Tinubu Hails Afreximbank’s Role in Breaking Africa’s Trade, Financing Barriers
Says Africa must unlock new trade corridors, reduce dependency on imports, others Wale Edun: bank has disbursed over $49bn to economy Oduwole: AATC game changer for Africa’s trade Oramah: We can’t continue to export raw materials, import refined products
Africa’s trade landscape, and commitment to breaking down barriers, bridging financing gaps as well as empowering African businesses to
compete globally.
The president said the feats had been accomplished through flagship initiatives including the African
Continental Free Trade Area (AfCFTA) Adjustment Fund managed by the bank’s subsidiary- Fund for Export Development in Africa (FEDA);
the Pan-African Payment and Settlement System (PAPSS), and trade finance programmes. Speaking at the unveiling of the Continued on page 32
www.thisdaylive.com
J.P Morgan: Decline in Oil Prices Will Push Nigeria’s Current Account Balance into Deficit
Says foreign portfolio outflows likely to accelerate Fitch: Trade tensions, aid cuts to Nigeria, others won’t trigger downgrades
DEEPENING NIGERIAN-FRENCH SPECIAL RELATIONS...
AFREXIM African Trade Centre (AATC) in Abuja, Tinubu, further
James Emejo in Abuja President Bola Tinubu, yesterday hailed Afreximbank’s role in shaping
L-R: Governor of Oyo State, ‘Seyi Makinde ; Governor of Kaduna State, Uba Sani; Governor of Ogun State, Dapo Abiodun; Governor of Lagos State, Babajide Sanwo-Olu; French Minister for Europe and Foreign Affairs, Jean-Noël Barrot; Governor of Kwara State, Abdulrahman Abdulrazaq; Governor of Ebonyi State, Francis Nwifuru; Nigeria’s Minister of Information and National Orientation, Mohammed Idris, and Ondo State Governor, Lucky Aiyedatiwa, during a dinner hosted by the French Minister ahead of French-Nigeria Business Council Summit in Paris.. yesterday
L–R: Husband of the deceased, Dr. Tunji Olowolafe; Daughter, Olanike Anani; Her husband, Afolabi Anani; Son, Afolabi Olowolafe; and Son, Olufunbi Olowolafe, at the funeral service ceremony of the late Mrs. Gbemisola Olutayo Olowolafe held at RCCG Olive Tree Parish, Banana Island, Lagos, yesterday PHOTO: SUNDAY ADIGUN
Okocha in Abuja
Usman,
SIGNING OF CONTRACT FOR THE CONSTRUCTION OF
L–R (Back row): Deputy Managing Director, NLNG, Olakunle Osobu; MD HHILondon, Mr Willy Kim; Minister for Petroleum Resources (Gas), Rt Hon Ekperikpe Ekpo; Chairman, Shell Companies in Nigeria, Mr. Osagie Okunbor; and Managing Director, NLNG Ship Management Limited (NSML), Mr Abdulkadir Ahmed. Front row (L–R): CEO, Temile Development Company Limited, Mr. Alfred Temile; and President/COO & Head of Marketing
Division, HD Hyundai, Mr. SY Park, during the signing of a contract between Temile Development Company Ltd and Hyundai Heavy Industries for the construction of an 88,000-cubic-metre Very Large Gas Carrier, as well as for a supervision contract with NSML worth over $250 million in London on Wednesday
APM Terminals Reaffirm $500m Investment
Commitment to Expand Operation Areas in Nigeria
A high-level delegation from APM Terminals visited Minister of Marine and Blue Economy, Adegboyega Oyetola, and reiterated the company’s commitment to invest $500 million in expanding its areas of operation in Nigeria.
The delegation, led by Chief Financial Officer (CFO) of APM Terminals, Mr. Peter Wikstrom, included Mr. Igor Van den Essen, President, Africa/Europe; Mr. Frederik Klinke, CEO, APM Terminals Nigeria; and Mr. Courage Obadagbonyi, CFO, APM Terminals Nigeria.
Speaking during the meeting in Abuja, Oyetola welcomed the commitment by APM Terminals, describing the company as a model for terminal operations in the country.
He stated, “We are pleased with the quality of infrastructure that APM Terminals has delivered at the Lagos Port Complex, Apapa. The standard you have set should be the minimum benchmark for other terminal operators across the country.
“This fresh $500 million investment must align with our broader agenda to modernise the Western ports and enhance port competitiveness. The Eastern ports will also not be left behind and we
are determined to ensure a holistic upgrade of all Nigerian ports.”
Oyetola emphasised the federal government’s drive to deepen draft levels at the Lagos ports to a minimum of 16 metres, which will allow for the berthing of larger vessels, improve turnaround time, and reduce shipping costs.
He disclosed that the government was actively pursuing full port modernisation and automation, working in close collaboration with the Nigeria Customs Service (NCS) to deploy scanners and eliminate the heavy reliance on physical cargo examinations.
According to him, “With our modernisation efforts, we are confident that Nigerian ports will soon rank among the best in the world. Our goal is to create a maritime environment that is efficient, transparent, and attractive to both local and international investors.”
Mr. Peter Wikstrom commended the ongoing transformation in Nigeria’s maritime sector.
He said, “This is my first visit to Nigeria, and I’m impressed by the scale of opportunity here. Nigeria, as Africa’s largest economy, is a strategic investment destination for APM Terminals.”
Wikstrom said APM Terminals had operated in Nigeria for over 20 years, and saw a promising future
for the country.
He affirmed that the fresh investment will be channelled towards expanding terminal capacity, enhancing cargo handling efficiency, and supporting the federal government’s goal of attracting larger vessels to Nigerian ports.
Mr. Frederik Klinke, CEO of APM Terminals Nigeria, thanked the minister for his commitment to reforms in the maritime sector.
Klinke expressed appreciation
to the minister for his leadership and the strong encouragement he had provided to investors.
He said the minister’s efforts to remove procedural bottlenecks at the port were already yielding results, “and we are proud to be part of the journey to transform Nigerian ports.”
He also said APM Terminals was working closely with the Nigeria Customs Service to invest an additional $10 million in the
acquisition and deployment of modern cargo scanners at Apapa Port, which would significantly boost trade facilitation and reduce cargo dwell time.
Klinke stated that APM Terminals aimed to become the first terminal operator in Nigeria to achieve full deployment of state-of-the-art scanning technology.
He said that strategic move will drastically reduce the reliance on physical examination of containers,
streamline cargo clearance processes, and significantly enhance the overall efficiency and competitiveness of Nigeria’s trade and logistics ecosystem. The visit reflected the growing investor confidence in Nigeria’s marine and blue economy sector, underpinned by policy clarity, regulatory reforms, and a renewed commitment to infrastructure development led by the Federal Ministry of Marine and Blue Economy.
North-east
Sunday Aborisade in Abuja and Bassey Inyang in Calabar
Vice President Kashim Shettima yesterday flagged off the groundbreaking ceremony of the Special Agro-Industrial Processing Zone (SAPZ) in Cross River State, marking a pivotal moment in the country’s agricultural and economic transformation.
Shettima, accompanied by African Development Bank (AfDB) President,
Akume Signs Performance Bond with Permanent Secretaries
Olawale Ajimotokan in Abuja
The Secretary to the Government of the Federation, Senator George Akume, has signed a performance bond with the five permanent secretaries in his office, an action that is expected to cascade to the directors in their respective departments.
The bond was signed yesterday when the SGF inaugurated the Performance Management System (PMS) in OSGF to improve service delivery in line with the Federal Civil Service Strategy and Implementation Plan 2025 (FCSSIP 2025).
While inaugurating the PMS, Akume underscored its importance in promoting effective service delivery in the Civil Service.
‘’PMS is a system that will ensure
that civil servants understand their roles and perform effectively and maximally within clearly defined measurable metrics that will lead them to achieving set targets and goals,” Akume said. He stressed that PMS is designed to enhance transparency and accountability in the service by ensuring that everyone is responsible for delivering on their assigned tasks by setting clear expectations and measuring performance against well-defined key performance indicators (KPIs).
The Permanent Secretary, General Services Office, Dr. Nnamdi Mbaeri, who spoke on behalf of the permanent secretaries, thanked the SGF for the support rendered toward the success of the PMS initiative, which has culminated
in its formal inauguration . He also thanked the Head of the Civil Service of the Federation, Mrs Esther Walson-Jack for driving the PMS initiative in the Federal Civil Service. He assured of the unwavering commitment of the OSGF toward ensuring its full implementation.
Speaking earlier, the Director of Human Resources OSGF, Anthony Obioha, said that the inauguration of the PMS was a call to action for every department, unit, and the staff to take ownership of the PMS and to ensure its full implementation. He added that the PMS will entrench a culture where performance is tracked, feedback is timely, development is continuous, and excellence is recognised and rewarded.
Akinwumi Adesina, Governor Bassey Otu, and other key stakeholders, officially launched the project, a major step towards realising President Bola Tinubu’s vision for a prosperous Nigeria under the Renewed Hope Agenda.
In his address, Shettima described the SAPZ initiative as a game-changer that aligns with the country’s aspirations for economic growth, job creation, and food security. He commended the collaboration among the AfDB, Islamic Development Bank, IFAD, and the Cross River State Government, noting their collective efforts in bringing the project to fruition.
Shettima emphasised that the SAPZ would serve as an important catalyst for national development, particularly in addressing food security challenges and fostering sustainable agricultural growth across the country.
In his remarks, Otu echoed the vice president’s sentiments, emphasising that the SAPZ project perfectly fits his prosperity agenda.
He expressed his confidence in the success of the project, assuring stakeholders that it will benefit agricultural regions in Cross River—including Ikom, Yala, Obanliku, Obubra, and others—by transforming them into key hubs for agricultural productivity and industrial growth.
Otu further highlighted that the project is not just about the present but is designed for long-term prosperity, creating new pathways for growth and economic diversification across the state.
AfDB’s Adesina, in a passionate address, expressed his pride in seeing the SAPZ vision come to life after
years of challenges in implementation. He emphasised the economic potential of SAPZs, particularly in creating jobs, reducing food imports, and fostering private investments.
Adesina also highlighted Nigeria’s vast agricultural potential, calling for a united effort to achieve food self-sufficiency and leadership in agricultural exports. He credited the strong political will from Tinubu, the support from Shettima, and the collaboration between key ministers as vital factors driving the success of the SAPZ initiative.
Meanwhile, Senators and members of the House of Representatives from the North-east geopolitical zone yesterday lamented the exclusion of their region from the federal government’s $530 million SAPZ projects.
Members of the National Assembly Caucus of the geopolitical political Zone, at the end of an emergency meeting wondered why a whole region would be excluded from the all-important programme. Seven states and the Federal Capital Territory (FCT) have been selected for the programme.
At least $530 million is to be provided by the AfDB, IsDB, and the International Fund for Agricultural Development (IFAD) for the implementation of the SAPZ programme.
Addressing journalists in Abuja yesterday, all senators and members of the House of Representatives from the six states of Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe, urged Tinubu to urgently consider their zone for the project.
The Chairman of the North East
in the
Assembly,
who spoke on behalf of his colleagues, said the emergency meeting was convened sequel to the exclusion of their zone from SAPZ despite the region’s enormous potential in all spheres of agriculture and livestock in the country.
He said: “In view of the seriousness of this matter, the members of our caucus, even though the parliament is on recess, cut short their holidays to attend this meeting and express our reservations about our region’s exclusion from the programme.
“Seven states and the Federal Capital Territory (FCT) have been selected for the programme. The North West and South West have two processing zones each - Kaduna, Kano, Ogun, and Oyo states. The South South, South East and North Central have one processing zone each.
“Despite its enormous agricultural potential, the North East is conspicuously missing from the list of states allocated the processing zones. SAPZs aim to transform Nigeria’s agriculture landscape through innovation, privatesector investments, and strategic public partnerships.
“The zones are designed to create agro-industrial hubs that integrate farmers with processors, reduce post-harvest losses and expand rural economic opportunities.
“Geographically, the North East is the largest geopolitical zone in the nation, covering nearly one-third of Nigeria’s total area of 272,451 km2 (105,194sq mi). Our potential in all aspects of the agricultural sector cannot be overemphasised.
Kasim Sumaina in Abuja
caucus
National
Senator Danjuma Goje,
TRUMP’S ADVISOR MEETS TINUBU...
Mr Massad Boulos, the US senior Advisor for Africa, (R) meets President Bola Ahmed Tinubu in Paris … yesterday
N12.5bn Crazy Bill: NERC Fines Abuja,
Ikeja, Enugu, Five Others N628m
Urges them to compensate customers impacted in Q3, 2024 Governors sign MOU with Chinese firm on power sector growth
Stakeholders
say no new plant built in 10 years
The Nigerian Electricity Regulatory Commission (NERC) has slammed eight distribution companies (Discos) with a fine of N628 million for overbilling their customers in violation of the agency’s order on capping of estimated bills for unmetered customers.
The eight Discos sanctioned for noncompliance in the July to September 2024 billing circle include: Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola Discos, according to a statement issued by NERC, yesterday.
The commission also directed the defaulting Discos to issue com-
mensurate credit adjustments to all customers affected by the overbilling.
NERC had in 2020 issued the Order on Capping of Estimated Bills and subsequently issued monthly energy caps which aimed to align the esti- mated bills for unmetered customers with the measured consumption of metered customers on the same supply feeder.
“Pursuant to section 34(1)(d) of the Electricity Act 2023 (EA 2023), the Commission has sanctioned eight Electricity Distribution Companies (DisCos) – Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola, for failing to fully comply with the monthly energy caps issued by the Commission between July – September 2024 (2024/Q3).
“The public may recall that in 2020, the Commission issued the Order on Capping of Estimated Bills (Order No: NERC/197/2020) and subsequently issued monthly energy caps which aimed to align the estimated bills for unmetered customers with the measured consumption of metered customers on the same supply feeder.
“A review of Discos’ billing of unmetered customers for July –September 2024 (2024/Q3) revealed non-compliance with the monthly energy caps issued by the Commission.
“The non-compliant Discos have been sanctioned to pay fines amounting to N628,031,583.94, which is equivalent to 5 per cent of the naira value of the gross overbilling for the period under review.
“The Commission has also mandated the Discos to issue commensurate credit adjustments to all customers affected by the overbilling by 15th May 2025 – the end of the April 2025 billing cycle.”
A THISDAY computation of the 5 per cent showed that just over N12.5 billion was over-billed during the period by the distribution companies.
NERC further reaffirmed its commitment to regulatory compliance and consumer protection within the Nigerian Electricity Supply Industry (NESI).
Also, in an apparent move to boost state energy planning within the states, the Nigeria governors yesterday signed a memorandum of understanding with Energy China, the main company
Tinubu, Abiodun Felicitate Africa’s Industrial Icon, Aliko Dangote, at 68
mainly through the Dangote Foundation, which had uplifted millions of underprivileged Africans.
President Bola Tinubu and Ogun
State Governor, Prince Dapo Abiodun, have congratulated Africa’s foremost industrialist, philanthropist and founder and President of the Dangote Group, Alhaji Aliko Dangote, on his 68th birthday.
Tinubu, in a release issued on Thursday by his Adviser on Information and Strategy, Bayo Onanuga, celebrated the life of a visionary whose resilience and unwavering commitment to Africa’s economic transformation had redefined entrepreneurship on the continent.
Tinubu commended Dangote for his contributions to Nigeria’s industrialisation effort, stating how his ventures – from cement manufacturing to agriculture and the ground-breaking Dangote Refinery – have bolstered the national ambition for self-sufficiency and created thousands of jobs.
Beyond commerce, the president extolled Dangote’s philanthropy,
“Aliko Dangote’s life embodies hard work, generosity, and faith in Nigeria’s potential. His willingness to invest in people and nation-building reflects profound business ingenuity and love for humanity,” he said.
Tinubu prayed that God Almighty will continue to bless Africa’s richest man with vitality, wisdom, and many more years of impact.
The president encouraged younger Nigerians to draw inspiration from Dangote’s enterprise, resilience, and service.
Abioudun, in a congratulatory message on Thursday, said Dangote had proven the inherent zeal, determination and entrepreneurship in Africa.
He said the business mogul’s contributions to the Nigerian economy and African at large, could never be over-emphasised, especially in the area of youth employment and corporate social responsibility.
Abiodun prayed for more fulfilled years ahead for him and requisite strength to continue on the path of
economic growth and development.
He stated, “I want to heartily congratulate my friend and brother, Alhaji Aliko Dangote, on the occasion of his birthday.
“On behalf of the government and the people of Ogun State, I wish him more fulfilled years in
Sotuminu
sound health. May God Almighty continue to guide and guard him.”
Equally, on Thursday, Tinubu extended his condolences to the family, friends, and colleagues of former Chief Judge of Lagos State, Justice Ibitola Sotuminu, who passed away at the age of 86.
responsible for renewable energy and gas production in the Asian country.
Speaking on behalf of the Chairman of the Governors forum, the Governor of Gombe state, and Chairman Northern Governors’ Forum, Inuwa Yahaya, said that the MoU signals a critical step in strengthening the institutional framework for subnational energy governance.
“Since the passing of the Electricity Act, we have witnessed a surge of innovations and reforms aimed at revamping our energy sector. We are moving towards more decentralised energy solutions, encouraging the integration of renewable energy solutions that can provide sustainable and affordable electricity to our communities.
‘‘The Act has also laid the groundwork for improving regulatory frameworks, enabling private sector investments, and fostering publicprivate partnerships, a vital component for the successful implementation of our renewable energy goals.’
‘’We must acknowledge that these advances come with their own set of challenges. Shortfalls in infrastructure, financing, and regulatory hurdles continue to impede progress. We must address these issues collaboratively.
‘’By fostering partnerships between the government, private investors, and international stakeholders, we can develop innovative financing models, improve capacity building, and enhance grid infrastructure to
accommodate renewable energy sources effectively,” he stated.
Also, the Minister of Innovation, Science and Technology, Chief Uche Nnaji, said that the MoU said the partnership reflects Nigeria’s shared ambition to expand access to clean energy, strengthen energy planning at the state level, and promote sustainable technologies.
According to the minister, the scope of the MoU includes deployment of renewable energy infrastructure (solar, wind, hydro), and establishment of a Nigeria-China Renewable Energy Research Centre to drive innovation, technology transfer, and capacitybuilding.
The chairman of the China Energy commission , Dr. Song Liang, pledged full implementation of the MoU and ensure full cooperation between Nigeria and China. He further said that there was the need to prioritise the development the energy sector as well support sharing of intelligence on issues relating to renew energy promotion
Meanwhile, energy stakeholders in the country have said that the inability of Nigeria to build new power plants is one to be worried about as the country cannot progress if its energy stock is not growing year-on- year in relation to gross National Domestic Growth (GDP).
They equally urged the federal government to ensure sustainable energy security for the people in its energy transition initiative.
Technical Issues: NRC Announce Suspension of Train Services
Kasim Sumaina in Abuja
The Nigerian Railway Corporation (NRC) has hinted that a significant disruption occurred on the WarriItakpe rail line on Tuesday, April 9, 2025, due to multiple technical issues involving a train engine failure.
To this end, the management has consequently suspended train services on the route for 72 hours.
The disruption, it said commenced at approximately 1:38 PM and affected both the 8:00 AM departure from Warri and the 2:00 PM train from Itakpe.
on Warri/Itakpe Corridor for 72hrs
Emergency recovery protocols were immediately activated but also suffered a setback due to engine failures.
A statement made available to Journalists Thursday by the Public Relations Officer, NRC, Henrietta Eregare, read: “Following the incident, NRC swiftly arranged for the safe evacuation of all passengers via road transport with adequate security presence.
“Passengers were guided off the affected train to waiting cars approximately 500 meters from the track. Some Passengers chose to
arrange their own transportation before the arrival of official recovery vehicles—a decision NRC understands given the delay.
“In view of the situation, the NRC has suspended operations on the Warri-Itakpe route for 72 hours. This pause will allow our technical team to conduct a full audit, resolve all identified issues, and restore safe and reliable service.”
The statement further added that Ticket Refund and Revalidation Policy ensured that all passengers with tickets for the affected services are eligible
for a full refund or revalidation for future travel, based on their preference.
“Detailed information on refund and revalidation process is available on our online ticketing platforms, via our customer service lines, and at all NRC stations.
“We deeply regret the inconvenience caused by this unexpected disruption. The Nigerian Railway Corporation takes full responsibility and is actively working to restore normal operations as quickly as possible. We remain committed to the safety, reliability, and comfort of our passengers.
Deji Elumoye in Abuja and James Sowole in Abeokuta
Emmanuel Addeh, Chuks Okocha in Abuja and Peter Uzoho, Oluchi Chubuzor in Lagos
CHINESE DELEGATION VISITS SENATE PRESIDENT...
Idris
Woos French Investors, Says Tinubu Has
Reversed Nigeria’s Fiscal Trajectory in 20 Months
Olawale Ajimotokan in Abuja
The federal government said the President Bola Tinubu administration had in just 20 months reversed Nigeria’s fiscal trajectory, recording 3.84 per cent GDP growth in Q1 2024, boosting revenue by over 20 per cent, and significantly lowering the proportion of revenues spent on debt servicing.
Minister of Information and National Orientation, Mohammed Idris, made the compelling pitch to French investors yesterday at the Nigeria Business Forum in Paris.
Idris, who affirmed Nigeria’s commitment to fostering deeper economic ties with France, highlighted Nigeria’s ambitious economic reforms, dynamic market potential, and investor-friendly environment as part of the administration’s push to attract sustained foreign direct investment.
Business France organised the event, which was attended by over 200 French companies in 2023.
The minister acknowledged the long-standing partnership of French firms operating in Nigeria, including TotalEnergies, Lafarge, Peugeot, Danone, Alstom, Schneider Electric, among others. He lauded their contributions across key sectors, such as energy, infrastructure, agriculture, healthcare, and manufacturing.
Idris stated that Nigeria was undergoing an “unprecedented journey of reform,” driven by the Renewed Hope Agenda – an eight-point strategic plan aimed at unlocking the country’s vast economic
potential under the stewardship of President Bola Tinubu.
He stated, “These historic reforms are building a more competitive, transparent, and investor-friendly economy, positioning Nigeria as the gateway to Africa’s booming consumer market under the African Continental Free Trade Area (AfCFTA).”
Some of the key reforms he highlighted included unification and stabilisation of the foreign exchange regime, phasing out of fuel subsidies to curb leakages, and boosting of development funding and cost-reflective electricity tariffs to ensure sustainability.
Others included tax reforms to promote transparency and ease of doing business, legislative and fiscal measures to support private-sector-led growth, trade facilitation through the national single window, and digital reforms, including Immigration and border policy reforms to streamline movement and trade.
Idris highlighted Nigeria’s status as Africa’s largest economy, with a population exceeding 220 million –over 70 per cent of whom are under the age of 35 – and more than 26 years of uninterrupted democratic governance, fostering political stability and institutional continuity as its unique investment appeal.
He assured investors of a wellregulated, rule-of-law-based economy, supported by strong institutions, such as Central Bank of Nigeria (CBN), Nigerian Investment Promotion Commission (NIPC), Securities and Exchange Commission (SEC), and
Federal Competition and Consumer Protection Commission (FCCPC).
He said, “The government is acting as a catalyst for private sector growth through strategic initiatives, like the Renewed Hope
Infrastructure Development Fund (RHIDF), the Nigerian Consumer Credit Corporation (CrediCorp), the Presidential CNG Initiative, the MOFI Real Estate Investment Fund (MREIF), and several others.
“These initiatives are laying the foundation for leveraging trillions of naira in private sector investments across infrastructure, consumer credit, healthcare, real estate, and beyond.”
The minister invited French companies to explore new opportunities in Nigeria’s livestock sector, where the newly established Ministry for Livestock Development presented fresh avenues for partnership.
FG, CS-UNN Begin Campaign on Branded Fortified Edible Oil
67% of Nigerians consume unbranded edible oils
The federal government and the Civil Society Scaling Up Nutrition in Nigeria (CS-SUNN) have commenced advocacy on the use of branded edible oil fortified with micronutrients.
According to a Micronutrients Survey conducted by the government in 2021, 67 percent of Nigerians are consuming unbranded oil, while only 31 percent of the edible oils were fortified.
In a nationwide advocacy campaign spearheaded by the government along with CS-SUNN in partnership with E-Health Africa, and with strategic support from GAIN (Global Alliance for Improved Nutrition), the parties sought to develop strategies to enhance compliance with fortification standards and ensure fortified oils reach consumers at the recommended levels.
Speaking at the two-day workshop in Abuja, the Director of Nutrition at
NDIC to Pay 100% Liquidation Dividend to Depositors of 20 Failed Banks
The Nigeria Deposit Insurance Corporation (NDIC) has said it would pay 100 percent liquidation dividends to depositors of 20 previously failed banks across the country.
The Managing Director/ Chief Executive of NDIC, Mr. Bello Hassan, made this known yesterday during the agency’s special day at the ongoing 36th Enugu International Trade Fair. In his address, Hassan said the cooperation has since commenced preparations to pay the first tranche of liquidation dividends this month.
Hassan, who was represented by the South East Zonal Coordina-
tor of NDIC Pamela Robert, said the NDIC remains committed to ensuring a stable financial environment that safeguards depositors and builds public confidence, enabling businesses to thrive and contribute to the nation’s economic development.
He clarified that, in accordance with their statutory mandate, the NDIC as a liquidator, was responsible for winding down the affairs of the failed bank, reimbursing insured depositors, recovering debts owed to the bank, and realising its assets for the payment of depositors and other claimants.
He maintained that the corporation remains dedicated to protecting bank deposits from the adverse
effects of bank failures.
“A recent example is the revocation of Heritage Bank’s operating license by the Central Bank of Nigeria (CBN) on June 3, 2024,” he said.
“In line with its statutory mandate, the Corporation immediately began the liquidation process, including verification and payment of insured deposits of up to a maximum of N5 million per depositor within four days.”
He noted that the swift action has enabled the payment of insured amounts to the majority of the bank’s depositors using their Bank Verification Numbers (BVN) as a unique identifier to locate their alternate accounts for payment.
the Federal Ministry of Health and Social Welfare, Ladi Bako-Aiyegbuisi, described the meeting as a critical step in repositioning food fortification in Nigeria.
She acknowledged key participants, including the Abia State PS, State Nutrition Officers (Lagos, Abia, Kano), and CS-SUNN coordinators.
According to her, despite over 20 years of fortification efforts, malnutrition remains alarming: with 67 percent of Nigerians consuming unbranded oil, while only 31 percent of the edible oils are fortified.
She said the target was to reduce unbranded oil consumption from the present 67 percent threshold to zero percent within four years.
While stressing the role of the media in attaining the goal, BakoAiyegbuisi commended CS-SUNN for supporting the government in convening this dialogue.
Key agenda of the meeting was how to address the widespread
consumption of non-fortified, unbranded oils to improve food safety and nutritional standards and promoting healthier dietary practices among workers to enhance productivity and well-being.
Speaking in an interview with journalists, the Senior Technical Adviser of Civil Society, CS-SUNN, Dr. Olanrewaju David Olayemi, said it was disheartening that only 33 percent of families in Nigeria consume fortified edible oil.
He said what it meant was that two out of every three Nigerians consumes unbranded edible oil and therefore unfortified oil.
“Our campaign is aimed at better health through large scale food fortification and phasing out of non-fortified oils in Nigeria.”
Olayemi said the campaign, which would run till the end of the year, was aimed at convincing people to change their behavior using the instrumentality of the traditional
media and social media to be able to get our messages through.
According to him, the campaign was commencing at the national level and would also take place in three states namely Lagos, Abia and Kano He said it was expected that all edible oil coming into the country would be branded, which meant that it would be easier to enforce quality control, adding effort will now focus on ensuring that locally produced oil is also branded.
“The only way we can trace and evaluate the oil is by branding. When the oil is branded, it will be easier for the regulatory bodies like NAFDAC, Standard Organisation of Nigeria to regulate their quality,” he said Olayemi identified some of the challenges affecting the promotion of the sale and consumption of fortified edible oil to include poor regulatory enforcement, lack of capacity, and empowerment of the agencies mandated to regulate the sector.
MTN Extends MIP 2025
Application Deadline to April 12
Funmi Ogundare
MTN Nigeria has announced the extension of the application deadline for its highly coveted Media Innovation Programme (MIP) to April 12, 2025.
Originally slated to close on April 7, 2025, the new deadline provides additional time for a wave of aspiring applicants eager to join the next generation of media changemakers. Now in its fourth year, the MTN Media Innovation Programme, organised in partnership with the School of Media and Communication, Pan-Atlantic University (PAU) has become a career-defining fellowship
for Nigerian media professionals. Tobe Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria, in a statement, explained that the program offers a six-month, fully-funded certificate program packed with on-site training, international exposure, digital storytelling masterclasses, and access to a powerful alumni network.
The deadline extension, he said, is a response to the increasing volume of last-minute applications and growing demand for more inclusive access across the country.
“We’ve seen a remarkable surge in interest from content creators and journalists outside major urban hubs.
After the webinar on April 4 hosted by past MIP fellows to support the applicants, it was important to extend the deadline to enable more diverse voices have a chance to be part of this experience”, he stated. In a rapidly shifting media landscape, where traditional models are being upended by digital disruption, Odigbo said programs such as MIP are filling a critical gap, equipping media professionals with the tools to adapt, innovate, and lead. His words: “With Nigeria’s entertainment and media industry projected to grow from $9 billion in 2023 to $13.6 billion by 2028, MTN’s initiative could not be timelier.”
Onyebuchi Ezigbo in Abuja
L–R: Member of the Chinese People’s Political Consultative Conference (CPPCC) National Committee, Mr. Zhou Bo; Chargé d’Affaires of the Chinese Embassy, Mr. Zhang Yi; Vice Chairman of CPPCC National Committee, Hu Chunhua; President of the Senate, Godswill Akpabio; Senate Deputy Whip, Onyekachi Nwebonyi; Senators Rufai Hanga, Titus Zam, and Emmanuel Udende, during a courtesy call on the Senate President by the Chinese delegation, yesterday
Gideon Arinze in Enugu
FOOD AND BEVERAGE TRAINING…
L-R: Student representing Yummy You Enterprise, Osagie Anthony; Ibitoru Allwell-Brown of Angies Ice Cream; General Manager, CosmosTrade Nigeria Limited, Atinuke
during training and exhibition organised by Gelato & Coffee University in Lagos…yesterday
Alleged N5.78bn Diversion: ‘N1bn Loan Used to Augment Payment of Civil Servants, Pensioners’ Salaries’
Hammed Shittu in Ilorin
Former chairman of the Kwara State Universal Basic Education Board(SUBEB) yesterday told the state High Court that the N1 billion loan got from the board in 2013 was used by the then state government to augment salary payment of civil servants and pensioners being owed in the state.
Alhaji Daibu, who is also a principal witness of EFCC in the case of alleged diversion of N5.78billion Kwara State
Education Board (KWSUBEB), testified against former state Governor, Alhaji Abdulfatah Ahmed, and his Finance Commissioner, Alhaji Demola Banu.
The ex-chairman of the board, who is also a lawyer, also said that the former governor and the ex-finance commissioner were not signatories to the SUBEB account.
Daibu had narrated to the court that the then Commissioner for Finance, Banu, had approached the board to explain about the paucity
Oodua Unity Group Coalition Insists on Regionalism
Ayodeji Ake
The Oodua Unity Group, has called for regionalism, saying its as a result of recent developments in Nigeria with regards to politics, governance.
According to a press statement signed by its Administrative Secretary, Kola Aare, the group said the growth has reawakened the Yoruba to the self-determination essence of struggle for survival and development in the country.
“This has resulted in the clamour for the same thing – the Yoruba Nation within or outside Nigeria – over time. Differences in approach fired internecine struggles for supremacy. This was further exacerbated by interactions with political parties and politicians within
the polity in the last 25 years.
“It was during this period that the 2014 National Conference held and resolutions deemed minimalist solutions to the crisis of Nigerian state were taken, but yet to be implemented.
“Interestingly, the confab resolution favours the rights of ethnic nationalities, including ethnic minorities to internal self-determination. As the crisis deepens and Nigeria continues to manifest the most palpable symptoms of a failed state, the consciousness of the Yoruba has become re-awakened.
“Today, two clear calls, not mutually exclusive, rent the air: First is the call for Yoruba nation outside Nigeria; the other is the call for Regionalism,” the group said.
Ex-Senate Chief Whip, Roland Owie, Loses Wife
Adibe Emenyonu in Benin City
Former Chief Whip of the Senate of the Federal Republic of Nigeria, Senator Roland Owie, has lost his wife, Lady Helen Owie, who died at the age of 71.
Senator Owie said his beloved wife, Helen, passed away peacefully in Abuja on Wednesday, April 9, 2025, after a brief illness.
In a statement Senator Owie reflected on their more than 50 years together, saying: “When Helen came into my life over five decades ago, she lovingly made our home a safe space. She united my family and treated my late mother, Aghatise Owie, who delivered 11 children for my father of whom I am the only surviving child with
the deepest compassion and honour.
“She showed unwavering love to my family members and friends, and through her faith, strength, and grace, held us all together.”
Describing her as a Godfearing woman, a great manager of resources, and a devoted wife and mother, Senator Owie added: “Helen was a true devotee of the Blessed Virgin Mary. Her life was a testament to humility, kindness, and enduring service. She was my pillar, my peace, and my partner in all things. Her quiet strength and abiding faith were the foundation of our family life.”
Lady Helen Owie is survived by her husband, children, grandchildren, and a wide circle of loved ones whose lives she touched deeply.
of fund in the government and the need to request a N1billion loan from the SUBEB accounting to pay workers and pensioners.
He said that the board had met and sought commitment of the state government’s request in written form before the release
was approved. The EFCC witness, who said that the state government had said that the loan would be
repaid from the monthly revenue allocation, added that money was not paid back before he left office and the board was dissolved.
VC Advocates Skills Education Policy for Internally Displaced Adolescents
Benjamin Nworie in Abakaliki
The Vice-Chancellor of David Umahi Federal University of Health Sciences Uburu in Ebonyi State, Prof. Jesse Uneke, has advocated a policy on skills education for internally displaced adolescents in Nigeria.
Prof. Uneke, who made the call during a national stakeholders’ engagement in Abuja, noted that Life Skills Education can provide adolescents IDPs with psychosocial, emotional, cognitive, behavioural, and resilience skills to navigate challenges.
The event was organised by
the African Institute for Health Policy and Health Systems (AIHPHS) Nigeria and Brooks Insights Limited under the auspices of the Global Partnership for Education Knowledge and Innovation Exchange (GPE-KIX) supported by the International Development Research Centre (IDRC) Canada. Speaking on the project topic: ‘Building Resilience through Inclusive Development and Gender-responsive Life Skills Education for Internally Displaced Adolescents (BRIDGE-IDAs): Understanding the Evidenceto-Policy Reform Process.
2027: Nsukka Leaders Endorse Mbah Over Massive Infrastructure Devt in Enugu
Gideon Arinze in Enugu
Leaders of Enugu North Senatorial District have endorsed Enugu State governor, Dr. Peter Mbah for a second term in Office to allow him continue his transformation agenda across the state particularly.
The Nsukka leaders who
convened at the Adada House, Nsukka, on Thursday, under the aegis of Enugu State Coalition for Progress, Enugu North Senatorial Zone Branch, comprised a cross section of socio-cultural groups, the academia, representatives of Traditional Rulers, captains of industry, businessmen and
women, politicians, market men and women, farmers association, labour leaders, among other leaders drawn from the 6 council areas of the zone.
In an interactive session by a panel of discussants, the leaders cited the litany of monumental infrastructural developments of
the governor across the state, particularly in Nsukka Zone, as the reasons behind their endorsement. Among those who attended the meeting were the former deputy governor of the state, Chief Okechukwu Itanyi, Senator Chuka Utazi of the All Progressives Congress (APC).
Labour Party Chieftain: Abure is APC’s Agent, Arrest Him for Contempt
Wale
Igbintade
A prominent Labour Party(LP) leader in Abia State, Mr. Nwabueze Onwuneme, has called on the All Progressives Congress(APC)-led federal government to arrest Mr. Julius Abure for openly defying the
Supreme Court’s ruling and charge him with contempt.
Onwuneme stated that Abure should have already faced charges for contempt and gross misconduct, had he not been allegedly backed by powerful figures within the ruling party.
Abure has consistently
maintained that the Supreme Court did not remove him as the National Chairman of the LP, despite the court’s judgement.
In a press release, Onwuneme accused the APC-led government of attempting to silence opposition parties ahead of the 2027 elections, pointing out the government’s failure to address pressing issues facing Nigerians. He challenged the federal government to uphold the rule of law, stressing that, despite the certified ruling from the Supreme Court removing Abure from office, he continues to present himself as the LP chairman.
AfDB President, Adesina, Pledges Support for
Bassey Inyang in Calabar
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has pledged substantial investment support for health and agriculture sectors in Cross River State.
Speaking last Wednesday
C’River
Health, Agric Sectors
during a state banquet organised in his honour, Adesina outlined bold plans to support primary healthcare delivery in addition to the investments they are already promoting in the state with the launch of the Special Agro Processing Zone project. He commended the leadership qualities of the Cross River State Governor, Senator Bassey Otu, noting that the governor is indeed a “passionate, action-driven, and accountable leader, who doing so much in infrastructure.”
Adesina noted that with what Governor Otu has done in partnership with Afrixem Bank for the Bakassi Deep Seaport project, Cross River State will soon be a very important logistics and industrial processing hub beyond Nigeria, covering the entire West Africa and the Gulf of Guinea.
Cosmos Trade Nigeria Explores Tourism Potential through Beverage Training
Kayode Tokede
Cosmos Trade Nigeria Limited yesterday expressed interest to boost Nigeria’s tourism potential through food and beverage innovation with its training outfit, Gelato and Coffee University, situated in Lagos.
The Business Development Manager, Cosmos Trade Nigeria Limited, Mr. Demilola Olaniyi, in a chat with journalists during the company’s Gelato and Coffee University training/exhibition, disclosed that it was recently certified as the 13th Carpigiani Gelato University in the world,
and offers a unique opportunity to drive tourism and empower aspiring entrepreneurs in the food and beverage industry.
He said: “I see this as a very good thing for Lagos State, Nigeria, and the world essentially because this can be added to our tourism portfolio here, and it can
bring a lot of traction to our states and country.”
He explained that Cosmos Trade Nigeria set up the training facility to fill a gap in the hospitality sector by providing hands-on training in coffee and gelato production for both beginners and professionals.
Emeka Offor Commits $5m to Rotary’s Maternal, Child Health Programme
Nigerian Rotary member and philanthropist Sir Emeka Offor has committed $5 million through the Sir Emeka Offor Foundation (SEOF) to The Rotary Foundation to expand and strengthen its initiative aimed at reducing maternal and neonatal mortality in high-need
areas of Nigeria. Speaking on this development, Offor, who is a member of the Rotary Club of Oraifite, District 9142, Nigeria, said: “Helping mothers and babies survive and thrive is among the greatest investments we can make in
Nigeria’s future. We have seen a unique opportunity to build upon a Rotary-led program to further turn the tide on maternal and child mortality by working together. This partnership marks a powerful step forward for the health and wellbeing of families across Nigeria.” Nigeria has some of the highest maternal and newborn mortality rates in the world. Improving access to prenatal care and skilled deliveries in equipped facilities has been shown to reduce this burden.
Fafure and Business Development Manager, CosmosTrade Nigeria Limited, Demilola Olaniyi,
POLITICS
Email: deji.elumoye @thisdaylive.com
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Senators and Race for Mega Empowerments
10th National Assembly lawmakers especially Senators appear to be changing the optics and dynamics with mega empowerments of their constituents in recent times. Folalumi Alaran reports.
While the major function of the legislative arm is to make laws and perform oversight functions, the urgent need to solve socio-economic problems in the society has increased the burden on the shoulders of the lawmakers, both at the state and the federal level.
It was against this background that the lawmakers of the 10th Senate, in a bid to reinvent the will and put smiles on the faces of the constituents, decided to change the narrative.
Incidentally, the decision of the lawmakers to attract dividends of democracy to their people has created a healthy rivalry among the federal lawmakers who are constantly in the race to outdo one another in various empowerment programmes for their people.
From Ogun West to Kwara Central, Akwa Ibom to Ekiti, Senators are no longer engaging their constituents with token gestures. Instead, the age of constituency capitalism, an era of large-scale, high-impact distribution of resources, appears fully on ground
Age of Super mega Empowerment
The empowerment of tsunami that is ravaging the 10th Senate was first ignited by Senator Olamilekan Adeola (Yayi) of Ogun West, who staged what many now consider the blueprint of modern-day constituency empowerment.
Yayi, who is also the Chairman of the Senate Committee on Appropriations, dazzled observers and constituents alike with a massive rollout of empowerment items: vehicles, equipment, grants, and tools worth billions of Naira.
Over 5,500 market men and women received cash grants to scale up their businesses. The sheer scale of the event left tongues wagging, and colleagues watching.
Yayi is believed to be eyeing the governorship seat of Ogun State in the 2027 elections.
Not long after, the President of the Senate, Senator Godswill Akpabio, responded in kind, in what many perceived as a symbolic reinforcement of his grip on the Senate.
In his home state of Akwa Ibom, Akpabio distributed vehicles, motorcycles, and tools also reportedly worth billions.
Perhaps the most disruptive entry into the league of empowerment juggernauts came from the North Central — Senator Saliu Mustapha, representing Kwara Central.
His programme, named Alubarika 1.0: Renewed Hope Empowerment, benefitted over 7,000 constituents. Items ranging from tractors, space buses, transformers, rice milling machines, cassava processing machines, tricycles, sewing machines were distributed free to beneficiaries.
Mustapha also announced cash grants for over 1000 constituents. He told journalists that the items were distributed to complement the strides of President Bola Tinubu in the agriculture sector.
Political watchers in Kwara State say the impact “shook the state to its dry foundation.” For weeks after the programme, it became the talking point almost across the country.
According to a development expert based in Ilorin, Yinka Owoeye: “Senator Mustapha is not just spending money, he is building a movement, his empowerment strategy fuses legacy, empathy, and ambition. It is carefully curated to reflect his place in the politics of tomorrow.”
Earlier in February, 2025, Deputy Senate President, Senator Barau Jibrin empowered APC grassroots leaders in Kano State with 61 cars and 1,137 motorcycles.
The event saw beneficiaries drawn from all the 44 local government areas and 484 wards, with APC National Chairman, Dr. Abdullahi Ganduje in attendance.
The gesture aimed to boost mobility and strengthen party structures across the state.
Barau also revealed plans to expand the initiative, including providing 5 million business loans to unemployed graduates.
He emphasised that future phases would target women, teachers, and other vulnerable groups, describing the programme as part of
his broader vision for inclusive empowerment and sustainable development in Kano.
Constituency Projects or Constituency Politics?
Although Nigerian lawmakers have long distributed materials and funds in their respective cobstituebcies, what is unfolding now is unprecedented in both scale and optics. The
question remains: are these mega empowerments a response to genuine grassroots needs, or simply high-budget tools of political consolidation?
To Joe Ifeanyi, of the Centre for Democratic Responsibility: “We must distinguish between empowerment for development and empowerment for dependency. When items are given without a long-term economic plan, they become breadcrumbs, not change.”
Still, many argue that in an economy choking on inflation and dwindling federal allocations, such interventions are more necessary than ever.
“You can call it politics, but at the end of the day, someone’s child got a scholarship, a farmer got a sprayer, a widow got seed capital. Let’s not overthink mercy”, said Mallam Saka Babatunde, a community leader in Ilorin South LGA of Kwara state.
A New Arms Race?
There is now an unspoken competition among Senators. The buzz on social media after each programme fuels expectations in other constituencies. Some worry that the chase for who did it bigger may distort legislative focus and promote short-term populism.
“Legislation is now playing second fiddle to logistics,” observed Prof. Adebanjo Thomas, a political economist at the University of Lagos.
“The Senate risks becoming an events-planning chamber if we don’t check this optics-driven culture. The real work is lawmaking, not giveaways.”
Others welcome the development, saying it forces lawmakers to justify their mandate.
“This is good for democracy,” counters Halima Zubair, an activist in Kaduna. “For once, elected officials are in fierce competition to serve the people. That is how it should be.”
What Next?
As the 10th Senate marches on, the age of mega empowerment may well define its legacy. The optics are powerful. The politics are evolving. But the stakes are also rising. Will these programmes translate into measurable development? Will they outlive the election cycle that often fuels them? Will they democratise access or entrench new power monopolies? Only time, and perhaps the 2027 general elections, will tell.
Disu: Parents’ Role as First Teachers of Children
Tunji Disu reflects on his tour of duty and stresses the need for parents to play roles expected of them by bringing up their children via proper training and discipline.
Law and order do not begin at the police station or the courthouse; they begin at home, in the quiet corners where parents teach their children right from wrong. When this foundation cracks, society inherits the fallout.
As a police officer, I’ve witnessed this truth play out in heartbreaking ways— parents arrive at stations, not with pleas for justice, but with demands for us to parent for them. “I want you to detain my child, I want you to discipline him.”
“Torture him,” as though pain alone could rewrite a life long gone astray.
A retired soldier once came into my office in Ago Iwoye, demanding we kill his son, a university student arrested for cultism.
His rage was volcanic. Yet, the very next day, that same man returned, food in hand, asking after his son’s well-being. When I joked, “So you don’t want us to kill him again?” his eyes betrayed a truth every parent knows: anger is often the flipside of helpless love.
Years later, I met that young man again in Shagamu. He’d survived his schooling, married, and become a father himself.
When I asked if he’d ever want his daughter near cultism, his “No!” was instant.
Another father once begged us to help keep his drug-addicted son for weeks.
“Keep him here,” he insisted. We refused— not out of indifference - but because cells are not rehabilitation centres. If anything were to happen to the boy, or if he escaped, who would the father blame? The police. Yet discipline cannot be outsourced. It must be nurtured, patiently and persistently, at home.
This brings me to a delicate truth: many
of us grew up in an era where parents and teachers wielded firmer hands. My own father believed in the “reset button” of a good beating—a method he swore straightened my stubbornness (and yes, I laugh about it now). Teachers, too, disciplined freely, with canes and stern words. But times have changed.
Today, some see corporal punishment as archaic, even abusive. I am not here to debate methods—what worked for one generation may not work for another. What matters is engagement.
The problem today isn’t a lack of discipline; it’s a lack of presence. Parents once corrected their children directly, even if harshly. Some have handed that duty to strangers—teachers, police, and social workers. But no institution can replace a parent’s guidance. A child raised without boundaries at home will test them elsewhere—in cults, drug dens, or crime.
To be clear: I am not discouraging parents
from reporting wayward children. If your son steals or your daughter vanishes, come to us. We will help. But do not confuse reporting with surrendering. When you hand us your child and say, “Fix them,” you misunderstand our role. We enforce laws; we cannot replace love. We investigate crimes; we cannot teach values.
The retired soldier’s son changed not because we jailed him, but because his father chose to fight for him, not against him.
Parents, hear me: society’s fabric is woven in your living rooms, at your dinner tables, in the quiet moments when you choose patience over fury, presence over absence. The police cannot replace your voice. We cannot instil the values you withhold. Our cells are not classrooms; handcuffs are not teaching tools. When you outsource parenting to the state, you gamble with life—and with the peace of communities.
Yes, parenthood is hard. It is exhausting, thankless, and often terrifying. But it is also sacred. Your children watch how you love, how you forgive, and how you rise after failing. They notice when you prioritize work over conversations, screens over eye contact, and fear over understanding. The boy who joins a cult, and the girl who slips into addiction—they are not born rebels. They are shaped by unmet needs, unheard cries, and lessons left untaught.
-Disu, newly promoted Assistant Inspector-General of Police, writes from Abuja.
www.thisdaylive.com
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SUPREMACY OF SUPREME COURT JUDGMENTS
Political parties should comply with their own rules and regulations, argues CHUKS OKOCHA
See page 21
THE RIGHT AND WRONG OF ONE DOLLAR MEALS
JOSHUA J. OMOJUWA argues that earning one dollar a day is a state of poverty anywhere in the world
See page 21
EDITORIAL
ACCOUNTABILITY
AND THE LOCAL GOVERNMENTS
The sole administrator must lead with a clear vision, a steady hand, and a commitment to both security and governance excellence, writes ABIODUN OLUWADARE
IBOK-ETE IBAS AND THE RIVERS STATE EMERGENCY
A state of emergency is one of the most drastic constitutional measures a government can take in response to a serious security threat. It is not a routine political intervention but an extraordinary decision signaling a breakdown of governance, law, and order. When declared, it typically indicates that conventional civil authority has been rendered ineffective, and urgent action is necessary to prevent total anarchy.
The declaration of a state of emergency in Rivers State, resulting in the suspension of the Governor and the state legislature, underscores the severity of the crisis. As a major oil-producing region and a commercial hub, Rivers State plays a pivotal role in Nigeria’s political and economic landscape. Instability here has national and even international implications.
Against this backdrop, the appointment of Vice Admiral Ibok-Ete Ibas as the Administrator of Rivers State is more than just a bureaucratic decision—it is a strategic move aimed at restoring stability and order. His wealth of experience in security management, strategic leadership, and crisis response makes him uniquely suited for this challenging assignment.
Vice Admiral Ibok-Ete Ibas is not just another military officer. He is a seasoned strategist, an expert in security management, and a leader with deep experience in navigating Nigeria’s complex national security landscape.
Having served as the Chief of the Naval Staff from 2015 to 2021, he played a crucial role in Nigeria’s maritime security operations. During his tenure, he spearheaded efforts to combat piracy, illegal oil bunkering, sea robbery, and other maritime crimes—issues that directly impact the Niger Delta region, including Rivers State. His leadership was instrumental in strengthening Nigeria’s naval capabilities and fostering regional security collaborations.
His appointment as Rivers State administrator is no accident. His career has been defined by discipline, strategic thinking, and crisis management—all qualities urgently needed to stabilize Rivers State under the present quagmire.
The foremost challenge in Rivers State is the breakdown of security, which necessitated the emergency intervention. The state has witnessed recurring violence, political rivalries escalating into armed conflicts, and criminal activities undermining public safety. It would be recalled that Rivers State is at the heart of Nigeria’s once restive oil producing Niger Delta region and the emergency rule declaration was pronounced following reports of explosions rocking oil pipelines. As a former military chief, Vice Admiral Ibas is expected to take decisive action in restoring law and order. His administration will likely emphasize intelligence-led security operations and a coordinated approach among security agencies to neutralize emerging threats. However, restoring order requires more than deploying security forces. A balanced strategy that combines firm enforcement with dialogue and engagement with key stakeholders is crucial. A heavy-handed approach could escalate tensions, while a well-calibrated response can bring lasting peace.
Rivers State has long been a battleground for intense political rivalries, which have at times
turned violent. Vice Admiral Ibas steps into this politically charged environment with a mandate to act as a stabilizing force. His military background, emphasizing neutrality and discipline, gives him an advantage in ensuring governance is not influenced by partisan interests.
To succeed, he must engage political actors across different factions, build confidence among stakeholders, and demonstrate impartiality. His ability to de-escalate tensions through strategic engagement will be a key determinant of his success.
Given his vast experience in military operations, Vice Admiral Ibas is expected to bring a sophisticated and intelligence-driven approach to security management in Rivers State.
This means strengthening collaboration between the military, police, and other security agencies to ensure a unified response to threats. Under his leadership, proactive intelligence gathering should take precedence over reactive security measures.
His understanding of the region’s security dynamics—especially issues like oil bunkering, cult-related violence, and armed militancy— positions him well to implement measures that address the root causes of insecurity.
As a vital economic hub, Rivers State contributes significantly to Nigeria’s oil revenue and overall economic output. Political instability and security challenges threaten investors' confidence, disrupt business operations, and affect the livelihoods of millions.
A major task for Vice Admiral Ibas will be to reassure the business community, restore economic stability, and create an environment where commercial activities can thrive. This will involve stabilizing security, addressing concerns from local and foreign investors, and ensuring that economic infrastructure remains operational.
Additionally, his administration must prioritize the welfare of ordinary citizens by ensuring that public services—education, healthcare, and infrastructure—continue to function despite the emergency.
Preparing Rivers State for a Return to Civil Rule:
While his appointment is meant to address an urgent crisis, it is not a permanent arrangement. A state of emergency is a temporary measure, and the ultimate goal is to restore democratic governance.
Vice Admiral Ibas will be judged not only by how well he stabilizes the state but also by how effectively he paves the way for a smooth transition back to civilian leadership. His tenure must be marked by institutional strengthening, confidence-building measures, and policies that ensure a peaceful return to democratic rule.
This means developing a road map for democratic restoration, ensuring fair governance in the interim period, and fostering an atmosphere where credible elections can take place once stability is achieved.
Vice Admiral Ibas has the opportunity to shape his legacy positively, but history has shown that even the most robust and disciplined leaders can succumb to certain excesses if they are not careful.
While Ibok-Ete Ibas brings a reputation for discipline, strategic competence, and impartiality to this delicate assignment, the context in which he now operates demands both strength and restraint. A state of emergency is a double-edged sword—it offers an opportunity for decisive leadership but also carries inherent risks if not carefully managed.
While security forces will play a role in restoring order, long-term peace requires political reconciliation, economic empowerment, and trust-building. A leader who rules only with an iron fist risks alienating the very people he seeks to govern. The temptation to rely exclusively on military might in restoring order is understandable, especially for a leader emerging from a defence background. However, the Rivers State crisis is as much political and socioeconomic as it is security-related. The use of force may bring short-term compliance, but lasting peace will only come through engagement. Vice Admiral Ibas must foster inclusive dialogue with local stakeholders—traditional rulers, civil society, women’s groups, youth leaders, and political actors. Without listening to the heartbeat of the people, security operations risk being viewed as occupation rather than liberation.
Rivers State has a history of intense political rivalries. Some politicians may attempt to use his administration to settle scores or push their agendas. If he is perceived as favoring one faction over another, his credibility will be undermined. He must remain neutssral and resist any attempts to be drawn into political schemes.
In the murky waters of Rivers State politics, neutrality is not just ideal—it is essential. Vice Admiral Ibas must resist being used as a pawn in the political chess games that have often destabilized the state. There will be overtures and subtle pressures to favor certain factions, to punish perceived opponents, or to tilt the transitional process in one direction. Any whiff of bias could fatally undermine his credibility. His actions and appointments must be guided by principle, not patronage.
Col. Oluwadare writes from the Nigerian Defence Academy, Kaduna
Political parties should comply with their own rules and regulations, argues CHUKS OKOCHA
SUPREMACY OF SUPREME COURT JUDGMENTS
Nigeria is a country of laws. And Samuel Adams, one of the founding fathers of America noted that the rule of laws means “There shall be one rule of justice for rich and poor, for the favourite in court, and the countryman at the plough.” The Nigerian Supreme Court recently ruled on some political issues which raised some furore. But as a country of laws every court judgment is expected to be obeyed, not selectively, but whole and entire. irrespective of status as stated in the 1999 Constitution (as amended.)
It is an understatement that two recent Supreme Court rulings on the Peoples Democratic Party (PDP) and Labour Party (LP) over their national leadership have been subjected to various interpretations in media spaces and elsewhere, of what it means for a matter to be under the “Internal affairs of the Party”.
It is believed by some observers that the misinterpretations of the content and context of the judgments seem to be guided by selfish political interests given that some interpreters are lawyers and leaders of repute who should know better.
Some of these parties’ members are making a sing and dance of the verdict as if the Supreme Court has just made a new rule or law for political parties to govern themselves.
Records show that on the contrary, the supreme court as the ultimate interpreter of the Constitution and upholder of the rule of law has been consistent with this position; which is aimed at strengthening parties’ Constitution and other extant laws like their electoral guidelines, to ensure party supremacy and stability in the running of their internal affairs.
In other words, to strengthen party institution and deepen democracy, handling matters based on the “internal party affairs”of a party is to allow an enabling environment for the rights of political party and its members to thrive based on the provisions of rules and regulations which are binding on both sides. Furthermore, the Court allows this position to ensure that internal or intra-party democracy is practiced, preserved and maintained.
For the avoidance of doubt, the supreme court verdict on a matter being “under the Internal Affairs of the Party” does not mean leaders of political parties making impromptu decisions or carrying out actions on their whims or imaginations but simply to comply with the rules and regulations that govern them to guide expected outcome of such matter.
To further emphasize, the supreme court position on an issue under the internal affairs of a party envisages that the Party is at peace and has a lasting or enduring constitutional provisions and electoral guidelines in the nominations and emergence of its national leaders. However, the Courts sounded a note of warning that when a party contravenes its own rules and in disarray, the court as an arbiter must step in.
It is therefore trite in law that internal or intra-party matters are entirely within the party’s internal affairs, “exclusively and completely outside the province or competence of courts or Tribunals.” (See JANG v. INEC (2004) 12 NWLR Pt. 886) 46). For emphasis, it is to allow or ensure that han-
dling of “internal party affairs” prevails. There is a powerful argument that expounded this position in the case of AGI v. PDP & ORS (2016) LPELR - SC. 256/2016, where the supreme court held that: “… a party is supreme over its own affairs …. A party is like a club. A voluntary association. It has its own rules, regulations, guidelines and constitution. Members join the party on their own free will. By joining, they have freely given their consent to be bound by the rules, regulations, guidelines and Constitution of the Party.
These rules of the Party must be obeyed by all members of the Party, as the Party’s decision is final over its own affairs. Members of a party would do well to understand and appreciate the the finality of a party’s decision over its domestic or internal affairs. The Court would only interfere where the Party has violated its own rules….” (See OLADIMEJI SAMSON OLALEKUN v. PDP & ORS (2021) TELR - 108767 (CA) and DAHIRU & ANOR v. APC & ORS (2016) TELR - 3359 (SC).
In view of the submissions above, it is very evident that the recent supreme court judgments on the PDP and LP are not ‘ambiguous’ or confusing; and under the 1999 Nigerian Constitution (as amended), the apex court has both original and appellate jurisdiction, with exclusive authority to hear appeals from lower courts and settle disputes brought before it and decisions rendered by it are binding on all parties.
INEC is also bound as the umpire by these judgments because one of the constitutional requirements of a registered political party is to register a party’s constitution and rules with the electoral commission. (See Section 223 of the Nigerian Constitution 1999 (as amended).
Finally, let these Parties’ leaders trade with caution and comply with its own rules and regulations to avoid punishment against contempt of court which may be by imposing fines or imprisonment or both.
Okocha is a staff of THISDAY newspaper
JOSHUA J. OMOJUWA argues that earning one dollar a day is a state of poverty anywhere in the world
THE RIGHT AND WRONG OF
ONE DOLLAR MEALS
Politics, whilst different from quantum physics, shares some similarities. The difference between them couldn’t be clearer; most things in politics are subjective, when in quantum physics, if it is not subject to measurement, it cannot even be a thing. They both befuddle the mind, but in different ways. With quantum physics, when you ask, “how is this even possible?” It is because some phenomena have just stretched your mind yet another limit. Quantum physics leaves even the greatest of physicists dazed. When such a question is asked on a political matter, it is because someone has done some unfortunate thing you never imagined a human being, let alone a leader, capable. I find their intersections worthy of note. Looking at both from a distant, they should never meet. Like everything else we know, there are always intersections, you just need to find them.
A scientific phenomenon that’d fit right well into politics is the famed Schrödinger’s Cat. In simple terms, the cat exists as the combination of two waves. In one form, the cat is alive, in the other, it is dead. The cat is both dead and alive. You cannot find out the state of the cat until you observe it. In essence, the state of the cat is determined by the conscious action of observation. This fits into my understanding of what $1 can do in the United States versus what it can do in Nigeria. Dr Tope Fasua, a brilliant economist, former presidential candidate of the ANRP and now special adviser to the president on economic affairs, recently opened this box.
You can look at this in two ways. There is the objective path and the subjective one. They end up with different answers, but they are both right. Tope Fasua is both right and wrong, it just depends on how you look at it. In saying he is both right and wrong, one could easily assume that that’d depend on whether one is pro or anti-government. Whilst that is true, it is not the point. Were that to be the point, it’d fit in with virtually every burning topic these days where logic is out the door, common sense is dead, balance is a crime and only the thick and tainted glasses of partisan politics is around for us to see the country with. The tragedy here is that, through that lens, it is impossible to see even the simplest of things the same way.
We cannot all fall into that trap. That is why, irrespective of our biases, and I have mine in droves, we must acknowledge them whilst doing our best to see things with a sense of balance and logic.
I will start with where Tope Fasua is wrong. The best stories are better told through personal experience. The two viral videos I watched of Fasua speaking on the purchasing power of the naira in Nigeria versus the dollar in the U.S., he mentioned that there are people that sell boli and fish for N1500 in Gwarinpa in Abuja, which is about $1, but he never mentioned that he spends that sum to feed himself per day. He later doubled down later by making a Lagos variation of the same position. No one, let alone a senior government official, should look to defend a position that appears to make it look like it is okay for people to live on $1/ day just because the purchasing power of its Nigerian equivalent is higher.
That you can buy a complete meal with $1 in Nigeria is true. Dr Fasua is right on this. I’d go a step further by saying, the sum you’d pay for a buffet at the Hilton in Abuja will most likely not afford you same in a Hilton in New York or say even Montana. I find it shocking
that people cannot hold two truths in their heads. In this case, that yes, you can buy a meal with a converted $1 in Nigeria and that no, that is not an excuse for anyone to pretend that earning less than $1/day isn’t a state of poverty anywhere in the world. It is.
I agree with the government’s positions preferring the markets to largely determine the prices of petrol and the value of the naira. I think that prices, in a free market, always come to reflect the true position and value of things. And that the Nigerian government deciding to control these things over the decades has come to a huge cost to the government and the people. These reforms were necessary, and they were indeed urgent. They needed to be done. That said, we cannot insist on denying the impact of their immediate outcomes even when we advance their long-term benefits.
People bear the pains now, so if you are going to let them know the pain is worth it, the least you can do is first be seen to accept their current state is unacceptable for the government. To do that, you must let them feel seen. A government official implying that $1 can buy me a meal, so things aren’t that bad, is in my opinion taunting me, even though I know that wasn’t the intention of Tope Fasua here. Now, because of some politicians’ desperation, we are permanently in election mode. That comes with a lot of tension and misunderstanding. It leaves people like Fasua with a tough job of portraying the government’s position. They are left defending the government when they should instead be advancing its position. That is where the opposition wants you, defending the government. That is a position you leave for those who agree and support the government’s reforms. For a senior adviser, your job is to let the citizen, irrespective of who they voted for, feel seen, offer a picture of the future the people are paying for and make them understand each policy like they do their ABCs. It’s hard, but quantum physics is harder, yet people flew to the moon in 1969.
Omojuwa is chief strategist, Alpha Reach/BGX Publishing
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
ACCOUNTABILITY AND THE LOCAL GOVERNMENTS
Local governments must be primed to work for the people An effective local government system, where the chairmen and councillors are prepared to work and where they are not
AY
EDITOR SHAKA MOMODU
DEPUTY EDITOR WALE OLALEYE
MANAGING DIRECTOR ENIOLA BELLO
DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU
CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI
EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE T
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU
DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE
Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.
LETTERS
RIVERS CRISIS: WHO IS DRUMMING FOR IBOK-ETE IBAS?
When President Tinubu called the elders of Rivers State for a meeting on 11th March, 2025 and charged them to go back to the state and work to restore peace, he stealthily pulled the rug from under their feet with his declaration of the state of emergency barely a week after, leaving them with no time to carry out his mandate. This subterfuge indicated a mad rush to get something untoward done amidst all odds, as the days unfolded. Little wonder that Vice Admiral Ibok-Ete Ibas (rtd), the Sole Administrator appointed, unlike a placeholder, is in a hurry too, to systematically undo every and any semblance of democratic structure in the administrative arrangement in the State. Starting from the mundane and the ordinary, Ibas removed the photographs of the elected governor Sim Fubara
a red alert on a possibly anti-democratic mindset the sole administrator was coming in with, probably engineered by his paymasters, advertently. The next was
the overly audacious dissolution of the board of existing statutory institutions such as the State Independent Electoral Commission, Councils of Traditional Rulers and governing Councils of tertiary institutions, etc. The unkindest of them all is the bold and unilateral appointments of administrative coordinators for the 23 local government Areas in Rivers State by the sole administrator. I am not an expert in Law or constitutionalism, but every lover of true democracy can easily recognize an anti-democratic infraction when he sees one.
Who is drumming for Ibas? Are these bold steps taken so far captured by the 19th March, 2025 Gazette that appointed him as the sole administrator or are these sweeping powers contained in the extracts of the National Assembly Proceedings of 20th March, 2025 that validate his appointment? Thank God that a civil society organization who is in pain and disconcerted, has dragged the sole administrator before Justice Mohammed Adamu of the Federal High Court,
Port Harcourt, who has granted an interim order following his ex-parte application, restraining the Ibas from appointing LGA Coordinators, or similarly titled suspended Rivers House of Assembly members in the far away United Kingdom, which went viral, and the recent visit to the Garden City by the "enfant terrible" himself just before the announcement of the LGA Coordinators by Vice Admiral Ibok-Ete Ibas, is another high point in the this playbook of crisis. Democracy is being trampled upon in Rivers. But those who are unperturbed and watching from the sidelines, thinking that suspended Governor Sim Fubara is the only ultimate victims. Let the people cry out loud. Let Ibas be barred from his over the bar actions by the people's collective resolve to say no!
Austen Akhagbeme, Abuja
High Airfares, Scheduled Flights Delays Trigger Concern for Business Class Passengers
Chinedu Eze
The Managing Director and CEO of Aero Contractors, Ado Sanusi, has confirmed that many business class passengers that patronise schedule commercial airlines are becoming worried about the high airfares and delays in flight, which have compelled them to go for private jet services in order to cut cost and to avoid further delays and cancellations from scheduled flights.
Sanusi who was head of the Ministerial Task Force Committee on illegal private charter operations and related matters, which recently submitted its report, told THISDAY in exclusive interview that passengers
who hitherto fly business class have chosen to travel by charter services, especially when more than one person is travelling because business class tickets are high and schedule flights are not reliable, as flights can delay and be cancelled at any time.
Sanusi told THISDAY, “We have seen an increase in the use of private jets recently because many people if they can afford to add a few millions of naira on top rather than going on a business class they probably will chose to use private jet charter services because the reliability of schedule commercial flights is not certain. And they feel that the airlines are cancelling a lot of flights and all that. So, that actually contributed to
the lower number of people who travelled by commercial flights last year.”
Sanusi also admitted that all Nigerian airlines record high number of flight delays and cancellations and explained that airlines scheduling contribute to these delays and also the airport infrastructure and weather.
According to him, flight delays and cancellations in Nigeria have become systemic and to significantly curb flight delays, there should be overhaul of airport infrastructure and the airlines must review their operation standards.
“You cannot be more efficient than the system you operate in. If I am overtaxed, if I am overregulated,
if I am restricted by infrastructure because of landing at night, or I cannot land at night, what else can I do? I am left with very, very few things to do to innovate or to organically stimulate the growth or bring the passengers in. Yes, we can debate it, that the airlines must do something to grow the passenger, but you can’t be more efficient than the environment you are operating in. And if there are already limiting factors in that environment, there are very few things that you can do to innovate out of it,” he said.
Sanusi also identified other factors that caused flight delays and pointed out that the airlines, the airports and weather, contribute to this
intractable problem.
“When you talk about flight delays, there are couple of factors that can cause flight delays. Mostly, airlines unable to match their capacity can cause flight delays; let’s say I have three aircraft, I will maximise the capacity of those three aircraft and I have an AOG (aircraft on ground), that will definitely translate into a reduction of close to 60 per cent of my capacity, which means that flights will be cancelled or delayed. And we have already published a schedule. So, the baseline is about capacity. If Nigerian airlines have a lot of aircraft, definitely you will see less flight delays and cancellations. We are blessed with good weather,
not as in other parts of the world.
“We have good weather, yes definitely we have thunderstorms and dust haze that cause flight delays and cancellations. But not like in some countries where you have snow storms that cancel flights for a long period of time or tornadoes and the rest. So, we do have thunderstorms and the rest. Yes, weather contributes to flight delays and cancellations, AOG and then your own particular airline’s integrity of operations. The way you schedule your aircraft, you must have to create a buffer,” he further said.
Akutah: Assent to NPERA Bill Will Streamline Regulatory Issues in Maritime Industry
The Executive Secretary and the Chief Executive Officer of the Nigerian Shippers Council (NSC) Dr. Pius Akutah has said that the imminent Presidential assent to the recent passage of the Nigeria Port Economic Regulatory Agency (NPERA) bill by the National Assembly will streamline issues in the marine and blue economy industry.
The Nigerian Ports Economic Regulatory Agency (NPERA) is currently before President Bola Tinubu for assent having successfully scaled through the two legislative houses.
Akutah, disclosed this while speaking at the Council’s 2025 operational retreat for Middle Management Staff in Abeokuta.
According to him, “This retreat is coming at a time of transition from the Nigerian Shippers’ Council to the Nigerian Port Economic Regulatory Agency (NPERA). You are all aware of the progress we are making with the bill that has been passed by through the National Assembly, which is now before Mr. President for assent. NPERA is a reflection of the current administration’s concerted efforts to create a more structural and efficient port regulatory system in Nigeria.
“Essentially, the passage of that bill will establish a strong, independent regulatory regime with enforceable legal powers, unlike the current law. You know that in that law, there are some legal provisions that even have to do with criminal prosecutions.”
The NSC boss stressed that the
President is not only committed to dealing with regulatory issues in this sector, but also enhancing the blue economy in general.
Akutah asserted that the creation of the Ministry of Marine and Blue Economy and robust activities of the Ministry under the leadership of Adegboyega Oyetola underscores the importance of the sector to the nation’s development.
He equally reassured that the NSC would continue to work diligently for the industry by reducing arbitrary charges, enhanced stakeholders’ engagement, and enhancing robust dispute resolutions.
“You are all aware of the progress we are making in the bill that has been passed by the National Assembly, which is now before Mr. President for Asset. We are
preparing for the transition from the Nigerian Shippers Council to the Nigerian Port Economic Regulatory Agency (NPERA). The Nigerian Port Economic Regulatory Agency is a reflection of the current administration’s concerted efforts to create a more structural and efficient port regulatory system in Nigeria. And you know that our minister is also very focused and has been driving the ministry towards excellence. Just recently, we have just concluded our efforts on the national policy of marine and blue economy.
“And this agency, coming on board at this time, is to further strengthen our resolve and efforts towards regulating this sector to a more prosperous Nigeria. Essentially, the passage of that bill will establish
a strong, independent regulatory regime with enforceable legal powers, unlike the current law. You know that in that law, there are some legal provisions that even have to do with criminal prosecutions.
“On our part, in our current status, we have continued to work seriously for the industry by reducing arbitrary charges, enhanced stakeholders’ engagement, and robust dispute resolutions.
We have never stopped, even as we have transited. We are still working very hard. This transition, when fully operational, will be an evolutionary case study in Nigeria’s maritime and port regulatory framework,” he said.
Speaking, the President Chartered Institute of Logistics and Transport (CILT), Nigeria,
Mfon Usoro, said the assent of the bill, which is a certainty, means there is massive work for capacity development for the council. She however, stressed that when assented the regulatory body should seek to improve inter-port and intra-port competition in the industry.
According to her, “An economic regulator would have regulation in such a way that it promotes intraport and inter-port competition. The regulation must be aimed at creating markets and growing the markets, enabling healthy competition, and to remove barriers to market entry by new competitors.
Oluchi Chibuzor
IBEDC: Archlight Refutes Claims by 86 Gardens on Company’s
Archlight Nigeria Limited has denied what it described as misleading and unfounded claims recently made by 86 Gardens Limited in a court filing seeking to interfere with the legitimate ownership and transfer of shares in the Ibadan Electricity Distribution Company (IBEDC).
In a statement, the company’s management said contrary to the sensational narrative being pushed by 86 Gardens, “the facts remain clear, verifiable, and grounded in documented corporate processes and legal principles. Archlight Nigeria Limited emerged as the preferred bidder for the 60% equity in IBEDC offered by the Asset Management Corporation of Nigeria (AMCON) during a competitive bid in 2024.
“86 Gardens is the parent company of Africa Plus Partners Nigeria
Share Acquisition
Limited, one of the unsuccessful bidders in the AMCON-led process. Africa Plus Partners Nigeria Limited was designated as a reserved bidder after failing to meet the bid requirements that Archlight successfully fulfilled.
“Following the announcement of Archlight as the preferred bidder, 86 Gardens congratulated the company and made an unsolicited approach to become a co-investor in Archlight (and not in IBEDC). Some of Archlight shareholders negotiated a deal with 86G Limited, but the agreement-in-principle reached was kept in escrow pending the fulfillment of terms and conditions, especially the payment of agreed fees for share transfer by 86G Limited.”
The statement further stated that despite multiple deadline extensions,
86 Gardens never made the required financial commitment. Consequently, the co-investment proposal lapsed, and Archlight’s shareholders that negotiated with 86G lawfully disposed of their shares to other interested parties in August 2024 and exited the company.
“86G later insisted the Custodian of the unfulfilled agreement-inprinciple must list it as a shareholder of Archlight despite not making any financial commitment. This prompted the Custodian to convene a meeting of all the parties to explore the possibility of settling the matter.
Archlight noted at the meeting that though 86G had no legal claim due to its failure to make the agreed financial payment, it would still entertain a co-investment deal acceptable to all the shareholders.
Air Peace Introduces Streamlined Boarding Process
Stories by Chinedu Eze
Nigeria’s major carrier, Air Peace, has announced the implementation of a new boarding arrangement aimed at delivering an even more seamless, convenient, and professional travel experience for all passengers.
Under the new structure, boarding will now be prioritised in the following order: military personnel, passengers with wheelchairs or special needs, and business class passengers. This initiative reflects Air Peace’s ongoing commitment to elevating service standards and
fostering a new culture of care, respect, professionalism and efficiency.
Speaking on the initiative, Chairman/CEO, Air Peace, Dr. Allen Onyema, said: “At Air Peace, we understand that time and comfort matter deeply to our passengers. This new boarding policy is designed to reduce congestion, enhance orderliness, and ensure that our customers enjoy a smoother start to their journeys.” He explained that the new arrangement underscored Air Peace’s dedication to inclusive service. “By honouring military personnel and
attending to passengers with mobility needs first, Air Peace reinforces its respect for service and accessibility,” emphasising that Business class travelers will also benefit from expedited boarding, aligning with the premium experience they expect and deserve,” Onyema said.
The development is part of a broader transformation toward a refreshed service culture. Air Peace is committed to delivering excellence at every touchpoint, from check-in to landing, and this new boarding system is just one of many enhancements underway.
Onyema Donates N50m to DEPOWA College
Chairman and CEO of Air Peace, Dr. Allen Onyema, has donated N50 million to support the Defence and Police Officers’ Wives Association (DEPOWA) College project.
The pledge was made during the grand fundraising and ground-breaking ceremony held at the Armed Forces Officers Mess, Maitama, Abuja.
Onyema, who served as a colauncher of the project, delivered an inspiring address that emphasised the importance of unity, empowerment, and nation-building. He hailed the
DEPOWA College as a transformative initiative that goes beyond physical infrastructure, describing it as “a beacon of hope” and a strategic investment in the future of Nigeria’s children—particularly those from families of military and police personnel.
“This is not just about bricks and mortar. It is about shaping the minds of young Nigerians who will become leaders, innovators, and agents of positive change. As we lay the first stone of the DEPOWA College, we must understand that we are
building a brighter tomorrow—one that empowers our youth to create solutions, inspire others, and contribute meaningfully to our nation and the world,” Onyema said. He commended DEPOWA’s longstanding impact in supporting service members’ families through education, skills development, and humanitarian programs, adding that the college will be equipped with modern classrooms, vocational centers, science labs, and creative workshops to prepare students for 21st-century challenges.
ICPC Affirms NCAA’s Total Compliance with Standards
The Nigeria Civil Aviation Authority (NCAA) has received commendations from the Independent Corrupt Practices & Other Related Offences Commission (ICPC) for it total compliance with the ICPC’s standing order in the operations of AntiCorruption and Transparency Units (ACTUs) in Ministries, Departments & Agencies (MDAs). Director, System Study and Review Department (SSRD) at ICPC, Mr. Olusegun Adigun, described NCAA’s compliance with the agency’s standard as
one that should be emulated by all government agencies.
Mr. Adigun spoke during the induction ceremony for members of the NCAA ACTUs team in Abuja recently.
The 12-man ACTU team (otherwise known as NCAA ambassadors), an in-house mechanism for the prevention of corruption, was inaugurated last December by the ICPC Director. Speaking at the ceremony, Director General of NCAA, Captain Chris
Najomo, described the ICPC’s testimony as a significant milestone in the agency’s corporate governance processes and financial procedures in its drive to meet with international standards.
Najomo said: “We are delighted to receive this report of complete compliance with the ICPC standing order. It shows the NCAA is on the right track to meeting its set objectives of aligning the operations of the agency to meet with the best financial operating standards globally.
SAHCO Wins Air Algiers Ground Handling Contract
AIR WATCH
SITA Plans Fresh Return to Nigeria After Four Years
Chinedu Eze
IT provider for the air transport industry, Societe International Telecommunication Aeronautiques, (SITA), has expressed willingness to return to Nigeria four years after it ended a contractual relationship with the Federal Airports Authority of Nigeria (FAAN), which manages about 26 of Nigeria’s airports.
Before SITA left, it was offering seamless facilitation solutions (Common Use Terminal Equipment (CUTE) for the Murtala Muhammed International Airport, Lagos.
SITA delivers solutions for airlines, airports, aircraft, and governments. It co-innovates with customers to provide more seamless, safe, and sustainable air travel.
SITA President for Africa and Middle East, Mr. Selim Bouri, who confirmed the company’s fresh plan to return to Nigeria, told THISDAY that the company would be happy to resume business in Nigeria. He described SITA as a very special company within the aviation industry, adding that SITA looks forward to returning to Nigeria.
“We will be more than happy to come back to Nigeria and work with the authority if they want us to do so. You know, our ambition is to make sure that the travel remains smooth and efficient and safe, especially for Africa. I was born in Algeria, so I am African, and Africa for me, is key. Aviation is not a luxury for us. Aviation is a necessity and this can work only if we put the right technology behind it because the technology will do and will compensate sometimes what you cannot do with a lot of amount of money because there are problems of financing.
“So, the best way, the smarter way to move forward is to take what you have in terms of infrastructure and try to make it better. The best way to do it is by providing the right technology. We are not talking about the technology that is not something that is not for Africa. It is actually for Africa. It is a very advanced technology, but we have the right financing approach to make sure everyone can use it and scale it up. As I said before, we are not a private company. We are a special company. We serve the industry. So, the more people can travel, the more we are happy,” Bouri said.
According to him, SITA is everywhere in Africa. It has its presence in every country that has a large international airport or a large international airline, disclosing that SITA has three sets of solutions.
“We have the airport solutions where we serve more than 1,500 airports around the world. When we are talking, we are talking about touching points, we are talking about check-in solutions, we are talking about passenger processing solutions, we are talking about airport optimisation solutions, we are talking about all the IT that you don’t see behind the scenes to make sure everything runs smoothly. The biggest airport where we are in Africa is probably in South Africa.
“We work also in Angola, we work in Egypt, in Morocco, in Algeria, in Tanzania, in Ethiopia, I believe 38 countries and more. It is the datacom, the messaging, the VHF networks that we have our own networks,” Bouri further said.
be trusted by all the authority, obviously, we need to provide the right level of security and our job is to provide the right level of cyber security and the right level of IT protection so that the authority can trust the tool and use them, especially for biometrics and passenger processing so that the overall system can be easier.
“In Africa, more than 75 per cent of the job is about passenger processing. It is about managing the saturation of the airport, and it is also about managing the borders, the visa, and the controls. You know one of the biggest issues we have in Africa, many airlines serve Africa and it is not only the airlines also, the passengers.
“It is about using biometrics, e-visa and electronic travel authorisations. All of these technologies are provided by SITA, and we are really number one when we get to that. We are serving more than 70 countries, 68 or 70 countries now, yet in Africa this is activated in the whole continent,” he explained. Bouri reiterated that if FAAN became interested in SITA’s return, it would be willing to do so because the company remains the biggest service provider globally. SITA works with the biggest airports in the world.
“We work with Dubai airport. We work with the airport in Qatar, we are one of the biggest players in all the Saudi airports, in Abu Dhabi airport, in many airports around the world. We have the technology and we have the experience and we have been present in Africa since the beginning to provide the right solutions with the right economical concept and not only at the airport because when we look at the airport, we need to look at the three segments of the airport.
“We are talking about the passengers in the airport itself. We are talking about the airlines that will be using the airport and we are talking about the borders that are in the airport here. We are the only player in the market that can serve the three and make them all integrated together. And this is something we want to bring to Africa and we will be happy to bring it to Nigeria,” he further said.
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor Emma Okonji
Asst. Editor, Energy
Emmanuel Addeh
Asst. Editor, Money Market
Nume Ekeghe
Correspondents
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James Emejo (Finance)
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Skyway Aviation Handling Company (SAHCO) Plc, a leading Ground Handling service provider in Nigeria, has announced its new partnership with Air Algeria.
The company has been awarded a comprehensive Ground Handling contract to Provide Ground Handling Services to Air Algeria’s flights from Abuja to Algiers twice in a week.
The full handling contract encompasses a wide range of services, underscoring SAHCO’s commitment to excellence in aviation support. Under the new agreement, SAHCO will provide an array of ground handling services for Air Algeria, including ramp handling, passenger services, baggage handling, cargo handling, aircraft cleaning, and more.
SAHCO’s experienced team and state-of-the-art equipment are fully
equipped to meet the unique needs of Air Algeria’s operations, ensuring seamless and efficient turnarounds at the Nnamdi Azikiwe International Airport in Abuja.
“We are thrilled to partner with Air Algeria on this important venture,” Managing Director/ CEO of SAHCO, Mrs. Adenike Aboderin, said.
“This contract win reflects the trust and confidence that Air Algeria has in our capabilities. We are committed to delivering the highest quality of service to support their operations, ensuring safe, timely, and efficient ground handling for their flights.”, she added.
SAHCO has a proven track record of providing top-tier ground handling services to major airlines operating in Nigeria. The company is known for its dedication to safety, efficiency, and customer satisfaction.
SITA is owned by airlines, so, the organisation was created by the airlines and owned by the airlines. SITA is unique in the fact that it is not a private company; it is owned by the aviation industry and it is the only company in the world that is like that and it is also the only company in the world that is actually serving the three segments which is the airport, the airlines and the government for the border solutions, he added.
Bouri also explained that its systems have security provisions that are technology driven and part of its services even in Africa incorporates security provisions, noting that there are different aspects of technology driven security system, which includes cybersecurity and physical security.
“The physical security obviously is linked to the infrastructure. Such is not peculiar to Africa; it is global but we see this a lot in Africa, obviously. If the infrastructure of the airport itself is not managed in the right way, that will provide a security challenge. Now, cyber security is not the biggest challenge in Africa as per our survey. It is the second. The first one is, again, passenger processing. But for that passenger processing to
Recently, SITA acquired CCM, a world-renowned expert and leader in the design, production and creation of airport interiors. Speaking on the acquisition, Bouri said: “Today, when we have a saturation of airports, the only way of making them better is to do technology and to put in the technology. Now there is even a smarter way. If you go back and you know that we are going to improve the existing infrastructure with technology, but we know that at a certain moment we will need to build new infrastructure. And the best way, sometimes, I mean, the old way of doing it is you build an infrastructure, you start with the civil work, the design of the infrastructure, and at the second stage you come with the technology. From the moment you design the airport, from an infrastructure and physical point of view, you take into account the technology. This is the reason we acquired CCM.”
He explained that CCM remained involved in the design stage of the airport before the deployment of technology and that by acquiring CCM, SITA could extend its services to include design, like designing the check-in counters, the lounges and that while looking at the architectural design, SITA would also add technological design, adding that SITA has been operating for 75 years.
Removing Import Duties on Solar Raw Materials: Critical Step for Nigeria’s Energy, Industrial Future
Oluchi Chibuzor posits that the removal of import duties on solar panel raw materials would send a clear signal that the federal government is committed to industrial growth and sustainable development
In a world increasingly turning to renewable energy, solar power stands out as one of the most promising and accessible solutions—especially for energy rich nations like Nigeria. However, despite the country’s immense solar potential and growing demand for energy alternatives, the local solar manufacturing industry remains stunted. At the heart of the problem lies a glaring policy contradiction: while fully assembled solar panels are imported into Nigeria duty-free, with the exemption of photovoltaic cells, other essential raw materials required to produce these panels locally are slapped with significant import duties.
This paradox has created a serious market disadvantage for local manufacturers, slowed progress toward energy independence, and undermined the federal government’s industrialization ambitions. If Nigeria is serious about embracing a greener future, unlocking economic growth through industrialization, and creating meaningful jobs, the time has come to eliminate import duties on all raw materials for solar panel manufacturing.
THE UNFAIR MARKET
DISADVANTAGE
Local solar panel manufacturers in Nigeria currently face a daunting challenge. While photovoltaic (PV) cells are rightly exempt from import duties, manufacturers must still pay import duties on a wide range of other essential raw materials, including but not limited to: Tempered PV Glass, Backsheet Film, EVA Fast Cure, Ribbon, Frame Kit, Junction Box, Frame Silicone, JBox Silicone, Potting Silicone, Flux, Backlabel and Wax Toner/Module.
In contrast, fully assembled solar panels can be imported duty-free, allowing foreign competitors to bypass the cost barriers that local manufacturers must absorb. This undermines Nigeria’s ability to build a strong domestic solar manufacturing base, limits job creation, technology transfer, and long-term energy security.
What is needed is a comprehensive duty exemption policy covering all solar panel components, not just selected items like the Photovoltaic cells. This will level the playing field, reduce production costs, and support the growth of Nigeria’s renewable energy sector.
“It’s like running a race with your shoelaces tied,” said one Adeniyi Ojo, Lagos-based solar panel retailer. “We are expected to build a competitive product,
yet the policy environment stacks the odds against us from the start.”
Local manufacturers like LPV Technologies, which operate Nigeria’s largest solar panel manufacturing line, are directly impacted by this policy inconsistency.
This imbalance discourages local investment and hampers the growth of a viable solar panel manufacturing industry. It also means that Nigerian manufacturers cannot take full advantage of the rapidly expanding demand for solar energy across homes, businesses, and rural communities.
BARRIER TO LOCALISATION, INDUSTRIAL GROWTH
Nigeria’s industrial policy has long emphasized the importance of backward integration—where local production replaces imports through the development of domestic capacity. But how can backward integration succeed when the cost of inputs is artificially inflated by counterproductive duty regimes?
The removal of import duties on solar panel raw materials would send a clear signal that the government is committed to industrial growth and sustainable development. It would align energy and industrial policies and make the local solar manufacturing sector more attractive to investors. This shift is especially crucial as Nigeria works toward its renewable energy goals under the Sustainable Energy for All (SE4ALL) initiative and National Renewable Energy and Energy Efficiency Policy (NREEEP).
Local content development should be more than just rhetoric—it must be backed by practical, enabling policies that reduce barriers to entry for indigenous producers and entrepreneurs.
MAKING SOLAR PANEL AFFORDABLE FOR ALL
The downstream effects of these duties are felt most by the Nigerian consumer. Import duties on most raw materials inflate the final cost of locally manufactured solar panels. As a result, Nigerian households and businesses end up paying more for a clean energy solution that should ideally be both accessible and affordable.
This pricing disparity limits the adoption of solar technologies in a country that desperately
“There is also the need to streamline customs processes and reduce bureaucracy to make importing inputs more efficient and transparent and provide access to affordable financing for solar entrepreneurs and manufacturers through development banks and green funds. Lastly, it is important to promote local content and capacity development through partnerships with technical institutions and global manufacturers. These reforms are not just about solar panel manufacturing - they are about building a resilient, energy-secure, and economically vibrant Nigeria. They are about matching words with action and vision with execution.”
needs to diversify its energy mix. With over 85 million Nigerians lacking access to electricity, solar power represents a life-changing solution. But without policy reform, it would remain out of reach for many.
Companies such as LPV Technologies strive to provide cost-effective solar solutions but are limited by the inflated cost of importing most of these raw materials.
By removing import duties on raw materials, the production costs for local manufacturers would drop significantly. These savings could then be passed on to consumers, making solar energy systems more competitively priced and promoting wider adoption—especially in underserved rural areas where grid electricity is still a challenge.
JOB CREATION IMPACT AND SKILL DEVELOPMENT
The benefits of policy reform extend beyond economics—they impact people’s lives directly through job creation and capacity building. A thriving solar panel manufacturing sector has the potential to generate thousands of jobs, not only in production but also in installation, distribution, maintenance, and after-sales support.
When production becomes more viable, companies can scale, open more plants, and invest in workforce development. Technical training and skill acquisition in renewable energy technologies can become mainstream, providing young Nigerians with pathways to employment in one of the most promising global sectors.
LPV Technologies, which employs Nigerian technicians and engineers at its Lagos-based facility, is poised to expand its operations and workforce if input costs are reduced.
Yet, current policies act as a constraint on this potential. As one solar panel entrepreneur aptly noted, “We cannot have policies that protect local industries with one hand while tying their hands with the other. If raw materials remain expensive due to duties, we cannot grow—let alone employ more people.”
Nigeria’s demographic realities demand urgent action. With a median age of just 18 years and millions entering the labour market annually, job creation is a national imperative. Renewable energy—and solar in particular—offers a scalable solution, if the policy environment allows it to thrive.
THE CASE FOR IMMEDIATE REFORM
To unleash the full potential of Nigeria’s solar panel manufacturing sector, the federal government must take decisive action. The following measures should be prioritized; extend import duty waivers to all raw materials and components used in solar panel production as well as establish a clear and supportive industrial policy for renewable energy, with targeted incentives for local manufacturers.
For instance, indigenous solar panel manufacturers like LPV Technologies could double its production capacity and reach underserved markets if import duties on all raw materials for solar panel manufacturing are removed.
There is also the need to streamline customs processes and reduce bureaucracy to make importing inputs more efficient and transparent and provide access to affordable financing for
“The removal of import duties on solar panel raw materials would send a clear signal that the government is committed to industrial growth and sustainable development. It would align energy and industrial policies and make the local solar manufacturing sector more attractive to investors. This shift is especially crucial as Nigeria works toward its renewable energy goals under the Sustainable Energy for All (SE4ALL) initiative and National Renewable Energy and Energy Efficiency Policy (NREEEP).”
solar entrepreneurs and manufacturers through development banks and green funds.
Lastly, it is important to promote local content and capacity development through partnerships with technical institutions and global manufacturers. These reforms are not just about solar panel manufacturing - they are about building a resilient, energy-secure, and economically vibrant Nigeria. They are about matching words with action and vision with execution.
BRIGHT FUTURE AND THE RIGHT POLICY CHOICES
Nigeria stands at a critical juncture. The global shift toward clean energy is irreversible, and nations that adapt early will reap the benefits of innovation, industrial growth, and energy resilience. By removing import duties on all raw materials for solar panel production, Nigeria can take a bold step toward this future.
The removal of these duties is not a handout to local manufacturers - it is a strategic correction that aligns policy with national interest. It is a move that will boost competitiveness, attract investment, empower consumers, and unlock green jobs for millions of Nigerians. In the end, it is simple: If we want to build a thriving solar panel manufacturing industry, we must stop holding back those working to make it happen.
APM Terminals Reaffirms $500m Investment Commitment During Visit to Oyetola
APM Terminals has reiterated it’s commitment to invest $500 million in expanding its areas of operations in Nigeria.
The company stated this when a high-level delegation, led by its Chief Financial Officer, Mr. Peter Wikstrom, visited the Minister of Marine and Blue Economy, Adegboyega Oyetola in Abuja.
Speaking Oyetola welcomed the commitment by APM Terminals, describing the company as a model for terminal operations in the country.
“We are pleased with the quality of infrastructure that APM Terminals has delivered at the Lagos Port Complex, Apapa. The standard you have set should be the minimum benchmark for other terminal operators across the country,” Oyetola said. “This fresh $500 million investment must align with our broader agenda to modernize the Western ports and enhance port competitiveness. The Eastern ports will also not be
left behind — we are determined to ensure a holistic upgrade of all Nigerian ports.”
Oyetola emphasised the federal government’s drive to deepen draft levels at the Lagos ports to a minimum of 16 metres, which will allow for the berthing of larger vessels, improve turnaround time, and reduce shipping costs.
He further disclosed that the government is actively pursuing full port modernization and automation, working in close collaboration with the Nigeria Customs Service (NCS) to deploy scanners and eliminate the heavy reliance on physical cargo examinations.
In his remarks, Mr. Peter Wikstrom expressed enthusiasm about the ongoing transformation in Nigeria’s maritime sector.
“This is my first visit to Nigeria, and I’m impressed by the scale of opportunity here,” he said. He said Nigeria, as Africa’s largest economy, is a strategic investment
destination for APM Terminals.
Wikstrom said APM Terminals has operated in Nigeria for over 20 years, and sees a promising future for the country.
He affirmed that the fresh investment will be channelled towards expanding terminal capacity, enhancing cargo handling efficiency, and supporting the Federal Government’s goal of attracting larger vessels to Nigerian ports.
Also speaking, CEO of APM Terminals Nigeria, Mr. Frederik Klinke, thanked the Honourable Minister for his commitment to reforms in the maritime sector. He expressed appreciation to the Honourable Minister for his leadership and the strong encouragement he has provided to investors.
He said the Minister’s efforts to remove procedural bottlenecks at the port are already yielding results, “and we are proud to be part of the journey to transform Nigerian ports.”
Gbeleyi: NISO Board Critical to Improvement of Electricity Delivery
Director-General, Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, has said the newly inaugurated Nigerian Independent System Operator (NISO) will play an important role towards delivering a reliable and sustainable electricity sector that Nigerians rightfully deserve by assuming responsibility for grid management, system stability, power dispatch, and market operations.
He stated this during the formal inauguration of the Board of the NISO Limited
by the Vice President, Kashim Shettima.
According to him, the NISO represents a pivotal landmark in Nigeria’s electricity industry reform journey.
The 11-member board, chaired by legal and financial expert Dr. Adesegun AkinOlugbade, is tasked with overseeing the operational and market independence of NISO, which will now manage critical aspects of Nigeria’s electricity supply chain, including grid stability, system
operations, power dispatch, and market coordination.
He also commended the Minister of Power for his “undeniable passion towards the transformation of the power sector.”
‘These efforts and the invaluable support of other critical stakeholders including the Federal Ministry of Power, MOFI, NERC, TCN, generation and distribution companies, and private sector partners, for this historic transition are highly appreciated,” he stated.
Sulaiman: Why We Eliminated Transfer Fees on Our Digital Platform
The Managing Director of Sterling Bank, Abubakar Sulaiman, has announced the elimination of bank transfer fees on the bank’s digital platform OneBank.
The move, he said, makes Sterling the first major Nigerian bank to forgo earning a cut from customer transactions on its own app.
Speaking at briefing to announce the fee elimination in Lagos recently, Suleiman said: “This is not a gimmick. This is the future. And it starts now. For years, Nigerians have paid fees just to move their own money. We’re saying no more.”
Suleiman explained that the decision stems from years of digital transformation. The bank built a custom callback
system capable of handling over five million customers, already processing more than 180 million transactions. It also migrated entirely from a legacy European core to a homegrown platform built for scale, and deployed a private cloud environment with capacity well beyond current and future demand.
“We’ve engineered a platform that can support 50 times our current customer base without breaking a sweat,” Suleiman added. “It’s time to pass the benefits of that transformation back to the people.
“The zero-transfer-fee policy applies exclusively to users of OneBank, Sterling’s flagship
digital app. New customers who sign up before April 30 will also receive a complimentary AfriGo debit card and lifetime access to fee-free transfers.
“This is more than a product update. It’s an economic statement,” Suleiman said. “We are taking sides with the customer, with the small business owner, with every Nigerian fired of being nickel-and-dimed by the system.”
Growth Executive Consumer and Business Banking Directorate, Obinna Ukachukwu, said the policy is both a reward for loyal customers and an invitation to new ones. “We owe this to the customers who stuck with us through our transformation journey,” Ukachukwu said.
Olam Partners Husk to Advance Sustainable Energy in Agricultural Sector
Olam Agri and Husk Power have announced a groundbreaking commercial and industrial (C&I) solar project in Nigeria’s rice-producing region.
This initiative, they said in a statement, will accelerate the transition of agriculture to sustainable energy infrastructure, significantly reducing reliance on expensive and polluting diesel generation.
Under the partnership, Husk will deploy a 1.3 MWp solar photovoltaic (PV) system, integrated with an 860 kWh battery energy storage system (BESS), at Olam Agri’s rice operations in Rukubi, Nasarawa State. This shift to solar power not only represents a significant step
in Olam Agri’s efforts to cut diesel consumption but also towards a more sustainable and cleaner energy future. Husk will supply power to Olam Agri under a 10-year power purchase agreement (PPA).
Speaking on behalf of Olam Agri in Nigeria, Country Head, Anil Nair, emphasised the company’s unwavering commitment to sustainability, “Sustainability is at the heart of Olam Agri’s operations, and this partnership with Husk Power is a significant step towards reducing our carbon footprint while ensuring a stable and cost-effective energy supply. By transitioning to solar power, we are improving the efficiency of
our rice production in Rukubi and contributing to Nigeria’s broader renewable energy goals. By implementing renewable energy solutions in Nigeria, Olam Agri is not just meeting its own needs but inspiring others to follow suit and help drive sustainability in the agricultural sector across Africa and beyond.” Husk’s Country Director, Olu Aruike, highlighted Husk’s leadership in the sector, “Besides being the market leader in Nigeria’s community solar mini-grid industry, Husk is committed to partnering with commercial & industrial (C&I) businesses to decarbonize key sectors of Nigeria’s economy, including agriculture.”
(Gabon), Iran Heavy
(Iraq),
Export (Kuwait), Es Sider (Libya), Bonny
(Nigeria), Arab
(Saudi Arabia), Murban (UAE) and Merey (Venezuela).
R-L: Minister of Marine and Blue Economy, Adegboyega Oyetola; Chief Financial Officer (CFO) of APM Terminals, Mr. Peter Wikstrom and President, Africa/Europe region of APM Terminals, Mr.
Igor Van den Essen, when a high-level delegation from APM Terminals visited the minister in his office in Abuja...recentyly
UACN: Our Dividend Strategy Aligns with Long-term Value Creation
Kayode Tokede
The management of UAC of Nigeria Plc has expressed that dividend payout policy is strategically aligned with its long-term value creation for shareholders, amid posting an impressive 2024 financial year performance.
The company declared a revenue of N197 billion in 2024, about 63.4per cent increase over N120.53 billion declared in 2023, while profit before tax
surged to N26 billion in 2024, representing an increase of by 107 per cent from N12.34 billion in 2023, to underline a clear sign of operational strength and strategic discipline.
Adjusting for one-off gains in 2024, operating profit increased ninefold to N19 billion in 2024 as such strong performance raises investor expectations for higher cash returns.
Amid impressive performance, the management of UAC of Nigeria proposed a dividend
PRICES FOR
of 22 kobo per share - unchanged from previous years.
The Group Managing Director, UAC of Nigeria, Fola Aiyesimoju on the dividend payout stated that the move reflects a deliberate effort to balance immediate shareholder rewards with long-term growth opportunities.
“The decision to recommend 22 kobo was not made lightly.
“The management, like our shareholders, is invested in the long-term success of
the company. Our incentive structure is directly tied to shareholder returns, which means we make decisions that protect value — even if those decisions may be unpopular in the short term,”Aiyesimoju said.
The company explained that it is not holding back because it lacks confidence in the future, stressing that it sees significant investment opportunities ahead that require upfront capital.
According to the company, preserving cash today is a
move to unlock greater value tomorrow. “This thinking is grounded in Nigeria’s current economic climate. In the face of inflation, currency volatility, and unpredictable consumer demand, financial flexibility is a competitive advantage.
“Rather than overextend or appease short-term sentiment, UACN is choosing to preserve optionality - the ability to act decisively when opportunity knocks,” the management explained.
It explained further that the numbers support this approach, stating that a margin improvements across key segments reveal disciplined execution and a clear growth path:packaged Food & Beverages: 102per cent growth across categories including snacks, dairy, and spring water and animal Feeds & Edibles: 54per cent top-line increase and paints: 52pe cent revenue growth, aided by strategic pricing to offset rising input costs.
TRADED ASOF APRIL/10/25
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 09 April-2025, unless otherwise stated.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS
Assessing FMBN’s New Leadership, One Year After
It’s been one year since the Federal Mortgage Bank of Nigeria (FMBN) welcomed a new leadership, headed by Shehu Osidi, marking a positive and significant shift in the organisation’s trajectory. As the bank navigates the complexities of Nigeria’s housing finance landscape, Emmanuel Addeh tracks its progress in the last one year.
When Shehu Osidi took the helm of the FMBN as Managing Director and Chief Executive in February, 2024, he was aware that he stepped into a role critical to tackling Nigeria’s persistent housing challenges.
Appointed by President Bola Tinubu at the time, Osidi arrived with extensive experience in banking and mortgage finance, tasked with leading an institution that had long been central to the nation’s housing ambitions, but faced mounting pressures to deliver.
A year after, even the incurable pessimist will admit that the first 365 days have unfolded as a period of critical shifts, where reforms have taken shape, financial strategies have evolved, and efforts to expand access to homeownership have gained traction.
Without doubt, the bank has focused on delivering key housing projects, improving access to mortgage financing, expanding the National Housing Fund (NHF) scheme and driving digital transformation to enhance service delivery. The bank appears to have refocused, reinventing the way things are done, whether internally or in its interactions with its various stakeholders.
Raising the Bottom Line
The overarching objective of the FMBN is the provision of Mortgage loans to Nigerians to buy or build houses. Over the past year, the bank seems to have lived up to this expectation. Within the period, the bank recorded an operational surplus of N11.58 billion based on the Management Accounts for 2024. It is the first such experience since FMBN came into existence over 30 years ago.
Although this figure is expected to come down significantly when impairment is applied, the bank has set out to tackle all aspects of its operations that lead to high impairments, especially the high non-performing loans inherited by the current management, and pursuing with great efforts the recapitalisation of the bank.
With a grossly inadequate capital of N2.5 billion, which has hindered the capacity of the bank to perform optimally, one of the plans is to have this capital raised to N500 billion in the nearest future.
“In order to enhance service delivery and mortgage accessibility, the current executive management has focused on improving operational efficiency and this has resulted in significant improvements in our performance parameters.
“Under the National Housing Fund (NHF) operations, our collections grew by N3 billion in 2024 resulting in a total collection of N103 billion, compared to the N100 billion the bank recorded in 2023. This increase in NHF contributions demonstrates renewed trust and participation in the NHF scheme by Nigerian workers,” Osidi said, recently in an event to mark his one year in office.
New Products
In recent times, FMBN has introduced a number of products, including: the Diaspora Mortgage Loan, Rent Assistance Loan and the Non-Interest Loan.
The Diaspora Mortgage Loan, which is a strategic collaborative initiative between FMBN and the Nigerians in Diaspora Commission (NiDCOM), is expected to open up opportunities for Nigerians living abroad to invest in real estate back home in Nigeria.
“There are ongoing engagements between the Bank, NiDCOM and the Central Bank of Nigeria (CBN) aimed at ensuring seamless transaction processes. International Money Transfer Operators (IMTOs) are also being engaged to facilitate smooth transactions, with plans for a full rollout of the product expected in Q1 2025.
“The NHF Diaspora Mortgage Loan Scheme is expected to further expand the scope of mortgage accessibility, driving down the housing deficit facing the country,” the FMBN stated.
Others include: The Rent Assistance Loan, a micro-housing loan product designed to alleviate the financial burden of rental payments for eligible Nigerians, which is set for launch as well as the
Non-Interest Loan, designed for Nigerians who are averse to interest payment, particularly Nigerians of low and middle-income status.
Improving Turnaround Time
Over the years, the bank says it has struggled to catch up with the huge housing demand in the country, with many applicants waiting for several months before their mortgages are disbursed.
However, FMBN has prioritised efficiency and customer satisfaction in the last one year, leading to significant improvements in service delivery. One of the most notable achievements has been the reduction in turnaround time for loan approvals and disbursements.
“Previously, beneficiaries often faced delays of several months, but the bank has streamlined its processes, cutting the processing time to an average of 30 days, as long as the applicant has properly submitted all required documents and the board has met within the period to initiate approvals.
“An important driver of this improvement has been the digitisation of processes, a key component of the seven-point agenda of the bank’s current executive management. The deployment of digital platforms like the Core Banking Application has significantly reduced bureaucratic bottlenecks.
“Loan applications are now processed online, ensuring faster and more transparent service delivery. This shift to digital platforms has also enhanced the bank’s ability to monitor and evaluate its operations, leading to better decision-making and resource allocation,” the FMBN stated in note.
Another one is mystery shopping, a tool to improve customer service delivery and enhance customer experience and satisfaction, which has brought about more effective and efficient responsiveness to inquiries and complaints.
Strategic Handshakes
In the last 12 months, strategic partnerships have been forged with key stakeholders in the housing and financial sectors. From state governments, labour unions, and stakeholders in the real estate, to players in the housing finance and mortgage sectors, as well as international housing finance institutions.
While looking to expand its network and leverage multilateral resources for greater impact, there has also been a focus on attracting Direct Foreign Investments (DFIs) into the Nigerian mortgage market.
In this regard, the bank disclosed that it is collaborating with Shelter Afrique Development Bank for the development of affordable housing to target student populations across the nation.
“The bank is further exploring partnership opportunities with the International Union of Housing Finance, Association of African Development Finance Institutions, African Alliance for Youth Empowerment and a host of other like-minded organisations.
“FMBN’s engagement with international development agencies and financial institutions is aimed at exploring innovative financing models for affordable housing. These collaborations are opening up new avenues for funding and technical support, enabling the Bank to expand its operations and deliver on its mandate more effectively,” THISDAY was told.
With the recent return of Kano to the fold, a total of 35 states are now on board the NHF scheme, which has ensured wider access to mortgage financing for Nigerian workers, addressing the housing deficit in various regions and ensuring that more Nigerians benefit from the NHF scheme.
It is also enhancing partnerships with private developers, especially through the Real Estate Developers Association of Nigeria (REDAN), to deliver affordable housing projects across the country.
“These partnerships have resulted in many ongoing and completed projects in the past year, providing shelter for thousands of families. By working closely with developers, FMBN has been able to ensure that these projects are completed within stipulated timelines and budgets, while maintaining high standards of quality,” it added.
6,853 Projects, 106 Locations
Over the past year, the bank has financed the construction up to completion level of over 1,044 housing units across the country, with a total of 6,853 ongoing projects in 106 locations in both urban and rural areas, ensuring that Nigerians of low and middle-income status have access to decent housing.
FMBN has provided N100 billion as off-taker guarantee for the Renewed Hope Cities and Estates Programmes, starting with the 3,112 housing units in Karsana, FCT and championed by the Minister, Federal Ministry of Housing and Urban Development, Ahmed Dangiwa.
In addition, the bank provides loans through its various loan windows to contributors to the NHF scheme nationwide, to off-take houses provided through the programme or to members of beneficiary Co-operative Societies.
Through its various projects, the bank has been contributing to national productivity and economic growth, with the provision of about 171,325 jobs across Nigeria, through its efforts at affordable housing delivery.
Engineers, architects, surveyors, and even artisans across the value chain in the housing and real estate sector are able to access gainful employment which in turn has a ripple effect on the standard of living and economic growth.
Ambitious Targets in 2025
Building on the progress made in the past year, FMBN has set ambitious goals for 2025. NHF collections are targeted to increase to N211.33 billion, leveraging contributions from the informal sector and the diaspora community.
Mortgage loan offerings will expand, with new products targeting a total of 4,200 homeownership loans, with 2,500 dedicated to non-interest Rent-toOwn facilities, 1,100 for Mortgage Loan Origination, 400 as Rent-to-Own Facilities and 200 Diaspora Mortgage Loans.
The Bank also targets a total of 15,122 home construction loans, focusing on mega and mini city projects, as well as provision of 43,000 housing micro-soft loans in Home Renovation, Rent Assistance and Micro Home Improvement Loan.
In 2025, the Bank also aims for an aggressive loan recovery drive, targeting N93.7 billion in recoveries, and will finalise the National Mortgage Registry establishment to improve mortgage processing efficiency.
Looking Ahead
As the FMBN moves forward under the leadership of Osidi, the future appears to hold immense promise for transforming Nigeria’s housing landscape. Osidi’s strategic vision, anchored on recapitalisation, digital transformation, and expanded mortgage accessibility, positions the bank to address long-standing challenges which have beset it for years. By fostering stronger stakeholder collaboration and pushing for legislative reforms, the new leadership of the mortgage bank is laying a robust foundation for a financially sustainable institution capable of meeting the nation’s housing demands. Looking ahead, the success of FMBN will hinge on its ability to execute the bold initiatives set out by the new leadership, while navigating economic and regulatory hurdles. If, as they say, the morning tells the day, then there is no doubt that looking at Osidi’s first year at the headship of the bank, a turning point may have finally come for the FMBN.
Shehu Osidi
Bukonla Adebakin: The Woman on a Mission to Empower Social Entrepreneurs
Whatdrivessomeonetodedicatetheirlifetoempoweringothers?ForBukonlaAdebakin,it’sapassionforhelpingsocialentrepreneursachieve their dreams. With her latest book, “The Profit of Purpose - Mastering Financial Accounting & Reporting For Social Entrepreneurs”, Adebakin is on a mission to provide the financial tools and knowledge needed to succeed. In this interview with MARY NNAH, she shares her personal story, revealing the experiences that have shaped her, the challenges she’s overcome, the lessons she’s learned along the way, her motivations, and her vision for creating a more sustainable and impactful social entrepreneurship ecosystem
Can you share a brief overview of your professional journey and how it led you to write “The Profit of Purpose - Mastering Financial Accounting & Reporting for Social Entrepreneurs”?
I’ve built my career at the intersection of media, technology and development. Prior to my current role as the Chief Operating Officer in a growth marketing agency, I led in several capacities including being Senior advisor at The Future Project/The Future Awards Africa developing and executing the organisation’s programs towards achieving its mission. I achieved a 70% year-on-year growth. I raised over $780,000 for youth initiatives and maintained recurring funding for the organisation’s program. My expertise includes fund raising, project management, Impact storytelling, finance & strategic planning, and fostering crossfunctional collaboration to drive sustainable growth.
As I moved forward in my career, I realized just how powerful digital marketing could be in scaling that impact. I dove into growth marketing, focusing on data-driven strategies, social media, and outreach. This shift allowed me to combine my passion for purpose with practical, strategic tools—whether that was securing media coverage, engaging donors, or running digital campaigns that sparked real change.
Writing “The Profit of Purpose - Mastering Financial Accounting & Reporting for Social Entrepreneurs” felt like a natural extension of my work. Through my experiences, I saw firsthand how challenging it can be for social enterprises to balance mission with financial stability. I wanted to create a resource that could help social entrepreneurs not only amplify their impact but also build the financial foundations that would allow them to thrive long-term. This book is my way of sharing the lessons I’ve learned and helping others navigate the often-tricky world of financial accounting and reporting while staying true to their purpose.
What inspired you to write “The Profit of Purpose - Mastering Financial Accounting & Reporting For Social Entrepreneurs,” and what do you hope readers will take away from the book?
What inspired me to write this book was that I had received several consulting engagements to assist with financial reporting and advisory, managing under-budgeting, obtaining donor approval to move one line item to another, and so on.
I’ve seen many social entrepreneurs and nonprofit leaders struggle with financial management.
My goal was to create a simple, easy-to-understand guide that would help them gain control of their finances without feeling overwhelmed. Money is an important part of running any organization, and knowing how to manage it effectively can make all the difference. This book simplifies complex financial topics for non-financial entrepreneurs, empowering them to make data-driven business decisions and grow without stress.
Can you share some common financial accounting and reporting challenges that social entrepreneurs face, and how does the book address these challenges?
One of the biggest financial reporting mistakes I see social entrepreneurs making is poor recordkeeping. Many founders are passionate about their mission but fail to track or put systems in place to properly track expenses.
Another issue is under budgeting, especially when it comes to project deployment costs. Entrepreneurs often underestimate the expenses needed to execute a project, which can lead to overspending or running out of funds before reaching key business goals. In addition, there is often a lack of a clear plan for managing income, whether from grants or other revenue streams, which can result in misallocating funds or making poor financial decisions.
A big challenge is also the lack of proper documentation, which makes it hard to demonstrate financial health to potential donors, investors, or grant providers. Without transparency in financial records, it becomes difficult to build trust and secure future funding.
Lastly, many social entrepreneurs struggle with financial compliance and reporting requirements. Not staying on top of tax obligations, audit requirements, or donor reporting guidelines can lead to penalties or damage relationships with funders.
The good news is these mistakes are avoidable. In The Profit of Purpose, I specifically address these challenges by offering practical insights into financial education and discipline. For instance, Chapter 5 dives deep into financial reporting and how to establish strong financial practices. One of the primary reasons I wrote this book was to help entrepreneurs avoid these pitfalls, build sustainable financial habits, and
ultimately attract more funding to fuel their mission.
How does the book provide practical tools and knowledge for social entrepreneurs to master financial accounting and reporting, particularly in areas like fundraising, budgeting, and tax management?
In the book, I break down the essential financial practices that every social entrepreneur should understand, offering actionable steps to improve financial management. For instance, in the fundraising section, I cover strategies for tracking and managing grants and donations, ensuring that funds are properly allocated and spent. I also provide guidance on how to create a sustainable funding model that supports long-term growth, with tips on maintaining transparency with donors and investors.
When it comes to budgeting, I walk entrepreneurs through the process of building a detailed, realistic budget that accounts for all project deployment costs.
I emphasize the importance of aligning the budget with the organization’s goals and offer templates to help entrepreneurs create their own customized financial plans. This helps avoid under budgeting, overspending, or misallocation of funds, ensuring projects stay on track and within financial limits.
In terms of tax management, the book delves into the basics of financial compliance, outlining what social entrepreneurs need to know about tax obligations, audit requirements, and donor reporting guidelines. I provide practical steps for staying compliant with local regulations, avoiding penalties, and building trust with funders.
Overall, The Profit of Purpose offers a blend of foundational financial knowledge and practical tools that will help social entrepreneurs develop strong financial habits, manage funds effectively, and navigate the complexities of financial reporting with confidence.
What impact do you hope your book will have on the social entrepreneurship sector, and how do you plan to measure its success?
I hope to give social entrepreneurs the financial tools and knowledge they need to build strong, sustainable organizations. The social entrepreneurship sector is full of passionate individuals who are doing incredible work, but too often, financial challenges like poor record-keeping, under-budgeting, and compliance issues hold them back from reaching their full potential. I want this book to help clear up some of those hurdles and offer practical advice that’s easy to understand and implement.
I hope that by giving entrepreneurs the confidence to manage their finances better, they’ll be in a stronger position to attract funding, make smarter decisions, and scale their impact. It’s about combining purpose with solid financial planning, so these organizations can thrive and continue doing the good work they’re meant to do.
To measure its success, I plan to track a few
key things:
Readers Feedback: Hearing directly from
entrepreneurs about how the book has helped them—whether through success stories, improved financial management, or even just feeling more confident in their approach to finances.
Event Engagement: Watching how people respond at the book launch and in follow-up events. If the conversations spark real insights and action within the community, I’ll know it’s having the right impact.
Online Presence: I’ll keep an eye on social media discussions, reviews, and mentions to see how far the book is reaching and whether it’s making a difference in people’s day-to-day work.
Collaborations: If the book leads to more partnerships with organizations or funders who find value in the content, that’ll be a big win for me.
What advice would you give to social entrepreneurs who are just starting out and navigating the complexities of financial accounting and reporting?
For social entrepreneurs just starting out, my main advice would be to prioritize building a strong financial foundation from the beginning. This would begin with:
Keep Clear and Accurate Financial Records –Many entrepreneurs are passionate about their mission but struggle with tracking expenses. Proper record-keeping helps you manage your funds effectively and build credibility with investors and donors.
Budgeting and Expense Tracking Are Non-Negotiable – One of the biggest mistakes social entrepreneurs make is under-budgeting for key project expenses. Without a structured budget, you may run out of funds before reaching your goals. Plan your finances with precision and track every expenditure.
Understand Financial Compliance and Tax Obligations – Ignoring tax deadlines, mixing personal and business finances, or failing to document expenses properly can lead to unnecessary penalties and loss of trust from funders. Use accounting software, maintain separate business accounts, and stay on top of tax requirements.
Transparency Builds Trust and Unlocks Funding – Investors and donors want to see how their money is being used. Regular financial reports, clear budget breakdowns, and open communication about financial decisions will strengthen your credibility and open doors to more funding opportunities.
Invest in Financial Education – Don’t wait until you’re in financial distress to learn about money management. Take the time to understand financial statements, cash flow, and fundraising strategies. Learning these skills early will set you up for long-term sustainability. These steps will help them gain control and build a more sustainable social enterprise.
How does your experience in management consulting, operations, and non-profit management inform your approach to financial accounting and reporting for social entrepreneurs?
My experience in management consulting, operations, and non-profit management has deeply shaped my approach to financial accounting and reporting for social entrepreneurs. Having worked across multiple sectors, helping organizations grow, secure funding, and maintain financial transparency, I’ve seen firsthand how financial mismanagement can limit impact.
One of the biggest takeaways from my experience is the importance of maintaining clear and accurate financial records. In nonprofit management, for example, I had to ensure financial discipline while securing funding, tracking expenses, and demonstrating accountability to donors. I apply this same principle to social entrepreneurs by emphasizing structured budgeting, expense tracking, and compliance with financial regulations to unlock funding opportunities. Additionally, my background in operations has reinforced the need for strategic financial planning. Social entrepreneurs are often driven by passion but may struggle with sustainability. By applying financial forecasting, proper documentation, and donor reporting best practices, I help them balance their mission with long-term financial health.
Ultimately, my goal is to simplify complex financial concepts and equip social entrepreneurs with the tools they need to make informed decisions, attract funding, and sustain their impact.
Can you share any success stories or case studies of social entrepreneurs who have successfully applied the principles outlined in the book?
Yes. There was a particular organization that applied the principles of budgeting, tracking, and reporting. They encountered issues when the project manager overspent a line item and moved funds without going through the formal approval process. This happened during the first tranche of the grant, which was distributed in four tranches. Due to the team’s difficulty in reporting expenses accurately in the first tranche, it caused some issues. Although there was no foul play, the lack of proper documentation according to the approved line items created unnecessary stress. The bank statement clearly showed where the money had gone, so they could account for the expenditures, but it didn’t align with the approved budget.
By the time the second tranche arrived, I had already shared with them the principle of how to properly track the approval process for moving funds between line items, as required by the funder. They had read chapter four in the book and were now better informed. When the second tranche came, the project manager and the team followed the approved budget line items, ensuring that every expense was documented as required. In cases where they had under-budgeted certain line items, they contacted the funder to get approval for the adjustments.
By the end of the cycle, the team was able to submit a seamless report without any chaos, and they no longer required my intervention to resolve issues. The process was smooth, and they could confidently submit their reports. When the funder came for an inspection, all the books were in order. Every line item matched the bank statement and receipts, and the vendors were verified, there were no issues. One key factor in this success was the principle of accountability. The project manager and team understood that documentation and accountability don’t solely rest with the finance team; it starts with them, the ones on the ground.
How does “The Profit of Purpose - Mastering Financial Accounting & Reporting For Social Entrepreneurs” address the unique financial challenges faced by social enterprises, such as securing funding and managing grants?
I would like to state that “The Profit of Purpose – Mastering Financial Accounting & Reporting for Social Entrepreneurs” tackles the unique financial challenges social enterprises face, particularly in securing funding and managing grants, by providing clear, practical guidance on financial management. When it comes to securing funding, I emphasize the importance of transparency and proper financial reporting in the book. Funders and investors are more likely to support organizations that maintain clear and accurate financial records, provide regular financial updates, and demonstrate accountability through quarterly reports, budget breakdowns, and annual financial statements. The author shares insights on how these practices not only unlock funding opportunities but also build long-term relationships with donors and financial partners.
Bukonla Adebakin
At SPE/OLEF Forum, NNPC Says $2.8bn AKK Pipeline 72% Ready
NUPRC reveals 10 additional PPLs activated, targets 4m bpd PTDF highlights role of supply chain resilience in energy security SPE advocates deployment of technology in oil, gas sector
Emmanuel Addeh in Abuja
The Nigerian National Petroleum Company Limited (NNPC) yesterday revealed that the ongoing $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, hit 72 per cent completion in Q1, 2025.
Speaking in Abuja at the 2025 edition of the Oloibiri Lecture Series and Energy Forum (OLEF), organised by the Society of Petroleum Engineers (SPE) Nigeria and hosted by the Petroleum Technology Development Fund (PTDF), the Group Chief Executive Officer of NNPC, Bayo Ojulari, stated that the company currently has a team with the capacity to get things done.
The AKK project is a significant infrastructure initiative in Nigeria aimed at boosting the country’s energy sector and economic development, involving the construction of a 614-kilometer-long natural gas pipeline that stretches from
Ajaokuta in Kogi State, through Abuja and Kaduna, to Kano in northern Nigeria.
The pipeline, with a diameter of 40 inches, is designed to transport natural gas from the southern gas-rich regions to the northern parts of the country, forming a key component of Nigeria’s broader gas infrastructure strategy, including the Trans-Nigeria Gas Pipeline (TNGP).
The project’s primary goals include enhancing Nigeria’s electricity generation capacity by supplying gas to power plants, revitalising industries, and reducing gas flaring—a major environmental concern.
Represented by the Executive Vice President, Upstream, Udobong Ntia, the boss of the national oil company, noted that with substantial investments in energy infrastructure, NNPC was set to revamp the country’s energy sector.
With the event themed: “Driving
Energy Sustainability Through Technology, Policy, and Supply Chain Excellence,” the new NNPC GCEO called on industry stakeholders to collectively rethink the current paradigms shaping the energy sector in order to improve them.
Stressing that over 600 million people in Africa still remain without access to electricity, a statistic that reflects both a development deficit and a glaring opportunity for energy inclusion, Ojulari stated that in Nigeria, oil and gas continue to represent over 85 per cent of export earnings and contribute significantly to government revenue.
Quoting the International Energy Agency (IEA) World Energy Outlook, he stated that global energy demand is projected to grow by over 25 per cent through 2040, driven largely by industrialisation in Asia and the fast-growing population in Africa.
“Our upstream subsidiary, the NNPC Exploration and Production Limited, is deploying real-time reservoir monitoring, predictive maintenance, and AI-driven subsurface imaging to drive value and operational resilience.
“In the past, this is what we knew the big International Oil Companies (IOCs) to be doing, but now we’re doing this at NEPL, and I’m very proud to be at the forefront of that. Furthermore, our digital transformation roadmap is anchored on three core pillars: Intelligent automation, data governance, and cyber resilience.
“This is not just about efficiency. It is about future-proofing our assets and ensuring we remain competitive in a low-carbon world. Let me be clear, energy sustainability is not possible without digital sustainability. No transformation can thrive without an enabling policy environment,” he added.
According to him, Nigeria’s passage of the Petroleum Industry Act (PIA) in 2021 remains a historic milestone, one that has repositioned NNPC as a fully commercial entity empowered to compete and deliver value like never before.
“In alignment with Nigeria’s Energy Transition Plan, which seeks to achieve net-zero emissions by 2060, NNPC Limited has initiated several gas-led transition programmes, including the expansion of our autogas programme, targeting over 1 million vehicles, through 2026.
“Then the completion of critical backbone infrastructure such as the AKK pipeline, which is over 72 per cent complete as we speak (as of) first quarter 2025. NNPC as an energy company plays a key role in the power sector, contributing about 1.5 gigawatts of installed power capacity to the country,” Ojulari pointed out.
J.P MORGAN: DECLINE IN OIL PRICES WILL PUSH NIGERIA’S CURRENT ACCOUNT BALANCE INTO DEFICIT
Emmanuel Addeh and James Emejo in Abuja
Global financial services firm, JP Morgan Chase, yesterday, warned that the substantial decline in oil prices below its break-even of $60 per barrel, will push Nigeria’s current account balance into deficit, if sustained for a few months.
In its report, titled, “Frontier Local Market Strategy: Reducing Risk Further,” JP Morgan said, “Under such a scenario, we had previously estimated that USD/NGN could move above 1700 and, as such, close our trade.”
The investment banker’s cautious assessment came amid a major economic comeback, as Nigeria recorded a Balance of Payments (BOP) surplus of $6.83 billion in 2024, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
JP Morgan, in its assessment, stated that although the Nigeria
carry trade had been “one of our highest conviction trades in frontier local markets over the past year, we close our newest iteration of the trade at a loss as the global backdrop has changed since the US administration imposed global trade tariffs last week and expectations of a global recession increased”.
JP Morgan said the reaction of Central Bank of Nigeria (CBN) over the past week had been somewhat proactive.
The report acknowledged that the apex bank increased its dollar sales interventions in order to avoid convertibility risks and limit a disorderly move higher, given the FX markets significant dependence on CBN flows.
The report stated, “When compared to its peers as well as more liquid markets, NGN’s -3.6 per cent move against USD over the past week has been reasonable, in our view (it’s been as much as 6.5 per cent weaker at some points).
streamline cross-border trade and reduce inefficiencies.
“More importantly, as expected, given the FX markets significant dependence on CBN flows, the central bank has had to increase its dollar sales interventions in order to avoid convertibility risks and limit a disorderly move higher.
“The central bank has sold around $550 million to the market over the last week (vs $1.0 billion for the whole of March), a trend which we expect will continue as we think foreign portfolio outflows are likely to accelerate from here (we estimate FPI holdings still amount to at least $10 billion), although a substantial part of these may be private placements which may not be unwound on the interbank market).”
The renowned investment banker also stated that Liquidity of T- and OMO-bills had been lower than FX.
It said while the FX market had functioned better than many expected, the domestic rates market had struggled to absorb supply of foreign-held short-dated securities.
It said this had possibly resulted in lower FX demand, while rates had backed up by around 300bps since the start of April.
JP Morgan said, “Given our expectations of increased foreign outflows, the central bank may need to facilitate the better functioning of the market, either by enforcing primary dealer requirements to provide 2-way quotes, or stepping in itself as the buyer of last resort.
“For now, we expect rates to continue moving higher, above 30 per cent in yield terms, as higher premiums are needed for such low oil prices.
“We remain constructive Nigeria in the medium term. As we wrote last week before the tariff carnage, we believe Nigeria will stay the course on its reform journey, especially after implementing the more politically difficult measures of eliminating fuel subsidies and allowing the exchange rate depreciate as well as become more flexible over the last 18 months.
TINUBU HAILS AFREXIMBANK’S ROLE IN BREAKING AFRICA’S TRADE, FINANCING BARRIERS noted that the impact of Afreximbank’s interventions continued to be felt across continent.
The unveiling of the magnificent trade edifice was graced by dignitaries includingMinister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Minister of Budget and Economic Planning, Senator Abubakar Bagudu, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Minister of State for Finance, Dr. Doris Uzoka-Anite.
Other are Governor of Imo State, Hope Uzodinma, Africa’s richest man, Alhaji Aliko Dangote, Chairman, Heirs Foundation, Mr. Tony Elumelu, among others.
Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, the president acknowledged over $20 billion in trade finance facilities disbursed by the bank to facilitate intra-African trade with plans to double that amount by 2026.
He said the development financial institution had supported industrial parks and special economic zones development as well as boosted manufacturing and export capacity.
He also recognised the AfCFTA Secretariat’s partnership with Afreximbank which aims to operationalise the world’s largest free trade area, connecting 1.3 billion people and a combined GDP of $3.4 trillion.
Tinubu called on stakeholders to renew their resolve to build a stronger, more interconnected, and prosperous Africa.
To achieve these goals, he said the continent must unlock new trade corridors and reduce dependency on imports; empower SMEs and women-led businesses through access to markets and finance and harness digital technologies to
The president further commended Afreximbank for its visionary leadership and assured the institution of the federal government’s continued partnership to ensure that AATC achieves the objectives of growth in Africa’s trade ecosystem.
He reaffirmed the government’s steadfast commitment to support initiatives that drive inclusive growth, digital transformation, and sustainable industrialisation.
The president also said the commissioning of AATC remained a landmark project that embodies our “shared commitment to advancing intra-African trade, fostering economic integration, and unlocking the vast potential of our continent”.
He said the AATC symbolised realisation of a bold vision for Africa’s economic future.
Edun, hailed the President/Chairman, Afreximbank, Prof. Benedict Oramah, for positioning the bank as one of the most respected and valued financial institutions among its peers, with a passion for uplifting the continent’s economy.
He said the federal government was pleased with the bank’s thoughtfulness in situating the AATC edifice among its kind in Nigeria.
The minister noted that Nigeria remained the second largest shareholder of the bank after Egypt, adding the former will continue to play a critical role in the bank’s growth and success story.
Edun said since its inception in 1993, Afreximbank had disbursed over $49 billion in funded and unfunded support to the country’s public and private sector entities.
He said this has had a huge developmental impact on Nigeria’s economy and international trade sector.
The minister said the trade centre was built to contribute to the hospitality businesses in the country, and create a leading commercial and business center in Africa where all trade can be easily consummated, elevating Africa’s position in global trade.
The AATC houses modern office spaces, commercial areas, conference centers, exhibition halls, and business hotels, and is built to reflect the African culture, he said.
He said, “I commend Prof Oramah for his pan-African vision. Under his leadership, the bank has indeed been a catalyst for the development of Nigeria and Africa.
“Prof. Oramah, your fortitude and grit are unprecedented. You have left an indelible footprint on the sands
Continued on page 37
“We think the changes at the state oil changes a company, NNPC, would bear fruit in the medium term, as oil proceeds should now flow more freely into the fiscal accounts, via the central bank.”
Earlier this week, CBN announced the rebound in BOP in a statement issued yesterday by the bank’s acting Director, Corporate Communications, Mrs. Sidi-Ali Hakama.
BOP is a record of all economic transactions between a country’s residents and the rest of the world, including trade in goods and services, income flows, and capital transfers, over a specific period.
The central bank said the improvement reflected the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in the nation’s economy.
Under the review period, the current and capital account recorded a surplus of $17.22 billion, underpinned by a goods trade surplus of $13.17 billion.
Petroleum imports declined by 23.2 per cent to $14.06 billion, while non-oil imports fell by 12.6 per cent to $25.74 billion.
On the export side, gas exports rose by 48.3 per cent to $8.66 billion, while non-oil exports increased by 24.6 per cent to $7.46 billion.
Remittance inflows remained resilient, with personal remittances rising by 8.9 per cent to $20.93 billion.
Similarly, International Money Transfer Operator (IMTO) inflows
surged by 43.5 per cent to $4.73 billion, compared to $3.30 billion in 2023, reflecting stronger engagement from the Nigerian diaspora. Official development assistance also rose by 6.2 per cent to $3.37 billion. Net financial assets acquisitions amounted to $12.12 billion while portfolio investment inflows more than doubled, increasing by 106.5 per cent to $13.35 billion.
In addition, resident foreign currency holdings grew by $5.41 billion, indicating stronger confidence in domestic economic stability.
Although Foreign Direct Investment (FDI) fell by 42.3 per cent to $1.08 billion, the overall financial account posted notable gains.
The country’s external reserves increased by $6 billion to $40.19 billion by year-end 2024, bolstering its external buffer. Notably, net errors and omissions narrowed significantly by 79.5 per cent to negative $5.10 billion in 2024, down from $24.90 billion in 2023, reflecting substantial improvements in data availability and capture. CBN said this represented a major advance in data accuracy, transparency, and overall reporting integrity.
The year’s surplus highlighted the effectiveness of the country’s ongoing reform agenda. The liberalisation and unification of the foreign exchange market, a disciplined monetary policy approach to managing inflation and stabilising
Continued on page 37
NO ROOM FOR DISTRACTIONS, IT’S TIME TO BUILD OUR PARTY, DECLARES NENADI USMAN
to rebuilding and growing the party for victory.
In a message of appreciation to members and leaders of the party after Wednesday’s NEC meeting in Abuja, Usman assured them that a new Labour Party would come out of the crisis now since it’s been finally settled by the apex court of the land.
According to Usman, who commended all those that attended the NEC, the meeting was both timely and necessary, “as we work collectively to fortify the foundations of our party, build unity among our ranks, and refocus on our enduring mission — building a New Nigeria that works for all.
“It is with deep humility and a profound sense of responsibility that I accept the resolution passed at the NEC meeting, appointing me as the Acting National Chairperson of the Labour Party. I am grateful for the unanimous vote of confidence and for the trust you have placed in me to lead during this transitional period.
“We followed up this important milestone with a formal visit to the Independent National Electoral Commission (INEC), where we presented the Supreme Court judgment affirming the legitimacy of our party’s leadership transition
and communicated the outcome of our NEC proceedings.
“This is more than a procedural step — it is a demonstration of our collective commitment to due process, internal democracy, and the transparent governance that the Nigerian people rightfully expect from us.
“I wish to express my heartfelt appreciation to all members of the Labour Party, the leadership of the NLC and TUC, the Obidient Movement and every Nigerian, who continues to believe in this movement. To our leader and presidential candidate, Mr. Peter Obi, your steadfastness and integrity continue to inspire millions.
“I reaffirm my commitment to the values and vision that define the Labour Party — a party of the people, for the people. Now is not the time for distraction or division. Now is the time to build, with unity, courage, and a deep love for our country.
“Together, we will continue this journey of hope, and I pledge to serve with diligence, openness, and unwavering focus on our shared goals. Let us remain steadfast, engaged, and hopeful. The New Nigeria is not a dream deferred — it is a vision in progress,’’ she stated.
Meanwhile, the Julius Abure faction of party has alerted the nation and particularly, the INEC of an illegal primaries for the Anambra State governorship election allegedly being conducted by some members of the party.
In a statement by the spokesman of the Abure camp, Obiora Ifoh, ‘’For the benefit of doubt, the Labour Party has since concluded its governorship primaries in Anambra State and the name of the successful candidate has already being submitted to the INEC in line with the election guidelines.
“We are therefore disassociating the party from any other or outcome of any primaries as the party has moved on, waiting for the right time to flag off our campaigns
‘’In line with the party constitution, INEC guidelines and the Electoral Act, the processes leading to the primaries started with the issuance of 21 days Mandatory notice to INEC by the Labour Party, after which we issued the notices of the commencement of our primaries.
‘’Two aspirants, John Nwosu and Chief Moghalu met the requirements after the screening. The party on April 1st, 2025 conducted its Ward Congresses and the Party primaries on April 5th, 2025.
“Moghalu polled a total of 573 delegate votes to defeat his only contestant, Chuma Nwosu, who got 19 votes in the hitch-free exercise. The party has also issued a certificate of return to the winner and the party candidate for the November 8, 2025 election.
‘’INEC has in an official communication stated that all political parties must complete its primaries on or before April 10, 2025 in compliance with Section 28(1) of the Electoral Act 2022.
“Also in line with the provision of Section 84 of the Electoral Act 2022, INEC had mandated the Political Parties to abide by the guidelines particularly to enable the Commission to plan for the effective monitoring of the primaries,’’ he said. The faction said it had since complied with all the processes of producing its candidate in an exercise monitored by top INEC officials, and had even submitted the names of its candidates.
“We are therefore warning anyone or group of persons who has chosen to disrupt a process which has begun over a month ago and has reached a logical conclusion with the submission of the candidate names to desist from from such malfeasance and mischief.”
Also speaking, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, stated that about 10 of the Petroleum Prospecting Licenses (PPLs) recently awarded were already in operation.
Ojulari
COURTESY VISIT BY APM TERMINALS TO MINISTER OF MARINE ECONOMY...
33 States, FCT Risk Impact as FG Unveils 2025 Flood Outlook
The federal government has projected that 33 states and the Federal Capital Territory (FCT) will experience varying degrees of flooding this year, as it unveiled the 2025 Annual Flood Outlook (AFO) yesterday in Abuja.
The report identified 1,249 communities in 176 Local Government Areas as high flood risk zones.
Speaking at the launch, the Minister of Water Resources and Sanitation, Prof. Joseph Utsev,
stressed the significance of the report in shaping Nigeria’s disaster preparedness strategy.
“We are looking at a major climate challenge ahead, our data shows that 33 states, including the FCT, are at risk of flooding in 2025. This includes 1,249 communities at high risk and over 2,000 others in the moderate risk category.”
Utsev explained that the flood threat will span three phases of the year. “Between April and June, 657 communities across 52 LGAs are at
high risk, from July to September, the threat shifts to 544 communities in 142 LGAs, and then 484 communities in 56 LGAs from October through November.”
He added that the forecast also accounts for urban flash floods expected in major cities. “Due to heavy rainfall and poor drainage systems, cities like Abuja, Lagos, Kano, Port Harcourt, and Ibadan will likely experience flash flooding,” the minister warned. According to him, sea level rise
and tidal surges will also lead to coastal and riverine flooding in states such as Bayelsa, Cross River, Delta, Lagos, Ogun, Rivers, and Ondo, noting that these events not only threaten communities but also entire ecosystems.
In a bid to enhance national flood resilience, the minister announced a number of initiatives, including the National Flood Insurance Programme; Integrated Climate Resilience Innovation Project, and the Niger Flood Project for long-term
Goodwill Medical Centre Commissions N38 Million Bridge in Enugu Community
Gideon Arinze in Enugu
The management of the Goodwill Medical Centre (GMC), Enugu, yesterday, commissioned the Avah River Bridge constructed for the people of Umuchigbo, its host community.
The bridge, which was built by the family and friends of the Chief Executive Officer of the GMC, Prof. Amazigo, with the support of the chairman of Enugu East Local Government, Beloved Dan, is expected to link three urban slums and the adjoining Ifoh community to essential services in the LGA.
Speaking during the commission-
ing ceremony, Trustee of the GMC, Anne Ndu, said that the project, worth over N38 million, was in keeping with its commitment to transforming lives in its host poor and underserved communities.
She noted that until the construction of the bridge, crossing the Avah River, a short distance between the GMC and the communities, was a nightmare to residents, adding that many of them often complained desperately about risking their lives and the high cost of transportation using the longer alternative routes.
In her address, Prof. Amazigo said that the avoidable tragedies and the communities’ clarion call
for help, moved her and the GMC Management to approach friends and public-spirited individuals to raise funds to construct the Avah River bridge for pedestrians, motorbikes and (Keke) tricycle users.
“Apart from improving general access and easing the means of transportation for the residents, the bridge case will also reduce fatalities and complications that often arise due to avoidable delays,”.
She urged governments at all levels to always ensure that they respond to the needs of the poor, as there is no meaningful development that can be achieved when they are left behind.
Enugu State Electricity Commission Issues Fresh 5MW Power License, Says More Coming
In yet another milestone in its regulatory efforts to boost electricity supply in the state, the Enugu State Electricity Regulatory Commission, EERC, has issued a 5MW power generation license to Tempo Power Solutions Ltd to set up a gas-fired plant. This brings to a total of 15MW, the worth of power generation licenses issued by EERC since the successful completion of the transfer of regulatory oversight from the Nigerian Electricity Regulatory Commission, NERC, to the agency on October 22, 2024, a feat it was the first state to achieve.
Speaking during the issuance of the license at the EERC office in Enugu, Thursday, the Chairman and Chief Executive Officer of the agency, Chijioke Okonkwo, said the milestone reflected the growing confidence that private sector players and investors reposed in the Enugu
State electricity sector and in the enabling environment created for electricity business to thrive.
“Tempo Power swiftly took advantage of this opportunity offered by the conducive investment climate in Enugu State, engaged an off-taker and successfully completed the application process for the generation license.
“Their project is a model of proactive engagement and strategic partnership, and the successful deployment of this 5MW power plant is a collective win for all of us. We are confident that as the market grows, Tempo Power will continue to scale up its capacity.
“We acknowledge that this transformation was initiated by the visionary leadership of Governor Peter Mbah through the articulation of the Enugu State Electricity Policy 2023 and the enactment of the Enugu State Electricity Law also in 2023.
“Since we successfully completed the transfer of regulatory oversight from the national regulator (NERC) to EERC on 22nd October 2024, we have issued interim licenses, including an interim distribution license to Mainpower Electricity Distribution Limited and a 10MW generation license to Fedikore Limited.
“We have successfully resolved over 60 customer complaint issues and we are equally reviewing four license applications covering generation, electricity distribution and electricity retail,” he stated.
While recognising the arduous work ahead, the EERC Chairman reiterated the Commission’s commitment to working collaboratively with stakeholders - electricity providers, policymakers, financiers, and communities - to deliver reliable, accessible, and sustainable power across the state.
Also speaking, the chairman of Enugu East LGA, Dan, thanked the management of the hospital for the construction of the bridge, which he described as a symbol of hope and progress.
He said that his administration was also constructing a bridge in addition to a 1km road that will further expand access to the lead to the health facility.
“We are ready to work together with the private sector and anybody who is committed to developing that affects the grassroots,” he said.
water resource management.
He added that the ministry will complement this year’s flood outlook with an Annual Drought Outlook, aimed at presenting a more comprehensive picture of
climate risks. In his opening remarks, the Permanent Secretary of the Ministry, Mr. Richard Pheelangwah, emphasised the devastating effects of past floods, calling for urgent collaboration.
Bodo Clean-Up:
NOSDRA Certifies 355 Grids, to Begin Fullscale Environmental Restoration
Folalumi Alaran in Abuja
In a significant stride towards environmental restoration in the Niger Delta, the National Oil Spill Detection and Response Agency (NOSDRA) has confirmed that 355 out of 363 remediation grids under the Bodo clean-up project have been fully cleared and approved for restoration.
This was disclosed by the Director General of NOSDRA, Chuwuemeka Woke, during a visit by the management team of Renaissance Energy Group yesterday in Abuja.
Woke, who commended the progress made so far, noted that the approval marks a critical milestone in the long-running environmental recovery efforts in
the Bodo community, which has suffered extensive oil spill damage over the years.
“With 355 of the 363 grids already cleared and certified, the ground is now set for full-scale restoration to begin. We are now waiting on Renaissance Energy to take the next step. This is no longer a Shell responsibility—it is now yours, and we are prepared to work with you to ensure success,” he stated.
The NOSDRA boss emphasised that remediation is not just a regulatory requirement, but a moral obligation to host communities that have endured the devastating impacts of oil pollution.
He urged Renaissance Energy to embrace its inherited environmental responsibilities as part of its acquisition of SPDC’s assets.
Deji Elumoye in Abuja
Vice President Kashim Shettima has paid a condolence visit to the family of the late former governor of Oyo State, Abiola Ajimobi, on the recent death of their eldest daughter, Abisola Kola-Daisi, aged 42, in the United Kingdom.
A release issued on Thursday by Media Assistant to the Vice President, Stanley Nkwocha, stated that during the visit, prayers were offered for the deceased, just as Shettima conveyed the President Bola Tinubu’s condolences to the former First Lady of Oyo State, Dr. Florence Ajimobi, and other family members.
“May God give you the fortitude to bear the loss. You lost your husband nearly four years ago, now your eldest daughter. I am sorry.
“The President and the entire government stand with your family during this difficult time. Your hus-
band’s contributions to our nation’s progress remain unforgettable, and we share in your grief,” the Vice President said.
Also, Shettima extolled the philanthropic and sacrificial life of the late Mrs Gbemisola Olowolafe, particularly her concern for the well-being of her community and humanity at large.
According to the Vice President, the late philanthropist “lived not for herself, but for others”, describing her life as “the greatest complement each of us could ever have, no matter the height we climb in our pursuit of meaning”.
Shettima stated this on Wednesday during a service of songs and night of tributes for the late Mrs Olowolafe, held at the Eko Convention Centre, Lagos. Mrs Olowolafe, wife of the Chancellor of Ekiti State University, Ado-Ekiti, and former Chairman
of GZ Industries (GZI), Dr Tunji Olowolafe, passed away on Tuesday, March 11, 2025, after a brief illness at the age of 63. Speaking during the service of songs and night of tributes, Shettima said the tributes that have amassed since her passing are a reassurance that “she was, in the truest sense, a woman of substance.
“Mrs Olowolafe’s life reminds us of the urgent need to live deliberately, to love without conditions, to serve without seeking recognition. She challenges us, even in her transition, to be better, to give more, to live as though we are passing through.”
Describing the late Mrs Olowolafe as a matriarch of grace, a philanthropist without fanfare, and a believer in the sacredness of humanity, the Vice President regretted that she is now being described in the past tense, contrary to the spirit she radiated during her lifetime.
Folalumi Alaran in Abuja
Mr. Frederik Klinke;
Marine
Blue Economy, Mr. Olufemi Oloruntola; Minister of Marine and Blue Economy, Adegboyega Oyetola (CON); Chief Financial Officer (CFO), APM Terminals, Mr. Peter Wikstrom; President, Africa/Europe Region, APM Terminals, Mr. Igor Van den Essen; CFO, APM Terminals Nigeria, Mr. Courage Obadagbonyi; and Chief of Staff to the Honourable Minister, Dr. Charles Akinola, during a courtesy visit from APM Terminals to the minister in Abuja on Wednesday
28TH CONVOCATION CEREMONY OF LASU...
L–R: Otunba Femi Pedro; Chancellor,
and
Court Restrains FG from Demolishing Banana Island Boat ClubHouse
Bennett Oghifo and Wale Igbintade
A federal high court sitting in Lagos has given an interim injunction restraining the Federal Ministry of Housing and Urban Development, their servants, agents, privies, from demolishing a property owned by the residents of Banana Island, Lagos.
Justice Chukwujekwu Aneke granted the order in Suit No: FHC/L/CS/470/25 following a motion filed by the Incorporated Trustees of the Banana Island Property Owners/Residents Association.
The application was moved by their counsel, O. Adejuyigbe, SAN.
Other plaintiffs in the suit include Olusola Oladunjoye, Chief Ugo Nnabuife, and Babatunde Odunewu (suing on behalf of all property owners and residents of Banana Island).
The ministry wants to demolish the estate’s Boat ClubHouse situated at OT QC in Banana Island, Ikoyi, Lagos for the construction of an access road to an upcoming estate to be known as Apple Island.
Justice Aneke, after considering the submissions, ordered all parties to maintain the status quo until the court decides on the pending motion for an interlocutory injunction.
The court injunction is com-
ing from a Matter which the Incorporated Trustees of Banana Island Property Owners/Residents Association instituted against the Attorney-General of the Federation, Minister of Housing and Urban Development and Federal Ministry of Housing and Urban Development, praying the court to stop them from carrying out the demolition of the property.
The court, upon reading through the Motion, it’s Affidavit of 25 paragraphs deposed to by Chief Ugo Nnabuife, Nigerian Citizen and a Legal Practitioner of P35, 219 Close, Banana Island, Ikoyi Lagos State with attached exhibits and a written address signed by Okechukwu Tagboo Dike Esq, all filed at the Court Registry Ikoyi, Lagos, ordered the defendants to stay action.
The order restrains the AGF, the minister, the ministry, their servants, agents or privies from taking any action in respect of the Plaintiffs’ Boat ClubHouse, as stated in their letter of 28/02/2025, pending the determination of the motion on notice.
The court also issued an interim order that the status quo in respect of the Plaintiffs’ Boat ClubHouse, as at the date this action was instituted, be maintained by parties to this suit, pending the determination of the motion on notice.
The court, after hearing O. Adejuyigbe (SAN) with M. O. Afolabi Esq, Counsel for the Plaintiff/Applicant, and having carefully considered the application and submissions of the counsel, also ordered that the status quo in respect of the Plaintiffs’ Boat CIubHouse be maintained by the parties, pending the determination of the motion on notice.
The residents of the estate said they were rattled that, despite these court orders and interim injunctions, officials of the federal ministry of housing and urban development still invaded the estate Tuesday morning to demolish the Boat ClubHouse.
“You needed to be here early enough to see the harassment and intimidation which these officials subjected our residents to this morning,” a resident of the estate who did not want his name mentioned, told our reporter who was at the estate on Tuesday.
He is concerned that court orders were no longer respected, especially by government and its agencies.
“This matter is in court and there is an interim injunction restraining these people from demolishing our property, yet they were here in their numbers to carry out the demolition,” he told journalists.
NDLEA: Terrorists, Drug Dealers in Arms Exchange in Sahel to Destabilise W’Africa
Linus Aleke in Abuja
The National Drug Law Enforcement Agency (NDLEA) had disclosed that terrorists, bandits, kidnappers and other criminal elements destabilising the West African sub-region were exchanging small arms and light weapons with drug traffickers through barter trade in the Sahel region.
Chairman of NDLEA, Brigadier General Buba Marwa (Rtd), revealed this at the ongoing Stakeholders Conference on Security in Nigeria, organised by the Ministry of Police Affairs in collaboration with the Nigeria Police Force and the National Central Bureau in Abuja.
He asserted that drug traffickers used proceeds from drugs to fund
insurgency and insecurity in the entire sub-region.
Represented by Director of Intelligence, Kennedy Zirangey, the Chairman also disclosed that terrorists and other criminal elements attacked communities in Nigeria under the influence of drugs and other hard substances.
He said: “Terrorists, bandits, and other criminal elements are often under the influence of drugs and other substances when carrying out attacks on communities.
“It is on record that whenever security forces overrun terrorist camps, kidnappers’ hideouts, and other such
locations, hard drugs like opioids, especially tramadol, are frequently recovered in large quantities, indicating that these substances are their stimulants and driving force. They rely on these substances to operate.
“Synthetic opioids have become a serious challenge in the West African sub-region, where hundreds of containers of these dangerous substances are smuggled into ports in Ghana, Togo, and Nigeria.
“Aside from local consumption, some are smuggled through land borders into landlocked countries like Niger, Chad, and Mali, eventually reaching the North African region,
where there is a large market for these drugs.
“It is no surprise that the significant movement of small arms and light weapons within the region is often fuelled by those involved in drug trafficking, who frequently exchange these drugs across the Sahel for small arms, which are destabilising the region.”
Marwa, however, thanked the National Security Adviser, Mallam Nuhu Ribadu, who recently established a multi-agency committee to inspect ports in Lagos and Port Harcourt, with the aim of destroying containers holding illicit drugs.
JAMB: Candidates Planning to Cheat Meet Waterloo, As Board Deploys Decoy Website Katsina, UNICEF Sign Three-year Workplan to Boost Health, Education, Child Protection
Gov Radda announces N120bn investment in education 211,000 sit for mock exams
Francis Sardauna in Katsina
The Katsina State Government and the United Nations Children’s Fund (UNICEF) have signed a three-year work-plan (2025-2027) to boost health, education, nutrition and child protection in the state.
The three-year work-plan which is aimed at brightening the future of every child in Katsina State, will also enhance Water, Sanitation and Hygiene (WASH) and social policy in the state.
Signing the work-plan at the Katsina Government House Thursday, the Chief of UNICEF Field Office Kano, Mr. Rahama Farah, said it was a testament to UNICEF’s commitment to transform children’s lives in the state.
Represented by the Health Manager, UNICEF Field Office Kano, Dr. Sereke Deres, Farah said the workplan was not just a document, but a testament to “our shared vision for a brighter future for every child in Katsina State.”
He urged the state government to increase its budgetary allocations to the health, nutrition, education, WASH, child protection and social protection sectors for effective service delivery.
By prioritizing investments in the sectors, he said, the state government could build resilient systems that are less dependent on external funding and more responsive to the needs of its citizens.
He explained that investing in children’s future and wellbeing is not only a moral imperative but also a strategic decision that will yield long-term dividends for the state’s development.
Farah said: “The signing of this workplan therefore formalises yet again our partnership that holds immense promise for the children and families of Katsina State.
“The plan envisions ambitious targets and outcomes for which resources need to be mobilized
and the Katsina State Government is expected to contribute its share as counterpart funding to achieve and sustain the planned results.
“The plan is a comprehensive framework that will guide our collective efforts in the critical areas of health, nutrition, education, child protection, water, sanitation and hygiene (WASH), and social policy.”
Farah, however, said polio virus remains a significant threat to children’s health in the state, adding that “eradicating polio must be our top priority in 2025.”
He admonished the government to engage local government chairmen, community and religious leaders by holding them accountable to ensure that every child is vaccinated in the state.
According to him, “the Katsina State Government must take the lead at the ward, district, and local government levels to address vaccine refusals.”
Kuni Tyessi in Abuja
Candidates intending to cheat during the 2025 Unified Tertiary Matriculation Examination, UTME have met their Waterloo, as the Joint Admissions and Matriculation Board, JAMB, has deployed decoy websites.
This is as no fewer than 211,000 candidates on Thursday sat for the 2025 Unified Tertiary Matriculation Examination (UTME) mock exam conducted by the Joint Admissions and Matriculation Board (JAMB) across designated Computer-Based Test (CBT) centres in the country.
JAMB Registrar, Prof. Ishaq Oloyede, who disclosed this while monitoring the exercise at a CBT centre in Bwari, Abuja, revealed that the results of the mock examination will be released on Friday
The Registrar who said the only way to pass UTME is by studying hard, expressed concerns that some candidates are patronizing rogue websites in order to cheat in the exam, adding that JAMB has also opened a decoy website targeting
such individuals.
“We need to let the students know that the best way to pass the examination, UTME in particular, is to study. We are aware of some rogue websites asking people to come and pay that they can help.
“It cannot work. We have also opened our own rogue website.
And as of this morning, about 180 students have paid.
“So those students, because to attempt to cheat is already an infraction. So those who paid into that account, looking for questions we are going to deal firmly with them.
And many of the institutions, UTME is not a school-based examination.
“We register students individually. And that is why we tell the students, do not give (out) your registration number. Do not register by proxy.
“Do not give your registration number to anybody. Because some of these schools want to be able to brag that, oh, my 10 students from my school scored 280. There was a state where even the governor of a state was misinformed, and they
were celebrating nothing. So, this type of thing that people want to cut corners, we are abreast of all this.
“We have about 180 of them. And we are going to deal with them firmly. We are going to cancel their results, both UTME and DE,” Oloyede said.
“They will have the results tomorrow. The results will be ready. Those who finished, we are working now on their results, but we want to compare with the second batch, the third batch, and so on. And see that everything is working well. But later by tomorrow, they will have the results,” he said.
Explaining the purpose of the UTME Mock, Oloyede said the exercise was aimed at testing the board’s readiness for the main examination and experimenting with new strategies to improve the process.
“The word is mock, and we want to say so far so good. What we want to do is to try some things. As students are getting wiser, we are also getting better.
Lagos State University (LASU), Prof. Gbolahan Elias; Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Chairman/CEO, National Drug Law Enforcement Agency (NDLEA), Brig. Gen Buba Marwa (Rtd), conferred with Doctor of Humane Letters (Infrastructure, Security
National Development), Honoris Causa; His wife, Munirat; Vice Chancellor, Prof. Ibiyemi OlatunjiBello; and Pro-Chancellor and Chairman of the Governing Council, Sir David Sunmoni, during the 28th Convocation Ceremony of LASU, at the Buba Marwa Auditorium, Main Campus, Ojo, yesterday
MIDWIFERY KITS PRESENTED TO NORTH EAST...
L–R: Coordinating Minister of Health and Social Welfare, Professor
First
Nigeria,
Leemon Ikpea Hosts Okpebholo, Urges Ighodalo to Support New Governor Says
event not political
Emmanuel Addeh in Abuja Industrialist and Chairman, Lee Engineering, Chief Leemon Ikpea, has hosted the Governor of Edo state, Mr Monday Okpebholo, advising the governor’s rival during the recent Edo governorship election, Asue Ighodalo, to support the new government.
In his remarks at the event held in his country home, Ewatto, Esan South-east local government of the state, Ikpea stated that the ceremony was not political, but a gathering of Esan sons and daughters.
“It is with profound gratitude and a deep sense of honour that I welcome you all to this special occasion—a reception in honour of
His Excellency, Distinguished Senator Monday Okpebholo, Executive Governor of our dear Edo State. I wish to state from the onset that this is not a partisan political gathering.
“You all know I am not a politician. It is a gathering of well-meaning Esan sons and daughters as well as some of our friends from across Edo State, irrespective of their political
leanings, to celebrate our amiable son and governor.
“Today, we gather not just to celebrate the victory of the governor, but to reaffirm our collective commitment to the unity, development and progress of Edo state. The 2024 governorship election in the state and the subsequent election petition tribunal proceedings which
Lake Chad Basin: Nigeria, EU, France Begin 2nd Phase Initiative to Lift 500,000 Out of Poverty
Onyebuchi Ezigbo in Abuja
As part of efforts to address the economic and social crisis affecting people living within the conflict areas of the Lake Chad region, the federal government, European Union (EU), France and other development partners yesterday launched the second phase of an economic recovery initiative to help pull the vulnerable population out of poverty.
The second phase of the project known as RESILAC 2 - Inclusive Economic and Social Recovery around Lake Chad which is the brainchild of the EU and French Development Agency and supported by over 20 development partners is targeted at impacting directly on 36,000 beneficiaries in Borno state.
With a total budget of 40 million Euros, RESILAC 2 is co-funded by the EU and AFD and executed by a consortium that includes Action Against Hunger (as lead partner), Care and Groupe URD
in collaboration with the CCFD-Terre Solidaite network, 13 civil society organisations, sub-regional and national authorities.
The five phase project is to be implemented in three countries - Cameroon, Nigeria and Chad, with the Lake Chad area and collaboration with the Lake Chad Basin Commission.
Speaking on the project, European Union Ambassador,Gautier Mignot said it is a very important project targeted at helping the communities and especially the most vulnerable, in particular the internally displaced persons to have better opportunities in sectors like forestry, fishery like agriculture and others.
He said the initiative will be implemented in three Local Government Areas - Jerre, Kundiga and Maiduguri metropolis in Borno state while other communities, in northern Cameroon, the Lake Province of Chad will also benefit from the empowerment scheme. The EU ambassador further
said that the programme will be implemented in the third countryNiger when the political conditions are met.
While pledging the support of his country, the Ambassador of France and coordinator of the French Development Agency, Mr. Xaxier Nerun, said the launch of the project reaffirmed a shared ambition, “that of building long-term peace, resilience, and sustainable livelihoods for the communities of the Lake Chad Basin”.
Country Director of Action Against Hunger, represented by Andualan Fekadu described the launch of RESILAC phase 2 programme as a moment that underscores the spirit of partnership and shared responsibility in addressing one of the most complex crises facing communities in the region.
He said the project was built upon three powerful and interconnected pillars - enhancing access to basic social service and promoting social inclusion, whereas the second one is
GLO Opens New Retail Outlet in Ogbomoso
Digital solutions provider, Globacom, on Tuesday commissioned a new, ultramodern retail outlet in Ogbomoso, Oyo State, to ensure easier accessibility of its products and services to customers within the town and its environs.
Globacom’s Retail Sales Chief in charge of Oyo Division, Mr. Ikechukwu Onuekwusi, said in an address at the event that the commissioning was in line with Globacom’s desire to create more platforms for its customers to have access to its wide range of products and services and give them more exciting experience on the network.
“As you are aware, our approach to customer service is underpinned by innovation and total inclusiveness.
This is why we are consistently seeking
innovative channels to make available our array of services to them”, Onuekwusi added.
According to him, the new centre is also equipped to stock exquisite and affordable devices, Smartphones and accessories. “We assure customers in Ogbomoso town and its environs of quick and satisfactory resolutions of all issues ranging from SIM replacement and registration to recovery of overscratched cards, refilling, unblocking of phones and laptop configurations for internet services, among other services,” he noted.
Globacom assured customers that its well-trained, polite and customerfriendly staff will be at the new shop to provide first-class services and attend to customers’ complaints as well as
service and product needs.
The Chairman, Ogbomoso South Local Government, Honourable Timothy Oyedokun, commended Globacom for always bringing relief to Nigerians in different ways. He also congratulated Globacom for being a Nigerian brand to be proud of.
“Since I have known Globacom, it has not changed its resolve to serve the people of this nation. This shows that the management holds the wellbeing of the people in high esteem”, he noted.
The Secretary to Ogbomoso North Local Government, Mrs.Olufunke Olaniyi, who represented the Chairman, Honourable George Gbadegesin Ogunlade, said Globacom is the best network in Nigeria.
supporting participatory governance and sustainable management of local territories, and the third one is revitalizing local economies and strengthening the Borno State.
“This initiative is aimed at uprooting from poverty and building resilience and self-reliance to over 500,000 people in the region.
“These efforts are the driving forces behind sustainable recovery and resilience in the targeted territories. Regionally, the program fully aligns with the Lake Basin Regional Strategy for the stabilization, recovery, and resilience, and more specifically, aligns with the specific countries and special development plans.
confirmed the election of Governor Okpebholo showcased the vibrancy of our democracy in Edo state,” Ikpea stated.
Noting that elections, by their nature, can be deeply divisive, stirring strong emotions and loyalties, Ikpea explained that now that the ballots have been counted, a winner declared, and the election petition tribunal has further confirmed Okpebholo as the winner, it is incumbent on Esan people to come together, set aside their differences, and focus on the collective good of the people.
“I wish to use this opportunity to congratulate our other son, Mr. Asue Ighodalo, for his gallant efforts in the electoral process and implore him at this stage, to throw in the towel, and support Governor Okpebholo in the governance of the state.
“The unity, stability and progress of Esanland and indeed, our dear Edo State, should be more important than anything else,” he added.
He thanked the people from other parts of Edo state, who stood together during the electoral process to support Esan candidates in the different parties they belonged to, out of which one has now emerged the winner on the platform of one of the parties.
“Your support and commitment to the unity of our state are the
bedrock of this achievement. I need to add, if we all unite and support the governor, he will have the power to bring about the much needed positive changes to Edo state. History will be kind to each and every one of us if we do so.
“I need to add that Governor Okpebholo has demonstrated clearly from the beginning that he is ready to work for Edo people. Everyone in the state can see the achievements he has recorded within a short time since he assumed office. Governance is a collective endeavour. The success of this administration hinges on our unwavering support, constructive criticism, and active participation as Edo people,” the businessman said. He appealed to everyone—irrespective of political affiliation, ethnicity, or past grievances, to rally behind Okpebholo, and provide him with the cooperation and encouragement needed to fulfill the promises of good governance, economic growth, infrastructural development, and a brighter future for all Edo citizens.
“To our dear Governor Okpebholo, we Esan people stand with you. We pledge our support, our counsel, and our prayers to you. We trust that you will lead with the fear of God, wisdom, fairness, and an unwavering commitment to the welfare of all Edo people,” he pointed out.
Attributes flooding to major construction on Lagos Island regeneration
The Lagos State Government on Wednesday commenced remedial measures by setting up a pumping station at Adeniji Adele Underbridge to pump out storm water in Aroloya Street, Ojo-Giwa, Binuyo, Oroyinyin and other areas in Lagos Island following the flooding of the areas due to ongoing constructions.
The choice of Adeniji Adele Underbridge for the pumping station was informed by the need not to disrupt the construction work already ongoing at the listed areas.
In a statement signed by the Commissioner for the Environment and Water Resources, Tokunbo Wahab, he said the measure will provide relief to the residents and business owners who have been affected.
He said the flooding was caused
by temporary blockage of the drains in the area as a result of the ongoing constructions which is part of the total regeneration of the Lagos Island. He appealed to the business owners and residents to please bear with the state government on a temporary basis as the construction which is part of the total regeneration progresses.
He explained that the construction will be completed in a very short time while urging stakeholders to contribute to the success of the project by properly disposing of their waste according to guidelines set by Lagos State Government
It should be noted that the state government has approved a total regeneration of Lagos Island; to
include improving and expanding the drainage infrastructures (Primary and Secondary Channels), constructing pumping stations with smart sensors for flood control According to Wahab, the project also includes promoting sustainable urban regeneration by reconstructing major roads within the area to address tidal challenges, and contractors are presently fully on site. In his words: “We appeal for the co-operation of the residents and business owners with the contractors. However, while efforts are being made to minimize inconveniences, occasional disruptions may occur. Everyone must however be rest assured that the welfare of Lagosians is paramount to the government.”
Muhammad Ali Pate; Executive Director, National Primary Healthcare Development Agency, Dr. Muyi Aina; Wife of the Vice President of Nigeria, Hajia Nana Shettima;
Lady of
Senator Oluremi Tinubu; Wife of the Taraba State Governor, Mrs. Agyin Kefas; and Governor of Taraba State, Dr. Agbu Kefas, watch as the First Lady presents 10,000 professional kits to midwives in the North East Geo-political Zone of Nigeria in Jalingo, Taraba State on Thursday, April 10, 2025
INAUGURATION OF GLOBACOM’S RETAIL OUTLET, GLOWORLD...
L–R: Regional Retail Sales Chief, Oyo Division, Globacom, Mr. Ikechukwu Onuekwusi; Secretary to Ogbomoso North Local Government, Mrs. Olufunke Olaniyi; Chairman, Ogbomoso South Local Government, Honourable
and Regional Acquisition Manager, Ibadan Region, Globacom, Mr. Moshood Oseni, at the inauguration of Globacom’s retail outlet, Gloworld, in
INEC: Final Decision on Delineation of Warri Wards Constituency Not Taken Yet
Ijaw storm commission, demand immediate implementation of Supreme Court order
Adedayo Akinwale in Abuja
The Independent National Electoral Commission (INEC),has said contrary to speculations, it was yet to take a final decision on the delineation of Wards in the Warri Federal Constituency.
INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun, in a statement appealed to all stakeholders in the constituency to refrain from engaging in any activity that could threaten the peace and security of the area
He said, “Our attention has been drawn to the misleading narratives about the proposed delineation of Wards in Warri North, Warri South and Warri South West Federal Constituency as ordered by the Supreme Court in its judgement delivered on 2nd December 2022.”
Olumekun said following the Supreme Court judgement, the Commission embarked on extensive consultations from February 2023 to July 2024 involving all the critical stakeholders, followed by fieldwork in all the communities in the three Local Government Areas culminating in the production of a draft report.
He added that the Commission held further consultation with stakeholders in Warri last week on Friday 4th April 2025, where copies of the draft report were presented to the representatives of each of the parties connected with the issue.
Olumekun, who stressed that the purpose was to give them the opportunity to raise any concerns they might have, noted that, “The overall objective was to arrive at an amicable agreement endorsed by all the parties involved.
“Therefore, contrary to the
speculations making the rounds, the Commission is yet to take a final decision on the delineation of Wards in the Warri Federal Constituency.
“We urge representatives of the various stakeholders to submit their observations on the draft report which will serve as the basis for further
engagement on the matter.”
Nevertheless, members of federal constituency, yesterday, stormed the headquarters of INEC in Abuja, where they demanded the immediate implementation of Supreme Court order.
The constituents, who were from
the Ijaw ethnic nationality in Warri, Delta state were armed with placards with various inscriptions like: “We appreciate INEC; Go and verify, INEC please complete supreme Court directive; INEC, thank you for yielding to the voice of the people,” among others.
Leader of the protesters, Chief David Reje commended the commission for committing itself to the rule of law and the principles of good governance. He also dismissed reports that all the stakeholders were not consulted before INEC kick-started the delineation.
Rivers: Tinubu, AGF Absent at Proceedings Challenging Choice of Sole Administrator
Alex Enumah in Abuja
President Bola Tinubu and the Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, were yesterday absent, when hearing in the suit challenging the appointment of Vice Admiral Ibok-Ete Ekwe Ibas, as Sole Administrator of Rivers State, came up.
Justice James Omotosho of the Federal High Court in Abuja, had last week fixed April 10, for hearing in the suit filed by an Abuja-based legal practitioner, Mr. Johnmary Jideobi. The plaintiff in the suit marked: FHC/ABJ/CS/572/2025, specifically asked the court to set-aside as void, “all actions and decisions made by Ibas in the name of Sole
Administrator of Rivers State, for “being unconstitutional, null and of no constitutional force throughout the Federal Republic of Nigeria for all purposes.”
He also prayed for another order of the court, restraining the 1st defendant (Tinubu, either by himself, his officers, agents, privies, servants or any other person acting under his command howsoever named, “from either removing, suspending or otherwise tampering with the tenure of the Governor and Deputy-Governor of Rivers State (and indeed any other State in Nigeria).”
However, when the matter came up for hearing yesterday, neither Tinubu nor the AGF was in court or represented.
Counsel to the plaintiff, Mr.
Idris Denies Dismissing Governor Zulum’s Concerns on Security Situation in Borno
Olawale Ajimotokan in Abuja
The Minister of Information and National Orientation, Mohammed Idris, has said at no time did he dismiss the alarm by Borno State Governor, Babagana Zulum, that the state was now losing grounds to terrorists.
In a terse remark, yesterday, he described as completely false the report that he asked that Zulum should be ignored over his security concerns.
“Kindly disregard the reports claiming that I did so. I urge all media platforms to be accurate and responsible in their reporting,” Idris said.
He reiterated what he said on Tuesday saying security was improving in many parts of the country,
even if acts of violence have not been completely eradicated.
He assured the people that security agencies were working round the clock to ensure that the situation in some parts of Borno State and other places were brought under control.
The minister said the Tinubu administration was committed to eradicating acts of banditry and terrorism across the country, noting that successes achieved by the security agencies in the last 18 months was an indication that indeed Nigeria was gradually returning to normalcy.
“The synergy we have seen in the operations of security agencies especially in the last two years and the massive investment in hardware and other equipment indicates the seriousness which the federal government attaches to this issue.
“Government calls on all, especially the subnational governments, to join hands to ensure rapid eradication of the remaining pockets of criminal elements wherever they may be,” he said.
Governor Zulum had raised the alarm about spike in security challenges at an expanded security meeting in Maiduguri on Tuesday.
At the meeting where he addressed stakeholders including the General Officer Commanding 7 Division, sector commanders; the commissioner of police and heads of other security agencies; the Shehu of Borno, Alhaji Abubakar Garbai Al-Amin Economic; the Shehu of Bama as well as the emirs of Biu, Uba, Askira and Gwoza, he voiced concern over the recent Boko Haram attacks on major military formations across the state.
Chimezie Enuka, informed the court that all the defendants in the matter, except Attorneys-General of Zamfara and Bauchi States, were duly served with both the originating processes and the hearing notice.
Subsequently and based on agreement by all the lawyers that appeared in the case, Justice Omotosho adjourned till June 11, for hearing.
The court has however ordered the service of fresh hearing notices on all the defendants.
Aside from President Tinubu, who was the 1st defendant in the matter, the AGF and Attorneys-General of the 36 States of the federation, were listed as 2nd to 39th defendants respectively.
Among the reliefs the plaintiff sought was an order of perpetual injunction, barring President Tinubu, “from appointing any Sole Administrator into any State Government House in the thirty (36) states of the Federation for any purpose whatsoever.”
In the Originating Summons he filed through a consortium of lawyers led by Mr. Enuka, the plaintiff urged the court to determine: “Whether in view of the combined provisions of the entirety of Sections 1, 5(2), 180, 188, 189, 305 and 306 of the 1999 Constitution of the Federal Republic of Nigeria as amended and their conflated interpretation, the President of the Federal Republic of Nigeria [1st Defendant herein] has any constitutional authority [whatsoever] to either remove, suspend or otherwise tamper with the tenure of the duly elected Governor and Deputy Governor of Rivers State [and indeed of any other State in Nigeria] and appoint a sole Administrator [or any other substitute howsoever called or described] such as the 3rd Defendant for that State?”
Upon the determination of the question, he prayed the court to declare that upon an intimate reading and complete understanding of the entirety of section 305 of the 1999 Constitution, as amended, there is
NO other circumstance contemplated by the Constitution for the removal OR interruption of the tenure of an elected Governor and Deputy Governor of a State EXCEPT the circumstances contemplated under Sections 180, 188, 189 and 306 of the 1999 Constitution of the Federal Republic of Nigeria as amended. Other reliefs he asked from the court was, “An order setting aside the suspension of the Governor and the Deputy-Governor of Rivers State of Nigeria by the 1st Defendant on March 18, 2025 for being unconstitutional, null and void and of no legal effect whatsoever.
“An order setting aside the nomination/appointment and swearing-in of Vice Admiral Ibokette Ibas (Rtd) as the Sole Administrator of Rivers State of Nigeria by the 1st Defendant.
“An order directing Vice Admiral Ibokette Ibas (Rtd) [the 3rd defendant herein] to vacate, forthwith, the Government House of Rivers State of Nigeria.”
APC Shuts National Secretariat over Death of Kidnapped Director
Adedayo
Akinwale in Abuja
The All Progressives Congress (APC), has shut its secretariat following the death of its Director of Administrative, Hon. Lateef Adeniji, who was kidnapped by bandits. Adeniji was reportedly kidnapped about two months ago in Abuja. Investigation revealed that the victim was killed despite payment of N50 million by the party. Further checks revealed that the
victim had already been killed by the bandits about a month ago before the party could muscle the said amount.
The party, in a memo dated 10th April, 2025, and signed by the Deputy Director Of Administration, Ubagba Abel, said the shutting down of activities at the Secretariat was to mourn the passing of Adeniji.
Titled: “Secretariat closure for the mourning of the director of administration”, the party advised
all the staff to use the period of mourning for sober reflection and prayers for the family and the loved ones.
“The National Secretary has approved the closure of the National secretariat from all party/work activities with immediate effect till Monday 14th April 2025.
“This decision was made after he had received the news of the sad demise of the Director of Administration Late Hon. AbdulRaif Adekunle Adeniji.”
Timothy Oyedokun;
Ogbomoso, Oyo State, on Tuesday
INAUGURATION OF 12MW LGS2 IT LOAD DATA CENTRE FACILITY...
L–R: Chief Executive Officer, Rack Centre, Lars Johannisson; Chief Operating Officer, Rack Centre, Ezekiel Egboye; Deputy Chief of Staff to the
Group, Maher Jarmakani; and Sales Director, Rack Centre, Folu Aderibigbe, cduring the official inauguration of the
FG, Edo, Kano Governments Set Up Fact-
finding C’ttee to Address Uromi Killings
Yusuf dispatches deputy, emir on mission
that
the federal government in conjunction with the state government, has set up a fact-finding committee to look into the circumstances surrounding the recent killings of
some 16 travellers in Uromi, Esan North East LGA of the Edo State.
Similarly, a delegation from Kano State Government led by the deputy governor, Aminu Abdulsalam
J.P MORGAN: DECLINE IN OIL PRICES WILL PUSH NIGERIA’S CURRENT ACCOUNT BALANCE INTO DEFICIT
the naira, and coordinated fiscal and monetary measures had all contributed to enhanced competitiveness and investor sentiment, the apex bank stated.
Responding to the economic feat, Governor of CBN, Mr. Olayemi Cardoso, said, “The positive turnaround in our external finances is evidence of effective policy implementation and our unwavering commitment to macroeconomic stability.
“This surplus marks an important step forward for Nigeria’s economy, benefiting investors, businesses, and everyday Nigerians alike.”
Relatedly, Fitch Ratings said yesterday that pressure from U.S. aid freezes and global trade tension was unlikely to result in wide-scale credit downgrades in Africa, due to the region’s export composition and weaker integration into global supply chains compared to a region such as Asia.
But Sub-Saharan Africa had been one of the largest recipients of funds disbursed by the United States Agency for International Development (USAID), which was frozen by Executive Order of U.S. President Donald Trump, a Reuters report stated.
South Africa, Namibia and Ivory Coast remained relatively shielded from recent events, Paul Gamble, head of Middle East/Africa in Fitch’s Sovereign Ratings Group, said.
Nigeria and the Seychelles both held positive credit outlooks from Fitch Ratings – an indication that a rating was expected to be raised in the future – thanks to ongoing reforms, Gamble told a webinar.
“The reforms that we’ve seen really put the region in a better position to absorb some of these shocks. The impact for the ratings looks manageable,” Gamble added.
However, the freeze on U.S. foreign aid was not without negative consequences, Fitch said. Some of the poorest nations were at risk of having projects come to an abrupt end and would see fiscal stability come under pressure. Ethiopia received U.S. assistance worth around 80 per cent of its foreign exchange reserves, with Mozambique, Uganda, and Lesotho
also seen at risk.
“African-owned multilateral banks might become more important institutions in this shifting landscape,” Arnaud Louis, senior director at Fitch, said on the webinar.
Gamble also pointed to Washington’s pivot to strategic investments in minerals in Africa as potentially becoming a new sphere for the trade tensions as it could intensify competition on the continent with China.
“Africa will be a playing field for US-China tensions,” said Gamble. The U.S. interest was becoming “more opportunistic, transactional”, focusing on access to minerals and rare earths rather than broad-based development, he said.
Meanwhile, Nigeria expected to exit the Financial Action Task Force’s gray list this year after passing a new investment law that will allow regulation of cryptocurrencies. The new Investment and Securities bill will pave the way for crypto operators to be legally monitored, and the Securities and Exchange Commission (SEC) hoped to grant full cryptocurrency exchange licenses within the next two years.
“I am 100 per cent hopeful” the nation will exit the Financial Action Task Force’s so-called gray list this year, SEC Director-General, Emomotimi Agama, told Bloomberg.
Nigeria had taken steps to fix shortcomings in its anti-money laundering and counter-terrorism finance monitoring identified by FATF when it placed the West African nation on the list in 2023. Another reason was the lack of legislation to cover the regulation of digital assets.
President Bola Tinubu last month signed a law that handed oversight of the industry to SEC. The new Investment and Securities bill will pave the way for crypto operators to be legally monitored.
Agama said he hoped to grant full cryptocurrency exchange licenses within the next two years. He said SEC was reviewing applications from Yellow Card Financial Inc. and others to join a so-called incubation process to put them on trial and watch.
He stated, “For us, it is a learning
process and the idea is to study, to observe what they do, how they do it and what are the risks involved.”
Agama added, “We are working to develop more people, train more people to build capacity for the regulation of digital assets.”
Nigeria’s youthful and digital-savvy population had adopted cryptocurrencies as a hedge against high inflation and the steep depreciation of the naira since mid-2023. Africa’s most populous country ranked second worldwide in an index of global cryptocurrency adoption calculated by blockchain analytics company, Chainalysis, in a 2024 report.
of Africa.”
Edun said, “Afreximbank’s trade and project financing initiatives positively impact trade and economic development across the African continent through activities centered on the bank’s main strategic pillars.
“Across the continent, Afreximbank has demonstrated partnership and collaboration with the public and private sectors.
“Afreximbank has been very compassionate in providing solutions to African Trade problems.
“Afreximbank serves the interests of the African continent and has continued to rigorously pursue the growth and integration of Caribbean countries to support their trade and economic development.”
On her part, Oduwole, also commended Oramah’s relentless pursuit of Africa’s trade renaissance, which had strengthen institutions, reshaped mindsets and inspired a generation.
She said the launch of the trade centre was more than just a new building but represented a clear step toward Africa taking greater control of its trade, both within the continent and globally.
Oduwole said Abuja AATC remained a “strategic nexus of finance, research, innovation, trade intelligence, and policy, exhibition center, SME and tech incubation hubs, and the
Gwarzo, announced that the state government had set up a a similar committee to screen and verify the names, numbers, next of kin and those who survived the attack.
It added that they had been able to carry out these activities and had come out with a report which they came to submit to Okpebholo.
The Edo State governor while receiving the Kano delegation at the Government House in Benin City, said President Bola Ahmed Tinubu was not happy about what happened in Uromi and was determined to ensure that the state and nation were safe for everybody to live and do business.
“This incident has opened our eyes and we are ready to address a lot of issues about the country and how to make life better for us all. The president is not happy with what has happened and he wants us to see to the end of this dastardly act.
“The President personally wants
digital trade gateway”
Oduwole said, “Afreximbank’s footprint in Nigeria is extensive. Over the last three decades, the bank has grown to become a consequential institution for the continent. In the last decade, it disbursed no less than $140 billion into the continent.
“Nigeria is the largest recipient of the bank’s trade and development finance; having attracted cumulative disbursements of about $52 billion, which has catalysed infrastructure, manufacturing, and export competitiveness across key sectors.”
In his remarks, Oramah said the AATC was envisioned to surmount some of the challenges to intra-Africa trade.
He warned that Nigeria, and Africa in general can’t continue to export raw materials, and import refined products in turn, stressing that value addition is the way to go.
However, he disclosed that the financing support to Nigeria had also helped to boost the oil refining capacity to about 1.2 million barrels per day and 7.5 million tonnes per annum of urea fertiliser production, up from under four million tonnes in 2019.
He said, “We expect urea capacity to rise to about 11 million tonnes by 2027, when Dangote Petrochemical company opens the new lines under development.
“These are remarkable and are contributing significantly to Nigeria’s
to see to the end of this issue. I want to also let you know that the President and Edo State Government have set up a committee to find out the remote cause(s) of the incident and put a lasting solution to the issue.
“This report you have submitted will actually help us so that we do not have to worry you. A lot will be done and made open to the public to know what the committee is doing on the issue.
“We are a peace-loving people in Edo State. We love those living with us in the State. Kano and Edo State have been collaborating in the area of commerce and industry,” he stated.
Also speaking, Gwarzo appreciated Okpebholo for his earlier visit to Kano.
He noted that the delegation was in Edo State to thank the governor for the peaceful steps he took when he came to Kano State in regard to the Uromi incident.
non-oil exports revenues.
“Cognisant of the critical role of the Nigerian creative sector in expanding job opportunities for the youth and women, Afreximbank is investing in growing the country’s creative sector.
“The Bank provides support through credit lines, capacity-building initiatives and market access opportunities.
Recently, the bank opened the dedicated 200 million facility to support the sector, under an ongoing partnership with the Federal Ministry of Culture and Creative Industry.
“These supports have helped Nigeria to boost the export of its creative content to the rest of Africa and the world, while boosting youth employment.”
He said, “Today, we mark the standing up of an edifice that defiantly roars: that we must re-shape our future; that we can no longer be hostages to a colonial legacy deeply rooted on ‘divide-and-conquer’ - a legacy that makes Africans to regard their colonisers as masters and brothers and sisters, as enemies, and even aliens.
“Step-by-step we will, on the success of this platform, build a network of Afreximbank African Trade Centres (AATCs) that would offer strong physical institutional infrastructure for deepening connections and exchange of information among Africans and the Caribbean and indeed the wider African Diaspora.”
“The Governor of Kano State set up a Committee to screen and verify, to establish the names, numbers, next of kin and those who survived the attack. We have been able to carry out these activities and we have come out with a report which we are here to submit to your Excellency.
“You promised us that justice will be done and we believe you on this Mr. Governor. We need a transparent process on this issue. Sixteen persons lost their dear lives from five local government areas of Kano State,” he explained. Present during the visit were the deputy governor of Edo State, Dennis Idahosa; Speaker Edo State House of Assembly, Rt. Hon Blessing Agbebaku; security heads in the State, senior government officials, both from Kano and Edo State, among others. Okpebholo and the delegation from Kano also visited Uromi, where they met with members of the Hausa Community in the area.
He said, “Today, we open AATC Abuja. In August, we expect to open AATC Harare, and in 2026, we expect to open AATC Kampala. In a few months, we would break ground for AATC Cairo and AATC Yaoundé and others.
*Step-by-Step, Afreximbank African trade centres would rise into the blue skies across Africa and in Barbados in the Caribbean, flying the banner that would embolden every African and restore the pride and dignity of our people.”
According to him, the Abuja AATC is the first of several AATCs being developed across Africa and the Caribbean, pointed out that some would be Afreximbank owned while others would be supported through a franchise-scheme.
He said, “With these, we expect to create a sizeable network of AATCs that will act as the lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between Africa and Caribbean regions.
“This particular AATC Abuja has been a 41-month journey, one built on hope and determination. Like the other AATCs, the Abuja AATC would serve a multi-purpose goal. It will serve as a platform for fostering deeper regional and continental integration and house Afreximbank’s permanent regional office, bringing a three-decade-old aspiration to fruition.”
Lagos State Governor, Sam Egube; Chairman, Jagal
12MW LGS2 IT Load Data Centre facility in Lagos, yesterday
Adibe Emenyonu in Benin City and Ahmad Sorondinki in Kano Edo State Governor, Senator Monday Okpebholo, yesterday, disclosed
TINUBU HAILS AFREXIMBANK’S ROLE IN BREAKING AFRICA’S TRADE, FINANCING BARRIERS
New CP Reads Riot Act to Criminals in Kwara
Hammed Shittu in Ilorin
The new Kwara State Police Commissioner, Mr. Adekemi Ojo, yesterday warned criminals to relocate from the state or meet their waterloo henceforth.
Speaking with journalists in Ilorin yesterday during his maiden media press briefing, Mr. Ojo said that: “Men of the state Police Command are now poised more than before to tackle any crimes from any quarter across the 16 local government councils of Kwara State.”
According to him, “As your new Commissioner of Police, I
am dedicated to strengthening the security architecture of Kwara State, and ensuring that all residents can live and work in an atmosphere of peace and safety.
“Kwara State holds a special place in my heart, and I am committed to ensuring that it remains a peaceful, secure, and prosperous state.
“Known for its unity, cultural, diversity, and strategic position as the gateway between the northern and southern parts of Nigeria, Kwara State is poised for continued growth.
“However, such growth can only thrive in an environment
of security, and that is where my focus will be.
“We will continue to uphold the principles of community policing, which have proven to be highly effective in maintaining peace and security.
“Our approach will involve working closely with vigilante groups, traditional institutions, civil society organisations, and all well-meaning individuals to ensure that Kwara State remains free from criminality.
“I want to assure the good people of Kwara State that we will not relent in our fight against crime and criminality. There will be no sanctuary for criminals in this state.
Wike Berates Ada George for Playing Ostrich over Rivers Crises
Olawale Ajimotokan in Abuja
The Senior Special Assistant on Public Communications and Social Media to vFCT Minister, Nyesom Wike, Lere Olayinka, has accused a former Governor of Rivers State, Ada George and some elders of playing Ostrich when the suspended Governor Siminalayi Fubara was acting like an emperor.
He accused George and some of the elders of now speaking like children who lost their most priced toys.
In statement issued yesterday, Olayinka said George was among those backing Fubara, when the latter blocked the salary and other entitlements of members of the
State House of Assembly. He said it was unfortunate that he is now raising his voice on who should be blamed for the state of emergency imposed on the State.
During a media briefing, Ada George, had accused the FCT Minister of orchestrating the ongoing political crisis in Rivers State, including the imposition of a state of emergency and the appointment of sole administrators in all 23 local government areas.
Wike’s spokesperson, blasted Ada George, saying people like
him lacked what it takes to be called an elder.
He said: “Unlike these people masquerading as ‘Rivers Elders and Leaders Forum’, genuine elders sit in position of neutrality when there are conflicts among younger ones so that they will enjoy credibility and respect while sitting on the high table to resolve the issues.
“When Fubara was orchestrating the burning and demolition of the Rivers State House of Assembly, supposed elders like Ada George were hailing him.”
SSE Lab Launches MBA Programme for Entrepreneurs
The Founder and Chief Executive Officer of Small-Scale Enterprise (SSE Lab), Adesola Jimmy-Eboma, has launched the Manufacturing Business Accelerator (MBA) Programme Cohort 2 to support aspiring and emerging African entrepreneurs across Nigeria and beyond.
The MBA programme, which stands as one of the flagship initiatives of the SSE Lab will commence on Sunday, April 20, 2025, while the virtual welcome will take place on April 13, 2025.
The programme is a 12-week virtual course and will conclude with the second MBA Business Shower on July 17, 2025.
Highlighting the expectation from the MBA Programme Cohort 2, Jimmy-Eboma said: “The next cohort will focus on practical execution, ensuring every participant graduates with a fully developed product, clear marketing and business strategies, and a well-documented business
plan.”
“The programme curriculum spans a comprehensive range of topics that guide participants from concept development to final product launch. Weekly modules cover product design and prototyping, market research, business planning, branding and packaging, legal and regulatory compliance, sales and distribution strategy, financial planning, and sustainability.
“The format includes live expert sessions, downloadable workbooks, guided assignments, a Learning Management System (LMS), and one-on-one coaching to provide tailored feedback and accountability. The MBA program was created to close the execution gap between idea and action by offering a structured learning experience that equips entrepreneurs with the clarity, confidence, and practical tools needed to launch, package, and scale their businesses within three months.”
Shettima, Sanwo-Olu, Others for NACC Presidential Gala
Lagos is set to host a major gathering of political and business leaders as the Nigerian-American Chamber of Commerce (NACC) celebrates its 65th anniversary and inaugurates its 20th president, Alhaji Sheriff Balogun, on April 12, 2025.
The high-profile event will take place in Lagos with the theme:“The Power of CoOperation: 65 Years of Optimising Nigerian-American Economic Relations.”
According to a statement, the landmark gala will reflect on the chamber’s role in promoting bilateral trade and investment relations between Nigeria and the United States.
The celebration will also feature the unveiling of the proposed NACC multi-storey headquarters building and the induction of 52 new members into the Chamber.
NACC, in the statement, said:“Governor Babajide SanwoOlu of Lagos State will serve as the chief host of the day and will also be honoured alongside other notable personalities, including Rt. Hon. Tajudeen Abbas, Senator Barau Jibrin, Governor Uba Sani, Governor Dauda Lawal, Governor Umo Eno, Dr. Jumoke Oduwole, Hon. Hannatu Musa Musawa, Dr. Akinwumi Adesina, and Dr. John Momoh, among others.”
“Distinguished individuals and brands will be recognised for their contributions to the Nigerian-American business community. Among the awardees are His Excellency Americo D’Oliveira Dos Ramos, Prime Minister of the Democratic Republic of São Tomé and Príncipe, Aare Afe Babalola, Chief Michael Ade-Ojo, Prince Arthur Eze, and Chief Pius Akinyelure.”
Trustworthiness is the Trait of the Elite WORLD OF ISLAM
All praise be to Allah, and peace and blessings be upon the Seal of Allah’s Messengers and his family, Companions, and those who followed his guidance. Trustworthiness is a characteristic of the elite, from Allah’s Prophets and Messengers, and those who followed their path from the righteous and the faithful people. Contemplate when the king of Egypt said to Prophet Yusuf (Joseph, peace be upon him), “Indeed, you are today established [in position] and trusted.” (Quran 12: 54) Moreover, the daughter of the righteous man said to her father about Prophet Musa (Moses, peace be upon him), “O my father, hire him. Indeed, the best one you can hire is the strong and the trustworthy.” (Quran 28: 26)
As for the Seal of the Messengers, Muhammad (sallallahu ‘alayhi wa sallam), he was called the trustworthy person even before being a prophet. When they built the Ka’bah and reached the location of the Black Stone, they disagreed about who would win this honor of putting it in its place until they almost fought. Then, they agreed that the first one to enter would judge among them. The one who entered was the Messenger of Allah (sallallahu ‘alayhi wa sallam) before his mission. When they saw him, they said, “This is the trustworthy one, we are satisfied. This is Muhammad.” Because of the Prophet’s trustworthiness, the people of Makkah used to keep their precious items with him as a trust. He (sallallahu ‘alayhi wa sallam) kept their trusts to the point that when he wanted to emigrate and the people of Quraysh had agreed to kill him, he ordered `Ali ibn Abi Talib to sleep in his bed to return the trusts to their owners, assuring him that he would not be harmed. Due to his trustworthiness, the Mother of the Believers, Khadijah (may Allah be pleased with her) proposed to marry him. Moreover, when Allah granted His Messenger victory during the conquest of Makkah and he (sallallahu ‘alayhi wa sallam) circumambulated around the Ka’bah, he took the key of the Ka`bah from `Uthman ibn Talhah and entered the Ka`bah. When he came out, he gave the key back to `Uthman and refused to give it to some of his (the Prophet’s) relatives when they asked for it. When he borrowed dates from a Bedouin and the Bedouin came to get his due right, he spoke harshly to the Prophet, saying, “I will make things difficult for you unless you repay me.” The Companions rebuked the man and said, “Woe to you, do not you know who you are speaking to?”
He said, “I am only asking for my rights.” The Prophet (sallallahu ‘alayhi wa sallam) said, “Why do not you support the one who has a right?”
Then, he sent word to Khawlah bint Qays, saying to her, “If you have dates, lend them to us until our dates come, then we will pay you back.” She said, “Yes, may my father be ransomed for you, O Messenger of Allah!” So, she gave him a loan, and he paid back the Bedouin and fed him. He (the Bedouin) said, “You have paid me in full, may Allah, the Almighty, pay you in full.” He (sallallahu ‘alayhi wa sallam) said, “Those are the best of people. May that nation not be cleansed (of sin) among whom the weak cannot get their rights without trouble.”
It has been proven that he (sallallahu ‘alayhi wa sallam) used to supplicate with this supplication, “I seek refuge in You from betrayal, for it is an evil inner trait.” It is trustworthiness that Allah, the Almighty, commanded His servants to have and forbade them from betraying. He, the Almighty, says, “O you who have believed, do not betray Allah and the Messenger or betray your trusts while you know [the consequence].” (Quran 8: 27) Allah also said, “And if one of you entrusts another, then let him who is entrusted discharge his trust [faithfully] and let him fear Allah, his Lord.” (Quran 2: 283)
It is trustworthiness that the Messenger of Allah (sallallahu ‘alayhi wa sallam) commanded
us to fulfill when he said, “Fulfill the trust of the one who entrusted you, and do not betray the one who betrayed you.” Moreover, Allah, the Almighty, praised the one who possessed this trait and promised him great rewards and bounties. He, the Exalted, says, “Certainly will the believers have succeeded…..And they who are to their trusts and their promises attentive.” Then, He points out their reward in His saying, “Who will inherit al-Firdaus. They will abide therein eternally.” (Quran 23: 1-11)
There is a close relationship between trustworthiness and faith. This is why the Messenger of Allah (sallallahu ‘alayhi wa sallam) said, “He who has no trustworthiness has no faith.” Another Hadith stated, “The Muslim is he from whose tongue and hand the Muslims are safe, and the believer is he whom people trust with their lives and their property.” He also counted the loss of trustworthiness as a sign of hypocrisy. He (sallallahu ‘alayhi wa sallam) said, “The signs of a hypocrite are three: when he speaks, he lies; when he makes a promise, he breaks it; and when he is entrusted, he betrays.”
If the Sirat is a bridge laid over Hell, the Messenger of Allah (sallallahu ‘alayhi wa sallam) said, “Trustworthiness and kinship will be sent forth and will stand on both sides of the Sirat, right and left.” Trustworthiness and kinship, due to their great significance and the huge obligation of observing their rights by mankind, will be stopped there for the trustworthy and the traitor, the one who maintains ties of kinship and the one who severs them. Thus, they will argue on behalf of the righteous and bear witness against the wrongdoers.
The loss of trustworthiness is one of the signs of the Hour. The Prophet (sallallahu ‘alayhi wa sallam) said, “When trustworthiness is lost, then wait for the last Hour.”
Trustworthiness is one of the main components of all acts of worship and transactions. The servant is entrusted with his prayers, purification, and all acts of worship, and he is entrusted with the rights of other servants. Any fraud in dealing with people or violating their rights and eating up their property unjustly is a loss of trust. Betrayal of trustworthiness will be a disgrace on the Day of Resurrection, with which the servant will be disgraced before creatures, as indicated by the statement of the Prophet (sallallahu ‘alayhi wa sallam), “Every traitor will have a banner raised for him on the Day of Resurrection, according to the extent of his treachery.” What disgrace is that! Betraying trustworthiness brings disgrace and regret to the trait or on the Day of Judgment. Muslim reported on the authority of Abu Dharr (may Allah be pleased with him) that he said: “I said to the Messenger of Allah (sallallahu ‘alayhi wa sallam), ‘Why do not you appoint me to an (official) position?’ He (sallallahu ‘alayhi wa sallam) patted me on the shoulder with his hand and said, ‘O Abu Dharr, you are a weak man and it is a trust and it will be a cause of disgrace and remorse on the Day of Resurrection except for the one who takes it up with a full sense of responsibility and fulfills what is entrusted to him (discharges its obligations efficiently).’”
`Umar (may Allah be pleased with him) said, “Do not be deceived by a person’s prayer or fasting. The true believer is the one when he speaks, he says the truth, and when he is entrusted with something, he fulfills it.”
Ibn `Abbas (may Allah be pleased with them both) said, “Allah did not permit the insolvent or the solvent to refrain from paying back trusts.”
So, beloved, you should be as the poet put it: I guard the trust, I do not betray it
For the traitor takes the most difficult path. O Allah, we seek refuge in You against treachery for it is the worst hidden trait a person may have. May Allah’s peace and blessings be upon His Servant and Messenger Muhammad. All praise be to Allah, the Lord of the world.
Super Eagles to Battle Jamaica, Ghana and Trinidad for Unity Cup 2025
Olawale Ajimotokan in Abuja
Super Eagles have been confirmed for this year’s Unity Cup Invitational Tournament involving Nigeria, Jamaica, Ghana and Trinidad & Tobago scheduled to hold at the 17,250-capacity Gtech Community Stadium in Brentford, West London in the last days of May 2025.
Rotimi Pedro, of AfroSport, confirmed yesterday that: “We are proud to bring back The Unity Cup.
It’s been a long journey to revive this important community event, and we’re delighted that fans of African and Caribbean football will once again enjoy top-tier international football at Unity Cup 2025.
“We are grateful to Brentford FC for providing a home at the Gtech Community Stadium and look forward to what, even after 20 years, remains a cultural moment for many who attended previous Unity Cup tournaments.
Madueke’s Brace Lifts Chelsea into Comfort Zone in Warsaw
EUROPA CONFERENCE
Substitute Noni Madueke scored twice as Chelsea defeated Legia Warsaw 3-0 to take control of their Europa Conference League quarter-final.
Enzo Maresca’s side, the favourites to win the competition, went ahead four minutes into the second half of the first leg in Poland when George reacted quickest to convert the rebound after Reece James’ effort had been parried.
The 19-year-old winger has represented England at under-19s level and is yet to start a Premier League match, although he has featured 10 times for Chelsea in this European campaign.
Substitute Madueke then added a second goal in the 57th minute with a low finish after good work from Jadon Sancho to take the tie away from Legia. Chelsea missed a 73rd-minute penalty as Christopher Nkunku’s spot-kick was saved by Kacper Tobiasz, although the keeper was beaten again shortly afterwards with Madueke finishing off Sancho’s low cross for his second of the night.
The second leg takes place at Stamford Bridge on Thursday, 17 April with the overall winners meeting either Swedish side Djurgardens or Rapid Vienna in the semi-finals.
Taraba Triumphs at BetKing 3×3 National Wheelchair Basketball
Taraba State’s men and women’s teams clinched the ultimate titles at the BetKing 3×3 National Wheelchair Basketball Championship, which concluded yesterday at the Indoor Sports Hall in Abeokuta, Ogun State.
The high-octane finale left spectators thrilled as Team Taraba dominated both the men’s and women’s categories, showcasing extraordinary resilience and talent. Oyo and Delta followed in the men’s rankings, while Delta and Lagos completed the podium in the women’s division.
“At BetKing, we believe that sports should be accessible to all. We are particularly proud to support paraathletes who continue to inspire us with their strength and determination,” said Managing Director of BetKing, Gossy Ukanwoke.
In the Mixed Doubles, Team Lagos stunned fans with their unity and skill to take home gold, ending Taraba’s streak, who settled for silver. Oyo wrapped up with a commendable third-place finish.
This year’s tournament featured teams from across all zones of the country, a testament to the growing appeal and competitive spirit of wheelchair basketball in Nigeria.
For BetKing, the championship is more than just a sporting event—it is a platform for inclusion, empowerment, and opportunity. Ukanwoke added: “Wheelchair basketball, and para-sports in general, hold a special place in our CSR focus. We’re proud to champion inclusivity and ensure that no athlete, regardless of their circumstances, is left behind.
Power Meets Resilience as Azeez Battles Oyakojo at GOtv Boxing Night 33
The stage is set for an electrifying national super featherweight contest as Lateef “Captain” Azeez squares off against Sodiq “Golden Boy” Oyakojo in what promises to be a defining battle at GOtv Boxing Night 33. The fight, scheduled for eight rounds, will be a crucial test for both boxers, each seeking to assert dominance in the division.
Azeez, a hard-hitting fighter with an impressive 80% knockout rate, has made a strong statement since turning professional in 2023. With 8 wins, 1 loss, and 1 draw, he has built a reputation for ending fights early, thanks to his explosive power. His opponent, Oyakojo, brings a wealth of experience, having fought 13 times since 2022 with 8 wins, 3 losses, and 2 draws. Known for his resilience
and tactical approach, Oyakojo has the tools to frustrate Azeez and turn the contest into a drawn-out battle.
This bout represents more than just another fight. It is a collision of styles and ambitions. For Azeez, victory would further cement his reputation as one of Nigeria’s most promising super featherweights.
Meanwhile, Oyakojo sees this fight as an opportunity to remind fans and analysts why he belongs among the country’s elite fighters.
Beyond this anticipated showdown, GOtv Boxing Night 33 will also feature several other exciting matchups, including a 10-round international lightweight challenge between Ghana’s Emmanuel Otoo and Nigeria’s Tosin “Sojar Boy” Osaigbovo.
Pedro described the Unity Cup 2025 as “a week-long celebration of our interconnected culture in food, music and comedy anchored around elite footballing talents from our home nations.”
According to the schedule of the tournament, play will kick off with the first semi-final on Tuesday, 27th May as Trinidad & Tobago tackle Jamaica in the first-ever ‘Trini-Jam’ on UK soil.
“The following day, three-time African champions Nigeria will take on four-time African champions
Ghana in the second semi-final, which will come with all the intrigues and elements of a 74-year rivalry between the two continental giants.”
All four teams will return on Saturday, 31st May for the grand finale, with the losers of the semi-final fixtures featuring in the third-place game, before the Final to determine The Unity Cup 2025 champions.
President of NFF, Ibrahim Musa Gusau, said: “We signed on to the tournament as it offers a vital opportunity for our team to bond ahead of the FIFA World Cup qualifiers
in September. The Unity Cup has a special history, and the Super Eagles have always been part of that journey.”
While Super Eagles’ Head Coach, Eric Chelle, noted that “we’re looking forward to taking part in the Unity Cup as it will give us the chance to try out a few new players in different roles, helping us to strengthen our squad before the matches in September and October.”
Team Captain, William TroostEkong, said: “This is a great tournament for us to reunite and continue strategizing for the upcoming World
Okon-George, Nathaniel Dominate
Bada, Win Sprint Titles in Lagos
Day 2 of the MTN CHAMPS Continental Relays in Lagos maintained the high-energy and electrifying performances of the previous day, with numerous medals won across various categories at the Yabatech and Unilag Sports Complexes.
Six-time national women’s 400m champion, Patience OkonGeorge, cruised to victory in the women’s 400m, extending her dominance from the previous day with a strong Season’s Best (SB) of 52.67s. She finished ahead of Team MTN’s Miracle DonaldUwem (55.10s) and Pemisire Adepoju Adedoyin (56.29s).
Former national champion, Samson Nathaniel, claimed victory in the men’s 400m, crossing the line in 46.71s. Team MTN’s Benjamin Magaji matched his Personal Best (PB) of 48.04s to secure second, while Deji Sholotan finished third in 48.31s.
As anticipated, Favour Ashe blazed to victory in the men’s 100m, clocking 10.28s ahead of Chidera Ezeakor (10.38s) and Thankgod Igube (10.49s).
Iyanoluwa Bada secured the women’s title with a marginal wind-aided time of 11.30s (+2.6m/s), while FloreJulie Krakre and Janet Adesiyan finished 2nd and 3rd in 11.86s and 11.90s, respectively.
In the junior category, John Caleb extended his unbeaten streak, claiming the men’s 100m title with a time of 10.45s. Qudus Akintoye followed in 10.65s, while Abdulrahman Jimoh secured 3rd place in 10.75s.
Team MTN’s Lucy Nwankwo dipped under 12 seconds for the first time, leading a Team MTN sweep in the junior women’s
100m final. She set a new lifetime best of 11.99s, finishing ahead of Mercy Ogbonna (12.16s) and Azeezat Muhammed Raji (12.18s), with all three improving on their personal bests from the semifinals.
Hamid Sambo was the man to beat in the 1500m, returning a time of 3.59.12 while Ronke Akanbi won the women’s event. Rukevwe Godsgift Nwagbowu caused an upset in the men’s Long Jump, dethroning favorite Ibukun Daramola with a winning leap of 7.47m. Daramola recorded 7.39m in his final attempt to place second, while Jeffrey Miracle secured third spot with 7.25m.
In the women’s Long Jump, Mary Adeniran set a new PB of 6.14m to clinch the title. Glory Jarrett and Precious Okoronkwo followed second and third respectively.
16 Teams for Seyi Tinubu Citizens Cup Football Tournament in Kwara
Hammed Shittu in Ilorin
Sixteen football teams across the 16 local government councils areas of Kwara State have signified their intentions to participate in the forthcoming Seyi Tinubu Citizens Cup Football competition in the state.
The competition will hold between April 12 to April 19, 2025, in Ilorin, the state capital.
The competition, according to THISDAY checks, would also allow the organisers to tap talented footballers from the grassroots and engage youths away from social vices in the society.
The Head of the Organizing Team of the event, Mr. Aliyu Olamilekan Bello, who stated this at a news
conference in Ilorin yesterday said that, “Players between the ages 18 and 25 years will participate in the seven-day competition, which is also a scouting platform starting from April 12th. The competition format is purely on knock-out basis.
He commended the State Governor, Mallam AbdulRahman AbdulRazaq for his support and commitment to sports and youth development, describing it as a lifeline for the youth, and a way of building Kwara that strives, not just survive. Bello equally commended Seyi Tinubu for providing what he said, wasn’t just a football tournament, but a platform, a stage for young Nigerians to rise. He also thanked Otega Ogra for the opportunity.
MTN CHAMPS
Cup qualifying games.” Marcus Gayle, Brentford FC ambassador and former Jamaican international, said: “We’re thrilled to welcome the Unity Cup back and to host it here at the Gtech Community Stadium. This tournament will not only showcase elite football talent from Africa and the Caribbean, but also celebrate the deep cultural and sporting ties between these regions. It’s a brilliant platform for players to shine, and we’re excited about the entertainment and community spirit the tournament brings.”
Super Eagles will have the chance to bond again in the Unity Cup 2025 ahead of their remaining games in the 2026 World Cup qualifiers
Iyanuoluwa Bada secured the women’s title 100m title with a marginal wind-aided time of 11.30s (+2.6m/s) at the ongoing MTN Champs in Lagos...yesterday
MISSILE
Dave Umahi to Ifeoma Okengwu
“There’s one Mrs. Ifeoma Okengwu who goes to African restaurants in America and pays people little sums of money, saying she invested $250 million. If she collected the $250 million, those who paid to her should hold her responsible, as nothing has been done on the land. Just a gatehouse”—WorksMinistertoreal estatedeveloperwhoisaccusinghimofillegaldiversionofthecontroversialCoastal RoadalignmentintoherWinhomespropertyprojectinAjah,Lagos.
PETER MBAH GUEST COLUMNIST
Africa: The Compelling Imperatives of Integration and Intra-continental Trade
Your Excellencies, Distinguished Guests.
The discussions in this session have been quite enriching. Our profound thanks to the speakers and the panelists for their incisive analysis.
These analyses have lent insightful perspectives to the discourse regarding how Africa can leverage the potential in its 1.3 billion population to boost trade and investment. Such a large population, plus Africa’s combined GDP of $3.4 trillion and the fact that the continent has 65 per cent of the world’s uncultivated arable land, means that Africa should actually be building the table – and not waiting to be invited to the table.
But one of the challenges lies in translating Africa’s remarkable potential into real economic development that benefits the continent’s people. The big question has always been how that can be achieved. One of the solutions lies in fully exploiting the power of trade, particularly intra-Africa trade. It would seem this was what the African Continental Free Trade Area, AfCFTA came to fill. Indeed, the need for integration and trade facilitation has never been more compelling than now, given all the existential crises we are experiencing.
The World Bank estimates that AfCFTA could lift 30 million people out of extreme poverty, raise incomes for 68 million people, and boost Africa’s income by $450 billion by 2035. That is about 10 years from now. But another big question is the extent to which AfCFTA’s key objectives, such as removal of tariffs and non-tariff barriers have been actualised. The answer leaves much to be desired. Rhetoric has not been matched with necessary action. The result is that the economic benefits that African economies would have reached from improved intertrade remains a dream defied.
How can it be explained that despite its vast arable land, Africa still spends $40bn on food imports, annually? Now, imagine what difference such a substantial sum could have had on African economies if they were generated by intra-continental trade.
The dream of a continent-wide common market remains as yet elusive. Despite our frameworks, deep-rooted structural barriers still exist: Only 14.4% of Africa’s trade is intra-African, compared to 69% in Europe and 59% in Asia. Just 7% of Africa’s trade moves by air, yet we still face the highest intra-continental flight costs in the world. Over 70% of goods are transported by road — but poor road infrastructure and
border bottlenecks cost us over $4 billion annually in lost trade.
Furthermore, maritime transport is underutilised. Only one in ten African countries has a major port efficiently connected to inland markets. Only 1 in 10 African countries has a major port efficiently connected to inland markets. Rail systems – our most cost-effective bulk trade option — remain disconnected or outdated across most of the continent. These statistics are dismal, especially given that it is nearly a decade since the signing of the AfCFTA.
But it is not all doom and gloom. Europe’s long walk to the European Union offers some inspiration, given the many barriers it faced. It took the European Union over 35 years — from the Treaty of Rome in 1957 to the launch of the Single Market in 1993 — to fully realise a space where goods, services, capital, and people could move freely. They did not just talk integration — they backed it with laws, infrastructure, and political commitment. The Schengen Agreement, which came later, made it possible to travel across most European countries without a passport. The EU’s common legal and regulatory framework ensures that a product approved in one country can move freely across all others — without new checks or taxes. It was not instant — but it was intentional.
Africa can learn from this. We do not
need to reinvent the wheel — we just need to align ours. If Europe could do it with dozens of languages, diverse economies, and a history of divisions, then AfCFTA as its compass, Africa has every reason to succeed.
However, we cannot talk about building a common market when we are not yet connected — physically or digitally. So, the question is not what is wrong, but what must be done. First, consolidation is key. We need more than political will. We need a unified legal and regulatory framework — one that harmonises trade rules, streamlines procedures, and builds confidence for businesses across borders.
Second, investment in the enablers is critical. The growth engines of African trade are not abstract: they are transport corridors, smart ports, cross-border rail, digital payments, efficient customs, and unified standards.
Africa’s youthful population may be a unique demographic advantage in a world where many other continents contend with aging populations. But it could still prove to be a social tinderbox if not carefully harnessed. Nurturing Africa’s human capital should be seen as an imperative because it is every nation’s true wealth. No nation ever rises above the sheer capacity of its human capital. So, it goes without saying that growing our human capital will necessarily
entail fixing our education system. Only when we sufficiently train our youths can they be truly considered as the future of world labour. This is a development imperative. That brings me to a challenge and a call to action. AfCFTA is not a feel-good creation. Neither should it be subsumed by a regional block. It is for all of us. Let us not allow regionalism to become a barrier to panAfrican growth. Let us unite our markets, our ports, our rails, and our ambitions.
To global partners: Africa is a force — in fintech, agriculture, logistics, green energy, and more. While much of the world is aging, Africa is getting younger. By 2030, over 40% of the world’s youth will be African. That is not just statistics — that is a competitive advantage.
So, the message deductible from the discussions this afternoon is that Africa’s economic renaissance lies in extensive trade – not aid or charity.
Africa is ready. Let us turn frameworks into highways; Let us turn policies into power; Let us turn potential into performance. The time is now. And the opportunity is massive. And Africa is moving.
Thank you.
L-R: CEO of the Commonwealth Enterprise and and Investment Council, Mrs. Rosie Glazebrook; President of Zanzibar, Dr. Hussain Ali Mwinyi; First Lady of Zanzibar, Mrs. Mariam Mwinyi; Governor of Lagos State, Mr. Babajide Sanwo-Olu and the Governor of Enugu State, Dr. Peter Mbah, during the just concluded 2025 Commonwealth Trade and Investment Summit in London
