Crashes recurrent expenditure further to 14% at N133.1bn
Again, prioritises education with over 33% of budget
fiscal year to the Enugu State House of Assembly. Presenting the estimates, entitled, “Budget of Exponential Growth and Inclusive Prosperity,” at the floor of the Assembly yesterday, Mbah said
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A jubilant Tinubu directs NNPC to reactivate Warri, Kaduna refineries National oil company started production with lowly 1.4m litres of petrol Kyari says president’s pressure made feat possible, discloses 70% capacity reached NMDPRA certifies fuel okay, pledges support for on-streaming of other facilities Petrol retailers declare competition begins
James Emejo in Abuja and Nume Ekeghe in Lagos
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday decided to further raise the Monetary Policy Rate (MPR), the benchmark interest rate by 25 basis points to 27.50 per from 27.25 per cent.
The apex bank, which cited the continued inflationary environment and the need to achieve price stability for the hike, however, retained other monetary policy tools, including the asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve Ratio of Deposit Money Banks at 50 per cent and Merchant Banks at 16 per cent as well as the Liquidity Ratio at 30 per cent.
The CBN Governor, Mr. Olayemi Cardoso, while addressing journalists at the end of the 2- day meeting of the MPC in Abuja, the last for the year, said the committee remained focused on curtailing rising prices, and achieving price stability, adding that members unanimously agreed to further tighten policy.
The MPR is the rate at which commercial banks borrow from the central bank and often determines the cost of funds in the economy. This is the sixth consecutive but less aggressive interest rate hike under the current leadership of the apex bank,
The CBN governor said the meeting occurred on the backdrop of renewed inflationary pressures, as the headline, food and core measures rose year-on-year in October 2024.
The committee was particularly
worried that all three measures also inched up on a month-on-month basis, suggesting the persistence of price pressures, with attendant adverse impacts on income and welfare of Nigerians.
Cardoso, who read the committee’s communique, said, “Members, therefore, agreed unanimously to remain focused in addressing price developments.”
He noted that while food prices remained a key contributor to the uptick in inflation, the MPC commended the efforts of the federal government for the improved security, especially in the North-East of the country, which would likely improve food production.
Citing data from the National Bureau of Statistics (NBS), he said headline inflation, year-on-year, rose to 33.88 per cent in October 2024 from 32.70 per cent in September 2024 while month-on-month, inflation rose to 2.64 per cent in October 2024 from 2.52 per cent in the previous month, with both the food and core components contributing to the continued rise in headline inflation.
Food inflation rose further to 39.16 per cent in October from 37.77 per cent in September, while the core index also rose to 28.37 per cent in October, from 27.43 per cent in the preceding month.
Hence, Cardoso said the central bank remained resolute and committed to continuing to fight the war against inflation, adding that the bank’s return to orthodox monetary policies had come to stay under his watch.
He said, “There's no going back on that. And as I have said at previous fora, we are going to deploy everything in our arsenal to ensure that we are able to tame it (inflation). And of course, this entails the return to orthodox monetary policies.”
He insisted that the CBN’s policy initiatives are in the right direction, adding that there is a time-lag between implementation and impact.
The CBN governor further assured Nigerians that greater results from recent policies should be expected by the first quarter of 2025.
He also said the bank was working assiduously with other agencies to clear structural impediments including supply disruptions and infrastructure among others, adding that these often require time to manifest.
The MPC, however, noted the moderation in the prices of farm produce and commended the efforts of the federal government in driving increased productivity in the agricultural sector.
Cardoso also stated that the recovery of output growth was sustained, with Real GDP growing
by 3.46 per cent year on year in the third quarter of the year compared with 3.19 and 2.54 per cent in the preceding and corresponding periods, respectively.
He said the growth was driven by both the oil and non-oil sectors, with a notable contribution from the services sector as non-oil sector grew by 3.37 per cent in the third quarter compared to 2.80 per cent in Q2, while the oil sector grew by 5.17 per cent, year-on-year, compared to 10.15 per cent in the preceding quarter.
He also disclosed that the external
reserves rose marginally to $40.88 billion as at November 21, 2024 from $40.06 billion at end-October, available to finance 17 months of imports. The CBN governor further acknowledged the role of rising energy prices on the general price level due to its impact on factors of production, pointing out that the recent increase in the price of Premium Motor Spirit (PMS) had also impacted the cost of production and distribution of food items and manufactured goods.
Emmanuel Addeh in Abuja
The federal government yesterday signified its interest in taking a substantial share of the $200 billion global hydrogen market, noting that to achieve this, there must be close collaboration among investors, industrialists potential off-takers and communities.
Speaking in Abuja at the First Nigeria Conference on Hydrogen, Vice President Kashim Shettima explained that hydrogen has emerged an important fuel for Nigeria's energy future, given the country’s ambitious goal of attaining
a net-zero economy by 2060.
The vice president recalled that under Nigeria’s energy transition plan, the country has made a commitment of attaining 9 gigawatts of renewable electric power supply by 2030.
To attain Nigeria's high targets, Shettima pointed out that building a robust and varied energy mix in line with local resource availability was critical.
“Globally, hydrogen demand is expected to skyrocket from around 95mt today to over 500mt by 2050. Hydrogen accounts for less than 2 per cent of global energy
consumption today, but could rise to 10 per cent by 2050 and by some projections, as high as 20 per cent of global energy consumption.
“Given our vast natural gas and renewable energy resources as a country, the potential for hydrogen to meet our domestic energy demands, service our burgeoning petrochemicals industry and reshape our energy trade through exports, cannot be overestimated,” the vice president who was represented by his Special Adviser on Power and Infrastructure, Sadiq Wanka stated.
Shettima observed that given the infancy of hydrogen in the country, a stakeholder-aligned national hydrogen strategy was a logical first step.
that it could reach between 500 and 700 million metric tons annually by 2050.
“The global market for hydrogen technologies is projected to grow exponentially, reaching over $200 billion by 2030. For Nigeria to capture a share of this expanding market, significant investments must be made in upgrading infrastructure, building electrolysers for green hydrogen production, and creating enabling policy frameworks,” Ella observed.
He stated that the event was essential as Nigeria establishes regulations that ensure safety and promote industry standards for hydrogen use.
Declares improved security in the north-east likely to improve food production Cardoso: No going back on war against inflation, return to orthodox monetary policies Says Nigerians must patronise locally made products to boost Naira’s value Says phenomenon led to 15% decline in oil revenues in 2022/2023 Shettima seeks collaboration among investors, industrialists, off-takers, others
Emmanuel Addeh in Abuja
The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday launched a study on the potential impacts of the ongoing energy transition on Nigeria’s economy.
Speaking at the event in Abuja, the Executive Secretary of NEITI, Dr Ogbonnaya Orji, said that the global phenomenon was already affecting the Nigerian economy, with a decline in oil revenues by 15 per cent between 2022 and 2023.
According to Orji, the urgency of the study has been further reinforced by the findings of NEITI’s recently released 2023 oil and gas industry report.
“The report revealed a 15 per cent
decline in oil revenues between 2022 and 2023. This trend is a warning signal of the looming impact of global energy transition policies and reduced fossil fuel demand.
“Crude oil production dropped by 8 per cent in 2023 compared to the previous year, and the reserve replacement ratio has been on a steady decline. If this trend continues, our oil reserves may not sustain us for long in an energy transition era,” the executive secretary stated.
According to Orji, these not only exacerbate revenue shortfalls but also undermine Nigeria’s efforts to ensure sustainable resource management amid the energy transition.
He stressed that the findings demand urgent action, explaining that the study was part of NEITI's
proactive response.
Orji added that the objective of the research was to provide evidence-based insights into how Nigeria can navigate the global shift from fossil fuels while ensuring economic stability, energy security, and social inclusion.
The workshop on the focus, approach and methodology for the study brought together key stakeholders, experts, and policymakers to refine the study’s approach and provide strategic insights.
The executive secretary also noted the progress that Nigeria has made against oil theft, pointing out that the NEITI 2023 report showed a reduction of 79 per cent in crude oil losses due to theft.
The NEITI executive secretary
commended the office of the National Security Adviser (NSA), the Nigeria Armed Forces and other security agencies for the drastic approach so far resulting in visible decline in crude theft.
Also, delivering the opening remarks on behalf of the NEITI board, its Chairman, Senator George Akume represented by NEITI’s alternate Chair, Mathew Adoli, emphasised the urgent need for Nigeria to strategically respond to the challenges and opportunities presented by the global move towards cleaner energy.
“The transition from fossil fuels to renewable energy sources is no longer an abstract concept. It is a reality shaping policies, markets, and investment decisions worldwide.
“A successful national strategy requires close engagement with investors, industrialists, potential off-takers and users and of course communities. The investments required in building the infrastructure for hydrogen transport and storage are vast and can only be driven by the private sector.
“Building our vast natural gas pipelines with future hydrogen transport in mind will significantly reduce these costs and help to attract capital. Planned petrochemical complexes can also be incentivised to decarbonise hydrogen for greater marketability in key export destinations,” he said.
Also speaking, Permanent Secretary, Ministry of Petroleum, Nicholas Ella, quoting the International Energy Agency (IEA), stated that global hydrogen demand was approximately 94 million metric tons in 2022, with projections estimating
“Recent studies suggest that the global adoption of hydrogen could reduce CO2 emissions by up to 6 gigatons annually by 2050. For Nigeria, integrating hydrogen into our energy ecosystem can significantly contribute to achieving our target of reducing carbon emissions by 20 per cent by 2030, as outlined in our Nationally Determined Contributions (NDCs).
“The private sector's involvement is crucial to addressing the estimated $50 billion investment needed for Nigeria's energy transition, as projected by various financial analysts.
“While the promise of hydrogen is substantial, the challenges are equally significant. The current cost of producing green hydrogen is approximately $4 to $6 per kilogramme, but with technological advancements and increased production scale, it is expected to decrease to $1 to $2 per kilogramme by 2030.
L-R: Lagos State Head of Civil Service, Mr. Olapade Agoro; CEO, Federal Ministry of Finance Incorporated, Dr. Armstrong Ume Takang; Special Adviser to the Lagos State Governor on Taxation and Revenue/Chief Host, Mr. Abdul-Kabir Opeyemi Ogungbo, Secretary to Lagos State Government, Bimbola Salu- Hundeyin; Chairman House Committee on Finance, Hon. Femi Saheed; and Honorable Commissioner, Lagos State Ministry of Finance Mr. Abayomi Oluyomi at the Eko Revenue Plus Summit 2024 held in Lagos… yesterday
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has challenged Lagos State to go beyond expanding its tax net, but to explore ways of broadening its economic base and exploiting its resources to match up with its 35 percent share of the country's Gross Domestic Product (GDP).
The minister gave the charge in Lagos, yesterday during his keynote speech on the first day of the Eko
Revenue Plus Summit 2024, with the theme: "Unlocking New Revenue Streams for Lagos State.”
Also speaking at the event, Lagos State Governor, Mr. Babajide SanwoOlu, while responding to the minister's remarks, said the state needed between N6.5 trillion to N7 trillion budget to deliver better projects and programmes for the people but was limited by funding capacity.
Represented by the Managing Director of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong
Takang, Edun, whose speech centred on "Nigeria's Economic Outlook: Strategies for Unlocking Revenue Potential for Sustainable Growth," stressed that the main conversation for Lagos State should be around growing the economic base of the state. With the state contributing 35 percent of Nigeria's GDP, the minister said the budget of Lagos should be higher than the N3.5 trillion budget proposed for 2025, to enable it to invest, grow the economy, provide infrastructure for the people, and
ensure a higher level of quality of life in the state.
Edun stated, "I told Lagos today that beyond revenues, the conversation we should be having is how do we grow a bigger pie? How do we grow a bigger economy? Because think about it. Chairman of the House Committee on Finance has commented on finance. I love your point about the fact that the state has a budget for 2025 of N3.5 trillion.
"But think about it. The GDP of Lagos state, which is an indication
The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has forecasted a 10 percent appreciation of the naira in 2025.
The economist also anticipated that the Nigerian economy would recover from the challenging phase of its reform adjustment process by next year.
Rewane made these projections during his keynote address at the Parthian Economic Discourse 2024 (PED24), in Lagos yesterday.
The event with the theme: "Policy Shifts: Strengthening Economic Institutions for Sustainable Growth," convened leading economic experts, policymakers, and business leaders
to address Nigeria’s critical economic challenges.
In his keynote address, Rewane underscored the need for efficient exchange rate management, describing it as a cornerstone of economic stability. He urged the Central Bank of Nigeria (CBN) to undertake bi-monthly sales of forex to reduce speculation and volatility in the market. He, however, noted that if exchange rate management was not properly managed, the naira could also further depreciate by 30 percent in 2025.
Highlighting the sharp depreciation of the naira from N810 to N1,750 in the parallel market over the past year, Rewane, who is a non-executive director of Parthian Group, noted that Nigeria's currency
had experienced a far more severe decline than comparable African economies like Ghana, South Africa, and Kenya.
He said: “We think that the exchange rate will appreciate mildly, not anything significant. We got it wrong. We thought that this time of year to be about N1200, we are so far away from that. Even the government has said we'll be happy to settle at N1400. So, we anticipate a 10 per cent appreciation which can take you to about N1550.”
“Nothing suggests or justifies a currency losing half its value without major external shocks such as an earthquake, war, or natural disaster. The question remains what is responsible for this significant decline?” Rewane queried.
A Bill to repeal the Ministry of Finance Incorporated Act 1959 and reenact the Ministry of Finance Act 2024 has scaled second reading in the House of Representatives.
The Bill sponsored by Hon. Ademorin Kuye was designed to ensure the effective ownership and accountability in the use, custodianship and management of federal government assets.
Leading the debate on the proposed legislation at the plenary yesterday, Kuye explained that the Ministry of Finance Incorporated (MoFI) was established in 1959 by an Act of parliament to serve as the sole custodian of federal government
Assets throughout the federation. However, he said, since its establishment, MoFI has not operated as it should be given the pillage, brigandage, abandonment, diversion, misappropriation and abuse of federal assets throughout the country.
The lawmaker argued that since the old Act of 1959 contains only six Sections without the needed impetus for the Corporation to assume its role in modern Nigeria, the new Act is introducing a comprehensive framework of 49 Sections for the conduct, management, use, and custodianship of federal government assets
Kuye added that the bill, when passed into law, would reinvigorate MoFI to provide
necessary institutional framework to guide its corporate governance and establish its organisational structure. He noted that the bill would also ensure strong legal backbone for the emergence of a truly national corporation that would manage, account for and optimise the use of over N300 trillion worth of federal government assets by granting MoFI certain powers and ensuring that the board is properly incentivised.
The lawmaker stressed that Section 3 clearly outlines the main objectives of the bill which is to empower MoFI to identify and enumerate all assets and investments; to hold and manage all the assets and investments of the federal government to ensure productivity and sustainability.
While acknowledging ongoing reforms, he criticised poorly sequenced policies and mismanagement, which have exacerbated economic challenges.
“We attempted subsidy removal and exchange rate liberalisation but failed to tighten liquidity simultaneously. This mismanagement disrupted the desired outcomes. To fix this, we must hit the reset button and realign our approach,” he stated.
Rewane proposed a series of measures to stabilise the naira.
“The central bank, I believe should, announce a program to sell foreign exchange once every two weeks, if you do that it would take away the panic premium, because, typically, the value of the market is different from the fair value,” he added.
of the productivity, is at least 35 per cent of the GDP of Nigeria. So, what will you do if that is the case?
“It means that the resources that Lagos State needs to invest, to grow the economy, to provide infrastructure for the people, and to ensure that there is a higher level of quality of life in Lagos, also requires that the budget should also be higher.
"The 2025 budget for the federal government is over N40 trillion. So the challenge I give to Lagos is that Lagos must start thinking of the fact that you cannot just be a large player in terms of GDP, but also in terms of the resources that are being put at the disposal of the people of Lagos State," she added.
According to him, the N3 trillion Lagos budget is a fraction of the federal government's budget, adding that from a GDP standpoint, Lagos state represents a sizeable chunk of Nigeria's GDP.
"Can all of those extra resources from budgeting come from tax and revenues alone? It will come from activities that lead to expanding the economic base of the state.
"We need to be very deliberate about it in ensuring that steps are being taken by the state to expand the economic base of the state," he said.
However, in his remarks while speaking virtually, Sanwo-Olu concurred with the minister that Lagos was contributing between 25 to 30 per cent of Nigeria's GDP but was doing disproportionately less in terms of revenue generation and budget.
The governor said the state needed between N6.5 trillion to N7 trillion
budget to deliver better projects and programmes to improve the life of the people of the state but was limited by funding capacity.
He said, "So, our N3.5 trillion budget (for 2025), in my view, is not enough for us to celebrate. But what I want to explain to the audience is, quite frankly, because this budget is typically driven by the capacity of whatever you can generate.
"The demands of next year's budget, which we just finished preparation, shows that indeed, we need up to N6.5 trillion to N7 trillion to meet all of the needs that will come around and for all of the things people are asking us to do.
"But because we don't have the capacity yet to generate that amount of revenue, we're constricted with the revenue that is available. And what I'm saying is, year-on-year, we implement our budget to over 90 per cent year-on-year.
“This year, clearly, we're going to do between 95 to 100 percent of the budget that was put forward this year.
"So you can see that our ability to do more quite frankly depends on our ability to earn more. If we can earn more, we can actually implement a lot more. So, that's one point." In his welcome address, the convener of the Eko Revenue Plus Summit and Special Adviser to Lagos State Governor on Taxation and Revenue, Mr. Opeyemi Ogungbo, explained that the summit was conceptualised to provoke initiatives and innovations resulting from the ever-growing need for better services and bridging an infrastructural gap for the State.
Nigerian, French presidents to hold bilateral talks on security, economy, energy transition, health, others
Deji Elumoye in Abuja
President Bola Tinubu will today depart Abuja for a State visit to France on the invitation of President Emmanuel Macron.
In a statement issued yesterday, by the Information and Strategy Adviser to the President, Bayo Onanuga, the Nigerian leader's three-day visit, would focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.
Tinubu and his wife, Senator Oluremi Tinubu, would be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l'Élysée, by Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.
During the visit, Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
Both leaders will participate in political and diplomatic meetings
highlighting shared values on finance, solid minerals, trade and investments, and communication. They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development. Brigitte and Nigeria's First Lady will discuss the latter's passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative. Tinubu and his wife will be hosted at a state dinner by the French leader before returning to the nation's capital, Abuja. Top government officials will accompany President Tinubu on the trip.
L-R: Group MD/CEO, Parthian Partners, Oluseye Olusoga; Group Executive/GCOO, Parthian Group, Dr. Benson Uwheru; DG/CEO, Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona; NonExecutive Director, Parthian Partners/CEO, Financial Derivatives Company Limited, Bismarck Rewane; CEO, NGX Regulation Limited, Olufemi Shobanjo; Chairman, Parthian Partners, Adedotun Sulaiman; Associate Dean, Lagos Business School, Prof. Olayinka David-West, and Executive Director, Parthian Group, Yemi Sadiku at the Parthian Economic Discourse 2024 held in Lagos…yesterday
In spite of his frequent political and policy disagreements with former Vice President Atiku Abubakar, President Bola Tinubu yesterday extended his best wishes to the ex-number two man on the occasion of his 78th birthday.
Tinubu had had several disagreements with his one-time political ally, Atiku, who had strongly criticised him on various issues, including the administration’s appetite for
borrowing.
The former vice president, who was Tinubu’s opponent in the 2023 presidential election, had also attacked the present administration’s economic policies as lacking coherence. Atiku had criticised Tinubu frequently on the economy, urging him to put an end to his “shambolic ‘bolekaja’ economic policies”, which he said were hurting Nigerians.
He had also recently amplified the T-Pain alias given to the president by some internet trolls in the country, a moniker typifying the current
Kasim Sumaina in Abuja
The Lagos State Chief Judge, Justice Kazeem Alogba and his counterpart the Attorney General and Commissioner for Justice, Lagos, Lawal Pedro (SAN), have identified a collaborative effort of government agencies, the judiciary, civil societies and community leaders as the pathway to scale up the impact of Restorative Justice in Nigeria.
The duo pointed out that the concept of restorative justice is deeply rooted in healing and reconciliation, noting that the initiative is already being embraced by countries around the world.
They spoke at a stakeholders’ engagement in commemoration of Restorative Justice Week, 2024, organised by Restorative Justice Centre of Lagos State Ministry of Justice with support of the Rule of Law and Anti-Corruption (RoLAC) programme
The programme, funded by the European Union and implemented by the International Institute for Democracy and Electoral Assistance (International IDEA), underscores the essence of collaboration aimed to bring together government agencies, the judiciary, civil society, and community leaders.
Speaking at the event, the Lagos State Chief Judge, pointed out that the concept of restorative justice is deeply rooted in healing and reconciliation, noting that the initiative is already being embraced by countries around the world.
Represented at the event by Justice Adeyinka Adeyemi, the CJ described the conversation on restorative justice
as very apt, saying it came at a time when decongestion of the court is in the front burner of the criminal justice system.
According to him, "We know that in applying restorative justice, few children in conflict with the law have potential of reducing recidivism, promoting integration and rehabilitation of these children who are in conflict with the law.
“Most importantly, it will invariably decongest the court, particularly the magistrate court. This is a welcome development because it will reduce the docket of the court,” Alogba stated.
Similarly, the Attorney General and Commissioner for Justice, Lagos State, Lawal Pedro said restorative justice’s approach aligns with the government’s commitment to fostering a fair, inclusive and people centred justice system.
Pedro, who was represented by a Director and Senior Special Assistant (SSA), Adebayo Haroun, hinted that over the years, Lagos State has been a trailblazer in promoting innovative justice reforms and restorative justice which stands as a cornerstone of these efforts.
He said: "Your role as stakeholders is critical in bridging gaps, creating awareness, and ensuring that every citizen has access to justice that is not only swift but also transformative."
On her part, Mrs. Adeyinka Aroyewun, said the establishment of the Restorative Justice Centre in 2022 marked the beginning of a new chapter in the criminal justice sector.
Aroyewun, in her keynote address, said that since the establishment of the RJ Centre, 177 cases have been referred, with 83 cases resolved amicably.
hardship faced by Nigerians.
Recently, Atiku outlined several economic policies he would have implemented if he had won the 2023 election. He suggested that the Tinubu administration could adopt some of the measures.
The presidency, on the other hand, had accused Atiku of being jealous
of Tinubu’s achievements.
But the president set aside the political differences in a release issued yesterday on his behalf by his Special Adviser on Media and Communications, Sunday Dare. Tinubu stated that the former vice president and Peoples Democratic Party (PDP) presidential candidate in
the 2023 general election had been an active player in Nigeria’s democratic process since the return to civilian rule in 1999.
He recalled many special moments shared with the Wazirin Adamawa as founding members of the All Progressives Congress (APC), united in the mission to
build a better future for Nigerians, as well as their engagement as political opponents in the last presidential election.
The president recognised Atiku’s commitment to public service and philanthropy, and prayed God to continue to grant him health and happiness in the years ahead.
Onyebuchi Ezigbo in Abuja
The federal government has described malaria as not just a health crisis, but also an economic and developmental emergency that is gulping over N1.1 billion on Nigeria's GDP Annually.
The government said it is resolute in its commitment to eliminate malaria and save the citizens from huge out of pocket expenditure.
A statement signed by Deputy Director, Information and Public Relations, Alaba Balogun quoted the Co-ordinating Minister for Health and Social Welfare, Prof. Muhammad Ali Pate, as having stated this at the inaugural meeting of the Advisory on Malaria Elimination in Nigeria (AMEN), which held at the Transcorp Hilton Hotel, Abuja.
Pate said that with the inauguration of the Advisory group, the government has commenced a bold and decisive step to confront and address a wicked problem that has undermined the health and economic
growth of the country
He said: "Malaria continues to exert an unacceptable toll on Nigeria With 27% of global malaria cases and 31% of global malaria deaths, our country bears the heaviest burden of this disease. In 2022, over 180,000 Nigerian children under the age of five lost their lives to malaria- a tragedy we have the tools to prevent".
On its economic consequences of the malaria scourge, the Co-ordinating Minister said: "this is not just a health crisis; it is an economic and developmental emergency. Malaria reduces productivity, increases outof-pocket health expenditures and, compounds the challenges of poverty.
The annual loss to Nigeria's GDP from malaria exceeds $1.1billion, a stark reminder of the economic imperative of elimination."
Pate said that malaria elimination is a critical component of the Nigeria Health Sector Renewal Investment Initiative (NHSRII) framework for transforming the health sector, in
alignment with the Renewed Hope Agenda of the present administration.
While acknowledging the urgency of the task as reflected in the National Malaria Strategic Plan 2021-2025 to amongst others reduce malaria prevalence to below 10%, halve malaria- related mortality by 50 deaths per 1,000 live births; the Co-ordinating Minister highlighted the importance of traditional and religious leaders to drive grassroots support and influence behaviour change.
According to him, Tyr advocacy approach will complement AMEN, in promoting use of insecticide- treated nets, chemo prevention and vaccines.
The Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, affirmed the Advisory body as a group of experts who will provide evidence based advisory to help the country not only to reduce its unacceptable malaria burden but set us on a realistic path to a malaria free Nigeria.
"For us to succeed, private sector, international partners, healthcare workers and, the communities we serve must be harnessed and coordinated", Dr. Salako added. Earlier in her welcome address, the Permanent Secretary Daju Kachollom mni; represented by Dr. Chukwuma Anyaike, Director Public Health Department in the Ministry; stated that the renewed commitment by the present administration has brought a new life to the effort to eliminate the disease.
It is pertinent to state that the Advisory on Malaria Elimination in Nigeria (AMEN) is made up of globally renowned experts under the leadership of Prof. Rose Leke; charged with refocusing on advancing evidence-based solutions that address current challenges, ensuring that malaria elimination is prioritized in the budgets and plans of all levels of government and creating frameworks for accountability that ensure sustained progress.
Tinubu Asks Senate to Screen, Confirm Oluyede’s Appointment
Deji Elumoye and Sunday Aborisade in Abuja
President Bola Tinubu yesterday asked the Senate to screen and confirm the nomination of the Acting Chief of Army Staff (COAS), Lt. Gen. Olufemi Oluyede, for appointment as the substantive army chief.
Tinubu’s letter of request was read at plenary by Senate President Godswill Akpabio.
The president had earlier appointed Oluyede as the acting COAS, following the demise of Lt. Gen. Taoreed Abiodun Lagbaja who hitherto held the position.
The letter read: “In accordance with the provisions of Section 218, Subsection 2 of the Constitution of
the Federal Republic of Nigeria, 1999, as amended, and Section 18, Subsection 1 of the Armed Forces Act, I am pleased to forward for confirmation by the Senate the appointment of Lt. Gen. Oluyede as the Chief of Army Staff of the Federal Republic of Nigeria.
“Lieutenant General Oluyede has been serving diligently in an active capacity since his appointment. He has displayed exceptional leadership, professionalism, and unwavering commitment to the security and continued stability of our nation and the progress of our Armed Forces.
“His qualifications, experience, and contributions to the Nigerian Army and the nation at large make him well suited for this important
role. While I am confident that the Senate will consider and confirm the nominee expeditiously, please accept, Distinguished Senate President and Distinguished Senators, the assurances of my highest consideration.”
Akpabio referred the nomination to the Senate Committee on Army for further legislative work and to report back to plenary as soon as practicable.
Also, Tinubu has nominated three new members to fill existing vacancies on the Board of the Code of Conduct Bureau (CCB).
The announcement, according to a release issued yesterday by the Adviser to the President on Information and Strategy, Bayo Onanuga, was made in a formal letter addressed
to the Senate President.
The nominees are: Alhaji Fatai Ibikunle from Oyo State, Kennedy Ikpeme from Cross River, and Justice Ibrahim Buba, a retired judge of the Federal High Court. Established in 1979, the CCB, which operates with a 10-member board, plays a critical role in maintaining integrity within the public service and ensuring compliance with the country’s ethical standards.
Tinubu had on October 23, 2024 sworn in the chairman of the board, Dr. Abdullahi Bello. The current board membership include: Muritala Kankia, E.J Agbomayinma, Ben Umeano, and Prof. Juwayriyya Badamasiuy. Other members are: Mr. Bulus Zephaniah, and Abdulsalam Olawale.
Emmanuel Addeh in Abuja
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), yesterday knocked the National Bureau of Statistics (NBS) on its latest unemployment and Gross Domestic Product (GDP) data.
The organisation stated the latest information by the NBS on a GDP growth of 3.46 per cent and decline in unemployment to 4.6 per cent for Q3 of 2024 was not a true reflection of the current economic realities of the country.
National President of NACCIMA, Dele Oye, in a statement, said the data did not adequately consider critical factors such as the rising taxation imposed by sub-nationals, the anticipated ramifications of the 2024 tax bill, and the adverse effects of regulatory barriers.
According to him, these factors hinder both local and foreign investment, among others, and therefore do not reflect the lived realities of countless citizens in the country.
“As representatives of the NACCIMA, we feel it is imperative to address the latest release by the NBS which reports Nigeria's GDP growth as 3.46 per cent and the reported decline in unemployment figure to 4.6 per cent for Q3 2024.
“We must advise caution on how these figures are received and interpreted, given the current realities in light of the prevailing economic challenges confronting many Nigerians countrywide.
“The significant disconnect between these statistics and the lived realities of countless citizens is concerning. The Nigerian economy is still weighed down by the effects of hyperinflation stemming from
frequent fuel price hikes, power shortages and Naira devaluation which have resulted in a steep rise in the cost of living on ordinary Nigerians
“Under these circumstances, the assertion of a robust GDP growth appears implausible, particularly as the purchasing power of the average citizen continues to erode alarmingly.
“Moreover, the claim of declining unemployment warrants thorough examination. While the statistics may suggest an improvement, it is crucial to distinguish between those merely recorded as job seekers and the broader challenges of under-employment and informal unemployment that persist in our labour market,” Oye argued.
According to him, many graduates and skilled workers remain unable to secure gainful employ-
ment, making it disheartening to suggest that a mere statistical reduction translates into genuine economic recovery or job creation.
While stating that the reality contradicts the narrative of growth posited by the NBS report, the NACCIMA chief said that the data from the NBS did not adequately consider other critical factors.
“The ongoing volatility within our oil and gas sector, coupled with the lack of innovative collaboration between regulatory agencies and private sector stakeholders who have made substantial investments contradicts the narrative of growth posited by the NBS report.
“Furthermore, the exasperating costs of borrowing, with commercial interest rates hovering between 35 per cent and 40 per cent exacerbate the challenges faced by businesses attempting to maintain operations,
let alone expand and contribute meaningfully to overall GDP growth.
“Therefore, any asserted growth in GDP must be contextualised within the extensive operational hurdles confronting entrepreneurs and the broader implications for sustainable development,” NACCIMA argued.
In light of the above, the organisation urged the government and relevant authorities to engage more vigorously with the organised private sector, acknowledging their insights and addressing their concerns within the policy making process.
Oye maintained that it was essential that statistical reporting reflects the true economic conditions on the ground so that any growth can be measured not just in numbers, but also in terms of real improvements to the quality
AFTER PROLONGED DELAY, MISSED DEADLINES, PORT HARCOURT REFINERY BEGINS OPERATION
decrepit for years.
NNPC had initially failed to make public the litres of petrol, diesel, jet fuel, and naphtha the refinery will roll out, in negation of global best practice. However, citing public criticism, the national oil company later said it was refining 1.4 million litres of petrol per day, an extremely low figure by all estimations.
The two plants located in Eleme in Rivers State, have two operational units established in 1965 and 1989, with a combined installed capacity of 210,000 bpd, the older being a 60, 000 bpd facility, and the relatively newer plant having a 150,000 bpd capacity.
In April 2021, the federal government said the rehabilitation will be done in three phases of 18, 24 and 44 months, with funding expected to come from NNPC’s Internally Generated Revenue (IGR), budgetary provisions, and African Export-Import Bank (Afreximbank). The timelines were missed several times.
But just after the national oil company said yesterday that it had officially begun production from the first phase of the refinery, President Bola Tinubu directed the firm to ensure prompt reactivation of the second phase of the Port Harcourt refinery, as well as the Warri and
Kaduna refineries.
Reacting to the successful reactivation of the main Port Harcourt refinery, Tinubu, in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, stressed that the efforts will significantly enhance domestic production capacity. He explained that this will boost in-country refining, alongside the contributions of privately-owned refineries, and make the country a major energy hub, with the gas sector also enjoying “unprecedented” attention by the administration.
Tinubu underscored his administration's determination to repair the country's refineries, aiming to eradicate the “disheartening” perception of Nigeria as a major crude oil producer that lacked the ability to refine its own resources for domestic consumption.
He extended his congratulations to NNPC on the successful revitalisation of the Port Harcourt refinery, marking the official commencement of petroleum product loading yesterday.
The president acknowledged the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all the national refineries and expressed gratitude to Afreximbank
for financing the project.
Highlighting the value of patience, integrity, and accountability in the rebuilding of the nation’s infrastructure, Tinubu called on individuals, institutions, and citizens entrusted with responsibilities to maintain focus and uphold trust in their service to the nation.
In alignment with the “Renewed Hope Agenda” focused on shared economic prosperity for all, the president reaffirmed his administration's commitment to achieving energy sufficiency, enhancing energy security, and boosting export capacity forAnNigeria.ecstatic NNPC said the reactivation was in fulfilment of its pledge to re-stream the Port Harcourt Refining Company (PHRC), signalling the commencement of crude oil processing from the plant and delivery of petroleum products into the market.
It disclosed that trucks had commenced loading petroleum products, which included Premium Motor Spirit (PMS) or petrol, Automotive Gas Oil (AGO), otherwise called diesel, as well as Household Kerosene (HHK) or kerosene, while other product slates will be dispatched as well.
Speaking during a brief ceremony to mark the commencement of
products loading at the refinery, Group Chief Executive Officer, NNPC, Mr. Mele Kyari, described the start of the load-out activities as a monumental achievement for Nigeria, which signified a new era of energy independence and economic growth for the country.
Kyari particularly thanked Tinubu for his support and understanding towards the rehabilitation project, as well as his persistence to ensure energy security for the country.
Kyari also expressed appreciation to the NNPC Board of Directors and the entire staff for their support and commitment, which crystallised in the streaming of the refinery.
He commended the contractors for doing a great job in ensuring that the refinery was delivered, despite all challenges.
Kyari stated, “We are going to see loading today (yesterday). I just want to add that without leadership support, you cannot achieve results like this. And we are convinced beyond all doubt that without the support, perseverance, and patience of Mr. President, we would not have achieved this feat.
“And all of us must congratulate him because it is his massive pressure that made us to come to this level. And we are very happy. And
2025 BUDGET: MBAH PRESENTS RECORD N971BN TO ENUGU HOUSE OF ASSEMBLY
billion, consisting of N414.3 billion Capital Expenditure, representing 79 per cent of the total budget, and N107.2 billion Recurrent Expenditure, representing about 21 per cent.
However, like the 2024 budget, the 2025 budget proposal emphasised huge investment in education as well as basic but critical infrastructure and amenities, like roads and bridges, water supply, transport services, energy, modernisation and digitisation of public services and associated processes, with the education sector getting the lion’s share of N320.6 billion, representing over 33 per cent of the total budget for two consecutive years.
Mbah said that was in line with his administration’s target of poverty eradication and an inclusive development model, which ensured that no one or segment of the society was left behind.
The governor equally announced a growth in the state’s Internally Generated Revenue (IGR), from N37.4 billion at the end of 2023, to N144.7 billion in September 2024, representing a radical 286.2 per cent increase in line with the administration’s deliberate effort to wean the state off reliance on Federation Account Allocation Committee (FAAC) allocations.
Addressing the Assembly, Mbah said, “In crafting this budget, we have sought to continue to lay the right foundation in Enugu to enhance the economy and attract even more private investment.
“In spite of the dreary economic environment across the country, for us here in Enugu, we have elected to remain bullish in our aspirations, and to double down on our commitment to elevate our state to top three status in terms
of GDP nationally, and eradicate poverty from our midst.
“Indeed, we see this as a vindication of our previously espoused view that sustainable national growth can really only be driven from the sub-national units to the federal levels, and not the other way round as we have attempted to do to date.
“It is on account of this that we are proposing to the House of Assembly, today, a budget with a total envelope of N971,084,000,000.00 as against the budget for 2024 fiscal year, which totalled N521,561,386,000.00.
“This represents an 86.4 per cent increase from the 2024 revised budget. The budget is broken down as follows: N133,140,000,000.00 as Recurrent Expenditure and N837,944,000,000.00 as Capital Expenditure.”
On sources of revenue, Mbah said, “In the area of our revenues, we estimated that total Recurrent revenues during 2025 will amount to N692,179,000,000, as against the approved revised provision for 2024 of N383,789,000,000.00.
“The Recurrent revenues for 2025 are broken down as follows: opening balance – N32,000,000,000; Internally Generated Revenue, IGR – N509,947,000,000; statutory revenue – N48,749,000,000; exchange rate differential – N26,559,000,000; and Value Added Tax, VAT – N74,924,000,000.
“With the total Recurrent Expenditure at N133,140,000,000.00, this translates to a Net Recurrent Revenue of N559,039,000,000.00, which is thus transferred to the Capital Development Fund.
“The total Capital Expenditure for the year 2025 is projected at N837,944,000,000.00 as against N414,334,120,000.00 for the 2024 Revised Budget.
“The Current Capital Expenditure estimate will be funded from the sum of N559,039,000,000.00 to be transferred from the Consolidated Revenue Fund, and the Capital receipts of N278,905,000,000.00 to be realized as follows: External and Internal Aids and Grants – N15,000,000,000; other receipts – N80,202,000,000; Domestic Loans/ Borrowings receipts – N55,000,000,000; and International Loans/Borrowings – N128,503,000,000.”
Meanwhile, in terms of broad sectors, the Economic Sector got the lion’s share of N462 billion, representing 55.1 per cent of the Capital Expenditure, followed by the Social Sector with N345.7 billion, representing 41.2 per cent.
In terms of specific sectors, Education got 33.2 per cent, the largest chunk, in sync with Mbah’s effort to eradicate poverty and graduate the state to a knowledge-based economy.
The governor told the state legislature, “As we must all know by now, education is both our ‘sword’ and ‘shield’ in this battle to achieve economic growth in our state and banish poverty and want among our population.
“Consequently, we are maintaining the ambitious direction we charted in 2024 by voting a total of N320,609,059,000,00 for that sector. This represents 78 per cent of the social sector of the budget and 33.2 per cent of our Capital Expenditure this year.”
Mbah explained that the 2025 budget would also focus greatly on health, road infrastructure, transport, agriculture, and water sectors, among others.
According to him, “There can be no economic growth without quality healthcare. This is why we
are spending N45,830,896,000.00 on the sector this year.
“In the area of Works and Infrastructure, we will continue our relentless advance towards our target to build or refurbish all key roads across the state by 2031. In line with this, we will spend a total of N213,120,267,000.00 in 2025.
“Food inflation is a major component of core inflation in Nigeria. Consequently, food production is critical to moderation of the currently high levels of inflation in the Country. As a result, we will be spending up to N82,300,761,000.00 in the agricultural and agro-industrialisation sector this year.“In the area of Transport, we will be spending a total of N41,132,463,000.00 to expand Enugu Air with the acquisition of 4 additional aircraft. In addition, we will be consummating the concessioning of the Akanu Ibiam international airport as well as the construction of an international cargo terminal. We will also be floating a new taxi scheme in collaboration with the private sector to modernize urban and inter-urban transportation for Ndi Enugu.”
Giving a breakdown of the state’s IGR and overall performance of the 2024 budget, the governor noted a remarkable increase in the state’s IGR since the inception of this administration, explaining that while the state’s IGR stood at N26.8 billion in 2022, the administration raised it by 39 per cent to N37.4 billion at the end of 2023.
As at September 2024, the state’s IGR had drastically increased to ₦144.7 billion, representing a 286.2 per cent
of life and economic opportunities available to Nigerian citizens.
“In conclusion, while the NBS report might convey an optimistic narrative, we implore all stakeholders to consider the complexities and contradictions inherent in our economic landscape. It is only through an authentic understanding of these dynamics that Nigeria can aspire toward sustainable growth and development.
I congratulate my colleagues in the refinery and outside the refinery, our contractors, and even our regulators for helping us and supporting us coming to this level.
“It is possible. This country, this refinery has shown that with persistence, with the right focus, with the right leadership support, which we have today, that we know that anything is possible. And this country is going great under the leadership of President Tinubu.”
In his remarks, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, congratulated NNPC for the milestone. Ahmed assured of his agency’s continued support towards the completion of rehabilitation work on the other refineries.
He said, “I just want to confirm that all the regulatory support that were required by the refinery was granted and offered by the NMDPRA, and my colleagues have been working very closely with the contractor, as well as the management of PHRC.
“What is important, like the contractor said, is the upgrade to new technology.
“So this is an old plant that has come back with the current
increase, the governor disclosed. He expressed confidence that it would surpass N200 billion by the end of the year.
According to the governor, “In terms of budgetary performance, the total revenue realised in the state as at October 2024 came to N459,851,309,396.47, which comes to a budget performance of 88 per cent. Of this amount, N178,354,494,502.47 related to Statutory Receipts, while N136,700,000,000.00 related to Capital Receipts and N144,796,814,894.00 to Internally Generated Revenue.
“As at October, these inflows had been applied to Expenditure with N382,427,929,564.00 as Capital Expenditure and N76,546,090,116.18 as Recurrent Expenditure. These translated to a budget performance of 88 per cent. Additional revenues and Expenditure are still expected before the end of the year, with IGR envisaged to surpass the N200 billion mark.
“While we may make bold to say that our progress in this past year is commendable given the odds that were arraigned against the state economy, we are not yet ready to rest on our oars.”
Speaker of the Assembly, Hon. Uchenna Ugwu, promised early passage of the budget by the legislature to sustain the governor's development strides.
Ugwu said, "He exhibited his leadership mantra, ‘tomorrow is here’. Because you have demonstrated enormous capacity; because you have exhibited enormous potential of the very fabric of our state's economy, I want to assure you that the House of Assembly shall expeditiously consider this and give you the legal framework to continue flying high."
technology. And we are particularly supportive and worked closely with them to ensure that all the regulatory requirements were met. One thing that we have noticed also is the flare.
“If you can all see; the flare is very clean. There is no smoke, which shows that the plant is working very well and in compliance with the environmental requirements.”
Project Director, Maire Tecnimont, Caccaviello Luca, in his intervention, thanked the entire team for the success of the project, stressing that the 60,000 bpd facility is now operating at full capacity.
Luca said, “We did a great job. We succeeded to have the facility in full production, and that is thanks to everybody. The next step soon will be to work on the other part of the area of the facilities, with the same passion, with the same effort.
“And soon, despite all challenges that we will have in front of us, we will have a good result on the rest of the plant.”
The refinery rehabilitation project was an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) project aimed at restoring the refinery to full functionality and renewal. It has so far achieved over 16 million man-hours with zero Loss Time Injury (LTI), it was gathered.
Separately, NNPC said it was aware of “unfounded” claims by certain individuals suggesting that the refinery was not refining products. It explained that for clarity, the old Port Harcourt refinery was currently operating at 70 per cent of its installed capacity, with plans to ramp up to 90 per cent.
NNPC said, in a statement by its spokesman, Olufemi Soneye, reacting to the insinuations, “The refinery is producing the following daily outputs: Straight-run gasoline (Naphtha): Blended into 1.4 million litres of petrol; Kerosene: 900,000 litres; Diesel: 1.5 million litres; Low Pour Fuel Oil (LPFO): 2.1 million litres; Liquefied Petroleum Gas (LPG): Additional volumes.
“It is worth noting that the refinery incorporates crack C5, a blending component from our sister company, Indorama Petrochemicals (formerly Eleme Petrochemicals), to produce petrol that meets required specifications.
“Blending is a standard practice in refineries globally, as no single unit can produce petrol that fully complies with any country’s standards without such processes.
“Additionally, we have made substantial progress on the new Port Harcourt Refinery, which will begin operations soon without prior announcements. We urge Nigerians to focus on the remarkable achievements being realised under the able and progressive leadership of President Bola Tinubu.
“Malicious attacks on clear progress only undermine the significant strides made by NNPC and the country. Let us move forward together in building a stronger and more self-sufficient
The Lagos Chamber of Commerce and Industry (LCCI) has described the recent reduction in price of petrol by the Dangote Refinery as a highly commendable development that stands out as a benchmark for excellence and innovation in Nigeria’s energy sector.
The LCCI stated this yesterday in a statement on "Petrol Price Reduction by Dangote Refinery."
The Director General of LCCI, Dr. Chinyere Almona, who signed the statement, also expressed delight that the controversies surrounding business relationships in the oil and gas sector was gradually dissipating,
bringing a sense of stability to the industry.
Almona said: "The recent reduction in petrol prices facilitated by the Dangote Refinery is highly commendable. This development reflects a significant demonstration of capacity and readiness to meet local petrol demand, offering much-needed relief amid prevailing economic challenges.
“The Dangote Refinery’s proactive approach to addressing energy challenges deserves widespread recognition and encouragement as it sets a benchmark for excellence and innovation in Nigeria’s energy sector.
“Beyond the gesture by Dangote Refinery on fuel price reduction, Nigerians can actually begin to
expect a lower price for petrol if the government decides to sustain the Naira for crude supply to local refineries to refine oil for the Nigerian market.”
She added that with locally refined fuel becoming more competitive and readily available, Nigeria could completely discontinue fuel importation.
“We can only begin to imagine the massive savings for the government and a lessening of the burden on the citizens when we begin to save billions of dollars from the total removal of subsidies, zero debt to fuel importers, and no more queues and loss of man-hours at our filling stations.
“This can actually be a reality if the government can wield the political will and deploy the appropriate economic policies to implement the reforms in the oil and gas sector,” she said.
According to the LCCI, “a full deregulation and implementation of the Petroleum Industry Act (PIA) can create a better-managed oil and gas sector capable of attracting needed investments, creating more jobs as more operators enter the market, and boosting oil production output, which means less pressure on foreign currency demand and more foreign exchange earnings to the government.
“We emphasise that the oil and gas sector is crucial to the nation’s
Justice Akintayo Aluko of the Federal High Court sitting in Lagos, yesterday, adjourned till February 14, 2025 further hearing in a winding up suit filed against Eroton Exploration & Production Company, for alleged inability to pay Brightwaters Energy a consent judgment debt of $20 million.
The adjournment was sequel to a motion filed by Guaranty Trust Bank who is challenging the winding up petition on the ground that the judgement debtor is also owing the bank N250 billion and consequently seeks to join as party to the suit.
However, counsel to Brightwaters Energy (Petitioner), Olume Aju, SAN, raised objection on how GTB will advance such enormous sum of N250bn which was more than the bank capital base as at 2018 when the loan facility was allegedly granted.
But, counsel to Guaranty Trust Bank prayed for an adjournment to enable him furnish the court with evidence of how the loan was given Eroton.
The petitioner, in its motion of March 21, in suit FHC/L/C8/491/2022, is seeking “an order granting leave to Brightwaters Energy to advertise the winding up petition.
The grounds for the relief include: “the respondent is insolvent, has insufficient assets to meet its liabilities and has failed to liquidate indebtedness to the petitioner, which arose from an admitted judgment debt which Eroton consented to through Terms of Settlement and which they have refused to pay more than one year after the judgment was entered into
by court.
The petitioner stated that the 21-day statutory demand notice within the meaning of Section 572 (1) of Companies and Allied Matters Act 2020 had since been issued to the respondent and same has elapsed.
The firm added that notwithstanding the statutory demand notice within the meaning of Section 572 (1) of Companies and Allied Matters Act, 2020, the respondent has refused, failed and/or neglected to defray the debts owed to the petitioner.
The respondent also filed a preliminary objection on May 3, seeking “an order dismissing/ striking out the instant petition for lack of jurisdiction,” on the grounds, among others, that “the petitioner/ respondent (the respondent”), in filing a verifying affidavit with its petition on same date, robbed this court of jurisdiction to hear the instant Petition.”
However, in a counter-affidavit to the preliminary objection, deposed to by Ernest Ugwu, a Legal practitioner in the law firm of Olumide Aju & Co., Solicitors to the Petitioner, he stated that it commenced the winding up proceedings on 21 March 2023 following an uncontested indebtedness owed by the Respondent to the Petitioner as confirmed by the Terms of Settlement voluntarily executed by the parties and a subsequent Consent Judgement entered in Suit No: LD/4344CM/2022: Brightwaters Energy Limited v. Energy Link Infrastructure (Malta) Limited and Eroton Exploration and Production Company Limited (‘Suit 4344’).
He stated that the Terms of Settlement were agreed by the parties and
adopted as the consent judgment of the court in proceedings before the High Court of Lagos State.
He added that the consent judgment delivered by the High Court of Lagos State was a final judgment of that court and has not been set aside as at date.
However, on 7th August 2024, this Honourable Court delivered its ruling granting the Petitioner’s application to advertise the Petition.
He stated: "The Petitioner is not aware of and is not a party to the commercial agreements or arrangements allegedly between the Applicant
and the Respondent.
"The Petitioner’s claims in this Petition or the proceedings before this Honourable Court herein are not subject to the Applicant’s alleged rights or claims in Suit No: FHC/L/ CP/1487/2024: Guaranty Trust Bank v. Eroton Exploration and Production Company Limited, Brightwaters Energy Limited & 18 Ors (‘Suit 1487’).
"I also wish to state that the Petitioner’s claims are also not subject to the alleged commercial agreements between the Applicant and the Respondent.
economic stability and growth. It is, therefore, imperative that the sector is managed with greater efficiency and foresight to prevent such challenges in the future.”
The chamber recalled that it had expressed serious concerns about the recent increases in fuel prices, which have left businesses struggling to
cope with the escalating energy costs. It added: “These rising costs have rendered many products uncompetitive due to unaffordable consumer prices. Energy price hikes remain a significant driver of Nigeria's headline inflation, which stood at 33.88 per cent as of October 2024, further straining the economy and households.”
Public-Private Synergy, Improved Tax Administration, Necessary to Boost Revenue Generation, Says FIRS Boss
Sunday Aborisade in Abuja
The Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, yesterday said an improved tax administration and public-private synergies were essential to raise Nigeria’s revenue generation.
Adedeji made the call in his keynote address at the annual NPO Reports dialogue organised by the Publisher, Mr. Semiu Okanlawon in Abuja.
Adedeji, who was represented on the occasion by the FIRS’s Director of Intergovernmental Relations, Dr. Umar Ahmed, specifically recommended that an improved tax administration would enhance tax collection efficiency, reduce corruption, and increase transparency.
He also suggested public-private synergies through the establishment of clear frameworks for Public-Private Partnership (PPP).
He enumerated the pivotal roles the
revenue generation and infrastructural development played in overcoming economic challenges, which will attract private investment in infrastructure.
Adedeji said, “Revenue generation and infrastructural development are pivotal to overcoming the challenges of a constrained economy.
“By adopting transparent, inclusive, and efficient strategies, government can unlock economic potential, foster innovation and improve public services.
“Improve tax administration: Enhanced tax collection efficiency, reduce corruption, and increase transparency.
“Enhance Public-Private Synergies: Establish clear frameworks for PPPs and encourage innovative financing to attract private investment in infrastructure,” he said.
The FIRS chairman also recommended strengthening institutional framework, adoption of digital solutions, and prioritising strategic projects among others, as necessary steps to overcome the nation's revenue generation challenges.
“Governments should prioritise capacity-building for regulatory bodies to enhance governance and ensure effective policy ‘implementation.
In a bid to reduce unemployment in Nigeria, the World Bank yesterday expressed its readiness to partner the National Youth Service Corps (NYSC), with the it’s Country Director, Ndiame Diop, highlighting corps members' efforts in national unity, cohesion and socio-economic development.
Diop, who spoke when he led a team on a visit to the NYSC headquarters in Abuja, lauded the successive batches of corps members for reducing the infant and maternal mortality rates in the country.
The Director General, NYSC, Brig. Gen. Yushau Ahmed, in his remarks, lauded the existing synergy between the scheme and the World Bank which
has enhanced staff capacity building. He said: "Corps members have tremendously participated in several national assignments like election, population census, sensitisation programmes, immunisation, etc at different times. Corps members are available in all the 774 local government areas in the country."
Ahmed also disclosed that NYSC introduced skills acquisition and entrepreneurship development into its orientation course in 2012 in order to empower corps members with vocational skills that can make them employers of labour.
Meanwhile, the federal government stated yesterday that it had decided to ban foreign trainings for scholars as it plans to spend money training them
locally. The Minister of Education, Dr. Olatunji Alausa made the disclosure at the opening ceremony of a three-day conference organised by the British Council in Abuja.
The theme of the conference was: "Going Global Africa 2024: "Building Sustainable and Relevant Tertiary Institutions and Systems in Africa."
The minister said the government will no longer send scholars abroad for training but will rather train them here in Nigeria.
He said: "We'll be spending substantial money in building simulation labs. We'll be spending substantial amount of money in building and developing our universities, and we have just decided, we've cancelled foreign training for scholars.
“They should also adopt digital solutions as leveraging technology for revenue collection and infrastructure management can enhance transparency, reduce corruption, and increase efficiency.
“Prioritise Strategic Projects: Focus on high-impact projects that offer maximum economic and social returns, such as transportation, energy, and water supply.
“Foster Inclusivity: Engage stakeholders at all levels to ensure that development initiatives address the needs of all social groups.” Adedeji said. Meanwhile a former Nigeria’s Postmaster General, Dr. Ismail Adewusi, on the occasion, called for balance between the ongoing economic reforms and social equity.
L-R: Permanent Secretary, Office of
Engr.
The Trade Union Congress (TUC) has cautioned the federal government against increasing the tax burden on citizens of the country, saying it may result in people evading tax payments.
The trade union urged the government to urgently review its policies and ensure that tax reliefs are granted to more citizens that needed it while measures are put in place to assist those entities being taxed.
It also expressed concern over the antics of some state governments which it alleged have continued to drag their feet on the full implementation of the minimum wage law.
TUC warned the affected states to urgently constitute a minimum wage consequential adjustment committee to finalise modalities for the payment of the new wage.
Addressing journalists in Abuja, yesterday, shortly after the meeting of organs of the union, TUC President, Festus Osifo, said many Nigerians are currently going through excruciating difficulties as a result of the harsh policies of the government.
As a way of reducing the pain on citizens, TUC urged the government to further expand the tax relief corridor for workers so that they could be able to use their earnings to cater for their families.
Speaking on the government's policy on taxation, Osifo said: Comrades, recently you heard that government, brought out issues that are bordering called tax reform.
“Four bills that are currently sitting before the National Assembly on the tax, on the Nigerian tax reform.
"From the TUC we are saying that, as of today, the downtrodden Nigerians, they are passing through excruciating hunger. And they are
passing through pain, as we speak. Yes, government has said that for those that are around minimum wage, that there is going to be tax relief.
"But we hereby call that this should be expanded much more. That need should be expanded so if more Nigerians pass relief, so that they could be able to use their earnings to cater for their families.
"Because as you rightly know, the cost of goods in the market is outside the rules. School fees have gone above board, electricity same
thing, and premium motor spirit same thing.
"So, we want the government to expand the net of those people that they want to give tax relief. It is very, very necessary and it is very, very urgent. Then for those as well, that they are increasing their taxes, we want them to add a retainer.
"Because this is not a time where you have to increase the tax burden of the citizens. Because if you keep increasing the tax burden of the citizens, it is one of those things that leads to tax evasion."
Osifo also commented on the GDP results for the last quarter of this year, describing it as a poor show for the non-service sector.
He said the low performance of the real sectors does give the economy a good standing, "because it is that sector that hires a lot of Nigerians, that will hire a lot of workers, because we want Nigerians to be engaged."
"Sometime yesterday, the GDP results came in for the quarter that just ended.
"Yes, while we are quite happy that the economy is growing, but when
you disaggregate, that GDP figure, you could see that the service sector contributed over 50 percent to the growth of that GDP, of the GDP. And the banking sector contributed higher in the service sector. We love that.
"That is quite good. But government must design policies whereby the agricultural sector, the manufacturing sector, the real estate sector, the construction sector will begin to contribute much more to the GDP.
“Government should encourage these banks to lend much more to
the real sector of the economy." He also said the government was yet to fully deploy the infrastructure for conversion of vehicle engines CNG.
"We have heard in the news that the Port Harcourt refinery has started processing fruit. But we still want to validate that.
"So, we have reached out to our in-house unit, Port Harcourt refinery, to validate that. But beyond the old Port Harcourt refinery, we want government to expedite work on other refineries," he said.
Ndubuisi Francis in Abuja
Nigeria ranks as the country with the world’s second highest climate risk for children, as 90 per cent of children under five years in the country have experienced one form of violence or the other, a new report has said.
"The State of Nigeria’s Children: Summary of the 2024 Situational Analysis of Children and Adolescents in Nigeria (SitAn)" is a collaborative effort between the Ministry of Budget and Economic Planning and the United Nations Children’s Fund Nigeria (UNICEF). It aims to better understand and respond to the challenges facing children and adolescents, and intends to support government's efforts under President Tinubu’s Renewed Hope Agenda to shape policies and shift investment patterns for the benefit all Nigerian children.
Acknowledging that climate change had immense social, economic and environmental consequences for children in Nigeria, the report alluded to health problems, such as pneumonia and diarrhoea, resulting from
polluted air and water due to the frequency and intensity of droughts, floods and extreme heat, which affected children disproportionately.
Worldwide, only one country posed a greater climate risk for children than Nigeria, the report said. It added that Nigeria ranked 179 out of 192 countries on readiness to respond effectively to climate emergencies.
It explained that the effect of climate change disproportionately affected children, stressing that flooding, for example, leads to school closures and reduced access to food, social services and safe water and sanitation.
According to the report, "In 2022, the entire country experienced severe flooding, directly affecting over 3 million people, and February 2024 brought a brutal, prolonged and early bout of extreme heat – a heat wave made 10 times more likely by climate change.
"78 per cent of total air-pollutionrelated pneumonia deaths in 2019 occurred among children under five years of age – the highest proportion globally."
The report observed that the most
pressing need in terms of improving the situation of children and adolescents in Nigeria was for an increased allocation of public budgets to critical child-relevant services. It said allocated funds should be used to reduce poverty and inequalities and to ensure the fulfilment of all children’s rights to safe, quality schools and health facilities.
Some of the revelations of the report included that there were 110 million children and adolescents aged 0–17 years, representing about half of the country’s population. This, the report said, made investment in children a strategic opportunity for building human capital and long-term economic and social development in the country.
It also disclosed that nearly one in two children in the country were living in poverty.
It stressed that Nigeria had made progress in several areas important to children, such as increased birth registration, declines in under-five mortality, reduced rates of female genital mutilation/cutting (FGM/C) and increased acknowledgement of children’s rights (all states ratified
the Child Rights Act).
It stated, "In addition, plans are in place to invest in improving both the health and education systems. Yet many children do not participate in early childhood development programmes or attend school; nearly five million children have been displaced by conflict or climate disasters; others suffer from acute malnutrition and still others are dying from preventable diseases.
"These children and millions of others are unable to realise their rights to education, health, clean water and protection from harm, putting their futures in jeopardy."
Stating that persistently, high levels of deaths among new-borns and mothers were an urgent public health concern, it observed that these
Segun James
The Minister of Interior, Hon. Olubunmi Tunji-Ojo has harped on the need for collaboration among agencies of the government in order to sustain the integrity as well as internal security of the country.
The minister made the call yesterday, in Abuja, at the opening of a roundtable on Public Private Partnership (PPP) to support the Anti-Money Laundering, Combating Financing of Terrorism, and Countering Proliferation Financing (AML/ CFT/ CPF) collaboration in Nigeria.
The roundtable which was organised by the Nigeria Financial Intelligence Unit (NFIU) in collabora-
tion with the London Stock Exchange Group (LSEG), had in attendance Financial Intelligence Units (FIUs) officers from other African countries.
While describing Nigeria as a mixture of the Public and Private Partnership, Tunji-Ojo, observed that Nigeria can only survive in a symbiotic arrangement where people work in unison for the betterment of the country, irrespective of the country's diversity.
He added that if the government of President Bola Ahmed Tinubu, must succeed, all the various agencies as well as ministries must collaborate efforts.
"We must learn to realise that our responsibility is shared, our success is
shared," he said, adding, "our interest should be the success of Nigeria and not our respective agencies."
He stressed that if there was no synergy among agencies of government it would be possible for an individual to make money illegally in one sector and invest it in another, especially in PPP, adding that it is time investors in PPP were vetted by the NFIU. According to him, the origin of every Kobo that is going into PPP must be known in order to completely eradicate money laundering and other illicit funds from the country.
The minister commended NFIU's AML/CFT/CPF achievements, noting that the appointment of Mrs Hafsat
Abubakar Bakari as CEO has brought a new lease of life and collaboration that is enhancing the country's integrity and security architecture . "Anything that borders on internal security has a lot to do with NFIU", he said, "We can always enhance the level of collaboration knowing fully well that we work in the same government, the agenda of the government is the renewed hope of Mr. president and Mr. President is the captain of the ship and he expects all of us to come together, collaborate, and enhance the integrity of Nigeria and secure Nigeria more and be able to place Nigeria on a higher pedestal in terms of the comity of nations."
The Chartered Institute of Marketing (CIM) and National Institute of Marketing, Nigeria (NIMN) have announced a new partnership to advance the profession of marketing, for the benefit of marketers, business and society in both Nigeria and the UK. The partnership between both institutes was designed to support the advancement and mobility of the marketing profession and to provide access to development opportunities.
Practising marketers will also benefit from access to the latest resources needed to develop their skills, drive their careers, and enhance their organisation's performance.
CIM and NIMN partnership would also provide marketers entry to, or exemption from, certain qualifications based on an equivalent level of study or individual modules studied at the partner organisation, providing flexibility and allowing
were most prevalent in the north, in rural areas and among the poorest households.
Other findings were: for every 1,000 live births, 41 babies did not survive, and for every 100,000 women who gave birth, 1,047 died. The report also said: one in every five Nigerian households practised open defecation, posing a risk to children of diarrhoea-related diseases that could lead to malnutrition and are common causes of child mortality; children under three years of age were at greatest risk of diarrhoea and those with mothers lacking education were three times more likely to be affected.
The report said in Nigeria 2.1 million children had never received a vaccination to prevent childhood disease – the highest number globally.
marketers to upskill throughout their careers.
The new partnership streamlines the process for marketers seeking recognition from both CIM and NIMN.
The new offering would allow for joint membership of both professional bodies, allowing Associate Partner members to apply to become graded CIM members, gain access to CIM member benefits and become a Chartered Marketer on completion of CPD activities where criteria are met.
Commenting on the partnership, Chief Executive, CIM, Chris Daly, said: “The official collaboration between the CIM and the NIMN is founded on our mutual goal to elevate the marketing profession for the benefit of individuals, businesses, and society as a whole.
“This strategic alliance, along with our mutual recognition of memberships and qualifications, enables us to offer professional marketers in Nigeria and the UK a clear pathway to advance their careers.”
Email: deji.elumoye@thisdaylive.com
The recent local government poll held in Ogun state, has led to resumption of hostilities between Governor Dapo abiodun and the PDP gubernatorial candidate during the 2023 poll, Hon Ladipupo adebutu. James Sowole reports.
The local government election held on November 16, 2024 in Ogun State, has come and gone with winners already inaugurated into office. However, the dust raised by the poll is yet to settle.
From the day the state electoral body, the Ogun State Independent Electoral Commission (OGSIEC), released guidelines and timetable for the poll, political parties resisted imposition of administrative charges which must be paid by political parties, sponsoring candidates for the poll.
According to the electoral body, each chairmanship candidate, was required to pay N250,000, a male councillorship candidate was asked to pay N150,000 while female councillorship candidate, was expected to pay N100,000, to participate in the election.
This issue of administrative charges dragged for several weeks until, the Ogun State High Court, declared the imposition of the charges on candidates, as illegal, null and void, few days to the election.
Though, tongues started wagging on the conduct of the poll as the voting commenced on the election day, the OGSIEC in early hours of Sunday, November 17, 2024, however, announced 20 All Progressives Congress (APC) chairmanship and 236 councillorship candidates, as winners of the poll contested by 19 political parties.
The 20 APC chairmen were presented with Certificates of Returns and subsequently, sworn in on Monday, November 20, 2024 at the June 12 Cultural Centre, Abeokuta with funfare.
While the voting processes were ongoing, two main opposition parties, the Peoples Democratic Party (PDP) and the Labour Party (LP), alleged irregularities claiming that election did not take place in many polling units because materials, did not get there as at 1:30 pm for an election that will close by 2:00pm. They also alleged that in polling units where voting materials got to, election officials, were not given results sheet to record scores of various candidates.
From one news conference to another, OGSIEC and the State Government, were accused of manipulating the process to frustrate other political parties to the advantage of the ruling APC.
For the local government election proper, it
was assumed that claims and counter claims should have been suspended with the swearing in of the winners until probably, when a tribunal rule otherwise.
However, the reverse was the case as the exercise rekindled the rivalry and cold war between leaders of the two major political parties, Governor Dapo Abiodun of the APC and Hon Oladipupo Adebutu of PDP, who are kinsmen from Iperu in Ikenne Local Government area of the state.
The two “elephants” contested the 2023 Governorship poll, which was eventually, won by Abiodun even as the matter got to the Supreme Court.
The enemity between the two kinsmen, further got worsened, when the State Government alleged that illegal policemen assembled by Adebutu, opened fire on the vice chairmanship candidate of the All Progressives Congress (APC) in Ikenne Local Government, Hon. Muhammed Olaitan Efuwape, and one voter named Biola. Efuwape was said to have escaped death by the whiskers with injuries, but Biola wasn’t so lucky as the gunshots shattered his legs, and he was rushed to a nearby hospital where he was receiving medical attention.
It was alleged that Adebutu illegally
brought in over 40 policemen from MOPOL 49 in Lagos, with PDP thugs riding on Okadas, going around and trying to snatch ballot boxes while brandishing guns and other weapons in Ikenne Local Government in their desperate attempt to scuttle the electoral process.
It was said that Ladi Adebutu’s personal assistant, one Gafar Asaolu, in the company of the illegal policemen, was going from one polling unit to another harassing innocent voters and led the illegal policemen to carry out the assassination attempt on Efuwape at his polling booth.
According to a statement, one of the policemen was apprehended, disarmed and confirmed that he was from MOPOL 49 while the remaining policemen, went to Adebutu’s residence to seek refuge.
The statement said the Inspector General of Police, Kayode Egbetokun’s attention was called and he then ordered that the “illegal” policemen, should be arrested.
Sequel to the allegations, operatives of the Department of State Services (DSS) invited Adebutu for questioning but was released the next day on bail.
But while reviewing the local government poll and its conduct, Adebutu at a news conference, said it was the security aides in the convoy of Governor Abiodun and suspected thugs that attacked people on the election day and later laid siege on his residence in the same Iperu town.
For the local government election proper, it was assumed that claims and counter claims should have been suspended with the swearing in of the winners until probably, when a tribunal rule otherwise. However, the reverse was the case as the exercise rekindled the rivalry and cold war between leaders of the two major political parties, Governor Dapo Abiodun of the APC and Hon Oladipupo Adebutu of PDP, who are kinsmen from Iperu in Ikenne Local Government area of the state.
While condemning the conduct of the election, Adebutu, said suspected thugs, soldiers and policemen, mobilised by Abiodun, were going from one polling unit to the other harassing voters particularly, those suspected to be on the side of the PDP.
He said election, did not hold in more than 4000 out of 4, 044 polling units in the state while results,were declared for all the wards.
Adebutu described the local government poll as a charade and manipulation of people’s will.
In a swift reply, the State Government, described Adebutu’s accusation against Abiodun, as tissue of lies to cover his face and bad conduct.
The state government, in a release by the Special Adviser to the Governor on Media and Strategy, Hon. Kayode Akinmade, described Adebutu as a drowning man who is finding someone to drag with him into the abyss.
Akinmade, in the statement, noted that Ogun State has not witnessed any political violence since Abiodun assumed office, a testament to his peaceful mien.
He noted that contrary to Adebutu’s falsehood, Abiodun had, immediately after voting, headed home straight, where he was until the election, after which he decided to return to Ondo State where the governorship election had just taken place.
He accused Adebutu of political thuggery, adding that contrary to the electoral act, he illegally brought in 40 policemen from MOPOL 49 in Lagos and, along with PDP thugs on Okada who went about with guns, cutlasses and other dangerous weapons, attempting to snatch ballot boxes.
According to Akinmade, one of the polling booths invaded was where the Vice Chairman of Ikenne Local Government, Hon. Muhammed Olaitan Efuwape was about to vote. He was shot by the policemen alongside one other voter. Enraged voters pursued the policemen, who fled to the home of Hon. Adebutu where they took refuge.
He said: “Rather than allowing the policemen to be picked up, Hon. Abebutu aided their escape from his house, while only four were arrested.
The FUZE Talent Show, a trailblazing initiative by Stanbic IBTC Pension Managers, has completed two seasons, leaving an indelible mark on Nigeria’s creative landscape. Designed to discover and nurture young talents, Precious Ugwuzor writes that the show has become a transformative platform, offering Nigerian youth unparalleled opportunities to showcase their creativity, embrace innovation, and chart new paths toward success in the arts and entertainment industry
The FUZE Talent Show stands out as a beacon of opportunity for Nigeria's youth in the vibrant world of creativity and innovation. With its roots deeply embedded in the promotion of artistic expression, the show has completed two seasons, each leaving a lasting impact on the lives of its participants and the broader cultural landscape. As we gear up for the electrifying third season of the FUZE Talent Show, themed "Light it Up", it's a perfect moment to reflect on the achievements of its past winners and the remarkable journey they have embarked on since their victories.
The FUZE Talent Show, an initiative by Stanbic IBTC Pension Managers, has been at the forefront of discovering and nurturing young talents across Nigeria. Participants, ranging from 18 to 35 years old, are given a platform to showcase their skills in music, dance, fashion, technology, and more. It's not just about the competition; it's a celebration and the grooming of talent, ambition, and the relentless pursuit of excellence.
Reflecting on his experience in the FUZE 2.0 competition, Praise Eguaoje secured the first position in the Dance Category. He emphasised that participating in the competition was an incredibly enriching experience for him. “It provided a unique opportunity to meet diverse individuals, each bringing innovative ideas and perspectives. This exposure was enlightening and instrumental in broadening my understanding of my field. It allowed me to see my work from new angles and consider approaches I hadn't considered before, significantly contributing to my professional development.”
“One of the most valuable aspects of the competition was engaging with minds from various backgrounds. This interaction led to a cross-pollination of ideas, enabling me to refine my concepts and strategies. It served as a reminder of the importance of collaboration and diversity in driving progress and innovation.
“Winning the FUZE Talent Show was a transformative experience for me. It boosted my popularity and compelled me to enhance my cinematography skills significantly. In reflection, the competition was a contest and a platform for growth and learning. It underscored the value of openness to new ideas, the importance of preparation, and the benefits of a collaborative spirit. I will carry these lessons with me, applying them not only in my professional endeavours but also in my approach to challenges and opportunities in all areas of life,” Praise said.
Season one introduced us to an array of talents that set the bar high for what the FUZE Talent Show would come to symbolise. The winners, a dynamic blend of musicians, dancers, and fashion designers, shared in the prize money and received mentorship opportunities that propelled them into new realms of their careers. Their success stories became a reference point to the transformative power of the FUZE platform.
Season two elevated the stakes with more participants and an increased prize pool. The winners from this season carved niches for themselves, utilising the exposure and financial support to launch into the professional world. These young creatives have made significant strides, from launching their fashion lines to producing music that resonates with a broad audience. Their achievements underscore the importance of platforms like FUZE in providing a stage and a launching pad for aspiring talents.
Mariam Bello emerged as the top contender in the fashion category in FUZE 2.0 and shared her motivation for participating. She explained, "The driving force behind my decision to join the competition was my strong desire for personal and professional advancement. The chance to present my abilities on such a renowned stage was incredibly motivating. It wasn't just about the competition but an opportunity to engage with like-minded individuals with similar dedication to excellence. Furthermore, my goal was to showcase
our craft's vastness and inherent beauty to a global audience, demonstrating the depth and creativity that fashion entails."
She added, " Since winning the competition, I have had great opportunities to work on several initiatives that have advanced my career. These opportunities have included solo projects that allowed me to refine my talents (and I'm still working on these projects) and collaborations with professionals in the field. The friendships and exposure I gained during the FUZE talent show have been invaluable.”
Looking back, the success of the past winners embodies the essence of the FUZE Talent Show. It's not merely about the financial rewards; it's the mentorship, the exposure, and the invaluable experience of connecting with industry leaders and like-minded peers. These combined elements enabled the winners to refine their crafts, navigate the complexities of their respective industries, and make meaningful contributions to Nigeria's cultural tapestry.
Speaking about her experience, Chioma Ukpabi, who emerged as the winner in the technology category in FUZE 2.0, said, “I chose the Tech Category because italigns directly with our mission at SUWK, where we use technology to democratise access to vocational education. I wanted to demonstrate how EdTech can be a game-changer in education and a tool for social transformation.”
According to Chioma, "I participated in The FUZE TalentShow to showcase the innovative work we are doing at Skill Up With Kahdsole (SUWK) in the EdTech space. I saw it as an opportunity to highlight how technology can be leveraged to address Nigeria's youth unemployment crisis and to inspire others to consider
careers in tech education."
She explained that winning the show has dramatically enhanced SUWK's visibility and credibility. It has opened new opportunities for partnerships and funding, which will help us scale faster. The win reaffirmed my belief in the power of education and technology. It has pushed me to think bigger and work harder to increase SUWK’s impact.
"The victory brought a wave of opportunities. We’ve seen increased interest from investors and potential partners. I've been invited to speak at major EdTech conferences, and we've started conversations with government agencies on expanding our reach. On top of that, more students are enrolling in our programs, and companies are expressing interest in hiring our graduates," she added. Since the win, we’ve restructured SUWK’s model, built a robust Learning Management System (LMS), and enhanced our job portal to better connect graduates with job opportunities. We’re also working on expanding our course offerings in emerging tech fields and growing our partnerships with employers. She stressed that I’ve been dedicating more time to mentoring other EdTech entrepreneurs, ensuring I pay forward the mentorship I’ve received.
Chioma explained, "What might surprise others is how winning hasn't just been about growth and opportunities – it's also brought new challenges. The increased attention means higher expectations, and we're working harder than ever to deliver on our promises. But this pressure has inspired innovation. For instance, we're now developing an AI-powered career guidance tool that we believe will revolutionise how our students plan their learning journeys. The key lesson is that success isn't an endpoint – it's a catalyst for even greater efforts to create positive change."
Joshua Igwe, second runner-up in the FUZE 2.0 Technology category, highlighted that collaborating
Reflecting on the previous editions of the FUZE competition, I am incredibly proud to recount that these trailblazers have not only won but also significantly contributed to the legacy and spirit of innovation that FUZE represents. Their achievements have highlighted the exceptional talents they embody and continue to inspire others while shaping the competition into a prestigious platform for showcasing talent and innovation
with others in the house was enjoyable and added to the competitive atmosphere.
“My experience at the competition was incredibly educational and insightful. I learned a lot about developing my ideas, marketing, and the business side of building a tech product, which I had no prior knowledge of before FUZE. My main challenge was completing the tasks on time. Sometimes, I had to stay up late to ensure I completed the tasks to the best of my abilities.” Joshua revealed that he invested the money he won as the second runner-up into his business. "I used my winnings to invest in my business. I launched two new games, which expanded my online and offline audience. Additionally, I opened a Tech Cafe called Void Cafe by Pomqem, providing a welcoming space for tech enthusiasts to work, play, and connect. I am incredibly proud of launching my tech cafe, mentoring other young Nigerians, and speaking at Nigerian universities and organisations about the future of African tech and video games. The community I have built since winning on FUZE brings me the most joy and fulfils why I participated in the show in the first place."
As we anticipate the third season of the FUZE Talent Show, the stories of past winners serve as a beacon of inspiration for new contestants. With a grand prize of N50 million and the promise of even greater exposure, the upcoming season is poised to uncover and elevate the next generation of Nigerian talent. The journey of the past winners is a vivid reminder of the potential for greatness that lies within the FUZE Talent Show, and it's an open invitation for the youth to dream big, showcase their talents, and perhaps, write their chapter in the annals of FUZE history.
Speaking about the past winners, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, said, "Reflecting on the previous editions of the FUZE competition, I am incredibly proud to recount that these trailblazers have not only won but also significantly contributed to the legacy and spirit of innovation that FUZE represents. Their achievements have highlighted the exceptional talents they embody and continue to inspire others while shaping the competition into a prestigious platform for showcasing talent and innovation."
Olumide stressed, "Looking ahead, we are committed to further elevating the FUZE experience, ensuring it remains a fertile ground for emerging talents to flourish and make their mark. As part of our FUZE family, their insights and experiences are invaluable to us in making the most impact in the future."
Kayode Tokede
Amid impressive loans growth by banks and increasing insurance participation, the financial service sector’s contribution to real Gross Domestic Product (GDP) dropped by 7.7 per cent to N1.11trillion in third quarter of (Q3) 2024 from N1.2 trillion reported in second quarter of (Q2) 2024.
Financial institutions in Nigeria are faced with regulatory/policy uncertainties, macro economic instability, high Non-performing Loans (NPLs), economic inequality and financial inclusion, among other challenges.
On the backdrop of the challenges, the latest report by the National Bureau of Statistics (NBS) revealed that financial service sector witnessed a decline in real GDP growth in Q3 2024.
A breakdown showed that banks in Q3 2024 recorded N1.02 trillion, about 7.9 per cent Quarter-on-Quarter (QoQ) decline from N1.1 trillion in Q2 2024, while insurance sector closed at N91.32 billion in Q3 2024, representing about 6.3 per cent QoQ decline from N97.5 billion reported by NBS in Q2 2024.
The NBS report revealed that the banking and insurance sector consist of the two subsectors, Financial Institutions, and Insurance, in which the former accounted for 91.76 per cent and the latter 8.24 per cent of the sector respectively in real terms in Q3 2024.
The report stated that, “Overall, the sector grew at 74.54 per cent in nominal terms (year-on-year), with the growth rate of Financial Institutions at 75.99 per cent and 59.84 per cent growth rate
recorded for Insurance. The overall rate was higher than Q3 2023 by 44.34percentage points, and lower by 12.05percentage points than the preceding quarter.
“The quarter-on-quarter growth was -13.80per cent. The sector’s contribution to the nominal GDP was 4.72per cent in Q3 2024, higher than the 3.17per cent it represented a year previous, and lower than the contribution of 6.39per cent it made in the preceding quarter.”
“Growth in this sector in real terms totaled 30.83per cent, higher by 2.62percentage points from the rate recorded in the 2023 third quarter and higher by 2.04percentage points from the rate recorded in the preceding quarter.
“Quarter-on-quarter growth in real terms stood at -7.73perr cent. The contribution of Finance and Insurance to real GDP totalled
5.51per cent, higher than the contribution of 4.36per cent recorded in the third quarter of 2023 by 1.15perrcentage points, and lower than 6.57per cent recorded in Q2 2024 by 1.06percentage points,” the report added.
NBS had stated that Nigeria’s GDP grew by 3.46 per cent (yearon-year) in real terms in Q3 2024, stressing that the growth rate is higher than the 2.54 per cent recorded in the Q3 2023 and higher than the second quarter of 2024 growth of 3.19 per cent.
“The performance of the GDP in the third quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 5.19 per cent and contributed 53.58 per cent to the aggregate GDP. The agriculture sector grew by 1.14 per cent, from the growth of 1.30 per cent recorded in the
third quarter of 2023.
“The growth of the industry sector was 2.18 per cent, an improvement from 0.46 per ecnt recorded in the third quarter of 2023. In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2024 compared to the corresponding quarter of 2023.
“In the quarter under review, aggregate GDP at basic price stood at N71,131,091.07 million in nominal terms. This performance is higher when compared to the third quarter of 2023 which recorded aggregate GDP of N60,658,600.37 million, indicating a year-on-year nominal growth of 17.26 per cent,” NBS said.
Analysts have questioned the decline in financial institution and insurance sector contribution to GDP in Q3 2024, expressing the sector’s lending to real sector currently at
N75.85 trillion as of September 2024. One analyst who does not want his name in print stated that the loan books of banks in nine months of 2024 witnessed significant increase that does not reflect in GDP report of NBS.
He expressed that the Fintech companies have played a significant role in lending to real sector, most especially the small and mediumsized enterprises (SMEs) the report failed to capture in the period under review.
THISDAY had reported that credit to the private sector in Nigeria crossed the N75 trillion mark as of September 2024, reflecting a substantial year-on-year growth of around 30per cent compared to N59.5 trillion in the same month of 2023.
After weeks of cash shortages, banks have resumed dispensing cash in their banking halls and via Automated Teller Machines (ATMs) across Lagos, offering relief to residents.
This improvement followed the Central Bank of Nigeria’s (CBN) strict measures to curb cash hoarding and diversion by Deposit Money Banks (DMBs).
The CBN recently announced penalties to enforce compliance, warning banks against diverting
cash to unauthorised hawkers or engaging in practices restricting access to funds.
According to the CBN, banks found guilty of such infractions now face a 10 per cent fine on the value of cash withdrawn from the apex bank, with repeat offenses incurring additional fines of five per cent.
In response to the regulatory clampdown, banks have increased cash disbursements both over the counter and through ATMs. Mystery shopping exercises and spot checks conducted by the
CBN have reinforced compliance, ensuring cash flow to the public as the festive season approaches.
In a widespread investigation, across DMBs across Lagos yesterday, customers reported a significant improvement, with shorter queues at ATMs and consistent cash availability.
“For weeks, accessing cash was almost impossible, and I had to rely on PoS operators who charged high fees. Today, I withdrew cash from an ATM without any issues. This is a big relief,” said a customer, Amarachi
Ofor, who visited an ATM.
In Surulere, another customer, Jubril Ibrahim who was unaware of the CBN directive said: “I don’t know where all this money is coming from. It’s like they printed money plenty because I can withdraw from bank and even bank ATMs are working. This I have not seen in a while.”
A teller at a big supermarket in Ikeja noted that they have been having more cash at the register unlike prior where only cards were used to make purchases.
Another customer, Ibrahim
Wale, noted: “It’s encouraging to see ATMs dispensing cash again. I hope this trend continues, especially as we prepare for the festive season when the demand for cash is usually higher.”
A bank customer, Bola Adegoke, shared her relief after withdrawing cash from an ATM in Yaba. “It was exhausting having to search for ATMs that were working. Even when you found one, the queues were endless. Now, I can withdraw cash without any stress. I just hope this continues, especially
as Christmas approaches when everyone will need more money,” she said.
Taxi driver, Yusuf Bello echoed similar sentiments, highlighting the impact on his business saying, “There was a time I couldn’t even buy fuel because I couldn’t access cash. Customers didn’t have cash to pay either, so business was bad. Things are better now, and it’s helping us move forward.”
eromosele Abiodun posits that the Comptroller General of the Nigeria Customs Service, Bashir Wale Adeniyi’s promise to embrace a new era of excellence has been fulfilled as evidenced in the record breaking N5.1 trillion revenue generation
In his maiden address to the officers and men of the Nigeria Customs Service (NCS) on assumption of office tagged, “Embracing a New Era of Excellence,” Comptroller General of the NCS, Bashir Wale Adeniyi said: “Today, we stand at the precipice of an exciting future, one that builds upon the achievements of the past and takes us even further. Our administration is committed to adopting a bottom-up approach, where the needs of our dear nation take precedence over everything else. We will prioritise efficiency in service delivery as the bedrock of trade facilitation and revenue generation. No longer shall encumbrances impede trade; we shall dismantle obstacles and foster a new culture of consultations and compliance.”
He added, “In order to achieve our objectives, it is imperative that we bridge the current human resource gap within our ranks. We recognise the importance of capacity building and career advancement for our officers. The administration will work diligently to implement career advancement opportunities approved by the board, ensuring that competence remains the sole criterion for assigning responsibilities and measuring effectiveness. Our focus is on cultivating a highly skilled workforce that is equipped to face the challenges of a rapidly changing world.”
Eight months down the line, Adeniyi has lived this talk. Anything to the contrary is malice. The following statistics tells the story. In the first quarter of this year, the NCS demonstrated remarkable performance in revenue collection, collecting a total revenue of N1,347,675,608,972.75. The collection for Q1 represented a substantial increase of 122.35 per cent, compared to the same period in 2023, when it report N606,119,935,146.67. A month-by-month analysis illustrated the service’s impressive growth trajectory. In January 2024, revenue collection surged by 95.60 per cent, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023.
The upward trend continued in February 2024, with a staggering 138.68 per cent growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS grew by 132.76 per cent from N217,669,949,432.28 to N506,642,193,019.05. When compared to the federal government’s annual revenue target of N5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of N423 billion.
The NCS reported an average monthly revenue growth of 6.2 per cent over the set monthly target and a cumulative revenue collection of 18.6 per cent, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion. Also, the NCS recorded a total of 572 seizures, encompassing various items valued at N10,593,099,654.50 in Duty Paid Value (DPV). Notably, January saw 111 seizures amounting to N842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling N3,704,703,350.34. The second quarter of the year was even better as the NCS has reported N2.74 trillion revenue, surpassing its targets by 8 per cent, with e-auctions and duty windows boosting growth.
The performance also represented a 127 per cent increase over the previous year’s revenue. The service collected N1.39 trillion in the second quarter of the year, exceeding the quarterly target by 10 per cent and 131 per cent increase over Q2 2023. The growth is attributable to the positive performance initiatives; including the e-auction platform which generated over N1.34 billion, and the 90-day duty payment window for uncustomed vehicles which raked in N4.37 billion.
SuRPASSing 2024 Revenue TARgeT
Continuing in the same trajectory, the Nigeria Customs Service, a few days ago announced that it has collected N5.079 trillionn revenue, exceeding its revenue target for 2024.
Adeniyi, disclosed this at the 2024 Comptroller-General of Customs Conference in Abuja.
The conference was themed, “Nigeria Customs Service: Engaging traditional and new partners with purpose.” He expressed optimism in the service’s capacity to achieve more for the economy.
“Our strategic engagements and collaborative approaches have yielded remarkable results across our core statutory responsibilities. I am pleased to announce that yesterday November 12, 2024, the NCS hit its 2024 revenue target of N5.07 trillion collecting N5.079 trillion with more than a month remaining in the fiscal year,” Adeniyi said.
Adeniyi stated that the exceptional performance projected to exceed the service’s target by 10 per cent validates their partnership-driven approach to revenue collection and trade facilitation.
According to him, the achievement is not merely about numbers, “it demonstrates how enhanced stakeholder collaboration, improved processes, and modernized systems can deliver tangible results for the nation’s economy.”
He stressed that the momentum of the NCS’s modernisation initiatives continues to build and yield immediate benefits for the stakeholders.
Adeniyi
Speaking on the trade facilitation strides of the service, Adeniyi said that the Authorised Economic Operators now has six beneficiaries in its pilot phase, carefully selected based on stringent compliance criteria.
He added that 31 requests had been processed under an advance ruling program with 12 rulings issued adding that 75 per cent were completed in October following our stakeholder sensitization efforts aimed at fostering quicker customs decisionmaking on import and export cargoes ahead of their arrival at the ports.
“Additionally, the introduction of 24-hour cargo clearance at major ports has significantly reduced dwell time; the completion of Nigeria’s first Time Release Study now provides us with empirical data to measure and improve our efficiency; our enhanced risk management systems are streamlining operations; and the deployment of non-intrusive inspection equipment is accelerating cargo examination while maintaining robust controls,” he said.
Meanwhile, the NCS’s CG stated that in fulfilling their enforcement mandate, the service has achieved unprecedented success in protecting both the citizens and the economy.
“The scale of our intervention is reflected in seizures valued at N28.1bn and counting in 2024 alone. These seizures span critical areas of national concern from wildlife items and arms and ammunition to narcotics and pharmaceutical products,” Adeniyi stated.
He added that an important moment in the service’s enforcement strategy was the declaration of a state of emergency at major ports, “which led to the interception of 48 containers of illicit pharmaceutical items and narcotics, significantly disrupting the flow of potentially harmful products.”
He vowed that through strategic operations, the service would continue to intercept and seize prohibited items that pose direct threats to public health and safety.
He said that the enforcement activities have been particularly impactful in addressing items that could worsen our current economic challenges.
Adeniyi lauded the service Operation Whirlwind which is a joint initiative with the guidance of the Office of the National Security Adviser and the support of the Nigerian Midstream and Downstream Petroleum Regulatory Agency to suppress fuel smuggling.
He reiterated that the joint initiative to combat petroleum product smuggling demonstrates how inter-agency cooperation can effectively protect national resources and ensure economic stability.
FedeRAl goveRnmenT
ReFoRmS
Speaking, President Bola Tinubu, who was represented by the National Security Adviser
(NSA), Malam Nuhu Ribadu, said building on foundational reforms, the government had expanded focus to strengthen the country’s global trade and investment position, stressing that the strategic initiatives have enhanced trade facilitation, and modernised port infrastructure, and streamlining business processes to reduce trade barriers.
He said his administration’s commitment to creating an enabling business environment had resonated with the international investment community adding that confidence in the economy is reflected in the significant surge in foreign direct investments.
Notably, the president said the results of his administration’s initiatives across the NCS’ core mandates had been encouraging, adding that the service had shown remarkable progress in revenue generation, enhancing the government’s capacity to fund critical national development projects.
The president particularly praised customs under Adeniyi for strengthening Nigeria’s position as a trade-friendly nation through strategic reforms, particularly in export promotion and port efficiency, noting that this had contributed significantly to improved global ranking and ease of doing business for the country.
He said the service had demonstrated that effective trade facilitation could coexist with robust regulatory compliance, as evidenced by its enhanced border security and anti-smuggling operations.
Tinubu said, “These achievements affirm our administration’s belief that public institutions can effectively drive transformative change when adequately aligned with national objectives. While these results are encouraging, they represent only the beginning of what we can achieve through focused institutional reforms and alignment with national objectives.
“It is, therefore, fitting that this conference centres on the theme “NCS Engaging Traditional and New Partners with Purpose.” This theme reflects our administration’s broader vision of fostering strategic partnerships and collaborative approaches to governance and economic management. It acknowledges that sustainable progress in today’s interconnected global economy requires us to strengthen existing alliances while building new ones, always guided by clear purpose and shared objectives.”
The president also assured the NCS that his administration remained committed to supporting its modernisation and reform initiatives, stating that “We will continue to provide the necessary policy backing and enablement to strengthen the service’s capacity to deliver on its mandates. This includes support for technological advancement, infrastructure development, and capacity-building
programs that align with global best practices.”
Tinubu further reassured Nigerians that things were changing for the better especially in terms of the security situation in the country, noting that terrorists were being neutralised on a daily basis and kicked out of the country.
He said gone were the days when career officers in customs were jettisoned in the appointment of its leadership.
The president said, “When I assumed office last year, I set out with a clear and unwavering vision - to strengthen Nigeria’s economic base and deliver positive growth and development for the benefit of all. 18 months later, the vision remains unchanged. In pursuing this vision, we have built upon existing foundations while introducing necessary reforms to adapt to our evolving economic realities. Our focus has been on strengthening what works, refining what needs improvement, and introducing new initiatives where gaps exist. We recognised that specific economic policies, though useful in their time, needed to be realigned with current global economic dynamics to better serve our national interests and the well-being of our people.”
Addressing the conference virtually, the DirectorGeneral of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, said to achieve the country’s ambitious growth targets of 2050, “we will have to shift gears and start comparing ourselves with global leaders in facilitating trade and try to match their performance.”
Okonjo-Iweala, who commended ongoing trade reform in the customs, however, noted that there’s still “much more room to improve”.
She also disclosed that the WTO members would be reviewing Nigeria’s trade policies this week, adding that the WTO Secretary-General’s Report on Nigeria’s Trade Policy Review will provide valuable insights on the country’s trade policy environment and how it could be improved.
She further acknowledged that customs is also piloting the new Authorized Economic Operator scheme that promises to speed up trade for authorised companies if implemented well, noting that border agencies are working together to try and implement joint inspections.
She said customs reforms complement the government’s move to normalise the foreign exchange regime and remove restrictions on the use of foreign exchange for some imports, both of which will help to boost trade adding that much needed to be done in this regard.
She said, “Let me highlight a few potential areas for future reform. The first is risk management. In many developed economies, the share of consignments elected for physical inspection is lower than 1 per cent, while in Nigeria it is around 90 per cent, with an additional 9 per cent of consignments scanned.
“Without improving risk management and reducing inspection rates accordingly, speeding up port and border clearance in a meaningful manner would be impossible. Of course, better risk management will have to go hand in hand with better compliance by firms, improved targeting and feedback from inspections, and less discretion on the part of individual officials to ensure customs’ own rules and regulations are predictably and consistently applied, all coupled with effective sanctions.
“Better risk management, information sharing among agencies, and faster clearance will all contribute to reducing delays. One of the biggest problems we face in customs in Nigeria is this issue of discretion on the part of individual officers. We all know why. So, it is also an area where we have to work hard to convince officers that if we don’t succeed and make changes here, we will not visibly improve on delays.”
AnlCA APPlAudS nCS
Commenting on the performance, the National President of the Association of Nigerian Licensed Customs Agents (ANLCA), Emenike Nwokeoji, commended the NCS for exceeding its 2024 revenue target. Nwokeoji hailed the achievement as a testament to the agency’s dedication to fiscal responsibility.
“On behalf of the Association of Nigerian Licensed Customs Agents, we are sharing this success with you. Your happiness is ours because every kobo that was generated was declared by a licensed customs agent. If there are any infractions in these declarations, the first person to bear the brunt is the licensed agent, whose practicing license would be suspended,” he said. Nwokeoji emphasised the critical role of customs agents in revenue generation and trade facilitation, referencing the Nigeria Customs Service Act 2023. “The Act recognizes us as customs representatives. We are here representing you and helping in trade facilitation and revenue generation,” he stated.
Oluchi Chibuzor
The Minister of Trade and Investment, Dr. Jumoke Oduwole, has said that the federal government will reinvigorate commodities boards in the country, while removing bureaucratic bottlenecks hindering non-oil export contribution to the nation’s gross domestic product (GDP).
She stated this in Lagos at a Ministerial Export Consultation event yesterday, while hosting exporters and other key government agencies under her purview.
According to her, “But the President is committed to this. We are also going to re-establish and reinvigorate our commodities exchange. There is a lot that we have geared up for Nigeria. Suffice to say that it will take everybody’s commitment. You have seen that the GDP is moving in the right direction. Please encourage the Nigerian economy. The reforms may have been tough, but we are already
turning the corner. So let’s all continue together to make this economy work.”
She promised to work towards resolving all issues and challenges raised by the exporters, noting that President Bola Tinubu has given her the marching order to deliver.
“So for collaboration amongst the agencies, you heard a number of the exporters allude to the fact that I’ve been working on the trade reforms for nearly a decade now. The challenges, the silos, the miscommunication, the overlapping. We’re determined to make sure that the regulatory and bureaucratic challenges, which are well known to us coming from a public background, are systematically addressed,” she said.
Speaking, Permanent Secretary, FMITI, Nura Abba Rimi, said the stakeholders’ consultation engagement is tailored towards strengthening Nigeria’s export sector. According to him, “The Ministry remains steadfast in
its mandate to create enabling policies and frameworks that enhance export competitiveness. Through the feedback and insights from this engagement, we aim to fine-tune interventions, tackle critical points such as market access, regulatory bottlenecks, infrastructural constraints and ensure alignment with global best practices.”
Commenting, the ComptrollerGeneral of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, said the event provides an opportunity for, “us to consolidate on the little progress that has been achieved in the economy.”
He however, assured Nigerians that the service under his watch will never support corruption or impede trade .
“Never are we going to allow our processes and procedures to constitute an impediment to the development of exports. Never are we going to allow corruption and corrupt practices to stand in the way of exports development in Nigeria,” he affirmed.
Ecobank Nigeria has commenced Design & Build Expo 2024, an initiative to support over 52 small and medium enterprises (SMEs) across the value-chain of construction, and interior design.
Starting today to December 1, 2024, in Lagos at Ecobank’s head office, the five-day event, the bank said, reflects its ongoing commitment to fostering innovation and collaboration within Nigeria’s SME sector, widely regarded as the backbone of
the nation’s economy.
With the theme, “Building Nigeria Together,” the expo will showcase cutting-edge designs and sustainable practices, while offering attendees access to tailored financial solutions such as bespoke mortgage plans and construction loans.
Participants will connect with developers, architects, and industry leaders, with opportunities to explore products and services that promise to reshape Nigeria’s real estate and construction sectors.
Speaking to a press brief-
ing, Ecobank’s Head of SME, Partnerships, and Collaboration, Omoboye Odu, described the initiative as a platform for enabling Nigerian entrepreneurs to scale their businesses and expand their visibility.
She said: “The Design & Build Expo 2024 is an initiative of Ecobank Nigeria. It is designed to showcase the latest trends, innovations, and sustainable practices in Architecture, Construction, Building Materials, Household Appliances, Engineering and Interior Design Sectors.”
In line with President Bola Ahmed Tinubu’s administration’s efforts to attract investment into the oil and gas sector, the Nigerian Content Development and Monitoring Board (NCDMB), is set to introduce new Contracting Cycle Guidelines for the industry at the Practical Nigerian Content (PNC) Forum, which will be held in Yenagoa, Bayelsa State.
These guidelines, it said in a statement, aim to expedite contract timelines, boost investment in the sector, and enhance Nigeria’s crude oil production.
“This year’s event brings together industry leaders, policymakers, regulators, and professionals from around the world in the energy industry. With a strategic agenda focused on Nigerian content, the forum
promises insightful dialogue to drive further implementation across the industry. PNC 2024 will serve as a vital platform for industry stakeholders to review successes, address pressing challenges, and explore opportunities for expanding Nigerian content implementation,” it said.
Spanning four days, the forum will feature 20 distinguished speakers across six sessions and welcome over 750 delegates, including 50 esteemed industry experts, policymakers, regulators, and professionals. Confirmed speakers include; Sen. Heineken Lokpobiri, Honourable Minister of State for Petroleum Resources (Oil) of Nigeria, H.E. Hon. Ekperikpe Ekpo, Honourable Minister of State for Petroleum Resources (Gas) of Nigeria; Engr. Felix Omatsola Ogbe, Executive
Secretary of NCDMB; Gbenga Komolafe, Commission Chief Executive Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mele Kolo Kyari, Group Chief Executive Officer, NNPC Limited; Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organisation (APPO); Jim Swartz, Chairman & Managing Director, Chevron Nigeria/ Mid-Africa Business Unit, etc Portfolio Director - Africa & Country Director - Nigeria at dmg Nigeria events, Wemimo Oyelana, remarked, “PNC Forum 2024 arrives at a pivotal time for Nigeria’s oil and gas industry, as transformative projects and significant investments drive a new era for the sector. This year’s event will address the critical need to build
TCLin association with Sims Nigeria Limited, their sole franchise partner in Nigeria, organized a Dealers Meet tagged “TCL/Sims Dealers Meet”.
In a statement, it said the event brought together the crème de la crème of dealers and distributors of TCLwho had been consistent in the Dealer Scheme launched by TCL. The statement also noted that the scheme rewarded participants with, an allexpense paid trip, the opportunity to explore TCL’s latest product range and
participate in shaping TCL plans in Nigeria. More than 70 dealers and distributors of TCL participated in the Business Dealerssession in Lagos.
Chief Operating Officer of Sims Nigeria Limited, Mr. Ike Eyisi, in the statement said, “I am pleased to witness the overwhelming success of TCL/Sims Dealers Meet in Lagos, Nigeria. This event has not only strengthened our partnership but also showcased TCL’s commitment to excellence in the consumer electronics industry. We look forward
to continued success and growth together.”
Reflecting on the success of the Dealers Meet in Nigeria, TCL MEA Smart Screen Operations Director, Mr. Zhang Yiheng, noted: “The Dealers Meet has been instrumental in connecting with our valued partners and the wider dealer network. I congratulate our dealers and distributors for meeting the targets and joining the event at Lagos, Nigeria. It also provided a valuable opportunity to showcase our new 115 inches TV and discuss our strategic vision for the future.
The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference
Kayode Tokede
The stock market yesterday closed northward with a gain of N9 billion, buoyed by price uptick in Lafarge Africa Plc and 23 others.
Accordingly, the Nigerian Exchange Limited All Share Index (ASI) gained by 13.61 basis points, or 0.01 per cent to close at 97,639.88 basis points. Also, market capitalisation gained N9
billion to close at N59.178 trillion.
Analyzing by sectors, the NGX Insurance (+0.9per cent), NGX Industrial Goods (+0.8per cent), NGX Oil & Gas (+0.4per cent), and NGX Consumer Goods (+0.1per cent), while the NGX Banking index (-0.2per cent) declined.
Also, investor sentiment, as measured by market breadth, slightly declined as 24 stocks ad -
vanced, while 25 declined. Haldane McCall recorded the highest price gain of 9.98 per cent to close at N6.17, per share. SUNU Assurance followed with a gain of 9.80 per cent to close at N3.81, while Japaul Gold & Ventures rose by 9.72 per cent to close at N2.37, per share.
Prestige Assurance appreciated by 9.64 per cent to close at 91 kobo, while NEIMETH International
Pharmaceuticals up by 9.55 per cent to close at N2.18, per share.
On the other hand, Multiverse Mining and Exploration led the losers’ chart by 9.92 per cent, to close at N5.90, per share. Tantalizers followed with a decline of 9.30 per cent to close at N1.17, while UPDC Real Estate Investment Trust declined by 9.01 per cent to close at N5.05, per share.
Universal Insurance depreciated by 5.88 per cent to close at 32 kobo, while RT Briscoe Nigeria declined by 5.67 per cent to close at N2.66, per share.
However, the total volume traded decreased by 17.75 per cent to 552.110 million units, valued at N8.031 billion, and exchanged in 9,305 deals. Transactions in the shares of Haldane McCall topped the activity chart with 177.113 million
shares valued at N1.093 billion. Tantalizers followed with 36.987 million shares worth N46.652 million, while United Bank for Africa (UBA) traded 29.599 million shares valued at N947.307 million.
Prestige Assurance traded 28.585 million shares valued at N25.581 million, while FBNH Holdings (FBNH) sold 21.500 million shares worth N536.214 million.
Chuks Okocha in Abuja
Former Vice President of Nigeria, Atiku Abubakar, has described the Rivers State governor, Siminalayi Fubara as a restorer of the glory of the oil-rich state, saying, “he is the Moses of our time.”
In a statement by his media office,
Atiku made the remarks in Port Harcourt through one of his aides, Hon. Dimeji Fabiyi, who represented him at an event in commemoration of the United Nations Day Against Women-based Violence, organised by a body known as Nice Esther For All Foundation and hosted by its founder, Mrs. Nice Alameyeseigha.
According to Atiku, “Women have continued to be agents of positive change through generations. Our common destiny to a better future is only a reality when we give women the support and encouragement that they require to lead the charge for social reforms.
“Today (Monday), we are all
seated here in the beautiful city of Port Harcourt. This gathering is itself a manifestation of positive change that was brought about by women's action.
“In Rivers State, there is a leader called Governor Siminalayi Fubara, who possesses a manifestation of the prophecy of Moses, by being
Yinka Kolawole in Osogbo
The former President Olusegun Obasanjo yesterday broke his silence on rumours of his death, saying that it was orchestrated by his enemies who wanted him dead.
Since Monday, rumours of Obasanjo's death flooded social media but no one could authoritatively confirm if he was alive or dead.
But all talks of his death were abruptly squashed when the expresident was physically present at the inauguration of the 2.7 kilometre Olaiya -Okefia-Lameco dual carriage road, in Osogbo, Osun State capital, on Tuesday.
The road commissioning was part of the activities lined up for the
Senate Okays Bill Seeking Cassava Inclusion in Edible Wheat Flour
A bill seeking to mandate inclusion of cassava flour in edible wheat flour production passed second reading at the Senate yesterday.
The bill specifically seeks to mandate inclusion of 20 per cent high-quality cassava flour in wheat by all producers of edible flour in Nigeria or imported into the country.
It was sponsored by the senator representing Kwara Central Senatorial District under the platform of the All Progressives Congress (APC), Saliu Mustapha.
The bill has been referred to the Senate Committee on Agriculture for further legislative actions.
The Senate President, Godswill Akpabio, directed the committee to report back to the Senate within four weeks.
Mustapha, while leading a debate on the bill, stressed the need to use cassava as parts of the recipe for wheat flour production.
He said it would reduce the cost of importation of wheat which presently stands at over $3b per annum.
He complained that the continuous importation of wheat has impacted the Nigerian economy negatively by causing trade imbal-
ance, loss of foreign exchange and fueling food dependency.
The senator argued that when the bill is passed into law, it would stimulate job creation in the agriculture sector and increase Nigeria's market share of cassava earnings in foreign exchange.
He also noted that the law would enhance the efficiency of cassava productions and processing operations to poverty alleviation, economy growth and food security.
Majority of the senators supported the bill. The Deputy Senate President, Barau Jibrin, said the bill is in the interest of the country.
Jibrin noted that the inclusion of cassava in wheat flour production was good for bread making but noted that Nigerian bakers refused to adhere.
Barau said: “This bill is all about our national interest. It is important to utilise what we produce everywhere in this country. In the north, in the south and everywhere.
“Every state produces cassava. It is one of the crops that you can find everywhere.
“Experts have concluded that using a certain amount of cassava added to wheat is good for us in bread baking. Yes, we need legislation because this thing has been said over and over again.
celebration of two years anniversary of Governor Ademola Adeleke in office.
It would be recalled that Adeleke was sworn in as the sixth elected governor of Osun State on Sunday, 27th of November, 2022.
While inaugurating the newly constructed road, Obasanjo who commended Governor Adeleke for his laudable achievements within the space of two years said he was happy to be in Osun state for the project commissioning, dismissing his death rumour.
Obasanjo said: "Yesterday, Monday, some set of people woke up in the morning and wrote on social media that Obasanjo has passed away. And I started receiving calls from family and friends that some people announced my death on social media, when I opened my phone, I saw it too and I started sharing the death message to my
family and friends, indicating that I'm still alive.
"There is no joy beyond announcing my existence myself while some rumour mongers wish me dead. I know that whatever they wish me shall be their portion".
Speaking on the road project, former President Obasanjo who recalled how the governor was ridiculously tagged a dancer described Adeleke's achievements within two years as laudable.
" As we commissioned this road today you have proved your critics who ridiculously tagged you as a dancer wrong because you are also performing.
He also endorsed the governor for second term in office.
Speaking, Governor Adeleke promised to continue to implement projects that would have direct impact on the lives of the people of the state.
a restorer of peace and glory to his people,” Fabiyi said on behalf of Atiku.
He further remarked that, “Rivers State, we must all remember, has a long history of being the political capital of the South-south.
“The city of Port-Harcourt occupies a pride of place in our beautiful country and that is a fact that no one can deny.
“We give thanks to the Almighty God that He has chosen to add to the many blessings of Rivers State by making His Excellency Similayi Fubara the governor of this great state today.
“One of the stories in the scriptures that both main religions in Nigeria have in common is the story of Moses. God favours the people of Israel and He sent Moses to deliver them from the wickedness of Pharaoh.
“The major lesson in the story of Moses is that Moses was raised in the palace of the Pharaoh. Anyone who knows that story very well will know that Governor Fubara is the Moses of today and that the people of Rivers State are God’s people.
“Today, in Port Harcourt, we have a governor who has flushed away the footprints of political godfathers who thought they could play God. And today, we are proud and certain that God is on our side, not just in Rivers State but also all over Nigeria.
“I am here to represent a true friend of Rivers State in the person of Atiku Abubakar. And I am happy to announce to everyone here present,
that when the new dawn comes in Nigeria, it shall be remembered that Port Harcourt played the first part by standing strong against the tyrants of today.”
Fabiyi said further that Atiku specifically asked him to thank Governor Fubara for, `’his enviable courage, doggedness and wisdom in the face of provocations, and also to assure the governor of his solid support in his quest to make good impact in the lives of the people of Rivers State.”
Atiku further urged the people of Rivers State to stand firmly behind Governor Fubara as he leads them, saying: “Fubara is the Moses God has blessed you with to take you to the promised land and he must be supported by all in the mission.”
The former Vice President commended the effort of the organizers of the event for promoting seminars on non-violence against women, saying that he would have personally been at the event, which coincides with his birthday anniversary, but for his tight schedule.
“To our host of today, Dr. Nice Alameyeisigha, I recognize your efforts and appreciate you for what you're doing. As my unapologetic supporter, if not for my birthday that coincides with this event today, I should have been there to honour you in person.
“I thank you immensely and appreciate you for being a shining light and strong voice in the advocacy for women and children development, care and empowerment. There is nothing like impacting humanity,” Atiku said.
The High Command of the Nigerian military yesterday, identified the use of Improvise Explosive Devise (IEDs) by terrorists, as the major challenge to the counter terrorism operations in the North-east theatre.
The military also noted that it ought to be creative and innovative in navigating this identified threat as the terrorists are not relenting in their evil enterprise.
The Chief of Defence Staff (CDS), Gen. Christopher Musa, made this disclosure in Abuja during the official opening of Security and Justice Symposium, organised by Office of the National Security Adviser (ONSA), in collaboration with British High Commission, Abuja.
According to him, "For us in the armed forces, the challenges we
are facing since the emergence of insurgency is the IEDs. We are looking at the new things that we can do to navigate this peculiar challenge.
"We have to be creative to fight insurgency. We have to be creative and innovative every day because they are not relenting. We also have to look at how we can tackle terrorist informants, those supporting the terrorists by giving them logistics.
"We have to go after them. We also need to go after terrorist financiers. As a theatre commander in the northeast, I found out that if we are able to deny them access to funding and logistics, we would have succeeded in cutting off the oxygen that sustains their life.
"We did that and that was why we had a lot of them surrender to troops. If we replicate that across all theatres, we would have similar results. We must work together as
a team, very important".
In his address of welcome, the National Security Adviser (NSA), Mallam Nuhu Ribadu, said that the Security and Justice Symposium was a vital platform for dialogue and collaborations amongst esteem security and justice institutions.
The objectives of the symposium, he said was to delve into successes, challenges and opportunities for growth within the realm of security and justice.
According to him, "As we embark on this journey of critical analysis and introspection, let us keep in mind the noble goals set before us. From analysing and strengthening the intricate relationship between military operations and law enforcement, to enhancing the protection of civilians and fostering a culture of justice and accountability, to promoting a unified
approach in countering improvise explosive devices.
"Each objective is poised to make a significant impact. Our intended achievements and ambition are entirely within our reach, as we review our existing framework, evaluate institutional practices and establish collaborative mechanism, our collective effort will chart a course towards a safer and more just society for all".
The British High Commissioner, Richard Montgomery, said the symposium was one of the ideas which came out of the UK-Nigeria Security and Defence Dialogue, held in February this year.
Stressing that their dialogue recognised the complexity of the modern security challenges, a complexity which requires a multifaceted response.
Adibe Emenyonu in Benin City
Chairman, Edo Peoples Democratic Party (PDP) Caretaker Committee, Dr. Tony Aziegbemi, on Tuesday
expressed worry over what it described as very troubling and disturbing developments in Edo State under the All Progressives Congress-led administration, which,
UNDP: Our Regional Stabilization Facility Has Impacted 7.2m Nigerians in North-east
Seriki Adinoyi in Jos
The United Nations Development Program (UNDP) has commended the governments of Adamawa, Borno, and Yobe States for their exceptional leadership and unwavering commitment to stabilization efforts under its Regional Stabilization Facility (RSF) which has positively impacted over 7.2 million persons in the states.
UNDP Team Lead for Governance, Peace, and Security, Mr. Matthew Alao, who noted this during the opening ceremony of a 10-day training session for law enforcement officers in Jos, observed that the effective leadership in these states has been instrumental in advancing recovery initiatives, rebuilding essential infrastructure, and restoring hope to communities devastated by the Boko Haram insurgency.
Alao noted that the RSF has helped these states in implementing projects designed to enhance safety, improve access to justice, and reconstruct vital public structures, including police stations, barracks, and courts.
Represented by the UNDP Public Security Coordination Specialist Usman Babangida, Alao underscored that the success of the RSF is fundamentally reliant on government
ownership and commitment.
He said: “So far, under the Regional Stabilization Facility, we have impacted over 7.2 million persons across Borno, Adamawa, and Yobe States. This has been achieved through improved safety and security, access to justice, and critical infrastructure rehabilitation.
“Stabilization must be governmentdriven. The governors of Borno, Adamawa, and Yobe have shown exceptional commitment and ownership, leading the stabilization process with great dedication.”
The ongoing training program in Jos, with the theme ‘Strengthening Ethical Policing and Mental Resilience’, is to equip over 120 officers from various law enforcement agencies with skills in ethical practices, gender sensitivity, and mental health support.
Usman highlighted the importance of addressing psychological challenges faced by officers in conflictaffected areas, noting that “Law enforcement officers are often at the frontline of trauma in communities. Without mental resilience, it becomes difficult to provide accountable and ethical service. Innovative methods, including role-playing and drama, are being used to help participants to bridge the gap between theory and practice.
if not appropriately addressed, could spell doom for democracy.
Briefing journalists in Benin City, Aziegbemi accused the state governor, Mr. Monday Okpebholo of running a government that is not interested in accountability and transparency but promoting anarchy to distort efforts at reclaiming the mandate duly given to the PDP and its candidate Asue Ighodalo at the September 21 governorship election.
Aziegbemi said the state governor, Senator Monday Okpebholo, through his actions and inactions, is setting a dangerous tone for crisis and breach of public peace since assumption of office in just 14 days.
He said: "It has become imperative to draw the attention of the public and other stakeholders to the very troubling and disturbing developments in Edo State under the All Progressives Congress-led administration, which, if not ap-
propriately addressed, could spell doom for our democracy and serve as a recipe for anarchy and instability, thereby threatening the peace, progress and security of our dear state.
"It is most unfortunate and disappointing that in just 14 days in office, the governor-select, Monday Okpebholo, through his actions and inactions, have succeeded in setting a dangerous tone for crisis and breach of public peace, and we are worried that this troubling precedent may just be an ignition for a conflagration that may well be avoided."
He alleged that in just last week, the APC mobilized thugs to attack the PDP Secretariat on Airport Road, in Benin City, in their desperation to intimidate and frustrate the party's efforts at reclaiming the mandate duly given to the PDP and its candidate Asue Ighodalo at the September 21 governorship election.
Aziegbemi added that the in same manner, political thugs working for the government as “government vehicle recovery agents” led by a chieftain of the APC in the state, broke into the private residence of the immediate past governor of the state HE Godwin Obaseki in Gestapo style, assaulting and harassing security personnel at the premises.
"This is most reprehensible and unacceptable, and we urge relevant security agencies to thoroughly investigate these barbaric attacks and ensure that the perpetrators of this lawless and dastardly acts are brought to book."
Aziegbemi however called on all Edo people, civil society organisations, and well-meaning Nigerians to beam their attention on the Okpebholo administration so as to prevent a descent into avoidable dissater, with dire consequences on
the peace and security of the state. Reacting to the allegations by the Chairman, Edo Peoples Democratic Party (PDP) Caretaker Committee Dr. Tony Aziegbemi, Mr. Fred Itua, Chief Press Secretary to Edo State governor, said that the factional chapter of the Peoples Democratic Party in Edo State is yet to accept the clear reality that it has assumed the arduous role of an opposition party, adding that the governor of Edo State, is in a hurry to develop the state.
"Since his inauguration a fortnight ago, he has remained undaunted, living up to the people’s expectations. "Barely one week in office, he addressed and solved what the Godwin Obaseki-led administration could not confront in eight years. He has banned activities of touts across various markets in Edo State, hired by the Obaseki-led administration. " Itua said.
George Okoh in Makutdi, Segun Awofadeji in Gombe and Deji Elumoye in Abuja
Vice President Senator Kashim Shettima on Tuesday in Makurdi said late Dr. Paul Wantaregh Unongo was a selfless leader who was committed to truth, unity and justice of the country.
Born on September 26, 1935, Dr. Unongo, a former Minister of Steel Development in the Second Republic, died at the age of 87, on Tuesday, November 29, 2022. His remains will be laid to rest this weekend in his hometown, Unongo
Village, in Kwande Local Government Area of Benue State.
His body was transported from Jos, the Plateau State capital, to Makurdi on Tuesday for a wake held at Ibrahim Badamasi Babangida Square, Makurdi.
According to Shettima, Unongo’s life was a testament to leadership anchored in service, leaving behind a legacy of unwavering integrity.
He said: “Pa Unongo lived not for himself but for the betterment of others. He exemplified leadership rooted in service, and his legacy is one of unflinching integrity.
“Departing at the venerable age
Nume Ekeghe
Tehilah Oluchukwu Isimah, a 16 year old student of Everest Heights International Academy, Gwagwalada, Abuja, has emerged as the winner of the 14th edition of the UBA Foundation National Essay Competition (NEC). UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa (UBA) Group.
At the Grand Finale at the UBA House in Lagos yesterday, Isimah clinched the top prize of a N7.5 million educational grant, which will support her university education at any African institution of her choice. While receiving her winning grant,
trophy, certificate, plaque and other gifts, Isimah, who couldn’t contain her joy, said: “I am so happy, I prayed and worked so hard for this, even though I am a science student, I have always loved writing. I am very glad this dream of mine came through. UBA Foundation, this is answered prayers for me, I will forever be grateful.
Isimah’s mother who was also at the event said, “I can’t believe this, this is really happening, thank you UBA Foundation, this is indeed a dream come through for us, I am so happy.”
Obinna-Chukwu Chikamara Christabel of Regina Pacis College, Abuja,came second, earning a N5 million grant, while Essien Greatness
Emediong of the Nigerian Christian Institute, Uyo, Akwa Ibom, clinched the third position with a N3.5 million grant.
Notably, the trend of female students dominating the top spots continued this year, with Tehilah and Chikamara taking the first and second positions, respectively. Essien’s success as the second runner-up marks a significant achievement, being the first male finalist to secure a top position in the past three years.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who congratulated all the winners, emphasized the bank’s goal to promote education across the African continent, inspiring and
empowering young people for the future, through the UBA Foundation. He said: "At the UBA Foundation, education has always been our cornerstone. We believe that knowledge is the most powerful catalyst for transformative change. By investing in education, we are not just teaching - we are empowering individuals to become architects of their own futures and catalysts for broader societal progress,” the GMD stated.
The 20 finalists who emerged winners from the regional tests all won brand new laptops, and other beautiful collaterals to help them with their research and study towards their tertiary education.
of 87, Pa Unongo was among the fortunate few who witnessed the fruits of his labour in his lifetime.
Many live long only to contradict the ideals of their younger years, but he was an exception.
“He remained a model of dignity, humility, and purpose. A father figure to generations of scholars, public servants, politicians, and community leaders, Pa Unongo demonstrated that leadership can transcend time—that service to one’s people can endure even after retirement from the public stage.
“Eighty-seven years were enough for this exceptional man to write a manual on managing excellence.
From his beginnings as a brilliant psychologist revolutionising academia in Nigeria to his dedication to national service.
“Pa Unongo’s life testifies to the heights that vision, discipline, and determination can achieve.
“He was not just a scholar or a politician; he was a statesman in the truest sense—a man who put the needs of his people and his nation above all else.”
The Vice President further noted, “As others aged into quiet retirement, Pa Unongo chose a more arduous path. He became a unifier, a voice for the collective, and a champion of regional harmony. As Chairman of the Northern Elders’ Forum (NEF), succeeding the revered Alhaji Maitama Sule, he shouldered a weight few could carry.
“In a region often defined by its complexity and diversity, he offered wisdom, tact, and a vision of unity
that transcended ethnic and religious divides. It was no small feat to speak for such a multifaceted region, yet he did so with grace and integrity.”
On his part, the Chairman of the Northern States Governors Forum and Governor of Gombe State, Muhammadu Inuwa Yahaya, joined Vice President Shettima, and other prominent northern leaders to honour late Paul Unongo.
Speaking at the event, Governor Inuwa Yahaya described Unongo as a teacher, leader, and unifier whose exemplary life continues to inspire many.
In a press release issued by Ismaila Uba Misilli, Director-General (Press Affairs), Government House, Gombe, which was made available to Journalists Tuesday, Governor Inuwa Yahaya said: "He came, he saw, and he conquered. He was more than just a leader; he was a teacher and mentor to many", the NSGF Chairman stated.
"On behalf of the Northern Governors Forum, we extend our heartfelt condolences to his family and loved ones. While we mourn his passing, we also take this moment to celebrate the remarkable life he lived and the enduring legacy he has left behind, a legacy that will continue to inspire generations to come."
Governor Inuwa Yahaya recalled Unongo’s service as Convener of the Northern Elders' Forum, during which he was known for his steadfast stance on addressing critical issues such as peace, security, agriculture, education, and economic development of the region.
L-R: Major General Olu Bajowa, (Rtd), 1st Patron, Institute of Security, Nigeria, Prof. Dele Olowokudejo; President, Institute of Security, Nigeria, Prof. Ayodele Victoria Atsenuwa; Deputy Vice Chancellor, Development Services, University of Lagos, Prof.Rahaman Bello; Chairman of the occasion, Amb. Tukur Buratai (Lt. Gen Rtd), former Chief of Army Staff and second patron, Institute of Security Nigeria; and Mr. Adebayo Akinade, Deputy President and Chief Executive Officer, at the 17th yearly meeting of the institute, in Lagos…last Saturday
Barring any last-minute changes, the Economic and Financial Crimes Commission (EFCC) will today arraign the immediate past governor
of Kogi State, Yahaya Bello, before a High Court of the Federal Capital Territory (FCT), Abuja. Bello's arraignment is coming several months after the anti-graft agency attempted to arrest and
prosecute him over alleged money laundering and other charges. News of his arraignment came shortly after he turned himself in to the commission which had sought a warrant for his arrest as far back
as April this year. Recall that the former governor had on September 18, turned himself in to the anti-graft agency who had filed charges against him before the Federal High Court and the High
Delta State House of Assembly, Tuesday passed the State Appropriation Bill, aka Delta State Budget, for the services of the state for 2025 financial year.
The passed budget christened “Budget of Fiscal Consolidation”, saw an increase of the total amount from 936. 1 billion naira presented to House last week for legislative actions by the State Governor, Rt Hon Sheriff Oborevwori to 979.2 billion naira.
The breakdown of the amount showed the recurrent expenditure estimate amended from 348.717 billion naira to 348.767 billion naira, while capital expenditure was moved to 630.461 billion naira from 587.361 billion naira.
The amendment according to the Chairman, Assembly Committee on Finance and Appropriation, Hon Maryln Okowa-Daramola, represents an increase of 50 million naira which is 0.014% over the proposed recurrent expenditure and an increase of 43.1 billion naira which is 7.34% over the
original proposed capital expenditure budget estimate sent to the House by Governor Oborevwori.
Hon Okowa-Daramola presentation of her committee’s report led the Lawmakers dissolving into Committee of Supply, chaired by the Speaker, Rt Hon Emomotimi Guwor, to consider proposed amendments in the various sections and clauses of the bill.
She announced the total amended budget size as Nine hundred and seventy nine billion, two hundred and twenty eight million, eight hundred and eighteen thousand, seven hundred and nineteen naira only.
“Mr Speaker, after a critical examination of all the recommendations received from sub-committees, the Finance and Appropriations Committee recommends that the House consider and pass the sum of three hundred and forty eight billion, seven hundred and sixty seven million, seven hundred and fifty eight thousand, six hundred and thirty
five naira as approved appropriation in recurrent expenditure.
“And the sum of six hundred and thirty billion, four hundred and sixty one million, sixty thousand and eighty four naira only as approved appropriation in capital expenditure”, Okowa-Daramola stated.
The Lawmaker who represents Ika North East Constituency in the House, also recommended that the year 2025 approved budget be monitored for effective implementation.
Okowa-Daramola stressed that the 2025 budget clearly captures the policy direction of the State government, noting that the budgetary estimates reflect the goals of the MORE agenda of Governor Sheriff Oborevwori.
After careful scrutiny of amendments sought by the Finance and Appropriation Committee at the Committee of Supply, the bill was read the third time and passed in unanimous voice votes.
The Speaker, Emomotimi Dennis Guwor, said the passage of the 2025
energy sector.”
Meanwhile, the national leadership of Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) yesterday commended Tinubu and Kyari for the commencement of refining and loading at the Port Harcourt refinery.
Aside NMDPRA, the Major Energies Marketers Association of Nigeria (MEMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and PETROAN also witnessed the commencement of operation at the refinery.Others stakeholders at the event were Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), among others.
Speaking to THISDAY, the national
spokesperson of PETROAN, Dr Joseph Obele, said the commencement of operation at the refinery was an evidence of commitment from stakeholders.
Obele credited the success of the project to Tinubu’s determination, stressing that it is happening after six years’ dormancy.
The Dr Billy Gillis-Harry-led body expressed optimism that the commencement of production at the refinery will usher in job opportunities, boost the economy, and trigger competition in the downstream sector, and result significantly in a downward price review.
PETROAN said, "PETROAN reaffirms her commitment to synergising with the management of NNPC retail and other stakeholders in ensuring that products lifted at the Port Harcourt refinery are well distributed to all the nooks and crannies of the nation at the right
time with the right price"
Obele also dismissed insinuations that there will be a one-off loading at the refinery.
He stated, "We went round and the plant is up and running. As we speak, all the tanks are filled up with petroleum products. The benefit of what has happened today (Tuesday) is the fact that era of monopoly is gone, competition will now set in.
“Those who choose to buy from Dangote will buy from Dangote, those who choose to buy from the NNPC that commenced today can buy from NNPC."
Obele also commended the host, Alesa Eleme, and other communities for their peaceful disposition during the rehabilitation. He called on the management of RCC, the company handling the East-West Road, to ensure speedy completion of the road to facilitate the smooth movement of trucks.
appropriation bill is a significant milestone to drive development across Delta State.
The Speaker also noted that the legislative accomplishment was a testament to the collective responsibility of the State Legislature to the welfare and prosperity of the State.
Guwor while commending the House Committee on Finance and Appropriation as well as sub committees for their relentless effort in scrutinizing the financial document for 2025 fiscal year, also commended the Lawmakers for a job well done.
He added that the house will continue to leave up to its responsibility and would continue to synergies with the Executive in ensuring the dividends of democracy gets to Deltans.
The Tuesday’s plenary session was observed by Leaders of the 25 local government Councils’ Legislative Arms in Delta State.
Court of the FCT, both in Abuja.
After waiting for several hours without anyone attending to him, the former governor had left the premises without been interrogated or detained.
However, in his second surrender to the headquarters of the EFCC, Thisday learnt that he was arrested on Tuesday afternoon shortly after he entered into the headquarters of the commission in the Jabi, Area of Abuja.
According to the spokesman of the commission, Mr. Dele Oyewale, the former governor was arrested around 12.45 pm and would be arraigned on Wednesday.
He added that Bello was with three of his lawyers when he was arrested.
Unlike his first visit, Bello was not accompanied by the current governor of Kogi State, Usman Ododo.
His submission is believed to have come from the recent Supreme Court judgment which dismissed some states suit challenging the constitutionality of the anti-graft agency.
It was also reliably gathered that the former governor drove himself in a black hilux to the EFCC office with his lawyers.
There were insinuations last week that he was going to visit the EFCC but the former governor's media aides did not respond to enquiries on the information.
At the last hearing on November 14, the EFCC had sought for adjournment to tomorrow (November
27) in the fresh case it instituted against Bello, saying the 30-day window was still running for the summons earlier issued.
The EFCC, however, admitted his co-defendants, Umar Oricha and Abdulsalami Hudu, to administrative bail and prayed the court for extension of time for the 1st Defendant to appear.
The EFCC had on September 25 filed fresh charges against Bello and two others at a High Court of the Federal Capital Territory.
In the suit marked: CR/7781/2024, Bello, Umar Shuaibu Oricha and Abdulsalami Hudu, are accused of spending over N110 billion of public funds to acquire several properties in Abuja and in Dubai.
The suit dated September 24 but filed on September 25, by the anti-graft agency's lawyer, Mr kemi Pinheiro, SAN, accused the defendants of criminal breach of trust, an offence punishable under Section 312 of the Penal Code Laws of Northern Nigeria, 1963. Count one of the charge read: “that you, Yahaya Adoza Bello, Umar Shuaibu Oricha and Abdulsalami Hudu sometimes in 2016 in Abuja, within the Jurisdiction of this Honourble Court agreed amongst yourselves to cause to be done an illegal act to wit: criminal breach of trust in respect of the total sum of N110, 446, 470, 089.00 (One Hundred and Ten Billion, Four Hundred and Forty six Million, Four Hundred and Seventy Thousand, Eighty Nine Naira) entrusted to you".
Emmanuel Addeh in Abuja
The Federal Ministries of Power and Water Resources and Sanitation have taken a step towards sustainable development with the official signing of a Memorandum of Understanding (MoU) for the implementation of the World Bank Sustainable Power and Irrigation Project for Nigeria (SPIN) programme.
The signing ceremony took place yesterday in Abuja, marking a collaborative effort to harness Nigeria’s abundant hydropower potential, a statement from the power ministry said.
Minister of Power, Chief Adebayo Adelabu and his counterpart in Water Resources and Sanitation, Joseph Utsev, signed the MoU in the presence of senior government officials, development partners from the World
Bank and other key stakeholders, the statement signed by Adelabu’s spokesman, Bolaji Tunji, said.
Adelabu highlighted the significance of SPIN in diversifying Nigeria’s energy mix, enhancing energy security, and combating climate change.
He noted that hydropower currently contributes about 20 per cent of Nigeria’s grid supply, with a potential estimated at 14GW (14,000 megawatts) of which only 15 per cent has been tapped.
“This collaboration underscores the federal government's commitment to leveraging our natural resources for sustainable development,” Adelabu stated.
“Through SPIN, we aim to optimise water resources to provide clean and reliable energy while supporting irrigation and agriculture for
enhanced food security,” he added.
The Minister of Water Resources and Sanitation echoed the same sentiment, emphasising the importance of integrating water and energy to foster socio-economic growth.
“ These projects will deliver the dividends of democracy that Nigerians are waiting for. The federal government, with support from the World Bank, remains dedicated to addressing developmental challenges in the country and delivering transformative results through innovative and strategic partnerships”, he said.
The SPIN initiative aligns with Nigeria’s energy transition plan and the 2023 Electricity Act, both of which prioritise renewable energy and infrastructure development to drive economic growth and environmental sustainability, the statement said.
Patron,
Managing Director, BetKing, Gossy Ukanwoke, during a courtesy visit by Hart to BetKing Corporate Headquarters in Lagos…recently
Emmanuel Ugwu-Nwogo in Umuahia
The Peoples Democratic Party (PDP) in Abia State has set up a shadow legislature in a renewed move to assert its right to produce a principal officer, especially Majority Leader, of the state House of Assembly. The state Chairman of Abia State PDP, Hon Amah Abraham, announced the new development yesterday after a meeting of the State Working Committee (SWC) and expanded State Executive Committee of the party in Umuahia.
Edo State Governor, Senator Monday Okpebholo, has appointed seasoned journalist and media strategist Sulaiman Aledeh as the substantive Managing Director of Edo Broadcasting Service (EBS), which oversees the state-owned television and radio stations.
In a statement, the Chief Press Secretary to Edo State Governor, Fred Itua, stated that the appointment takes immediate effect.
Aledeh, a distinguished international journalist and communications expert with over 20 years of experience, brings a wealth of expertise to the role.
His career spans contributions to renowned global media platforms, including Al Jazeera, South Africa Broadcasting Corporation (SABC), and GB News UK. He is currently a news anchor at Arise News and a commentator on Classic FM.
Aledeh, a graduate of Philosophy from the University of Benin (1999), he began his media career while still a student, working at Edo Broadcasting Service. He later served at Ebonyi Radio during his National Youth Service Corps (NYSC) scheme, becoming the first corps member permitted to read the station’s major news bulletin.
1,000
Michael Olugbode in abuja
Automotive Gas Nigeria Limited (Autogas Nigeria) has trained over 1,000 Nigerians in auto gas installation and conversion techniques in order to effectively serve the growing conversion of vehicles from fuel-powered to Compressed Natural Gas (CNG) system.
Addressing journalists in Abuja on the forthcoming annual conference hosted by Autogas Nigeria on CNG scheduled from December 4 and 5 tagged: ‘Accelerating CNG revolution: innovation, efficiency and sustainability’,
the Managing Director/ CEO, Automotive Gas Nigeria Limited (Autogas Nigeria), Hajiya Maryam, said there is need to take advantage of Nigeria adopting Compressed Natural Gas (CNG) as an alternative fuel to reduce its carbon footprint, diversify its energy mix, and improve energy security and also reducing the cost of transportation thereby cushion the effects of economic hardship on the Nigeria citizen.
She noted that it was on this perimeter that Automotive Gas Nigeria Limited is hosting the CNG conference.
Human rights activist, Benedicta A. Madunagu, popularly known as Bene Madunagu, is dead.Chairman of the SOLAR Board of Trustees, Biodun Jeyifo, disclosed this in a statement yesterday, saying Bene, a leftist like her husband, Edwin Madunagu, breathed her last early yesterday morning at the Madunagu residence in Calabar, Cross River State, Nigeria.
“With profound gratitude for her life, her achievements and her contributions to the struggles for equality, justice and dignity for all, I hereby announce the transition early
this(Tuesday) morning of Comrade Benedicta A. Madunagu, known universally and affectionately simply as “Bene”. She was aged 77 years and passed away peacefully at the Madunagu residence in Calabar,” Jeyifo said.
Although this is not a tribute but a formal announcement made on behalf of the family and the Nigerian Left, I wish to state here that my sense of profound loss in Bene’s passing is matched by an equally profound celebration of her life and achievements,” he added.
He named Hon Solomon Akpulonu, who represents Obingwa East State constituency and the most
experienced legislator in the House, as the Speaker of the PDP shadow legislature.
At the inauguration of
the eighth Abia Assembly last June, Abia PDP hads 11 lawmakers while the Labour Party (LP) has nine, Young
Progressives Party(YP) has two and All Progressives Congress (APC ) has one member.
Laleye Dipoinminna
The Police in Niger State have said that four suspects have been arrested in connection with the murder of a Minna-based private photographer.
The 33-year-old Zaccheus Salawudeen of Tudun-Fulani area of Minna was attacked in his residence, robbed and stabbed to death on February 27 this year.
For ten months, the police have been on the trail of the killer of the photographer resulting in their painstaking investigation paying off when the crack squad of the Command apprehended the suspects around the River Basin area of the state capital last October.
Those arrested in connection with crime, according to the Police Public Relations Officer (PPRO),
Superintendent of Police Wasiu Abiodun, are 19-year-old Mustapha Ibrahim popularly called ‘Sniper’; 21-year-old Shamson Rabiu, Bashar Aliyu alias Gizo, 20, and Abdullahi Umar, 19.
Abiodun in a statement said the suspects have confessed to committing the crime, disclosing that they (suspects) took the life of the photographer because they
learnt he had collected “huge contribution.”
Abiodun said in the confession of the suspects they were disappointed when they found out that it was only N95,000 that was collected by the victim as “contribution” making one of them known as Danladi now at large to stab the photographer in the stomach leading to his death.
Mary Nnah
In a stark warning, PalmPay Nigeria’s Managing Director, Mr Chika Nwosu, has highlighted the alarming rise in fraud level in the country with over 11,500 cases reported in Q2 2024 alone.
Speaking during an anti-fraud walk to commemorate the 2024
International Fraud Awareness Week, Nwosu emphasised that fraud is a systemic threat that undermines trust, compromises security, and disrupts progress.
“Fraud is more than just a crime - it is a systemic threat that undermines trust, compromises security, and disrupts progress,” Nwosu warned, adding that: “Its
effects are far-reaching, impacting personal livelihoods and the integrity of businesses.”
Nwosu revealed that as digital payment platforms rapidly expand across Nigeria, fraudsters have unfortunately seized the opportunity to exploit vulnerabilities in the system.
Mobile, web, and POS channels are now prime targets for criminal activities.
He noted further that recent statistics from the Financial Institutions Training Centre (FITC) revealed that over 11,500 fraud cases were reported in Q2 2024, a stark reminder of growing sophistication and persistence of these threats.
Segun Awofadeji inbauchi
Bauchi State Governor, Sen Bala
Mohammed Abdulkadir has said that his administration will continue to partner with United Nations Children’s Fund (UNICEF) in improving maternal and child
health in the state.
The governor stated this yesterday during an award and Recognition Ceremony for Fathers for Good Health Initiative, a volunteer programme operating in the two Local Government Areas of Misau and Ningi, in the State held at the
Banquet Hall, Government House, Bauchi.
Governor Mohammed said that Bauchi State has benefitted immensely in its partnership with UNICEF, in the areas of health and education pledging to sustain mutual understanding with UNICEF and other partners in enhancing critical sectors of the state. He applauded UNICEF for initiating the Fathers for Good Health Group to champion the zero dose vaccination campaign in the two local government areas benefiting from the initiative.
Raheem Akingbolu
Noor Takaful Insurance Limited has launched a new Health Maintenance Organisation (HMO), Noor Health, with the aim of providing access to reliable, quality, and affordable healthcare in line with Sharia principles.
The company also unveiled its new digital solution, Raha by Noor, which is targeted at improving efficiency and creating ease and convenience for all its participants. The new solution and platform were unveiled during the second edition of the African Takaful and Non-Interest Finance conference.
In his opening remarks on the occasion, the founding Chairman of the Noor Group, Ambassador Shuaib Ahmed, described the launch of Noor Health and Raha by Noor as a significant milestone and a leap in the company’s collective vision for a healthier and more financially inclusive Nigeria. Ahmed noted that the expansion of Noor Takaful, which incorporates comprehensive health solutions and digital accessibility, offers a lot of hope and pride.
Sunday Okobi
Norrenberger Asset Management Limited (NAML), a subsidiary of Norrenberger Holding Company Limited, has appointed Pabina Yinkere as the Managing Director/CEO of NAML.
The company described this development as milestone achievement “which is a testament to his industry and dexterity in steering the affairs of our asset management business and leading it on a path of accelerated growth.
“It is also in recognition
of his efforts in driving the team to deliver exceptional value to our clients and stakeholders. The appointment also underscores the company’s commitment to recognizing and rewarding leadership excellence, innovation, and dedication to driving growth.”
In a statement, the Group Managing Director/CEO, Norrenberger Holding Company Limited, Tony Edeh, stated that Yinkere has consistently demonstrated exceptional expertise and transformative leadership within Norrenberger Asset Management.
Gbenga Sodeinde in ado Ekiti
Ekiti State Governor Mr Biodun Oyebanji has been decorated with the prestigious University of Ibadan UI@75 Ambassador in recognition of his exemplary leadership and outstanding
contributions to the development of education, good governance, community welfare, as well as national development
Presenting the award at a brief ceremony at the Executive Council Chamber, Governor’s Office, in Ado-Ekiti, the Vice
Chancellor of the University, Professor Kayode Adebowale, said the honour was in recognition of the governor’s visionary leadership, which has led to the implementation of several educational reforms, infrastructure upgrade as well as provision of critical resources for schools and universities in Ekiti State. He noted that the governor’s efforts have had a positive impact on the academic community, not just in Ekiti, but across the nation.
Duro Ikhazuagbe
UEFA Europa League cup holders, Atalanta, appear not keen to let go their prized Nigerian forward, Ademola Lookman, whom they got for just €15million from Bundesliga side RB Leipzig in August 2022.
After helping the Italian side to win their very first European honour last year, scoring all three goals in the final against Bayer Leverkusen, now, Atalanta, have made a firm €70 million asking price for the Super Eagles striker.
TEAMtalkrevealed yesterday that West Ham United are among several clubs keeping an eye on the Atalanta winger, who has drawn interest from teams considering his return to the Premier League. K CaughtOffsidealso reported that Manchester United are ready to compete with Real Madrid to sign the Atalanta winger in the summer.
According to information from TuttoMercatoWeb, the Italian club are demanding €70 million for Lookman and will not let him leave for less.
Italian journalist Paolo Paganini told TuttoMercatoWebyesterday that Ligue 1 side, Paris Saint Germain, haven’t lost interest in Lookman despite not landing the player late in the summer transfer window.
“Lookman? I know that PSG’s summer interest has remained intact,” Paganini said. “He is on Paris Saint-Germain’s shopping list, but it remains to be seen if Atalanta can do without someone like Lookman in January.”
Ademola Lookman who is touted to win the CAF Player of the Year Award, has so far scored nine goals in all competition for Atalanta this 2024/2025 season.
He was an unused substitute as Atalanta hammered Swiss side, Young Boys 6-1 in the UEFA Champions League last night.
Olawale Ajimotokan in Abuja
The Nigeria Golf Federation (NGF) has selected five Nigerian professional golfers to pilot the training programme of an online-based golf training programme in the country.
The selected players include; Elisha Markus, Aminu Baba, Musa Ayuba, Sharon Wesley and Daniel Pam.
NGF President, Otunba Olusegun Runsewe, said they would be exposed to international best practice and standards.
He described the online-based golf training programme as the first of its kind that was introduced as a new dimension in golf development.
Runsewe noted that the concept which was once a dream had become a reality, adding he had sponsored two Nigerian professionals for training in Botswana and organised several digital golf training for them at the Golf and Health Signature, Abuja to ensure that Nigerian golf hits the world stage in no distant time.
"This is a dream come true.
Some few years ago, I realised that our golfing here in the country was too local and there was a need to
expose our people.
"That year, I went to the Botswana Embassy and got visas for two Nigerian pros to travel to Botswana for some relevant golf training course. They went, came back, and were very helpful to us.
"Afterwards, I realised that there was still a need to expose our pros more to the game. However, it was a bit difficult due to the high cost of having to bring some pros from abroad or taking our pros out of the country.
"I had to call on the resident pro in Botswana, Kelosiwaag Mpoh, who agreed to come over to the country at a reduced cost. He came and gave about 15 Nigerian pros some exposure on the modern training techniques," he said.
He also noted that he recently discovered that a golfer must not have to go on the course every time to take lessons.
He said he found out that sometimes, one can choose to do it online, especially in this modern world of internet technology and communication, adding that this new found discovery was what birthed the idea behind the training.
"I felt that this innovation should start from Nigeria and as of today,
we have succeeded to bring in one of the biggest production companies to take five of our pros in four strategic basic areas of training in golf, i.e. hitting long drive, bunker shot, chips, and putting.
"We have two pros on long drive training, and one each on bunker shot, chipping and putting.
"Bunker shot training became very necessary because most Nigerian golfers see the bunker as a very difficult part of the game, whereas if one practices it, you will find out that it is as easy as every other shot in the game.
"These five pros will kick start our pilot online training programme on golf. This is the very first time we are going into this, and we are very proud and happy that we are starting from somewhere," Runsewe said.
He said that a lot of people were already very excited about the training and had started asking for the videos, even with the short notice.
He said he was very proud and excited about the new concept, adding that the beauty of the training was its unique similarity with what obtains around the world,
adding that most pros abroad run similar online trainings.
"One basic advantage of this is that when the video goes viral, people can even call a specific pro to take them on specific trainings based on personal terms and agreement.
"So, it's like opening a new window for online lessons and golf development in Nigeria.
"This can also go a long way, in terms of grassroots development of the game as alot of our schools can take advantage of the opportunity by playing these videos to help teach the young ones," he said.
He stressed that the reason why we are not doing well in golf is because we normally start late, adding that it was extremely important to start early because by the time your bones are set, you start struggling with the game.
He said the training would also go a long way in helping some business executives that rarely have time to go to the range to train with their pros.
"With this new innovation, they can take a 30-minute break and go online to watch these training videos and practice while in the office.
Nigerian international, Samuel Chukwueze was in action without a goal last night while Tammy Abraham scored his first Champions League goal for AC Milan. The Italian Serie A side edged past Slovan Bratislava 3-2 to claim a third consecutive victory in the competition.
On the night, four players with Nigerian ancestry but holding passports of other countries were on duty for the Italian Serie A side in Slovakia. They include; Chukwueze (Nigeria), Abraham (England), Noah Okafor (Switzerland) and Fikayo Tomori (England). They all celebrated Milan’s 3-2 away win at Bratislava.
Abraham who played sparingly for the Three Lions before he was snubbed by Garett Southgate, intercepted David Strelec's misplaced backpass. He beat goalkeeper Dominik Takac to give the visitors a two-goal lead with 20 minutes remaining. Christian Pulisic had given the visitors a deserved first-half lead from Abraham's precise pass, but the hosts equalised just three minutes later when Tigran Barseghyan raced clear of the Milan defence and lifted the ball over goalkeeper Mike Maignan.
Paulo Fonseca's team struggled to break down Slovan's resolute defence until midway through the second period, when half-time substitute Rafael Leao collected Youssouf Fofana's through ball and steered a cool finish past Takac. Abraham netted Milan's third just
three minutes later, but Slovan set up a nervy finish when Nino Marcelli sent a magnificent strike into the top corner with two minutes remaining. However, Marko Tolic's late red card for a second bookable offence all but ended the home side's hopes of salvaging a first point of their European campaign. Milan have now beaten Club Brugge, reigning champions Real Madrid and Slovan since beginning the group with defeats against Liverpool and Bayer Leverkusen.
Bratislava 2-3 Milan
Sparta 0-6 Atletico Barcelona 3-0 Brest Leverkusen 5-0 Salzburg
B’Munich 1-0 PSG Inter Milan 1-0 Leipzig Man City 3-3 Feyenoord Sporting 1-5 Arsenal Young Boys 1-6 Atalanta
C’Zvezda v Stuttgart
Sturm Graz v Girona AS Monaco v Benfica
Aston Villa v Juventus
Bologna v Lille
Celtic v Club Brugge
Di’Zagreb v Dortmund Liverpool v Real Madrid PSV Eindhoven v Shakhtar
63rd edition of the annual
Lagos Amateur Open Golf Championship came to a thrilling end at the Golf Section of Ikoyi Club 1938 on Sunday with Hameed Adenekan emerging winner.
To come top in the keenly contested encounter, Adenekan grossed a score of 225 to beat his closest rival, Akeem Lawal by two shots.
Adenekan’s journey to fame started with an opening level par 71, a second day score of 72 and a closing 82 to emerge winner.
The highly elated Adenekan in his victory speech thanked the sponsor FirstBank of Nigeria Limited for the opportunity to showcase his talent, stressing that the victory has now put him in good stead for a shot at his long life dream of being a professional golfer.
“I am very happy. I also want to thank FirstBank for this tournament. This is a tournament every amateur player wants to take part in because its helps our dream of turning professional. For me, the next thing is try and qualify for the
elite professional cadre”, he said. The second placed Lawal’s opened his 54-holes account with an opening 75; 4-over the course par, a second day score 76 and a closing 76, losing by two shots to the winner. Last year’s runners-up Samuel Odey Emmanuel also of Ikoyi Club’s final push for the coveted trophy came to naught with a closing 79, losing to the second placed Akeem Lawal on countback.
In the professional category, Ajayi Tajudeen triumphed over Andrew Oche Odoh after exhilarating threehole playoff. Elated at the turnout of golf aficionados at the weeklong competition, the Managing Director/Chief Executive Officer of FirstBank of Nigeria Limited, Olusegun Alebiosu, pledged FirstBank’s commitment to sponsorship of the tournament, saying, FirstBank won’t relent in its resolves to continue to impact the society through sports.
This year’s Lagos Open coincides with 130th-anniversary of FirstBank.
“Ihavecometorealisethattherearepowersthatyoucandescribeasprincipalitiesthatcontrol Nigeria.So,howdoyouwanttocompetewiththem?Theyhavestolenthecountryblindand aredoingallkindsof dealstomakemoney...Itisnoteasy.Youcan’tcompetewiththem.That iswhytheyinsultNigeriansanyhowbecauseoftheamountofmoneyavailabletotheminraw cash.There’snocountrywherepeoplebuyrawcashlikeNigeria” --FormerPDPPresidential AspirantandOvationMagazinePublisher,DeleMomodu,decriesthemoneypoliticsinNigeria.
Upon the inauguration of the Bola Tinubu administration last year, new SUVs were purchased and distributed to the members of the Federal Executive Council and the National Assembly. Such public officers were never assembled in a public place to receive the vehicles. At about the same time, judges whose cars were replaced after about 10 years were assembled by governors who handed the car keys to them.
The humiliation of judges by the executive was recently taken to an embarrassing level when the Minister of the Federal Capital Territory, Chief Nyesom Wike assembled senior judges to witness the flag off ceremony of 40 housing units to be constructed for judges. The Minister has since announced that he would give 20 houses to Judges of the Federal Capital Territory High Court, 10 to the Judges of the Federal High Court and the remaining 10 to the Justices of the Court of Appeal.
A few colleagues who have forgotten the struggle that culminated in the constitutional recognition of financial autonomy for judges as part of the independence of the judiciary have attempted to justify the distribution of cars and houses to Judges by the executive organ of governments. In fact, those who are not familiar with the current constitutional dispensation have said that the executive should
continue to build houses for Judges since it was done before in a particular state.
With respect, it is pertinent to remind such lawyers that sections 81 (3) and 121 (3) of the Constitution of Nigeria 1999 which granted financial
autonomy to the Federal and State Judiciaries in the country has been confirmed by the Federal High Court and the National Judicial Council in the following cases:
1. Suit No FHC/ABJ/CS/667/13, Judiciary Staff Union of Nigeria v National Judiciary Council & Ors;
2. Suit No. FHC/ABJ/CS/63/2013: Olisa Agbakoba, SAN v National Judicial Council & Anor;
3. Suit No. NAD/56/2013 :Olisa Agbakoba v Attorney-General of Ekiti State & 2 others;
4. Suit No. NICABJ/142/2022: Chief Sebastian Hon v National Assembly & 2 Ors.
Section 81(3) of the Constitution provides that:”(3) Any amount standing to the credit of the judiciary in the Consolidated Revenue Fund of the Federation shall be paid directly to the National Judicial Council for disbursement to the heads of the courts established for the Federation and the State under section 6 of this Constitution.”
Although the federal judiciary is better funded than state judiciary but the question of financial autonomy has not been properly addressed.
But due to the refusal of state governments to allow the judiciary to operate its budgets, former President Muhammadu Buhari issued Executive Order No 10 of 2020. State Governors successfully challenged the validity of the Executive Order as it was struck down by the Supreme Court.
Thereafter, section 121(3) of the Constitution was
amended to the effect that any amount standing to the credit of the House of Assembly in the Consolidated Revenue Fund of the State “shall be paid directly into wethe account of the Assembly”, and that of the Judiciary “shall be paid directly to the heads of the courts.” A new subsection 4 provides that the state accountant-general of a state must pay the judiciary and the house of assembly their due amounts in monthly installments. It is public knowledge that the salaries and allowances of Nigerian Judges were increased a few months ago by an Act of the National Assembly. However, the National Judicial Council and the Nigerian Bar Association should prevail on the National Assembly and the various Houses of Assembly to actualise financial autonomy for judges in the 2025 budgets of the Federal Government and the various state governments in strict compliance with Sections 81(3) and 121(3) of the Constitution of the Federal Republic of Nigeria as amended. In other words, with effect from 2025, the budgets of the judiciary at the federal and state levels should make adequate financial provision to enable the judiciary to build houses and buy cars for judges. This is only way to insulate judges from the overbearing control of the Executives. Therefore, the Nigerian Bar Association should be prepared to challenge any breach of the relevant provisions of the Constitution which have guaranteed financial autonomy for the nation’s judiciary.
AAppointments of ambassadors or high commissioners by the President is a constitutional obligation. There should not be any delay in such appointments.
Section 171 of the Constitution of the Federal Republic of Nigeria states that,
“(1) Power to appoint persons to hold or act in the offices to which this section applies and to remove persons so appointed from any such office shall vest in the President.
(2) The offices to which this section applies are, namely
- (a) Secretary to the Government of the Federation; (b) Head of the Civil Service of the Federation; (c) Ambassador, High Commissioner or other Principal Representative of Nigeria abroad; (d) Permanent Secretary in any Ministry or Head of any Extra-Ministerial Department of the Government of the Federation howsoever designated; and (e) any office on the personal staff of the President.
(3) An appointment to the office of the Head of the Civil Service of the Federation shall not be made except from among Permanent Secretaries or equivalent rank in the civil service of the Federation or of a State. (4) An appointment to the office of Ambassador, High Commissioner or other Principal Representative of Nigeria abroad shall not have effect unless the appointment is confirmed by the Senate.
(5) In exercising his powers of appointment under this section, the President shall have regard to the federal character of Nigeria and the need to promote national unity.
(6) Any appointment made pursuant to paragraphs (a) and (e) of subsection (2) of this section shall be at the pleasure of the President and shall cease when the President ceases to hold office;
Provided that where a person has been appointed from a public service of the Federation or a State, he shall be entitled to return to the public service of the Federation or of the State when the President ceases to hold office.”
The delay in appointing ambassadors mirrors the way this government think of the roles of ambassadors. Ambassadors actively manage and maintain diplomatic relations between the home country and the host. They engage in political and economic negotiations, promote bilateral cooperation and safeguards the home country’s interest in the host country. Additionally, they supervise the functioning of consulates within their jurisdiction. They are not just mere desk officers or protocol officers whose schedule is only to hire uber vehicles for President, their relatives and other top officials. They are an integral part of government.
Ambassadors also engage in delicate negotiations, representing their country’s policies while understanding others’ perspectives. This balancing act is crucial for successful international relations. Their work includes advocating for their home country’s political, economic, and cultural agendas abroad. Ambassadors are the voice of their nation in foreign lands, aiming to foster global partnerships.
How can we be chasing foreign investments when
ambassadors who are to play prominent roles in such negotiations have not been appointed.
If Ministers could be appointed and sworn-in three months after Presidential inauguration, why delay the appointments of ambassadors.
At the 79th General Assembly of the United Nation, Nigeria made a legitimate demand for a permanent seat at the United Nations security council. At the time we made the demand, we had no permanent representative in the United Nations. What a contradiction. We undervalue the position of ambassadors in this country. We starve their embassies of funds and we pay little attention to their needs.
We acknowledged the efforts of Mr. Walter Carrington (24 July 1930-11 August 2020), the American ambassador to Nigeria between 1993-1997 and the role he played in standing for human rights during the General Sani Abacha years. He stood firm by his principles and he was resolute in defending human rights.
In other countries of the world, the ambassadorship is the training ground for leadership.
Otto Von Bismarck, in 1859 was the Prussian ambassador to Russia and later to Paris in 1862 in the court of Napoleon III, he later became Prime Minister. George H. W. Bush (12 June 1924-30 November, 2018) was the 41st President of the United States of America. He was equally the 10th United States American ambassador to the United Nations from (1March 1971-18 January 1973).
Mr. Benjamin William Mkapa (12 November, 1938- 24 July 2020) was Tanzania ambassador to Nigeria in 1976.
He was Tanzania Minister for Foreign Affairs from 1977 to 1980. In 1982, he served as High Commissioner to Canada and between 1983 and 1984 as Ambassador to the United States of America.
He returned home in 1984 where he was again appointed Member of Parliament and Minister for Foreign Affairs. In 1992, he served as Minister for Science, Technology and Higher Education, prior to being elected President in 1995, and Chairman of his Party, Chama Cha Mapinduzi, (1996-2006). He was re-elected President in 2000 for another 5-year term. There was Thabo Mvuyelwa Mbeki (82). He was the second post-apartheid South African President. He was the African National Congress(ANC) envoy in Nigeria between 1976 and 1978. He established the ANC presence that eclipsed that of its rival Pan Africanist Congress (PAC). While in Lagos, he formed strong friendship with the then head of state, General Olusegun Obasanjo GCFR and top civil servants, including Yahaya Abubakar, Permanent Secretary, CABINET OFFICE, Mr. Bisi Ogunniyi and others. Likewise, there are examples of those who have served in leadership positions yet end up to become ambassadors. Mr. Walter Frederick “Fritz” Mondale (5 January 1928-19 April 2021) was the 42nd Vice President of the United States of America, and served from 1977 to 1981 under President Jimmy Carter. He became United States of American ambassador to Japan between 1993 to 1996.
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