Cardoso: Naira’s Recovery Attracting Foreign Investors
Says inflation could have reached 42.81% by Dec. 2024 without CBN interventions, disinflation within reach, Bagudu hails synergy between fiscal, monetary authorities Adedeji: FIRS generated historic N21.6tn in 2024, eyes N25.2tn in 2025 Sets key deliverables for departments, says era of unproductiveness over
Ceremony at the NGX in Lagos…yesterday
UNVEILING OF THE GENDER INCLUSION CONFERENCE...
L-R: Managing Director of United Bank for Africa(UBA), Oliver Alawuba; Vice President Kashim Shettima and the Minister of Women Affairs and Social Development, Mrs.
the unveiling of the Gender Inclusion Conference held at the Conference Centre of the Presidential Villa, Abuja
FG Targets $23.2 Billion Investment to Resolve Nigeria's Electricity Challenges
Eyes $15.5 billion private sector spending
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
The federal government has set a target of $23.2 billion aimed at transforming Nigeria's energy sector, with $15.5 billion expected to come from the private sector to drive last mile electrification.
A statement issued in Abuja yesterday by Bolaji Tunji, spokesman to the Minister of Power, Chief Adebayo Adelabu, said that this was a spin-off of the just-concluded Mission 300 Africa Energy Summit recently held in Dar es Salam, Tanzania.
The two-day summit which brought together African leaders, business executives, and development partners to advance the continent’s ambitious energy agenda was hosted by the government of Tanzania, the African Union (AU), the African Development Bank (AfDB) Group, and the World Bank Group. The summit aimed to accelerate electricity access for 300 million Africans by 2030.
Through the energy access programme, tagged National Energy Compact (NEC), the Nigerian government said it aims to increase electricity access from 4 per cent to 9 per cent annually to close the energy gap.
Part of the expected funding is also intended to boost access to clean cooking solutions from 22 per cent to
25 per cent annually, expand renewable energy’s share in the power generation mix from 22 per cent to 50 per cent, and mobilise $15.5 billion in private investment.
The efforts, according to the statement, align with the United Nation’s Sustainable Development Goal 7 (SDG7), which seeks to ensure universal access to modern energy services.
Adelabu said that if achieved, the funding will help expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians.
“With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030”, Adelabu said.
He noted that while the roadmap for expansion was clear, challenges such as vandalism of power infrastructure pose a significant threat to Nigeria’s electrification efforts.
“Transmission towers, pipelines, and distribution equipment have been targeted, disrupting supply and deterring potential investors,” he lamented.
The minister emphasised that protecting power assets was crucial to ensuring uninterrupted electricity supply and sustaining progress, adding that the government was intensifying efforts to curb vandalism
through enhanced security, stricter penalties, and improved surveillance technologies.
According to him, achieving Nigeria’s electrification targets requires significant investment, and the government is prioritising private sector participation to unlock additional resources.
“The compact outlines a $23.2 billion investment target, with $15.5 billion expected from private investors. These funds will be directed toward expanding power generation, strengthening transmission and distribution networks, and integrating distributed renewable energy solutions,” he said.
Recognising that achieving
universal energy access demands collective action, the government called on development partners, philanthropists, and the private sector to join the transformative journey.
“By implementing the action plan in the National Energy Compact, Nigeria is positioning itself as a leader in Africa’s energy transition and creating
opportunities for economic growth, job creation, and industrialisation.
“As the Mission 300 initiative gains momentum, Nigeria’s strong commitment to energy sector reforms, infrastructure expansion, and investment mobilisation will be crucial in shaping the future of electricity access across the continent,” he added.
FG: Why Ajaokuta Steel Will Undergo Another Audit Despite 3 Previous Ones
Says estimated $2 billion needed to revamp plant
Emmanuel Addeh in Abuja
The federal government has defended its decision to carry out another audit of the Ajaokuta Steel Company Limited, despite the previous three in the past, explaining that market and economic realities dictate that a fresh review should be conducted. Minister of Steel Development, Mr. Shuaibu Audu, who spoke on Arise Television, explained that the last audit of the company's assets were carried out about 10 years ago when the value of the naira compared to the dollar was just about N200.
In September 2024, the federal government signed a Memorandum of Understanding (MoU) with the original builders of the Ajaokuta Steel Plant, Tyazhpromexport, and their consortium members, Novostal M and Proforce Manufacturing Limited, to conduct the technical audit.
The audit, which kicks off this February is expected to lay the foundation for the rehabilitation, completion, and operation of the steel plant and the National Iron Ore Mining Company in Kogi State, Nigeria.
But the minister argued that the lack of a proper understanding of
Dangiwa: 5 Million Units Needed to Bridge Nigeria's Housing Gap in 10 Years
Minister of Housing and Urban Development, Ahmed Dangiwa, has described Nigeria’s housing deficit as both a challenge and an opportunity for transformative change, disclosing that the country will require 5 million houses in the next 10 years to bridge its housing deficit.
Speaking at the 4th Edition of the Real Estate Future Forum in Riyadh, Saudi Arabia, the Minister highlighted the Nigerian government’s commitment to addressing the housing shortfall through a blend of government finance and strategic Public-private Partnerships (PPP).
Dangiwa commended the
Kingdom of Saudi Arabia for its advancements in housing and urban development, noting that well-planned housing was essential for sustainable urban growth, economic prosperity, and improved living conditions, a statement by his spokesman, Mark Chieshe, said.
“With a housing deficit of over 20 million units and a rapidly growing population, Nigeria presents a vast opportunity for investment in affordable housing. To bridge this gap, we need to build about 500,000 housing units annually over the next decade,” he explained. He outlined Nigeria’s ambitious plan through a government-driven initiative to deliver 100,000 housing units in the first phase. These
developments, designed as integrated communities, will cater to all income levels, including high-end residences and affordable units for low- and middle-income earners, he said.
Dangiwa emphasised that affordability was central to the programme’s success, with mortgage loans, rent-to-own options, made available through the Federal Mortgage Bank of Nigeria (FCMB).
Beyond housing construction, Dangiwa listed the government’s plans to establish building materials manufacturing hubs in each of Nigeria’s six geo-political zones. The hubs, he said, aim to reduce dependence on imported building materials, lower construction costs, and drive industrial growth.
Additionally, he noted that the government was working to implement a comprehensive nationwide social housing delivery programme targeting vulnerable groups, aiming to provide 100,000 social housing units across Nigeria’s 774 Local Government Areas.
Recognising the scale of investment required, the minister called on international investors, housing finance institutions, and reputable global developers to partner with the Nigerian government through public-private partnerships.
He assured investors of a conducive environment, including access to land, bankable offtake guarantees, and necessary concessions to ensure mutually beneficial collaborations.
the issues made federal lawmakers question the audit recently, insisting that a technical audit was paramount before the long-abandoned project will take off.
“I think part of the issue is, perhaps, some misunderstanding or some lack of understanding of some of the issues. The issue around it is that the last audit that was done was done about 10 years ago. Three had been done?
Yes, at least 10 years ago, and the ones that were done were done before that.
“Now, you can't have a 10-year-old audit that is bankable. You know, you need an audit, a technical audit report that is bankable, that reflects the reality of the current situation.
When the audit was done then, the dollar was less than N200.
“Inflation has moved up in multiples since then. Economic variables have changed, market dynamics have changed, there's since been a war in Russia and Ukraine.
A lot of parameters are now very much different.
“So for, you know, for anyone to say that we use a 10-year-old audit, I would have to vehemently disagree with that. I think that would be improper, and that would not be doing justice to Nigerians,” Audu stressed.
Audu also explained how the $2 billion estimated figure meant for the rehabilitation of the steel plant came about, despite awaiting the kickoff of the audit.
“These are estimates from technical experts, from some of my technical experts and some of the consultants that work in the steel industry. A proper estimate would come out after a proper audit, a specific number
would come out after the technical audit. But, we can't just be shooting in the dark.
“We need to have an estimate of the expectation. As a government, if you are going into a negotiation, you can't go to a negotiation empty-handed. You have to know the sort of things that you are looking for within the ballpark of what you want,” he stated. On the Aluminium Smelter Company of Nigeria (ALSCON) Plant in Akwa Ibom, Audu described it as shameful the fact that it has been left fallow for years, despite the potential to massively transform the Nigerian economy.
“I got back from Ikot Abasi, in Akwa Ibom, yesterday. And what I would say is that it's really a shame that you have an asset that I would consider a goldmine. The plant has the capacity to produce just under 200,000 metric tons of aluminum ingots and billets.
“Aluminum is a key component for the automobile sector. We can get our automobile off the ground. It's a massive plant with massive opportunities. I took a tour of the plant. If you look at the ground that it covers, it's very massive. It has the potential to create almost 20,000 direct and indirect jobs.
“It has the potential to generate more than $500 million in revenue annually. And it has very, very huge potential. Unfortunately, there are impasse around ownership issues. And we have two different judgments. One, a judgment from the Supreme Court, which favours a particular party. The other, a judgment from the London Arbitration Court, which favours another party.
INVESTMENT ROUNDTABLE...
L-R: Managing Director, Nigeria Ports Authority, Dr. Abubakar Dantsoho; Deputy Governor, Osun State, Prince Kola Adewusi; Governor of Enugu State, Dr. Peter
Deputy Chief of Staff to the President, Office of the Vice President, Sen. Ibrahim Hadejia; Minister of Trade and Investment, Dr. Jumoke Oduwole; Director-General, Presidential Enabling Business Environment Committee/SA to the President on FDI, Princess Zahrah Mustapha-Audu; Governor of Benue State, Rev. Fr. Hyacinth Alia; and the Comptroller-General Nigeria Customs Service, Alhaji Bashir Adewale, during the Second Existing Foreign Direct Investors Roundtable organised by the PEBEC at the Presidential Villa
Umahi: Floating of Naira, Fuel Subsidy Removal Pushed Inherited Road Projects from N13tn to over N20tn
LFG
revoke tax credit deal with MTN on Enugu-Onitsha expressway
Assures south-east leaders of Tinubu's commitment to fixing bad roads
The Minister of Works, David Umahi, has said that the reforms by the current administration, especially the floating of the naira as well as fuel subsidy removal, has shot up the N13 trillion road projects inherited by the Bola Tinubu administration to about N20 trillion.
Stressing that the reforms were necessary, Umahi who spoke when he received a delegation from the Anambra and Enugu caucus of the 10th National Assembly, assured the people of South-east of the commitment of the president to the transformation of road infrastructure in the South-east as well as other parts of the country.
The lawmakers were in his office to seek the federal government's
intervention on the completion of the construction of Enugu-Onitsha expressway handled by RCC Ltd and funded by MTN under the road infrastructure development and refurbishment investment tax credit scheme.
Umahi expressed sympathy over the lives that had been lost along the uncompleted sections of the expressway, especially the recent incident of a tanker explosion on the Ugwu-Onyema axis of the road that killed scores of people.
He said: “Again, we should also be grateful to Mr. President. Since he became president, we've not heard about farmers and herders clashes in the South-east. Mr. President inherited 2,064 projects, totaling about N13 trillion, and today, those projects
will be over N20 trillion by reason of the floating of the naira and the removal of fuel subsidy.
“It's nobody's fault. But by his good heart and commitment to rewriting the story of this country, he will make Nigeria great again.”
At the the meeting, a statement by Umahi's spokesman, Uchenna Orji, noted that it was resolved, among other things, that the Federal Ministry of Works would write MTN to demand that the company should commit irrevocably to pay contractors on the project a minimum of N15 billion every month for the next 10 months.
According to the statement, this is to enable the contractor to fast-track the completion of the Enugu-Onitsha Expressway, failing which the ministry would initiate the termination process
of the project.
It was further resolved that MTN would need three contractors to do the 79 kilometers within the original contract sum of MTN’s N202 billion. Besides, the remaining 72 kilometres of the road, the statement stressed, shall be awarded to other contractors through due process.
Noting that MTN and RCC would be invited to bid (again) too, the ministry lamented that what MTN is doing is not in line with the tax credit executive order.
“It was noted in the meeting that the delay on the job which was due to poor funding and poor contract execution has resulted to over 100 per cent increase of the project cost, and to allow MTN more than 11 months on the job could further push the
contract to increase by over 200 per cent and this is unacceptable to the federal government,” the ministry added.
Speaking during the event, the leader of the delegation and Minority Whip of the Senate, representing Enugu West, Senator Osita Ngwu, expressed worries that some of the projects were not receiving adequate funding required to complete the projects in a record time.
He made particular reference to the Enugu-Onitsha expressway that was awarded to RCC and funded through the tax credit, lamenting that some sections of the road had become a death trap to road users.
He stated that the delegation was compelled by the recent tanker mishap on the Ugwu-Onyeama axis of the road in Enugu state to make the visit to the minister.
He expressed the readiness of the federal lawmakers to offer necessary
collaborations and cooperation that would help in tackling the challenges and bottlenecks faced by the ministry in ensuring the completion of the said road.
“We appreciate Mr. President, but we are worried that it is not just about putting projects across our zone, but when these projects are not funded, it looks like it is just a game. We are worried that some of the projects that are in the South-east are not receiving funds that can make it progress so that we can have benefits for such projects. And when it is not funded, it becomes a worry to us,” Ngwu added.
On his part, the Senator representing Anambra Central in the Senate, Victor Umeh, pleaded with the president to give accelerated intervention on funding to the roads in the South-east so that the zone could fully benefit from the economic development agenda of the administration.
Former Vice President Atiku Abubakar lamented that at the rate President Bola Tinubu was going, he might soon imprison all Nigerians for his own security.
Atiku also lampooned the Tinubu administration over the prosecution of the publisher of Sahara Reporters, Omoyele Sowore.
He said Sowore’s prosecution, as well as the arrest and detention of Professor Usman Yusuf, a former Executive Secretary of the National Health Insurance Scheme (NHIS), amounted to “systematic harassment
and intimidation”.
Operatives of the Economic and Financial Crimes Commission (EFCC) arrested Yusuf on Wednesday over alleged N4 billion fraud, among others accusations.
Reacting to those developments via his official X handle, Atiku described Sowore’s prosecution as baseless, adding that Tinubu’s government may soon imprison everyone who criticises his administration.
The presidential candidate of Peoples Democratic Party (PDP) in the 2023 general election claimed that the alleged systematic harassment of
AIDS, tuberculosis, cancer and malaria preventions.
The National Agency for the Control of AIDS (NACA) has expressed appreciation for the decision of the U.S. government to exclude grants in support of HIV AIDS intervention programmes, lifesaving medicines and medical services in its recent policy suspending foreign development assistance to countries.
Also the National Coordinator of the National Coordinator - Civil Society in Malaria Control, Immunization and Nutrition (ACOMIN)
Mr. Ayo Ipinmoye has welcomed the restatement of support by the American for critical health intervention programmes affecting grants for HIV
The recent executive order by the new U.S. Administration to reevaluate and realign United States’ foreign aid which includes a 90-day pause on foreign development assistance, had raised significant concerns among stakeholders with regards to HIV/ AIDS and TB technical support and funding.
Nigeria has the highest number of people living with the Human Immunodeficiency Virus (HIV) in West and Central African region.
Ipinmoye who spoke to journalists at the first review meeting of the Civil Society organisation for 2025 in Abuja said that the suspension of grants for
critics and opposition figures and the purported dismantling of opposition parties were ploys to establish a one-party system.
Atiku stated, “When I made the clarion call that Tinubu and the APC were devoting their energies to the systematic harassment, intimidation, and dismantling of the opposition, all in service of their grand design for a one-party autocracy, I became the target of vicious attacks.
“The arrest and baseless prosecution of @YeleSowore is the latest chapter in this unrelenting campaign.
“Now, they have deemed it fit to add Professor Usman Yusuf— an
these deadly health challenges would have been disastrous especially for the poor countries of the world.
NACA in a statement signed by the Director General, Toyin Aderibigbe, the agency said the US government's decision will offer a reprieve for a worldwide HIV treatment programme.
The agency explained that over the past two decades, partners in the global AIDS response had intensively supported the Nigerian government and institutions in the country, to scale-up prevention, treatment, care, and support for those living with and affected by HIV/AIDS.
It said the U.S government through the President’s Emergency Plan for AIDS Relief (PEPFAR) has immensely
outspoken critic of this administration into their grim roster. At the pace they are going, it seems they may soon find themselves contending with the incarceration of everyone of us.”
Atiku’s comments were in line with his earlier claim that APC was destroying opposition parties to achieve a one-party system.
Speaking as a panellist at a national conference held in Abuja recently, Atiku had alleged that the ruling All Progressives Congress (APC) bribed opposition parties with N50 million to weaken their leadership ahead of the 2027 election.
supported Nigeria’s HIV/AIDS response over the years, particularly in sustaining the treatment of people living with HIV in Nigeria.
NACA said that PEPFAR Nigeria remained the biggest donor for the treatment programme in the country as their contributions covered approximately 90 per cent of the treatment burden.
The Trump administration had last week issued an executive order halting foreign aid for 90 days.
However, on Tuesday, January 28, 2025, the Administration issued a waiver for lifesaving medicines and medical services, offering a reprieve for a worldwide HIV treatment programme.
This waiver allows for the continu-
Alex Enumah in Abuja
The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN has explained why the continued stay in office of the Inspector General (IG) of Police, Mr Kayode Egbetokun is both legal and lawful.
The AGF in a statement pointed
ous distribution of HIV medications (ARVs) and medical services supported by PEPFAR in Nigeria.The Nigerian government appreciates the U.S. government waiver and is mindful of the potential change to foreign aid in the near future under the new administration.
NACA said that going forward, the Nigerian government has resolved, " to intensify domestic resource mobilisation strategies towards ownership and sustainability of the HIV response in the country with a view to reducing the risks of donor aid policy shifts to the HIV response while ensuring that the country’s strategic goals and targets in the fight against HIV are achieved".
stay on owing to the amendment of the Police Act, which allows the occupant of the office to serve out a four year tenure, starting from the date of his appointment as IGP.
"The appointment of Egbetokun which took effect from October 31, 2023 would have come to an end on his attainment of 60 years of age on September 4, 2024.
"However, before his retirement age, the Police Act was amended to allow the occupant of the office to remain and complete the original four year term granted under Section 7 (6) of the Act, notwithstanding the fact that he has attained the age of 60 years.
"This has, therefore, statutorily extended the tenure of office of Egbetokun to and including October 31, 2027 in order to complete the four year tenure granted to him.
Fagbemi stated that the advisory is necessary for the guidance of the general public.
Recall that former presidential candidate and rights activist, Omoyele Sowore was few days ago arraigned on charges bordering on cybercrime offences wherein he had described Egbetokun as an illegal Inspector General of Police.
LAUNCH OF EUROCHAM NIGERIA INSTITUTIONAL DEVELOPMENT SUPPORT...
Shettima: Women Will Lead Africa’s $29trn Economic Transformation
Launches project #SheIsIncluded to bridge gender gaps in finance, economy UBA’s Alawuba: gender inclusion will break barrier of poverty, stagnation in Nigeria
Deji Elumoye in Abuja
Vice President Kashim Shettima on Thursday declared that women will be at the forefront of Africa’s projected $29 trillion economic transformation.
Shettima said the project was geared towards advancing gender equality and women’s economic empowerment. He expressed strong conviction that gender inclusion was not merely a rhetorical commitment but the cornerstone of Nigeria’s national development agenda.
The vice president spoke at the Banquet Hall of State House, Abuja, when he declared open the 2025 Gender Inclusion Conference and launched Project #SheIsIncluded to bridge gender gaps in finance and the broader economy.
Speaking at the same event, Chairman of the Body of Banks’ CEOs and Group Managing Director (GMD) of United Bank for Africa (UBA), Mr. Oliver Alawuba, declared that Nigeria’s bold moves to promote gender inclusion, will serve as panacea for breaking the barriers of poverty and economic stagnation in the country, if properly implemented.
Alawuba said through such “forward-thinking policies and strategic interventions, this administration is paving the way for a Nigeria where every citizen, regardless of gender, has the opportunity to thrive.”
The conference, themed, “Breaking Barriers, Building Resilience for Sustainable Women’s Economic and
Financial Inclusion,” builds on the 2024 Aso Accord for Economic and Financial Inclusion, and underscores Nigeria’s commitment to achieving Sustainable Development Goal 5, which focuses on gender equality and the empowerment of all women and girls.
The vice president stated, “We cannot build the Nigeria or Africa we envision without fully integrating women into our economic systems. Women are not just participants in our economy; they are leaders, innovators, and the bedrock of sustainable development.”
According to Shettima, Project #SheIsIncluded is built on four key pillars of education and financial literacy; maternal healthcare; gendersensitive policies and programme; and expanded economic opportunities for women.
He also announced that the initiative will reach all 774 local government areas across Nigeria to ensure that no woman was left behind.
Shettima stated, “Our commitment to gender inclusion is not a cosmetic performance to placate the sensibilities of progressives; it is a fundamental pillar of our national development agenda.
“We are not just assuring the women of Nigeria of their place in our collective journey – we are creating the pathways for them to lead the charge.”
He explained that the project “is not just about meeting quotas – it is about
unlocking the full potential of our people to drive the broader economic goals of His Excellency, President Bola Tinubu’s administration”.
Shettima said the initiative will be spearheaded by the Presidential Committee on Economic and Financial Inclusion, in partnership with the Ministry of Women Affairs.
The vice president stressed, “To build an inclusive economic ecosystem where all Nigerians, regardless of gender, can contribute and benefit, we must redouble our efforts and align with global best practices.
“We must be relentless in our pursuit of Sustainable Development
Goal 5 – achieving gender equality and empowering all women and girls.”
He emphasised that the two-day conference was more than just a forum for discussion, saying it is an avenue for serious reflection and practical strategising on how to build an inclusive nation.
Shettima urged both public and private sector stakeholders to take the opportunity to outline actionable steps towards active participation in the gender inclusion agenda.
“I look forward to the recommendations that will emerge from this conference, knowing that they will shape the future of gender inclusion
in Nigeria,” the vice president added.
Earlier, Chief Justice of Nigeria (CJN), Justice Kudirat Kekere- Ekun, said the conference was an important milestone in the collective effort to outline ways of breaking barriers to empowering women and promoting inclusion.
Kekere- Ekun said gender inclusion was a key enabler of sustainable development and central to addressing poverty and fostering economic growth. She stated that gender inclusion should translate into financial independence, wealth creation, and leadership development for women across different sectors.
The CJN assured that the judiciary will work in partnership with stakeholders to ensure that the rights of women to access economic resources and ownership of property, among others, were protected and not subjected to the dictates of individuals or obsolete cultural practices and stereotypes.
In a recorded video message to the occasion, Deputy Secretary General of the United Nations, Dr. Amina Mohammed, said the conference marked a critical step towards Nigeria's journey to gender inclusion, women empowerment, and the Sustainable Development Goals (SDGs).
Privatise National Assets to Build Foreign Reserve, Boost Economic Growth, Teriba Tells
Advises against paying N75,000 to 70 million Nigerians Describes Chinese loans as worst loans under heaven
Dike Onwuamaeze
The Chief Executive of Economic Associates, Dr. Ayo Teriba, has advised the federal government to sell its public corporations like the Nigeria Railway Corporation, Transmission Company of Nigeria (TCN), Nigerian National Petroleum Company Limited (NNPC), among others through the stock markets in order to accumulate adequate foreign reserves that would stabilize the exchange rate and rev up economic productivity.
Insists no alternative to a democracy
Chuks Okocha in Abuja
A former Head of State, Gen. Abdulsalami Abubakar, yesterday, extolled his role in providing the nation a second chance at democracy, saying he laid the foundation for Nigeria’s nascent democracy in May 1999.
He was the last military head of state, who handed over power to a democratically elected government on May 29, 1999, thus birthing the current democracy.
Speaking at a book launch on 100 years of political parties in Nigeria in Abuja, the former Nigerian leader said
he was happy to have laid a solid foundation for democracy in Nigeria.
Represented by Gen Abdulrasheed Aliyu, the former Head of State, however, acknowledged the fact that the current democratic rule in the country has been tested and shaken by reactionary forces and survived, saying there was no alternative to democratic rule.
He said the fact that democracy has survived in Nigeria for the past 26 years was a testament to citizen’s belief and resilience in representative governance.
He said, “despite military interven-
tions, democracy has come to stay in Nigeria. There is no substitute to the government of the people, by the people and for the people, which democracy represents as sovereignty resides with the people.
“This year will also make it 26 years of unbroken democracy in Nigeria, the longest period of constitutional governance since 1st October 1960, when the country got Independence from the British colonial masters.
“I am happy that my government, as the then military Head of State, ushered in this era of democracy when I handed over power to the elected president on
According to him, the way to improve the welfare of Nigerians is to strengthen the exchange rate by building foreign reserve to $50 billion or more, which would bring
Democracy
29th May 1999. My government laid this solid foundation for democratic governance.
“It also shows that when leaders are patriotic, passionate, resolute and unwavering in building strong democratic structures and institutions, democracy could flourish and yield its dividends to citizens.
“”We should therefore keep watering and nurturing the tree of democracy as there is no alternative to civil rule. Our democracy has been tested and shaken by reactionary forces and survived. It is a testament to citizen’s belief and resilience in representative governance.
inflation down to 5.0 per cent by next year
Teriba gave this advice yesterday while presenting the 2025 Economic Outlook at the Association of Corporate Treasurers in Nigeria (ACTN) t themed - “Navigating Nigeria’s Economic Landscape in 2025: Opportunities and Challenges for Corporate Treasurers.”
Meanwhile, the President of ACTN, Mr. Adeyinka Ogunnubi, in his welcome address said that theme is a clarion call to all to embrace innovation, resilience, and strategic foresight as “we prepare to face the unique economic realities of the coming year.
He added: “We are navigating an era defined by inflationary pressures, fluctuating interest rates, dynamic regulatory changes, and geopolitical uncertainties.”
Teriba, in his presentation, stated that Nigeria is currently among the increasingly illiquid countries and have failed to attract enough Foreign Direct Investments (FDIs) that would diversify their economies by ignoring to sell their national assets to private investors in foreign currencies. He said: “Only countries that align with the evolving global reality of growing inward FDI stocks by financialising (selling) their assets in the face of sluggish exports will
remain liquid enough to sustain exchange rate stability and diversified GDP growth.”
Urging Nigeria to unlock liquidity from its assets, Teriba said that a country that has had success stories with privatising its Liquefied Natural Gas (LNG) project as far back as 1994/95 and fully privatising its telecom sector in 2001 should know that it would succeed if it offered equity investment to foreign investors in sectors like rail transport, power transmission, oil pipelines and refineries.
His words: “Having this track record, Nigeria has no business going to take loan from China to build rail. Chinese loans are the worst any country can take under the heaven because it is really not a loan. It is an export and import transactions. Ideally, it should be batter.
“They will give you loan but you will not get a dime. On the contrary you will pay China money in what they call counterpart funding. All their loans are going to come to you in goods and they will make you sign with their export and import bank that it will pay on your behalf.
“And all the money will be paid to Chinese government. But your own counterpart funding is to fund the labour that are coming to work.
“No honest government official will take that loan.
FG Threatens to Withhold Funds from MDAs Over Non-compliance with Cash Planning Policy
James Emejo in Abuja
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday warned that Ministries, Departments, and Agencies (MDAs) to comply with the revised Bottom-Up Cash Planning Policy or be restricted from accessing funds for capital projects.
The minister the issued the warning at the Stakeholders’ Review Meeting on the Implementation of the Revised Policy on Cash Management and Bottom-Up Cash Planning which was organised by the Office of the Accountant General of the Federation (OAGF) in Abuja.
Edun explained that the bottom-up cash policy, introduced in 2023 and integrated into the 2024 budget, was
designed to enhance transparency, accountability, and efficiency in public financial management.
He noted that some MDAs had been slow to adopt the policy’s operational guidelines, necessitating temporary restrictions on their access to the Government Integrated Financial Management Information System (GIFMIS), the platform for fund disbursement.
Edun said, “The implementation of the revised cash-management and bottom-up cash-planning policy as the AGF told us, was approved by Mr. President and was expansiated with so many circulars and guidelines, having been initiated in 2023 for the capital projects.
“There are concerns raised that some MDAs are still lagging in their embracing of the operational
guidelines as issued by the various bodies including the accountant general’s of the federation, and this necessitated a temporary block of access to the GIFMIS platform for some entities that were subsequently restored when they complied.
“And I think that will carry on. If you do not comply, then you will be withdrawn from accessing the funds that you need to use to implement your capital projects.”
Beyond cash management, the minister hinted at upcoming reforms in revenue generation, with increased automation and technology adoption to enhance internally generated revenue (IGR).
He reaffirmed President Bola Tinubu administration’s commitment to fiscal discipline, stating that government spending will be strictly
tied to available revenue, without resorting to excessive borrowing or printing of money.
In her remarks, the AccountantGeneral of the Federation (AGF), Dr. Oluwatoyin Madein, said the government was committed to strengthening financial oversight and ensuring compliance with the revised policy.
She said while significant progress had been made, some gaps and challenges remain, which the government is actively working to resolve.
Madein said, “You may recall the issuance of finance documents following the approval of Mr. President for the modification of the bottom-up cash planning policy, initiated to provide a set of rules and general guidance for the conduct of government business in planning
and management of limited cash resources for effective and efficient service delivery.
Pursuant to that, strategic steps were taken, including issuance of operational guidelines to guide ministries, departments, and agencies to ensure compliance.
“Part of the policy directing the finalization of capital projects that lead to central disbursement of capital payments in the year 2024 from the Office of Accountant General of the Federation, which necessitated stakeholders' engagement and solicitation for seamless implementation,.
She said, “I am glad to report that significant progress has been made. In the course of the implementation of the modified policy, some gaps and challenges were observed, some of which have been addressed, while
CARDOSO: NAIRA’S RECOVERY ATTRACTING FOREIGN INVESTORS
The Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday said despite Naira’s volatility in recent years, the international community believed the currency is now reflective of its real rate and currently more competitive.
The CBN governor also said recent reforms in the nation’s Foreign Exchange (FX) segment have continued to attract foreign investors into the economy, vowing that the monetary authority will do everything possible to ensure that current inflows continue.
Speaking at the 2025 Monetary Policy Forum with the theme, “Managing the Disinflation Process” in Abuja, the CBN governor noted that foreign investors would always be willing to invest in an environment where returns are attractive.
This came on a day the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zaccheus Adedeji, disclosed that the service generated a record N21.6 trillion revenues in 2024, surpassing its N19.4 trillion target by 111.6 per cent.
Speaking at the opening of the service’s 2025 Management Retreat in Abuja, he said the achievement was no mean feat, attributing the performance to the resilience, professionalism, and dedication of staff, as well as the “visionary leadership and a strategic focus on the pillars of people, technology, and processes”.
Adedeji said non-oil taxes exceeded targets by 28 per cent and contributed 73.4 per cent of total revenue, adding that the result will “forever be recorded in the history” of the service.
Meanwhile, the federal government has set a revenue target of N25.2 trillion for the FIRS in 2025.
Cardoso however, noted that cautious optimism was emerging globally around potential improvements in
capital flows to emerging markets, as advanced economies transition toward monetary easing.
Also speaking at the forum, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, commended the cooperation between the fiscal and monetary policy authorities, saying it is in the best interest of the country’s economy.
The minister said the collaboration had been aided by the wealth of experience of its drivers, including the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the CBN governor, who worked with President Bola Tinubu in the past.
He further acknowledged the possible divergence between fiscal and monetary policy but expressed satisfaction with how the two authorities have moderated their priorities.
Cardoso however, noted that Nigeria's ability to attract these inflows will depend on investor confidence in our domestic reforms, particularly those ensuring macroeconomic stability and delivering positive real returns on investment.
Cardoso also said without the decisive policy interventions undertaken by the bank to reign in rising prices, inflation could have reached 42.81 per cent by December 2024.
He noted that the liquidity injections associated with unorthodox monetary policies, particularly since the COVID-19 pandemic, had created a significant overhang, adding that while these measures were intended to cushion immediate shocks, they did not translate into commensurate productivity growth, fueling inflationary pressures and heightened foreign exchange volatility.
He said excess naira liquidity in the system had amplified demanddriven inflation, further exacerbated by supply-side constraints stemming
BANKS LIFT MAREVA ON GHL ACCOUNTS AS OIL FIRM MOVES TO CHALLENGE AUTHENTICITY OF FBN’S AUDITED ACCOUNT USED FOR RIGHTS ISSUE
and lawyers, it can now confirm that the court order has been fully obeyed.
“Banks across board have complied with the ruling of Justice Deinde Dipeolu of the Federal High Court delivered on the 29th of January 2025 lifting the Mareva injunction placed on GHL, its directors and shareholders.
“The compliance by the banks was effected in the face of false and misleading statements by FBN Chairman, Femi Otedola, Managing Director Olusegun Alebiosu and Lawyers in the press today maliciously and mischievously misinforming the public on the clear and unambiguous ruling by the learned Judge.
“This falsehood is the latest in a pattern of deceit and dishonesty from First Bank of Nigeria, that has left the public shocked and disappointed that a supposedly first-rate financial institution in a constitutional democracy like Nigeria would go so low and consciously and wilfully disobey the law and continue to spread false information at will and without remorse,” the statement added.
The oil firm pointed out that it has thus been left to file multiple cases across borders seeking damages for defamation, libel and breach of contract.
GHL recalled that the Mareva injunction was secured in the first place by First Bank when it suppressed material information and failed to fully disclose a subsisting judgement of the same Federal High Court in Lagos.
The oil firm reiterated that it was unfortunate that after it helped restore the financial standing of the bank, the financial institution has now turned against it.
“GHL will continue to seek justice worldwide against FirstBank for breach of contract (by obtaining a benefit without complying with its obligations) after restating its financial statements with the critical support of GHL who are now asking the Courts to determine if FirstBank’s Audited Accounts are correct in the face of non compliance with conditions precedent for those restatements in 2021/2022 where their N306 billion loss became N151 billion profit as stated in their current Rights Issue,” the oil company added.
from structural deficits.
Nonetheless, he said the country had turned a corner, pointing out that disinflation was within reach.
He said, “However, we must remain committed to bold, coordinated policy measures to consolidate our progress”, adding that for inflation to be defeated, it required serious collaboration between the fiscal and monetary side.
The central bank governor said these dynamics underscored the importance of a disciplined and coordinated approach to monetary policy to restore stability.
However, the Monetary Policy Committee (MPC) had in response initiated a tightening cycle using orthodox approaches.
Throughout 2024, the bank implemented several bold policy measures across six MPC meetings, including raising the Monetary Policy Rate (MPR) by a cumulative 875 basis points to 27.50 percent, increasing the Cash Reserve Ratio (CRR) of Other Depository Corporations (ODCs) by 1,750 basis points to 50 percent, and adjusting the asymmetric corridor around the MPR.
Cardoso pointed out that the past year presented significant challenges, including persistent inflationary pressures exacerbated by global and domestic shocks.
He noted that despite these headwinds, the CBN’s commitment to price and monetary stability had yielded measurable progress.
He said, “We have seen relative stability in the foreign exchange market, a narrowing exchange rate disparity, and a rising external reserves of over $40 billion as of December 2024.”
Specifically, Cardoso stressed that inflation erodes purchasing power, discourages investment, and exacerbates inequality, adding that managing the disinflation process requires a careful balance of policies that mitigate short-term costs while anchoring long-term stability.
He said the CBN was fully com-
mitted to ensuring price stability while minimising adverse effects on growth and livelihoods.
Cardoso noted that beyond monetary policy, the bank undertook critical reforms to strengthen the financial system and ensure macroeconomic stability.
He said the unified multiple exchange rate window was established to enhance efficiency in the FX market. According to him, the reform yielded tangible results, with remittances through International Money Transfer Operators (IMTOS) rising 79.4 per cent in the first three quarters of 2024 to $4.18 billion, compared to $2.33 billion in the same period of 2023.
He said the bank also cleared a backlog of FX commitments totaling $7.0 billion, restoring market confidence and improving FX liquidity.
He said the central bank also lifted restrictions on 41 items previously banned from access to the official FX market, a measure introduced in 2015, as well as introduced new minimum capital requirements for banks, effective by March 2026, to strengthen the resilience and global competitiveness of Nigeria's banking sector, positioning it to support the ambition of a $1 trillion economy.
The CBN among other things, launched the WeFI initiative under the National Financial Inclusion Strategy, designed to bridge the gender gap in financial access, empowering women through financial services, education, and digital tools.
He said, “These reforms reflect our commitment to creating an enabling environment for inclusive economic development. However, achieving macroeconomic stability requires sustained vigilance and a proactive monetary policy stance.”
He said the forum underscored the CBN’s unwavering commitment to improving communication, fostering dialogue, and collaborating on the critical issues shaping monetary policy.
CBN Deputy Governor, Economic Policy Directorate, Mr. Muhammad Sani Abdullahi, pointed out that
while the economy is undergoing significant transformations, there are diverse perspectives on its trajectory.
He said this uncertainty posed a serious challenge for policymakers, as it necessitates a comprehensive understanding of these shifts to navigate the economy through them effectively.
He said, “Over the past few years, our policy focus has been on stabilising inflation amidst profound uncertainties. While we have made commendable progress in managing inflationary pressures (month-on-month) and boosting investors' confidence, our work is far from complete.
“Our disinflation efforts, unfortunately, have been fraught with challenges, including persistent demand and supply-side shocks, which have hindered our ability to achieve a single-digit inflation target.
“These shocks, among other reasons, have necessitated decisive policy actions to prevent entrenched inflationary expectations. This highlights the critical importance of maintaining robust communication and engagement with stakeholders, a commitment exemplified by this forum.”
Abdullahi said the journey toward price stability and sustainable economic growth remained a shared responsibility., noting that while the CBN has taken decisive steps to mitigate inflationary pressures and stabilize the economy, the success of these efforts lies on the active cooperation of all stakeholders.
He said policymakers, industry leaders, the academic community, and our international partners must work hand in hand to ensure that the policies we implement today lead to desirable outcomes within the short to medium-term.
Speaking at the forum, Minister of Budget and Economic Planning, Senator Abubakar Bagudu, commended the cooperation between the fiscal and monetary policy authorities, saying it is in the best interest of the country’s economy.
He noted, “In the last 18 months,
others are various stages of being resolved.
"Some of the challenges and infractions will be highlighted in the course of this quarter."
we have seen increased collaboration between fiscal and monetary authorities, and something maybe least appreciated is that we have a president who himself is very knowledgeable on the trade-offs involved between fiscal and monetary policy and the Renewed Hope Agenda in a way is a balancing act.”
He explained, “The central bank and the fiscal authorities are clear in their priorities and objectives, and no doubt disagree. But that's how it should be. It should be healthy because when the expenditure-to-GDP ratio is lower than it should be, our first significant objective is to increase revenue-to-GDP and grow the revenue-to-GDP and expenditure-to-GDP ratio.
“We also have to deal with balancing inflation and driving economic growth, especially in an inclusive manner, as contained in the Renewed Hope Agenda. Where we think opportunities still lie is that the elasticity of our productivity is still strong, meaning we can drive productivity growth rapidly.”
He said that while the fiscal authority believed it should spend more on domestic production because the country had strong absorptive capacity in agriculture and solid minerals, it appreciated the central bank's position that it would not intervene directly. However, Bagudu pointed out that it was essential to invest more in agriculture, mainly because of the incremental security gains, which had enhanced production in challenged farming areas in the Northwest and Northeast.
He said the enhanced agricultural production was helping to bring down food prices across the country. The minister said, “Borno State recorded one of the highest harvests comparable to the pre-Boko-Haram era. Kaduna State is improving, and many other states are improving. So, how do we ensure that we don't miss that opportunity? Yes, we might have been disappointed with some of the
NNPC, PARTNERS BEGIN CONSTRUCTION OF $500M MINI-LNG PLANTS IN AJAOKUTA
A breakdown of the ownership showed that the NNPC has a stake in three of the five mini-LNG plants, viz: 90 per cent in Prime LNG, 50 per cent in NGML/Gasnexus LNG and 10 per cent in BUA LNG), while Highland LNG and LNG Arete are developed by other private companies. In all, the plants have a combined capacity of 97 million standard cubic feet of gas per day (mmscf/d).
Speaking at the ceremony, the Group Chief Executive Officer of the NNPC, Mele Kyari, reaffirmed the national oil company’s commitment to the federal government’s gas-to-power aspirations, noting that natural gas holds the key to unlocking a bright and prosperous future for Nigeria.
According to him, it will also act as a catalyst for industrialisation, job creation, and economic diversification.
Kyari said the projects play a critical role in increasing access to energy for millions of Nigerians, providing job opportunities, promoting economic growth and contributing to the nation's Gross Domestic Product (GDP), while creating opportunities for gas commercialisation and supporting
the federal government’s flare down initiatives.
“These mini LNG facilities will ensure the efficient transportation of gas over long distances, providing a cleaner and cheaper source of energy to households, mobility, industries, and businesses. This is particularly important for regions that currently lack access to gas pipeline infrastructure.
“We understand very clearly that gas delivery must be done in the quickest manner, particularly for locations where the backbone infrastructure doesn't exist today. And that is why we and our partners decided that it is appropriate and timely to start five mini LNG projects in one location.
“The reasons are very clear. This is the appropriate location our pipeline network has reached. Gas is already on our pipeline, and we can easily connect to the major infrastructure that we are building up today very, very quickly,” he stated.
The project, Kyari said, was advancing, with equipment already arriving at the port and undergoing
clearance for delivery to the site.
Kyari emphasised the significance of the project, describing it as a gamechanger for the federal government's efforts to provide affordable fuel to Nigerians, adding that the facility will enable gas delivery to all parts of the country, supporting the government's policy of promoting gas as the preferred energy transition fuel.
In his remarks, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said natural gas remains a veritable vehicle for accelerating Nigeria’s industrialisation, economic growth and prosperity.
Ekpo, who assured NNPC and its partners of federal government’s support, stressed that the initiatives align with the government's aspirations of harnessing Nigeria’s abundant gas resources for national economic development, reducing the nation’s carbon footprint and enhancing the well-being of Nigerians.
In his remarks, Kogi State Governor, Ahmed Usman Ododo expressed appreciation to the federal government for locating the 5 Mini-LNG plants in the state, describing it as a step
forward in Nigeria’s march towards attaining energy security.
He assured of the state government’s support for the project through manpower supply, provision of adequate security and host community collaboration at the projects’ various sites from commencement to completion.
Also speaking, Chairman, NNPC, Chief Pius Akinyelure said the milestone marked a significant advancement in Nigeria’s energy sector and aligns with the federal government’s agenda, signaling a new era of sustainable energy, energy security, and industrial growth.
“The significant private sector footprint in these investments, totaling approximately $500 million, is clear proof that the president's agenda to create gas-fueled prosperity is gathering momentum,” the NNPC board chairman stated.
The NNPC Prime LNG plant, one of the five projects, is expected to process gas purchased from upstream producers, producing LNG with Liquefied Petroleum Gas (LPG) and condensates as by-products.
THISDAY 2025 AWARDS CEREMONY...
L-R: Non-Executive Chairman, Access Holdings, Mr. Aigboje AIG-Imoukhuede; Former Secretary-General, Commonwealth, Chief Emeka Anyaoku; and Group Managing Director, SystemSpecs, Mr. John Obaro, at the THISDAY 2025 Awards Ceremony, held in Lagos…recently
At Investment Roundtable, Mbah Woos Multinationals with Juicy Investment Opportunities in Enugu
As PEBEC survey lists Enugu as key state for multinationals investment
Governor of Enugu State, Dr. Peter Mbah, has assured prospective multinational corporations that his administration would work with them every step of the way, not only create an enabling business environment, but to also de-risk investment flow and ensure bountiful return on investment, RoI. Mbah listed abundant opportunities and incentives in various sectors, such as agriculture, tourism, manufacturing, mineral resources, logistics, aviation, tourism, real estate, mineral resources, ICT, among others.
This was even as Enugu State, for the first time, joined the league of a few of the states that multinational
corporations are more likely to expand to, according to the survey presented by the Presidential Enabling Business Environment Committee, PEBEC.
Mbah gave the assurances during the Second Existing Foreign Direct Investors Roundtable at the Aso Presidential Villa, Abuja, saying the state had curated many projects to bankability.
He spoke at the Roundtable, which attracted over 90 existing multinational corporations in Nigeria, including Dow Chemical, Microsoft, the NigerianFrench Chamber of Commerce, the Nigerian-American Chamber of Commerce, the Euro Chamber of Commerce, the Indonesia-Nigeria
Regulatory
Chamber of Commerce, the Chinese Corporate group in Nigeria.
The governor reiterated his administration’s ambition to grow the state’s economy sevenfold to $30bn in the next six years, hence the deliberate effort to make it the premier destination for investment, business, tourism, and living.
He also maintained that the growth Nigeria seeks as a country would happen from the peripheral or sub-nationals, hence the massive steps by the Enugu State Government to build infrastructure, ensure security of lives and property, and enhance Ease of Doing Business.
The governor stated: “For us in Enugu, we know that the investment will not happen because we wish it to happen. We recognise the fact that we need to work closely with prospective investors to see how we can help them to not just create the enabling environment, but also de-risk the investment flow.
“We curated quite a number of projects across different sectors to bankability. So, if you are coming to Enugu, we are going to be presenting you with opportunities that you may not need to spend so much time doing detailed feasibility because we have done full feasibility of most of these
Violation: JAMB Suspends Admissions into Law Programme in 8 Varsities
Kuni Tyessi in Abuja
For violating laid down procedures set by the Council of Legal Education, eight universities have come under the hammer of the Joint Admissions and Matriculation Board, JAMB, as admissions will not be given for Law programmes in the 2025/2026 academic session.
In a statement signed and released on Wednesday, by the Board’s advisor, Dr. Fabian Benjamin, the affected institutions include Kwara State University, Bingham University, Nasarawa State, Redeemers University, Osun State, Western Delta University, Delta State, Taraba State University, Arthur Jarvis University, Cross River State, Alex Ekwueme Federal University, Ebonyi State and Nigerian Police Academy, Wudil, Kano State.
It added that the suspension of the Law programme at the Nigerian Police Academy, Wudil, Kano
State, will last for two academic sessions- specifically, the 2025/2026 and 2026/2027 sessions.
The state statement read: " The Joint Admissions and Matriculation Board (JAMB) will not be conducting admissions for the Law programme in some selected universities following the suspension of the Bachelor of Laws (LL.B) programme by the Council of Legal Education (CLE) for the 2025/2026 academic session at the following universities:
"Kwara State University, Malete, Ilorin, Kwara State, Bingham University, Karu, Nasarawa State, Redeemers University, Ede, Osun State,bWestern Delta University, Oghara, Delta State, Taraba State University, Jalingo, Taraba State, Arthur Jarvis University, Akpabuyo, Cross River State, Alex Ekwueme Federal University, Ndufu-Alike, Ebonyi State, Nigerian Police Academy, Wudil, Kano State.
"Please note that the suspen-
sion of the Law programme at the Nigerian Police Academy, Wudil, Kano State, will last for two academic sessions: specifically, the 2025/2026 and 2026/2027 sessions".
It also stated that: "As a result, JAMB will not approve any admissions for candidates seeking to enroll in the Law programme at the aforementioned universities for the 2025/2026 academic session."
projects and you can take these feasibilities to bank.
“We have also been able to invest hugely in infrastructure because given my business background, I understand that businesses are not charity; they are not Father Christmas. They are interested in returns on investment.
“We have had quite a number of Foreign Direct Investment (FDIs) that have been coming to Enugu in the last one year and the way we have made this work is largely by getting involved with them to understand fully how we can work with them to de-risk investment flow.
“In some cases, we provide the offtake that they need to make that entry and we have had quite a number of companies that have come into Enugu as their first entry point to the country.
“And so, my job here today is to encourage all of you to understand that Enugu is open for business. It is in our DNA to work with you to ensure that we work out a structure that makes sense for the business.”
Mbah further listed other incentives such as the existence of the Enugu State Investment Development Authority as a one-stop shop for prospective investors,
existence of federal regulatory agencies in Enugu, and the launch of Enugu State Geographic Information System Services, ENGIS, which had reduced Certificates of Occupant processing time to 72 hours.
Mbah added: “We will take up your application and ensure that you get all the necessary licenses and approvals that you need.
“When it comes to construction permits and of course procuring your title documents, if you are going to be interested in land, that also happens seamlessly. In Enugu, applying for your title document and getting issued your title document takes 72 hours through our Enugu State Geographic Information Systems.
“Some weeks ago, I also signed the Land Use Regulations, which enables an applicant to monitor and benchmark the service provider based on the number of hours.”
Meanwhile, presenting highlights of an empirical study by PEBEC, its Director-General and Technical Adviser to the President on FDI, Princess Zahrah Mustapha-Audu, listed Enugu, for the first time, among few states that foreign investors were interested in expanding to.
Sokoto 38MW Power Project for Completion in Six Months
Onuminya Innocent in Sokoto
The abandoned Sokoto State Government-owned 35 Megawatts Independent Power Project (IPP) is expected to be completed and start generating power within six months, as work resumes on the project site.
The State Commissioner for Energy, Alhaji Sanusi Ibrahim Umar, expressed satisfaction with the progress made so far.
New Telegraph reports that the State Government has injected about N32 billion into what seems as the
biggest assets of the Sokoto State Government.
Governor Ahmed Aliyu has been instrumental in initiating projects that improve the lives of Sokoto residents and boost the state’s economy.
The governor awarded a contract to rehabilitate and complete the IPP project, which was initially started by former Governor Senator Aliyu Magatakarda Wamakko.
Despite challenges posed by vandalism and theft, the contractor is working diligently to complete the project.
The commissioner assured that his ministry will monitor the project’s progress to ensure its timely completion.
Once completed, the IPP is expected to generate at least 38 megawatts of energy, complementing the national grid with an additional 40 to 50 megawatts.
This will attract more investors, boost cottage industries, and contribute to the state’s socio-economic development.
Theo Ubani, Sokoto IPP Coordination Consultant, expressed optimism that the project will
start generating 38 megawatts of electricity within the six-month timeframe.
Ubani’s consulting firm is working closely with the state’s energy and works ministries to ensure the project’s success.
The IPP’s completion will significantly improve energy supplies in Sokoto State, which currently receives only 10 megawatts. The projected 38 megawatts will have a substantial impact on artisans, small and medium-sized businesses, and the state’s overall development.
FG to Clampdown on Unlicensed Medical Labs
Onyebuchi Ezigbo in abuja
The federal government has said that henceforth only registered and licensed medical science laboratory facilities and professionals will be allowed to operate in the country.
It said that there will be no room for quackery and unprofessional practice in the healthcare service sector in Nigeria.
The Minister of State for Health and Social Welfare, Dr Iziaq Salako, who spoke in Abuja yesterday at the presentation of ISO accreditation
to deserving medical laboratories by the Medical Laboratory Science Council of Nigeria (MLSCN), said that federal government will ensure that all medical laboratories in the country enroll with the council.
He said the council will need to collaborate with the Police to eliminate quackery by ensuing strict enforcement of regulatory standards in the laboratory science sector.
Salako said in order to achieve quality health care, government must ensure that professionalism is enshrined in medical practice.
“In that case, we must work
very hard to eliminate quackery from the healthcare sector and for those laboratories that have been accredited, it means that if do well, you can also be recognised.
“This will serve as an example to laboratories in the country that once you keep to the standards, MLSCN is here to recognize you,” he said.
The minister said henceforth all medical laboratories in the country must enroll for assessment and accreditation by MLSCN, failing which they will be sealed and banned from operation.
Ita-Giwa Calls for More Support for C’River Gov
Former Special Adviser on National Assembly Matters to former President Olusegun Obasanjo, Princess Florence ItaGiwa, has called for unity and support for Governor of Cross River, Bassey Edet Otu.
Ita-Giwa made the call amid seeming distractions aimed at undermining the achievements of the current leadership.
According to her, the importance of allowing the governor to fulfill his “people’s first” promise.
Ita-Giwa commended the visible progress made in just
one and a half years of his administration.
Reflecting on the hard-fought battle that brought power back to the South in 2023, Ita-Giwa reminded her fellow Cross Riverians of the resilience and commitment that characterised their struggle.
She pointed out that the return of power was not merely a gift but the result of collective efforts and sacrifices made by the people. In her view, it is now imperative to protect the gains made and to continue fostering an environment
of growth and prosperity for the state.
Ita-Giwa underscored the significance of mutual respect between political officeholders and the governor, asserting that collaboration is essential for the success of any initiative. Drawing from her own experience as the first Deputy Minority Leader in the Senate, she recounted how she maintained a respectful and productive relationship with former Governor Donald Duke, despite their differing political affiliations.
Delta Considers Whistle-blowing to Check Poor Projects Execution
Omon-Julius Onabu in asaba
Governor Sheriff Oborevwori of Delta State believes that adoption of whistle-blowing would make poor projects execution in the state a thing of the past.
Governor Oborevwori made the assertion at an interactive meeting with Permanent Secretaries, Directors and Heads of Ministries, Departments and Agencies (MDAs) yesterday at the Government House Asaba.
He expressed appreciation for the loyalty, support, commitment and dedication to duty by civil
servants in the state.
He said that the meeting, which was the third in the series since his assumption of office, was informed by reports of some civil servants colluding with contractors to defraud the state through poorly executed projects.
Two engineers have been suspended for certifying uncompleted projects for payment, he revealed, adding that the decision would serve as a deterrent.
Oborevwori said: “All I require from you is loyalty, commitment
and dedication to duty, not personal gain; for us it is Delta State first. In advancing Delta through our M.O.R.E Agenda. We must give the best to Deltans at all times.
“In everything we are doing in Delta State, we must give it the best shot. A situation where a superintending engineer will issue certificate for a project not completed and payments made is unacceptable.
“Where you are expected to use 12mm iron rod but you go ahead to use something else.... Is it good?
Peter Obi Donates N20m to Faith Nursing College in Nsukka
David-Chyddy ElekeInawka
Former Governor of Anambra State and Presidential Candidate of Labour Party in the 2023 general election, Mr. Peter Obi, has donated N20 million to Faith Nursing College in Nsukka, Enugu State.
Obi said his donation to the college owned by the Church of Nigeria Anglican Communion, Nsukka Diocese was to help them upgrade their facilities. This would be the second time Obi would be donating to the institution. He has also donated same amount to the institution last year.
Mr. Obi, while making the donation commended the Bishop of Nsukka Diocese, Rt. Rev. Aloysius Ezeagbo, for his vision and dedication in improving access to quality education in the region. He reaffirmed his commitment to supporting initiatives that enhance learning opportunities, particularly in sectors as vital as healthcare training.
Bishop Ezeagbo, who received the donation, described his encounter with Obi as an act of divine providence. “I express profound gratitude for Mr. Obi’s concern for humanity. His first donation of N20million came
at a time when this project faced significant financial constraints. This latest contribution is arriving at yet another crucial moment. It will provide the much-needed impetus to sustain and expand the institution’s academic and infrastructural growth.
“Mr. Obi is a courageous and exceptional leader with an unusual passion for education. He is consistent in his efforts in uplifting educational institutions across the country. Obi’s interventions go beyond mere philanthropy as they reflect a deep-seated belief in the transformative power of education.”
Kogi to Spend over N4b on Malaria Prevention
Ibrahim Oyewale in Lokoja
The Kogi State Government has earmarked over N4 billion on malaria prevention across its healthcare system in the state.
The state Governor, Usman Ododo, made this known at the launch of a malaria prevention campaign to combat the prevalence of the disease with the distribution of free drugs and test-kits across healthcare facilities in the state.
Speaking at the Government House in Lokoja yesterday, Ododo announced that the distribution of anti-malaria drugs, rapid diagnostic test
kits, and over three million insecticide-treated nets to healthcare facilities is in line with the commitment of his administration to promote healthy living and the wellbeing of the people of the state.
He emphasized that malaria affects everyone and called for collective efforts to eradicate the disease, which he noted continues to claim the lives of thousands of people in Nigeria.
The governor also highlighted alarming statistics from the 2024 World Malaria Report, which revealed that “Africa accounted for 94 percent of global malaria cases in 2023,
with Nigeria contributing 30 percent of the 5,970 deaths recorded.
He further noted that the Kogi State’s malaria prevalence of 16 percent exceeds the national target of less than 10 percent, necessitating urgent intervention by all stakeholders.
The governor stressed the importance of ensuring that these supplies get to communities and people for which they are meant to improve health outcomes, noting that the items are not for sale and anyone found guilty of diverting them will be held accountable.
100TH YEAR ANNIVERSARY OF CHERUBIM AND SERAPHIM UNIFICATION CHURCH...
US Air Tragedy: Tinubu Mourns as All 64 Onboard American Airlines Jet Perish
Without evidence, Trump blames diversity policies
Elumoye, Emmanuel Addeh and Kasim Sumaina in Abuja
President Bola Tinubu has mourned the victims of the air disaster that happened on Wednesday night around the Potomac area of Washington D.C, in the United States of America.
Expressing sorrow over the tragic air accident, the president extended Nigeria’s condolences to the US, the victims and their families.
All 64 people aboard an American Airlines jet that collided with an Army helicopter were feared dead in what was likely to be the worst US aviation disaster in almost a quarter century, officials said.
Tinubu, while mourning the victims said on his verified X handle: “I am deeply saddened by the tragic incident in Washington.”
The president, on behalf of Nigeria, conveyed heartfelt sympathies to the people of the United States and all those affected by the devastating event. He also praised the emergency response teams for their swift and courageous actions under difficult conditions.
“I commend the courageous efforts of first responders and emergency teams for their selfless work in harsh conditions,” he stated.
Reaffirming Nigeria’s solidarity with the United States, Tinubu emphasised the shared grief between the two nations while expressing hope for healing and resilience in the wake of the tragedy.
“Nigeria stands in solidarity with the United States government and its people, united in grief and hopeful for a new day,” he added.
But AP reported that at least 28 bodies were pulled from the icy
waters of the Potomac River after the helicopter apparently flew into the path of the jet late Wednesday as it was landing at Ronald Reagan National Airport near Washington.
The plane carried 60 passengers and four crew. Three soldiers were aboard the helicopter.
“We don’t believe there are any survivors,” said John Donnelly, the fire chief in the nation’s capital. “We are now at the point where we are switching from a rescue operation to a recovery operation,” Donnelly added.
The plane was found upside-down in three sections in waist-deep water, and first responders were searching an area of the Potomac River as far south as the Woodrow Wilson Bridge, roughly 3 miles (4.8 kilometers) south of the airport, Donnelly said. The helicopter wreckage was also found.
There was no immediate word on the cause of the collision, but officials said flight conditions were clear as the jet arrived from Wichita, Kansas, with US and Russian figure skaters and others aboard. It was preparing for a routine landing at the time of the collision.
“On final approach into Reagan National, it collided with a military aircraft on an otherwise normal approach,” American Airlines CEO Robert Isom said. “At this time, we don’t know why the military aircraft came into the path of the aircraft,” Isom said.
Investigators will try to piece together the aircraft’s final moments before the collision, including its contact with air traffic controllers.
But President Donald Trump questioned the role of the helicopter pilot, air traffic control, as well as
faulted Joe Biden as he injected politics into his crash response.
In response to a question on why he believes DEI (Diversity, Equity and Inclusion) were responsible, Trump said: “Because I have common sense and unfortunately a lot of people don’t. We want brilliant people doing this. This is a major chess game at the highest level.”
Donald Trump also said that authorities “will be giving (the list of passenger names) very soon”. He
added that he will be announcing in a couple of hours the other nationalities who were on board the American Airlines plane.
In a video address on Thursday, defense secretary Pete Hegseth said that the army helicopter crew involved in the plane-helicopter collision was “fairly experienced”. Describing the flight as an “annual proficiency training flight,” Hegseth said: “They did have night vision goggles.”
The Skating Club of Boston confirmed that several of its members were on board the American Airlines flight when it collided with the Army helicopter. In a statement on Instagram, Doug Zeghibe, the CEO of the club said: “Of the skaters, coaches and parents on the plane, we believe six were from The Skating Club of Boston. We are devastated and completely at a loss for words.”
The Kremlin also confirmed that the figure skaters Evgenia Shishkova and Vadim Naumov were onboard. The pair, who were married, won the world championships in pairs figure skating in 1994 and lived in the US, UK’s The Guardian, said. Trump said “we have very strong opinions and ideas” about how the accident happened then reverted to taking political swipes at Barack Obama and Joe Biden over air traffic controller standards. “The word talented. You have to be naturally talented geniuses.”
Desist from Inciting Violence or Face Consequences, Matawalle Tells Ex-gov
Emmanuel Addeh in Abuja
The Minister of State for Defence, Bello Matawalle, yesterday condemned what he termed the 'reckless and inciting' utterances allegedly made by former Minister of Transportation, Rotimi Amaechi, regarding the leadership of President Bola Tinubu.
In a statement signed by the Director, Press and Public Relations, Ministry of Defence, Henshaw Ogubike, he quoted Amaechi as saying that Nigerian politicians must “steal, maim, and kill” to remain in power.
He said that the former Rivers governor made the remarks at a recent conference in Abuja, saying that the assertion not only insults the intelligence of Nigerians but seeks to radicalise the youth and destabilise the peace and security of the nation.
Matawalle said: "It is both reckless and dangerous for a former public office holder to make such inflammatory remarks. At a time when the government is working tirelessly to consolidate national unity and security, no responsible leader should be fanning the flames of violence and political unrest.”
He further cautioned against any attempt to mislead young Nigerians with a warped narrative of violence and anarchy, emphasising that Nigeria is a sovereign nation governed by laws, not a jungle where power is seized through brute force.
“Let me make it clear: the security agencies are on high alert. Any individual or group found inciting violence or attempting to destabilise this nation will face the full force of the law. We will not tolerate any form
of subversive rhetoric that seeks to undermine national unity or incite lawlessness,” Matawalle warned.
The minister reminded Amaechi that power is earned through democracy, not through intimidation, violence, or lawlessness.
He reiterated that President Bola Tinubu’s administration remains committed to upholding peace, democratic values, and the security of all Nigerians.
Tinubu's commitment to the unity and progress of the nation, he said, is unwavering, insisting that having experienced both military rule and democratic governance, he would never undermine the very democracy he has fought to uphold.
Highlighting the achievements of the current administration in a relatively short time, Matawalle asserted that
Tinubu will secure a decisive victory in the 2027 presidential election. He called upon Nigerians to place their faith in the leadership of Tinubu and to disregard the 'vituperations' of Amaechi and his associates, whom he described as politically irrelevant and out of touch with current realities of national development.
“Amaechi and others who think they can manipulate our youth into chaos should rethink their actions. This government will not fold its arms and allow any individual to disrupt the peace and stability of Nigeria,” he added.
He noted that Ministry of Defence, in collaboration with relevant security agencies, will continue to monitor activities aimed at disrupting public peace and will ensure that anyone found culpable faces severe consequences.
Deji Elumoye in Abuja
President Bola Tinubu has said the positive reports on Nigerians in the diaspora would inspire the younger generation to imbibe values that enhance the nation's image.
Tinubu made the statement yesterday in Abuja while receiving Letters of Credence from the High Commissioner of Canada to Nigeria, Pasquale Salvaggio, and the High Commissioner of Sierra Leone, Dr Julius F. Sandy, at State House.
He also received Letters of Credence from the Ambassador of Ethiopia to Nigeria, Legesse Geremew Haile, and the Apostolic Nuncio of
the Vatican to Nigeria, Archbishop Michael Francis Crotty.
The president lauded Nigerians' accomplishments abroad, describing them as an inspiration to many.
"It is good to hear about how Nigerians are doing well in the diaspora again," he said.
The Canadian High Commissioner told Tinubu that Nigerians were active in education, sports, science, health, and business in his country. Salvaggio said Nigerians in Canada demonstrated high responsibility, civility, and purposefulness when pursuing their goals.
According to him, "For us, Nigeria is a key partner. You are the largest
country in Africa, with one of the largest economies. You are also Canada's largest trading partner in Africa.
"I would like to advance the positive relations over the years. The diaspora in Canada is dynamic and strong. We have Nigerians in government, business, science, and sports. We want to build the ties further."
The Canadian High Commissioner, who had previously worked in Ghana and Cote d’Ivoire, said Canada sought to expand its interest in oil and gas, ICT, and agriculture in its partnership with Nigeria.
At another meeting with the
High Commissioner of Sierra Leone, Tinubu affirmed that Nigeria's interest in developing the West Coast and Africa remained a priority.
He told the envoy that Nigeria's decades-long investment in Sierra Leone had contributed to Africa's progress and promoted bilateral relations.
Sandy thanked the president for Nigeria's support in keeping Sierra Leone together.
He said, "In Sierra Leone, more Nigerians are doing business than Sierra Leoneans. Most of my teachers in school were Nigerians. There is no difference between a Nigerian and a Sierra Leonean when you are
walking in the street of Freetown."
In yet another meeting with the new Ethiopian envoy, Tinubu discussed the warm relations between Nigeria and Ethiopia.
He stated, "We need to continue pursuing peace in our continent. We need to work hard together to promote peace and stability.
“Our challenge in Africa is insecurity. Insecurity detracts from development. We do not have anybody that will bring peace to us, except we work for it."
The Ethiopian envoy said, "I am in Nigeria to build on the achievements of my predecessors. We will focus on culture. Our cultural relations are
a big industry, already enhanced by the Ethiopian Airline."
After receiving the Letter of Credence from the Apostolic Nuncio of the Vatican, Tinubu commended the Catholic Church for its investments in education and interventions to reduce poverty.
He said, "We have a lot of value for education in Nigeria, and the Catholic Church has done a lot in that regard, as well as in fighting poverty.
“Education reduces ignorance and poverty." Tinubu said he looked forward to receiving the Vatican's leadership in Nigeria.
Politics
2025: Renewed Hope Agenda’s Target for Health Sector
Fredrick Nwabufo in this piece outlines some of the projected interventions in the health sector under the Renewed Hope agenda of President Bola Tinubu in 2025.
Ahealthy nation is a productive one. Health is existential and ranks extraordinarily on the pyramid of desire. Since 2023, the President Tinubu-led administration has foregrounded healthcare, making it a nucleus of its policy decisions and prescriptions.
For instance, in the 2024 budget of Renewed Hope, the first in the life of the administration, health, and other contributing sectors to the human capital index received due attention.
Also, in the yet-to-be passed 2025 budget estimates, N402 billion has been allocated for infrastructural investments in the health sector and another N282.65 billion for the Basic Health Care Fund, N188 billion for vaccines, and N40 billion for malaria vaccines.
A brief review of the past year
The Tinubu administration prioritises Nigerians – their health, social welfare, and otherwise. 2024 was a significant year for the administration in the health sector with many tangible outcomes. Over 53,000 frontline health workers were trained in the past year to deliver integrated, high-quality services in keeping with the objective of training 120,000 health workers by December, 2025.
Also, the blanket of the Basic Health Care Provision Fund (BHCPF) was expanded with over 2.4 million citizens enrolling in the national health insurance scheme in the year and with 10 million Nigerians under its sturdy cover.
Nigeria also secured a EUR1 billion European Investment Bank financing mechanism and a $1 billion Afreximbank financing mechanism to support incoming manufacturers in the health and life science sectors.
In addition, the health sector witnessed significant investment interest with over 70 new healthcare manufacturing companies with 22 large-scale projects in talks with international financiers, and more than 10 value-chain verticals already being established in the country.
2025 targets for health
The year, 2025, comes with a dispensary of possibilities, considering the streak of outcomes in the previous years. It should ordinarily be a year of new quarries, fecundated grounds, and consolidation.
According to projections by the Ministry of Health and Social Welfare, about 40 percent Level 1 primary health facilities will be enhanced and advanced to Level 2, widening the capacity and reach of facilities capable of delivering integrated Sexual and Reproductive Health (SRH) services across all states of the federation.
Over 60,000 frontline health workers will also receive training in comprehensive SRH service delivery in 2025 -- with the overarching aim of achieving feasible quality improments in family planning (FP) and post-abortion care (PAC).
Also, there will be a fulsome activation of the free C-Section and VVF repair programme in 50 percent of the 172 priority local government areas, which account for the highest burden of maternal deaths in the country.
In addition, the Sector-Wide Approach (SWAp), a mechanism for driving efficiency in healthcare service delivery, will ensure that performance and financial management officers are engaged in all 774 local government areas to supervise the construction of primary healthcare centres, as well as manage their operations with fidelity to transparency and efficiency.
The Presidential Initiative to Unlock the Healthcare Value Chain (PVAC) achieved some milestones in 2024, and it is expected that the initiative will consolidate the gains and execute more multiplier interventions
and programmes.
PVAC is a crucial all-wheel vehicle established by President Bola Tinubu to unleash the potential of the health sector and unlock the arteries in the healthcare value chain by increasing local manufacturing of pharmaceutical products to least 70 percent
of total consumption by 2030; increasing the total direct full-time employees working in the life sciences manufacturing sub-sector to at least 50,000 (up from the current workforce estimated at approximately 20,000); establishing at least two commercial vaccine plants across the health sector; establish-
ing at least five new medical supplies and diagnostics plants, and doubling Nigeria’s pharmaceutical market share in Africa to at least 15 percent.
In 2025, PVAC says it will focus on the priority areas of market shaping, advance local manufacturing, regulation and policy advocacy, and execution of special projects. Some of its interventions will include expanding the range of health products and medical technologies manufactured domestically to strengthen Nigeria’s healthcare value chain, further addressing regulatory hurdles, advocating policy changes required to advance healthcare businesses across the sector by providing support to manufacturers, as well as working with public sector bodies.
Also, it will include implementing strategic, high-impact projects on behalf of the government to enhance local manufacturing capacity and improve health outcomes, addressing critical gaps in the healthcare sector.
In addition, establishing three to five manufacturing plants for pharmaceuticals, medical supplies, diagnostics and LLINs; leveraging global knowledge hubs to improve technical capacity for local manufacturing; supporting new manufacturers in obtaining WHO pre qualification and implement enabling ecosystems interventions; accelerating implementation of Executive Order and engage EO Technical Working Group to implement import duty and VAT exemption for manufacturing equipment and materials.
-Nwabufo, presidential aide on Public Engagement, writes from Abuja.
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Revisiting Bagudu’s Legacy in Kebbi
Jibrin Isah x-rays the giant strides of Minister of Budget and Economic planning, abubakar atiku Bagudu, while he held sway as Governor of Kebbi State from 2015 to 2023.
As I stepped into the city of Birnin Kebbi, the capital of Kebbi State, I was struck by the sheer scale of development that has taken place in this once-sleepy town. The city’s well-planned layout, a beautiful aesthetic network of tarred roads, and the major streets, all contracted and constructed by the Senator Abubakar Atiku Bagudu administration, are proof of the transformative power of visionary leadership.
My curiosity took me on a journey to explore the legacy projects of Senator Bagudu, the Matawallen Gwandu, who served as the Governor of Kebbi State between 2015 and 2023. What I found was a trail of giant legacies that have not only transformed the state but have also left footprints on the lives of its people. One of the first things that caught my attention was the 1.9 million dollar FIFA mini stadium constructed by the Bagudu administration. The edifice has not only retained its beauty and standard but has also become a rallying point for all strategic events, including rallies, football matches, and other notable gatherings.
As I navigated through the city, I was impressed by the sheer number of roads, bridges, and culverts constructed across the state during Bagudu’s tenure. The Zuru Emirate Road Project, which is adjudged to be the longest road constructed by a state government in the state, is a shining example of the Senator’s commitment to infrastructure development. The 949 million Naira magnificent state-of-the-art Rockwell Nigeria Limited constructed New Secretariat Complex Gwandangaji, Birinin Kebbi, is another legacy project that stands out.
The complex houses the offices of the Secretary to the State Government, Head of Service, and other strategic ministries, departments, and agencies of government, including some
federal MDAs. Bagudu’s commitment to agricultural development is also evident in the state’s rice production, which has become a major revenue earner for the state. The Rice Pyramid, which was launched during his tenure, has remained unbroken, and the state has become a major player in the country’s rice production. The Senator’s steadfast commitment to turning Kebbi State into an agrarian economy has promoted the state to the level of major revenue earner in the country.
The impact of Bagudu’s administration on the state’s healthcare sector is also significant. The rehabilitation and equipment of primary Healthcare Centres across the state, the renovation of the Kebbi Medical Centre, Kalgo, and the transformation of the Sir Yahaya Memorial Hospital to a befitting modern hospital are all testament to his commitment to healthcare development.
In the education sector, Bagudu’s administra-
tion has made significant strides. The renovation and construction of primary, secondary, and tertiary institutions across the state, including the upgrading of three tertiary institutions, Adamu Augie College of Education Argungu, the Kebbi State College of Nursing Sciences and Midwifery, Birnin Kebbi and the College of Health Technology, Jega to degree-awarding institutions, are all part of his legacy.
Bagudu’s political sagacity and tenacity have also brought about the assimilation and integration of all major political players in Kebbi State into one fold of the ruling party, the APC. His ability to ensure that the state remained relevant in national politics and keyed to the government at the centre has ensured a seamless unity of purpose and direction of leadership.
As I concluded my tour of Kebbi State, I was struck by the sheer scale of development that has taken place in the state. As a pacesetter, trailblazer, transparent, and effective manager of scarce resources, Bagudu’s admirable, exemplary leadership ensured that he completed almost all the projects he instituted before leaving office. He also bequeathed a stunning whooping sum of over N40 billion in the state treasury for his successor. He, it was too, approved the release and payment of over N 3 billion Naira gratuity to retired Civil Servants at both the state, Local Government and Local Government Education Authorities, and also N2 billion Naira for Constituency projects across the State with the full involvement of the state lawmakers.
-Isah writes from Gwandu, Kebbi State.
NOTE:
www.thisdaylive.com
DEEPSEEK AND AFDB’S MISSION 300
Mission 300 is essential for the development of the continent, argues JOSHUA J. OMOJUWA
ASR AFRICA: ENHANCING NIGERIA'S SECURITY CAPABILITIES
JOSHUA OCHEJA commends ASR Africa for its efforts to drive positive social change in Nigeria and beyond
RENEWED ATTACKS
opinion@thisdaylive.com
The awards to Leo-Stan Ekeh, and son, Nnamdi, should serve as a source of inspiration for others, writes ETHELBERT OKERE
LEO-STAN, HIS SON, THISDAY AND I
Perhaps just a few would have taken special notice of it but for me, the most spectacular aspect of the THISDAY Awards that held on Monday was the investiture on Chief Leo-Stan Ekeh and his son, Nnamdi Ekeh, respectfully as CEO Of The Year and Young Global Leader Of The Year. I have tried to make some research but could not find where, in our recent history, a man and his son got so highly honored by the same institution at the same event, on the same day.
That Chief Leo-Stan Ekeh has risen to the top in Africa’s corporate landscape is certainly not new. What THISDAY did was merely to corroborate that evidence with its highly prestigious award. What is quite refreshing about the senior Ekeh is that his son has also been recognized, entirely on his own, as an up and coming, upwardly mobile entrepreneur. One is not privy to the criteria used by the board of THISDAY newspaper in finding the junior Ekeh eligible for the award but if my knowledge of the founder of the newspaper does not fail me, then it certainly must have been after a clear conviction that the young man, independent of his father, deserves the honour.
The junior Ekeh is CEO of Konga, an ecommerce company which was acquired in 2018 by the ZINOX group, a Nigerian Tech. company chaired by the senior Ekeh. In 2019, Konga underwent a merger operation with Yudala to offer a composite (online and offline) platform, the first in Africa.
Yes, there was a father figure to act as a guide but it is not common that fathers successfully guide their sons to the top. Or, to put the same thing differently, it is not always that sons allow themselves to be teachable enough to be guided into success stories by their illustrious fathers. How the two Ekehs did it should be a subject of further inquiry and their joint success story – in these days of pervasive familial disharmony – should serve as a source of inspiration for other families.
Besides this interesting aspect of this year’s THISDAY Awards, however, I have another fascinating story about Chief Leo-Stan Ekeh and me concerning awards. Leo-Stan, as he is more popularly known, is not new to awards from prestigious organizations. As far back as 1992, his publishing outfit, New Concept Media Ltd, received an award from the Association of Nigerian Authors (ANA) for publishing my book, NIGERIA: AGENDA FOR A MODERN POLICE FORCE, which won an ANA price for Literary Excellence in the category of First Author, Non Fiction that year. The THISDAY award is quite prestigious but the ANA awards was – and is – no less prestigious, especially in those days when the Ken Saro-Wiwas, the Odia Ofeimums, the Wale Okedirans, the Femi Osofisans, etc., were involved. As a matter of fact, the late Saro-Wiwa was the national president of ANA at the time Leo-Stan, his company and I received the awards. The event, which held at the prestigious Sheraton Hotel, Ikeja was witnessed by so many corporate moguls and the crème de la crème in the national media.
I remember one reporter posing a question to express surprise that Leo-Stan was also into publishing, quite apart from TASK
SYSTEMS, his foundational enterprise that was then playing a pioneering role in the nascent Information Communications Technology (ICT) sector in Nigeria. It was in answer to that question that Chief Ekeh prophesied that both TASK SYSTEMS – his ICT company –and New Concept – his media outfit – were two entities “to watch”. TASK SYSTEMS had, as early as 1992 – the date of the event I am writing about here – become an ‘office-hold’ name in the Nigerian media landscape, having computerized virtually the entire newspaper publishing in the country.
Ironically, New Concept has renamed unsung despite publishing my two works after the one that earned it and Chief Ekeh the prestigious ANA award while TASK SYSTEMS has since given birth to a multinational, the ZINOX group. Still, I have every reason to believe that just like in the ICT arm, Chief Ekeh’s prophecy about his publishing company will also come to pass. Fortunately, this writer, whom New Concept Media and its owner, Leo-Stan, helped to announce to the world, is still writing.
Just last December, Chief Ekeh sent me a commendation message for “doing what you know how to do best”. He was responding to my invitation to chair the unveiling of my 14th book – after the one he published in 1991 – last December. Even though he gave a good reason why he was not going to be there, he did not fail to acknowledge the fact that I am still in the book writing business, 33 years after he, so to speak, introduced me to it. Chief Eke was to receive more honors, including three national honors – the Order of the Federal Republic (OFR), the ICON OF HOPE award and the National Productivity Merit award.
Since we are talking about THISDAY newspaper, which is celebrating its 30 years of existence, it would be incomplete to conclude this essay without saying what I know about how it built the foundation of its huge success since I was part of its beginning. I was not there from Day One but I qualify as a pioneer staff member of the newspaper. As a matter of fact, anyone who joined the newspaper at Ribadu road – I can’t remember the precise address –off Awolowo road, Ikoyi, Lagos – which was where the newspaper took off – is a pioneer staff member. We were occupying the first and second floors of a building said to belong to a family member of the founder, Mr. Nduka Obaigbena. I joined the Business/Economy Desk then headed by Ndubuisi Okereke but I was later detailed to coordinate the editorials of the newspaper. The chairman – he did not
like to be addressed as “publisher” – did not like the idea of an “Editorial Board”, as was then fashionable. So, what he did was to invite the title and line editors to his office every afternoon to discuss editorial topics which were then assigned to individuals to write. Later, Dr. Godwin Ogbogodo of the University of Benin began to join us at weekends. The company normally lodged him at Ikoyi Hotel and I would go to his room on Saturdays for both of us to discuss editorial topics. He would pen down some before heading back to Benin on Sunday while we, the regular staffers, took the rest. It was only after Sam Omatseye joined that we began to have what looked like an Editorial Board because he was recruited solely for that department. The pioneer editor of the daily title was Okagbue Aduba, while Niran Malaolu was the editor of the Sunday title. Mr. Ide Eguabor was initially managing editor but was later promoted Assistant General Manager, publications. Later, the Saturday title was introduced with Eniola Bello, the current Managing Director of the newspaper company – he has served in that capacity for upwards of 20 five years – as editor, with me as his deputy but I was reassigned not long after and appointed managing editor. The line editors were Victor Ifijeh (Political Editor), with Eziuche Ubani as his deputy; Ndubuisi Okereke (Business/Economy Editor) and Jonas Okwara (Foreign Affairs Editor). Others were Augustine Sam, Ada Ibekie, Ijeoma Nwaogwugwu, Austin Oguma, etc. Nwaogwuwgu was in charge of a special pull out in the newspaper culled from the Financial Times of London under an agreement. Her first assignment every morning was to go to Ikoyi hotel and get a copy of the Financial Times.
Later, an incident occurred and which prompted our immediate relocation from Ribadu road. As a matter of fact, the movement was so urgent that Eguabor and I were mandated to get a place immediately and we got one at Unity road, off Toyin street, Ikeja; an entire building with four floors. The new place was like a paradise, compared with what we had before. From just two flats in Ikoyi, we now had an entire building. Soon, the chairman made an arrangement with UAC to supply us with furniture and even rug carpets with which the offices were tastefully furnished.
The new location also brought us closer to our printers, Torch Press, located off the same Toyin street and that made the production of the newspaper less Herculean. Hitherto, our production crew shuttled between Ikoyi and Ikeja every night. We had a lithographic unit where we produced plates which were then taken – in batches – to the printers at Ikeja. As a matter of fact, the chairman, who loved to supervise the printing of the newspaper himself, was the fellow who did the shuttling most of the time. Prince Nduka Obaigbena is probably the first Nigerian who had the courage to start a daily newspaper without owning a printing press. On one of the nights, he was attacked by armed robbers somewhere around 7-Up bottling company near the toll gate along the Lagos-Ibadan express way.
Okere is a Journalist and Author
Mission 300 is essential for the development of the continent, argues JOSHUA J. OMOJUWA
DEEPSEEK AND AFDB’S MISSION 300
Donald Trump wants to expand America’s territory. The conversation on Canada being the 51st state, the desire to take Greenland off Denmark and other such rhetoric may appear like a prank taken too far, but there is a lot in there to show that Mr. Trump may be mirroring President William McKinley, the American president who expanded America’s territory by adding the likes of Guam, Puerto Rico, the Philippines and Hawaii. These have gone on alongside daily deportations, an initial pause to the activities of USAID and the State Department’s foreign aid interventions abroad, an end to DEI — Diversity, Equity and Inclusion — hires that many did not seem to realise also included the hiring of veterans. If anything, the Trump administration has hit the ground running, making good on some of its promises.
As the world watched the implications of the new American administration unfold, China switched up the news cycle. This was not just another news item to distract, it was with an impact costing as much as the GDP of Spain — and counting — in market losses. Fickle as ever, the markets responded to DeepSeek in a way that suggested anxiety and the fear of China comes with real costs. America’s AI dominance was questioned, and that tough ask immediately cost Nvidia about $600b in market value, reportedly the biggest drop in value by an American company in a day. The impact was also reflected in quick movements on the Forbes billionaires ranking.
China, speaking via DeepSeek, just showed that they are ready to go bar for bar and code for code with anyone. Its impact on the global market was not only unprecedented, but it will also mark a shift in the race for Artificial Intelligence. For many who were not paying attention to China, this was mostly a race amongst American companies. However, DeepSeek has signalled a telling shift in that race. The effects will reverberate for months, if not years, to come.
Any president, however powerful or dominant their country, who doesn’t understand that the world is no longer a place where one country can push and shove everyone in one direction will dance to the music of their own delusion. We need not love one another - better if we do - but our destinies are tied.
This is a lesson for Africa and its leaders. The most effective negotiating tool in this world is wealth and power. Anything less puts you in a
disadvantaged position, irrespective of what they promise you. A rich person may tell a poor one, “this is a relationship of equals”, but the poor one must not be simple enough to believe it. If they are richer and more powerful than you, if you can’t feed your people and they can, if you can’t protect your people and they can, if you can’t educate your people and they can, please, don’t be deluded. That can never be a relationship of equals.
And it is not their work to do, it is yours — ours. In this world, power will answer to power, wealth to wealth. Short of either or both, you can only live at the mercy of the wealthy and powerful. You’d hope that they are kind to you, but why hope when you can simply just make your own advancements? Every country is looking out for itself. If they weren’t, there’s enough money to address global poverty. Instead, the rich countries prioritise Ocean and Space exploration for instance, seeking to dominate the future, in form of time and space, long before it comes.
No one will fix what is ours to fix as a country. Especially when our disadvantages are their profit. How else will they attract the best of ours if they aren’t offering visibly better opportunities? Countries will always be political entities but any country that does not identity itself first as an economic entity will play second fiddle to those who see everything for what it is; the quest for wealth and power. The obsessive advancement for dominance, subtle or overt.
This is why the African Development Bank’s (AfDB) Powering Africa and Mission 300 are essential. Short of these practical objectives, Africa will continue to get left behind. We need our own answers to these global challenges. We can’t afford to always wait for others to answer the big questions before we know what to do. And powering the continent is a prerequisite for everything else we need to build.
At the just concluded Africa Energy Summit hosted by the Tanzanian government, African leaders, development organisations and partners of the African Development Bank made renewed commitment to the Mission 300, an initiative developed and led by the AfDB and the World Bank to connect 300 million people in Africa to clean, affordable and sustainable energy by the year 2030. The AfDB President, Nigeria’s Dr. Akin Adesina, will count this as one of his most telling legacies when he departs the bank later this year after completing his second term. This mission is essential for the development of the continent as access to energy remains a primary driver of commerce.
As the big players make advancement in their pursuit of what has been described as this century’s electricity, Africa cannot afford to get left behind. We cannot live in denial of the fact that our challenges are markedly different from what obtains elsewhere. That said, we must deploy our resources in the pursuit of our own AI solutions. It has often been said that we should forget about AI, and instead connect our people to power first. Such statements pretend that we cannot do both. And indeed, we must look to do both. Else, we will be left playing catch up yet again. If you have been following the conversation in the aftermath of DeepSeek, you’d find that whilst powerful countries appear committed to our objectives as a global community, the truth remains that each country and continent must fend for itself. It is what it is.
Omojuwa is chief strategist Alpha Reach/BGX Publishing
JOSHUA OCHEJA commends ASR Africa for its efforts to drive positive social change in Nigeria and beyond
ASR AFRICA: ENHANCING NIGERIA'S SECURITY CAPABILITIES
Imagine being entrusted with $100 million annually to create a lasting impact in Africa and Nigeria. The magnitude of this responsibility is both daunting and exhilarating. What motivates an individual to commit such substantial funds to philanthropy, particularly with an interest in the security sector? This $100 million commitment is extraordinary, but what stands out is the strategic allocation of the funds: 50 million dollars for interventions in Nigeria and the remaining 50 million for initiatives across Africa. This is massive.
Enter the Abdul Samad Rabiu Initiative (ASR Africa), founded in 2021 by Alhaji Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, a leading African conglomerate. ASR Africa is dedicated to fostering progress through strategic investments in education, health, and social development. This purposeful allocation of resources prompts reflection on the thought process behind it. I am curious to understand the philanthropic vision driving Alhaji Abdul Samad Rabiu. What inspired him to make such a significant commitment to Africa's development? Reflecting on this, I feel a sense of awe and curiosity. A statement on its website quenched my curiosity. “Our initiative came to life in a year marked by global tragedy - 2020, a year that saw the world grapple with a devastating pandemic. This crisis underscored the urgent need for concerted efforts to address the multifaceted challenges facing our world, especially in education, healthcare, and social development.
Inspired by this need, the Abdul Samad Rabiu Initiative was launched to make a difference.” And in just four years, ASR Africa has quietly yet effectively changed the lives of countless individuals across the continent. With humility that belies its remarkable achievements, ASR Africa has demonstrated that true greatness lies in making a lasting difference rather than seeking the spotlight. Its low-profile approach exemplifies selfless philanthropy, leaving even the most sceptical observers impressed.
Capturing the full scope of ASR Africa's transformative interventions in a single opinion piece is indeed a daunting task, given the organization's multifaceted approach to driving positive change across the continent. With a wide-ranging portfolio that encompasses infrastructure development in education, mentorship initiatives that foster leadership and skills development, healthcare support that improves access to quality medical care, economic empowerment programs that promote financial inclusion and stability, peacebuilding initiatives that foster conflict resolution and reconciliation, and community development projects that enhance the overall well-being of communities, its impact is remarkably far-reaching and profound. However, in this article, I have deliberately chosen to focus on the organization's critical contributions to the security sector, highlighting the strategic interventions that have strengthened Nigeria's security architecture and enhanced the capacity of its security agencies to respond to emerging threats and challenges.
As a military historian, I am particularly drawn to the organization's strategic commitment in enhancing national security, which align closely with my research interests. With a total disbursement of N9.750 billion to various security agencies, it has made a profound impact on the country's security landscape. Notably, ASR Africa granted N2 billion to the Nigerian Army for infrastructure development, donated 25 operational
vehicles to the National Drug Law Enforcement Agency, initiated a N500 million hospital construction project for the Nigeria Customs Service, and granted N2 billion to the Department of State Services for a Cyber Security Center, demonstrating its commitment to supporting Nigeria's security agencies and enhancing the country's overall security capabilities, which is crucial in addressing the complex security challenges in the country.
Additionally, it has provided significant funding for infrastructure development for the Nigerian Police, Navy, Airforce, Immigration Service, and Correctional Service. Through these interventions, ASR Africa has shown a strong commitment to enhancing the security capabilities and wellbeing of security personnel through specialized training programs focusing on counter-terrorism, intelligence gathering, and human rights have helped build capacity and strengthen security operations. Also, welfare and morale-boosting initiatives, such as educational scholarships for the families of fallen heroes and healthcare programs, demonstrate a thoughtful and holistic approach to supporting those in the critical security sector.
Ultimately, ASR Africa has cemented a lasting legacy that echoes the timeless truth that security is a collective responsibility, not solely the duty of security agencies. By bolstering the operational capacity of our security agencies, it has set a commendable example worth emulating. The organization's website reveals numerous ongoing and completed interventions, a testament to its unwavering commitment. Impressively, this impactful initiative is homegrown, originating from Nigeria, with far-reaching consequences extending beyond our borders.
The recognition of ASR Africa's outstanding contributions underscores its impactful work. With hindsight, it's clear that ASR Africa's NGO of the Year award at the 2024 Social Impact & Sustainability Awards (SISA) was a well-deserved acknowledgement of its tireless efforts to drive positive social change in Nigeria and across Africa. While its multifaceted interventions have left an indelible mark on Nigeria and Africa, its contributions to the security sector stand out for their strategic importance and far-reaching impact. By bolstering the capacity of security agencies, it has created a safer, more secure environment for citizens to thrive. As we acknowledge its impressive strides, we must also recognize the imperative of collective responsibility in securing our communities and strive to emulate ASR Africa's exemplary model.
As the curtains draw on this reflection, one thing is clear: ASR Africa is indeed fortifying our security capabilities, and posterity will undoubtedly be grateful to its visionary founder, Alhaji Abdul Samad Rabiu. I wholeheartedly commend his unwavering passion and dedication—virtues that shine brightly in a landscape where they are all too scarce. His selfless commitment to giving back to society serves as a powerful reminder that true leadership is about lifting others and leaving a lasting legacy that benefits humanity. Ocheja, a military historian and doctoral researcher, is
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
ON BOKO HARAM’S RENEWED ATTACKS
The authorities should do more to contain the violence
Two weeks ago, we expressed concerns about the new wave of Boko Haram activities in Northeast Nigeria. This followed the killing of 40 farmers and fishermen at a community in Kukawa local government area of Borno State by the Islamic State West Africa Province (ISWAP) and Boko Haram insurgents. Relevant authorities must be concerned that these criminal elements are raising the stakes. Only last week Friday, the army lost 22 soldiers, including a commanding officer, in an encounter with the insurgents in the dreaded Timbuktu Triangle, close to Damboa in Borno State. ISWAP has claimed responsibility for this latest attack, confirming the use of vehicle -borne improvised explosive devices (IED) loaded in a truck. This tragedy was another stark reminder of the threat the insurgents still pose to our national security.
ed from the complex situations developing in the West African Sahel region which provides feed to ISWAP in terms of manpower, weapons and ammunition. In 2024, an organisation known as the Clingendael Institute raised concerns about the increasing influx of violent extremists in the Kainji Lake National Park. In recent times too, a new militant group known as Lakurawa has been carrying out attacks in some communities in the Northwest. What all these signify is that Nigeria would need to reinvigorate its efforts in cooperation with other countries within the Sahel region to ensure better synergy in the fight against insurgency and banditry.
Nigeria would need to reinvigorate its efforts in cooperation with other countries within the Sahel region to ensure better synergy in the fight against insurgency and banditry
While we express our deep condolences to the family of the soldiers who lost their lives in the recent encounter, we also commend the troops for their gallant efforts that led to the killing of about 70 insurgents. But authorities in the country must accept that the insurgents still maintain the capability to wreak havoc, disrupt the peace and efforts at relocating displaced people back into their abandoned communities.
At a time like this, it may be incumbent on the military to carry out a thorough review and reassessment of the dynamics that have given rise to these renewed attacks. It is not out of place that successes recorded in recent military offensive campaigns leading to the killings of several bandits and their key leaders could have led to a shift in the modus operandi of ISWAP. It has been widely reported that many of the ISWAP fighters neutralised in recent attacks in the Northeast were foreigners.
The resurgence of attacks can also not be isolat-
T H I S D AY
EDITOR SHAKA MOMODU
DEPUTY EDITOR WALE OLALEYE
MANAGING DIRECTOR ENIOLA BELLO
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Letters to the Editor
Nigerians are concerned with the ease at which insurgents have access to explosive materials used in the production of IEDs. This is where the necessary agencies of government must focus their attention on the control of moving such explosive materials in the troubled areas. These agencies in collaboration with the state governments would need to exercise control regarding urea, ammonium nitrate and other materials often used in the making of fertilisers to prevent them from falling into the hands of insurgents. The Northwest zone must not be allowed to slip back into the days of serial IED attacks.
We call on the military to reinforce its intelligence and surveillance capability through the effective use of technology. One noticeable game changer in their campaign in the Northwest has been the deployment of armed drones to enhance surveillance and strike capability. Armed drones are quite expensive but would provide valuable support in the vast terrain of the region
This is one area where the government would need to provide funding for the military beyond the envelope budgetary approvals for acquisition of armed drones and other important equipment.
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.
HISBAH’S LAUDABLE ACTIONS IN KANO
In Kano State, the Hisbah Board (Hisbah) operates with all the power and authority of a religious police, which it is. Backed by the state government and drawing what it considers its extensive moral and spiritual authority from the Quran and Sharia Law, the body has been a force to reckon within the state for many years now.
From seizing and destroying alcoholic drinks to preventing the consumption of alcohol in the state, to enforcing public decency by enforcing modesty among residents by sometimes shaving young boys, to banning the public display of mannequins by cloth sellers, the morality police has been at the center of maintaining public decency in Kano State for years now. Its efforts have sometimes seen it enter into the very eye of the storm. But in a country where it is easier to become controversial than correct or credible, and creditable, it is no surprise that Hisbah is controversial with all the work it does and how charged its encounters can be in the course of doing its work.
For decades now, Nigeria has had its hands full of an unprecedented crisis, one which is growing more complicated by the
day. All over the country, the harrowing specter of out-of-school children has grown from a trickle to a flood, becoming the fullfledged menace it is today. Many children who are of school age are nowhere near any school. Rather than being in school, they are out on the streets where different forms of vicious abuse have turned them into ticking time-bombs waiting to detonate and cake their immediate environment in conflagration.
In Nigeria, the North clearly has the highest number of out-ofschool children. A large chunk of these kids are resident in Kano State.
A lot of these kids are cast-offs of the Almajiri system of education, a prominent feature of life in Northern Nigeria. Professor Suwaiba Ahmad, the Minister of State for Education, may have recently sought to draw a dichotomy between almajirai and outof school children, but the spectacular failure of her attempted categorization in the face of the sheer number and destitution of children who beg every day for a living while they should be in school put paid to any further hopes that almajirai are not out-ofschool children.
In the light of the darkness that the out-of-school children represent, Hisbah must be commended for recently relocating about 230 of these children from the streets of Kano. It is clearly a step in the right direction. Kano State witnessed the dangerous use to which these innocent children could be put during the Endbadgovernance protests of August 2024 when many of them were conscripted by criminals to wreak havoc on public property in the name of peaceful protests.
The children should be sent to proper schools with the full support of their parents and guardians. Alongside school, they should be made to learn technical skills and entrepreneurship to prepare them for the future. They could also be used as peace ambassadors with a special remit to stand against terrorism in its many dangerous forms.
That is what the Kano State government is doing by keeping them in Hajj Camp and away from the streets. This is highly commendable.
Kene Obiezu, keneobiezu@gmail.com
Stakeholders Raise Concern over Unending Rising Cost of Building Elusive Second Runway at Abuja Airport
Chinedu Eze
Aviation industry stakeholders are worried about the unending rising cost and the controversy surrounding the second runway project at the Nnamdi Azikiwe International Airport, Abuja.
They have therefore called on the federal government to either complete the project or drop the plan entirely.
The planned project has a long history, from being awarded to Julius Berger in 2009 at the cost of N64 billion to the House of Representatives throwing it out in April 2010, insisting the cost was outrageous.
The House revoked the project in 2010 and ordered the Federal
Airports Authority of Nigeria (FAAN) and the Bureau for Public Procurement (BPP) to conduct fresh bidding, but 15 years after, the project is yet to be completed.
Today, the project which was awarded for the sum of N64 billion was later re-awarded for N90 billion, but later the China Civil Engineering Construction Corporation (CCECC) handling the project conducted a new variation, which catapulted the cost from N90 billion to N532 billion, indicating a 591.11 per cent increase.
Reacting to the delay and continuous rise in the cost of the project, the Secretary General of Aviation Round Table, Olu Fidel Ohunayo, told THISDAY that there was need for variation in the cost
of the project, recognising the high inflationary rate in Nigeria and exchange rate but explained that the high cost was unacceptable and for him, adding that Nigeria may not need a second runway at the Abuja airport.
“I am of the opinion that there is a need for a variation. I am also of the opinion that the figure, the 528 billion now, should also be looked into. I think that is too high,” he said.
Ohunayo also said that the existing runway at the Abuja airport has not been optimised, which means that there is no need for a second runway and advocated that the Federal Airports Authority of Nigeria (FAAN) should acquire evacuation equipment that would
be used to remove aircraft instead of closing the airport for other users, noting that it is that closure of the airport that made many think there is need for a second runway at the airport.
“Well, I am not a supporter of a second runway, but for me, the single runway has not been used to optimal capacity. What I supported is for us to have the equipment for quick evacuation from the runway when issues occur. I think that is more important. I want to see them have evacuation equipment at the Abuja airport than going for a second runway. But now that they have gone for a second runway, and if you look at that runway from N90 billion, when N90 billion was quoted, if
you look at the value of Naira as at that time to what we have now, there has been an increase. And with that increase has come inflation, and with inflation, it has affected all other products and services that will be used on that runway,” he said.
Ohunayo however said: “While I agree that there is inflation and the rate of exchange of dollars has changed, I also believe that the N528 billion is excessive and should not be entertained.”
Reacting to the new variation cost, the Managing Director/ Chief Executive Officer of Aero Contractors of Nigeria Limited, Captain Ado Sanusi, flayed the contractor of the project, saying that the 591:11 per cent increase of the
cost is outrageous, but insisted that there was need to have a second runway at the airport, reiterating that the facility was overdue. According to Sanusi, “This is not the first time we are building runways and we are not the first country to build a runway. Convert the money that the contractor is saying to dollars. If the contractor is overcharging Nigeria, blacklist them. It is very simple. We have built runways several times. We have over 22 airports in the country, why are we saying that a contractor is charging more? We know these things.
Ports
The move by the Nigerian Shippers’ Council (NSC) to enthrone efficiency in ports operations in the country has been described as a good development for the economy and maritime industry.
Freight forwarders and research group under the aegis of Sea Empowerment and Research Centre (SERE) while commending the Executive Secretary of the NSC, Barr Pius Akutah, for the various measures aimed at transforming the nation’s ports industry, said it was good that Nigeria is working
towards achieving what happens in other global ports.
Excited about the efforts of the council to bring about global standard in Nigerian ports operations, Head of Operations of the Group, Dr. Eugene Nweke, said this was good news for shippers in Nigeria. Nweke said that the moves were capable of impacting positively on cost of doing business in the ports and prices of goods in the market.
He observed that Akutah has been making efforts to introduce more positive changes to the maritime and ports industry since he assumed office.
In a chat with newsmen, Nweke said Akutah has shown deep concerns about “promoting and ensuring the efficiency of ports, checking arbitrary charges, and promoting trade facilitation”.
According to Nweke, the NSC CEO, has performed creditably since assuming office over a year ago, adding that he has also been engaging stakeholders to improve the industry’s operations.
Nweke said, “With his committed management team and staff, they have promoted and canvassed for the efficiency of ports, checked arbitrary charges, and promoted
trade facilitation within the Council’s capacity. Also, under his watch, the Council has made significant recoveries on behalf of shippers. The compliance unit under his leadership has been reported to have recovered hundreds of millions of naira for shippers, which is a testament to his commitment to protecting their interests.
“His management team and staff have made constant interventions on behalf of shippers across the board, and this development is noteworthy. He has been a strong advocate for the rights of shippers and has worked tirelessly
to ensure that they receive fair treatment from shipping companies, terminal operators, and other service providers. Whether it’s through negotiations, mediation, or regulatory actions, Akutah in particular has consistently demonstrated his dedication to promoting the welfare of shippers to the best of his abilities and most importantly his interactions with them.”
He added, “One of his notable achievements is the implementation of the Enterprise Content Management System (ECMS), which has helped to drive the digitalization and automation of
the NSC’s operations . He has also been a strong proponent of a strong legal framework for the Shippers’ Council as the nation’s Port Economic Regulator, which will enhance the efficiency and competitiveness of the nation’s ports . “Under his leadership, the NSC has also made significant progress in canvassing for and promoting port efficiency, trade facilitation, and regional maritime hub development.
Caverton Reports Revenue Growth Amid Economic Challenges
Stories by Chinedu Eze
Caverton Offshore Support Group Plc, the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, has announced its unaudited results for the year ended 31st December 2024. The results show revenue grew by 43 per cent year on year to N45.6 billion while Loss-Before-Tax was N50.5 billion.
In reaction to the company’s unaudited financial results for 2024, Group CEO, Mr. Bode Makanjuola, highlighted the resilience of the Caverton brand in the face of significant macroeconomic challenges. Despite the unprecedented shifts in Nigeria’s economic landscape, the company achieved a positive
operating profit exceeding N9.0 billion, underscoring the strength and adaptability of its business model.
Makanjuola emphasised that both of the Company’s core operating sectors, where it is a dominant player, remain highly sensitive to macroeconomic headwinds. These challenges, he noted, continue to exert upward pressure on operating costs and lead to an erosion of value across the industries in which the Company operates.
“While the operating environment has been difficult, the results clearly demonstrate the inherent resilience embedded in our business strategy. Despite the headwinds, we continue to focus on strengthening our operational efficiencies and capitalizing on strategic opportunities to deliver
value to our stakeholders,” Makanjuola said.
The Group CEO further noted that the company remained committed to navigating these challenges and positioning itself for sustainable growth in the years ahead, while maintaining its strong market presence in both the charter flight and marine operations sectors.
Looking ahead, Caverton Marine is steadfast in its commitment to a long-term growth strategy, continuing to invest and collaborate in key sectors. As part of these efforts, the Company announced a significant partnership in 2024 with the Nigerian Navy for its concession agreement for its GRP workshop at the dockyard in the manufacturing of Glass Reinforced Plastic (GRP) ferries, security boats, and other vessels over the coming year.
FAAN MD Pushes for Rehabilitation of 17 Airport Runways
The Managing Director of the Federal Airport Authority of Nigeria (FAAN), Olubunmi Kuku, has explained why the agency needs about N580 billion to upgrade 17 airport runways in Nigeria, saying that it is necessary because all the 17 runways have gone beyond their lifespan.
Runways are built within a timeframe they will be utilised and renewed in order for them to maintain given safety standard and functionality, but in Nigeria, known for poor maintenance culture, this is not followed
‘Integrate
through.
While fielding questions recently on TV broadcast, Kuku said the average lifespan of a runway is about 20 to 25 years and a lot of the runways in Nigeria have actually exceeded that time, meaning that they have been constructed since 30 to 35 years and they need to be reconstructed.
She clarified that the N580 billion runway upgrade she spoke about was actually for over 17 runways across Nigeria.
“And it’s not just the runways. It includes the runways,
perimeter roads, and fencing. So, I’ve seen some commentary where people are saying, what do they need all of this money for?
“I encourage you, please just look at Google if you’re in the construction business or in the aviation business to try and understand what it means to build runways, taxiway links, apron expansion work that we need to do, and of course, to make sure that we put a safe environment together for everything that happens on the air side,” Kuku said.
Microfinance Banks in Rural Agric Finance for Improved Credit Access’
Senator representing Enugu North district at the National Assembly, Okey Ezea, has advocated for the integration of microfinance banks into the disbursement of agricultural and rural credit programmes for improved access to rural finance.
The senator who was speaking at a forum in Nsukka, Enugu State, to inform his constituents about some of his constituency projects and reveal his legislative agenda, said that the inclusion of microfinance banks in the disbursement of agricultural credits will eliminate the hijack of such funds by politicians and their cronies who prevent real farmers and rural investors from accessing such funds. He also said the business orientation of MFBs will help
prevent repayment failures that have led to the failure of similar programmes in the past.
Citing the example of the Nigerian Agricultural Cooperative and Rural Development Bank (NARDB), which, according to him, has had limited successes as a result of political hijacks and repayment failures, Senator Ezea recommended that the involvement of MFBs as disbursement agents will ensure proper tracking of disbursements and enforcement of repayments to ensure that the funds achieve the targeted development multipliers.
“The Federal Government has, in the past, created some special purpose finance vehicles to drive investments in rural agriculture and other enterprises. One of them is the Nigerian Agricultural Cooperative and Rural
Development Bank (NARDB). This special bank was designed to provide single-digit credit to rural farmers and businesses. I do not know how effective they have become, but there is evidence that a lot needs to be done to make its impact felt.
“The first thing to do is to redesign the disbursement methods by making the thriving microfinance banks spread all over the country the disbursement channels This will eliminate the situations where such special funds are hijacked by politicians and their cronies. It will also ensure improved repayment frequencies and costs because it is the MFBs that will work out repayment plans failing which they will be excluded from future disbursements,” Senator Ezea said.
IITA, France Partner to Empower 3,000 Women in Agriculture
Air WAtCh
Tourists Urge FG to Further Liberalise Visa on Arrival
Chinedu Eze
Some years ago, the federal government, through the Nigerian Immigration Service (NIS), introduced visa on arrival for certain categories of visitors to Nigeria, especially those willing to invest in the country, and over time tourists and others began to benefit from the policy.
Initially the condition to secure visa on arrival in Nigeria was too stringent and the cost of the service was very high compared to other countries, but over time, Immigration began to relax some conditions, especially the high cost, which currently ranges from $110 to $160, which is still high when compared to the cost in other African countries.
Tourists are therefore calling on the federal government to further liberalise Visa on Arrival, to enable more tourists and other visitors gain easy access to Nigeria.
According to the Nigeria Immigration Service, to be eligible for Nigeria Visa on Arrival, the applicant must meet certain requirements, which include frequent traveller or a high net worth individual; must have a valid passport with at least six months validity beyond the date of arrival in Nigeria; must have a return ticket or an onward ticket and must have proof of accommodation in Nigeria.
Other conditions include that he must have a pre-approval letter issued by the Nigeria Immigration Service; must have a recent passport photograph; must have a contact person or address in Nigeria; must have a valid e-mail address and must have a valid credit card to pay for the visa fee.
Travel expert and organiser of Akwaaba African Travel Market, Ambassador Ikechi Uko, commended the Nigerian Immigration Service for reducing the cost of the visa but said that the agency needed to soften down on the other conditions in order to encourage more people to visit Nigeria as tourists.
continue while the state government which has developed deep interest in the festival and has been funding it for years, create more incentives to boost the festival.
“The Cross River government has promised to build four hotels in Calabar before December 2025. We cannot have enough hotels in the short possible time in Calabar, so more people should rent their homes in December,” Ambassador Uko who is a major facilitator of the festival said.
Looking at tourism destinations, the organiser of Akwaaba African Travel Market and Accra Weizo, noted that there are tourist destinations that have natural attraction but more facilities could be built there to make them more attractive. He said that Ikogosi Warm Spring and Obudu Cattle Ranch, for example, have their natural attraction and noted that Landmark taking over Nike Lake Resort and another beachside in Port Harcourt is worth noting because the company has the reputation to transform facilities.
“Obudu Cattle Ranch does not need much; just access road and better management and no place can yet be compared to Obudu Cattle Ranch in Nigeria. Landmark taking over Nike Lake means a lot because the company has proved itself by transforming ordinary beach to a big resort in Lagos, which attracted other people to start building similar facilities. It is a big brand and very creative,” he said.
The Founder and Managing Director of Travel Lab Nigeria Limited, Mrs. Shalom Asuquo, in her appraisal of 2024 Detty December and the influx of foreigners and Nigerians in diaspora, noted that there may not be accurate figures to that movement yet, but noted that there is discerning decline in international travel and offered possible consequences to this new development.
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The International Institute of Tropical Agriculture and France have partnered to empower 3000 women in six States in Nigeria.
The move according to them, would expose women to the right information, training, and coaching to overcome agriculture challenges.
Speaking on the sidelines of a stakeholders’ workshop tagged
“Women in Agricultural Technical Education and Apprenticeship (WATEA) project in Ibadan, the Deputy Director General Partnerships for Delivery, IITA, Kenton Dashiell, said the programme is all about empowering women to become powerful and successful women in agriculture.
“This is doable because these women just need to have the right information, training, mentorship,
and coaching so that they overcome so many obstacles to become highly successful women in agriculture. The states include Jigawa, Kano, Kwara, Anambra, Oyo, and Enugu states.
“Many women have not been exposed to the great potential in agriculture. There is good money in agriculture and you can make a respectable living, you can help empower your family when you get into agriculture. It is a way to strengthen the economic strength of your family with healthy foods,” he said.
Also speaking, the Ambassador of France to Nigeria, Marc Fonbaustier, said the event is dedicated to technical education for women in the agriculture sector, saying that it speaks a lot about France’s top priority for Nigeria.
He told THISDAY that Rwanda, Benin and The Gambia have fully liberalised Visa on Arrival process for Africans visiting those countries and recently Ghana announced that if you are African, you don’t need visa to visit Ghana and the new policy ought to take effect from January 2025. So, if Nigeria can open its door further it may not insist on high net worth individuals, frequent traveller or prior letter from Immigration. It was learnt that most people who travel for tourism may not be high net worth individuals but ordinary people who save up money to travel to different countries during holidays or during their leave.
Nigeria has many places to travel to but many of such places need further development and whether Nigeria has the hospitality facilities to accommodate more foreigners and Nigerians in diaspora when they visit, Ambassador Uko said that Nigeria may need to build more standard hotels in the categories of three, four and five star hotels. He said that there were lots of bed and breakfast and short let hospitality facilities in Nigeria but the country needs to build more standard hotels.
“Capacity is where the problem is. Nigeria needs to have standard hotels like three, four and five star hotels to accommodate more tourists. We have B and B facilities, short let apartments but when it comes to regular hotels, we are not there yet,” he said.
Talking about the Calabar Festival, which has drawn many foreigners to Nigeria for years, he said that as more people participate in the festival more hotels may be needed, but from the beginning of the festival, many residents in Calabar usually rent out their homes, saying that such strategy could
“For international travel, the significant decline in passenger numbers is largely attributed to the rising cost of travel. The high cost of international flights has made “Japa” (relocation) increasingly unaffordable, leading to a drastic reduction in migration rates. This trend is also reflected in reduced staff turnover within organizations. However, this shift has coincided with a concerning rise in fraudulent activities by staff and a decline in personal development efforts among employees. “Additionally, the rising cost of living in other parts of the world has exacerbated challenges for Nigerians who relocated abroad. Many are now facing financial difficulties, with some resorting to living on the streets. Various state and federal government agencies have conducted verification exercises, exposing employees who relocated (“Japa”) but continued to receive salaries. These employees are now being forced to forfeit their benefits and pensions, cutting off a previously relied-upon income stream. As a result, many are returning to Nigeria or, in some cases, one partner in the household is relocating back,” Asuquo said. She observed that there has been an increase in travel across Africa, as a smaller number of people travel overseas due to stringent travel conditions, high cost of fares and diminishing work opportunities abroad. In addition to the travel across West Africa, there is also interstate tourism in Nigeria, where people leave their homes and relocate to hotels and this explained why most hotels did not have rooms in many states, especially in southern Nigeria during the Yuletide. The hotels were fully occupied.
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 29 January-2025, unless otherwise stated.
Sir Chuma Chinye: Demystifying Family Law, Wealth Planning through the Family Lawyer Podcast
in a society where family law, estate planning, and wealth management often seem intimidating or shrouded in mystery, a new podcast, your Family Lawyer seeks to provide clarity, actionable advice, and legal insight to empower individuals and families. Hosted by seasoned legal expert Sir Chuma Chinye, the podcast takes audiences and listeners through the intricacies of marriage, inheritance, succession planning, and other legal matters critical to family life in Nigeria. With over three decades of legal experience, Sir Chuma Chinye brings a wealth of knowledge and a mission to make legal principles accessible to all free of any charges Chinye’s extensive legal background adds depth and credibility to the podcast. Called to the Nigerian Bar in 1988, he has over three decades of experience in litigation, wealth management, and family law. after years in public service, Sir Chinye returned to private practice, founding Law Solutions Centre . He takes Precious Ugwuzor through the podcast’s maiden episode where he set the tone for the weekly show designed to break down complex legal matters into digestible, actionable information at no costs
Driven by a passion for social responsibility, Sir Chuma Chinye, the host of Your Family Lawyer Podcast uses the podcast to empower families with the legal knowledge they need to thrive. For him, the podcast’s core purpose is to provide free and practical legal guidance to individuals and families.
The weekly episodes are designed to be engaging, accessible, and concise, offering listeners the tools they need to navigate the legal aspects of family life with confidence.
“This weekly podcast is designed to provide free, practical legal guidance and advice in a way that’s engaging and accessible,” Sir Chinye explains.
The Vision of Empowering Families through Legal Knowledge
The mission of Your Family Lawyer is simple yet profound: to empower individuals and families by equipping them with the knowledge to make informed legal decisions.
Sir Chinye states, “We aim to empower individuals and families by equipping them with the knowledge they need to make informed legal decisions.”
Whether it is helping intending couples to navigate the tricky pre-marital processes , helping newlyweds understand their rights, guiding married couples through estate planning, or addressing family disputes, the podcast serves as a dependable resource for people from all walks of life. The aim is not just to provide legal insights but to deliver actionable guidance that helps listeners safeguard their loved ones and their assets.
Why You Should watch or listen to Your Family Lawyer
Sir Chinye invites his audience with a heartfelt appeal: “Hey, hey! Don’t skip to the next video yet. Trust me. The next few minutes might just be all you need to protect everything you’ve ever laboured to build—your spouse, your children, your property, and your money.”
He promises that every episode is packed with relatable real-life examples, expert insights, and engaging discussions. His years of experience in family law and wealth management allow him to distil complex legal concepts into easy-tounderstand advice, making the podcast a reliable companion for anyone seeking to navigate the legal aspects of family life with ease.
Exploring Family Law in Nigeria
The podcast kicks off with an exploration of family law in Nigeria, starting with the concept of a valid marriage. Chinye explains that, in order to enjoy marriage rights in Nigeria, a person must be validly married under one of the country’s three recognised legal systems: statutory, customary, or Islamic law.
Statutory marriages are governed by the Marriage Act, which is rooted in English law and remains a legacy of colonial rule. Customary marriages, on the other hand, are guided by native laws and customs unique to different communities across the country. Islamic marriages adhere to the principles of Sharia law, incorporating religious practices into legal frameworks. Sir Chinye highlights the interplay between these systems, stating, “A person can be married validly under statutory law, customary law, or Islamic law—and even a combination of two or more systems.” These systems have a direct impact on family law,
inheritance, and succession planning, making it essential for individuals to understand their implications.
The Realities of Divorce
Divorce, a sensitive topic in Nigerian society, is tackled with sensitivity and expertise. Chinye defines divorce as “the legal dissolution of a marriage, terminating the marital relationship between a married couple.”
He delves into why divorce is often dreaded in Nigeria, citing cultural stigmas, societal pressures, and the disproportionate disadvantages women face in divorce proceedings.
The podcast explains the types of divorce available, depending on the type of marriage contracted. Whether it is under statutory law, customary law, or Islamic law, the rights and processes differ significantly. Sir Chinye assures listeners that the podcast will address key questions such as when, where, and how to obtain a divorce, and why one might consider it.
However, Sir Chinye also advocates for preserving marriages wherever possible.
“Your Family Lawyer” will show you why you should remain married unless you absolutely must get a divorce,” he says.
The podcast takes a balanced approach, empowering listeners with knowledge while promoting family unity when feasible.
Prenuptial and Postnuptial Agreements
“Prenuptial agreements are almost unheard of in Nigeria,” Sir Chinye remarks, highlighting the legal tool that many couples overlook. He explains the concept of prenuptial agreements, which are contracts entered into before marriage to outline the division of assets and financial responsibilities.
He also introduces the idea of postnuptial agreements, which serve a similar purpose
but are signed after the marriage has taken place. These agreements can address asset management, debt allocation, and property rights while the marriage is still subsisting or in the event of a separation or death.
Chinye encourages couples to consider these agreements as a means of protecting their financial interests and avoiding disputes. “Even after marriage, a couple could enter into a postnuptial agreement tailored to suit their circumstances,” he says, offering his audiences and listeners practical insights into a rarely discussed aspect of family law.
Addressing Paternity Fraud and DNA Testing
Paternity fraud has become a growing concern in Nigeria, shattering homes and relationships. The podcast dedicates an episode to demystifying the myths surrounding paternity fraud and DNA testing. Chinye acknowledges the emotional and legal turmoil this issue causes and offers viewers and listeners tools to navigate such situations.
Sir Chinye discusses the legal processes involved in resolving paternity disputes, emphasising the importance of transparency and fairness. By providing legal guidance, the podcast aims to help families address these sensitive issues while minimising emotional and financial damage.
Adoption and Surrogacy
In a society where infertility is often stigmatised, many couples shy away from adoption or surrogacy. Chinye reassures viewers and listeners that these are perfectly legal and permissible means of having children in Nigeria.
The podcast simplifies the legal processes for adoption and surrogacy, providing clear, step-by-step guidance. Sir Chinye
explains the rights of adoptive parents and surrogate arrangements, encouraging couples to consider these options as viable solutions to building a family.
By dispelling societal misconceptions and offering accessible legal tools, Your Family Lawyer empowers couples to make informed decisions about these alternatives to parenthood.
Combating Spousal Abuse
Spousal abuse, or domestic violence, is a pervasive issue in Nigeria. According to the Nigerian National Demographic and Health Survey (2018), one in three women aged 15–49 have experienced physical violence since the age of 15.
Sir Chinye discusses the Violence Against Persons (Prohibition) Act (2015), a federal law that criminalises domestic violence and provides protection for victims. However, limited awareness and cultural norms often prevent victims from seeking help.
The podcast offers practical legal tools and support services to help victims prevent, address, and recover from spousal abuse. Sir Chinye says, “Domestic violence remains a pervasive problem in Nigeria, and we must arm ourselves with knowledge and support systems to fight it effectively.”
Estate Planning and Wealth Management
A significant portion of the weekly podcast focuses on estate planning and wealth management, highlighting its importance for securing a family’s future. Sir Chinye explains estate planning as “the process of managing and distributing one’s assets during life and after death.”
Viewers and listeners learn about the various tools of estate planning, such as wills, trusts, powers of attorney, and beneficiary designations. Sir Chinye delves into each tool, explaining its purpose and benefits. For example, a will ensures assets are distributed according to a person’s wishes, while trusts can help beneficiaries avoid the lengthy and costly probate process.
The podcast also discusses the consequences of failing to plan an estate, including family disputes, unintended beneficiaries, and business collapse. Chinye stresses the importance of regularly reviewing and updating estate plans, consulting professionals, and communicating plans with loved ones.
“Planning your estate is not just about wealth—it’s about leaving a legacy and protecting your family,” Sir Chinye emphasises.
Breaking Cultural Barriers
In Nigerian culture, discussions about death and estate planning are often avoided. Chinye addresses this taboo head-on, stating, “It is not even a question of if we will die; it is a question of when. We must plan as if we may die tomorrow to spare our loved ones’ hardship.”
The podcast encourages listeners to embrace open conversations about wealth distribution and family planning. By demystifying these topics, Sir Chinye hopes to shift societal attitudes and foster a culture of preparedness. “Whether you’re curious about your rights under the Marriage Awct or worried about estate disputes, we’re here to guide you,”Sir Chinye assures. Available on major social media platforms, where viewers and listeners can access additional resources and legal tips, the weekly podcast which airs every Saturday aims to be a trusted guide through life’s legal journeys, helping families protect their rights, assets, and legacies.
EFCC, NGX RegCo to Strengthen Partnership on Market Integrity
Kayode Tokede
NGX Regulation Limited and the Economic and Financial Crimes Commission (EFCC) have called for enhanced partnership to enhance market surveillance and combat financial crimes in Nigeria’s increasingly digitalized capital market.
This strategic initiative was discussed during a high-level meeting between NGX RegCo’s Chief Executive Officer, Olufemi Shobanjo, and EFCC’s Executive Chairman, Ola Olukoyede, at the Commission’s Abuja headquarters.
During the meeting, Shobanjo highlighted the critical need to adapt regulatory frameworks to address sophisticated digital financial crimes emerging in today’s evolving market landscape.
“The digitalization of our markets has brought new challenges, necessitating a more robust collaborative approach,” he stated. “While our 2013 MoU established initial cooperation parameters, the substantial market growth in 2024 demands an enhanced partnership framework. As a frontline regulator, we recognize the EFCC’s crucial role in providing enforcement support and specialized expertise to combat market abuse and protect investor interests.”
Shobanjo emphasized NGX RegCo’s dedication to maintaining market integrity and expressed confidence that reinforced collaboration with the EFCC would strengthen investor protection mechanisms.
Responding, Olukoyede commended the desire
to strengthen the existing relationship between the two agencies and assured that the Commission was ready and willing to collaborate.
“I know you are also concerned with regulatory compliance because the issue of compliance is a key issue. It is part of our mandate to enforce compliance. Under my administration, we have strengthened our bond with different regulatory bodies. Let’s see how we can have a desk where we can work better and attend to you. I have a special interest in the capital market in respect of the abuse of assets and trades. We will try to review the MoU, make our observations in line with the relevant laws and regulations, and communicate our views to you. We pledge our commitment to this,” he said.
APM Terminals Awards Scholarships to 45 Undergraduate
APM Terminals Apapa, Nigeria’s largest container terminal, has awarded scholarships to 45 undergraduate students from its host community, Apapa, as part of its corporate social responsibility and its unwavering commitment to education and youth development.
The beneficiaries, undergraduates from public universities across the country, were honoured at a ceremony held in Lagos. Additionally, scholarships were awarded to the children of five front-line employees of the company.
Speaking at the event, Terminal Manager Steen Knudsen highlighted APM
Terminals Apapa’s dedication to making a lasting impact in the community.
He emphasised the company’s belief in education as a key driver of progress, noting that the initiative aligns with its mission of improving lives and fostering development in the societies it operates. Knudsen announced the company’s ambition to expand the scholarship program significantly.
“Today, we are supporting 45 students, but our vision is to grow this number to over 250 students within the next 4-5 years. Education is the foundation of the future, and we are proud to contribute to shaping the next generation
Students in Apapa
of leaders,” he said.
Also speaking at the scholarship award ceremony, the Head of People Function, APM Terminals Nigeria, Uzoma Ben-Ude, encouraged the beneficiaries to strive for excellence and make the most of the opportunities provided. She emphasised the importance of boldness and hard work in achieving success.
Senior People Business Partner and Scholarship Program Lead, APM Terminals Apapa, Omolara Olatunbosun described the scholarship as not just a recognition of the awardees’ academic achievements, but also a testament to their character and drive to achieve more.
Access Bank Clinches THISDAY’s ‘Global Bank of the Year’ Award
Sunday Ehigiator
Access Bank Plc, the flagship subsidiary of Access Holdings Plc, has been honoured with the prestigious THISDAY ‘Global Bank of the Year’ award for 2024, recognising its significant impact on the global banking landscape. In addition, the Chairman of Access Holdings, Aigboje Aig-Imoukhuede, received the distinguished THISDAY ‘Titan of the Year’ award for his exceptional contributions to the banking sector in 2024.
At THISDAY Awards 2025, Access Bank emerged victorious, surpassing African
Export-Import (AFREXIM) Bank and United Bank for Africa (UBA) to claim the coveted title.
The award ceremony, held at Eko Hotels & Suites in Victoria Island, Lagos, marked the 30th anniversary of THISDAY Newspapers and the 12th anniversary of Arise News Channel, with the theme, ‘When the Going Gets Tough… The Tough Get Rewarded’.
During his acceptance speech, Access Bank’s Managing Director and CEO, Roosevelt Ogbonna, expressed his gratitude to the public, THISDAY Newspapers, and Arise Media Group
for the recognition.
According to him, “This award represents 30 years of hard work of doing things differently, and of building on the legacy of industry giants like Aigboje Aig-Imoukhuede and Herbert Wigwe. We are deeply grateful to our board, management, customers, and stakeholders, who have continuously supported us. This award is for you, and we accept it in your honour.”
In a similar vein, Aigboje Aig-Imoukhuede, along with 11 other influential leaders, was recognised with the THISDAY Titan of the Year award for 2024.
Over 900 Winners Emerge in FCMB Millionaire Promo
First City Monument Bank (FCMB) is making dreams come true with its Millionaire Promo Season 10. The first draw, held nationwide, saw four lucky customers walk away with N1 million each, while 900 others received cash prizes up to N50,000.
The new millionaires are Issa Aliyu, a farmer from Ilorin, Kwara State; Anthony Ngiah, a businessman from Owerri, Imo State; Aisha Muhammad, an entrepreneur from Kaduna State; and Prosper Chigbu, another businessman from Lagos. Aliyu plans to invest his
winnings back into his business. “This bank doesn’t just talk about helping people; they do it. Winning this money is a real blessing, and I will use it to grow my farm,” he disclosed with excitement. “It will make a real difference.”
Ngiah echoed the sentiment: “Winning the Millionaire Promo is amazing. FCMB has been a great bank to me, and I can’t wait to enjoy every other benefit they offer. I’m excited and cannot wait to see the future of my relationship with the bank.”
Adetunji Lamidi, Divi -
sional Head of Personal Banking at FCMB, spoke on the promo’s importance: “We are excited about the positive impact of Season 10 of the Millionaire Promo and congratulate the 904 winners. Their stories demonstrate how this promo empowers individuals, strengthens our commitment to financial inclusion, and encourages a savings culture. We want everyone to experience this, so we encourage more Nigerians to participate in the promo and explore our other banking solutions designed to help them grow their finances.”
Katsina Woos NGX, to Raise Capital to Finance Key Projects
Kayode Tokede
The Katsina State Governor, Mr. Dikko Radda, yesterday expressed the state government’s determination to partner with the Nigerian Exchange Group Plc and investors on the need to drive investments in critical sectors such as infrastructure, power, agriculture, health, among others.
Speaking to the capital market community at the ‘Closing Gong’ ceremony in Lagos, the
Governor who came with some state delegation, emphasized on his administration’s dedication to raise capital market instruments to drive economic growth and development.
The visit symbolizes the beginning of a strategic partnership focused on unlocking investment opportunities, fostering financial inclusion, and driving sustainable economic development in Katsina State through the capital market.
“Katsina State is poised for accelerated economic transformation,
and partnerships with institutions like NGX Group are essential in realizing our vision.
“We are keen on exploring Sukuk bonds, infrastructure bonds, and green bonds to finance key projects, attract investment, and create economic opportunities within the state.
“By deepening our engagement with the capital market, we can unlock funding for critical infrastructure, drive industrialization, and generate employment for our people,” Governor Radda
affirmed.
Welcoming the Governor and his delegation, Group Chairman of NGX Group, Dr. Umaru Kwairanga commended Governor Radda’s administration for its forward-thinking policies, particularly the launch of the Katsina State Development Plan.
He highlighted the crucial role of the capital market in mobilizing investment and securing long-term financing for critical projects.
“The strategic roadmap set by Katsina State reflects a strong
commitment to structured and sustainable development.
The capital market serves as a vital enabler, providing access to financing that will drive industrialization, infrastructure development, and overall economic prosperity,” Kwairanga added.
Also speaking at the event, Group Managing Director/ CEO of NGX Group, Mr. Temi Popoola restated the Group’s commitment to transforming Nigeria’s capital market land-
scape through innovation and technology.
“We are building an Exchange that extends beyond traditional securities trading. By leveraging technology, we are enhancing market accessibility, attracting capital, and creating new investment opportunities.
“Our goal is to develop a dynamic, inclusive, and globally competitive capital market that supports national and subnational economic growth,” Popoola stated.
POLITY
Warri Refinery: NNPC and the Triumph over Scepticism
Emmanuel Akanni
After a decade-long closure, the Warri Refining & Petrochemicals Company in Delta State resumed operations on December 30, 2024, to the astonishment of everyone present at the vast refinery complex in Ekpan, Warri. The event was marked by the presence of key figures, including the Board Chairman of NNPC Limited, Chief Pius Akinyelure; Group Chief Executive Officer Mele Kyari; the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed; and the Managing Director of WRPC, Efifia Chu. These leaders, alongside excited workers and journalists, were on hand to witness the successful startup of the refinery’s CDU, Gas Plant, and VDU, commonly referred to as Area I.
The reopening sparked palpable excitement, with Harry Okenini, Chairman of the Delta State chapter of the Independent Petroleum Marketers Association of Nigeria, unable to contain his joy. He shared that before coming to the refinery on that day, he had first made a stop at a church to offer thanksgiving, uncertain if the news of the refinery’s revival was true.
The celebratory mood at the refinery, which has a capacity of 125,000 barrels per day, could be likened to the remarkable and rare recovery of a patient from a 10-year coma. Given the troubled history of government-owned refineries in Nigeria, the Warri refinery’s revival after such an extended closure was seen as nothing short of extraordinary. Many had believed that only privatisation could bring about a change in the fortunes of these refineries, with the argument that the government should not be in the business of running businesses.
However, despite such doubts, the Federal Government, under President Muhammadu Buhari, had committed to reviving the country’s four stateowned refineries, which collectively have a capacity of 445,000 barrels per day. This included plans for the 110,000 bpd Kaduna refinery, the 60,000 bpd Old Port Harcourt refinery, the 150,000 bpd New Port Harcourt refinery, and the Warri refinery. Despite the government’s assurance, many were sceptical, given the history of neglect, poor management, and failed multi-billion-naira maintenance projects that had plagued these facilities for years.
The Bureau of Public Enterprises had reported that the Warri refinery had never achieved full capacity utilisation, and after years of decline and shutdown in 2015 due to disrepair and crude shortages, many dismissed the government’s pledge to revamp it as political rhetoric.
Thus, when Mele Kyari, the NNPC GCEO, toured the facility on December 30, 2024, and declared, “This plant is running. We have not completed 100%,” it was a strong affirmation of the resilience and determination of NNPC under his leadership. It was the triumph of resilience in an NNPC known prior for turnaround maintenance scandals running
into billions of naira.
The Warri Refinery resumed operations months after the NNPCL successfully restarted the 60,000-barrelper-day Old Port Harcourt Refinery, which had been dormant for over 30 years. The revival of the Port Harcourt refinery was initially met with scepticism, fueled by critics who sent misleading signals to the public, casting doubt on the claims made by NNPC Ltd. that the refinery was operational.
Mele Kyari, who had encouraged stakeholders— including labour unions and federal lawmakers—to visit the Port Harcourt refinery and verify NNPC’s claims, had confidently pledged that the Warri and Kaduna refineries would soon follow suit, to the dismay of the doubters. And, despite numerous challenges, he delivered on these promises.
The revitalisation of these refineries exemplified resilience, overcoming years of neglect and adversity, and making a lasting impact on Nigeria’s oil industry.
Kyari’s leadership will be remembered for slaying the proverbial dragon—the moribund refineries—that had long defied solutions. Revamping the refineries has become one of his most significant achievements, with profound and enduring effects.
Recognising the monumental task of operationalising two refineries that had been inactive for decades, the Nigeria Extractive Industries Transparency Initiative (NEITI) commended Kyari’s leadership at NNPC for its determination, transparency, and focus in delivering the first phase of the Port Harcourt
refinery rehabilitation and the gradual resumption of operations at Warri.
“We commend the leadership of the NNPCL team for their resilience, dedication, and unwavering determination in executing this complex and challenging task,” said Obiageli Onuorah, the acting Director of Communication and Stakeholders Management at NEITI.
NEITI further acknowledged that the revitalisation could significantly enhance energy security, create jobs, stimulate local industries, and free up vital funds for health, education, and infrastructure.
The agency also urged NNPC Ltd. to accelerate the second phase of the Port Harcourt refinery’s rehabilitation and the ongoing work at the Kaduna refinery.
President Bola Tinubu, speaking through his Special Adviser on Information and Strategy, Bayo Onanuga, applauded NNPCL for this achievement.
“The restart of the Warri Refinery brings joy and hope to Nigerians. This milestone will further strengthen the confidence of Nigerians in the brighter future we promised. It is a remarkable way to end the year, following the earlier success with the old Port Harcourt Refinery. I am pleased that NNPCL is implementing my directive to restore all four refineries to full working condition. I congratulate Mele Kyari and his team at NNPCL for their hard work in restoring our national pride and positioning Nigeria as a hub for crude oil refining in Africa.”
Tinubu expressed confidence that, with the Warri refinery now operating at 60% capacity, the administration’s comprehensive energy plan was on track.
The President also called on NNPC Ltd. to expedite repairs at the Kaduna Refinery and the 150,000-barrel-per-day second Port Harcourt refinery to further strengthen Nigeria’s position as a global energy leader.
To avoid any further controversy about the operational status of the Warri refinery, I visited the facility myself and can confirm it is indeed functioning at 60% of its installed capacity, as declared by Kyari. The refinery is currently producing diesel, gas, and kerosene.
During my visit, I witnessed Bayo Adenrele, Refinery Coordinator at NNPC Ltd.; Isiyaku Abdullahi, EVP of Downstream at NNPC Ltd.; and Mele Kyari, the NNPC GCEO, overseeing the loading of refined products at the WRPC’s loading terminal. They tested the smart meters installed at the loading point, ensuring that product theft would no longer be an issue.
Similarly, Harry Okenini, Chairman of IPMAN in Delta State, confirmed that his members were already lifting automotive gas oil (diesel) and kerosene from the refinery.
“For now, only diesel (AGO) and dual-purpose kerosene (DPK) are being produced and loaded for consumption. We expect cooking gas, PMS, and other products to come on stream by February,” Okenini said.
Israel Omokere, National Chairman of Surface Tank and Kerosene Peddlers (a branch of NUPENG), echoed the same sentiment, confirming that the loading of AGO and DPK is ongoing, with PMS expected soon.
One noteworthy aspect of my tour of the Warri refinery was the high level of safety standards in place. The NNPC Ltd. has prioritised safety across the facility. Visitors were given thorough safety briefings and required to don safety outfits, boots, and helmets before being allowed to proceed.
Efifia Chu, the Managing Director of WRPC, conducted the tour, starting at the modern control room where all refinery operations are monitored. A second safety briefing was conducted before moving to the Area 1 section of the refinery, where strict rules were enforced, including a ban on mobile phones, to ensure safety during the collection of refined products at the CDU, Gas Plant, and VDU. The security details of the VIPs on the tour were also enjoined to adhere strictly to safety rules to ensure the safety of all and sundry and the facility.
The NNPC Ltd., WRPC management, and the safety officials on the ground deserve commendation for the safety measures entrenched and enforced at the refinery.
There have been calls for the revamping of the second Port Harcourt and Warri refineries, Kyari should heed the calls and deliver as promised.
•Emmanuel Akanni, an energy analyst, writes from Lagos.
Oluremi Tinubu Lauds Kwara Gov for Creating Opportunities for Women,Youths
Nigeria’s First Lady, Senator Oluremi Tinubu, yesterday lauded the Kwara State Governor, Abdulrahman Abdulrazaq, for creating opportunities for enterprise and productive engagement of youths and women in the state.
Senator Tinubu made the commendation in Ilorin during a tour of a garment factory, a signature project of the AbdulRazaq-led administration. The visit to the factory by Tinubu ended her three-day working visit to the State.
“What your governor has done is to create opportunities for enterprise and productive engagement of youths and women. I want you to work hard and become successful. I’m here purposely to encourage you to make this a huge success for yourself and for your state,” she said.
She later interacted with workers of the factory, telling them to make the most of the foresight of the governor by working hard and gave the hundreds of workers a stipend of N20,000 each for “your lunch”.
The aircraft of the first lady left the tarmac of the Tunde Idiagbon International Airport at exactly 2:22
p.m., followed shortly by the wife of the Vice President Nana Shettima and other members of her entourage.
The third day of the visit began with a launch of the Free to Shine Campaign, an initiative of the Organisation of African First Ladies (OAFLAD) that is mobilising support to end new HIV infections and protect children and women.
The first two days of the visit were spent inaugurating different iconic projects of the Abdulrazaq administration, leading the groundbreaking ceremony for another one, and visiting a few others.
Some of these projects included an Intensive Care Unit; Dr. Amuda Aluko Ward; Gen. Tunde Idiagbon Flyover; and Dr. Ibrahim Sulu-Gambari Flyover.
The First Lady also had a dinner at the remodelled Flower Garden, an activity that holds a symbolic importance in how the Governor has made positive turnarounds for many state facilities. She had on Tuesday launched an ICT Community Centre executed by the NITDA in collaboration with her Renewed Hope Initiative (RHI).
On Wednesday, she flagged off
the construction of the Oluremi Tinubu Hospital, a major project of the government, and toured the Ilorin Innovation Hub, an imposing facility which already attracted important partnerships from tech giant IHS Towers and the United Nations Development Programme (UNDP). She also visited the Sugar Factory Film Studio, commending the governor for his transformative agenda
Even his fellow deities live in dread of him. Orunmila, the witty interlocutor, once joked, Orisa ti Sango o ba le mu, ere l’omo sa (the divinity Sango cannot pounce on it, must be a fast runner).
At the 7th year ceremony of his installation about two weeks ago, my friend, Iba Gani Adams took time to dispel the fear of premature death that had somehow become synonymous with the commander-in-chief title of Aare Ona Kankanfo of Oyo empire. In reality, as he took time to clarify, this is more a myth than substance. This notion is grounded in the fate of Afonja and the two penultimate holders of the title (Ladoke Akintola
and pledging a donation of N350 million to support the production of a movie inspired by local cultural legacies and values.
Speaking at the Free to Shine programme, Tinubu said the campaign was designed to significantly reduce the number of new HIV and other new infections among women of reproductive age, prevent mother-to-child transmission, and to
and Moshood Abiola, by which time the title had become a relic, nonetheless a prestigious one). Instituted by Alaafin Ajagbo in 1560, it has had a very colourful history which reached a climax with Afonja, the tragic antihero. Kakanfo Edun of Gbogun, also played the stool pigeon against the brave Alaafin Oluewu. The immediate occasion for this column today was the appointment of a new Alaafin. The choice of the factionalised electoral college (the seven member council of the kingmakers) was Prince Lukman Gbadegesin, who had enough resources and inclination to compromise the kingmakers. In full knowledge of what had transpired, the
guarantee that every child born with HIV receives the necessary treatment and support to strive.
She said Nigeria shares the highest burden of the spread of HIV in subsaharan Africa, particularly among the youth, women, and children, adding this was partly as a result of the rise in population.
“To complement the Free to Shine campaign, I have also decided to
approving authority, Governor Seyi Makinde of Oyo State, discountenanced the recommendation and sought the intervention of Professor Wande Abimbola. They don’t come better recommended. Abimbola is incorruptible and an outstanding achiever in his own right as a reputable scholar.
More unique is that he is a native of Oyo and holds the consequential title Araba (the presiding babalawo of Oyo). At the request of Makinde, and as tradition requires, he consulted Ifa on who best the crown fits.The process yielded the name of Prince Hakeem Owoade who consequently met with the approval
advocate for the triple elimination of HIV, Syphilis and Hepatitis. This campaign will be held across the six geopolitical zones of the nation,” the First Lady said.
AbdulRazaq, for his part, commended the First Lady for championing the OAFLAD Free to Shine Campaign to end new infections in children and ensure that mothers stay alive.
of the Governor. The increasing marginalisation of this cultural instrument in the specification and selection of kings corresponds to the tragic fall in the quality of contemporary traditional rulers across Yoruba land. This is consistent with the view that ‘Ifa remains the most systematized and authentic source of clarifying significant Yoruba matters, in all aspects of life’ Just as it was the case with his predecessor, the role accorded Ifa in this process is a manifestation of the sociological continuity from pre colonial Yoruba society to contemporary post colonial Nigeria; a functional state-society continuity.
GROUND BREAKING FOR THE PLATINUM SHOPPING COMPLEX...
L-R: Secretary to the Lagos State government, Mrs. Abimbola Salu-Hundeyin; Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Lagos Governor, Mr. Babajide Sanwo-Olu; and Managing Director, MGE Realty, Engr Bolaji Adebajo, during the ground breaking for the Platinum Shopping Complex, at Iyana Iba Road, Ojo, Lagos...recently
I’d Still Criticise APC If I Was in Tinubu’s Cabinet, Nasir El-Rufai Tells Daniel Bwala
Says president knew he was not interested in his future government
Former Kaduna State governor, Mallam Nasir el Rufai, yesterday, replied to a presidential media aide, Daniel Bwala, that he would still have criticised President Bola Tinubu’s government if he was a member of his cabinet.
He insisted that the ruling All Progressives Congress (APC) lacked internal democracy and active party structures.
Two days ago, Bwala had responded to El-Rufai’s criticisms of the Tinubu government and asked if the former governor would have
aired such criticism. if he was in the system.
El-Rufai had said among other things that, “You cannot afford to have illiterates, semi-illiterates, and cunning people as your leaders. This is why we end up with the poor leadership we have today,” he had said, criticising the leadership of the party.'
Bwala, too, responded on X and said El-Rufai would not have expressed such a position if he were in the cabinet of the President.
“My Senior brother, if you were to be in the government and cabinet,
would you have held and expressed the same position? History is replete with examples. It is a government you participated in its formation, that you now want to unseat. Haba Mallam,” he said.
Replying to Bwala on X, El-Rufai said, “I was cabinet minister 22 years ago, and was clear to Asiwaju that I was not interested in any position in his future government.
''The pathetic manner all of you latter-day converts to the Tinubu government make an issue of something that I never wanted in the first place is perhaps a reflection of the level of
FG Warns Illegal Miners to Stop Storing Explosives
Olawale Ajimotokan in
The federal government, has issued a warning to the public regarding the storage of explosive materials in residential areas for the purpose of illegal mining.
Minister of Information and National Orientation, Mohammed Idris, handed this caution during a visit to Sabon Pegi, Niger State, yesterday.
He expressed condolences to residents affected by a dynamite explosion that occurred on Monday, resulting in fatalities and significant damage to property.
The minister was among several prominent officials on the visit, including the Niger State Governor, Mohammed Umaru Bago; former governor and current Senator for Niger North, Alhaji Abubakar Sani Bello; and the Speaker of the Niger State House of Assembly, Alhaji Abdulmalik Sarkin-Daji.
He emphasised that the storage of explosive devices for illegal mining activities presented considerable dangers to both lives and property.
He urged individuals engaged in such practices to cease immediately, noting that President Bola Tinubu
had instructed the Federal Ministry of Solid Minerals Development to reform the sector to mitigate these illegal activities.
“These are tragedies that are virtually man-made and we cannot allow that to continue and the president has directed that the National Orientation Agency steps up its campaigns and advocacy and enlightenment to all Nigerians, particularly those in this illegal mining activities. This community is endowed with a lot of mineral resources.
“Only recently, the Federal Ministry of Solid Minerals Development, has embarked on re-organisation of mining activities around the country and we do hope that they will take this lesson very seriously,” Idris said.
He also relayed the president's concern regarding the recent increase in disasters nationwide, indicating that he had directed the National Orientation Agency to bolster its public awareness initiatives to avert similar occurrences.
“First and foremost, we have to understand that this kind of tragedy is happening just too many times in our country, and the president is deeply saddened and he has instructed that the National Orientation
Agency carries out advocacy and enlightenment campaigns, especially among these rural communities to avert the recurrence of this,” he said.
your moral flexibility.
“If I had remained in the Tinubu government, I will say or do the same on the tragedy within a party I was a founder, and the government that emerged from it – first in private sessions with those concerned, and
then go public if no remedial actions are taken. Go and check my public service record from 1998.”
Tinubu had nominated El-Rufai for a ministerial portfolio in August 2023 but the ex-governor’s nomination was rejected by the Senate.
Since the incident, El-Rufai has not been seen in a gathering of APC chieftains. The former governor has also not been seen around the Aso Villa, the seat of power, or near the president whom he vigorously campaigned for in the last poll.
Agwai: Right Leadership Key to Tackling Insecurity in Nigeria
Chairman of the Middle Belt Brain Trust (MBBT) and former Chief of Defence Staff, General Martin Luther Agwai (rtd), has observed that the number of internal crises being experienced in several countries globally has exceeded the number of conflicts of external aggressions.
He said this has made it imperative for the right leadership to be placed at various units of government in order to prevent such crises before they get out of hand.
Agwai, who spoke at a two-day conflict sensitivity training for local government chairman and top LG officials, which held in Pankshin, Plateau State, said leadership plays a key role in attaining peaceful coexistence in communities.
The general, who identified some of the causes of conflicts blamed the tendency by people to copy what they see on social media.
“The world has become a global village. People can view developments from everywhere through the social media and this has come with
its challenges,” adding that one of the challenges of the social media on security is the copycat syndrome, where he said people tend to copy what they see happening in other climes.
He recalled that when he was Chief of Army Staff and was in the process of transforming the Nigerian army, he noticed the changing nature of violent conflicts in other parts of the world, where people tie explosives on themselves and detonated them to exert damage on others.
Adoption of State Police Fraught with Landmines, Says Ex-Osun Speaker
Hammed Shittu in Ilorin
As agitations for constitutional adoption of state policing continues in the country, constitutional lawyer and former Speaker of the Osun State House of Assembly, Professor Mojeed Alabi, yesterday, said the road to full adoption of state police is fraught with landmines that need to be successfully scaled before the government can arrive at the promised land.
Alabi however added: "Unless these landmines are addressed, policemen operating under different control may be nothing more than armed groups for contestations arising from political, religious,
ethnic or other differences.”
Prof. Alabi who is now Provost, College of Law at Osun State University (UNIOSUN) expressed this position in Ilorin, the Kwara State capital, on Thursday during the national conference on "Restructuring the Police Architecture in Nigeria: Is State Police the Only Option?"
The conference was organised by the Institute of Legislative Studies of the University of Ilorin (UNILORIN).
He said: "Apart from the much-anticipated amendment of the constitution, there is need for robust legal frameworks to guide the ensuing regime.
"The legal frameworks should also state clearly the scope of the
respective powers of the national and the state assemblies in making laws on policing as well as the funding sources for maintaining the polices as part of the critical structures for governance.
"The legal framework will need to harmonise the policing infrastructure in a manner that promotes collaboration at all levels rather than mutual acrimony and antagonism as has become commonplace in inter-agency rivalry among the security forces even under the centralised policing arrangements currently in existence.
"Also, the National Assembly must be able to put in place an Act that will properly delineate the scope of the respective jurisdictions
of the federal and the state polices in order to avoid conflict of interests in the use and deployment of police forces.
While recommending the establishment of a police commission at the level of the federation, Prof. Alabi stated: "The commission will be responsible for training and certification of policemen and creation of a pool from which any units of government can recruit men and officers as may be needed."
Alabi, a former member of the House of Representatives between 2015- 2019 added: "The issue of training, discipline and control of policemen must also be taken seriously.
PRESENTATION OF LETTERS OF CREDENCE TO THE PRESIDENT...
DSS Arrests Two Lagos Lawmakers, Others at Large for Speaker’s Removal Palaver
Obasa stands removed, legislators insist
Segun James
The crisis rocking the Lagos State House of Assembly, took another
dimension following the arrest and detention of two lawmakers by the men of the Department of State Security (DSS).
Two Lagos lawmakers, Hon. Lanre Afinni and Hon. Sylvester Ogunkelu, were facing police interrogation in connection with the crisis that led to the removal of the former State House of Assembly speaker, Mudashiru Obasa.
This was as members of the assembly have reiterated that that Obasa stood removed, in spite of his attempts at forcing his way back to the headship of the legislature.
accordance with the provisions of the 1999 Constitution of the Federal Republic of Nigeria and the Powers and Privileges Act, which empower the State Assembly to regulate its internal proceedings without external interference.
friendly invitation. We appreciate the Lagos DSS Command, especially the Director, for ensuring a smooth and respectful engagement. The process allowed us to give a clear recount of events in a comfortable and professional environment.
while Hon. Temitope Adewale (Jah) has also been summoned.
Michael Olugbode in Abuja
The Controller-General, Federal Fire Service, Abbdulganiyu Jaji, has said all fuel tankers and vehicles transporting flammable substances should be equipped with Anti-Spill Locks to prevent fuel spillage during accidents, thereby reducing the risk of explosions.
He stated this at the opening ceremony of a career progression training for personnel of the service in Abuja.
Concerned by the spate of explosion of fuel tankers, which has led to death of scores, Jaji said,
“These incidents are preventable, and it is imperative to stop it.
“To this end, I recently engaged with the Corps Marshal of the Federal Road Safety Corps (FRSC), Shehu Mohammed, to discuss practical solutions to these challenges.
“Our discussions emphasised the urgent need for regulatory enforcement, regular vehicle inspections, functional fire extinguishers in tankers, and strict adherence to safety standards.
“It is also crucial that drivers undergo thorough evaluations to ensure they meet the highest professional standards.”
The Lagos Assembly has been in the news since January 13 when Obasa was removed by a majority of members and replaced with the former Deputy Speaker, Mojisola Lasbat Meranda, while Obasa was away in United States.
Members of the Assembly, who honoured an invitation from the Lagos Command of the DSS in Shaginsha, in a statement by Hon Ogundipe Stephen Olukayode, said they visited the DSS to provide insights into the situation on the removal of the former speaker.
"At the DSS office, we reaffirmed our commitment to upholding constitutional governance following the removal of the former Speaker.
"The decision was made in
Segun Awofadeji
Francis
Sardauna in Katsina
The Director-General, National Youth Service Corps (NYSC), Brigadier General Yushau Ahmed, has said corps members would start receiving the new monthly allowance of N77,000 this February, 2025. Ahmed, who disclosed this yesterday while addressing the 2024 Batch ‘C’ Stream 11 corps members in Katsina, said the allowance has been captured in the 2025 Federal Government’s budget.
“This month (January) has already ended, but once the budget is passed. By next month (February), you will start receiving N77,000 instead of the usual N33,000,” the NYSC DG said.
He explained that the N77,000 monthly allowance was approved by the federal government and urged the corps members to reciprocate the government's gesture during their service year.
He emphasised his commitment to the welfare and security of corps members across the country, assuring them that they would not be deployed to security threat communities for their service.
“We will not send our corps members to wherever we have challenges of security threats. Wherever we send them, they should be less assured that the place is safe and secured for them to serve,” he said.
The reconciliation committee of the Peoples Democratic Party (PDP), yesterday, moved to Bauchi State to meet the three governors from the North East region and other party stakeholders.
The party reaffirmed its political maturity and experience in overcoming self-inflicted challenges.
Speaking at the Northeast PDP Zonal Caucus Meeting in Bauchi, Acting National Chairman of the party, Ambassador Umar Ilya Damagun, assured members that the party remained committed and resolute despite the current internal crisis.
He emphasised that reconciliation efforts were ongoing to foster unity
“Sections 92 and 96, outline the process for the election and removal of the speaker, and due process was followed in our decision. It is also in public knowledge that legislative autonomy was granted to State Assemblies, ensuring that elected representatives can conduct their business freely within the chambers assigned to them.
"The Lagos State House of Assembly, as an independent arm of government, has exercised its constitutional duty in the best interest of the people of Lagos.
“The decision to remove the former Speaker was made through a democratic process, with the required majority as stipulated by law. Any attempt to challenge this lawful action undermines the authority granted to us by the Nigerian Constitution.
"We commend the professionalism of the DSS office in their
and reduce divisions ahead of the upcoming National Convention.
The reconciliation committee chairman and former National Secretary of the PDP, Olagunsoye Oyinlola, stressed that the party was more than ever before poised to address the challenges facing the part.
He added that the move was aimed at fixing everything humanly possible to wrest power from the ruling All Progressives Congress (APC) come 2027 general election.
The former two term governor of Osun State held a meeting with the governors of Adamawa, Bauchi and Taraba States on the best way to go about reconciling all the warring groups within the party.
According to him, the main
"All members of the Assembly earlier detained have now regained their freedom.
"We reiterate our commitment to legislative duties that serve the interests of Lagosians, ensuring effective governance and the continued development of the state. We call on all stakeholders, including the executive arm and the public, to respect the sanctity of legislative proceedings and refrain from undue interference.
Meanwhile, a group, Lagosians and Concerned Citizens (LCC), in a statement titled, “The Strangulation of Democracy By Evil Forces: A Call to Protect Lagos Legislature,” signed by Omoba Murphy Ajibola, has decried the developments, highlighting the detention of the lawmakers as disturbing.
Hon. Lanre Affinih, who was also invited for questioning was later released on health grounds,
purpose of the Committee was to reach out to the aggrieved party members and those having issues with the party in order to reestablish a formidable political party in the country playing the role of a virile opposition.
He added that the move was to ensure that the PDP bounced back to power in the next general election, a development he said could be done and was achievable if all the members would allow reason to prevail.
Commending the three governors for their efforts in strengthening the party, Oyinlola urged them to as leaders deepen the reconciliation processes.
Responding on behalf of the governors, Adamawa State Governor,
According to the group, these actions appeared to be part of a broader strategy to pressure the Assembly into overturning the removal of Obasa. They alleged that powerful individuals were orchestrating these arrests to influence legislative decisions, warning that such interference threatens the autonomy of the Legislature and the democratic process itself.
“This orchestrated campaign against elected representatives is not just an attack on individual lawmakers; it is an assault on democracy.
“The Legislature exists to check executive power and represent the people. When lawmakers are intimidated or arrested under questionable circumstances, democracy is at risk,” the group stated.
The group further warned that if Lagos—Nigeria’s economic and political nerve center—succumbed to such alleged power play, it could set a dangerous precedent for the country’s democracy.
Ahmadu Umaru Fintiri, described the activities of the Committee as timely considering the lingering problems tearing the party apart. He stressed that the party could only bounce back and reclaim its leadership position through collective efforts urging all aggrieved parties to come to the roundtable in order to reconcile and move on. Governor Bala Mohammed of Bauchi State also expressed confidence in the party's strength and pledged the governors' support in fortifying its structure. The Northeast PDP Zonal Chairman, Rev. Emmanuel Bovoa and Senator Abdul Ningi, urged party members and leadership to remain committed to the ideals of the PDP.
Tribunal Admits BVAS Machines Used in
133 Polling Units During Edo Guber Poll
The Edo State Governorship Election Petition Tribunal, sitting in Abuja, yesterday, accepted Bimodal Verification Accreditation System (BVAS) used in 133 polling units during the conduct of the September 21, 2024 governorship election in Edo State.
The three-member panel of the tribunal led by Justice Wilfred Kpochi, accepted the BVAS machines shortly after they were tendered by an official of the Independent National Electoral Commission (INEC).
The presentation of the BVAS machines were sequel to a subpoena by the tribunal made on January 9, 2025, directing INEC, which is the 1st respondent in the suit filed by the Peoples Democratic Party
(PDP) and its candidate in the last governorship poll, Mr Asue Ighodalo.
One of the grounds upon which the petitioners were challenging the declaration of the candidate of All Progressives Congress (APC), Senator Monday Okpebholo,as governor was alleged over voting, which the BVAS machine was expected to address.
At the resumed hearing of the petition, the PDP, after calling two witnesses drew the court's attention to the compliance of INEC to the order, adding that its next witnesses would be given evidence in respect of over-voting and would need the BVAS machine in that regard.
Presenting the machines, an INEC official from the Information Communication Technology (ICT)
Department, one Anthony Itodo, who claimed to be a Senior Technical Officers, informed the court that in compliance with its orders, "what I have brought here is a total of 148 BVAS machines used in 133
polling units."
Responding, petitioners' lawyer, Robert Emukpoeruo, SAN, told the court that what the official told him was 151 machines.
However, INEC lawyer, Chief
Kanu Agabi, SAN, explained that while 151 machines were brought, only 148 applied to the 133 polling units.
While INEC did not object to the submission of the devices, lawyers
to the governor and APC objected, adding that their reasons will be made known later. In a short ruling, the threemember panel accepted the devices as exhibits.
Nurses Begin Indefinite Strike in Ondo
The National Association of Nigerian Nurses and Midwives (NANNM), Ondo State Council, yesterday ordered its members to embark on an indefinite strike in all state government’s health facilities.
The association’s leadership took the decision in Akure at an emergency meeting.
A press release issued by the Chairman, Felix Orobode and Acting Secretary, Lucky Aremu, cemented the decision of the union, directing its members to stay off duty from 12:00am Friday of January 31, 2025 until their demands are met by the stateThegovernment. statement noted that the demands of the union include: Payment of the balance of January 2025 salary
CARDOSO: NAIRA’S RECOVERY ATTRACTING FOREIGN INVESTORS
interventions in the past, but maybe we have gained knowledge to calibrate and ensure that we do better in a way that will support further growth in domestic production because the transmission mechanism between domestic output and productivity gains, and inflation effort is very strong.”
He emphasised that the administration's economic reforms were working and had set the economy on the right path of inclusive growth and development, as acknowledged by global business leaders and rating agencies.
Bagudu stated, “Mr Governor, we were in Saudi Arabia with your deputy on Christmas Eve. As Nigerians, we have every reason to congratulate ourselves. We met with three ministers, who acknowledged that we are undertaking reforms even bolder than theirs because they recognise they are a monarchy.
“So, they withdrew petroleum, electricity, and B80 subsidies at 15 per cent, including on food, to turn their economy in the right direction. But they acknowledge that we have done more in the last 18 months. And given that we are facing an election, they reckon our challenge was even more than theirs.
“That is the biggest thumb among all the international rating agencies that have told us we can do this together. I thank you for inviting us. And this handshake, I believe, will continue to evolve into a better mix of policies that will create deflation and generate double-digit inclusive growth.”
*FIRS collect records
Meanwhile, Adedeji while addressing top management staff at the retreat, said the revenue agency will
position technology as a central driver of tax administration by expanding integrated systems for end-to-end digital processing, enhancing taxpayer platforms for seamless access, and leveraging emerging technologies for audits, compliance, and fraud detection to unlock new revenue opportunities.
He warned that every department in the service must achieve their key deliverables, adding that the era of setting targets and not meeting such was over. Adedeji said the retreat was organised to map out strategies and deliverables for the year.
He further described FIRS as a cornerstone of the nation's economic stability, a vital pillar upholding the country’s progress, and an agent of renewed hope for all Nigerians.
He said, “But let me remind you that this success is not just ours to celebrate. The FIRS is more than a revenue authority.
“Our work enables the delivery of critical infrastructure, social services, and opportunities that transform lives. We are not just staff members; we are agents of the nation, entrusted with a responsibility that goes far beyond the walls of this organisation.
“The year 2024 was pivotal in laying a solid foundation for transforming the Federal Inland Revenue Service into a globally recognised, efficient, and trusted revenue authority. It marked a period of strategic growth, positioning the service as a cornerstone of Nigeria's economic progress.”
He encouraged the staff to step confidently into 2025 with the momentum of these achievements with renewed energy, clear vision, and a meticulously designed roadmap.
Adedeji said the service will focus on consolidating and institutionalis-
ing its internal strengths to ensure long-term resilience and operational excellence in the year.
He said, “This year, our mission is both ambitious and transformative: to build a service of excellence defined by the expertise of our people, the modernization of our facilities, and the innovative use of technology to enhance our processes.
“This mission is not just about sustaining our success but about consistently elevating our impact and solidifying our position as a model revenue authority on the global stage.
“To achieve this, we have outlined a strategic roadmap, anchored on three critical pillars:
capacity building and training: We will empower our workforce with the tools, knowledge, and skills needed to excel in modern tax administration.”
He added that through targeted, high-impact training programmes, aligned with global best practices, “we will enable you to navigate complexities, embrace innovation, and provide stellar service to taxpayers”.
He said the service we continue to invest in revitalising its workspaces, ensuring they reflect the vision of a worldclass institution, stressing that from modernised offices to sustainable practices, “our facilities will serve as an environment that fosters excellence and productivity.”
He also emphasisied that technology will drive its transformation in 2025, expanding its integrated tax administration systems, unifying national platforms on collection, leveraging emerging technologies.
He said by enhancing taxpayerfacing platforms, the service will create seamless, efficient, and transparent processes that redefine the taxpayer
experience.
He pointed out that these strategic pillars are not abstract ideas but practical, actionable objectives that will be realised in every group, department, and operation within the service, adding that “They represent a unified direction for the FIRS, one that prioritises excellence, innovation, and impact”.
He added, “So, let us embrace 2025 with courage and purpose, turning challenges into opportunities and possibilities into achievements. Together, we will propel FIRS to unparalleled heights, setting a new benchmark for distinction and redefining what success means.”
as agreed, with the 100 per cent new salary table.
“Correction of the 2022 Conversion Exercise where our members were indirectly demoted and lateral (point to point) conversion in subsequent Conversion Exercises. – Payment of the arrears of Promotion and Hazard Allowances.
“Resumption of negotiation on Uniform Allowance for Nurses as captured in the Public Service rule.
The government’s refusal to address nurses’ welfare has left us with no other option but to take this action.
Nurses can no longer endure the financial and professional neglect that has characterized our relationship with the government," the group said.
NANNM stressed that the indefinite withdrawal of its services is not just a stand for better salaries but a demand for justice, equity, and recognition of the pivotal role nurses play in the healthcare system.
"It is imperative to underscore the troubling trend where professionals in the healthcare sector, particularly the nurses and midwives, are leaving the service of Ondo State. This exodus is not limited to migration abroad; many are also moving to the Federal Health
Institutions and neighbouring states that offer more attractive working conditions and improved remuneration packages.
"This brain drain poses a significant challenge to the state’s healthcare delivery system, as well as to the broader public service, requiring urgent attention and intervention to retain skilled personnel and ensure the sustainability of essential services for the people of Ondo State.
"Since the year 2023, various engagements have been held with the government where we tabled our demands but none of them was thoroughly addressed. These demands include: lateral conversion for our nurses with first degree certificate, uniform allowance for Nurses as captured in the Public Service Rule.
“Also, payment of arrears of promotion and hazard allowances, conducive environment of our health facilities with provision of adequate hospital equipment to work with and proper placement/remuneration of our nurses and midwives".
It stressed that despite numerous rounds of negotiation, unwavering patience and significant concessions made by the association, the government refused in honouring its commitment.
Ogoni Youths Support Planned Resumption of Oil Exploration
Blessing Ibunge in Port
A group under the aegis of Ogoni Youths Stakeholders (OYS) has expressed its support for the planned resumption of oil exploration in Ogoniland in Rivers State.
The youths of Babbe, Eleme, Gokana, Ken-Khana, Nyokhana and Tai Kingdoms, together with the Bori Capital Territory and Ban Ogoi Special Area of Ogoniland and other Niger Delta Communities, after a an extraordinary meeting of the body in Port Harcourt, said the move would revive economic activities in Ogoni.
Reacting to the recent meeting of stakeholders from Rivers on the planned oil resumption, the group regretted their non-involvement in the meeting presided by President
Bola Tinubu, in Abuja.
The Convener of the group, Leborsi Yamaabana, who is also the President General of OYF, while reading the resolution of the meeting, said the group backed the move to resume oil business at Oil Mining Lease (OML) 11/51 Ogoni Fields. They commended the National Security Adviser (NSA), Nuhu Ribadu, the Governor of Rivers State, Siminialayi Fubara and the Minister of FCT, Nyesom Wike for embarking on the process to assemble the Ogoni delegation, for the meeting in Abuja.
Yamaabana said the youths welcome the idea, but regretted that youth were not carried along in the meeting that would shape the feature of the people, expressing confidence that the model to be adopted would
favour the oil bearing communities. He said: "We welcome the idea of oil exploration activities in Ogoniland, as we believe the modus operandi this time would be different from what was obtainable in the past. We shall support our leaders to make this come to pass.
"Ogoni Youth Stakeholders observe with mixed feelings the fact that a critical component of youths and women stakeholders were excluded from the meeting with the President. "However, we are not opposed to oil production and therefore express confidence in the National Security Adviser’s appointment to deepen this conversation whilst urging him to harmonize and bring together all stakeholders’ interests, particularly young people, for a smooth and robust discussion for results."
PROMASIDOR NIGERIA’S MEDIA PARLEY…
L-R: Corporate Affairs and IDF Director, Promasidor Nigeria, Dr Eno Udoma-Eniang; Chief Executive Officer, Francois Gillet; Corporate Affairs Officer, Aijalen Favour, and Head, Regulatory and Government Affairs, Dr Chineneyem Obasi-Obonga, during Promasidor Nigeria’s media parley held in Lagos…. yesterday SUNDAY ADIGUN
RULAAC to Police: Weed Out Corrupt Personnel Rather than Hounding Critics
Linus Aleke in abuja
The Rule of Law and Accountability Advocacy Centre (RULAAC) has asked the Nigeria Police Force (NPF) to address the well-known problems of police corruption and abuse of power rather than hounding critics.
A statement by Executive Director RULAAC, Okechukwu
Nwanguma, stressed that the police authority must address this pervasive malaise of criminal policing and impunity rather than harass and intimidate those who call them out demanding accountability and reform.
Nwanguma averred that the invitation of Mr. Omoyele Sowore by the Nigeria Police to the Force Headquarters Abuja
Niger Council Bans Artisanal Mining
Laleye Dipo in Minna
Following the explosion that took place in Sabon,-pegi in Mashegu Local Government Area of Niger State last Monday, all forms of artisanal mining have been banned by the Chairman of the LGA, Alhaji Umar Jibrin Igade.
The chairman also advised his counterpart in neighbouring Magama LGA to take similar action.
Announcing the ban yesterday,
CHANGE OF NAME
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I, formerly known and addressed as Miss Motoni oMowunMi Ruth, now wish to be known and addressed as Miss Motoni oMowunMi Ruth All former documents remain valid. The general public should take note.
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I, formerly known and addressed as MoyinoLuwA GoodnEss Audu PAuL, now wish to be known and addressed as MoyinoLuwA GoodnEss itAMAh All former documents remain valid. The general public should take note.
I, formerly known and addressed as AdEshinA GAniyAt oLuwAsEun, now wish to be known and addressed as ARoMoLARAn GAniyAt oLuwAsEun. All former documents remain valid. The general public should take note.
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Igade said the council is convinced that more dynamites are being stored in houses in parts of the local government area.
“It has been discovered that many more people are still having dynamites stored in their houses,” the chairman declared before asking for the support of the state government for the enforcement of the policy.
Igade disclosed that 17 houses were completely destroyed, 35 partly damaged and nine vehicles affected by the dynamite explosion.
He added that 69 people were affected by the explosion out which two deaths were recorded and six injured were treated and discharged from the hospital.
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and his arrest, interrogation and eventual unlawful detention ostensibly over a video he made of some police officers at a checkpoint along Lagos airport
road has thrown up a debate about the legality of police officers stopping motorists at random at checkpoints as well as corrupt and abusive police
conducts at checkpoints.
To put the police harassment, extortion and unlawful detention into proper perspective, the executive
director recalled few of many previous incidents where police officers at checkpoints stopped vehicles, harassed the occupants, and extorted money from them.
Police Recover Lifeless Body of Vandal, Intercept Illicit Substance Supplier in FCT
Linus Aleke in abuja
The Federal Capital Territory (FCT) Police Command, yesterday recovered a lifeless body of an unidentified suspected vandal who was electrocuted while attempting to vandalise electricity infrastructure belonging to the Abuja Electricity Distribution Company (AEDC). The command disclosed
that on January 30, 2025, their operatives responded to a distress call put through to the Command’s Control Room and discovered the lifeless body near step-down electricity lines at Yakubu Gowon Crescent, Asokoro.
A statement by Police Public Relations Officer FCT Command, SP Josephine Adeh, further revealed that tools used for the
vandalism were also recovered at the scene, while his accomplice had already fled.
“The FCT Police Command strongly warned individuals against engaging in such criminal activities, emphasising that vandalism of public infrastructure is a grave offense that will not be tolerated within the Federal Capital Territory,” she said. He noted that security operatives remain on high alert to apprehend perpetrators and ensure the protection of critical national assets.
In another development, the command arrested a 27-year-old dispatch rider, Magaji Adamu, for allegedly transporting multiple cartons of nitrous oxide, commonly known as “laughing gas,” suspected to be used for illegal purposes.
Ekiti Gov:We’ve Maintained Zero Borrowing Policy in Project
Gbenga Sodeinde inadoEkiti
Ekiti State Government yesterday presented a breakdown of the N375.7 billion 2025 Budget signed into law by the state Governor, Biodun Oyebanji, on December 30, 2024, to the public with a confirmation that the administration has not borrowed a dime to finance its projects. Giving a highlight of the
2025 budget tagged: ‘Budget of Sustainable Impact’, at a public presentation of breakdown and analysis of the budget at Jibowu Hall, Government House in AdoEkiti, the state Commissioner for Budget and Economic Planning, Mr. Femi Ajayi, emphasized the government determination to engender sustainable growth and further improve the wellbeing of
the people through the six pillars of the administration.
Financing
He said the projection for the 2025 financial estimates is to further enhance government’s policy on the shared prosperity agenda of the administration in tandem with the 2025-2027 medium-term expenditure (MTEF) and the 30-year development plan. The commissioner explained that the 2025 budget would be derived from the state revenue estimate for the year, particularly the federal allocation, 45 percent, Value Added Tax (VAT) 15 percent, Grants from Domestic and Foreign Development partners 21 percent, State Independent revenue, 8 percent, and loan plan from domestic or foreign borrowing for the implementation of specific capital projects 7 percent.
Odu’a Invest in Iwosan Investments to Boost Medical Tourism
Sunday Okobi
Odu’a Investment Company
Limited (OICL), the engine room for the economic development of the South-west states, has announced a strategic investment in Iwosan Investments Limited, aimed at reversing medical tourism by driving innovation and enhancing access to
quality healthcare locally.
This strategic initiative, according to a statement issued and made available to THISDAY yesterday by the Head of Branding and Communication, Victor Ayetoro, is in line with Odu’a Investment’s SRC 2025 (Sweat, Revive and Create) strategic plan.
According to the Group Chairman of Odu’a Investment Company
Limited, Otunba Bimbo Ashiru, “By investing in key sectors, Odu’a is reinforcing its efforts to reposition the region at the forefront of economic development of the country. This initiative not only demonstrates Odua’s aspirations at economic diversification but establishes a sustainable legacy that can thrive for future generations.”
Additionally, Odua’s Group Managing Director, Mr. Abdulrahman Yinusa, affirmed that “the revitalised Odu’a Investment Company Limited is focused on implementing strategies that are aligned to its mission and vision, as we continue to support investments that will steadily create new opportunities for economic growth in our chosen sectors.”
Security Operatives Burst Kidnappers’ Den, Recover Arms in Anambra
David-Chyddy Eleke in awka
The combined security forces in Anambra State operating under the newly launched security operation codenamed Operation Udo Ga Achi yesterday raided a kidnappers’ hideout in Enugwu Agidi, Njikoka Local Government Area of the state.
The operatives arrested a key member of the kidnap syndicate and recovered a large of cache of weapons, consisting of various kinds of arms and ammunition.
THISDAY gathered that the raid was conducted at 12:15 a.m. yesterday, acting on credible intelligence. The operatives apprehended Mr. Chukwudi Tansi, identified as a member of the kidnapping syndicate.
The Press Secretary to the state Governor, Chukwuma Soludo, Mr. Christian Aburime, said: “The raid resulted in the recovery of an impressive arsenal, including two AK-47 rifles, eight pump action guns, and four locally made pistols.
“Additional items seized included three packets of cartridges containing 101 rounds, four empty AK-47 magazines, three cutlasses, a Baofeng radio, a motorcycle, and various charms.”
Nickelodeon Rallies Viewers for Fun, Family Entertainment in February
Nickelodeon is turning up the fun with a jam-packed lineup guaranteed to entertain the entire family in February.
According to a statement, viewers are to get ready for a thrilling mix of brand-new episodes, exciting stunts, and must-watch premieres that will
have everyone glued to their screens.
“From epic superhero showdowns to hilarious underwater antics, there’s something for everyone to enjoy. Viewers are to grab the popcorn, round up the family, and get set for a month full of laughter,
action, and unforgettable moments in DStv Channel 305 and GOtv Channel 87,” the statement said.
For instance, in the transformers EarthSpark, viewers are to get ready for an actionpacked adventure as a new generation of Transformers—
Earth’s first-born robots—team up with the humans who welcome them, proving that family goes beyond just blood. In season three, the stakes are higher than ever when a massive dome traps the Decepticons in the town of Witwicky. But can it hold them for long?
ECOWAS Court of Justice to Launch Enhanced Electronic Case Mgt System
Michael Olugbode inabuja
The ECOWAS Court of Justice is finalising preparations for the official launch of its enhanced Electronic Case Management System (ECMS).
According to a statement yesterday, central to this effort are
a comprehensive Quality Assurance Workshop and Group Training for Judges and Staff, aimed at ensuring system readiness and user proficiency. These activities will culminate in a high-profile Go-Live Ceremony, marking the court’s transition to a fully digital case management platform.
The statement revealed that a hands-on quality assurance workshop scheduled for February 2-5, 2025 will bring together key stakeholders, including the Project Team, IT Unit, Super Users, and Management, to rigorously validate
the ECMS’s functionality and usability.
The workshop will address potential gaps in system design, provide training on advanced features, and establish a framework for ongoing feedback and improvement.
Osimhen’s Goal Not Enough as Ajax End Galatasaray’s 26-match Unbeaten Run
Leverkusen coach insists no big deal Boniface’s move to S’Arabia collapsed
Duro
Ikhazuagbe
Victor Osimhen scored a late goal in Amsterdam last night but it was not enough to preserve Galatasaray’s unbeaten 26-match run as Ajax snatched a 2-1 win to qualify for the Round of 16 playoff stage of the new format Europa League.
Galatasaray’s most prolific attack spearheaded by Osimhen was effectively caged by Ajax backline
EUROPA LEAGUE
inside the Johan Cruyff Arena. It went blunt on a day the Istanbul team needed to be sharp most in order to make the elite Top 8 rank to avoid the playoffs. With the clock winding down to Ajax running away with the two goal lead, Osimhen bundled home from a close range after the home
Nigeria’s Bobsled and Skeleton Federation Appoints Scribe, COO
The Bobsled and Skeleton Federation of Nigeria (BSFN) has appointed the duo of Lilian Obillor Chinonso and Chidinma Eziuka, as Secretary and Chief Operating Officer (COO), respectively.
Both appointments take immedi- ate effect and come at a time the Federation is making strategic plans for the 2026 Winter Olympics in Milan, Italy.
President of BSFN, Chief Solomon Ogba, applauded the appointment of the Secretary and COO.
"BSFN is pleased to have both Chinonso and Eziuka. With the duo, we can achieve more. BSFN is a young Federation and we need their experience," he said
The appointment of Chinonso is a huge achievement as it signifies official recognition by the National Sports Commission (NSC).
Chinonso was secretary of the Badminton Federation of Nigeria (BFN) before her redeployment to the BSFN and she comes with
experience to boost the growth and development of winter sport.
Eziuka becomes the first COO of the BSFN since its establishment in 2016. With robust experience from Nilayo Sports Marketing Limited, where she worked on the Access Bank Lagos City Marathon, Lotus Bank Abeokuta 10km Race and Premium Trust Bank Abuja City International Half Marathon amongst others, Eziuka is well suited for the task of contributing her quota to the remarkable growth of winter sports in Nigeria.
Established on December 28, 2016, the Bobsled & Skeleton Federation of Nigeria was created as the first African Bobsled Federation.
BSFN was conceived with athletes based in the United States of America and a male team was later created in Austria.
With dedication and hard work, the Federation now has a strong presence in Nigeria with coaches and athletes training for competitions.
team failed to clear a corner for the Nigerian striker to net his seventh goal in the Europa League this season for Galatasaray. There certainly was no room for the Turkish side to dream of equalizing as Ajax ended their unbeaten run dating back to August 27 in the UEFA Champions League defeat against Young Boys.
After charting the course to Olympic glory and with the Los Angeles Games in view, badminton is fast spreading like wildfire into every part of Nigeria.
students and their teachers learn a sport together at the same time.
The game master of Irrua Girls Secondary School, Ambrose Okonofua, remarked that “we were pleased with the training which has impacted positively on us and our students.
The Turkish champions tabled a bid of 65 Million Euros for the striker who has become a massive fans’ favourite, according to Corriere dello Sport
However, Napoli insisted on the release clause of 75 Million Euros specially for Galatasaray after they
Osimhen whose permanent transfer bid request by Galatasaray was turned down by Napoli on Wednesday evening, appears unfazed as he played with his usual flair.
paid a loan fee of Six Million Euros. According to ScoreNigeria, other clubs who want to sign Osimhen in January will have to pay 81 Million Euros.
Napoli President, Aurelio De Laurentiis, has maintained there will be no discount on this amount.
Osimhen is on loan at Galatasaray until the end of this season. So far, he has scored 17 goals in 21 games
Badminton Fever Spreads to Uromi with Ibhawoh Foundation Training Sessions Paralympians
Recently Badminton Federation of Nigeria (BFN) with the support of the continental body, the Badminton Confederation Africa (BCA) held a coaching course in theOthercountry.bodies have taken the baton with the Francis Ibhawoh Foundation taking the lead by organising training courses for prospective badminton players in secondary schools in Uromi, Edo State.
It has also extended the goodwill to game masters and mistresses in Uromi in Esan Northeast Local Government Area of Edo state.
The event was held in collaboration with BFN, the Edo State Ministry of Education, and the Edo State Sports Commission and powered by CSED (Community Sport and Educational Development) Initiative.
The two-day training event involving 69 students from 23 secondary schools, held at the indoor hall of Esan Model Grammar School on 22 and 23 January 2025.
Three badminton “Shuttle Time” trained coaches, Godswill Ifejika, Olalekan, Fajimiyo, and Blessing Osayomwanbo were on the ground to offer the basic skills to the students.
The badminton outreach for secondary schools project is designed to teach game masters and mistresses and the students, the basic skills in badminton. It is one of the rare training events in sports where
“The programme has in the last two days engaged the minds of the students and I am confident of seeing world champions emerging from these badminton outreach training events in Nigeria in future.”
Also, one of the coaches, Olalekan Fajimiyo commended the schools for their massive turnout and their show of passion adding that, it was one outreach with very high numbers of participants in attendance at the grassroots level.
NPFL Title Contenders, Enyimba, Rivers Utd, Drop Points at Home
Femi Solaja
Nigeria Premier Football League (NPFL) title contenders Enyimba FC of Aba and Rivers United FC have failed to close the gap between them and leaders Remo Stars as both teams battled to score draws at home yesterday, leaving the Ikenne side with a massive seven-point gap at the summit.
Interestingly, the duo of Niger Tornadoes and Katsina United won their respective home matches yesterday but the results left them in the middle of the pack after Match-day 21 of the NPFL.
In Aba, former champions, Enyimba had to come from behind to get a 1-1 score-line against Emmanuel Amuneke tutored Heartland FC.
The Naze Warriors appeared set to get a pound of flesh from the Aba side who inflicted a 0-2 home defeat on the opening day
of the league.
It was Daniel Ekpo who put the visitors in front in the 19th minute and looked set to double the lead before halftime but were unlucky not to score again.
However, in the second stanza, Joseph Atule restored parity with an equaliser in the 56th minute and both sides aimed for the winning goal without success till the end of the match.
The result thus pushed the Aba Elephant further down on the log at ninth position with 28 points but with a game in hand. Heartland dropped to 13th position on 26 points.
In Port Harcourt, Rivers United failed to win their third consecutive match after a 2-2 draw against Bendel Insurance of Benin City.
The visitors were in front as early as the 6th minute with a close-range shot from Meyiwa Oritseweyinmi but John Ubong Friday puts smile
in the faces of the home fans with the equaliser in the 35th minute of the half.
On resumption, Uche Collins puts Insurance side in front again but Handsome Surveyor even the score-line again two minutes later.
While in
But in Katsina, the home side, Katsina United defeated Plateau United 2-1. With the match looking like another draw, the home side won via a penalty kick in the added time.
Paralympic Games medalists Isau Ogunkunle and Olufemi Alabi demonstrated their exceptional skills at the 56th Molade Okoya-Thomas National Table Tennis Championships, ongoing in Lagos.
Ogunkunle, the only African to win a medal in the table tennis event at the Paris 2024 Paralympic Games, secured a decisive 3-1 victory over fellow Paralympian Bolawa Akingbemisilu, becoming the national champion in the Men’s Singles Class 1-5.
Similarly, Alabi, a bronze medalist from the Tokyo 2020 Paralympic Games, showcased his talent with an emphatic 3-1 win against Abiola Adesope, claiming the Class 6-10 championship.
In the Women’s Singles Class 6-10, Kehinde Lawal triumphed over Mariam Popoola with a 3-1 victory to secure the top spot. Kate Oputa of Delta State dominated the Women’s Singles Class 1-5, winning 3-1 against Kwara’s Taiwo Oyinloye.
the game dragged till the end when Abdulrasheed doubled the lead in the 86th minute before Junior Aimufua scored a consolatory goal in the 90th minute.
Top seeds Matthew Kuti and Sukurat Aiyelabegan have expressed their determination to make their mark in the competition. Kuti, a silver medalist at the 2023 African Games, stated, “I have been playing well in the last two months, winning the majority of the competitions. But I don’t want to be too complacent. I will give my best to prove myself when it matters most. This is the gathering of the best players in the country, being the first national tournament in 2025.” Aiyelabegan echoed similar sentiments, acknowledging the tough competition. “We have the best players competing here, and it is really a tough tournament. I am confident I can raise my game to win the title in Lagos,” she added. Former Congolese international, Saka Suraju, who participated in the longest-running table tennis tournament in Africa, praised the family of the tournament’s initiator for maintaining its national significance.
MISSILE
Afenifere to President Tinubu
“Afenifere reiterates the position that Nigeria with its vast territory, population and as a federation cannot be effectively and meaningfully secured with a single command unitary police structure and thus the need for the restructuring to ensure immediate constitutional institutionalisation of State Police” --Afenifere National Publicity Secretary, Prince Justice Faloye, tasks President Tinubu on the unabating insecurity in the country.
AKIN OSUNTOKUN
The Alaafin
By a consensus of research opinions, Oduduwa arrived and founded the Ife monarchy not later than the 11th century. Afolayan (2004:33) said that ‘Oduduwa might have arrived in Yorubaland sometime around 1100 AD, and Oyebade (2004:53) said sometime around the 7th, 10th or 11th century AD) and Oranmiyan founded the Oyo monarchy in the 14th century’.
These dates give us a time span of 300 years. The first implication of these dates is that Oranmiyan could not have been the son, grandson, great grandson or even great great grandson of Oduduwa. Neither would Oduduwa be alive to delegate a proxy to Ighodomigo.
The same oranmiyan was improbably credited with being the founder of the Oyo empire, the first Oba of Benin and the fourth Ooni of Ife.
If Oranmiyan was at any time the Ooni of Ife, it challenges the conspiracy theory that the Ooni was not the son of Oduduwa but the chief priest in the palace who came to fill the regnal vacuum inadvertently created by the absence of the seven princes who had left to to found their own monarchies across Yorubaland.
There is also the peculiarity of one legendary individual (Oranmiyan) straddling three significant monarchies that are not really contiguous (turning himself into something of a professional monarch).
Just to be sure, we should ask, how many years did Oranmiyan reign in Benin? How many years did he spend as Alaafin in Oyo? Did he also abandon Oyo as he did Benin? When and how long did he reign as Ooni? These posers collectively speak to the conflictual representations of time and event by vested interests, especially the Yoruba and Benin, to suit their different narratives.
The prior acephalous village communities eventually pooled together to form the Benin city-state at about 1300 AD and shortly after statehood was established, a foreign official named Oranyan became leader of Benin. Was he invited? No one knows for sure.
According to Benin oral tradition, Oranyan came to power because he married a local chief’s daughter and formed a kinship connection that led to ruling rights. Others argue that this story is just a cover-up and that Oranyan’s rise to power was most likely the result of an invasion.
New Alaafin of Oyo, Prince Abimbola Akeem Owoade
‘In either case, during Oranyan’s rule, he fathered a son who was called Ekewa. Historians agree that Ekewa was considered the first king, or oba, of Benin’ www. ushistory.org
According to the “Benin history project” and oral traditions, Oduduwa is Izoduwa, the exiled son of the last Ogiso. In this imagination, an emissary was sent to Izoduwa (Oduduwa) asking him to provide one of his sons to rule over Benin. Iziduwa sent his son, Oranmiyan who would later leave Benin after fathering a son that became Oba Eweka”
“According to early accounts, Oranyan founded Oyo as its first Alaafin in the year 1300 shortly after establishing a new dynasty in Igodomigodo”.
If we eliminate all references to how Oranyan came to become the king of Benin, there are still two outstanding facts. One is that Oduduwa founded a dynasty in Ife not later than the 11th century. The other is that Oranmiyan founded the Oyo monarchy in the 14th century.
The extrapolation from this timeline is that the gap between the two historical personalities is about three hundred years. Were this to be the case, it is impossible
for Oduduwa to have been the Ife monarch who granted the request of Edo delegation and sent his son Oranmiyan as proxy to resolve the intractable crisis suffered by the Edo people and stabilise their polity.
There are two possible compelling reasons why the Edos will seek the intervention of the Ife monarch in their polity. One is that the latter must have been sufficiently strong such that members of the local community would not dare defy his authority by acting ultra vires of his proxy. The other is that they might have been so directed by oracular divination.
After a bit of research the only specific reference to the time of Oranmiyan in Benin was “After leaving Benin at about 1290, he moved north with his ever loyal entourage and settled close to the river Moshi (a tributary to the Niger River). He founded a city there, Oyo-Ile, which his descendants then expanded into the Oyo Empire”.
The convention of primogeniture accounted for Ajaka becoming the successor to Oranmiyan. The peculiarity of Ajaka was that he was both the predecessor and successor to Sàngó, his fiery junior brother.
Ajaka was of recessive temperament who peacefully and readily gave up the throne for his imperious and impetuous brother. He thereafter retired and lived to take back the throne following the short reign of his brother. .
Sango (Olubambi, Adegoroye Adegorite) was a revelation indeed. After his death, the throne reverted to the long suffering and tolerant Ajaka. According to Professor Mason’s Mythological Account of Heroes and Kings, unlike his peaceful brother Ajaka, “Sango was a powerful and violent ruler. He reigned for seven years which were marked by his continuous campaigns and many battles’
‘His reign ended due to the inadvertent destruction of his palace by lightning’. He had three wives, namely Queen Oshun, Queen Oba, and Queen Oya”. That he was husband to these three women was also unique. These were the most powerful women of the realm who subsequently became deified as goddesses of rivers Osun, Oya and Oba.
As a matter of fact, there is an odu Ifa where it is claimed that Oya was more powerful and implacable than her husband. The ese Ifa is ‘Oya rorò ju Sango lo’. Oya is river Niger and not far from Katunga (Oyo Ile).
GBOYEGA AMOBOYE
River Osun practically traverses half of Yoruba land and she is the preeminent and most prominent of female deities credited with the power to grant fertility to barren women and wealth to her devotees. If I say my great grandmother was the chief priestess of Osun, you can easily deduce this from my surname.
River Oba is synonymous with Iwo city and equally featured in ese ifa that says “toromini la ba odidere (parrot) l’ori odo Oba” (calmly perched you will find the parrot atop River Oba). There is the popular proverb that “Oba ran ni nise, odo obà kún” translating to ‘the king sent you on errand that requires you passed through obà but the river is dreadfully swollen and turbulent. The dilemma here is that the king’s word is law with which you are compelled to comply. Yet an insurmountable challenge lies across your path, rendering you to the choice between the devil and the deep blue sea or that of the rock and the hard place.
In order for readers to grasp the sort of fellow, Sango was, here is a snapshot “ti Sango ba fe ja, a koko yan lo bi Ede, a ku fisan fisan bi Ejigbo. Kotode,onijaatigba gbe, onilaja a ti sun lo. O ba bale jeun tan ninu ile, be’ri omo e si’ta. O be omo l’ori f’ese ti ri e wo. O fi omo laka laka na iya e. Ti Sango ba ku, tigbo tiju a mi titi Translation :(when rearing to fight, Sango terrifies endlessly, by the time he is ready to strike, his opponent would have forgotten and the potential peacemaker would be fast asleep. He dines with a father and decapitates his son thereafter, and goes further to kick it. He picks up the child to club the mother). It seems quite clear that here we are dealing with a (heroic) psychopath!.
Deified after the Jàkúta divinity of similar propensities, ‘Sango is, perhaps the most popular (notorious) Orisha; he is god of thunder and lightning. Popularised by the legendary theatre artist and traditionalist, Duro Ladipo in his stage play “Oba kòso, Sàngó is gifted with the ability to breathe fire and smoke through his nostrils and is known for being angered by his quarrelsome wives’. These narratives encapsulate the ‘virility, bravery, and governance of Sàngó. While he was feared for tyranny and destructive powers, he was also highly revered for his bravery, fairness, and tremendous powers’.
Toast To THISDAY At 30
“The Duke as Prince Nduka Obaigbena is fondly called is unequivocally, one of the seven wonders of modern journalism. Wishing him the very best in the next 30years”.
Congratulations to THISDAY family on its milestone of 30 years anniversary. But I’m afraid, the story of THISDAY cannot be complete without the mention of Ide Eguabor who if I’m still right, was the first Editor of the Newspaper.
Beyond that, Ide deserves a special acknowledgement because he was a co planner
of the birth of the paper from the drawing board. The Maternity home of THISDAY
was a duplex at Normal Williams street off Ribadu Rd or Keffi Street, SW, Ikoyi.
I was always visiting them, The Duke and Ide. Ide even suggested that I should be the Abuja Bureau Chief but I had just taken up an appointment with the SGBN and would not like to hurt Senator Sola Saraki and Dr. Bukola Saraki who had offered me the job to strengthen the bank’s Corporate Affairs Department. I could recollect Ide was the pioneer Editor though he left in a controversial circumstances to launch National Interest with a lot of take aways from THISDAY.
With that observation, I salute the resourcefulness and entrepreneurship of The Duke who I often call, driver of prosperity
journalism as it used to be with the old Daily Times, NNN and NAN. The era of leg men in journalism largely came to an end at a time only to resurface.
New Nigerian Reporters including my humble self were riding in brand new cars and living comfortably in company furnished apartments in low density areas of Lagos. THISDAY brought back this golden era to Reporters and even getting them top flight political and quasi- political appointments, courtesy the The Duke as analysed by Segun.
The Duke as Prince Nduka Obaigbena is fondly called is unequivocally, one of the seven wonders of modern journalism. Wishing him the very best in the next 30 years.