In keeping with our tradition, your favourite newspaper of record will be off the streets tomorrow. It will however return to newsstand on Friday. Merry Xmas to all our esteemed readers
Seeks prayer for brave troops, insists nation on path of progress towards bright future Offers sympathies to families affected by floods, fire accidents, other disasters in 2024 Atiku, Akpabio, Abdulrazaq, Sanwo-Olu, Mbah, Abiodun, Bago, Wike, Obaseki, Remi Tinubu, church leaders, others celebrate with Christians on birth of Christ
Culture, Mrs. Toke Benson-Awoyinka; MD/ CEO, Chain Reactions Africa Ltd and organisers of the Festival, Mr.Israel Jaiye Opayemi; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Special Adviser to the Governor on Tourism, Arts and Culture, Mr. Idris Aregbe, Secretary to the State Government, Mrs. Abimbola Salu-Hundeyin; and Lagos State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, at the opening of the Lagos Shopping Festival 2024 at
James Sowole in Abeokuta
The Minister of State for Health and Social Welfare, Dr. Iziaq Kunle Salako, has assured Nigerians that the various reforms of President Bola Ahmed Tinubu, will bring succour to Nigerians in no distant future. He, therefore, enjoined them to exercise patience with the administration in addressing challenges confronting the nation.
He gave the assurance during the distribution of subsidy removal palliatives and free medical services, held in Yewa North Local Government Area of Ogun State.
Salako, explained that the rice and fertilizers distribution were steps taken to address food crisis by the Tinubu's government, assuring that the time of economic hardship in the country would soon come to pass.
He added that the medical outreach was his own way to
provide basic check ups and drugs for his people back home.
The minister explained that the 1,300 bags of rice were distributed to the five local government areas in Ogun West Senatorial District to party members and leaders, market women, religious organidations, traditional rulers, community leaders and farmers in the areas.
He said, "On the ground, we have 1,300 bags of rice and 600 bags of fertilizer. Our party members are benefiting 30 percent of the palliatives, then the market women, whose coordinator is the Iyaloja will also benefit. The Christians Association of Nigeria (CAN) and the Muslim Communities will not be left out.
"We will also reach out to individual leaders in the five LGs.
Our Baales and traditional rulers are also beneficiaries. Basically, what we have done is to at least ensure that representatives of the
identified groups are on ground to receive on behalf of their members. We have adopted this method to avoid stampedes which have greeted similar distributions of food and other items in some locations in the country.
“We have arranged it in a manner that items going to
each section have been loaded into different vehicles and labeled accordingly, and the persons who will receive the items have been introduced to the drivers of those vehicles. All these are to ensure orderliness."
On the yuletide message of President Tinubu, Salako said:
"Basically, the message of Mr President is for everyone to have Merry Christmas and Happy New Year in advance.
"Mr President also wants everyone to be joyous and to be careful to take caution in everything we do by not compromising security. He also wants us to be praying
for Nigeria.
"Mr President said he is beating his chest to all Nigerians that things are getting better and things will get far better than the current situation. He is confident that all the reforms he has done, things will get better and Nigerians will begin to live a better life soon."
Sunday Aborisade in Abuja
Some Niger Delta indigene have urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to reverse the 2024
licencing and 2022/23 Mini Bid Round for oil blocs in the oil’ rich region.
They alleged that the process adopted in the exercise held recently was discriminatory and
President Bola Tinubu has extended warm felicitations to a titan of Nigeria's advertising industry, Dr Biodun Shobanjo on his 80th birthday.
The President, in a statement issued yesterday by his Adviser on Information and Strategy, Bayo Onanuga, joined the Shobanjo family, friends, and well-wishers in honouring “a highly esteemed marketing communications expert and multiple award-winning advertising guru.”
Shobanjo started his stellar career at the Nigerian Broadcasting Corporation and joined Grant Advertising in 1971.
He became deputy managing director in 1976 and left four years later to found Insight Communications, an instant game changer in Nigeria's advertising industry.
He and his team notably transformed Insight into a colossal marketing company, adding Quadrant, Nigeria's first PR Consultancy,
and All Seasons Mediacom, Nigeria's first Media Independent. Over time, he consolidated all the companies under the umbrella of the Troyka Organisation, including Halogen Security, which he founded in 1992.
Tinubu acknowledged Shobanjo's significant contributions to advancing the marketing communications industry—a sector pivotal for fostering economic growth, social development, and infrastructural progress in Nigeria. He commended Shobanjo's illustrious career journey and highlighted his achievements as a broadcaster, entrepreneur, and advertising professional.
The President noted that these accomplishments exemplified the virtues of discipline, integrity, and dedication, which inspire young professionals.
Tinubu expressed confidence that Shobanjo would continue to impart his vast experience and insights to practitioners who aspire to uphold
best practices based on truth, local content promotion, and transparency, which align with Nigeria's national development goals.
He wished Shobanjo many more years of good health and continued success.
Also yesterday, Tinubu congratulated Hon. James Abiodun Faleke, who marks his 65th birthday today.
Faleke has been the representative for the Ikeja Federal Constituency in the House of Representatives since 2011.
Tinubu, in another statement issued by Onanuga, acknowledged Faleke's invaluable contributions and unwavering loyalty over the past two decades, emphasising his steadfast support during pivotal moments.
Reflecting on Faleke's exemplary service as the chairman of the Ojodu Local Council Development Area (LCDA) from 2003 to 2011, the President further commended his pivotal leadership in orchestrating the successful 2022- 2023 presidential
campaign, which paved the way for the Renewed Hope administration.
President Tinubu praised Faleke for his instrumental role as the campaign's lead strategist and for tirelessly working to ensure his and his party's triumph.
The President lauded Faleke, a ranking Federal House of Representatives member, for his incisive contributions to the national discourse. He particularly appreciated his strong advocacy for true federalism, prudent financial management, anti-corruption measures, transparency in public procurement, and youth empowerment.
According to President Tinubu, Hon. Faleke's extensive experience in the National Assembly and various leadership roles continue to benefit the people of Lagos and Nigeria as a whole.
He, therefore, prayed that God Almighty grants Hon. Faleke good health and gives him more opportunities to serve the nation diligently.
unlawful.
They also claimed that the process was in clear violation of the Petroleum Industry Act, which is the Commission's own operational guideline.
Counsel to the aggrieved Niger Deltans, Blessing Agbomhere, made the allegations in a letter addressed to the Chief Executive Officer of the NUPRC, Engr. Gbenga Komolafe.
The aggrieved persons, according to the letter, vowed to engage in a legal battle with the agency if the process was not reversed within seven days.
The law firm in the letter said it's clients would begin legal proceedings against the NUPRC if at the end of the seven days notice the commission fails to carry out a fresh bidding process for the oil blocs in conformity with the fundamental principles of fairness, equity, and inclusivity.
The legal firm listed its clients to include: Undiandeye Akonfe, James Okeati, Chief Victor Akposeseye Okiri, Fortune Nakoro, Arc. Kenneth Anyanwu, Okwara Idika, Akpan Edem, Otetubi Tolulope and Olali Solomon.
The firm claimed that its clients are critical and patriotic stakeholders who believe in the peace and prosperity of the Niger Delta region.
Part of the letter read, "You will also recall that, Niger Delta stakeholders are key contributors to Nigeria's oil and gas sector.
“They have been unjustly excluded from the licensing process despite their substantial investments, environmental sacrifices
and statutory rights under the Petroleum Industry Act.
“Additionally, the two year delay in the licensing round has raised significant concerns about transparency, regulatory compliance, and the economic viability of the process.
"Excluding the Niger Delta Companies from benefiting from the resources in their region could lead to renewed agitation and conflict in the region.”
It added: “A licencing process that excludes critical stakeholders from resource governance undermines the peace building efforts achieved through years of negotiation with Host communities.”
The stakeholders, through the firm, further claimed that the oil blocs were allocated to companies whose majority shareholders are all from outside the Niger Delta region.
They added that the head offices of the beneficiary firms are not located within the region as against the expression of interest by persons who hail from the Niger Delta region.
They insisted that such action was a violation of sections 15(1), 42(1), and 318(1) of the 1999 constitution (as amended), the Petroleum Industry Act and the Nigerian Content Development Act.
They, therefore demanded an order of the Court directing the Minister of Petroleum Resources to withhold his consent to the allocation until another round of bidding wa conducted.
L-R: Attorney-General and Commissioner for Justice, Enugu State, Dr. Kingsley Udeh; Clerk to the Enugu State House Assembly, Dr. Emma Udaya; Governor of
of the House of Assembly, Hon. Uchenna Ugwu and the Deputy Speaker, Hon. Ezenta Ezeani, during the
Okonji
Ozi, a community-driven delivery app, has launched its global services from Nigeria, offering users a new way to send packages from Nigeria to different countries of the world.
The app is expected to help
travelers willing to carry additional luggage, to earn extra cash. By connecting people traveling with those that have package to deliver, Ozi turns every trip into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier,
Express, and Parcel (CEP) market, currently valued at around $460 billion.
Speaking at the launch, which held in Lagos, co-founder and CEO of Ozi, , Mr. Ikenna Ani, said: “With Ozi, travelers heading to different destinations of the world, can be
connected to people who have packages to deliver to their loved ones or business partners in those destinations of the world, while the traveler gets extra cash for accepting to add additional package to his or her luggage.”
According to Ani, with Ozi,
Governor of Enugu State, Dr. Peter Mbah, has signed the N971bn Enugu State 2025 Appropriation Bill into law, vowing his administration would diligently implement the budget to achieve the target of exponential economic growth and inclusive prosperity for the state.
The budget comprises N837.9bn Capital Expenditure, representing 86 per cent of the budget, and a Recurrent Expenditure component of N133.1bn, representing only 14 per cent of the budget, with education getting N320.6bn, representing over 33 per cent and largest share of the total budget for the second consecutive year.
Appending his signature to the document in a brief ceremony witnessed by members of the Enugu State House of Assembly, led by the Speaker, Hon. Uchenna Ugwu; Deputy Speaker, Hon. Ezenta Ezeani, and members of the House, on Tuesday, Mbah thanked the lawmakers for the speedy passage of the budget, describing it as a massive Christmas gift to the people of the state. His words: “What we are witness-
ing here today is democracy in action. We christened our budget, ‘Budget of Exponential Growth and Inclusive Prosperity’, because it is at the heart of everything we do in the state.
“If you look at the development model adopted, it is one that takes into account the development challenges we have across our state because as I have always said, we are only as good as our weakest link. So, we have responsibility to make sure that nobody and no section of the state is left out.
“Again, in terms of growth, we recognised very early in the day that marginal growth or incremental growth model will not cut it for us. The rest of the world will not wait for us and development is not something that you wish into existence. You must be very intentional about it. So, our growth strategy is the one that adopts an exponential growth model.
“What we proposed in the budget that you graciously passed and we signed into law is going to boost our efforts and that march to our desired destination, which is that no person or child of this state will
go to bed hungry.
“This is a huge Christmas gift from the legislature to the people of Enugu State because they can all go home knowing that by first 1st of January, we are going to continue on our march towards Enugu's greatness and development of Enugu State; and nothing will stop us.”
In his remark and subsequent interaction with Government House correspondents, the Speaker attributed the sustenance and early passage of the budget figures proposed by the governor to the involvement of the parliament in the budget preparation.
“We were part of the process that produced those figures in the first place. Because we were carried along, we did not have to change anything because behind closed-doors, we had done the job already before the budget was presented. So, there is no point changing anything. The assurance to Ndi Enugu is that we shall continue to have it good," he stated.
He commended Governor Mbah for the high performance of the 2024 budget, assuring that the House would effectively exercise its oversight
Aleke in Abuja
The Police Service Commission (PSC), yesterday deployed six commissioners of police to states.
A statement by Head, Press and Public Relations, Ikechukwu Ani, said the commission approved the appointment and posting of six new Commissioners of Police.
The appointments and postings, Ani said, were sequel to the recent promotions in the Nigeria Police Force released by the Commission last week.
He said that in the new appointments, CP Shettima Jauro Mohammed was posted to Nasarawa State Command; Rabin Mohamned, now CP,
Kaduna State Command and Adepoju Olugbenga Adewale posted to Rivers State Command.
"Others are; Mohammed Baba Azare, now CP, Akwa Ibom State Command, Wilfred Olatokunbo Afolabi new CP Ondo State Command and Joseph Eribo, former CP, Akwa Ibom State now moved to Ekiti State as the new CP Ekiti State Command," he informed.
Chairman of the Commission, DIG Hashimu Argungu, rtd, said the new appointees should see their appointments as call to national service.
He implored them to be committed to Government's drive to Stablize the nation and effectively ensure that their
states are free of crime and criminality.
Argungu said the Commission will continue to monitor their progress report and will encourage them to succeed in their new endeavours.
He charged them to reciprocate Government's gesture by rededicating themselves to the service of their fatherland.
Also, the Commission called on Nigerians to renew their faith in the country, insisting that Nigeria must be great again.
In his Christmas message to Christian faithful, Argungu noted that Nigeria is blessed with enormous material and human resources which the present Administration is currently harnessing for optimal functionality.
powers in the implementation of the budget and also provide support to the administration where necessary.
His words: “Now, if you look around Enugu, you can see the development that is happening everywhere in all sectors, including the education sector, health sector, the tourism sector, the road infrastructure, and indeed everything.
“It means that the governor’s promise to reduce poverty headcount to zero in Enugu State is realistic and if you look at the budget, you can see that the information in the budget is akin to achieving that.
“As for the differentials in terms of the different sectors, one-third of the budget is in education. If you have any intention to eradicate poverty, you have to make sure that the mind is educated.
“So, education is key and has taken a large chunk of the budget that has been signed into law today.
“So, it means that he is very prepared to walk the talk because without education you are going nowhere as a nation.”
someone can find a verified traveler heading in the right direction to handle your delivery.
“Why travel empty when you can earn. Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease. This simple yet a powerful idea that leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits,” Ani said.
He further explained that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch Ozi in another country outside Nigeria but for our thrust in the Nigerian dream and its potentials made us choose the country as the first to witness Ozi’s innovation”, Ani said, adding that travelers can now monetise their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips outside of then country, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone, Ani said.
The co-founder and Chief Technology Officer (CTO) at Ozi, Christian Chime, said: “Ozi’s
mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process. By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created.”
Speaking about the security features of the platform, Chime said: “Ozi prioritises safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable.”
To enhance security further, Chime said Ozi would offer realtime tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability, Chime further said.
Co-founder and Chief Operating Officer (COO) at Ozi, Azubike Augustine, said: “At Ozi, we understand that trust is critical in logistics. That is why we’ve built a platform where every step is designed to safeguard both the traveler and the sender. Ozi is more than an app; it’s a community where everyone wins.”
“From today, travelers across the globe can sign up and start making every trip count. We have put measures in place to ensure only genuine and verified travelers or senders use the platform, because security is primary for us,” the COO said, adding that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025.
the corporate headquarters of the Authority in Abuja on Tuesday.
The Nigeria Civil Aviation Authority (NCAA) has initiated enforcement actions against five airlines (two international and three domestic operators) for various violations of Part 19 of the NCAA regulations including nonpayment of refunds within the stipulated time frame.
The sanctions also include nonresponsiveness to the NCAA's directives, missing luggage, manhandled luggage, short-landed baggage, delayed and canceled flights, amongst others.
The Director of Public Affairs and Consumer Protection (NCAA), Mr. Michael Achimugu disclosed this whilst speaking to journalists at
He said that although airlines are not always responsible for flight disruptions, NCAA regulations stipulate actions that airlines must take during disruptions. Failure to comply attracts various levels of sanctions.
Recall that the Authority recently warned that it will initiate sanctions if airlines fail to pay refunds within the stipulated time frame of fourteen days for online ticket purchases and immediate cash refunds for tickets purchased by cash.
According to him, the incessant disruptions this yuletide has caused a surge in passengers’ complaints about delays and cancellations.
Mr. Achimugu defended the airlines for most of the cancellations,
adding, “We all know that this is harmattan season, so there is poor visibility. Flights must get cancelled. This is force majeure, and the airlines do not owe passengers anything in those instances.
"The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he explained.
The director also assured that the Authority will be summoning the CEOs of all airlines this week to a meeting over flight disruptions and regulatory breaches.
While Achimugu did not disclose the airlines whose sanctions he signed today, sources close to the Authority disclosed that they are Ethiopian Airways, Royal Maroc Airways, Arik Air, Aero Contractors, and Air Peace.
L-R: Chairman TrustBanc Holdings,Idris Saidu; Group Head/GM BUA Group, Tajudeen Ahmed; Chairman Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Tokunbo Abiru; GMD/CEO TrustBanc Financial Group, Abubakar Jimoh; Managing Partner Kreston Pedabo, Ajibade Fashina, and President The Bridge Club (TBC), Abdulhakeem U. Mustapha SAN, at TBC's evening with the British High Commissioner held in Lagos..recently.
LPDC says it can't debar embattled lawyer over alleged defamation against Afe Babalola
Chuks Okocha and Alex Enumah in Abuja
Embattled lawyer and activist, Mr. Dele Farotimi, who has been in detention for several weeks following allegation of defamation against a Senior Advocate of Nigeria, Chief Afe Babalola, was yesterday released from prison in Ekiti State.
This development has however elicited jubilation from many quarters, including the presidential candidate of the Labour Party in the last general election, Peter Obi, who expressed
happiness at the development.
Also, the Legal Practitioners Disciplinary Committee (LPDC), has explained that the reason Farotimi could not be delisted from the record of legal practitioners in the country, because the allegations against him bordered on acts of an author and not a legal practitioner.
A few days ago, a Chief Magistrate Court in Ado Ekiti, had granted Farotimi, who was being tried for alleged defamation, a N30 million bail.
This also included two sureties, one of whom must be a property owner,
a submission of Farotimi’s passport and a prohibition of Farotimi granting media interviews once released.
An X post by politician and activist, Omoyele Sowore, disclosed that Farotimi had met his bail conditions and was on his way to Lagos.
He was arrested earlier in the month for allegedly defaming Babalola.
Farotimi, who was remanded in a correctional centre in Ado Ekiti, the Ekiti State capital, arrived at the Magistrate Court premises around 9:45 am on Friday amid heavy security presence.
Posting on X, Sowore said, “I am pleased to report that Dele Farotimi is no longer being held at the prison yards in Ekiti state and is now returning home to Lagos. The struggle continues,” he wrote.
end. This is an #AttritionMarathon.”
Addressing his supporters after his release, Farotimi restated his commitment to truth in his fight for justice.
His loyalists and supporters had been protesting since his arrest and prosecution, insisting that it was an act of illegality and injustice.
“In my public advocacy, I have never lied against anyone. If I don’t know something, I will simply say I don’t know,” he said.
that defines our movement.
''We extend our heartfelt gratitude to everyone who played a critical role in securing his release. To the legal team, supporters, and advocates who stood firm and refused to let injustice prevail, we are immensely grateful.
A lawyer in the Emmanuel Chambers, Mr Ola Faro, had dragged the activist before the LPDC, accusing him of criminal defamation and professional misconduct.
Olusegun Samuel in Yenagoa
The Izon Cultural Heritage Centre (ICHC), a cultural centre inspired by the Chairman of Tantita Security Services Limited, Chief Government Ekpemupolo, alias Tompolo, has launched the Izon Community Service Volunteers (ICSV) to promote peace, wellbeing and development in the Ijaw nation.
During a one-day youth orientation seminar tagged: 'Channeling Youths Energy for a Productive Bayelsa', held in Yenagoa, the founder and Chairman of ICHC, Bodmas Kemepadei, said the scheme was designed to harness the spirit of service and a clear representation of Ijaw socio-cultural and belief system.
He said the launch of ICSV marked not just the beginning of a new initiative but a call to action for all Ijaw sons and daughters to come together to make a difference in various communities and the Ijaw nation at large.
Kemepadei said: "Volunteering is more than just giving our time; it is about creating connections, building relationships and fostering a sense of
A pro-Lagos advocacy group, Eko United, has condemned the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, for his alleged unceasing disrespect to Governor Babajide Sanwo-Olu and the office of the governor of Lagos State. Leader of the group, Bolakale Akano, said last night, that they also suspected that a camp loyal Obasa, might have leaked details of the Friday meeting between President Bola Tinubu and select members of the Governors’ Advisory Council (GAC) in Lagos, to secure sympathy of the president.
The group though blamed leaders of the APC and its affiliate organs
belonging in a world that often feels disconnected.
“Our volunteer service scheme aims to bridge gaps, support those in need and cultivate the tree Ijaw culture of compassion and solidarity in line with Woyin's philosophy.
"This initiative is rooted in the belief that every person has something valuable to contribute whether it is your time, skills or simply your kindness. Through this scheme, we will provide opportunities for individuals to engage in meaningful projects that align with their passion and talents, making a lasting impact on the lives of people and society.”
He said that as Ijaw people embark on the journey, they were encouraged to consider how they can get involved in the various areas of volunteerism.
"The strength of the scheme lies in our collective efforts and together, we can achieve remarkable things. Let us remember that volunteering is not just an act of service; it is an act of worship to the Divine who continues to keep us alive even in our errors. It is also a celebration of our shared humanity as Ijaw people," he added.
Also, confirming his release, another lawyer and activist, Chii Odinakalu, wrote on X, too, that, “In Ekiti, @ DeleFarotimi has perfected bail & regained his freedom. He’ll be on his way back to Lagos.
“To all the friends of Justice who have been vigilant through this, we say please remain vigilant. It is not the end nor the beginning of the
National coordinator of the Obidient movement, Dr. Tanko Yunusa, confirmed that Obi offered to stand bail for the embattled activist. This came after Obi, last week, promised to help meet Farotimi’s bail conditions. Yunusa, however, said in a statement that they were happy over the release who was released from Ado Ekiti prison after meeting the bail bond.
''Today, we rejoice as our brother, Dele Farotimi, has finally reunited with his family in Lagos after meeting the bail conditions that have kept him away from his loved ones. His return home is a testament to the unyielding spirit of truth and resilience
''A special appreciation goes to our father and leader, Mr. Peter Obi, whose commitment to justice and the rule of law continues to inspire the Obidient Movement and a new Nigeria. His steadfast support and leadership remind us all why we stand firm in our pursuit of a better and fairer Nigeria.
''Together, we will continue to uphold the values that define us, ensuring that no voice is silenced,'' he stated.
LPDC: Why We Can't Debar Farotimi over Alleged Defamation against Afe Babalola
Meanwhile, the Legal Practitioners Disciplinary Committee (LPDC) has said the reason it could not debar Farotimi was because the allegations against him was as an author and not a lawyer.
The petitioner claimed that the book was widely read and distributed physically and on-line, and that the respondent was making commercial gains from its sale. He tendered excepts from the book for emphasis to conclude that the book “will likely set the legal profession and society ablaze and discredit the entire Nigeria Judiciary, ridicule them within the legal profession and injure their hard earned reputation’ and financial credit.”
Faro, therefore, urged the LPDC to "strike out the name of Farotimi from the Roll of Legal Practitioners in Nigeria for violating Rules 1, 15(1) (2B) (3A) (3C (3J), 2b(1) 27(1) 30, 31(1) (2) and (4) of the Rules Professional Conduct for Legal Practitioners 2023". But the LPDC, in its report (B8B/ LPDC/1571/2024),THISDAY gathered, declined to debar Farotimi on the grounds that allegations against him bordered on acts of an author and not a legal practitioner.
Kwara State branch of the Nigeria Labour Congress (NLC) yesterday lauded the state governor, Alhaji AbdulRahman AbdulRazaq’s administration for prioritising the welfare of workers and pensioners with prompt and regular payment of salaries and allowances.
The labour union however appealed to the governor to direct a 50 per cent downward review of the new tax policy of the state government
on workers in the state.
A statement issued in Ilorin by the Labour Union which was signed personally by its state chairman, Comrade Muritala Saheed Olayinka, said that, "Your workers’ welfare has not gone unnoticed. From the prompt payment of salaries and pensions to the execution of critical infrastructural projects that enhance the quality of life for all Kwarans".
The statement said these giant strides are clear departure from the past by the present administration
in the state.
The statement noted that the governor has brought his leadership quality to bear with the execution of critical infrastructural projects that enhance standard of living of the citizenry
While praying for good health and wisdom for AbdulRazaq to succeed in office, the NLC chairman reaffirmed the resolve of the organized labour to work with the present administration to achieve more milestones.
His words: "On behalf of the entire
membership of the Nigeria Labour Congress (NLC), Kwara State Chapter, I extend our profound gratitude for your exceptional leadership and unwavering commitment to the development of Kwara State and its people.
"Your Excellency’s dedication to workers’ welfare has not gone unnoticed. From the prompt payment of salaries and pensions to the execution of critical infrastructural projects that enhance the quality of life for all Kwarans, your administration has demonstrated an exemplary understanding of the challenges faced by the workforce and the general populace.
for allowing such a situation tarry for so long without reining in the speaker, he added that they all must share in the blame of what has been going on in the state.
“It would be the first time that a thing of this nature is happening in the state and we believe the decent nature of the governor prompted Mr. Obasa to outstep his bounds.
“Would he have tried that with any of the former governors? He would not even moot the idea. But because of the governor’s nice and kind nature, he thinks he can ride roughshod over him? Impossible!” he said.
The group, however, maintained
that the details of the Friday meeting with Tinubu, which many sources had claimed were correct, could not have been divulged by other senior and mature members of the ruling class in the state except by the camp on the receiving end.
Akano said it was unfortunate that details of a meeting at that level would be leaked just because of “a man’s desperation to unpack the pieces of the mess he consciously created,” adding that the strategy had failed from inception.
THISDAY had exclusively reported yesterday that Tinubu and the leadership of GAC, weekend, warned Obasa, against disrespecting
Sanwo-Olu, and the office of the governor under whatever guise.
This development, THISDAY gathered, played up after members of the GAC visited the president in Lagos, on Friday, upon his return to the state for the end of the year break.
Chairman of GAC, Alhaji Tajudeen Olusi, THISDAY was told, opened the floor for the discussion, when he told the president he wanted to give him a situation report on the state of play in the state.
The old man, who reminded the president of how highly the governor's office was held in the state, when he was governor between
1999 and 2007, allegedly told the president that the disrespect that Governor Sanwo-Olu hadsuffered in the hands of the speaker was no longer acceptable. Irked by the report, Tinubu was said to have openly lashedhim for not just disrespecting the governor and his office, but also for poorly managing the politics of the state and causing division.
It was against this backdrop that the group concluded that persons loyal to the speaker must have leaked the details of the meeting with a view to securing the sympathy of the president, whom he knew was already angry.
"We especially commend your continued efforts in improving healthcare, education, and social amenities, which are vital to ensuring the well-being and productivity of the people. Your inclusive governance and accessibility as a leader have set a standard worth emulating.
"As partners in progress, we reaffirm our support and cooperation in working with your administration to achieve more milestones for our beloved state.
"Once again, we appreciate Your Excellency’s tireless efforts and pray for your continued wisdom, good health, and success as you steer Kwara State towards greater heights."
The labour leader however begged the Governor to extend tax holiday for employees in the state public service for another three months as done almost three months ago in view of the current hardship citizens are grappling with.
Acting Group Politics Editor DEJI ELUMOYE
Email: deji.elumoye@thisdaylive.com
08033025611 sms only
Respite came the way of former Kogi State Governor, Mr Yahaya Bello, last week following his release on bail by a Federal High Court sitting in abuja, writes Alex Enumah
After spending about 24 days in the custody of both the Economic and Financial Crimes Commission (EFCC) and the Correctional Service Center in Kuje, former governor of Kogi State, Mr Yahaya Bello, regained freedom last week to now prepare for his trial on alleged corruption, money laundering, breach of trust, among other charges filed against him by the anti-graft agency.
The EFCC is specifically accusing the former governor who is the 1st defendant among three others of diverting funds belonging to Kogi State during his tenure as governor, between 2015 and 2023.
Both at the Federal High Court in Abuja and the High Court of the Federal Capital Territory (FCT) where he was arraigned, Bello pleaded not guilty to all the charges preferred against him and was admitted to bail in the sum of N500 million by each of the two courts.
The import of the bail demonstrates the position of the law that a defendant is “presumed innocent untill proven others”. Bail, although is usually at the discretion of the court, is however granted when there is some measure of assurance that the defendant would not escape from trial and would also not be a threat to witnesses that may be called to give evidence against him or even tamper with evidence.
Besides, bail is also granted to enable the defendant prepare adequately for his trial as he or she is not in custody where access to his lawyer or his own witnesses are curtailed or deprived.
Before any application for bail is granted, the prosecution has a right to oppose and if it produced very strong evidence as to why a defendant should not be released, the defendant is then remanded throughout the duration of the trial.
However, in the instant case, despite filing its counter affidavit to the former governor’s bail application in the two courts, the anti-graft agency showed understanding with the legal team of the defendants to enable a smooth and accelerated trial by not insisting the former governor remains in custody pending the conclusion of trial. Like the lead counsel to the Commission, Mr Kemi Pinheiro, SAN, said and demonstrated, the “EFCC is a Prosecutor and not a Persecutor”. Recall that it took about seven months for this trial to commence, due to litigations against his arraignment, which ran all the way from the high court to the Supreme Court. In one instant, the EFCC had threatened to use maximum force, including that of the military to invade wherever it believed the former governor was and bring him to face trial. However, this was not the case and despite the heat and tension the matter had generated, heaven did not fall, neither was there any fire and brimstone during the arraignment of the former governor.
Peaceful resolution of the stalemate first came on November 26, 2024 when Bello turned himself in to the Commission, which had for several months sought for his arrest and prosecution of his management of Kogi State’s funds as governor.
Upon his surrendering at the headquarters of the anti-graft agency in Jabi, Abuja, Bello was taken into custody and then brought before Justice Maryanne Anenih of the High Court of the FCT. Recall that, the judge had earlier issued a public summons against the 1st defendant over a charge filed against him. Upon arraignment, he pleaded not guilty to the 16-count charge read against him and the two other defendants.
His lawyer, Chief Joseph Daudu, SAN, subsequently moved his bail application, which was objected to by the prosecution. While the judge then adjourned her ruling in the bail application to December 10, she ordered that the former governor continue to be in the custody of the EFCC. With this order, the prosecution then took him before Justice Emeka Nwite of the Federal High Court, where a 19-count criminal charge bordering on money laundering, fraud and misappropriation of funds to the tune of N80.2 billion was first filed against him as far back as April, 2024.
He was said to have committed the alleged offences when he was governor of Kogi State between 2015 and 2023.
The judge had earlier adjourned to January, 2025 to rule whether to try the 1st defendant in absentia as was requested by the counsel to the prosecution.
At the resume trial on December 13, 2024, Pinheiro had informed the court of the prosecution’s intention to withdraw an earlier application for abridgment of the earlier date fixed for arraignment, on grounds that the application had been overtaken by events (the availability of the 1st defendant in court). Responding, Bello’s lawyer said he was not opposed to the application, following which the judge granted the request.
After the defendant had taken his plea, Daudu made clarifications on the reasons he had not been in court during the previous hearings. “I would like to place on record that for any impression that might have been created that the defendant did not wish to appear before your lordship, coincidentally, the ruling on my lord’s sitting this morning dealt with the issue of jurisdiction.
“What the defendant did was to ask his counsel to challenge the jurisdiction of the court, which got to the Court of Appeal and the Supreme Court.
“So it was not a wishful disrespect but he was only trying to defend himself. So we all hold your lordship in high esteem. If that impression must have been, he should not have presented himself for arraignment. That episode is gone and things are clearer now,” Daudu stated.
While moving an application for bail, he assured that the former governor would always be present in court for the trial.
“I am saying this with the highest sense of responsibility that the defendant, a two-term governor of
Kogi State, who travelled only two times out of his eight years in service, will always be present in court at all times.
“There should be no apprehension that he will jump bail. So we urge your lordship to grant us very reasonable conditions of bail such that he will be able to bear,” the senior lawyer said.
He also informed the court of an understanding between counsel not to stress the court over the issue of bail.
Responding, Pinheiro confirmed that “we have been engaging in series of discussion to ease the burden on your lordship in compliance with Rule 26 of Rules of Professional Ethics.
“I also note that your lordship had delivered not less than five rulings in this matter and it is our aim to ease the work. We are prosecutors not persecutors and EFCC is a professional commission, a prosecutorial and not persecutorial commission,” he said.
“We accept the assurances of the very eminent SAN that the defendant will make himself available subject to your lordship’s discretionary terms that may be imposed.
“By so doing, we will ease the burden on the court. Therefore, we will not be opposing the eminent SAN’s submission”, he added.
Pinheiro said although they had filed a counter-affidavit, they would not oppose the bail, going by the assurances of the learned SAN.
Delivering ruling in the bail application
Justice Nwite held that he was minded to grant the bail even though it was at his discretion, due to the good behaviour of Bello’s lawyer, Chief Joseph Daudu, SAN and the show of understanding from prosecution lawyer, Mr Kemi Pinheiro, SAN.
“I have listened to the submissions of both counsels. It is not in dispute that both counsels have filed applications in respect of this.
Following the perfection of the two bails, the former governor was on Friday, December 20, 2024 released from custody of the Correctional s ervice Center. Also, in the absence of a fresh charge filed against him by the EFCC, it can adequately be said that there is no threat of his re-arrest and as such he can begin adequate preparations for his proper trial.
“Based on the account exhibited by learned counsel for the defendant, which was exhibited and supported by prosecution counsel, I am minded to change my earlier stand on this matter”, the court held.
The court accordingly admitted the defendant to bail in the sum of N500 million with two sureties in like sum, who must own landed properties in Abuja, and also swore to an affidavit of means. According to Justice Nwite, the said property’s documents must be verified by the registrar of the court. The two sureties alongside with Bello shall deposit a recent passport photographs to the court, while Bello in addition is to deposit his international passport with the court.
Justice Nwite who ordered that the defendant be remanded in the Kuje Correctional Center in Abuja, however held that the former governor should be released upon perfection of the bail conditions.
At the FCT High Court, although Justice Anenih in her ruling on December 10, 2024 declined to admit the 1st defendant to bail on the grounds that the application was premature, because it was filed before arraignment, the judge in her ruling on December 19, 2024 also admitted the former governor to bail in the sum of N500 million with three sureties in like sum, upon a fresh application.
When the matter was called for hearing, Daudu, informed the court that the defence counsel had filed a further affidavit in response to the counter affidavit filed and served by the prosecution counsels. He, however, applied to withdraw the further affidavit, saying, “We do not want to make the matter contentious.”
Since the counsel to the prosecution, Olukayode Enitan, SAN, raised no objections the court therefore, granted the application for withdrawal, striking out the further affidavit.
Speaking further, Bello’s lawyer drew the court’s attention to an understanding reached by parties towards the speedy trial of the matter. He therefore urged the court to release his client on bail to enable him prepare adequately for the trial.
The senior lawyer, however, prayed the court to kindly review the bail conditions for the 1st, 2nd, and 3rd defendants. According to Daudu, the court should broaden the scope of properties to be used as bail sureties to include locations across the FCT, rather than limiting the location solely to Maitama.
Responding, Enitan said, “I confirm the evidence given by the distinguished member of the bar that is leading the Defence, J.B. Daudu, SAN, that he has been in conversation with the leader of the prosecuting team.
“As with the legal tradition that we should cooperate with members of the bar when it does not affect the course of justice, we have decided not to make this contentious, bearing in mind that no matter how industrious the defence counsel might be in pushing forward the application for bail and no matter how vociferous the prosecution counsel can argue against the bail application, your lordship is bound by your discretion to grant or not to grant the application. We are therefore leaving this to your lordship’s discretion.”
Justice Anenih, while delivering ruling acknowledged that the offence the 1st defendant was charged with was bail-able and subsequently granted him bail in the sum of N500 million, with three sureties in like sum. The sureties according to the judge must be notable Nigerians with landed property in Maitama, Jabi, Utako, Apo, Guzape, Garki and Asokoro.
In addition, the 1st defendant is to deposit his international passport and other travel documents with the court and is to remain at the Kuje Correctional Center pending the perfection of his bail.
Following the perfection of the two bails, the former governor was on Friday, December 20, 2024 released from custody of the Correctional Service Center. Also, in the absence of a fresh charge filed against him by the EFCC, it can adequately be said that there is no threat of his re-arrest and as such he can begin adequate preparations for his proper trial.
His release, no doubt would also bring some serenity and normalcy to the Federal High Court, Abuja and FCT High Court, Maitama, which were usually condoned off and taken over by security personnel, causing untold hardship to court staff and users.
Kayode Tokede
Amid spiralling inflation rate and unstable naira at the foreign exchange,which impacted on business activities in the country, credit to the private sector (CPS) declined by N519.5billion Year-to-Date (YtD), data released by the Central Bank of Nigeria (CBN) has shown.
CPS includes loans, trade credits and other account receivables and supports provided by banks to the private sector within a period. The CPS is a global measure of the banking sector’s balance sheet resilience and contribution to the national economic agenda.
According to the ‘Money and Credit Statistics’ of the CBN, the financial sector CPS as of November 2024 stood at N75.96 trillion, about 0.68 per cent or N519.5billion decline from N76.48 trillion in January 2024.
CPS in 2023 had closed at N62.54 trillion, representing an increase of 50.5 per cent or N20.99 trillion from
N41.52 trillion January 2023.
The latest data on CPS obtained from the CBN indicated that banks’ loans and other facilities to the private sector increased to N75.96 trillion as of November 2024, about 2.55 per cent or N1.89 trillion increase from N74.07 trillion reported in October 2024.
The N1.89 trillion CPS increase MoM in November 2024, however, is a reflection of resilience and support of the banking sector to the economy.
The CBN statistics showed 43.72 per cent or N18.166 trillion YoY increase in CPS from N41.53 trillion in November 2023 to N59.69 trillion in November 2024.
The latest report underlined the continuing growth in banks’ operations and deployment of funds to the productive sector of the economy.
According to a report by the National Bureau of Statistics (NBS), inflation increased from 28.20 per cent November 2023 to 34.60 per
cent as of November 2024.
Also, the naira has depreciated to N1,663.4 against the dollar when compared to N942.12 against the dollar November 2023.
Experts said that the reported N75.96 trillion CPS in November 2024 is on the backdrop of the weakening of the naira at the foreign exchange market and 34.60 per cent inflation rate, stressing that bank customers were lending to big corporations to meet the 65 per cent Loan-to-Deposit Ratio (LDR) threshold of the CBN.
They said banks are in position to continue to create more loans, citing aggressive growth strategies by banks and enabling regulatory environment.
A recent report on capital importation into the country had also shown that banks attracted nearly two-third of capital importation into the country.
Analysts had said this was a measure of confidence in the
Nigerian banks as foreign investors gradually take more active stance in the nation’s economy.
Analysts agreed that increase private sector credit implies a major boost for the economy as there is a link between credit to the private sector and the economic growth. Several studies have continuously found that increased lending by banks directly leads to increase in Gross Domestic Products (GDP).
Analysts at Cordros Capital said the trend in credit to private sector may continue in the period ahead.
“We believe the re-enforcement of the CBN’s limit on Deposit Money Bank’s loans-to-deposits macroprudential ratio will continue to drive the willingness of commercial banks to create risky assets over the short to medium term,” Cordros Capital stated.
The analysts, however, noted that the apex bank’s intensified monetary policy tightening measures could tether the
magnitude of growth going forward.
A study published by the CBN concluded that, “credit is growth-enhancing, even when trade openness, monetary policy, investment climate and infrastructure are low.” The study found that private sector credit increases economic growth.
The balance sheet strength of banks also determine the flow of credits, with the continuing increase in lending amidst macroeconomic headwinds underpinning Nigerian banks’ resilience and stability.
In a study on ‘Balance Sheet Strength and Bank Lending During the Global Financial Crisis’, researchers at International Monetary Fund (IMF) examined the role of bank balance sheet strength in the transmission of financial sector shocks to the real economy.
The study found that, “banks with strong balance sheets were better able to maintain lending
during the crisis.” According to the study, banks that were ex-ante more dependent on market funding and had lower structural liquidity reduced the supply of credit more than other banks.
“However, higher and betterquality capital mitigated this effect. Our results suggest that strong bank balance sheets are key for the recovery of credit following crises, and provide support for regulatory proposals under the Basel III framework,” IMF report stated.
Commenting, the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said the credit outlook remains cautious, calling for expansive distribution of credits across all tiers of companies and sectors.
Currency outside the banking system in Nigeria surged to N4.65 trillion in November 2024, representing 95.3 per cent of the total currency in circulation, according to the latest data from the Central Bank of Nigeria (CBN).
This marks a significant increase of N360 billion from N4.29 trillion in October when the proportion stood at 94.2 per cent.
The total currency in circulation which encompasses cash held both by the public and within banks also climbed to N4.88 trillion in November, up from N4.55 trillion in October.
According to analysts, while the 7.3 per cent rise in circulation is notable, the faster growth of cash held outside banks underscores an increasing preference for liquidity outside the formal banking system especially with Yuletide spending. Since the start of the year, the share of currency outside banks has been on a steady rise. In January 2024, N3.28 trillion was held outside banks, accounting for 89.9 per cent of the total N3.65 trillion in
circulation. By November, this figure had jumped by 41.8 per cent, illustrating a consistent upward trend in cash-based transactions and liquidity preference.
A monthly analysis revealed the dynamics of currency outside banks throughout 2024. In January, currency outside banks amounted to N3.28 trillion, representing 89.9 per cent of the N3.65 trillion total currency in circulation. By February, this figure increased to N3.41 trillion, a 4.0 per cent rise from January, while the total currency in circulation grew slightly to N3.69
trillion, with 92.5 per cent held outside banks.
In March, currency outside banks saw a notable 6.2 per cent increase, reaching N3.63 trillion. Total currency in circulation rose to N3.87 trillion, with the proportion of cash outside banks climbing to 93.8 per cent. However, April recorded a slight dip, with currency outside banks dropping to N3.61 trillion, a 0.6 per cent decline from March, even as the total currency in circulation edged up to N3.92 trillion. Despite the decline, 92 per cent of the currency remained
outside the banking system.
May saw a recovery as currency outside banks rose to N3.71 trillion, a 2.5 per cent increase from April, while the total in circulation grew to N3.97 trillion, with 93.5 per cent held outside banks. This upward trend continued in June, with currency outside banks increasing to N3.79 trillion, a 2.2 per cent rise from May, as total currency in circulation climbed to N4.05 trillion, maintaining the 93.5 per cent share outside banks. July marked a shift, as currency outside banks fell to N3.67 trillion, a 3.1 per cent drop from June,
even though the total currency in circulation remained steady at N4.05 trillion. This reduced the proportion of cash outside banks to 90.6 per cent. In August, currency outside banks rebounded to N3.87 trillion, a 5.6 per cent increase from July, while the total in circulation reached N4.14 trillion, restoring the 93.5 per cent share outside banks. September witnessed another rise, with currency outside banks climbing to N4.02 trillion, a
As 2024 winds down, the drivers of telecoms sector have highlighted key issues and challenges that shaped the sector, while raising hopes for better service quality in 2025, writes e mma o konji
With a deep retrospect into the activities of the telecoms sector in 2024, telecoms operators came to a conclusion that the sector was fraught with challenges that slowed down development in the sector in 2024, a situation, which they said, compelled them to subsidise telecoms service offerings for data and voice calls below cost price that was not sustainable.
Despite the challenges, telecoms operators contributed immensely to Gross Domestic Product (GDP) growth, job creation, investments, connectivity, quality of service, broadband and internet penetration in 2024.
GDP GrowTh
Relying on the figures released by the National Bureau of Statistics (NBS) for GDP growth, telecoms operators are of the view that the sector contributed immensely to GDP growth in 2024. According to NBS figures, telecoms contribution to GDP in 2024 stood at 16 per cent, which is quite significant from the scheme of things.
Pleased with the contribution of telecoms to Nigeria’s GDP, the Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), who doubles as the spokesperson for telecoms operators in Nigeria, Gbenga Adebayo, told THISDAY that the sector contributed immensely to GDP growth adding that there was increased growth of about three per cent in every quarter of 2024.
According to Adebayo, “If you look at the statistics, the telecoms sector had the most-steady contribution to GDP as a sector. I think our contribution has been steady and has been consistent in the past years, in particular between 2023 and 2024. I think the contribution has been steady and that also in no small way, helped in stimulating the economy. Remember that we provide the infrastructure that drives other infrastructure. So in that regard, we can say that we have contributed immensely as a sector to Nigeria’s GDP, and the contribution of other sectors to the economy is powered by the telecoms sector.”
According to Adebayo, the telecoms industry has done more in terms of indirect employment because a lot of the non-core services in the telecoms sector, has gone into outsourcing, and so the impact of employment creation by outsourced companies supporting telecoms providers and by other sectors, depended on telecoms. He explained that the sector has helped small businesses to grow and that the small businesses have in turn, created employment
for several Nigerians.
“I would say we’ve had more jobs created outside of our sector, relying on the services provided by our sector. So the growth of Fintech, for example, is linked to the existence of the telecoms sector. So if Fintech employs X number of people in a year or in the intervening year, that wouldn’t have been possible if you don’t have the telecoms infrastructure behind it. Also, the eCommerce sector that has also employed several people, relied greatly on telecoms infrastructure in 2024,” Adebayo said.
TeleComS InveSTmenT
According to Adebayo, in the year 2024, there was not much investment in the telecoms sector, even though some telecoms operators had major investments that impacted the Nigerian economy in 2024. He said the Licensed Infrastructure Companies (InfraCos), did a lot, both in terms of the expansion of the fiber backbone, including Data Center operators. “InfraCos did a lot in investment and Data Centers did a lot in investment in 2024, and such investments will boost development in 2025,” Adebayo further said.
ConneCTIvITy
While reviewing telecoms activities in the area of connectivity, Adebayo said connectivity improved in the year 2024, even though there were pockets of challenges that affected quality of service, such as vandalisation of telecoms infrastructure, denial of access to maintain telecoms sites by social miscreants, among others.
reGulaTIon
Adebayo said telecoms regulation in 2024 was quite commendable. “I must appreciate the leadership of the industry. I must thank those who led the sector in terms of regulation and policy implementation in 2024.
The Nigerian Communications Commission (NCC) did very well in regulating the telecoms sector in 2024 and the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, also did well in his business-friendly policies and implementation that helped the growth of the sector in 2024.
The policy on SIM card linkage with the National Identification Number (NIN) of telecoms’ subscribers, was concluded this year, after several years of implementation.
“As for the NCC, the interoperability between the various players is decided by the regulator. The rules of engagement are decided by the regulator, and the do’s and the don’ts are also decided by the regulator. Again, the fact that there was no significant infraction or significant penalty on any player, was because the regulator was transparent and the operators also complied with the laid down policies,” Adebayo said.
ChallenGeS
According to Adebayo, the telecoms sector faced several challenges in 2024, that slowed down development in the sector. He said vandalisation of telecoms infrastructure led to significant revenue losses by operators, both in terms of connectivity and in terms of high cost of operations. “There
were severe damages on telecoms’ infrastructure, caused by road contractors, which affected connectivity and quality of service in 2024, coupled with theft of diesel and power stations on sites. But I am glad about the passage of the Critical National Information and Infrastructure (CNII) Bill that seeks to protect telecoms infrastructure going forward,” Adebayo said.
The biggest challenges we had in 2024 were more about vandalisation, denial of access to site by social miscreants, including site closure by government agencies, and of course, the issue of non-sustainability of telecoms tariff, Adebayo said, adding that telecoms tariff in 2024, was far below cost.
“So I can say that 2024 was actually a year of subsidy where operators subsidised their services for everybody. We provided subsidised services and that is not commendable because it is not sustainable,” Adebayo said.
This year, precisely March 14, 13 African countries faced internet disruptions, which led to operational downtime for all businesses connected to the internet, including banks, where bank customers could not carry out banking transactions for hours.
Internet Service Providers (ISPs), as well as broadband connectivity providers were completely disconnected from the internet and from the broadband connections, as they could not provide connectivity access to their customers in banks, schools, churches, mosques, business centres, call centres as well as to organisations in different sectors of the economy. The disruption was caused by multiple cuts in the submarine cable around the coast line of Senegal and Cote d’ Ivoire. The affected 13 countries include: Cote d’ Ivoire, Liberia, Benin Republic, Ghana, Burkina Faso, Togo, Cameroon, Gabon, Namibia, Niger, Nigeria, Lesotho, and parts of South Africa.
Speaking about the restoration process, the CEO, West Indian Ocean Cable Company (WIOCC), Mr. Chris Wood, told THISDAY that 35 networks across West African countries, Nigeria inclusive, were restored to full capacity resilience, few after the cut. adding that it will take another four weeks to fully restore internet services to all network operators that are connected to the affected four submarine cables that came from Europe, with landing points along the West African coast. According to him, it cost a total of about $2 million to achieve full restoration to a single subsea cable, depending on the extent of the cut on the cable.
The story continues online on www.thisdaylive.com
Vice President, Internet Corporation for Assigned Names and Numbers (ICANN) in Africa, Pierre Dandjinou, speaks with Emma Okonji about the financial constraints and lack of other resources that impede the growth of domain names across Africa, and the bold steps taken by ICAAN to remedy the situation, among other issues. Excerpts:
ICANN recently announced the opening of the Applicant Support Program (ASP) for the New Generic Top-Level Domains (gTLD) Program called the Next Round.
What does the ASP seek to address?
To make the New gTLD Program as accessible to as many eligible entities as possible, ICANN is providing financial and nonfinancial assistance to qualified applicants through the Applicant Support Program, or ASP. The ASP is intended to make the New gTLD Program attainable to applicants that want to apply for a new gTLD but are unable to do so because of financial constraints and lack of other resources.
The ASP provides a range of financial and nonfinancial assistance for qualified applicants including access to volunteer professional services, training, and other resources, and reductions in base gTLD application and evaluation fees.
What exactly distinguishes gTLD from country specific Domain Name System and what are the rules guiding the gTLD strings?
Top-level domains (TLDs) are the names at the top of the Domain Name System (DNS) hierarchy. They appear in domain names as the string of letters following the last dot. For example, in the domain name icann.org, the characters “org” identify the TLD. Without exception, all two-character TLDs are country-code domains (ccTLDs), which indicate the country, sovereign state, or dependent territory. Because ccTLDs are managed locally, the rules and policies for registering domain names vary across ccTLDs. While individuals and organisations can
register a domain name, the process of applying for a gTLD is much more complex. In fact, when you apply for a top-level domain, you are applying to operate an Internet registry (a Registry Operator or RO) that plays a key role in the Internet ecosystem. That role comes with both technical and contractual responsibilities. The responsibilities of registries include accepting registration requests, maintaining the database of the necessary domain name registration data, and providing name servers to publish the zone file data (i.e., information about the location of a domain name) throughout the Internet.
The RO sets the requirements for the gTLD; they determine which second-level
domains (the characters before the dot) can be registered, and by whom. There can be an unlimited number of domain names listed under that gTLD; or the gTLD may be restricted, for example to employees or customers.
There are many aspects – technical, financial, regulatory – to running a registry.
Reviewing the Applicant Guidebook from the 2012 application round is a good starting point for potential new gTLD applicants.
How will the new gTLD empower communities to address existing linguistic and cultural barriers that will help reflect their unique identities?
The New gTLD Program gives businesses, governments and other entities the chance to address the needs of populations that speak a non-Latin-based language who can be better served online. Internationalized Domain Names (IDNs) incorporate characters from different scripts, enabling people to use domain names and email addresses in scripts from around the world. IDNs give governments and businesses the ability to reach constituents or customers in their preferred script.
In the next round of the New gTLD Program, ICANN will accept applications for new gTLDs in languages or scripts that are commonly used by a community. Currently 26 scripts, including Arabic, Chinese, Cyrillic, Ethiopic, and Devanagari, representing hundreds of languages, can have a gTLD applied for in that script.
How will the ASP initiative be a game-changer in enabling underserved
communities and lesser resourced organisations benefit from the new gTLD Program?
ICANN developed the Applicant Support Program to make the New gTLD Program accessible to organisations that may want to apply for a new gTLD but are unable to do so because of financial and other resource constraints. The ASP is designed for specific entities that may be eligible for support. These include: nonprofits, nongovernmental, and charitable organizations; intergovernmental organisations; indigenous and tribal peoples’ organizations; and small businesses that operate as social enterprises or which operate in a less-developed economy.
The ASP provides a range of financial and nonfinancial assistance for qualified applicants including access to volunteer professional services, training, and other resources, and reductions in base gTLD application and evaluation fees.
Can you explain how the new gTLD will enhance internet innovation, foster competition and encourage consumer choice in the domain name industry?
The Internet started with just a handful of TLDs, such as .com, .net., .org and others. As it has evolved, the number of generic TLDs in the DNS has increased to reflect the multidimensionality of its billions of users. ICANN has carried out three application rounds for new gTLDs: in 2000, 2004, and 2012. The 2012 round of new gTLD applications was the largest expansion of the DNS to-date, aimed at encouraging innovation, competition, and consumer choice in the Domain Name System.
Kayode Tokede
FCMB Group Plc has secured shareholder approval for a N340 billion capital raise.
The approval, granted during an Extraordinary General Meeting (EGM) held in Lagos and virtually, is crucial for its banking subsidiary, First City Monument Bank Limited, to comply with the Central Bank of Nigeria’s international license requirements.
The approved measures include increasing the authorized additional capital raise from N150 billion to N340 billion, which empowers the Group to explore a diverse mix of financial instruments, such as
ordinary and preference shares, convertible and non-convertible securities, bonds, and loans.
Shareholders also endorsed the divestment of stakes in one or more subsidiaries, with proceeds earmarked for reinvestment in the banking subsidiary, and the acceptance of surplus funds arising from oversubscription of the public offer launched in July 2024, subject to regulatory approvals.
Additionally, the meeting approved an increase in the company’s issued share capital from N19.8 billion divided in 39.6 billion ordinary shares of 50k (Fifty Kobo) each while authorizing the raise of up to $15 million (or its Naira
equivalent) via a mandatory convertible loan targeted at select qualified investors.
“This is a critical milestone,” said Group Chief Executive Ladi Balogun, emphasizing shareholder confidence in FCMB Group’s strategic direction.
FCMB Group reported a 67 per cent growth in nine-month profit before tax to N91.8 billion. An earlier capital raise in September was oversubscribed, showing investor confidence in the company’s growth prospects. Shareholders expressed confidence in the company’s trajectory, applauding its ability to generate robust returns and exceed expectations.
The Sosa Fruit Drink brand from the stable of Rite Foods Limited, has been recognised as the “Innovative Soft Drink of the Year 2024” by Marketing Space, a brand-focused magazine.
Sosa made its first entry into the market in 2022, and has grown to become a premium fruit drink with five unique flavours; Orange, Apple, Cranberry, Mixed Berries, and Orange-PassionMango, available in 35cl and 1-litre packs and setting a new standard for quality and taste. The fruit drink brand has grown to serve as the preferred choice for millions of Nigerians – with a range
of options for its esteemed consumers.
Presenting the award, Publisher of Marketing Space magazine, Ayobami Lukman, stated , “The popular reviews gathered from our surveys made Sosa the overwhelming favourites. The recognition is based on Sosa’s “extreme performance and incalculable impact in the course of the year. And for such a young brand, I believe Sosa will sustain the success trajectory with giant strides as it continues to usurp the dominance from the competition.”
In her remark, Assistant Brand Manager, Sosa
Fruit Drink Brand of Rite Foods Limited, Ruth Mark, expressed her appreciation, saying, “We are thrilled that this is an acknowledgment of our commitment to innovation, quality, and customer satisfaction.”
She added “And we are committed to going the extra mile for all our stakeholders in the new year. This award is dedicated to our team, partners, and consumers for their tireless efforts, dedication, and loyalty. We are proud to make a positive impact because Rite Foods Limited is a proudly Nigerian Company that is truly world class.”
Nume Ekeghe
Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has again demonstrated its unwavering dedication to sports development in Nigeria by sponsoring the Lagos Polo Club for the third consecutive year.
This partnership highlights Stanbic IBTC’s commitment to fostering excellence in sports and promoting community engagement through one of Nigeria’s most cherished sporting traditions.
The bank in a statement noted that as a leading financial services provider, Stanbic IBTC leverages this platform to strengthen its connection with customers, stakeholders, and the broader community especially as Lagos Polo Club, renowned for showcasing athleticism, precision, and teamwork both on and off the field, continues to attract players, enthusiasts, and
spectators from across Nigeria and beyond.
Speaking on the sponsorship, Chief Executive, Stanbic IBTC Bank, Wole Adeniyi, said: “At Stanbic IBTC, we recognise the unifying power of sports and its potential to drive community development. Our continued partnership with the Lagos Polo Club reflects our commitment to not only fostering athletic excellence but also supporting platforms that bring people together to celebrate culture, passion, and shared values.”
This year’s polo season promises to be even more exciting, featuring high-profile tournaments, increased participation, and an elevated experience for attendees. Stanbic IBTC’s sustained support underscores its pivotal role in driving growth and development within Nigeria’s sports and entertainment sectors.
Executive Director, Corporate and Investment Banking at Stanbic IBTC Bank, Eric Fajemisin,
remarked: “This season is set to be an extraordinary highlight on the sporting calendar, attracting not only polo enthusiasts but also international participants and spectators. We anticipate thrilling matches that will showcase the incredible talent of the players as they compete in various tournaments. Additionally, attendees will enjoy a variety of engaging activities that illuminate the intricacies of the sport.”
President of the Lagos Polo Club, Mr. Bode Makanjuola, expressed gratitude for Stanbic IBTC’s enduring support: “We are proud to have Stanbic IBTC Bank as a key partner of the Lagos Polo Club for the third consecutive year. Their continued support has elevated this season’s calendar, creating a platform for our players to showcase their talent. This partnership underscores our shared vision of promoting excellence, community development, and the growth of polo in Nigeria.”
Nume Ekeghe
The Greenwich Group has operated for 30 years.
Marking three decades of excellence, the organization has reaffirmed its position in financial services sector and is set to chart bold new paths for future growth.
Established as Greenwich Trust Ltd, the institution has transformed over the years from a Financial Adviser and Issuing House into a leading Merchant Bank.
Its evolution reached a significant milestone in March 2024, when Greenwich Merchant Bank
secured Approval-In-Principle (AIP) from the Central Bank of Nigeria (CBN) to transition into a non-operating financial holding company.
The bank in a statement disclosed that Greenwich Merchant Bank is the most capitalised Merchant Bank in Nigeria, boasting an impressive asset base of N146 billion as of June 30, 2024.
Speaking on its plans for expansion at the 30th celebration in Lagos, the Chairman of Greenwich Group, Kayode Falowo noted that the institution is set to unfold
a remarkable transformation by launching into new territories of
businesses Insurance, PFA and Fintech, as it has received an Approval- in-Principle from the Central Bank of Nigeria to operate as a holding company.
Speaking of some of the awardees, the Chairman hinted that Greenwich has continued to build on the legacy of the late (Sir) Remi Omotosho’s good governance, integrity, and professionalism, as he was part of the journey of the Company while alive. He further explained that the recipient of the Kayode Falowo Award for Excellence, Shettem was honored for epitomizing the core values of integrity, efficiency, innovation, loyalty, and transparency.
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
As a commitment to shareholder value, Vitafoam Nigeria Plc, has proposed a dividend of N1.05 per share, amounting to N1.375 billion for approval by shareholders at its 63rd Annual General Meeting (AGM), scheduled for 6th March, 2025 in Lagos.
The group’s Net Asset, a major performance indicator
of corporate growth, has shot up to N25 billion in 2024 from N17 billion in the previous year , an increase of 47 per cent. In a statement released to the Nigerian Exchange Limited (NGX) for the year ended September 30, 2024, the Gross Profit significantly rose to N30 billion in 2024 from N17 billion, an increase of 76.5 per cent.
The Earnings Before Tax
,Interest Depreciation and Armotization (EBTIDA) also rose from N7.9 billion in 2023 to N8.3 billion in 2024 financial year.
However, due to the foreign exchange loss of N12.7 billion in the review period, the Profit Before Tax declined from N6. billion to N1.145 billion. Although the Operating Profit increased from N6.9 billion to N7.6 billion, this was moderated
by the huge finance cost of N7.1 billion which depressed the Profit Before Taxation to N1.1 billion from N6 billion last year.
The Group Managing Director, Taiwo Adeniyi who underscored the company’s resilience and commitment to shareholder value said: “Our impressive performance was moderated by the cost incurred on forex. But the worst is over
on the challenges of forex with the liberalization policy of the federal government. As a good corporate citizen, we decided to reward our shareholders with dividend of N1.05 per share despite the loss incurred in the forex.
Our diversified product portfolio will drive future growth while strategic investments backed by research will enhance our competitiveness.
“Vitafoam is reputed as a truly Nigerian Company and its sales cut across other countries. The company’s six subsidiaries- Vitafoam Serria Leone Limited; Vitapur Nigeria Limited; Vitablom Nigeria Limited; Vitavisco Nigeria Limited; Vono Furniture Products Limited. and Vitaparts Nigeria Limited. are well-positioned for quality services and products.”
Emmanuel Addeh in Abuja
Apple is closing in on a historic $4 trillion stock market valuation, powered by investors cheering progress in the company's long-awaited Artificial Intelligence (AI) enhancements to rejuvenate sluggish iPhone sales, Reuters reported yesterday.
The company has pulled ahead of Nvidia in the race to the monumental milestone, thanks to an about 16 per cent jump in shares since early November that has added about $500 billion to its market capitalisation.
The latest rally in Apple shares reflects "investor enthusiasm for artificial intelligence and an expectation that it will result in a supercycle of iPhone upgrades," said Tom Forte, an analyst at Maxim Group, who has a "hold" rating.
Valued at about $3.85 trillion as
of the last close, Apple dwarfs the combined value of Germany and Switzerland's main stock markets.
The Silicon Valley firm, driven by the so-called iPhone supercycles, was the first US company to hit previous trillion-dollar milestones, the report said.
In recent years, the company has attracted criticism for being slow to map out its artificial intelligence strategy, while Microsoft, Alphabet, Amazon and Meta Platforms have pulled ahead to dominate the emerging technology.
Shares of Nvidia, the biggest AI beneficiary, have surged more than 800 per cent over the past two years, compared to the near doubling in shares of Apple during the same period.
Apple earlier in December started integrating OpenAI's ChatGPT into its
devices after unveiling plans in June to integrate generative AI technology across its app suite.
The company expects overall revenue to increase "low- to midsingle digits" during its fiscal first quarter - a modest growth forecast for the holiday shopping season - sparking questions about the momentum for the iPhone 16 series.
However, LSEG data showed analysts expect revenue from iPhones to rebound in 2025.
"Although near-term iPhone demand is still muted ... it is a function of limited Apple Intelligence features and geographic availability, and as both broaden, it will help to drive an improvement in iPhone demand," Morgan Stanley analyst Erik Woodring said in a note, reiterating Apple as the brokerage's "top pick" heading into 2025.
The recent surge in shares has pushed Apple's price-to-earnings ratio to a near three-year high of 33.5, compared to 31.3 for Microsoft and 31.7 for Nvidia, according to LSEG data.
Warren Buffett's Berkshire Hathaway has sold shares of Apple - its top holding - this year, as the conglomerate broadly retreated from equities on concerns over stretched valuations.
"I suspect the stock in three years will not look as expensive as it does today," said Eric Clark, portfolio manager of the Rational Dynamic Brands Fund, which holds Apple shares.
Apple faces the risk of retaliatory tariffs if the U.S. President-elect, Donald Trump, delivers on his promise to slap tariffs of at least 10 per cent on goods coming from China.
"We believe it's likely Apple gets
exclusions on products like iPhone, Mac and iPad, similar to the first round of China tariffs in 2018," Woodring said.
Apple's shares tumbled last Wednesday amid a Wall Street selloff after the Federal Reserve forecast a slower pace of rate cuts next year but investors expect the broad trend of monetary easing to support stock markets next year.
"Technology has been regarded by investors as a new form of a defensive sector because of their earnings growth," said Sam Stovall, chief investment strategist at CFRA Research.
The Fed's action "could end up having a greater impact on some of the other cyclical areas such as consumer discretionary and financials and less so on technology."
"Apple's approach to $4 trillion
XMAS MESSAGE, PRESIDENT TELLS NIGERIANS PRAY FOR YOUR LEADERS TO SERVE DILIGENTLY
President Bola Tinubu, yesterday, joined other leaders and prominent citizens to send goodwill messages to Nigerians ahead of today’s celebration of the birth of Jesus Christ by Christians the world over.
Tinubu urged Nigerians to pray for their leaders to enable them serve diligently and strive for prosperity.
The president, in a message he personally signed, extended his heartfelt greetings to Nigerian Christians as they joined their counterparts globally to mark the birth of Jesus Christ.
In the spirit of the season, Tinubu asked Nigerians to remember the leaders and brave troops in their prayers as they served and secured the country.
He reassured Nigerians that the country was on the path of progress towards a brighter future for every citizen.
The president also sympathised with families that suffered human and material losses through floods, fires, and accidents in 2024.
Others who felicitated Christians on the occasion of Christmas included former Vice President Atiku Abubakar, Senate President Godswill Akpabio, Kwara State Governor Abdulrahman Abdulrazaq, Lagos State Governor
MIXED REACTIONS TRAIL TINUBU'S MAIDEN PRESIDENTIAL MEDIA CHAT
that he deliberately avoided debates ahead of the 2023 national elections.
He, however, took questions from senior journalists on a wide range of issues, including those bordering mostly on his economic reforms and security concerns.
The president was largely straightforward in many of his responses, although a number were quite controversial.
This included his refusal to consider cutting down on big government, decision to remove petrol subsidy wholesale as well as the policy of floating the naira against stronger and more stable currencies like the US dollar.
Reacting to the president's media chat, Mr Ahmed Raji, SAN, who commended Tinubu for his bold decisions so far, stressed that for Nigeria to make meaningful progress, some tough decisions must be made, such as the fuel subsidy removal and the reforms on taxation.
"I agree absolutely with the president that there should be no going back on tax reforms and subsidy removal. A careful perusal of our existing tax laws reveals a lot of gaps and urgent need for harmonisation," he argued.
While pointing out that the four bills pending at the National Assembly had substantially addressed many of the economic challenges confronting the country, Raji maintained that the principle of attribution has been properly addressed in the operation of the country's Value Added Tax (VAT) regime.
"A proper understanding of the principle of attribution is very crucial to the appreciation and understanding of the principle of derivation," he added.
On the stampede occasioned by the distribution of palliatives by some Nigerians, the senior lawyer blamed it on ignorance and lack of self worth, stating that the organisers had a lot of the blame to take.
Speaking on the administration's battle against insecurity, Raji argued that any change in the leadership of the security agencies could have a negative impact.
"With the current onslaught in the North-west against the Lakurawas, the military needs encouragement and not rejigging. We should not dampen their spirits and morale," he argued.
Another senior lawyer, Rev. John Baiyeshea, SAN, however, expressed disappointment with Tinubu's response to issues that were discussed, saying the president was dismissive in all his answers, a development he added showed lack of empathy and concern for the people whose votes put him
in power.
According to Baiyeshea, the president spoke from the point of one, who saw himself as being so much aloof from the painful realities of his ‘chronic’ economic policies currently impacting negatively on the people.
Claiming that Tinubu did not demonstrate leadership with a human face all through, Baiyeshea stated that the president spoke so casually to all the issues with the gusto of a leader, who feels that his position was so sure and secured and entrenched to the extent that nothing could be done to him.
"The president was addressing Nigerians who are already on ground zero of life and you as president cannot speak good, soothing and encouraging words to help your traumatised citizens from the siege mentality that your harsh economic policies have put them in.
“I used to think that this president from his days as a NADECO activist and being governor of Lagos State was a man with milk of human kindness, a welfarist who believed in managing the resources of the nation for the common good of the generality of the citizens.
"But I wonder what exactly makes people in authority turn against the people they are supposed to be ruling. Removal of fuel subsidy is such a vexed and contentious policy that has brought poverty, misery, disease, hunger, anger and frustration on Nigerians.
"And instead of the president to calmly and humbly urge the people to show understanding, he just said annoyingly that there is no going back on the policy. It's like the president telling his fellow citizens to go to hell. To be honest, the president is treating Nigerians with so much contempt and lack of respect.
"Meanwhile, he did not even offer the slightest ray of hope to Nigerians on when their sufferings will abate. Nigerians continue to pay for corruption in the system," argued.
In its reaction, the Peoples Democratic Party (PDP) said the president's remarks confirmed the All Progressives Congress (APC) administration’s insensitivity to the current widespread hardship and suffering being faced by Nigerians, resulting from the ill-implemented and anti-people policies of the ruling party.
In a statement by the National Publicity, Debo Ologunagba, the PDP said, "The declaration by President Bola Tinubu that he has no regrets for the sudden removal of fuel subsidy without any cushioning measures to mitigate the resultant crippling effect on the productive sector, high cost of living and associated hardship which is
now driving citizens to extreme poverty and early death also confirms APC’s disconnection from the primary purpose of government which is the welfare and security of the citizens.''
The PDP spokesman said it was instructive that Tinubu in the chat admitted that Nigerians were bearing the brunt of the failure and inability of the APC administration under his watch to effectively police and secure the nation’s borders so as to prevent the smuggling of petroleum products to neighboring countries.
Ologunagba said the PDP was disturbed that while the APC had failed to account for the proceeds saved from the removal of subsidy, Nigerians were subjected to crushing economic hardship because the APC administration has failed in its fundamental duty of ensuring the territorial integrity of the nation.
Furthermore, he said Nigerians were appalled that instead of admitting failure and seeking solutions, Tinubu claimed that the nation’s economy had improved under his watch when in reality the situation had worsened with comatose productive sector, deteriorating value of the Naira at N1,700 to the US dollar, 34.6 per cent inflation
Babajide Sanwo-Olu, and Enugu State Governor Peter Mbah.
Ogun State Governor Dapo Abiodun, Niger State Governor Mohammed Bago, Minister of the Federal Capital Territory (FCT) Nyesom Wike, and First Lady Oluremi Tinubu also greeted Christians at Christmas.
Tinubu, in his goodwill message, stated, "Dear fellow Nigerians, on this joyous Christmas Day, I extend my heartfelt greetings to Christians across Nigeria and worldwide as we celebrate the birth of Jesus Christ, as narrated
and 40 per cent unemployment rates in the last 18 months.
Ologunagba said the widespread food stampede in various parts of the country which recently led to the death of many Nigerians showed that Nigeria was indeed in perilous times under the APC.
The Northern Elders Forum (NEF) said it believed that the media chat was informative and engaging.
Spokesperson of the forum, AbdulAzeez Suleiman said while the president touched on a number of issues, he would have loved to hear more specifics on how he planned to address the root causes of insecurity, such as poverty, unemployment, among others.
“President Bola Tinubu's maiden media chat has been a topic of discussion among Nigerians, with many eagerly awaiting his views on key issues such as security, the economy, and his proposed reforms. As a concerned citizen, I was particularly interested in hearing his plans and strategies for addressing these pressing issues.
“In his media chat, President Tinubu touched on a wide range of topics, including his vision for the country's
Continued on page 28
in the Holy Scriptures. "Christmas embodies the fulfilment of divine prophecy and symbolises the triumph of love, peace, and unity. It is a poignant reminder that light can emerge even in the darkest times, bringing solace and hope. This belief resonates with people of all faiths. Indeed, God is with us.”
The president said, "Recent tragic events in Ibadan, Okija, and Abuja deeply sadden us, and our thoughts are with those who continue to suffer from these heart-breaking incidents. We earnestly pray that such misfortunes do not revisit our families and communities and that the lives of innocents are never again cut short.
"I offer my deepest sympathies to the families enduring pain and loss this year, whether from floods, fires, or accidents. May we all find comfort and solace in our faith, the support of loved ones, and the abiding presence of Jesus Christ. Our compassionate and merciful God stands with the weak, the broken-hearted, and the sick.
"As we celebrate this blessed season, let us be mindful of those facing difficulties. They are not far from us – our neighbours, family members, and the people we encounter daily, whether in places of worship, markets, offices, or boardrooms.”
Tinubu said, "Kindness transcends financial status. Those with modest means and those with abundance need a smile or a word of encouragement. We must also honour our brave troops, who risk their lives to safeguard our nation. They deserve our prayers and steadfast support.
"Let us extend similar support and prayers to our nation's leaders. With your backing, we can serve our country diligently and strive for prosperity.”
Commending the country’s journey so far, the president stated, "Nigeria is on a promising path of restoration
FITCH: NIGERIA’S PURSUIT OF ORTHODOX ECONOMIC POLICIES IMPROVING
matching platform for all foreign exchange (FX) transactions, launched on December 2, is successful, it will mark another step towards a more transparent and efficient FX regime in Nigeria.
It pointed out that external buffers had benefitted from the exchange-rate reforms and associated increase in formalised FX transactions, with gross official reserves rising to $40.2 billion in November, equivalent to around six months of current external payments, from $32.2 billion in April and well above the median for sovereigns rated in the ‘B’ category of 3.7 months.
Besides, the organisation stated that gross reserves had benefited from Nigeria’s higher current-account surplus, a $917 million foreign currency-denominated local bond issued in August, and a $750 million disbursement from the World Bank on November 20.
These developments, it stressed, will be further buoyed by the Eurobond issue that was successfully completed on December 3, involving a $700 million 6.5-year note and a $1.5 billion 10-year note.
Nevertheless, Fitch argued that a number of challenges remained, including ad hoc or insufficiently communicated policy implementa-
tion that had constrained investor confidence.
It stated that exchange rate policy remained hampered by a lack of transparency in several areas, including the level of net reserves, maintaining that a divergence between the official and parallel market rates has re-emerged in recent months, pointing to slower-than-expected progress on reforms and lingering FX strains.
The report said, “Fiscal policy is another source of uncertainty for 2025. The government’s recent 2025-2027 Medium-Term Expenditure Framework (MTEF) set out plans to narrow the budget deficit more sharply than we had expected.
“However, the MTEF’s assumptions about oil prices and production ($75 per barrel and 2.06 million barrels per day, including condensates) are more optimistic than Fitch’s ($70/bbl and 1.77 million bpd respectively).
“The authorities have increased efforts to raise non-oil revenues even as oil-related revenues appear likely to fall short, but there is already a risk that they could face political challenges implementing their plans to raise the Value Added Tax (VAT) rate to 10 per cent in 2025 from 7.5 per cent currently.
“Fitch views raising fiscal revenues
– and particularly less volatile non-oil revenues - as an important element of the government’s reform agenda and a key consideration for the sovereign’s credit profile, as Nigeria’s revenue/ Gross Domestic Product (GDP) is extremely low.”
Fitch added, “Even with the VAT rate increase, we expect Nigeria’s general government revenue/GDP to average around 10.3 per cent in 2024-2025, compared with a median of 19 per cent for sovereigns in the ‘B’ category.
“Reducing the deficit in line with the MTEF would provide further credibility for the government’s reform agenda, but if the deficit target is missed, it may increase the pressure for further naira depreciation, as well as putting upward pressure on prices and interest rates.”
The ratings agency said a deficit significantly larger than what it projected in its November 1 assessment, when it affirmed Nigeria’s rating at ‘B-’ with a Positive Outlook, could complicate the task of establishing macroeconomic stability and potentially damage policy credibility.
It stated, “The reform-related improvements in Nigeria’s credit profile are captured in the Positive Outlook on the sovereign
and progress, with every indication pointing toward a bright future. In the spirit of this season, let us renew our hope and belief in a prosperous Nigeria.”
Tinubu also had a message for Yuletide travellers. "For those travelling during this festive period, I wish you safe journeys. Rest assured, the government is taking all necessary steps to ensure our transportation routes are secure and convenient,” he stated.
“We also provide free train services and subsidised road transport costs on 144 routes nationwide to ease your travels. Wishing you all a Merry Christmas and a joyous and prosperous New Year,” he added.
Oluremi Tinubu
Mrs. Tinubu, while rejoicing with Nigerians at Christmas, enjoined citizens to hold on to the believe that better days are ahead as 2024 drew to a close. She said the government at the centre led by her husband would positively impact the lives of Nigerians from now on.
The first lady, in the message, also personally signed, stated, "As we celebrate Christmas and look forward to the new year, 2025, I want to take a moment to send my warmest wishes to all Nigerians.
"I express my heartfelt gratitude for your unwavering support and patience as we work towards building a better Nigeria. I want to assure you that under the administration of President Bola Tinubu, we are committed to positive changes that will benefit every Nigerian. Some of the changes are already yielding positive results.
"As this year comes to a close, let us hold onto the belief that better days are ahead. Let us continue to love and support one another, foster unity, and
Continued on page 29
rating. If positive trends in external credit metrics are sustained, or our confidence in the durability of the broader reform agenda strengthens, upward pressure on the rating will increase.”
Separately, Fitch predicted that significant geopolitical developments, such as military escalation in the Middle East or changes in international sanctions, could disrupt supply chains in the global oil and gas sector, and increase its volatility. The organisation said, “We expect global oil demand in 2025 to grow in line with 2024, but more slowly than in 2022-2023. Fitch expects oil prices to decrease to $70/bbl in 2025 from an average of $80/bbl in 2024, due to moderating demand growth and higher production from non-OPEC+ countries, leading to oversupply.”
It added, “Geopolitical tensions, particularly in the main producing regions, such as the Middle East, will continue to influence prices. While these tensions pose risks, they are mitigated by OPEC+’s ability to manage supply. The group has delayed oil production increases until April 2025 and prolonged the complete reversal of cuts by a year, until end-2026.”
L-R: Managing Director, Remita Payment Services Limited, Mr. 'DeRemi Atanda; Director New Growth, LIRS, Mr. Jimi Aina; Managing Diretor, Digitalents HUB, Mr. Kabiru Abiola; and Commissioner for Science, Innovation, and Technology, Lagos State, Hon. Olatubosun Alake, at the Eko Revenue Plus Summit 2024, held in Lagos ... recently
The alarming statistic that malaria claims 400,000 Nigerian lives annually has once again brought to the forefront the need for urgent action to combat this preventable disease.
This staggering number was reiterated at the Lagos Country Club's annual Swim against Malaria event, held on December 21st.
The event, now in its 7th year, aims to raise awareness about malaria prevention, management,
and treatment.
Dr. Olubunmi Apata, a medical doctor and orthopedic surgeon, emphasized the devastating impact of malaria, stating that it's a preventable disease.
"Malaria is a serious disease that
affects everyone, but it's mostly deadly in children under five years old and non-immune adults," Dr. Apata warned.
"Symptoms of malaria include high fever, body pains, joint pain, headaches, and a general feeling
Adibe Emenyonu in Benin City
Edo State Governor, Senator Monday Okpebholo has signed the 2025 Appropriation bill of N675 billion, tagged - 'Budget of Renewed Hope for A Rising Edo' - into law after the bill was passed by the Edo State House of Assembly. Earlier, the governor proposed
of being unwell. In severe cases, malaria can affect other organs, such as the kidneys and brain, leading to cerebral malaria, coma, and even death," he added.
Apata stressed the importance of seeking medical attention immediately if symptoms persist.
His words: "Getting medications to treat malaria can be poorly managed, and most times, people may not be able to ascertain the severity of the malaria. Having a medical doctor diagnose and treat properly is very important."
Osikoya also emphasized the need for sustained efforts in the fight against malaria. "We can't just do this once and forget about it. We need to keep pushing, keep creating awareness, and keep working together to prevent malaria," he said and encouraged individuals and organizations to get involved in the fight against malaria and to support efforts to prevent the disease.
N605 billion appropriation to the assembly but passing the budget on Monday, the lawmakers jacked up the budget and added N70 billion making it N675 billion which was then passed.
Presenting the report, the chairman of the Assembly Committee on Supplies, Sunday Fada, (PDP Esan Central), noted the committee came up with the increase in the budgetary allocation to enable the governor carry out his five-point agenda in the state, hence the increase from N605 billion to N675 billion.
the dividends of democracy to the people of the state.
Assenting to the bill at the Government House, Benin City, on Wednesday, Governor Okphebholo said the budget would revive economy of the state and deliver
The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede has charged soldiers and officers of the 6 Division Nigerian Army, to square up with oil thieves sabotaging the nation’s economy through illegal oil bunkering in the Niger Delta area.
The COAS noted the illicit act of the oil thieves was affecting the stability of the economy, stressing the effort of the officers in tackling the menace will scale up oil production from the position it is presently.
Addressing the soldiers during his official visit to the 6 Division Nigerian Army, Port Harcourt, yesterday, Oluyede revealed that President Bola Tinubu has given them marching orders to end oil theft and vandalism of government assets in the region.
Oluyede, accompanied by the General Officer Commanding (GOC) 6 Division, Major General Jamal Abdussalam and other senior officers during the visit, charged the military officers to ensure that there is maximum achievements in the fight against oil theft. According to him, being the major source of economic revenue of the country, if oil assets are not protected, Nigerians will continue to suffer hardship because as the Dollar
value continues to increase, the cost of food and other commodities will continue to shoot up higher.
Oluyede said: "There is no other way as it is now that the Dollar will come down if the government does not make money from oil - because oil is the mainstay of the economy.
"So, if we are not making money from oil, the Dollar will keep on rising and that means food and everything will be expensive. Now, Nigeria is our country; we do not have any other country so we must make Nigeria work.
"So why I am here this afternoon is to charge you because we have been given the responsibility to safeguard all oil infrastructure in Niger Delta and that we must do well. I have spoken to your Brigade Commanders. I have told my officers that they lead you well, I am sure you will do your work well. And they are going to lead you well."
He advised soldiers: "If anybody tells you to go and do anything illegal, tell them that the Chief of Army Staff said that you should not do it. As your father, I will beg you to do what is correct. Now, as your leader, if you do not do what is correct, I will deal with decisively with offenders.
"So, if you don't want to be in soup, just go and do your work and do it well. Like I told you, I know this
environment very well. I was the GOC here, so there is nothing you can tell me. So go tell your colleagues that this is my message."
Assuring the soldiers of better life awaiting them in the nearest future, the COAS told them that "There is no other way to earn money for Nigeria. And let me tell you, I have told Mr. President about our predicament in the Army. Talking about accommodation, kitting, whatever - where is the government going to get the money if they do not have money from oil? No, tell me, where else will they get the money? Now, if you do your part, I will do my part.
In the next few weeks, you will see that things will start changing. Even your Ration Cash Allowance (RCA) we are working on it so that we can have something better for you. And the same thing we are going to do with kitting and accommodation."
He further stated: "There will be massive accommodation for you (soldiers) so that you can have places to live with your families. But if we do not make the government earn money, where will they get money? There is no other way".
Earlier, the Army Chief participated in the decorations of 11 senior officers to higher ranks, held at the Officers Mess of the Division.
Okpebholo said: “I have just signed into law, a budget of 675,220,058,858.52 tagged a ‘Renewed Hope Budget for a Rising Edo’.
“It is hoped that the 2025 approved budget will revive the economy of Edo State and deliver the dividend of democracy to the good people of the state."
He also mentioned that in preparing the budget, special care was taken to ensure that a larger percentage was appropriated for capital expenditure, stressing the administration’s commitment to embarking on massive capital project in the new fiscal year
The governor further commended the Speaker of Edo State House of Assembly, Rt. Hon. Blessing Agbebaku and other members of the Assembly for the speedy consideration of the budget.
Speaking earlier while presenting the bill to the governor for accent, the Speaker, Blessing Agbebaku, also said the budget was significantly increased from the initial sum of 605billion to ensure more fund is allotted to the agricultural sector.
He also emphasized the need for preventive measures, such as using mosquito nets, preferably insecticidetreated nets, and insecticides to kill mosquitoes that transmit the malaria parasite.
Furthermore, Apata highlighted the importance of community involvement in preventing malaria, stating that: "It's not just about individual actions, but also about community efforts to prevent malaria. We need to work together to create a malaria-free environment."
He encouraged individuals to take responsibility for their surroundings and to work together to prevent the spread of malaria.
Ayodeji Osikoya, Chairman of the Swimming Section, Lagos Country Club, stressed the importance of collective action.
His words: "We're creating awareness about the prevention against the deadliest disease, malaria. We're also creating partnerships with companies, manufacturers, and pharmaceutical companies to ensure we tackle the menace of malaria."
He noted that the event has been successful in raising awareness and promoting preventive measures, but more needs to be done to combat the disease.
Dr. Laja Adesina, a member of the organizing committee, echoed the urgency of the situation, restating that: "Malaria kills 400,000 Nigerians every year, mostly children. We need to do something about it."
He emphasized the need for behavioral change and encouraged participants to adopt malaria prevention practices: "If we pay the same attention we gave to COVID-19 to malaria, we can contain it. It starts with the government, and then people will take responsibility to prevent malaria across the nation."
Adesina also highlighted the economic impact of malaria on Nigeria. He said: "Malaria is not just a health issue, but also an economic issue. It affects productivity, it affects businesses, and it affects the economy as a whole."
He emphasized the need for a multi-faceted approach to tackle malaria, including awareness, education, and community engagement.
As Nigeria grapples with the malaria menace, it's clear that urgent action is needed. The Lagos Country Club's Swim against Malaria event is a step in the right direction, but more needs to be done to prevent this preventable disease from claiming more lives.
One thing is certain - the fight against malaria requires collective action, and it starts with awareness, education, and a commitment to saving lives.
Olusegun Samuel in Yenagoa Governor of Bayelsa State, Senator Douye Diri, has expressed concern over a new trend in oil bunkering, saying children and women were being used as human shields at illegal refining camps.
The Bayelsa governor stated this during a meeting with first class traditional rulers in the state and local government chairmen at the Government House, Yenagoa.
He said the ugly situation was discovered by security operatives on reconnaissance operations and called
on traditional rulers to educate their subjects on the dangers of the illegal business to human health and the environment.
He said: “The report I received recently is that at illegal bunkering sites, they now have children and women, which is a dimension I have never heard before.
“Sometimes, when the military are authorised to destroy those camps and they get there on reconnaissance, they discover that children and women are used to shield those places. So, we all have to work together in our domains
to educate our people.
“There was a situation where the military moved in and discovered that children and women were there and had to withdraw.”
Governor Diri urged the monarchs and council chairmen to take steps to curb the menace which he said occurred in Southern Ijaw, Ekeremor, Brass and Nembe council areas. He also charged the monarchs to report to him oil bunkering sites in their domains, stressing that the ugly trend could be addressed through collaborative efforts.
L-R: Baale of Marine Beach, Chief. Joseph Omobolanle Ogunmola; Member Federal House of Representative, representing Apapa/ Igammu Federal Constituency, Hon. Dr. Adesola Adedayo; one of the Beneficiaries, Shakiru Jimoh; Chairman, Governance Advisory Council (GAC) Lagos State, Prince Tajudeen Olusi and former APC Chairman, Lagos State, Tunde Balogun, during the distribution of Christmas palliatives to Constituents of Apapa/ Igammu Federal Constituency held at Tego Barrack Marine Beach, in Lagos ...recently
Speaker of the House of Representatives, Rt. Hon Tajudeen Abbas, yesterday said the country continues to face complex security challenges, including terrorism, banditry, and other forms of criminality.
He also said that the federal government, under the leadership of President Bola Tinabu, has made significant investments in modernizing the Nigerian Air Force.
At the same event yesterday, the Nigerian Air Force (NAF), decorated the 19 newly promoted Air Vice Marshals (AVMs), and 33 Air Commodores.
The Air Force Council had on December 19, approved the promotion of 52 senior officers to the next rank of Air Vice Marshals and Air Commodores.
Speaking during the colourful decoration ceremony at HQ NAF Officers Mess and Suites Kado, Abuja, the Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, tasked the newly decorated officers to continue to display the same exceptional determination, selfless service, and commitment to excellence which earned them their elevation.
He stressed that the Nigerian Air Force counts on their leadership to achieve outstanding results in every area of their core competence, adding that failure is not an option.
According to him, "Your elevation is not merely a reward but a call to higher responsibility. Although some of you did not make it on your first attempt, you are no less
deserving than those who got promoted before you.
"I proudly say that the Nigerian Air Force has come of age as it stands as a towering symbol of our nation’s strength and sovereignty, and an indispensable pillar of national security.
"Our extensive fleet renewal and acquisition efforts have directly translated into notable battlefield successes".
He noted that the NAF, leveraging persistent precision strikes, close air support, and logistics operations, has collaborated effectively with sister services to disrupt terrorist activities in the North-east and North-west, denying these groups freedom of action.
The outcomes of their joint operations and inter-agency collaboration, he said are clearly reflected in the relative peace across the nation.
His words: "Farmers are returning to their fields, and citizens from all walks of life can peacefully celebrate with their loved ones during the Christmas holidays.
"Furthermore, our intelligencedriven air operations, conducted in synergy with surface forces, have effectively curtailed illegal oil bunkering and theft in the South-South region.
"These concerted efforts have significantly boosted oil production, enabling Nigeria to exceed the two million barrels per day mark - a level of output that had eluded the nation for years.
"Suffice it to say that the achievements of the Nigerian Air Force could not have been possible without
Omon-Julius Onabu in Asaba Investment Banker and entrepreneur, Tony Elumelu, has donated 1,800 bags of rice to households in Onicha-Uku, Aniocha North local government of Delta state. Some of those who benefitted from the gesture by the economist, philanthropist and architect of the famous Tony Elumelu Foundation included: The royal palace and council of chiefs, elders, faith-based organisations, including the Christian Association of Nigeria (CAN) as well as various socio-cultural and youth groups. Excited leaders of the different groups and elders were also at the country home of the Elumelus on Sunday to express their appreciation
of the donation of the staple food.
In a speech at a brief ceremony, where leaders of the different groups took turns to eulogise and pray for the donor and his family, Elumelu said that he had always derived joy in offering a hand of support to others, particularly in his ancestral community. He charged the people to make giving and unity their watchwords always. He promised to continue to strive to empower youths and lend a helping hand in lifting up others around him with the resources that God has blessed him with. Elumelu, who was represented by the Head, Media and External Relations of UBA, Nasir Ramon, thanked the people for their profuse expression of gratitude and urged
the unwavering dedication and professionalism of our personnel who work tirelessly in the field."
Earlier in his address of welcome, the Chief of Administration, Nigerian Air Force (NAF), Air Vice Marshal Idi Sani, said that promotion comes with higher and added responsibilities, stating that their elevation to higher ranks is an indication of the confidence that the NAF has in their ability to perform assigned task.
He added that it is also a reward
for hard work, dedication, discipline, and sacrifice.
"Accordingly, it is incumbent on you not to betray the confidence reposed in you by the Service. You must therefore continue to be diligent, focused, and professional in the discharge of your duties, and ensure you continue to add value to the Air Force and indeed the nation for recognizing you," Sani said.
On his part, Speaker of the House of Representatives, Rt. Hon Tajudeen
Abbas, said this while delivering a keynote address at the decoration of the 52 newly promoted Air Vice Marshals and Air Commodores in Abuja.
Represented by Deputy Speaker of the House, Rt. Hon Benjamin Kalu, the Speaker told the newly decorated officers that with their new ranks come higher expectations and the mandate to safeguard Nigeria's territorial integrity.
His words: "Your leadership must
inspire operational effectiveness, innovation, collaboration in addressing these challenges. You must work with other security agencies. The Air Force alone cannot do it.
"The synergistic effects of pooling your resources, your intelligence, your expertise, your professionalism together cannot be overemphasized.
"Do not walk in silence. You must build the synergy that breeds greater impact, especially for the security of our nation.
Kuni Tyessi in Abuja
Protest erupted in the University of Abuja over the choice of a substantive vice-chancellor as professors threw all care to the wind and called out the process in the school premises, claiming it lacked merit and was devoid of due process.
This comes as more than 80 scholars from within and outside Nigeria have applied to become the next substantive vice-chancellor of the university.
It is on record that a disturbing incident occurred during the protest as the crew of Channels Television, were brutally manhandled by security operatives.
The situation escalated further, with the crew's vehicle vandalized, causing significant damage.
Not done yet, the security operatives detained the crew for over an hour.
Allegations are swirling that the retired Air Vice-Marshall Sadiq
them to continue to share with one another in the true spirit of love and togetherness.
Ramon further remarked: "Tony Elumelu embodies hard work, generosity and the unshakeable belief that when we lift others, we rise together. We encourage everyone to embrace this spirit of giving and unity, not just during Christmas but in our everyday lives."
Speaking on behalf of the people, the traditional ruler of the community, Agbogidi Agbamuche, represented by Chief Steve Osakwe, the Ede of Onicha-Uku, described the ceremony as special. He noted that Elumelu has remained humble, caring and committed to his roots despite his
Kaita-led governing council, in cahoots with certain staff members, tried to install the Acting VC, Prof. Aisha Maikudi, as the substantive vice-chancellor, despite claims she did not meet the eligibility criteria outlined in the job advertisement.
This move has raised eyebrows, sparking concerns about the fairness and transparency of the selection process.
Investigations showed that a crisis in the senate meeting was convened on Christmas Eve at 9 am, as the governing council sought to oust senate members who allegedly refused to back the appointment of Maikudi, sparking tensions within the university community.
University officials familiar with the matter revealed that a heated session recently took place at the governing council meeting, sparked by allegations that Kaita was attempting to impose the Acting Vice-Chancellor, Professor Aisha Maikudi, as the substantive
remarkable success and towering personality globally, always giving back to his own people at the grassroots.
He said: "Today we gather to celebrate the spirit of Christmas - a season of love, kindness, and generosity. This event is a testament to the deep commitment of Tony Elumelu to his roots, his people, and his vision for a better and brighter future for all. He has not only made an indelible mark on the global stage but continues to impact lives right here in his hometown.
"This initiative reflects the values Elumelu embodies: hard work, generosity, and the unshakeable belief that when we lift others, we rise together.”
vice-chancellor who was unqualified to apply in the first instance.
The rapid rise of the 41-year-old acting vice-chancellor to prominence in the academic world has raised eyebrows in some quarters.
Allegations suggest she was fasttracked into her role as a Professor of International Law under questionable circumstances, becoming a professor in 2022 and promptly appointed Deputy Vice-Chancellor (DVC).
Her swift ascension is reportedly linked to her father's influence, a notable figure from Katsina State, Alhaji Sani Maikudi, with the chairman of
the governing council coming from the same state.
This development has sparked questions about the selection process and potential favouritism and nepotism.
Also fingered in the succession crisis is the immediate past Vice Chancellor, Professor Abdulrasheeed Na'Allah, who allegedly paved the way for Professor Maikudi to become the acting VC as a form of gratitude. This favour was reportedly in return for the support of Aisha's father, Alhaji Sani Maikudi, who was the former council chairman.
Chuks Okocha in Abuja
Ripples of last week loss of lives by Nigerians who scampered for food items for the Christmas and New year seasons continued as the League of Northern Democrats (LND) has called on the federal government to develop economic policies that would foster self-sufficiency and reduce or even eliminate the need for such hangouts.
The league in a statement issued by its spokesperson, Dr Ladan Salihu, said this would address the root causes of poverty and hunger in the country and prevent the unfortunate deaths that occurred recently as a result of the struggle for palliatives by Nigerians.
“As Nigeria grapples with alarming levels of poverty, hunger, and destitution the generosity of individuals and organisations providing relief to the vulnerable is highly commendable,” the LND stated.
It further said the tragedies that
occurred in Abuja and Anambra State called for the urgent need for safer, more effective methods of delivering assistance.
It advised the establishment of multiple distribution centres to reduce congestion and improve accessibility for recipients, as well as partnering with law enforcement to maintain peace and order during distribution activities.
“We urge all stakeholders, government agencies, non-governmental organisations, religious bodies and community leaders, to adopt measures that prevent such incidents,” the league advocated. Among these measures, according to them, include the deployment of “trained personnel to manage crowds during distribution events to ensure order and safety, and the implementation of pre-registration of beneficiaries with designated time slots for collection to minimise overcrowding.”
L-R Executive Director, African Leadership Business School, Mrs. Ifeoma Esorougwe; Honorary Doctorate Degree recipient and Managing Director, Bellpoint Energy Limited, Mrs.
Mo'Ekhator; and Founder, African Leadership Business School (ALBS), Prof. Joseph Mba, during the presentation of certificate of Honoris Causa degree in Strategic Leadership and Change Management 2024 to Mo'Ekhator in Lagos.... recently
The Human Rights Writers Association of Nigeria (HURIWA) has expressed concerns over the lack of transparency surrounding the trial and prosecution of terrorism suspects in Nigeria.
The group accused the government of mishandling the process, asserting that the entire spectacle is shrouded in secrecy, raising doubts about the
credibility and accountability of the ongoing trials.
In a statement issued on Tuesday, the National Coordinator, Emmanuel Onwubiko, HURIWA criticized the government for providing limited information about the trials of Boko Haram and other terrorism suspects.
It noted the trials, reportedly held at facilities like the Kainji Detention Center, have been devoid of public
been a series of it.
oversight, with no credible reportage or journalistic observation to corroborate claims of convictions or acquittals.
According to the Rights group, “While the government claims to have prosecuted and convicted hundreds of terrorism suspects, no Nigerian citizen or reliable journalist has seen these trials take place.
“The process has been reduced to a press statement scribbled by the Office
MIXED REACTIONS TRAIL TINUBU'S MAIDEN PRESIDENTIAL MEDIA CHAT economic development, his plans for tackling the security challenges facing Nigeria, and his proposed reforms to improve governance and accountability.
While his speech was articulate and well-reasoned, I found myself wanting more concrete details and actionable steps to address these issues.
“On the issue of security, President Tinubu emphasised the need for a comprehensive approach that combines military action with social and economic interventions.
“While this is a step in the right direction, I would have liked to hear more specifics on how he plans to address the root causes of insecurity, such as poverty, unemployment, and social inequality.”
On the economy, Abdul-Azeez said Tinubu outlined his vision for diversifying the country's economy and creating more opportunities for small and medium-sized enterprises.
He said while these were laudable goals, he would have appreciated more details on how he planned to achieve them, including specific policies and initiatives that would be implemented.
“In terms of his proposed reforms, President Tinubu spoke about the need for greater transparency and accountability in government, as well as the importance of strengthening institutions to ensure good governance.
“While these are important principles, I would have liked to hear more specifics on how he plans to implement these reforms and overcome the challenges that have hindered progress in the past.
“Overall, while President Tinubu's maiden media chat was informative and engaging, I believe that more concrete details and actionable steps are needed to address the pressing issues facing Nigeria.
“As a concerned citizen, I hope that President Tinubu will continue to engage with the public and provide more clarity on his plans and strategies for moving the country forward.”
A Legislative Consultant and Public Affairs analyst, Mr. Akinloye Oyebanji, was of the opinion that the media chat coming after 18 months wasn't encouraging, saying there should have
“Presidential chats coming in the 18th month of an administration is not encouraging, especially an administration that has taken some drastic decisions affecting all levels of the economy of the country and its citizens. There should have been a series of it, addressing concerns of Nigerians and also getting feedback from both sides of the divide.
“Secondly, the president only spoke about his programmes and decisions. A chat of this nature, I believe, should be a breeding ground to talk about issues, decisions and weigh advice or inputs proffered by the citizens to make a considerable headway.
“Our concerns, or let me say my concerns are the budget, borrowings, high cost of living, the tax reform, fuel subsidy removal, floating of Naira, inflation, cabinet size, excessive government spending and a few others.
“While he addressed some, he damned all our calls to have a rethink on some by reiterating his resolve to continue with his policies on these come what may.”
Lending his voice, an Abuja-based cleric, Bayo Oladeji, said the media chat was long overdue, and prayed it would not stop. He stressed that the media chat gave Nigerians the opportunity to see the thinking of the president.
According to him, “Every president has his own style of governance. There's nothing anyone can do about it, you either agree or disagree. The president has justified his policies and he scored himself excellent. It is left to the economists and security analysts to agree or disagree with him.
“Interestingly, the experts, too, will not agree among themselves. The president said he has no regret about the withdrawal of the subsidy and that he does not believe in price control. He advised the people to adjust their spending. Once you are living in this country you have to abide by the government's policies.
“There is hardship in the land due to the high cost of living occasioned by the withdrawal of fuel subsidy and the unending Naira devaluation, but the president believes that is the only
way out of rescuing the economy, we have to allow him to do his best.”
He, however, advised the president to ensure that there was a calendar to all his policies.
Nigeria’s first professor of Capital Market/pioneer President, Capital Market Academics of Nigeria, Prof. Uche Uwaleke, rated the president's performance as being above the average mark.
He said: "In terms of addressing the key concerns of Nigerians and the economy in general within the period, I would rate the president above average.
“From security to agriculture and indirect methods his administration has taken to fight corruption such as fuel subsidy removal, increase in minimum wage and students loan scheme, I score him high on the responses that he gave."
He however, expressed disappointment over the president's decision not to reduce his cabinet.
Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said the president dwelt on issues paramount to his transformation agenda, stressing the successes made in revenue generation, security and debt management.
He argued that, "The president and his handlers believe he has performed well but key issues of endemic poverty and serious hardship being experienced by the populace persist and President Tinubu only appealed as usual for patience.
"The economic situation is biting very hard on the people and it could be evident in the desperation of Nigerians when palliative items were being distributed leading to stampedes.
"The major concern of the people is their welfare which can be taken care of with more employment opportunities, reduced cost of living and a pragmatic solution to the very high cost of goods and services."
The Director General of Nigerian Employers’ Association (NECA), Dr. Adewale Smatt Oyerinde, and the Chief Executive Officer of BIC Consultancy Services Limited, Dr. Boniface Chizea, commended the Nigerian leader for
of the National Security Adviser or the Attorney General, leaving Nigerians in the dark about the proceedings,''.
The association emphasized that democracy requires transparency and accountability, especially in the prosecution of crimes as grave as terrorism.
It cited global examples, such as the trials of detainees at Guantanamo Bay, where journalists are allowed to
hosting the press and hoped that the development should continue.
They also believed that Tinubu did not deal sufficiently with issues that bothered Nigerians the most.
For instance, Oyerinde, said the President’s address did a bit to address the issues when more definitive statements would not have been a bad idea, especially as the nation is grappling to cope with the bitter pill of this administration’s ongoing reforms.
He, however, agreed with the president on the issue of price control.
“You can only introduce the mechanism of price control when you have control on the cost, availability and supply of critical inputs, such as FX, raw materials, etc. If you cannot control the prices of inputs, you cannot control the prices of goods and services on the shelves,” he pointed out.
Oyerinde also said the removal of fuel subsidy, the student’s loan scheme and minimum wage increase could not, on their own, solve the endemic challenge of corruption.
“We want to believe that the president’s statement was taken out of context. While these three issues will address some fundamental challenges, they are, however, not enough to address the corruption challenge,” he said.
He argued that public borrowing was not in itself a bad idea if the debt was properly channeled to developmental activities.
Nevertheless, he remarked that Nigeria’s challenge was that there was little or nothing to show for the millions of dollars that had been borrowed in time past.
Chizea insisted that the president did not speak on issues that were dear to Nigerians, like the reviving of government’s refineries in the country.
He, however, agreed with the president that it was needless to resort to price control measures and the need to forge on with the ongoing tax reforms.
“I think that we should not go back on the tax reforms,” Chizea said, adding that “price control has never worked,” even though he did not believe that Tinubu’s large cabinet was necessary.
witness proceedings under controlled conditions, ensuring credibility and public trust.
“Even in the United States, where Guantanamo Bay houses some of the world’s most dangerous terrorists, journalists are granted access to observe trials and report to the public.
“This allows citizens to believe in the system and ensures accountability. In Nigeria, however, the government tries terrorism suspects off-camera and without any independent observers. This is unacceptable,” HURIWA declared. The group accused the government of running the country like a secret society by withholding critical information from citizens.
It argued that the sovereignty of Nigeria belongs to its people, as enshrined in the Constitution, and that citizens have the right to know how those who unleash monumental violence on their communities are being prosecuted.
HURIWA stressed that the ongoing secrecy undermines trust in the judicial process and leaves room for doubt about whether the trials are even taking place.
“We are not advocating for live coverage of these trials due to potential security concerns, but there must be provisions for judicial correspondents and credible media representatives to witness the proceedings and report to Nigerians. This will ensure believability and credibility in the process,” the group stated.
The association also criticized the lack of commitment from government officials to allow transparency. It argued that press statements from the Office of the National Security Adviser or the Attorney General of the Federation are insufficient to reassure Nigerians that justice is being served.
HURIWA expressed particular concern for the victims of terrorism, especially those in the North East, North West, and Abuja, who have borne the brunt of attacks by Boko Haram and other militant groups.
“These victims deserve to know that the killers of their families and communities are being held accountable. The government’s lackadaisical attitude toward these trials is a disservice to them and to all Nigerians,” the group stated.
Anambra State correspondent of THISDAY Newspaper, Mr. David-Chyddy Eleke, has been named Anambra Journalist of The Year 2024 by Anambra First Media Awards.
Eleke who was nominated in the category alongside two other journalists; Mr. Izunna Okafor and Egwebuike Celestina Chukwuebuka, emerged the winner in the category.
The award was presented to him by the Organisers of the event through the Commissioner for Health in Anambra State, Dr. Afam Obidike who commended the resilience and courage of the journalist and congratulated him on the award.
Earlier, a representative of Anambra First Media Award, Mr Daniel Ezeigwe, had said in his opening address said the event which is in its maiden stage was thought up to celebrate media practitioners who are exceptional. He said: "We are here to celebrate those who work hard every day, projecting the image of Anambra in positive light to the world. We are
here to celebrate craft and creativity in the media space.
"These people have been chosen by their fans who have been following them. We choose to begin this Anambra First Awards because someone has to lead, and Anambra is the fastest growing media brand in the nation today and we want to celebrate those that have not been celebrated enough and celebrated at all.
"This may look quite modest because it is our maiden outing, but I assure you it can always get better. What we are doing here is to spur media people to continue to tell stories that will shape society, hold leaders accountable and project positive messages of our state to the outer world. We love your craft and we are here to celebrate you."
Earlier, the Managing Director and Chief Executive Officer of Anambra Advertising and Signage Agency, Mr. Tony Odili Ujubuonu, delivered a keynote address themed: “Media Role in Reshaping our Society and Advancing our Collective Progress.”
The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, exchanging pleasantries with officers of 6 Division Nigerian Army, Port Harcourt ... yesterday IN XMAS MESSAGE, PRESIDENT TELLS NIGERIANS PRAY FOR YOUR LEADERS TO SERVE DILIGENTLY embrace the diversity that makes our nation so great. I wish you all a merry Christmas and a prosperous 2025 filled with love, joy, peace and prosperity."
Atiku Abubakar
Former Vice President Atiku Abubakar, while extending Christmas felicitations to the Christian community, implored Nigerians to embrace a life of love and unity, drawing inspiration from the joyous spirit of the Christmas season.
In the message by his media aide, Paul Ibe, Atiku urged citizens to be guided by compassion and selflessness, encouraging them to cherish the significance of Christmas as a time for reflection and togetherness.
He reminded Nigerians, particularly Christians, to express gratitude for the arrival of the Christmas season despite the many challenges and hardships confronting the nation.
“It is a blessing that we can once again celebrate the events leading to the birth of Christ, despite the adversity we face,” he stated.
Akpabio, Deputy, Southern Senators
President of the Senate, Senator Godswill Akpabio; his deputy, Jibrin Barau; southern senators and their colleagues from other parts of the country, felicitated Christians as they celebrated the anniversary of the birth of Jesus Christ.
They urged the Christian faithful in Nigeria to use the occasion of Christmas as an avenue to exude peace, love and unity.
Akpabio, in a Christmas message signed by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh, said the festive period called for celebration and reflection.
He stated, "In the spirit of the season, I encourage you all to spread love, kindness, and generosity. Let us remember those in need and offer a helping hand as much as possible.
"As we gather with family and friends, let us also remember the true essence of Christmas: peace, love, and unity. May these values guide us as we strive to build a better Nigeria for all."
Barau, in a statement by his media aide, Ismail Mudashir, urged all citizens to intensify prayers for the country's peace, unity and progress.
He appealed to Nigerians to remain hopeful and steadfast in their collective pursuit of a brighter and more prosperous country.
He expressed optimism that the 2025 budget presented by President Bola Tinubu to the National Assembly on December 18 had the potential to transform the country’s fortunes if fully implemented.
In a statement signed by its Chairman, Senator Tokunbo Abiru, Southern Senators Forum extended members’ warmest greetings and best wishes to all Christians.
The southern senators stated that Christmas symbolised love, hope, and renewal.
The statement said Christmas “reminds us of the enduring power of faith and unity to overcome challenges and build a brighter future.
“As we celebrate, let us embrace the spirit of the season by spreading joy, sharing with those in need, and fostering peace in our communities”.
Senator Akpoti Uduaghan, in a statement by her media aide, Arogbonlo Israel, extended her “warmest greetings to the wonderful people of Nigeria, especially the resilient men, women, and children of our great nation”.
Chairman of Senate Committee on Appropriations, Senator Solomon Adeola, in a statement by his media aide, Kayode Odunaro, called on all Christians to reaffirm their faith in Jesus Christ.
Adeola urged Christians to pray for a better Nigeria as the gains of the reformist Renewed Hope Agenda of the present administration began to manifest.
Babajide Sanwo-Olu
Lagos State Governor, Mr Babajide Sanwo-Olu, rejoiced with residents of the state, particularly the Christians, as they joined the rest of the world to celebrate this year’s Christmas, which marks the birth of Jesus Christ.
Speaking at the Lagos House, Marina, during the presentation of a book, titled, “Beyond Rhetoric: SanwoOlu Unprecedented,” written in his honour by Lagos State Governors Office Correspondents (LAGOCO), Sanwo-Olu assured that his administration would do more for Lagos residents next year.
"We wish you all the very best of the season. We say to you that next year, we will work better, smarter, bigger for the citizens of Lagos," he said.
Peter Mbah
Enugu State Governor, Dr. Peter Mbah, congratulated the Christian faithful on the occasion of Christmas.
Mbah urged the people of Enugu State and Nigerians, in general, to embrace love, peace and unity as they commemorated the birth of Christ, describing the virtues as the real essences of Christmas.
In his Christmas message to the Christian faithful, released on Tuesday, Mbah equally emphasised the importance of peaceful coexistence in nation building.
He acknowledged the socioeconomic challenges faced by the country at the moment and encouraged Enugu residents and Nigerians to extend a hand of love and kindness to one another, especially to those in need.
He assured that government policies would eventually deliver the much needed succour and economic restoration.
According to Mbah, “The message of Christmas is one that speaks to the exigencies of every moment. It enjoins us to show love and empathy to all.
“As Christians across the world celebrate the birth of Jesus Christ, may the message of joy inherent in Christmas radiate in our lives and in our dear nation.
“When we imbibe the true message of Christmas – love, peace, and unity – we will see no divisions, but a common thread of humanity.”
The governor added, “Being an end-of-year festivity, Christmas is
often an auspicious time to re-dedicate ourselves to the virtues of peace, patriotism and love.
“I pray that the joy of Christmas be a source of comfort for those who grieve and an eternal flame that lights our path as a nation.”
Abdulrahman Abdulrazaq
Kwara State Governor Abdulrahman Abdulrazaq called on the Christian faithful to let the lessons of the Christmas celebration guide their lives and interactions with fellow human beings.
A statement by the governor’s Chief Press Secretary, Rafiu Ajakaye, said, "The season is a celebration of the birth of Jesus Christ, a key event in human history through which a bright light of God was shone to the world."
Abdulrazaq urged Kwarans to reflect upon the season and let the lessons guide their lives and interactions with fellow citizens.
Dapo Abiodun
Ogun State Governor Dapo Abiodun, while felicitating Christians on this year's Christmas celebration, called on Nigerians to look beyond the present economic challenges and be optimistic of a better tomorrow.
Abiodun, in his Christmas message to the people of the state, said there was certainly light at the end of the tunnel for all Nigerians.
He also admonished residents of the state to exhibit a high sense of tolerance, irrespective of religious differences, as a way of entrenching harmony and sustainable peace among themselves.
The governor emphasised the need for all Nigerians to rededicate themselves to the growth and development of Nigeria and to be more patriotic.
Nyesom Wike
FCT Minister, Nyesom Wike, urged total rededication to the service of the Almighty God and submission to His laws among residents of Abuja.
Wike made the call in a statement by his Senior Special Assistant on Public Communications and New Media, Lere Olayinka.
He stated, “Since Jesus Christ, whose birth is the reason for the celebration of Christmas, obeyed the commandments of God, Christians, too, must keep the commandments, especially by showing love to people around us and teaching others to do the same.”
The minister expressed confidence that things will keep getting better with the Renewed Hope Agenda of President Bola Tinubu.
Godwin Obaseki
Former governor of Edo State, Godwin Obaseki, while felicitating the Christian faithful, said Christmas presented an auspicious opportunity to show love and reflect on the life and teachings of Jesus Christ.
“As we all celebrate, let's continue to spread the message of unity, love, and peaceful co-existence, as demonstrated by Jesus Christ. I wish you all a very Merry Christmas,” he stated.
Bauchi State Government
Bauchi State Government approved
the purchase and distribution of food items worth millions of naira to Christian communities across the state as part of efforts to support them during the Christmas celebration.
Chairman of the Standing Committee for the Distribution of the Items, Mr. Abdon Dalla Gin, while addressing journalists in Bauchi, said the development reflected government's commitment to fostering inclusivity among diverse religious groups in the state.
Gin said the distributed items included 77 bulls, 139 rams, over 1,500 bags of rice, and 178 jerry-cans of vegetable oil.
He commended Governor Bala Mohammed for the kind gesture and urged the Christian faithful to reciprocate by supporting the policies and programmes of his administration. Mohammd Bago
Niger State Governor, Alhaji Mohammed Bago, charged Christians to continue to pray for the peace of the state and Nigeria, in general.
Bago made the advice in his message to mark this year's Christmas in which he also appealed to the faithful to show love to their neighbours.
In the message by his Chief Press Secretary, Bologi Ibrahim, the governor stated that through prayers and love for one another Niger State and Nigeria will grow to the expected level
Bassey Otu
Cross River State Governor, Bassey Otu, conveyed heartfelt gratitude to the citizens for their unwavering support and commitment to the state's development.
Acknowledging the economic challenges faced by individuals and families nationwide, Otu emphasised that the difficulties were not unique to Cross River State.
In his Christmas message, the governor stressed that his administration aligned with President Bola Tinubu's Renewed Hope Agenda.
Sheriff Oborevwori
Delta State Governor, Hon. Sheriff Oborevwori, in a statement by his Chief Press Secretary, Sir Festus Ahon, took a moment to reflect on the significance of the season, emphasising its deeper meaning beyond the celebrations.
Oborevwori extended his warm wishes to all Deltans and other Nigerians as they marked the birth of Jesus Christ.
He described Christmas as a time to embrace love, peace, and harmony, and called on everyone to set aside primordial divisions and focus on the collective progress of the country.
"Christmas is not just a time for merriment; it is a season of reflection and renewal," the governor stated.
Ovie Omo-Agege
Despite the lingering economic challenges facing Nigeria, the immediate past Deputy President of the Senate, Senator Ovie Omo-Agege, affirmed his conviction that the economy was already turning the corner and returning to prosperity.
In his Christmas message, Omo-
Agege acknowledged that the recent reforms introduced by the federal government had caused hardship for many Nigerians.
He, however, stated that the economy was already witnessing positive gains, including improved growth rates.
Ola Olukoyede
Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, expressed hope of a greater and better Nigeria, devoid of economic and financial crimes and other acts of corruption.
Olukoyede gave the assurance in Abuja, while congratulating Christians as they marked the birth of Jesus Christ.
In a statement by Head, Media and Publicity, EFCC, Mr Dele Oyewale, the EFCC boss stressed that the light, joy, hope, truth and liberty that Christ brought to the world were significant drives towards zero tolerance for corruption and reform-minded pursuits.
Globacom
Telecommunications giant, Globacom, felicitated Nigerians on the 2024 Christmas celebrations, calling on them to show love to one another during the festive season.
In a goodwill message in Lagos, the company stated that the prevailing economic challenges in the country had made it imperative for Christians to practise the teachings of Jesus Christ by loving and caring for their neighbours even more.
"Christ taught many virtues, including obedience to God and loving one’s neighbour as oneself,” Globacom said, adding, “Now is the apt time to practise these teachings by sharing with the needy."
Chris Ngige
Former governor of Anambra State and two-time Minister of Labour and Employment, Senator Chris Ngige, urged Nigerians to use the occasion of Christmas to offer prayers to God to help the country overcome its present challenges.
In his message, Ngige urged Christians, in particular, to use the period of the commemoration of the birth of Jesus Christ to pray fervently for the country to overcome its present challenges, no matter how difficult they might appear.
According to him, the holiness and solemnity of the period also offers an opportunity for quiet reflection by Nigerians on their individual lives and the life of the country.
Siminalayi Fubara
Rivers State Governor, Siminalayi Fubara, extended warm Christmas greetings to the people of the state and Nigerians, in general, urging them to embrace peace, unity, and love during the festive season and beyond.
In his Christmas message delivered at Government House, Port Harcourt, Fubara congratulated Christians in Rivers State and across the country as they joined the global community in celebrating the birth of Jesus Christ.
He called on citizens to use the occasion for deep reflection, prayer, and commitment to building a more peaceful, united, and progressive society. The governor, again, approved the sum of N100,000 for civil servants, public servants and pensioners in the state, to enable them have a fulfilled Christmas celebration.
The Catholic Church in Nigeria encouraged the Christian faithful to exhibit humility and compassion, and desist from celebrating Christmas in affluence.
In a message by the Catholic Secretariat of Nigeria, the church asked people to celebrate with a sense of moderation It stated, "We must remember that many go to bed hungry every night, some with no roof on their heads, still others with no clothes to wear, not even enough water to drink for some. The suffering and plight of the human people is indeed real.
"Hence, we must not be caught up with affluence while other wallow in abject poverty and suffer great lack of basic amenities. Christmas is a time to share with others and live moderately.
"Moderation is key at this period, we must not be wasteful. This is a time to remember the poor, for to such Christ has come for. As a matter of fact, we all are because we are never complete.
“Yet, some are physically poor and these we must communicate Christ’s message of love, in our words and actions. When we do God’s will, more blessings come upon us. We are happy that many people are celebrating Christmas in a very moderate way, sharing what they have with the poor."
Benue State Governor, Hyacinth Alia, extended Christmas and New Year holidays for employees of the state government, even as he extended his warmest greetings and best wishes for the festive season.
Alia said Christmas, being a time for contemplation, gratitude, and family bonds, highlighted the importance of embracing love, unity, and service to others.
The governor acknowledged the dedication of the Benue State workforce in advancing programmes and projects for the state’s prosperity.
In agreement with the Benue State Executive Council, he extended the holiday period, starting from December 24, 2024, to January 6, 2025.
Northern Senators Forum
Northern Senators Forum (NSF) urged Nigerians to embrace love, peace, and harmony during the festive season. Chairman of the NSF, Senator Abdulaziz Musa Yar’adua, stated this in a statement yesterday in Abuja.
The statement said a Nigerians celebrated the birth of Jesus Christ, the season should remind citizens that the virtues of love, peace, and unity, which Christ embodied, “are essential in promoting unity and understanding among Nigerians, irrespective of their ethnic or religious backgrounds.
Rangers officials have said that they have "contacted the Scottish Football Association to express serious concerns and ask several questions" after the two Video Assistant Referees (VAR) at the League Cup final were reinstated for December fixtures.
SFA Head of Referee Operations, Willie Collum, had said Frank Connor and Alan Muir made a ''really, really poor'' and "unacceptable" decision not to award Rangers a spot-kick against Celtic in the final on 15 December, with the Bhoys winning the match on penalties after a 3-3 draw.
The incident in question was a pull by Liam Scales on Vaclav Cerny, when a free-kick was awarded.
Neither Connor, nor Muir, featured in Friday, Saturday or Sunday's top-flight games.
However, Connor will be one of the assistant referees for Kilmarnock v Aberdeen on Thursday and Celtic v St Johnstone on Sunday, while Muir will be on VAR duty for St Mirren v Dundee on Sunday.
"We also note one of the officials has been appointed to an SPFL Premiership match involving the club that benefited from the error," Rangers said in a statement.
"The Scottish FA's actions raise questions about their commitment to improving officiating standards and fostering accountability.
"While Rangers FC fully respects the independence of officiating ap-
pointments and the need for referees to operate without interference, how the Scottish FA handles such highprofile failures directly affects its credibility and public confidence.
"The decision to reinstate the officials so quickly, and in particular for a fixture involving the club which benefited from the mistake in question, has drawn widespread media scrutiny on the officiating failure and officials concerned. This
was both predictable and avoidable, and contradicts any stated duty of care from the Scottish FA towards their match officials."
Rangers said "mistakes do happen in football", but added: "How they are addressed matters enormously.
"We would urge the Scottish FA to demonstrate its desire to improve the quality and consistency of officiating and to do so in a transparent manner.
"We are not seeking to challenge
the authority of the Scottish FA or the integrity or independence of match officials, but to encourage improved standards and accountability. This is not about influence. It is about good governance.
"Rangers FC expects tangible steps to be taken and remains committed to holding the Scottish FA accountable in the interests of the game."
The SFA has been approached for a response.
Femi Solaja
A few days after surrendering his national title, Matthew Kuti has reclaimed his gong at the 10th Elicris Table Tennis Cup held at Molade Okoya-Thomas Hall of Teslim Balogun Stadium. Similarly,Hope Udoaka ruled the women’s singles. Kuti was dethroned by Abdulbasit Abdulfatai at the Daniel Ford tournament but the teenage sensation put the defeat behind him to rally from 2-0 down to beat Muiz Adegoke 4-2 in the men’s singles of the Elcris Table Tennis championship..
To emerge champion, Kuti won
4-2 (4-11, 6-11, 13-11, 11-5, 11-5, 12-10).
A delighted Kuti described the win as a good return to the top of the game in the country.
Earlier in the day, Udoaka of Cross River confirmed her dominance in the country after beating Sukurat Aiyelabegan 4-2 in the final of the women’s singles.
Despite winning the first game at 11-4, Aiyelabegan fell short of her dominance as she was humbled by her experienced opponent to concede defeat at 4-2 (4-11, 11-4, 14-12, 11-9, 13-15, 11-7).
For the sponsor, Yomi Adejobi, there are plans to expand the tournament with more players competing
in the next edition. “Our aim is to empower the young players and we believe with this kind of tournament we can identify talent and also nurture them to stardom,” he said.
The guest of honour, Gbenga Omotosho who is the Lagos State Commissioner for Information and Strategy, lauded the sponsor for bankrolling the tournament, adding that it is in tandem with the state’s Governor's vision for youth empowerment through sports. “We must thank the sponsor for this gesture and we hope other well-meaning individuals will take a cue from this and more young players will be empowered through sports,” he said.
Femi Solaja with agency report
Napoli officials have given the green light for Victor Osimhen to transfer in January.
His availability has already been made known to several Premier League clubs like Manchester United, Chelsea, Arsenal and Aston Villa, according to TBR Football
The striker’s price tag is 75 Million Euros or 60 Million Pounds.
There is a breakup clause in Osimhen’s loan deal to Turkish champions Galatasaray.
However, the player himself will have to sanction this early transfer after he had given his word to ‘Gala’ that he will not walk out on them next month.
Osimhen joined Galatasaray from Napoli on a season-long loan deal after failing to find a permanent move during the summer transfer window.
The Nigeria international was
frozen out of Antonio Conte’s squad over the summer amid links to Chelsea and Al-Ahli. But a sale failed to materialise before the window closed, and Osimhen instead joined the Turkish side on a temporary deal until the end of the 2024/25 campaign. There is no clause for Galatasaray to buy permanently. Also, there is an option for Osimhen to leave Galatasaray in the January transfer if a club activates his release clause.
Meanwhile, Super Eagles caretaker coach, Augustine Eguavoen, has undergone surgery in Belgium. SCORENigeria learnt that it was a major medical procedure that Eguavoen put off several times so as to guide the Super Eagles to qualify for the 2025 AFCON. In his absence, Remo Stars coach Daniel Ogunmodede has taken charge of the CHAN Eagles for a 2024 CHAN playoff against Ghana.
Organisers of the forthcoming maiden Newstap / SWAN FIVE STAR Sports Award said they'll this week announce names of eminent Nigerians that will receive their first award.
They stated this after reaching an agreement on the modalities to be used in selecting nominees for the award aimed at recognizing five eminent Nigerians that have contributed to the development of the country's sports ecosystem.
According to them, the award will not only be unique but different from similar awards which prompted them to limit it to only five persons.
"The award we want to organise will be a unique one. It's not going to be an all comers affair because we were meticulous in our selection. Those to be honoured have been carefully nominated and they are credible Nigerians doing well for our sports. By the time their names are announced, Nigerians will be proud with our choice of awardees,” they said.
Speaking on the award, the National President of Sports Writers Association of Nigeria, Isaiah Benjamin explained that the body decided to partner with Newstap Communications because of it's track record that is in line with the association's vision of recognizing those that have contributed to the country's sports development.
"We at SWAN are happy to collaborate with Newstap Communication because they have a good track record and vision that aligns with our plans of recognizing those that have made immense contributions in uplifting the country's sports.” In his remarks, Editor of Newstap Communication, Ifeanyi Eduzor explained that the forthcoming award will be the best of it's kind in the history of sports award in the country because it will be devoid of politics and sentiments positing that it is an award that is bestowed purely on merit.
The President of the Nigeria Pitch awards, Shina Phillips, has yet again described the death of veteran journalist, Dapo Sotuminu, as painful and very sad.
Phillips who doubles as the CEO of Lenders Consult International , was among the congregants at the Redeemed Christian Church of God (Garden of Peace) in Surulere, Lagos for the final burial service for the late former Sports Editor.
He said it was emotional for him to be in the midst of other mourners, adding the late Sotuminu would not be forgotten in a hurry.
“The truth is that I would have been very sad if I hadn’t made it here for the final burial rite of our dear brother, Dapo Sotuminu and I had to fly into Lagos and I’m happy that I made it here eventually,” Phillips said.
“Dapo is not just a friend from the media but I see him as a member of a big family because he was always around to honour our programmes at Nigeria Pitch awards and we can never forget
that.
“His memory would be with us forever and I was happy I was later introduced to the wife by our friend, Pius Ayinor.”
Speaking further, the progenitor of the longest running sports awards in the country, said he would do his best to rally round the family henceforth, adding Sotuminu served humanity in his life time.
“ Of course, we at the Nigeria Pitch Awards will always identify with the family,” he added.
Sotuminu who died in Lagos on November 20 after a brief illness, was prolific professional for the several decades and worked in several media houses including TNT Newspapers (Deputy Sports Editor), New Telegraph Newspapers (Deputy Sports Editor) and Compass Newspapers (Sports Editor). He also served as the Director of Communications of Nigeria Women Football League and Media Director of Access Bank Lagos City Marathon.
“Nigeria is looking up to us. We must do everything to defend democracy in Nigeria and across the sub-region. It is is a duty and a task for all of us to perform. Do not forget your responsibility to protect democratic governance and loyalty to constituted authority as it is non-negotiable” --Chief of Defence Staff (CDS), Gen. Christopher Musa, tasks the Military.
The popular saying, “The morning foretells the evening,” seems to defy logic in Nigeria’s case. The economy, which turned frosty after President Bola Tinubu introduced radical reforms 18 months ago, now appears to be thawing rather than worsening, contrary to the predictions of critics.
Rather than witnessing a continued decline in living standards, as many feared, Nigeria seems to be gradually recovering from decades of stagnation. The current glimmers of hope—despite the widespread discontent initially caused by Tinubu’s reforms, such as the removal of petrol subsidies and the unification of multiple foreign exchange rates, which led to a sharp naira devaluation—suggest that the hardships Nigerians endured may finally be easing.
The steady improvement in the economy, driven by the president’s Renewed Hope agenda, appears to validate the Machiavellian notion that “the end justifies the means.” That is because the once-frozen economy, disrupted by these difficult but necessary reforms, is now showing signs of recovery.
This progress may also reflect Nigerians’ gradual acceptance of the transition from a subsidy-dependent consumption economy to a production-based one. The assertion above is validated by the fact that by plugging longstanding financial leakages and laying the foundation for harnessing untapped economic potential, the administration is driving a paradigm shift that promises to benefit Nigeria in the long term.
What the above scenario indicates is that, the Renewed Hope agenda, though painful in the short term, seems to be yielding lasting benefits as Nigerians adjust to the adage “no pain, no gain,” and the criticisms that resulted in branding Tinubu as “T-Pain” early in his administration are waning. In fact, increasingly, people are beginning to appreciate the broader vision behind President Tinubu’s policies and their potential to serve the majority’s interests over time.
This shift in public perception is evident in the stabilizing sociopolitical and economic landscape. For instance, the naira-to-dollar exchange rate, which had reached a staggering N1,750/$1, has improved to roughly N1,600–N1,650/$1. This movement is closing in on the N1,500/$1 target set by Tinubu in the 2025 appropriation bill presented to the National Assembly on December 15.
What makes these positive developments even more noteworthy is that they are happening less than 18 months into Tinubu’s presidency. While many anti-Tinubu politicians and citizens clamored for immediate results from his reforms barely a year into office, advocacy from some of us and the voices of the likes of Nobel Laureate Prof. Wole Soyinka, who called for patience and endured criticism as government sympathizers, have been vindicated.
Clearly, the early signs of recovery are evidence of the principle that reform outcomes require time to reach fruition. Hence in less than two years—often considered a reasonable benchmark for policy impact—Nigeria’s economic indicators are shifting. Like traffic lights, these signals are moving from red to amber, with the potential to turn green as Tinubu approaches his second year in office in May 2025.
Positive Socioeconomic Developments Indicate Progress Despite Initial Hardship
Recent socioeconomic improvements in Nigeria highlight the impact of a series of bold policy actions that hold significant potential to alleviate the hardships many Nigerians have endured due to reform-induced challenges. These developments,
signaling economic recovery, include:
•Reduction in pump prices for petrol and diesel.
•Strengthening of the naira against foreign currencies.
•Decline in religious insurgency and banditry.
•Decrease in herder-farmer clashes and overall insecurity.
•Significant reduction in crude oil theft, coupled with increased oil production and exports, boosting foreign exchange reserves.
•A rise in foreign direct investment, exemplified by Shell’s commitment to invest $5 billion in the Bonga deep-sea oil asset.
•Introduction of a N70,000 minimum wage for federal civil servants.
•Adoption of compressed natural gas (CNG) as a less expensive alternative to petrol and diesel for mass transportation.
•Establishment of the Nigerian Education Loan Fund (NELFUND) to enable indigent Nigerians to pursue higher education by covering tuition fees and living expenses, thereby democratizing access to education.
These positive indicators reflect President Tinubu’s commitment to managing Nigeria’s complex economy, which often defies conventional economic principles. However, it is important to acknowledge the significant sacrifices Nigerians have endured since the administration began implementing its reform agenda on May 29, 2023.
One of the most recent developments that offers hope is the announcement on December 18, 2024, of a N200 reduction in the price of diesel by Dangote Refinery, lowering the cost from N1,200 to N1,000 per liter. Similarly, last month, the refinery reduced the price of petrol (PMS) by N20 per liter.
Given the critical role of petrol and diesel in facilitating transportation, powering factories, and supplying electricity to homes and businesses, these price reductions are expected to positively impact the economy. While the immediate effects of these reductions are not yet apparent—evidenced by the latest Nigerian Bureau of Statistics (NBS) report showing inflation rising from 33.88% to 34.60%—their long-term benefits are anticipated to ease the economic burden on Nigerians.
In essence, while the price reductions in these essential commodities (PMS and AGO) are yet to fully translate into tangible benefits, they are expected to lower transportation costs and provide relief to Nigerians struggling under severe economic hardship. However, these benefits may take time to materialize, as some fuel stations have yet to adjust
their prices to reflect the reductions announced by Dangote Refinery.
Once the price adjustments are fully implemented, subsequent NBS reports may capture a downward trend in inflation rates. For now, food inflation remains high, driven by rising prices of staples such as onions, tomatoes, and peppers. These increases can be attributed to seasonal demand during the festive season, high transportation costs due to fuel price hikes, and other supply chain disruptions.
While these developments indicate progress, more time is needed for the full benefits of Tinubu’s reforms to materialize. Nevertheless, they offer hope for greater economic stability and relief for Nigerians in the near future.
Key drivers of Nigeria’s current high food inflation include rising transportation costs, seasonal demand, and supply chain disruptions, which have made basic cooking ingredients unaffordable for many vulnerable Nigerians. However, as the reduced costs of petrol and diesel take effect, and with the festive season coming to an end, coupled with continued security improvements, inflation may see a significant drop by the first quarter of 2025. While it may not reach the 15% target set by the Director of Budget in the Presidency, my good friend Dr. Tanimu Yakubu, the concerted efforts of various government departments—from the Central Bank of Nigeria (CBN) to the Ministry of Finance—make it unlikely to remain at its current elevated levels.
Notably, Nigeria’s debt service ratio has dropped to 65%, down from 97% when President Tinubu assumed office 18 months ago, just as the globetroting allegations against President has been vitiated by the fact that lndian Prime minister Naranda Modi and German president Frank-Walter Steinmeier have reciprocated Tinubu’s visits.
These are heads of strategic countries that are major trading and technology partners and they were in Nigeria to discuss partnerships that would benefit our nation tremendously.
That said, some analysts have suggested wrongly or rightly that Dangote Refinery’s recent price cuts for petroleum products may be part of a competitive strategy against importers. Nonetheless, businesses with significant investments—such as Dangote, which staked $20 billion in a state-of-theart refinery—often start by charging high prices to recoup their investments. Similar trends were observed in Nigeria’s telecommunications sector, where companies spent heavily on cutting-edge technology and spectrum licenses, making SIM cards initially expensive before prices dropped significantly. With additional refineries, such as the NNPC facilities in Port Harcourt, Warri, and Kaduna, gradually resuming operations, fuel prices are expected to decline further, aligning with earlier assurances that l gave to the public that although in Nigeria we believe what goes up hardly comes down, petroleum prices will surely come down from their current high.
As we all can attest , efforts to stabilize the naira against foreign currencies have also gained traction. A bill to prohibit the use of foreign currencies for local transactions, such as school fees and rent, has advanced significantly in the National Assembly. Combined with increased local refining capacity of petroleum products, this measure is expected to reduce domestic demand for foreign exchange which hitherto channeled into fuel imports.
Notably, the CBN reported an increase in foreign reserves from $38.3 billion in September to $40.08 billion by November 7, 2024. This boost, the highest
in two years, provides sufficient coverage for nine months of imports and supports further currency stabilization.
Overall, President Tinubu’s bold economic policies, such as subsidy removal and currency devaluation, have spurred these positive changes. Despite the immediate hardships, these reforms are beginning to yield results, with further momentum anticipated from recently proposed tax reform bills currently under review in the National Assembly. These initiatives suggest a comprehensive approach to economic reform, unlike past efforts, such as the introduction of Structural Adjustment Program (SAP) in mid 1980s under Gen. Ibrahim Babangida, which adopted a piecemeal approach. If the current reforms are managed effectively, these policies that l had coined “Tinubunomics” but did not go down well Aso Rock Villa, could provide long-term relief for Nigerians. The concept of “Tinubunomics” was a focus when Tinubu’s economic policies were reviewed on 8th May during the launch of my book, Leading From the Streets: Media Interventions by a Public Intellectual, 1999–2019. At the event, the theme “Tinubunomics: What’s Working, What’s Not, and Why” was explored and it generated a heated panel discussion. One panelist vexatiously claimed the economy was in “the red,” and the statement went viral. Today, it is unlikely that the same claim would be made, as the unfolding effects of the reform measures indicate long-term potential for recovery and relief.
On the sociocultural front, Tinubu has taken steps to address allegations of marginalization and promote inclusivity. For instance, renaming the National Arts Theatre after Professor Wole Soyinka which drew critism with those against it alledging nepotism and the naming of University of Abuja after General Yakubu Gowon, an Angas man from north central Nigeria zone underscores a commitment to equity and merit. Similarly, the appointment of Sylvester Nwakuche, an Igbo man, as Acting Controller General of Immigration highlights Tinubu’s efforts to correct perceived ethnic imbalances in federal appointments.
In addition to that, the recent release of some Igbo youths detained for IPOB-related offenses signals a thawing relationship between the federal government and Biafran agitators.
To further cement national unity, Tinubu could consider releasing IPOB leader Nnamdi Kanu as a gesture of goodwill during the yuletide season. Such a move could resonate with the Igbo community, much like Muhammadu Buhari’s posthumous honor for MKO Abiola in 2018 by changing democracy day from 29 May to 12 June the day the presidential election was presumably won by MKO Abiola but was annuled by the military, won acclaim from the Yoruba people. Looking ahead, 2025 holds promise for economic recovery and sociopolitical stability, provided Tinubu remains committed to his reform agenda and he woos and receives more support from a broader spectrum of Nigerians. Frankly, as the nation navigates these challenging times, there is hope that brighter days lie ahead.
On that note of optimism, I wish Nigerians and readers worldwide a Merry Christmas and a prosperous New Year.
•Magnus Onyibe is an entrepreneur, public policy analyst, author, democracy advocate, development strategist, alumnus of the Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government (2003–2007).
For further discussions, please visit www. magnum.ng.