated dimension in 2025. This anticipation hinges on the prospects of the Tax Reform Bills to lessen the tax burden on the MSMEs, while the upbeat in fintech penetration will boost productivity in the sector. These factors will enhance the strategies by DBN towards advancing the cause of the MSMEs.
PLEASANT UPBEAT
The DBN has remained committed to its mandate of developing the MSMEs through the provision of financing and professional advisory services in line with strategic economic directions of the country. Harnessing the opportunities in the Tax Reforms initiative and fintech penetration, therefore, will count to the benefits of the small businesses through the execution of the DBN programmes in 2025.
According to a finance and tax expert, Abayomi Fashina, the focus on alleviating the tax burden for vulnerable groups is a crucial step towards achieving the objectives of the Tax Reform Bills.
For instance, the Bill exempts small businesses with annual turnovers below N50 million from corporate income tax and withholding taxes. It also harmonised the countless taxes that plague the small businesses from multiple sides.
MORE HIGHLIGHTS
Other highlights include exempting low-income earners like the MSME operators from Pay As You Earn (PAYE) taxes, unlike the extant policy whereby PAYE applies to all categories of employees.
Again, reducing PAYE rates for individuals earning up to ₦1.7 million monthly, and maintaining zero percent Value Added Tax (VAT) on essential goods such as food, healthcare, and education will provide much-needed relief to low-income households that populate the MSMEs.
informal businesses to transition into the formal economy,” Abayomi said.
The finance expert added that the transition the Tax Reform Bills offer is vital in reviving the economy, as Nigeria’s informal sector contributes over 50 percent to GDP yet remains largely untapped for tax purposes.
THE HEARTBEAT
Industry experts stress that prioritising MSMEs’ financing hinges mostly on the fact that they collectively constitute the largest employers in many low-income countries including Nigeria, and this is a strategic focus of the government in the 2025 budget proposal.
In Nigeria, there are over 37 million MSMEs contributing to over 50 percent of the country’s GDP. However, less than 5 percent of these businesses have access to credit in the financial system – a factor that necessitated the creation of DBN to provide a sustainable lifeline to the sector.
WORTHY ACTION STEPS
The report argues that such a strategic shift will require a rethinking of current enablers in place, some of which may include, but are not limited to the following: A commitment to delivering on the mandate of Mofi (Ministry of Finance Incorporated) and MoPi (Ministry of Petroleum Incorporated) ensuring they both move from aspiration to execution of growth plans for its current portfolio; and determination of market values of its assets; and eventual listing of same on relevant bourses (local and international).
Continues on page 19
OUR FOCUS EXTENDS BEYOND DISBURSING FUNDS; WE REMAIN ACTIVELY ENGAGED THROUGHOUT THE PROCESS TO ENSURE A TANGIBLE IMPACT ON BOTH THE BENEFICIARIES AND THE ECONOMY
“These provisions are not just equitable - they are economically prudent. By reducing regressive taxation, the reforms can stimulate demand, support entrepreneurship, and encourage
The development finance institution has maintained an upward trajectory in its sourcing of loanable funds to the MSME operators. Among such cases was the €25 million secured from KFW Development Bank of Germany in November 2023 to support the nation’s MSMEs and boost the renewable energy sectors towards revitalizing Nigeria’s economy.
Speaking on the deal, Tony Okpanachi, the Managing Director/ CEO of DBN, hailed KFW’s consistent support for Nigeria’s economy across various sectors; he emphasised KFW’s keen interest in witnessing the resurgence of Nigeria’s MSMEs and the energy sector.
“We’ve just concluded an agreement for a credit line of €25m provided by KFW to DBN for MSME financing. As a
...Tax Reform Bills, Fintechs to FastTrack MSMEs Development in 2025 BUSINESS WEEKLY
Continues from page 18
wholesale Development Finance Institution (DFI), DBN is geared to provide credit access to MSMEs through wholesale lending to financial institutions and microfinance banks,” Okpanachi had explained.
Highlighting DBN’s ongoing focus on green and renewable energy initiatives, Okpanachi mentioned the bank’s collaboration with 65 financial institutions specifically to support small businesses involved in these sectors.
ENHANCED MEASURES
Also, in 2024, DBN empowered over 4,000 MSMEs across the country through a combination of digital and physical training initiatives. Building on the success of the scheme, the bank announced the official launch of the 2024 DBN Entrepreneurship Training Programme (DBNETP) -- their flagship annual programme designed to equip MSMEs with the tools they need to thrive.
Last year’s marked the 6th cycle of the DBNETP, as a core element of the DBN’s commitment to supporting the growth of Nigeria’s entrepreneurial ecosystem
“This is the time to appreciate the role of DBN in the economic development of this country. The bank should step up its intervention role at this troubling time to salvage the small businesses battling for survival. This is the most trying time for the MSMEs,” Kennedy Agim, an agro-allied industrialist had told THEWILL
Agim urged the government to extend the necessary support to DBN to ensure it played its role of resuscitating the MSMEs being carried away by the terrific flood of economic challenges.
financial institutions and, more importantly, its impact on their businesses. Our focus extends beyond disbursing funds; we remain actively engaged throughout the process to ensure a tangible impact on both the beneficiaries and the economy,” Dr Okpanachi had said.
THE FINTECH DIMENSION
The boost in digital transactions offered by the fintech companies is expanding commercial activities in the countryside. THEWILL findings revealed that the last festive season witnessed unusual business boom in the rural areas facilitated by e-transactions.
For the first time in many years, the rural areas witnessed idle bank ATM terminals, yet business boomed via digital payment transactions – transfers and POS services – at a level never experienced in the past. Petrol filling stations, transporters like the bus, motor-cycle and tricycle operators, petty traders, market women who sell soup ingredients embraced digital payments.
“Business has never been this good, despite the high cost of things,” a middle-aged woman who identified herself as Beathrice Akor, told THEWILL where she runs a bar and restaurant in a remote village in Imo state. Roadside mechanics, vulcanizers and car wash operators accepted e-payment through transfer or POS, so did the worship centres. This is good news for DBN which is eager to put the Nigerian MSME sector on a global scale.
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Nigeria’s
Capital Market...
In meeting the goals of delivering a productivity-laden economy, extracting economic value from idle public assets should be done through the platforms and instruments of the capital market that guarantees transparency and accountability.
Public assets in prime urban locations (prime properties) should be financed through an urban regeneration programmed. Indeed, assets owned by the government can be secured. This means that the underlying value of the assets can be used as the basis for funding self-financing and self-sustaining projects with strong underlying cash flows that will be turned into tradable instruments on local Exchanges like the FMDQ or NGX.
It is necessary to reenergize the equities market as a source of cheaper capital raise, and not merely an investment trading bourse; by ensuring that specific funding projects embarked on by the government and included in the MTEF are conducted through the capital market; who has shown the foresight to build and capability to adapt and be agile with its financial market infrastructures (FMIs). Expanding the role of the FMDQ Exchange to include public sector equity listing and trading is also necessary.
architecture of the FMDQ and the capital market in general, with the Securities and Exchange Commission (SEC) rising to the opportunity and responsibility of market catalysts.
Proshare analysts noted that the Nigerian capital market saw a mix of optimism and uncertainty in 2024, fueled by global economic trends and domestic policy shifts. Domestically, the equities market benchmark posted notable growth, rising 37.65% in 2024, driven by share price appreciations, foreign capital inflows, new listings, and changes in market dynamics.
This growth, in naira terms, has positioned the Nigerian Exchange (NGX) as one of the leading stock markets in Africa, outperforming several comparable indices.
However, the market also faced challenges, including the impact of high inflation rates and currency depreciation, which have made converting US$ investment returns a negative, consequentially impacting the much-needed inflows.
In the debt market, the federal government continued to embrace the issuance of different variants of bonds, including conventional, domestic dollar-denominated, Sukuk, Eurobonds, and the proposed diaspora bonds, in addition to the short-term treasury bills.
WE’RE IN CHARGE
“We monitor the utilisation of funds by partnering
ILast year, DBN empowered over 4,000 MSMEs across the country through a combination of digital and physical training initiatives. Building on the success of the scheme, the bank announced the official launch of the 2024 DBN Entrepreneurship Training Programme (DBNETP) -- their flagship annual programme designed to equip MSMEs with the tools they need to thrive.
This year will see the success story.
This would mean the Exchange would go beyond the sale and purchase of government debt instruments to proving the platform for the purchase and sale of equity interest in public enterprises.
The implications would be rethinking the governance
As of December 31, 2024, the average benchmark yield for the FGN Bonds stood at 19.44 per cent from 14.50 per cent as of December 29, 2023, while the average benchmark yield for NTBills stood at 25.56 per cent from 8.43 per cent as of December 29, 2023.
20bn Private Placement Shares to Surpass Combined Offer
ndications have emerged that the private placement of 20 billion units of Fidelity Bank’s shares, for which the bank will seek its shareholders’ approval in February, will surpass its recently concluded Public Offer and Rights Issue (Combined Offer).
The development is evident in the bank’s recently disclosed plans to place 20 billion units of its shares in the hands of private investors at a yetto-be-disclosed price.
This fact hinges on Fidelity Bank’s choice of private investors in its newest aim at shoring up equity capital as the race for banks recapitalisation continues into 2025.
In 2024, based on the prior approval of the bank’s shareholders, Fidelity Bank undertook a capital raising exercise by way of a Public Offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share to prospective shareholders.
the bank’s shares in deals worth N239.4 million executed within two days.
Onyeali-Ikpe bought 9 million units of the bank’s shares at N16.10 per share, while she bought 6 million units at N15.75 per share.
The transactions done from November 21 to 22 at an average share price of N15.96 per share were disclosed in the bank’s notice of share dealing by insiders released at the Nigerian Exchange Limited (NGX).
According to reports, Onyeali-Ikpe bought 10 million units of the bank’s shares at an average price of N15.79. This transaction was done from November 26 to 27, 2024. She bought 6 million units at N15.95 per share and 4 million units at N15.55 per share. On December 23, 2024, Abolore Solebo, executive director, Fidelity Bank Plc bought 2.670million units of the bank’s shares at N16.86 per share.
phase of the bank’s capital raising, was judged a resounding success according to analysts.
The bank further stated that it also received shareholders’ approval to accept surplus monies arising from potential oversubscription subject to the Company’s issued share capital.
The post-offer regulatory approval processes are being finalised and expected to be concluded shortly.
The resolutions proposed for approval at the forthcoming EGM will enable the bank leverage on the success of the combined offer to commence the second phase of its plan for achieving the N500 billion minimum capital requirement for banks with international authorisation.
Fidelity Bank also did a Rights Issue of 3.2 billion ordinary shares of 50kobo each to existing shareholders at N9.25 per share on the basis of 1 new share for every 10 shares held at the close of business on January 5, 2024 (the combined offer)
This planned Private Placement will allow Fidelity Bank raise capital through a shorter and faster medium, by selling stocks to a pre-selected number of individuals/institutions rather than on the open market.
THEWILL recalls that on March 28, 2024, the Central Bank of Nigeria (CBN) published revised minimum capital requirements for commercial, merchant and non-interest banks in Nigeria, including a minimum capital requirement of N500 billion for commercial banks with international authorisation, with a capitalisation deadline of March 31, 2026.
Last November, Nneka Onyeali-Ikpe, CEO, Fidelity Bank Plc acquired 15million units of
He had between December 17 and 19, 2024 purchased 7.257 million units at N15.84 per share. Stanley Amuchie, another executive director of the bank had on December 6, 2024 bought 25 million units of the bank’s shares at N16.10 per share.
Fidelity Bank surpassed its capital-raising target of N127.1 billion, marking the completion of the first phase of its recapitalisation efforts. The combined offer, which marked the first
“Based on our phased implementation plan, we intend to achieve the new capital requirement within the CBN’s completion timeframe of March 31, 2026.
“We are excited about the opportunities in our market and pleased with our performance trajectory. The additional capital will enable your Company take advantage of emerging business opportunities while enhancing longterm profitability, competitive advantage and increasing shareholder value,” Fidelity Bank stated in the notice of the extraordinary general meeting.
How ESG Can Drive Nigeria’s Green Financing Market
BY JUDE ENAJERO
In recent years, environmental, social, and governance (ESG) principles have gained significant attention globally. Countries around the world are increasingly paying attention to how businesses and investments align with ESG principles.
In Nigeria, a country rich in natural resources but also grappling with economic challenges and environmental degradation, the growing emphasis on ESG could be a game-changer, particularly in green financing. By aligning invest new opportunities for Nigeria’s economy while addressing critical environmental issues.
WHAT IS ESG?
Before diving into its potential impact, it’s important to understand what ESG stands for.
Environmental: This refers to how a company or investment impacts the planet. It includes things like carbon emissions, waste management, and resource usage.
Social: This dimension looks at a company’s social responsibility, such as its labour practices, community involvement, and respect for human rights.
Governance: Governance focuses on the leadership structure of a company, transparency, business ethics, and how well a company manages its operations.
When combined, these three pillars form the ESG framework, which investors and companies are increasingly adopting to ensure they are making responsible, sustainable, and socially beneficial decisions.
THE CURRENT STATE OF GREEN FINANCING IN NIGERIA
Green financing is crucial for funding projects that address climate change, biodiversity loss, and other environmental issues. In Nigeria, this financing is more important than ever. The country faces a range of environmental challenges, including deforestation, desertification, pollution, and water scarcity. At the same time, Nigeria’s economy is heavily dependent on fossil fuels, which creates a unique challenge: how to transition to greener industries while maintaining economic stability.
In 2021, Nigeria issued its first green bond, raising N15 billion (roughly $36 million at the time) to fund renewable energy and climate resilience projects. This was a significant step toward integrating sustainability into the financial system.
However, compared to global standards, Nigeria’s green bond market is still in its infancy. According to the Climate Bonds Initiative, by 2020, global green bond issuance has surpassed $1 trillion. Nigeria, with its growing green initiatives, is clearly behind.
HOW ESG CAN STIMULATE GREEN FINANCING
IN NIGERIA
The potential for ESG to stimulate green financing in Nigeria lies in the way it connects sustainable development goals with investment. Here are several ways ESG can drive the green financing market in the country:
Attracting international investments
One of the key drivers of green finance is international investment. Institutional investors—such as pension funds, sovereign wealth funds, and development banks—are increasingly seeking sustainable, lowcarbon investments. For example, the European Union’s Green Deal and the US’s push for net-zero emissions have created significant financial flows toward sustainable projects globally.
If Nigeria aligns its financing strategies with ESG criteria, it could tap into this growing pool of
international cap ital. In 2020, global ESG investments were estimated at over $30 trillion, according to the Global Sustainable Investment Alliance (GSIA)
.For Nigeria, presenting itself as a destination for green investments by improving its ESG framework could attract foreign direct investment (FDI), especially in sectors like renewable energy, sustainable agriculture, and eco-friendly infrastructure.
REDUCING RISK AND ENHANCING TRANSPARENCY
ESG criteria help reduce investment risks by encouraging greater transparency and accountability. By focusing on governance structures, Nigeria could strengthen its financial institutions, reduce corruption, and foster a more attractive investment environment. This is crucial for green financing, where investors want to be confident that their funds will be used efficiently and for projects that genuinely benefit the environment.
For instance, if Nigeria strengthens its regulatory frameworks and enforces clearer guidelines on how companies should operate within ESG parameters, it will reduce the risk for investors. When markets know that funds raised for green projects will be used as intended—whether for solar power projects, reforestation, or clean water initiatives—they are more likely to participate in green bond offerings or other ESG-linked financial instruments.
ENCOURAGING LOCAL BUSINESSES TO GO GREEN
also consumers who are increasingly making ecoconscious choices. In the past, many local businesses viewed sustainability as an optional extra. Today, it’s a business imperative. Nigeria has an abundance of untapped renewable resources, such as solar and wind energy. If more Nigerian companies pursue green certifications or issue ESG-compliant bonds, they could tap into both local and international green financing markets. Local businesses adopting ESG standards would also help improve the country’s overall investment climate, providing more opportunities for green financing.
SUPPORTING GOVERNMENT POLICY ON CLIMATE CHANGE
The Nigerian government has already taken some steps toward addressing environmental issues, but there’s much more to be done. Nigeria’s Nationally Determined Contributions (NDCs) under the Paris Agreement aim for a 20% reduction in emissions by 2030. To achieve these ambitious goals, Nigeria needs substantial financial backing.
ESG principles can guide this process. With greater ESG transparency, the government can access international funds more effectively. The World Bank, for example, often ties its financial assistance to countries’ ESG performance. If Nigeria commits to a more robust ESG framework, it could unlock significant financing from both multilateral organisations and private investors.
BUILDING PUBLIC-PRIVATE PARTNERSHIPS
Finally, ESG provides a framework for public-private partnerships (PPPs), which are vital for largescale green infrastructure projects. The Nigerian government alone cannot tackle the massive task of transitioning to a green economy.
By encouraging partnerships with private companies that meet ESG criteria, Nigeria can mobilise the capital and expertise needed for projects in renewable energy, green transport, and sustainable agriculture.
In 2022, Nigeria’s Central Bank announced plans to introduce green lending guidelines for financial institutions to encourage banks to fund environmental projects. This is a promising step, but for the policy to succeed, it needs to be underpinned by strong ESG principles that ensure both the environment and local communities’ benefit.
By encouraging partnerships with private companies that meet ESG criteria, Nigeria can mobilise the capital and expertise needed for projects in renewable energy, green transport, and sustainable agriculture
Another significant advantage of ESG is its ability to influence local businesses to adopt sustainable practices. As more Nigerian companies embrace ESG principles, they can attract not only investors but
CONCLUSION
For Nigeria, ESG is not just a trend—it’s an opportunity. By embracing ESG principles, the country can attract international investment, reduce risk, and improve transparency. The green financing market in Nigeria holds significant potential to address environmental challenges while driving economic growth.
However, realising this potential requires a concerted effort from both the public and private sectors to align with global sustainability standards. If Nigeria plays its cards right, ESG could become the catalyst for a greener, more sustainable future.
•Enajero is a Finance Professional
FISCAL POLICY
Tax Reforms and Nigeria’s Path to Equitable, Sustainable Growth
BY ABAYOMI FASHINA
Nigeria’s tax system is at a crossroads. As the National Assembly deliberates on the proposed tax reforms bills, hopes are high that they could untangle the inefficiencies that have long plagued the nation’s fiscal framework.
Chaired by Taiwo Oyedele, the Presidential Committee on Fiscal Policy and Tax Reforms has presented a framework to reduce the excessive tax burden, streamline revenue administration, and foster a fairer, more inclusive tax system. But do these reforms have the depth and scope to ensure sustained economic growth and fairness?
The proposed reforms aim to address systemic challenge, including the multiplicity of taxes, excessive burdens on vulnerable groups, and fragmented revenue administration.
Highlights include exempting low-income earners from Pay As You Earn (PAYE) taxes, reducing PAYE rates for individuals earning up to N1.7 million monthly, and maintaining zero percent Value Added Tax (VAT) on essential goods such as food, healthcare, and education. These measures represent a pivotal shift toward inclusive fiscal policy. However, implementation and broader economic strategies will determine their success.
A BREAK FOR VULNERABLE NIGERIANS
The focus on alleviating the tax burden for vulnerable groups is a critical step forward. Exempting small businesses with annual turnovers below N50 million from corporate income tax and withholding taxes is a lifeline for enterprises operating on narrow margins.
Similarly, VAT exemptions on essential goods and services such as electricity, transportation, and sanitary products provide much-needed relief to lowincome households.
These provisions are not just equitable—they are economically prudent. By reducing regressive taxation, the reforms can stimulate demand, support entrepreneurship, and encourage informal businesses to transition into the formal economy.
This transition is vital, as Nigeria’s informal sector contributes over 50 percent to GDP yet remains largely untapped for tax purposes.
STREAMLINING TAX ADMINISTRATION
Nigeria’s tax system has long been a labyrinth of complexity, with over 60 taxes levied across federal, state, and local governments. This fragmented approach creates confusion, deters compliance, and stifles business growth. The proposed Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill promise to harmonise revenue collection and simplify administrative processes.These measures, if executed effectively, could enhance compliance and provide businesses with greater predictability. Additionally, friendly tax rules for digital workers and remote employees, alongside clarity on the taxation of digital assets, reflect an understanding of Nigeria’s evolving economic landscape.
As digital economies grow globally, these provisions position Nigeria to attract investment and encourage
innovation. However, their success hinges on robust regulatory frameworks and investment in digital infrastructure.
TACKLING INEQUALITY AND PROMOTING GROWTH
While the reforms rightly prioritise low- and middleincome groups, they also offer benefits to highincome earners and corporations. For instance, VAT exemptions on real estate purchases and limits on taxable accommodation benefits aim to incentivise investment. However, this dual focus raises questions about equity. Are these provisions enough to redistribute wealth and address Nigeria’s staggering income inequality? Or do they disproportionately favour affluent groups while limiting the government’s ability to raise revenues?
CHALLENGES THAT PERSIST
Even with these ambitious proposals, several obstacles could undermine their impact. Regulatory uncertainty remains a key concern. Nigeria’s history of policy reversals and inconsistent enforcement erodes investor confidence. To address this, the government must build institutions that guarantee policy stability and transparency.
Security is another pressing issue. Persistent instability, particularly in the northeast, deters investment regardless of fiscal incentives. A secure environment is foundational for any economic reform to thrive. Additionally, bureaucratic inefficiencies—from cumbersome business registration processes to delays in customs clearance—continue to hinder Nigeria’s ease of doing business. Streamlining these processes will be critical to the reforms’ success.
WHAT’S MISSING?
To fully capitalise on these reforms, Nigeria must adopt a long-term strategy that addresses systemic weaknesses and expands the tax base. Key areas include:
Institutional strengthening: Transparency and anticorruption measures must underpin the reforms. Strengthening oversight mechanisms will ensure
efficient use of tax revenues and bolster public trust.
Public awareness and engagement: Educating citizens about the benefits of the reforms is crucial. Public skepticism, driven by past inefficiencies, could hinder compliance unless there is visible accountability and impact.
Expanding the tax base: Beyond exemptions and incentives, Nigeria must introduce property taxes, curb illicit financial flows, and leverage technology to track economic activity. These measures can enhance revenue without disproportionately burdening low-income groups.
Regional integration: The African Continental Free Trade Area (AfCFTA) offers opportunities to position Nigeria as a manufacturing hub. Tax incentives aligned with regional trade policies could attract investment and foster industrial growth.
CONCLUSION:
A MOMENT OF OPPORTUNITY
The proposed reforms aim to address systemic challenges— including the multiplicity of taxes, excessive burdens on vulnerable groups, and fragmented revenue administration
The proposed tax reforms represent a bold attempt to recalibrate Nigeria’s fiscal framework in favour of inclusivity and efficiency. By addressing the systemic issues of multiplicity, inequity, and inefficiency, they lay the groundwork for a more resilient economy. However, success will depend on effective implementation, policy stability, and a commitment to long-term institutional reform.
As the National Assembly considers these bills, the stakes are high. Policymakers must seize this moment to enact reforms that not only attract investment but also empower citizens, reduce inequality, and ensure sustainable growth. If managed well, these reforms could mark the beginning of a fiscal revolution—a transformative step toward a prosperous and equitable Nigeria.
• Fashina is a Tax and Risk Professional
SHOTS OF THE WEEK
Photo Editor: Peace Udugba [08033050729]
L-R: Senior Special Assistant to the President on Media and Publicity, Mr. Tope Ajayi; Minister of Agriculture and Food Security, Sen Abubakar Kyari; Director, Policy and Coordination, Mr. Ibrahim Tanimu and Director of Information, Dr. Joel Oruche, during a briefing of State House Correspondents on the plans of the Ministry of Agriculture to improve agricultural production at the Presidential Villa in Abuja on January 14, 2025.
Lunga-Ayidu; Global Director, Education, British Council, Ms Maddalaine Ansell; Acting Country Director, Nigeria, British Council, Chilufya Besa; Regional Director, Sub-Saharan Africa, British Council, Lucy Pearson; Youth Advisory Board Member - Going Global Africa, Executive Director of Edvant Edge Africa, Mr Prince Louis Omolayo Adekola; Youth Advisory Board Member - Going Global Africa, Rawan Taha, at a press conference organized by British Council Nigeria, during the three days Going Global Conference at Transcorp Hilton Hotel Abuja, recently.
L-R: Group Managing Director/Chief Executive Officer, Nigerian Exchange Group (NGX Group), Temi Popoola; Chief Executive Officer, Ethiopian Securities Exchange (ESX), Tilahun Kassahun and President, Africa Securities Exchanges Association (ASEA) Pierre Celestin Rwabukumba, during the opening ceremony of Ethiopian Securities Exchange in Addis Ababa on January 10, 2025.
L-R: Deputy Chairman, House of Representatives Committee on Livestock Development, Rep. Kabiru Makama; Co-chairman of the committee, Rep. Wale Raji and Chairman, Senate Committee on Livestock Development, Sen. Musa Mustapha, during the Joint Committee meeting on the 2025 Budget Defence by the Minister of Livestock Development and its agencies at the National Assembly Complex in Abuja on January 14, 2025.
L-R: Representative of Lagos State Governor, Mr Tokunbo Wahab; Chairman, Nigerian Conservative Foundation (NCF), National Executive Council, Justice (Mrs.) RIB Adebiyi; Guest Lecturer and Former Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo and Director General, NCF, Mr. Joseph Onoja ,at the 23rd Chief S. L. Edu Memorial Lecture in Lagos on January 14, 2025.
BY JUDE OBAFEMI
The Nigeria Football Federation (NFF) introduced Eric Chelle on Monday in Abuja, making him the latest head coach of the Super Eagles. The former Mali international steps into a role filled with immediate responsibilities and longterm goals that will test his managerial capabilities from the start. His first assignment involves leading the CHAN Eagles in the African Nations Championship, scheduled for August 2025 in Kenya, Tanzania and Uganda.
The tournament, which features only players from domestic leagues, presents Chelle with the task of building a competitive team from the Nigerian Professional Football League (NPFL). The CHAN Eagles find themselves in a challenging Group D alongside defending champions Senegal, Sudan, and the Republic of Congo. Nigeria’s recent performances in this competition have been below expectations, having missed the last two editions entirely. The preparation time for CHAN remains crucial, with Chelle needing to understand the domestic league structure quickly. He must evaluate players, implement his tactical philosophy, and create a cohesive unit capable of competing at the continental level. His preferred 4-4-2 diamond formation, which emphasises midfield control and attacking fluidity, will need adaptation to suit the players at his disposal. The question of how well these tactical adjustments will work with the available talent pool remains to be seen.
Beyond the CHAN tournament, Chelle faces perhaps his most significant challenge: reviving Nigeria’s 2026 FIFA World Cup qualification campaign. The situation appears particularly difficult, with the Super Eagles currently sitting fifth in their qualification group. They have collected only three points from four matches and trail the group leaders by a considerable margin. The team remains winless in their last seven World Cup qualification matches, a streak dating back to November 2021. This poor run
The tactical requirements for each tournament differ substantially
CHAN, World Cup and Legacy: Can Chelle Deliver?
of form must be addressed immediately if Nigeria hopes to maintain any chance of qualification.
The qualification campaign requires immediate attention and results. With upcoming fixtures against Rwanda and Zimbabwe, Chelle must quickly identify and address the issues that have hampered the team’s performances. This involves improving both defensive stability and attacking efficiency while managing a squad that includes high-profile players like Victor Osimhen and Ademola Lookman, the last two African footballers of the year. The integration of these established professionals with the team’s tactical setup will be crucial for future success.
Team morale presents another critical factor. The recent string of poor results has affected confidence levels within the squad. Chelle’s management style, described by those who have worked with him at Mali, combines strict professional standards with an understanding approach to player relationships. This balance might prove valuable in rebuilding team spirit and creating an environment where players can perform at their best. His experience leading Mali to victories at the last AFCON demonstrates his capability to prepare teams for high-stakes matches.
The administrative aspect of Nigerian football adds another layer of complexity to Chelle’s role. The NFF has faced criticism regarding team management and logistical arrangements. Operational challenges could impact team preparation and performance if not properly addressed. The relationship between the coaching staff and federation officials must also improve to prevent obstacles that can hamper the team’s progress at both CHAN and the remaining World Cup qualifiers.
Public opinion and media scrutiny will likely influence Chelle’s early days in charge. His appointment has already generated mixed reactions from football stakeholders in Nigeria. Some question his credentials,
while others view his previous experience with Mali and understanding of African football dynamics positively. The pressure to deliver results quickly remains high, given Nigeria’s football heritage and passionate fan base. The media’s role in shaping public perception will require careful management through transparent communication and consistent performance improvements.
The financial aspect of the CHAN tournament has changed significantly, with the Confederation of African Football announcing increased prize money. The winners will receive £2.8 million, representing a 75 percent increase from previous editions. This development adds extra motivation but also increases pressure to perform well in the competition. The enhanced financial incentives could help focus players and staff on achieving strong results.
Working with domestic league players for CHAN while managing Europe-based professionals for World Cup qualifiers requires different approaches. Chelle must maintain consistency in his footballing philosophy while adapting to the varying skill levels and experience within these two groups. His ability to blend these distinct elements of Nigerian football could determine his success in both competitions. The challenge lies in creating a unified playing style that works effectively across both teams.
The tactical requirements for each tournament differ substantially. CHAN demands maximising the potential of locallybased players, many of whom lack international experience. The World Cup qualifiers, meanwhile, require coordinating established professionals who play at high levels in Europe. Chelle’s experience coaching Mali, where he achieved positive results, suggests he understands these dynamics and can adapt his methods accordingly.
The development of young talent represents another important consideration. The CHAN tournament provides opportunities to identify promising domestic players who might strengthen the main national team. Integrating these players into the broader national team setup could help build depth for future competitions. This long-term perspective must balance with the immediate need for results in both tournaments.
Looking ahead, Chelle’s success will largely depend on his ability to balance immediate tournament needs with longerterm development goals. The expectations from Nigerian football supporters remain high, reflecting the country’s rich football traditions and previous achievements. Managing these expectations while implementing his vision for the team requires both tactical knowledge and strong leadership skills. The coming months will prove critical in establishing his authority and earning the trust of players, officials, and supporters alike.
ogannah@thewillnews.com
Presidential Pardon Advisory Committee and Distrust of Nigeria’s Justice System
The Federal Government’s establishment of the Presidential Advisory Committee on the Prerogative of Mercy (PACPM) highlights deep-rooted problems within the country’s justice system.
Operating under Section 175 of the 1999 Constitution, this 12-member committee aims to recommend candidates for presidential pardons. However, its creation occurs during a period of significant public distrust in Nigeria’s legal institutions.
The PACPM’s primary function involves identifying and recommending prisoners and ex-convicts for presidential clemency, with emphasis on those who demonstrate rehabilitation potential and minimal risk to society. The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, chairs the committee, bringing highlevel oversight to its operations. The committee’s membership includes distinguished individuals, such as Justice Augustine Utsaha, Professor Alkasum Abba, Chief Akinlolu Olujinmi (SAN), and Professor Nike Sidikat Ijaiya.
Representatives from key institutions complete the roster, including officials from the Nigeria Police Force, Nigerian Correctional Service and the National Human Rights Commission. Religious perspectives are incorporated through representatives from the Nigerian Supreme Council for Islamic Affairs and the Christian Association of Nigeria. The Permanent Secretary for Special Duties and Governmental Affairs participates in proceedings, while the Director for Special Duties and Intergovernmental Affairs serves the vital role of committee secretary.
I would like to note here that public skepticism toward the justice system stems from numerous examples of inequitable treatment. High-profile cases illustrate this disparity, when former governors, such as Joshua Dariye and Jolly Nyame, received controversial pardons in April 2022 while ordinary citizens faced extended pretrial detention for minor offences.
The 2022 Socio-Economic Rights and Accountability Project report highlighted the judiciary’s role in prolonging corruption cases involving politically exposed individuals.
The scale of systemic problems becomes even clearer through statistics. Over 70 per cent of Nigeria’s prison population consists of pretrial detainees, according to a 2023 Nigerian Correctional Service data.
A 2022 United Nations Office on Drugs and Crime survey revealed that 22 per cent of people who dealt with the judiciary admitted paying bribes to influence case outcomes.
Infrastructure deficiencies compound these issues. In 2023, it was reported that more than half of rural courtrooms lack basic facilities like electricity and adequate furniture. This deterioration mirrors broader institutional challenges of underfunding, insufficient training, and limited resources.
The PACPM’s effectiveness will depend on several critical factors. In my view, first, transparency in operations and decision-making processes must become standard practice. Without clear visibility into how pardons get recommended, public trust will remain low.
Secondly, the committee needs to establish and publicise specific, non-discriminatory criteria for pardon eligibility. These standards should prioritise genuine rehabilitation and remorse rather than social or political connections.
Public engagement represents another crucial element for success. By involving civil society groups and maintaining open communication about its work, the PACPM could help make the pardon process more understandable and accessible to ordinary
citizens. Additionally, focusing on prison overcrowding could lead to meaningful reforms in the correctional system.
However, significant obstacles remain. The discretionary nature of presidential pardons creates concerns about potential abuse. Previous controversial pardons, like that of former Bayelsa State Governor Diepreye Alamieyeseigha in 2013, demonstrate how such powers can be misused for political purposes. The committee must work deliberately to prove its recommendations serve justice rather than political interests.
The PACPM exists within a broader context of necessary judicial reform. Beyond reviewing individual cases, addressing fundamental problems requires sustained investment in infrastructure, training, and institutional capacity. Without these broader changes, the committee risks becoming another well-intentioned but ultimately ineffective attempt at reform. Success for the PACPM extends beyond simply recommending pardons. Its true measure will be whether it can help transform public perception of Nigeria’s justice system. This requires consistent demonstration that decisions serve the interests of justice, rehabilitation, and equality rather than reinforcing existing power structures.
The committee’s diverse membership offers some promise, suggesting potential for balanced decision-making. Under the leadership of Attorney-General Fagbemi, the mix of legal luminaries, academics, religious leaders, and institutional representatives provides multiple perspectives on each case. The inclusion of senior legal practitioners like Chief Olujinmi (SAN) and distinguished academics such Professors Abba and Ijaiya adds intellectual depth to deliberations. However, final authority rests with the President, whose choices will ultimately determine whether the PACPM becomes a tool for genuine reform or perpetuates current inequities.
Regular assessment of the committee’s impact could provide valuable feedback for improvement. This might include tracking outcomes for pardoned individuals, measuring effects on prison population levels, and gauging public confidence in the process. Such data could guide adjustments to ensure the PACPM fulfils its intended purpose.
The creation of the PACPM represents one step toward addressing problems in Nigeria’s justice system. However, its success requires more than good intentions. Only through transparent operations, fair criteria, and demonstrated commitment to equality can the committee begin rebuilding trust in Nigerian justice. The path forward demands sustained effort to overcome ingrained skepticism and prove that legal mercy serves rehabilitation rather than political convenience.
The discretionary nature of presidential pardons creates concerns about potential abuse. Previous controversial pardons, like that of former Bayelsa State Governor Diepreye Alamieyeseigha in 2013, demonstrate how such powers can be misused for political purposes. The committee must work deliberately to prove its recommendations serve justice rather than political interests
