MONDAY 10TH AUGUST 2025

NEPC: Nigeria's Non-oil Exports Rose

19.5%, Hit $3.22

Says nation exported 663m metric tons of products within West Africa Insists FG expanding market access amid US tariffs

Emmanuel Addeh and James Emejo in Abuja Nigerian Export Promotion

Council (NEPC) said the country exported non-oil products valued at $3.22 billion in the first half of 2025,

representing a 19.59 per cent increase compared to $2.69 billion recorded in the same period in 2024.

Executive Director/Chief Executive officer of NEPC, Nonye Ayeni, in a statement by the organisation yesterday,

stated

period last year. Ayeni stated, “I am pleased

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To Cut Cost, FG Launches N100bn Initiative to Power Public Institutions with Solar Energy

Emmanuel Addeh in Abuja

Rural Electrification Agency (REA) signed a Memorandum of Understanding (MoU)

with Budget Office of the Federation, Infrastructure Corporation of Nigeria (InfraCorp), and Ministry of Finance Incorporated (MOFI), to mark the official

launch of National Public Sector Solarisation Initiative (NPSSI).

A statement in Abuja by the agency at the weekend described the N100 billion

initiative as a flagship government-led programme designed to accelerate the deployment of distributed solar energy solutions across Nigeria’s public

Lagos Got 58.5%

of

sector institutions, including schools, hospitals, security posts, government offices, among others.

At the core of the joint agreement, which took place

at the Budget Office of the Federation, REA said, was the urgent need to power critical infrastructure with

Electronic Money Transfer Levy in June

Revenue hits N183.7bn in H1 Stamp duty, EMTL rose to N221bn in six months FIRS begins electronic invoicing, fiscal system for large taxpayers

Emmanuel Addeh, James Emejo in Abuja and Peter Uzoho in Lagos

Lagos State received 58.5 per cent of all collections from the country's non-import Electronic Money Transfer Levy (EMTL) revenue in June 2025, a presentation made by the Federal Inland Revenue Service (FIRS), confirmed by the Central Bank of Nigeria (CBN) at the July Federation Account Allocation Committee (FAAC) meeting has shown.

A THISDAY analysis of data from the meeting showed that total non-import EMTL collections for June stood at N30.3 billion, up N1.55 billion or 5.41 per cent from May’s N28.8 billion. Continued

MIXTA AFRICA’S ANNUAL GENERAL MEETING...

L-R: Executive Director/Chief Financial Officer, Mixta Africa, Benson Ajayi; CEO, Deji Alli; Chairman, Dapo Oshinusi; Company Secretary, Funmi Olofintuyi; Non-Executive Director, Monica Musonda, and Non-Executive Director, Larry Ettah, during the company’s Annual General meeting in Lagos…recently

Niger Inaugurates Largest Shea Butter Plant in Africa

Laleye Dipo in Minna

A 30,000 metric tonne per year Shea butter plant described as the largest in Africa has been unveiled in Kudu town of Mokwa Local Government Area of Niger State

The inauguration of the plant was performed by Governor Mohammed Umaru Bago who was flanked by the Minister of State for Agriculture Alhaji Sabi Abdullahi, the Etsu Nupe Alhaji Yahaya Abubakar, NEXIM Bank’s Chief Executive Officer, Alhaji Abba Bello, former Governor

In all, in the first half of 2025, the records showed an aggregate of N183.7 collected through the EMT levy, which when paired with N37.3 billion from stamp duty, brought combined receipts for January to June to N221 billion.

The EMTL is a charge imposed in Nigeria on bank transfers of N10,000 and above, whether the transfer is between individuals, businesses, or both.

It is a flat N50 levy per qualifying transfer, introduced under the Finance Act 2020 to replace the earlier stamp duty charge on electronic receipts. The CBN and commercial banks collect it on behalf of the FIRS.

It’s a non-oil revenue source for the government, with proceeds shared among the three tiers of government (Federal, State, Local) via the Federation Account, using a derivation formula based on where the transaction originated.

The concentration of June collections in Lagos was striking, but not surprising, with the state alone accounting for N17.7 billion

to inform you that non-oil products exported in the first half of 2025 were valued at $3.225 billion. This shows an increase of 19.59 per cent as against the sum of $2.696 billion recorded for the first half of the year 2024.”

She attributed the growth to several factors, including a significant increase in global demand for Nigerian products, wider market access, and tariff relief provided under the African Continental Free Trade Area (AfCFTA) agreement.

According to her, the council-led export intervention programmes, such as capacity building on quality and standards, packaging and labelling, export documentation and certifications, also contributed to the increase.

clean, reliable energy, while moving away from diesel dependence and reducing the public sector’s carbon footprint.

It said the signing ceremony for the NPSSI not only strengthened the alliance and collaboration between the government and the private sector in the energy sector but also aimed to advance the country's drive for localised renewable energy infrastructure and reverse unsustainable energy financing mechanisms.

Managing Director/Chief Executive of REA, Abba Aliyu, stated that NPSSI was part of a broader strategy to position Nigeria as the renewable

of Bayelsa State and Minister of State Petroleum Resources, Mr. Timipre Sylva. The multi-million Naira project established by a private organisation, Salid Agriculture Nigeria Limited, was funded by Nexim Bank.

According to Ali Saidu owner of the plant, it's unveiling is the first step towards the upscaling of the plant to a 400 metric tonnes per day Shea butter refinery which would enable it meet rising global demand for the product.

Unveiling the plant, Governor

of the total monthly pool. The index figure attached to Lagos in the state breakdown underscored its overwhelming share and corroborated why it dominates revenue flows derived from digital transactions.

By contrast, the Federal Capital Territory (FCT) came a far second position, collecting about N1 billion or 3.32 per cent; Rivers got N892.5 million or 2.94 per cent; Anambra N866.41 million or 2.85 per cent and Delta N796.6 million, approximately 2.62 per cent. No other single state reached more than a mid-single digit share of the national total.

The pattern is consistent with a larger economic geography. Lagos is Nigeria’s financial and commercial hub, hosts the bulk of formal business activity, payment gateways and fintech volumes, and serves as the clearing point for many digital transactions that are captured by the EMT mechanism.

Besides, the structural reality produces large monthly

Other drivers, according to Ayeni, included a rise in value-added exports, as more Nigerian exporters adopted value-addition practices, as well as growing demand from emerging economies, such as India, Brazil, Vietnam, and some African countries.

Ayeni stressed that in the first half of 2025, Nigeria exported 236 different products, representing an increase of 16.83 per cent from the 202 products recorded in the same period of 2024. She said the products ranged from agricultural commodities, extractive industries, and manufactured as well as semi-processed products. She added, “However, it is pertinent to state here that the non-oil export of Nigerian products is gradually

energy hub of Africa, while promoting innovation, local manufacturing, and sustainability in energy infrastructure financing in Nigeria.

Aliyu stated, “What makes this truly remarkable is the collaborative spirit behind it. We are witnessing a new era of inter-agency synergy, driven by creativity, fiscal responsibility, and a shared determination to reduce the cost of governance while meeting our national energy transition goals.”

He added, “At its core, this initiative was birthed from a strategic national priority: the urgent need to power critical infrastructure with

Bago described the project "as a major step in positioning Niger State as the global hub for shea butter production".

Bago announced the signing of a ₦2 billion Memorandum of Understanding (MoU) between Niger Foods and the company to provide women and youth with direct employment opportunities in shea nut harvesting and supply.

“This plant represents the beginning of a new era for Niger State, one where we add value to our natural resources, create jobs, and drive economic prosperity

remittances for Lagos, but also creates policy and political dilemmas. THISDAY's checks showed that June's overall uptick in EMTL receipts was a modest but positive sign, with the month’s total close to the six-month average monthly intake of N30.622 billion.

Another noteworthy feature of the mid-year accounts was the behaviour of stamp duty. Stamp duty receipts for May were exceptionally large at N11.907 billion, representing nearly 31.9 per cent of the six-month stamp duty aggregate of N37.341 billion.

From a macro perspective, the January–June totals showed that the EMT levy is a substantial and steady source of revenue, roughly N183.7 billion in six months, or an annualised rate that would make it a significant contributor to non-oil receipts if sustained.

On the other hand, the stamp duty component, while much smaller in aggregate, could swing sharply month to month and therefore complicates short-term

diversifying from traditional agriculture exports to semiprocessed/manufactured products.”

Speaking on the company's performance, Ayeni said Indorama Eleme Fertiliser and Chemical Limited, and Starlink Global and Ideal Limited retained their positions as the top two exporters, with 11.92 per cent and 8.82 per cent of total exports, respectively.

According to her, Dangote Fertiliser Limited ranked third with 6.39 per cent, driven by a strong sale of fertilisers and cocoa products.

She also stated at Nigeria exported products worth 663 million metric tonnes to 11 ECOWAS countries in the first half year of 2025.

Ayeni explained, “In the

clean, reliable energy, while moving away from diesel dependence and reducing the public sector’s carbon footprint.”

According to him, phase zero of NPSSI is fully funded by the federal government to the tune of N100 billion, while subsequent phases will harness innovative and blended financing models, leveraging private capital from both local and international long-term funders, all under structures that eliminate sovereign guarantees and contingent liabilities.

Equally speaking at the event, Director General of Budget Office of the

in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu,” Governor Bago said, urging the host community to protect and support the investment.

NEXIM Bank’s Chief Executive Officer, Mr. Abba Bello, revealed that Nigeria accounts for 60% of global shea nut production but lacked large-scale industrial processing facilities until now.

Mr. Bello pledged that NEXIM will continue its collaboration with private organisations to develop the full shea value chain, before

revenue forecasting.

A breakdown showed that in January, approximately N4.4 billion was collected for stamp duty, while 21.4 billion was received by the federation for the N50 levy to arrive at N28.88 billion for that month, while in February stamp duty was N8.3 billion and EMTL was N36.63 billion, to hit N44.95 billion for the month.

In the same vein, in March, stamp duty collected was about N4.38 billion and EMTL was roughly N26 billion to reach N30.39 billion. Besides, in April, stamp duty collection was N5.45 billion and electronic transfer levy was N40.48 billion, to reach about N45.94 billion.

Besides, in May stamp duty receivables was N11.9 billion and EMTL was N28.8 billion, totalling N40.72 billion, just as June's stamp duty collection was N2.79 billion and electronic levy was put at N30.3 billion, to hit N33.1 billion.

For the month of June under

same vein, Nigeria exported 488 million metric tonnes of products worth $83.538 million to 21 African countries outside ECOWAS. This is reflecting an increase of 2.59 per cent of the total export value as compared to 1.96 per cent for the same period of 2024.

“It also lends credence to the fact that the AfCFTA holds the key to intra-African trade. Indeed, Nigeria’s active participation in the AfCFTA is a testament to the significant opportunity it offers to exporting companies, also Small Medium Enterprises (SMEs).”

She stated that the effort would help to boost regional trade and drive economic growth across the African continent, commending the Ministry of Industry, Trade and

Federation, Dr. Tanimu Yakubu, emphasised the significance of the initiative in addressing Nigeria’s long-standing energy gap and strengthening the fiscal efficiency of public sector operations.

Yakubu explained that the “solarisation” initiative had become a necessity, stating that NPSSI will provide an added opportunity to optimise the demonstrated ability of public institutions to pay for clean, sustainable energy, which the capital market needs to ensure bankability.

MD/CEO of InfraCorp, Dr. Lazarus Angbazo, also hailed the initiative as a model for the future of infrastructure

disclosing that four additional processing plants would be established nationwide, with two of them to be located in Niger State.

The Minister of State Agriculture and Food Security, Alhaji Sabi Abdullahi described the establishment of the shea nut processing plant as "a huge agricultural investment" and applauded the approach of the Niger governor in transforming agriculture in line with the vision of President Bola Ahmed Tinubu.

consideration, the least collectors were: Jigawa with N91 million in June; Gombe with N98.2 million and Zamfara state, which collected N104.7 million.

Also, FIRS yesterday announced the commencement of an electronic invoicing solution (e-invoicing) aimed at revolutionising tax payment in the country.

The e-invoicing system, also known as the Merchant-Buyer Model, is aimed at making tax compliance easier, faster and more transparent for all categories of taxpayers.

This was disclosed by the Special Adviser on Media to the FIRS chairman, Mr. Dare Adekanmbi, in a statement. He said the e-invoicing solution went live on August 1, following a successful pilot phase which began in November 2024.

Under the initiative, large taxpayers - companies with annual turnover of N5 billion and more, are expected to be the first to be onboarded on

Investment on its commitment to ensuring that Nigeria becomes a hub and a major player in economic development.

Ayeni said in the period under review, a total of 29 banks participated in processing export transactions.

She stated, “A total of 10,214 Nigeria Export Proceed Forms (NXPs) were opened through these banks for non-oil exports with Zenith Bank Plc leading the pack with 31.98 per cent of the total NXPs for non-oil export.

“First Bank Nigeria Plc and Guaranty Trust Bank Plc came second and third, with 12.44 per cent and 11.47 per cent, respectively.”

Ayeni stated that a total of 18 exit points were used in exporting non-oil products

financing in Nigeria.

Angbazo said, “For decades, the sector has relied solely on public financing,” explaining, “While government is indispensable, government is not enough to solve the energy challenge.”

He said there was a need to optimise the federal government’s NPSSI as a pathway to drive localisation of energy capability and supply chain integration.

the digital platform. He pointed out that in less than two weeks of the initiative going live, no fewer than 1, 000 companies, representing 20 per cent of over 5, 000 eligible firms, had so far embraced the solution and commenced integration with the FIRS MBS platform. The remaining large taxpayers are expected to onboard on or before November 1- the deadline for all the firms in the category to finalise their onboarding and integration processes.

The statement added, “MTN Nigeria became the first taxpayer to transmit live electronic invoices to the FIRS, officially ushering in the e-invoicing regime.

"Huawei Nigeria and IHS Nigeria have also concluded test transmissions and are set to go live in the coming days.

“In collaboration with the National Information Technology Development Agency (NITDA), Service Providers have been

from Nigeria during the period under review.

She said the exit points included eight seaports, three international airports and seven land borders, adding that 94.15 per cent of the total non-oil exports were routed through seaports.

The NEPC boss said during the period under review, the council organised over 252 capacity building programmes, with a total of 27,352 participants across the country.

“We also carried out training in the area of Good Agricultural Practices (GAP), Good Warehousing Practice (GWP), Good Manufacturing Practice (GMP), packaging and labelling, among others,” she stated.

In his remarks, the MD of MOFI, Dr. Armstrong Takang, who was represented by Dr. Femi Ogunseinde, MOFI’s Chief Investment Officer, explained that Nigeria's energy mix had historically been unfairly weighed on fossil fuel, which was expensive to sustain. He said, “We must not underestimate the importance of creating business models that drive down the cost of power while expanding access. We must now chart a new course, one that de-emphasises the use of sovereign guarantees, domestically anchored and investment-ready.”

REA is the implementing agency of the federal government under the Ministry of Power tasked with the electrification of unserved and underserved communities to catalyse economic growth and improve quality of life for Nigerians.

AT EXECUTIVE EDUCATION TRAINING PROGRAMME FOR AFRICAN LEADERS...

Energy Commission: Nigeria Requires 35,000MW, Not Current 6,000MW to Ensure Reliable Power Supply

Explains export of electricity to Benin, Togo, others despite shortfall in-country Says electricity supply rose by 2,000MW under Tinubu

Emmanuel Addeh in Abuja

The Energy Commission of Nigeria (ECN), said at the weekend that the roughly 6,000 megawatts currently supplied by Nigeria's electricity value chain was insufficient to ensure reliable power, stressing that to ensure 100 per cent reliability, the country must produce at least 35,000MW.

Speaking with Channels Television, the Director General of the ECN, Mustapha Abdullahi,

noted that although Nigeria is not where it ought to be, it has however raised supply from 4,000mw to 6,000mw within a short period of two years.

“Though we are not where we ought to be, we are somewhere very strategic. Presently, out of 230 to 240 million Nigerians, only about 85 million Nigerians do not have access to electricity. That’s a lot, but 60 per cent of Nigerians have access to electricity.

“Our electricity generation

used to be 4,000 megawatts before 2023, but right now, we are generating, transmitting and distributing 6,000 megawatts to households. That’s 2,000 more megawatts than what we used to have two years ago. Yes, we’re not there yet, but our policies and vision will get us there,” Abdullahi stated.

Abdullahi blamed incessant interruption of supply on infrastructure, stressing that transmission lines are ‘very bad’, but that the country is currently

focused on diversification of its energy sources to give Nigerians other options.

Specifically , he explained that while gas and hydro power sources have always dominated, Nigeria has a lot of solar energy, highlighting the recent Electricity Act, which has decentralised the grid.

“States can generate, distribute, and regulate their electricity. So that’s a big one. We believe that in five to six years, we will get it right with

Russian President insists on bilateral talks Ukraine fears Putin will seek to dictate terms Emmanuel Addeh in Abuja

Ukrainian President Volodymyr Zelenskiy won diplomatic backing from Europe and the North Atlantic Treaty Organisation (NATO) alliance yesterday ahead of a Russia-US summit this week where Kyiv fears President Vladimir Putin and President Donald Trump may try to dictate terms for ending the 3-1/2-year war.

Trump, who for weeks had been threatening new sanctions against Russia for failing to halt the war, announced instead on

Friday that he would meet Putin on August 15 in Alaska.

A White House official said Trump is open to Zelenskiy attending but preparations are underway for only a bilateral meeting, a Reuters report said.

But Russian strikes injured at least 12 in Ukraine's Zaporizhzhia region, the country's foreign affairs ministry said on Sunday. Zelenskiy, responding to the strike, said, "That is why sanctions are needed, pressure is needed."

The Kremlin leader last week ruled out meeting Zelenskiy, saying conditions for such an

encounter were "unfortunately still far" from being met.

Trump said a potential deal would involve "some swapping of territories to the betterment of both (sides)", compounding Ukrainian fears that it may face pressure to surrender land.

Zelenskiy said any decisions taken without Ukraine will be "stillborn" and unworkable. On Saturday the leaders of Britain, France, Germany, Italy, Poland, Finland and the European Commission said any diplomatic solution must protect the security interests of Ukraine and Europe.

"The US has the power to force Russia to negotiate seriously," EU foreign policy chief Kaja Kallas said on Sunday. "Any deal between the US and Russia must have Ukraine and the EU included, for it is a matter of Ukraine’s and the whole of Europe’s security," Kallas added.

EU foreign ministers will meet on Monday to discuss next steps, she said. NATO Secretary General Mark Rutte told US network ABC News that Friday's summit "will be about testing Putin, how serious he is on bringing this terrible war to an end".

Fleeing General Overseer Arrested in Lagos for Cross-border Drug Trafficking

Michael Olugbode in Abuja

A fleeing founder and General Overseer of The Turn of Mercy Church, Prophet Adefolusho Aanu Olasele (alias Abbas Ajakaiye), after months underground has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) for masterminding multiple shipments of illicit drugs into Nigeria.

A statement by the spokesman of the anti-narcotics agency, Femi Babafemi, said Prophet Adefolusho was arrested at his church located in Okun Ajah, Ogombo Road, Lekki area of Lagos on Sunday, 3rd August 2025, by NDLEA officers who waited for him since morning to conclude the Sunday worship service in the evening before moving in on him the moment he stepped out of

the church premises.

He noted the arrest came after he had evaded arrest twice and fled to Ghana to hide since June when operatives started trailing him following the seizure of two shipments of Ghana Loud, a strain of cannabis linked to him.

He said the first seizure of 200 kilogrammes of the psychoactive substance was made at Okun Ajah Beach on 4th June 2025 while

another consignment of 700 kilogrammes of same substance was recovered from his delivery van on 6th July 2025.

He was said to have admitted in a written statement, ferrying the illicit consignments through the waterways from Ghana into Nigeria, adding he had fled to the West African country to hide after he escaped arrest twice in the recent past.

the policy on the ground right now,” he assured.

According to him, one of the functions of the energy commission is to ensure that the states get it right in terms of giving access to electricity, noting that the organisation was part of the players that pushed for the Electricity Act of 2023 to ensure the decentralisation of electricity from the grid for states to generate, distribute, and also regulate their electricity.

“So, it’s a very big plus for the nation. Now, the reason you’ve seen slow action is because of capacity. For the states, it’s not easy to generate and to regulate

electricity, and that is where we come in to build the capacity of the states.

“We are to ensure that they have their policies, and ensure that we bring investors, because investment matters. Even when that policy is in place in the states, we ensure that we stimulate investors’ confidence because power generation projects cost a lot of money.

“The average power needed in every state is about 40 to 70 megawatts. So, the states are starting with five megawatts just as the pilot, just to show goodwill, and we hope to build on that.

WTO DG, Okonjo-Iweala, Backs African Tourism and Creative Economy Expo

Charles Ajunwa

Director-General of World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has thrown her support behind the upcoming Africa Tourism and Creative Economy Expo (AFTCREE) taking place in November in Abuja.

Okonjo-Iweala urged African nations to leverage the opportunity provided by the event to harness their cultural and creative assets for accelerated trade and economic growth.

In a letter dated July 24, 2025, personally signed and sent to Chief Executive Officer (CEO) of Afrocultour, organisers of the high-profile expo, Mr. Chuks Akamadu, Okonjo-Iweala wished the organisers a successful and impactful event.

She stated, “The theme of this Expo, ‘Optimising Africa's Comparative and Competitive Advantage for Accelerated Trade and Economic Growth,’ is timely and highly relevant.

“Africa is immensely endowed with cultural and touristic opportunities. Now is the time to leverage these

advantages to integrate more supply chains. At the WTO, we believe the future of trade lies in services."

The WTO DG, who is former Nigerian finance minister, expressed appreciation for the invitation to speak at the event, saying, "I look forward to engaging in the future."

The initiator of AFTCREE, Akamadu, in an interview with THISDAY, said the expo "is a timely response to the deplorable disparity in global trade where the entire continent, regardless of our tourism and creative industry assets and potential, contribute less than three per cent. This is beneath us.

"The expo is likewise designed to address the concerns of African nations and industry leaders who lament the current situation where the continent boasts of a paltry five per cent share of global tourism revenue valued at over $11 trillion. But without looking too far, the theme of the expo captures its very essence: 'Optimising Africa’s Comparative and Competitive Advantage for Accelerated Trade and Economic Growth'.

L-R: Professor James Robinson, Co-winner of the 2024 Nobel Prize for Economics and co-author of Why Nations Fail, and Professor Kingsley Moghalu, Founder, Institute for Governance and Economic Transformation (IGET) and author of Emerging Africa, both global thinkers, at an executive education training programme for African leaders in Rwanda… recently

SENATOR ASUQUO EKPEYONG'S PARENTS VISIT AKPABIO IN LONDON...

Oil Refiners: Importing 70% Fuels Despite 5m Bpd Crude Output Exposing Africa to Disruption Risks

Say Nigeria with refining capacity of 1.1m bpd still brings in tons of products Want sector derisked, $4 trillion domestic capital unlocked Advocate regional stockholding frameworks on the continent

The African Refiners and Distributors Association (ARDA), which aims to reduce energy poverty on the continent, has raised concerns over the continuous importation of petroleum products by African countries by up to 70 per cent, despite the production of 5 million barrels per day crude oil.

Describing the over-exposure as dangerous, the Executive Secretary of ARDA, Anibor Kragha, argued that a 30-day shortage would lead to fuel queues stretching across Lagos, Johannesburg, Kinshasa, Cairo, and Nairobi.

NECA Commends Tinubu’s Commitment to Retirees, Pensioners' Welfare

.Urges reconstitution of PenCom's governing body

Dike Onwuamaeze

The Nigeria Employers’ Consultative Association (NECA) has commended President Bola Ahmed Tinubu for his consistent interest in the welfare of retirees and pensioners across the country.

NECA said that Tinubu's disposition is a reflection of a deep recognition of the value of workers who have dedicated their productive years to building the Nigerian economy These views were stated by the Director-General of NECA, Mr. Adewale-Smatt Oyerinde, who described the president’s consistent attention to pension-related matters as “a strong signal of his administration’s dedication to social protection, economic dignity in retirement, and the long-term sustainability of our pension system.”

Oyerinde emphasised that one of the critical steps that would sustain Tinubu's commitment to the welfare of pensioners is timely reconstitution of the governing body of the National Pension Commission (PenCom) in full compliance with the Pension Reform Act. According to him, the absence of a fully functional governing body has implications for effective oversight, policy

direction, and the preservation of corporate governance within PenCom.

He said: “The pension industry thrives on trust, transparency, and sound governance.

"Ensuring that PenCom’s governing body is reconstituted promptly will safeguard these principles, uphold the law, and boost public confidence in the entire pension system.”

NECA also reaffirmed its longstanding commitment to the growth and development of the pension sector and pledged to continue working with government and other key stakeholders to strengthen pension administration in Nigeria.

Oyerinde said this would include advocating policies that guarantee safety of pension assets, expand pension coverage, and improve the welfare of both formal and informal sector workers in retirement.

He said: “As the umbrella body for organised business in Nigeria, NECA will remain a vocal advocate for a sustainable pension system that works for all. A strong pension industry is not just about retirement benefits — it is about economic stability, social cohesion, and intergenerational fairness,” the statement concluded.

In an article, Kragha warned that any supply disruption will lead to the grounding of planes in Africa, while trucks will be immobilised, hospitals left in darkness, cities in chaos, while the continent’s economic engine would grind to a halt within a matter of days.

“This isn’t a worst-case scenario exaggerated to cause alarm. It’s a strategic blind spot hiding in plain sight. Despite producing more than 5 million barrels of crude oil daily, the continent still imports over 70 per cent of its refined petroleum products. The truth is, this dependence leaves Africa dangerously overexposed.

“If imports were to stop, the collapse wouldn’t just be technical – it would be systemic. Today, Africa is deeply reliant on

fuel imports, leaving it exposed to shocks with immediate and far-reaching consequences,” he argued in a statement.

Calling for a concerted effort to ensure energy sufficiency in Africa, ARDA pointed out this situation would drive food inflation, blackouts, and economic paralysis, conditions ripe for political instability across the continent.

“Africa is rich in crude oil but suffers from a persistent lack of refining capacity. The continent hosts over 40 refineries, yet many are outdated, underutilised, or idle. Nigeria, Africa’s top oil producer, has a nominal refining capacity of 1.1 million barrels per day, including the new 650,000 bpd Dangote Refinery. Still, it relies on imports for over half its fuel needs.

“Across the continent, crude production outpaces refining. At the Congo Energy & Investment Forum, plans were announced to double the country’s crude output to 500,000 bpd, but the CORAF Refinery in Pointe Noire can currently process only 24,000 bpd, with a planned increase to 40,000 – far below potential despite proximity to key markets like the DRC.

“Meanwhile, demand is rising fast. Africa’s population is projected to hit 2.5 billion by 2050, with energy needs expected to double. This dependence on imported refined products undermines economic sovereignty, widens trade deficits, destabilises currencies, and impedes industrialisation. It also threatens the goals of the African Continental Free Trade

Area (AfCFTA) by reinforcing external dependencies rather than building internal resilience,” he stated. Addressing this imbalance, Kragha emphasised, requires a coordinated, continent-wide response, one he said that ARDA has already begun to shape. To avert the economic paralysis that a sudden halt in fuel imports would trigger, ARDA said it is leading a continental strategy focused on five pillars: Upgrading and scaling refining capacity through resilient, commercially viable projects, harmonising fuel specifications and regulations to unlock intra-African trade and attracting investment through transparency, bankable projects, and risk mitigation frameworks.

Dangote Refinery Begins Delivery of CNG Trucks for Fuel Distribution Initiative

Dangote Petroleum Refinery & Petrochemicals has commenced the receipt of 4,000 compressed natural gas (CNG) powered trucks, an integral part of its fuel distribution logistics programme set to start on August 15.

The company announced this in a statement issued yesterday, explaining that CNG trucks initiative was aimed to transform the fuel distribution landscape within Nigeria by reducing logistics costs and enhancing supply efficiency for customers.

It said the fleet of fuel tankers, being imported through Apapa Port, represents a significant capital investment estimated at N720 billion.

This expenditure underscores the company’s commitment to pioneering innovative

solutions as the world’s largest single-train refinery continues to expand its operational capabilities.

Dangote Refinery said the first consignment of trucks recently departed Apapa Port and was formally received at the refinery site in Ibeju-Lekki, Lagos, by Vice-President of Oil and Gas at Dangote Industries Ltd, Devakumar Edwin.

The company said the arrival was met with enthusiasm from refinery personnel and customers alike, many of whom were present to witness the tangible progress towards improved fuel accessibility.

It noted that members of the public who observed the convoy’s journey from Apapa to Ibeju-Lekki expressed commendation for Dangote’s proactive approach in addressing the chronic logistics challenges that have

long impeded the downstream sector.

Speaking on the rollout, Group Chief of Branding and Communication, Dangote Industries Limited, Mr. Anthony Chiejina, provided further insights into the implementation strategy:

“The commencement of the initiative marks a groundbreaking development in Nigeria’s fuel distribution network. Given the complexities inherent in global supply chains, the delivery of these specialised CNG-powered tankers is indeed commendable. This approach ensures that we maintain operational efficiency while scaling up the fleet.

“Our unwavering commitment to this programme is reflected in our ongoing collaboration with key regulatory bodies and stakeholders to facilitate

seamless deployment. We believe this initiative will significantly lower distribution costs and improve fuel availability for our customers nationwide", Chiejina said. He added that over the next six weeks, the refinery expects at least sixty shiploads of these trucks to arrive in the country.

According to him, this innovative distribution model is expected to catalyse efficiency gains across Nigeria’s downstream petroleum sector, fostering greater transparency, reducing transportation bottlenecks, and ultimately enhancing energy security for the nation.

In June, Dangote Petroleum Refinery revealed a landmark investment exceeding N720 billion to deploy 4,000 CNGpowered trucks across Nigeria for the nationwide distribution of petroleum products.

Peter Uzoho

Emmanuel Addeh in Abuja

L-R: Dr. Asuquo Ekpenyong; President of the Senate, Godswill Akpabio; Senator Gbenga Daniels; and Dr. (Mrs.) Iquo Ekpenyong, when the parents of Senator Ekpenyong paid a visit to Akpabio in London, yesterday

COURTESY VISIT TO CBN GOVERNOR...

After Delivering 128 Million Fertilisers to Nigerian Farmers, NSIA to Exit PFI November

MoFI to assume full control of presidential initiative, appoints ManCo sole manager of PFI-NPK operations

Francis and

Nigerian Sovereign Investment Authority (NSIA) said it planned to exit the co- management of Presidential Fertiliser Initiative (PFI) by November.

The decision came after a 10-year strategic direction of the PFI programme, where NSIA led the transformation of the country's previously moribund fertiliser blending landscape.

As a result, the authority is expected to formally hand over full

control of PFI to state-owned asset management company, Ministry of Finance Incorporated (MoFI).

The transition will bring to a closure the almost decade-long management of the agricultural programme by NSIA.

Between 2016 and July 2025, NSIA grew the number of operational blending plants from four to over 90, with over 128 million bags of blended high-quality fertiliser delivered to Nigerian farmers.

Managing Director/Chief Executive of NSIA, Aminu

Abuja set to Host Over 500 Global Investors at 2025 Business Investment Expo Focused on Emerging Markets

Over 500 high-level participants from 40 countries are set to attend this year's Abuja Business Investment Expo.

Convened by Abuja Investment Company Limited (AICL) with Minister of the Federal Capital Territory, Nyesom Wike, as chief host, the high-level event holds from October 22 to 25 at President Bola Ahmed Tinubu International Conference Centre, Abuja.

The annual gathering, which will feature top government officials, industry leaders, policymakers, investors, diplomats, financiers and innovators within and outside the country, will also showcase the investment opportunities in the Federal Capital Territory (FCT), Abuja, the sub-nationals, and other emerging markets.

This year’s theme, “Empowering Sustainable Growth: Unlocking Potential in Emerging Markets,” highlights the critical importance of innovative and inclusive approaches to economic development.

It will also feature panel discussions, keynote speeches, business matchmaking sessions, stimulating debates and interactive networking opportunities that will make a lasting impression on attendees.

The expo is part of a broader vision of the FCT minister to

reposition Abuja as a global investment hub, foster sustainable urban development, and drive economic diversification through strategic partnerships and private sector engagement.

According to Group Managing Director/Chief Executive Officer of AICL, Dr. Maureen Tamuno, this convergence of diverse perspectives will not only explore investment opportunities but also address the pressing challenges facing emerging markets, paving the way for practical solutions and actionable strategies.

Tamuno highlighted the primary objectives of the investment summit to include showcasing the economic and investment potential in the FCT across various sectors; providing a forum for dialogue between policymakers, investors, and stakeholders to address challenges and opportunities in Abuja's business environment; facilitating collaborations between government agencies and private sector entities to drive, innovation and economic growth; connecting local entrepreneurs with international businesses, investors, and development, as well as fostering a robust knowledge exchange platform that empowers stakeholders with insights into investment trends, regulatory frameworks, and market opportunities.

Umar-Sadiq, said since its launch in 2016, PFI had evolved into one of Nigeria’s most impactful agricultural interventions.

This came as Chief Executive, MoFI, Dr. Amstrong Takang, reaffirmed its commitment to the success of PFI, notwithstanding NSIA's planned exit of the programme

Both spoke at the 2025 PFI-NPK Stakeholders’ Roundtable, with the theme, "PFI: A journey of Reform, partnership and Transition," at the weekend in Abuja.

Umar-Sadiq, said, "This event is significant because we are honouring nearly a decade of positive impact, strategic partnership, growth and reform. The PFI is a model of what

collaboration between public institutions, and the private sector can achieve.

"We remain committed to strategic partnerships that enhance positive socio-economic outcomes for Nigerians

"By strategically leading the PFI programme for almost a decade, NSIA re-validates its commitment to advance food security, empower stakeholders within the value chain and ultimately propel sustainable economic growth and development in Nigeria."

He added, "As the PFI transitions to MoFI, NSIA reiterates its focus on catalysing impactful investments, promoting public-private sector collaboration, and support for initiatives that optimise positive

100,000 direct, indirect jobs created

outcomes in Nigeria."

The NSIA boss pointed out that the PFI interventions had significantly improved fertiliser accessibility and affordability, enhanced food security, and created over 100,000 direct and indirect jobs across the country.

According to him, despite global supply chain disruptions caused by the COVID-19 pandemic, the Russia-Ukraine conflict, persistent foreign exchange volatility, macroeconomic pressures like the devaluation of the naira, PFI remained resilient, as NSIA, working closely with relevant stakeholders, ensured uninterrupted supply of fertiliser to farmers at stable prices.

He said in recent years, the

initiative had undergone a strategic restructuring, focused on positioning PFI for enhanced financial and operational sustainability.

Umar-Sadiq said, "This next phase includes the introduction of wet blend technology, geographic expansion to underserved regions, and a stronger focus on private sector participation, setting the stage for additional positive impact."

The MoFI chief executive said the PFI-NPK programme had over the years, played a role in transforming the country's fertiliser ecosystem, from expanding domestic blending capacity to enhancing farmers’ access to quality fertilisers and advancing national food security objectives.

Onyebuchi Ezigbo in Abuja

Managing Director of Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, has described the Employees Compensation Scheme (ECS) operated by the fund as a vital instrument for social justice.

Speaking at a SERVICOM Stakeholders' Engagement organised by NSITF in Enugu, Faleye said, "The ECS is not a tax. It is not a burden. It is a shield for

employers and employees alike. It is a Mechanism for social justice and corporate social responsibility.

“When a worker is injured or lost, the ECS provides medical care, compensation, rehabilitation and in many cases, stability for the affected family."

Faleye stated that many employers had failed to comply with the Employees Compensation Act mandating them to enrol workers in ECS due to lack of awareness and

information or blatant refusal to engage.

The managing director revealed that NSITF had so far paid over 138,000 claims to workers or their beneficiaries.

Faleye also spoke on efforts by the fund to ensure easy access to its services through digitalisation of its operations and strengthening of partnerships with accredited medical providers.

In a goodwill message delivered on behalf of the state governor, Peter Mbah,

by Enugu

State Commissioner for Finance and Economic Development, Dr. Nathaniel Urama, Mbah said the theme of the workshop, “Mission Possible: Securing Nigeria's Workforce through Comprehensive Social Protection,” related “highly with the ethos of our administration”.

He said the state government was committed to employees’ welfare, increased social protection, and national productivity.

Lagos Govt Set to Host Most Beautiful Farmer Project

Segun James

The Lagos State Ministry of Agriculture and Food Systems has concluded plans to host the first ever The Most Beautiful Farmer project in the state in which the winner will smile home with a Truck and farming tools.

The Most Beautiful Farmer project intends to showcase the beauty of agriculture while

celebrating the strength and resilience of women who drive the agricultural industry.

The Lagos State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya disclosed this at a media briefing On the Most Beautiful Farmer (MBF), disclosed that the project is in conjunction with the Farm Project Foundation.

She explained that the female farmers not only contribute to

the trade but also nurture the land that provides the food we all consumed adding that the initiative was to boost food production, enhance affordability, and make a significant contribution to food security in the state and the nation at large. The commissioner noted that the Most Beautiful Farmer project is an empowerment initiative designed to elevate female farmers by providing

them with tools, resources and recognitions they deserve with strategic partnerships aimed to foster sustainable agro practices and promote agriculture as a viable career pathway. Olusanya stressed that partnership is essential for the progress of residents of the state and the nation adding collaborating with Farm Junction on this initiative has been more of a blessing.

Ndubuisi

James Emejo in Abuja

L-R: Vice President, Mortgage Banking Association of Nigeria(MBAN),Arinze Adigwe; CEO, Nigeria Mortgage Refinance Company(NMRC),Kehinde Ogundimu; Central Bank Governor, Olayemi Cardoso; President, MBAN, Ayo Olowookere; Treasurer, Ngozi Chukwu and Executive Secretary/ CEO, Dr Adedeji Ajadi when MBAN paid a courtesy visit to the CBN Governor in Abuja ... recently

FOUNDATION LAYING FOR NSUKKA INT'L MARKET...

for the 5,000-shop

Senator Adaramodu: Why Senate Cannot Recommend Any State for Creation Right

It requires

auditing demographic, geographic and historical

Gbenga Sodeinde in Ado Ekiti and Tony Icheku in Owerri

Spokesman of the 10th National Assembly, Senator Yemi Adaramodu, said the red chamber had received about 61 proposals for state creation from across the six geopolitical zones in the country, but it could not recommend any state for creation now.

Adaramodu, who spoke with journalists in Ilawe Ekiti, his country home, over the weekend

disclosed the stance of the senate, adding that the red chamber has no constitutional right to unilaterally create states.

He said state creation was a serious process that required auditing demographic, geographic and historical data.

Meanwhile, Chairman of South East Council of Traditional Rulers, HRM Eze Dr. E.C. Okeke, CFR, at the weekend, refuted the claims by “some individuals with cheap political interests during a TVC

data South East traditional rulers debunk claims of backing Anioma State creation

NEWS interview that South East Traditional Rulers endorse the creation of Anioma State".

Okeke said such claims were unfounded and without basis.

In a signed statement made available to THISDAY, Okeke stated, “We, the South East Traditional Rulers, have never had any discussions with anybody or group of persons with regard to the creation of Anioma State. Rather we have consistently held meetings in support and to uphold the creation

of Anim State and Adada State, respectively, which are located in the South East Region of the Federal Republic of Nigeria.iiiiii

“Anybody acting on such false claims from non-indigenes of South East is doing so at their own peril. We the South East Traditional Rulers Council shall continue to recommend and stand for the creation of Anim State and Adada State."

The senate spokesman explained that the upper chamber could

Olu of Warri Targets 1000 Itsekiris in Students Bursary Scheme in Delta, Edo Communities

Sylvester Idowu in Warri

The Olu of Warri, Ogiame Atuwatse 111, has emplaced a bursary scheme targeting 1000 Itsekiri students in Warri Federal Constituency in Delta State as well as in Edo State.

The scheme is specifically targeting students in Itsekiri communities in Warri Federal Constituency, Delta Central Senatorial district in Delta State and Itsekiri communities in Edo State.

Sole Representative of Olu

of Warri to Nigeria National Petroleum Company Limited (NNPCL), Prince Collins Edema made the disclosure over the weekend in a statement issued in Warri.

He urged Itsekiri communities in the Warri Federal Constituency as well as Edo State to take advantage of the extended deadline to August 31 to send more entries for the Ogiame Atuwatse 111 Itsekiri Students Bursary Scheme.

While unveiling shortlisted candidates in the scheme, the

Sole Representative of the Olu of Warri disclosed that each targeted Itsekiri Community in Warri Federal Constituency, Delta Central Senatorial District and Edo State have been given up to August 31 deadline to submit three eligible Itsekiri students each who are indigenes of their respective communities to be included in the final batch of beneficiaries of the Bursary Scheme.

He disclosed that 746 candidates were already shortlisted at the close of the

application window but needs more entries to meet the 1000 target.

Prince Edema said, in a bid to meet the targeted 1,000 beneficiaries, the application window has been extended to enable more communities nominate Itsekiri students.

He disclosed that to be eligible, students “must be an Itsekiri indigene, must be in 200 Level or above and must submit Admission Letter /Transcript alongside any other supporting academic documents”.

Allegations of Fraudulent UPTH Medical Report Rock Legal Battle

A legal controversy is unfolding in the High Court of Rivers State, sitting in Port Harcourt, as allegations emerged that a key medical report used in a fundamental human rights case may have been fraudulently obtained.

The dispute centres around Livinus Eze (respondent), who is facing accusations from Hillary Chukwugozirim Anya (applicant),

claiming he (respondent) hired military personnel to assault him (applicant).

Among the reliefs sought for by the applicant is a perpetual injunction restraining the respondent or his agents from further violating his fundamental human rights, trailing, harassing, embarrassing, arresting and unlawfully detaining him.

He also seeks an order awarding him N500million only, as general and exemplary damages against the respondent

for unlawful violation of his constitutionally guaranteed fundamental rights.

Charles Nwogu, representing Eze in Suit No: PHC/939/ FHR/2024, publicly declared his intention to challenge the validity of the medical report, which Anya claims substantiates his injuries.

Speaking with journalists in Port Harcourt, yesterday, on the issue, the respondent's counsel stated the medical report, allegedly issued by the University of Port

Harcourt Teaching Hospital (UPTH), dated March, 12, 2024, is a fabrication.

Nwogu asserted that the doctor named in the report, Dr. Eramus Orage, who signed for the consultant does not exist within UPTH’s records, raising serious questions about the authenticity of the documentation.

He said: “Our investigation has revealed that this medical report was not generated by any legitimate medical professional at the hospital.”

not also recommend any state for creation until all factors had been put into consideration.

Adaramodu stated, "The stance of the senate has always been unique, constitutional and legislative. First, the senate cannot unilaterally create states; such requests must be considered during a constitutional review process.

"In such cases, Nigerians and other critical stakeholders will express their interests, which often range from local government autonomy to state creation and

even the creation of more local governments. There is also the validation of new Local Council Development Areas (LCDAs) created by various state governments, such as Lagos State and my own state in Ekiti.

"So far, the senate has received about 61 requests for state creation. During our interactions with constituents from the six geopolitical zones of Nigeria, these demands and requests were formally submitted. As we have stated, all of these will still be reviewed and examined.

Govs, LGA Chairmen Urged to Maximise Enhanced FAAC Allocations to Improve Infrastructure, People's Welfare

Emmanuel Ugwu-Nwogo in Umuahia

State governors and council chairmen have been advised to make adequate use of the opportunity offered by huge increase in financial resources presently accruing to states, to perform better in governance.

The board member representing Southeast in the North East Development Commission(NEDC), Hon. Sam Onuigbo, gave the advice weekend at the South East Zonal Summit of the Nigerian Institute of Management (Chattered), held in Umuahia.

Onuigbo, who was honoured by NIM with a Distinguished Service Award, observed in post-award remarks that there has been a triple increase in revenue allocation from the centre to the states and LGs since the inception of President Bola Ahmed Tinubu's administration.

The two-term member of the House of Representatives, therefore challenged governors and council chairmen to make effective use of the increase in FAAC earnings to engender more development in infrastructure, and improvement in people's welfare.

“The governors are getting money , more than three times of what they got when I was the Commissioner for Finance (in Abia State). The local governments are also getting more money after the removal of subsidy," he said.

Onuigbo stated that if the chief executives of states and councils would manage the enhanced allocations effectively, they would be in good stead to attain Mr. President's goal of making life better for Nigerians. Nonetheless, he demanded that political leaders must be accountable and transparent in the management of resources and ensure that the collective patrimony reflects on the wellbeing of the people.

He attributed the surge in financial resources to Tinubu's courageous removal of oil subsidy, which had been riddled with corruption and wastages of resources that could have been deployed to improve the living standards of the masses.

Blessing Ibunge in Port Harcourt

Governor of Enugu State, Dr. Peter Mbah (middle), assisted by the Chairman, Nsukka LGA, Engr. Jude Asogwa (left), performs foundation-laying

capacity Nsukka International Market at the weekend, while Member representing Igbo-Eze North/Udenu Federal Constituency, Hon. Dennis Agbo, looks on.

Email: deji.elumoye@thisdaylive.com

Eight Months On, Taraba Functions without a Deputy Governor

Wole Ayodele writes that the absence of Taraba state deputy governor, a lhaji a minu a lkali, from office for about eight months due to ill health has continued to generate mixed reactions from residents and other stakeholders especially the political class in the state.

Taraba State Deputy Governor, Alhaji Aminu Alkali, has been away from office since late December, 2024. He was first hospitalised at the National Hospital, Abuja for some weeks before eventually being taken to a hospital in Egypt where he was again on admission for several months before he was eventually discharged.

Since his discharge and return to the country, he is yet to resume duties as he is said to be recuperating based on medical advice from his doctors.

Though the nature of the deputy governor’s ailment was initially shrouded in secrecy, the State Commissioner for Health, Dr Bordiya Buma, who visited him in Egypt however disclosed that he had a stroke. According to him “He had a stroke, which affected a part of his body, causing weakness on one side and impairing his ability to talk. But glory be to God, the treatment is ongoing, and we are happy with his progress”.

When the news of his illness broke out, majority of the people in the state were thrown into pensive mood while prayers were offered in Churches and Mosques for his speedy recovery. In some prayer centres, special prayers were being offered every time of worship for God’s divine healing of the man that has become renowned for his gentility and humility.

But while majority of the people continue to engage in supplications, some sections of the political class in the state began to raise dust over his prolonged absence while some actually began agitation for his removal from office even when he’s said to be recuperating faster than envisaged.

The dust being raised over the deputy governor’s absence thickened with the posting of Dr Emmanuel Lawson, the Deputy Chief of Staff to the Governor to the office of the deputy governor. Immediately the posting became public knowledge, rumours spread round the state that the posting was an attempt by the governor to run the deputy governor’s office by proxy.

But reacting to the insinuations, Special Adviser to the Governor on Political Affairs, Prof Josiah Sabo Kente, stated that the posting was purely administrative. He noted that the

office of the Deputy Chief of Staff is always domiciled in the office of the deputy governor at the state level and the Vice President at the national level.

According to him “Those raising eyebrows and insinuating all sorts are either ignorant of the workings of government or they are being mischievous. The Office of the Deputy Chief of Staff is always domiciled in the Office of the Deputy Governor at the state level while it is domiciled in the Office of the Vice President at the national level.

There’s nothing strange in the posting to warrant all the insinuations”.

Though the opposition All Progressives Congress in the state began the agitation for his removal from office, some elements in the ruling People’s Democratic Party who hope to benefit from his removal to gain political advantage joined the fray and began political manauvering for his ouster.

THISDAY investigations revealed that the there are some elements within the ruling party who felt the position of the deputy governor and Speaker of the House of Assembly shouldn’t have come from the same senatorial district as it presently is and therefore view the present circumstance as an opportunity to alter the status quo.

Alhaji Alkali and the Assembly

Speaker, Rt. Hon.Kizito Bonzena are both from the Northern senatorial district while the governor is from the Southern senatorial district while the highest political office holder from the Central Senatorial district is the Secretary to the Government of the State (SGS), Chief Gebon Kataps.

In a bid to alter the existing arrangement, there are reports that the Deputy Speaker of the State House of Assembly, Hon Hamma Adama who represents Bali II constituency is being positioned to replace Alkali as deputy governor while the Assembly had also concluded plans to declare the office of the Deputy Speaker vacant to pave way for the emergence of the Deputy Speaker.

But in a swift reaction, the House of Assembly debunked the reports maintaining that the Assembly has no plan to declare the Deputy Governor incapacitated. Addressing a press conference at the Assembly complex, Chairman, House Committee on Information, Hon Nelson Len, dismissed such speculations insisting that there was no time the Assembly contemplated such.

“The Taraba State Have of Assembly did not contemplate at any point in time to declare the Deputy Governor, Alhaji Aminu Alkali incapacitated. The Deputy Governor is recuperating and we’re very confident that he’ll resume back to office. We call on the general public to disregard the speculations that the Assembly is preparing to declare the deputy governor incapacitated”, he stated.

In a bid to alter the existing arrangement, there are reports that the Deputy Speaker of the State House of Assembly, Hon Hamma Adama who represents Bali II constituency is being positioned to replace Alkali as deputy governor while the Assembly had also concluded plans to declare the office of the Deputy Speaker vacant to pave way for the emergence of the Deputy Speaker.

Meanwhile, those pushing for the replacement of Alhaji Alkali are apparently relying on the provisions of Section 189 of the 1999 Constitution as amended to advance their cause. According to the provisions of the section “The governor or deputy governor of a state shall cease to hold office if by a resolution passed by two-thirds majority of all members of the executive council of the state, it is declared that the governor or deputy governor is incapable of discharging the functions of his office; and…is verified, after such medical examination as may be necessary, by a medical panel established under subsection (4) of this section in its report to the speaker of the House of Assembly.

“Where the medical panel certifies in its report that in its opinion the governor or deputy governor is suffering from such infirmity of body or mind as renders him permanently incapable of discharging the functions of his office, a notice thereof signed by the Speaker of the House of Assembly shall be published in the Official Gazette of the Government of the State. The governor or deputy governor shall cease to hold office as from the date of publication of the notice of the medical report pursuant to subsection (2) of this section.”

According to the constitution, the medical panel shall comprise five medical practitioners in Nigeria, one of whom shall be the personal physician of the holder of the office concerned and four medical practitioners, to be appointed by the Speaker of the state assembly.

While the proponents of the removal of Alhaji Alkali are of the view that his present condition is critical enough to warrant the invocation of the provisions of Section 189 of the Constitution, the State Executive Council, which is saddled with the task of doing so, feels otherwise. A member of the Executive Council who preferred anonymity stated “the present condition of the deputy governor does not warrant the invocation of the Constitution. He has recovered substantially and very soon, he will be able to resume office”.

NOTE:

Kefas

Alkali

www.thisdaylive.com

opinion@thisdaylive.com

OLUSEGUN AYO-ADEBANJO

RIBADU’S QUIET REVOLUTION

Nuhu Ribadu, national security adviser,is making a difference, argues JUDE OBIOHA

SELECTIVE HANDLING OF AVIATION SAFETY STANDARDS

FRED CHUKWUELOBE argues that regulatory bodies must enforce the law at all times

contends that the Naira is trapped in a vicious cycle of depreciation unrelated to real economic activity

TINUBU: LET THE NAIRA BREATHE

The purported policy of your government is to leave all rates to market demand (i.e., pure demand and supply) so we get an actual operating rate for the Naira (against which the government can do jara moves on the side for “price stability”).

This objective, though seemingly reasonable, is doomed to fail because the way we implement it in Nigeria is flawed. We overissue Naira, so there is no way the Naira can win.

The current supposed auction by the CBN only produces a rate rigged against the Naira, fixed through the CBN’s opaque process.

This rate is manipulated by counting dollar receipts from oil revenues twice: first in Naira issuance not backed by productivity and distributed via FAAC, and again in dollars retained by the CBN for sales and reserves. This happens monthly. Add to this the excess Naira printed illegally via "Ways and Means" over the years, and the Naira is clearly disadvantaged.

Worse still, the government benefits from depreciating the Naira, as it allows more Naira to be issued against dollar receipts, helping to repay Naira debts and bonds. In other words, it's a strategy to balance the government's books.

Note: Most such bonds and overprinting fund white elephant projects or recurring expenditures. They don’t contribute to productive output to support the Naira's value.

This problem is intensified by what I call “FAAC fever,” where, after each FAAC distribution, there's a spike in dollar demand. Because the Naira no longer stores value well, state governments rush to convert their Naira into the same dollars CBN had earlier converted to Naira to disburse. They buy their own money back—at a higher rate.

This distortion means dollar receipts trigger artificial demand for dollars instead of Naira. Much of this stems from the government’s own excessive Naira printing for FAAC and abuse of Ways and Means. The Naira is trapped in a vicious cycle of depreciation unrelated to real economic activity.

It gets worse. At the next auction, CBN uses this phantom depressed rate of the Naira to set future rates.

All this discourages saving in Naira and denies the economy much-needed investment capital. One proxy for this is the $30 billion reportedly sitting in

Nigerian domiciliary accounts. Yes, $30 billion. You can’t run a capitalist economy without understanding its foundation: aggregating and deploying capital. That means encouraging a savings culture and developing capital markets.

Adding to the problem are the very high interest rates on bonds designed to attract hot money to offset dislocations caused by past policies. This just postpones the inevitable: another Naira devaluation to repay domestic debts cheaply and preserve dollars for foreign debt.

This comes at the cost of everyday Nigerians, who suffer repeated inflation shocks. Those who survived past policy-driven hardships are hit again by more cost-push inflation and deeper impoverishment.

This sequence cannot result in a fair Naira value. It robs Nigerians of wealth and keeps them in poverty. It's insane that this remains our national economic policy.

In sum, the number one thing government can do is restore faith in the Naira through four steps:

One, stop issuing Naira for FAAC dollar receipts. Instead, credit state and local government CBN accounts in dollars. Force them to buy Naira to meet their salary and other obligations. This increases demand for Naira and its value.

Allow states and local governments to use their dollar allocations to pay vendors needing forex for imported components—regulated through letters of credit. This curbs artificial dollar demand.

Two, impose harsh penalties for illegal Naira printing. The death penalty should apply to any CBN governor, mint director, or president authorizing unlawful Naira issuance. Only this can deter future abuse like the ₦30 trillion

Ways and Means printing under Buhari, which remains unpunished. Without consequences, repetition is likely.

The Naira’s credibility must not rely on the character of whoever holds power. Harsh penalties empower CBN governors to resist pressure. Investors must be assured such abuse cannot recur.

No Nigerian government will maintain fiscal discipline if it can print money illegally without consequence.

Three, set strict limits and oversight for Naira issuance. Printing should reflect actual or expected production, with an inflation target of 2-4%.

Anything higher suggests overprinting.

Four, Change CBN’s mandate from inflation-only to dual: inflation and full employment. Like the US Federal Reserve, this ensures that the CBN balances interest rate policies to both control inflation and support job creation.

Full employment is the best measure of the Naira’s real value. The CBN must ensure interest rates don’t stifle private sector lending and investment.

This also prevents excessive government borrowing from crowding out private capital.

Additionally, the roles of Coordinating Minister of the Economy and Finance Minister should be split. The former requires a developmental economist mindset, not a finance specialist. The job involves organizing the economy and citizens into a national production system that meets our needs and ensures full employment.

For this, we could justifiably print the required Naira without risking inflation and build the economy sustainably from the ground up. This role should follow Chinese-style macro planning, not Bretton Woods institution models.

This is the only path to stop the endless impoverishment of Nigerians. The government must act to create real value and protect the Naira.

Ayo-Adebanjo is a venture capitalist with B.A in Philosophy from the University of Ife, an L.L.B from the University of Buckingham, England and a JD from Columbia University, New York where he was a Harlan Fiske Stone Scholar and Articles Editor of the Columbia Business Law Review He can be reached at: S.adebanjo2025@gmail.com

Nuhu Ribadu, national security adviser,is making a difference, argues JUDE OBIOHA

RIBADU’S QUIET REVOLUTION

When President Bola Ahmed Tinubu appointed Malam Nuhu Ribadu as National Security Adviser (NSA) in June 2023, the reaction was swift and mixed. Some critics lamented the departure from the traditional norm of appointing military generals to the role. But for many Nigerians— particularly within civil society, the intelligence community, and security policy circles—the appointment marked a bold, progressive shift. It was a strategic signal that Nigeria was finally ready to recalibrate its national security architecture, placing human security and intelligence-led policing at its core. Ribadu's background was a refreshing departure from the past. A former top-tier police officer who rose to the rank of Deputy Inspector-General (DIG) and the pioneer Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ribadu brought with him deep institutional memory, investigative acumen, and intelligence experience. His appointment symbolised the fusion of traditional state security with modern human security principles— bridging the gap between civilian oversight and military-led operations. When he assumed office, Ribadu inherited one of the most complex and multifaceted security crises in Nigeria’s history. In the Northeast, Boko Haram and Islamic State in West Africa (ISWAP) continued to pose serious threats. The Northwest struggled with ruthless banditry and gun violence. In the North Central, farmer-herder conflicts persisted. The Southeast experienced secessionist movements led by the Indigenous People of Biafra (IPOB). The South-South simmered with latent militancy and oil theft, while the Southwest faced sporadic ritual killings and kidnappings. It was a perfect storm. But Ribadu did not flinch. Rather than resort to rhetoric or blame games, he opted for a strategic, intelligence-led approach. He assembled a robust team of professionals, synergised operations among agencies, and focused on delivering measurable results. Within two years, significant progress has been recorded across multiple flashpoints. One of Ribadu’s most significant achievements has been restoring relative peace in previously volatile regions. Southern Kaduna, once a hotbed of killings and abductions, is experiencing a calm that residents say hasn’t been felt in years. Zamfara, which was effectively under siege before Tinubu's administration, is now gradually regaining stability. Even in the Southeast— where sit-at-home orders once paralysed states and “un-

known gunmen” targeted security operatives—normalcy is returning. Ribadu has also made gains in tackling oil theft and militancy in the South-South. For the first time in over a decade, Nigeria’s crude oil production is meeting and even exceeding its OPEC quota, rising from one million barrels per day to 1.7 million. This resurgence in output is directly linked to better maritime security, reduced sabotage of oil installations, and a relatively stable Niger Delta region. The Southwest, too, has seen a sharp drop in herder-farmer clashes and ritual killings. The feared Abuja-Kaduna expressway, once a hunting ground for kidnappers, has seen a marked improvement in safety and accessibility. In a recent briefing, Ribadu outlined his achievements, including the suppression of large-scale terrorist attacks, the prevention of mass abductions, and the neutralisation of notorious bandit leaders like Kachalla Ali Kawaje, Kachalla Halilu Sububu, and Kachalla Damina. According to him, Boko Haram activities have dropped by 8% in recent times, and only 16% of the total 394 terrorist attacks in 2023 occurred under the Tinubu administration. These are not just statistics. They represent real lives saved, territories regained, and a nation slowly clawing its way back to safety. Public affairs analyst Reno Omokri highlighted these tangible improvements, asking pertinent questions: “When was the last time you heard of a school abduction? Or a bombing of the Abuja-Kaduna railway? Have you seen the people of Southern Kaduna complaining? What about jailbreaks by terrorists freeing their colleagues?” He also pointed out that more than 100 police stations in the Southeast that were shut during the previous administration have now reopened, enabling better community policing. Oil theft has dropped to under 2%, and peace initiatives like the Ogoniland clean-up and establishment of a new polytechnic are gaining traction.

Obioha writes from Abuja

FRED CHUKWUELOBE argues that regulatory bodies must enforce the law at all times

SELECTIVE HANDLING OF AVIATION SAFETY STANDARDS

The Nigerian Civil Aviation Authority (NCAA) has to take the frequent security breaches at our airports and in flight more seriously. So far, it appears the agency has been treating the worsening security breaches selectively and with kid gloves, thereby emboldening more unruly behaviours.

The NCAA is an autonomous aviation regulatory agency empowered by the Civil Aviation Act 2022. The Act not only empowers the Authority to regulate Aviation Safety without political interference but to also carry out oversight functions of Airports, Airspace, Meteorological Services, etc., as well as economic regulations of the industry.

Nigeria is a signatory to the International Civil Aviation Organization (ICAO), a United Nations (UN) agency that coordinates the principles and techniques of international air navigation, and fosters the planning and development of international air transport to ensure safe and orderly growth. Nigeria being a signatory of ICAO demands as obligation on the NCAA to ensure that any passenger who flouts any of the rules stipulated by the UN agency is dealt with to the full extent of the law.

Recently, popular musician, Wasiu Ayinde Marshal popularly known as “Kwam 1 De Ultimate”, was seen on videos physically standing in front of a Value Jet aircraft, at the Nnamdi Azikiwe International Airport, Abuja, preventing it from taxiing for take off. Reports indicated that he was asked by the crew to have a container believed to be liquid which he wanted to board the flight with inspected. It is a well known fact that passengers are not allowed to board flights with certain quantity of water. Rather than obey this instruction and submit to the crew’s request, the musician was said to have poured some of the contents on crew members, physically stood in front of the aircraft and refused every entreaties by the ground staff to move out of the way to enable the aircraft taxi for take off.

Before this incident, there have been similar incidents involving passengers on Air Peace Airline flights both on ground and in the air, which either went unreported or were swept under the carpet after they were reported. There was the case of three passengers who were alleged to have drank three bottles of liquid suspected to be alcohol mid air on a London Gatwick - Lagos Air Peace flight on April 12, 2025. The passengers became intoxicated and threatened to storm the cockpit and force the plane down. Despite repeated appeals from the captain, the three continued to cause chaos, putting the lives of passengers, the crew, and the equipment in clear danger. The pilot was forced to radio security in Lagos and upon landing, the unruly and drunk passengers were left off the hook with no consequences.

Again, we will recall that in recent past a serving senator representing Edo North and former governor of Edo State, Adams Aliyu Oshiomhole, physically stopped Air Peace Airlines staff at the MMA2 Ikeja from carrying out their legitimate duties because he was not allowed to board an aircraft that had departed. The senator came late after the check-in counter had closed, claimed he checked in online, but couldn’t produce a genuine boarding pass to that effect. What happened to him? Typical of the way we do things in this country, his conduct was greeted with the outrage that lasts a few days. The NCAA which treated this matter lightly and the ones before it, many of which were reported but ignored, missed the purport of the situations. The NCAA whose responsibility it is to investigate and punish such infractions seems to have become selective in the process. How do I mean? In all the cases involving Air Peace Airlines, the matter was known to have received little or no reprimand from the aviation authorities. Many people did not know such incidents occurred much more learn about the punishments meted out to those concerned. Even in a more serious situation like the three passengers who consumed alcohol at 36,000 feet above sea level and threatened to bring down an aircraft inflight, the aviation authorities were not alarmed at the potential danger posed by the incident; that such conduct could have led to fatalities and greater negative image for the nations struggling aviation industry. However, in the case of Value Jet, the authorities swiftly moved in to punish Kwam 1 and suspended him. What about the senator? What about the drunken three passengers on the London Gatwick - Lagos route? What about the several incidents involving Air Peace Airlines? Why were they not equally handled with the swiftness with which that of Value Jet was handled? Why did NCAA apply the extant rules selectively?

Chukwuelobe is a Lagos-based Journalist

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

BORROWING COST FOR BUSINESSES

The interest rate is excessive

These are not the best of times for Nigerian businesses. Both in the formal and informal sectors. From large concerns to Medium, Small and Micro Enterprises (MSMEs), they are buffeted by multifaceted challenges, ranging from high operational costs in terms of energy, multiple taxation and growing insecurity, among others. While these challenges continue to exert their toll, a recent report by the Central Bank of Nigeria (CBN) deserves attention. According to a Business Expectations Survey (BES) published by the apex bank, high interest rates came tops as the most severe constraint affecting business operations in June 2025, overtaking long-standing challenges such as insecurity and poor electricity supply.

Of the over 1,900 firms polled across the agriculture, services, and industrial sectors, high interest rates chalked up 75.6 per cent on the constraint index, followed by insecurity at 75.2 and insufficient power supply at 74.3. Other challenges highlighted by the survey include high bank charges (73.2), multiple taxes (68.9), an unfavourable economic climate (68.7), and unclear economic laws (67.4).

kept all key policy parameters unchanged. Banks set their lending rates to the final end-users based on the MPR and their assessment of the risk associated with lending to different borrowers. It is a major worry that currently, some Nigerian banks lend at rates as high as 48 per cent. This is not sustainable for businesses, whether in the formal or informal sectors of the economy.

It is a major worry that currently, some Nigerian banks lend at rates as high as 48 per cent. This is not sustainable for businesses

The survey findings underscore the entrenched and seemingly interminable strain Nigerian businesses are subjected to by a hostile operating ecosystem. As of January 2025, Nigeria’s interbank lending rate surged to a five-year high of 28.58 per cent, reflecting the CBN's aggressive monetary tightening measures. Since the interbank rate is what banks charge one another for short-term loans, typically overnight, it follows that a rising rate signals tighter cash conditions, which in turn raises borrowing costs for businesses and consumers.

Despite the subsisting high borrowing cost, there seems to be no solution in sight. At its last meeting penultimate week, the Monetary Policy Committee (MPC) of the CBN retained the Monetary Policy Rate (MPR), the rate at which the apex bank lends to commercial banks, at 27.5 per cent for the third consecutive time in 2025. It also

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EDITOR SHAKA MOMODU

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Letters to the Editor

Using the N1,529.53 per dollar exchange rate, figures from the recent rebased Gross Domestic Product (GDP) indicate that the Nigerian economy is worth about $243.53 billion, thus trailing South Africa with an economy worth $410.34 billion, Egypt with $347.34 billion and Algeria with $268. 89 billion. Meanwhile, of the three other leading continental economies, Nigeria's lending rates are significantly higher. The current prime lending rate in South Africa is 10.75 per cent. In Egypt, the cost of borrowing, reflected by the bank lending rate, recently saw a slight decrease. The Central Bank of Egypt (CBE) cut its benchmark interest rate to 25.50 per cent in April 2025, following a period of record-high borrowing costs. Also, Algeria's lending interest rate has remained at 8 per cent since 2022. While Kenya is not among the top four economies in Africa, the cost of borrowing in that country was only recently increased to 13 per cent.

The ripple effects of high borrowing cost are enormous. They include, among others, reduced profitability, limited expansion and the consequent employment freeze. High borrowing cost also leads to strained operations, discourage or deter both potential domestic and foreign investor. It is, therefore, imperative that monetary authorities in Nigeria revisit some of their monetary policy tools, particularly the MPR and Cash Reserve Ratio (CRR) to ease the lending costs and strength businesses. This is necessary particularly for a country targeting a $1 trillion economy by 2030.

A thriving business ecosystem is a major incentive for job-led economic growth and national prosperity.

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

THE POINTLESS DEBATE ABOUT SINGLE TENURE

A debate has recently erupted over the insistence of Peter Obi that if he is elected as president of the country in 2027, he will serve only a single term. Since he reiterated a position he has stringently maintained in his signature candor and consistency, he has come under attacks from key players in the Nigerian political and media scene. Many of his attackers have insisted that Peter Obi was giving in to dissembling, naivety, or both.

Since he began throwing his hat into the ring to become the president of Nigeria, Peter Obi has had a lot to say, just like the everyday Nigerian politician. Yet, what stands Peter Obi out from the everyday politician whose loquacity is often a ladder to political office, is that he always manages to sound convincing. This is even before he brings in his incredible track record as Anambra Governor.

Since he started maintaining a constant stream of thoughts

and treatises on the Nigerian situation, Peter Obi has become a target for all manner of vicious attacks from every corner. But instead of backing down, the former Anambra State Governor has instead doubled down. He always speaks so simply but powerfully about Nigeria’s myriad problems. Indeed, it is a measure of his characteristic consistency that Obi has continued to weigh in on the Nigerian conundrum. The hullabaloo about his proposal to do only one term as president if elected into office has detonated like a bomb in a country where people kill or are killed for power.

But if there is one Nigerian politician that can get into office and do exactly what he says he will do, it is Peter Obi. For him, politics is about service, not transactions. He is such a breath of fresh air in a country where power is relished and never relinquished without a fight.

Nigerians need to change their approach to how they ac-

quire and use political power. There is no magic about this. At the heart of this truth is a profound lesson that can liberate Nigeria. Realizing that power in Nigeria belongs to Nigerians and should be used in service of the people makes political office less attractive and convenient but definitely more useful and beneficial.

Nigeria’s last general elections came in 2023. The next general elections come up in 2027, but already the obsession over the second term has turned into confusion for many elected office holders. Having failed to justify the term already spent in power, many of them have actively suspended governance and are instead fully focused on securing a second term in office.

Ike Willie-Nwobu, Ikewilly9@gmail.com

Kayode tokede

On the back of tightening stance by the Central Bank of Nigeria (CBN), average prime lending rate to bank customers in Nigeria closed June 2025 at 18.19 per cent from 17.96 per cent in May 2025.

The Monetary Policy Committee (MPC) of the CBN retained Monetary Policy Rate (MPR) at 27.50 per cent at its last meeting despite calls by manufacturers for gradual easing of benchmark rate.

So far in 2025, the

highest average prime lending rate was 18.49 per cent, which was recorded in January 2025. The prime lending rate is the interest rate that banks charge their most creditworthy customers, usually large corporations and it serves as a benchmark for many other loans, including personal and business loans.

In Nigeria, the prime lending rate in the banking sector is influenced by monetary policy, inflation, liquidity in the banking system and economic conditions.

Nigeria’s banking sector’s average prime lending rate reached an all-time high of 19.66 per cent in November 2009 and a record low of 11.13 per cent in March 2021.

The steady increase in MPR reflected in the average prime lending rate last year as the CBN intensified its effort to tackle inflation rate and stabilize the local currency at the foreign exchange market.

The first hike in MPR was from 18.75 per cent to 22.75 per

cent, the second to 24.75 per cent, the third to 26.25 per cent, the fourth to 26.75 per cent and recently 27.25 per cent in the September 2024 Monetary Policy Committee (MPC) meeting.

MPR thus moved to 27.50 per cent in November 2024 with the average prime lending rate jumping to 18.39 per cent in November 2024 to eventually closing last year at 18.56 per cent.

The increases, totalling 875 basis points in MPR since Mr. Olayemi

Cardoso’s appointment, have been driven by efforts to tackle the country’s persistent inflation challenges, which include high core and food inflation.

An investigation by THISDAY showed that the increase in MPR impacted on banks average prime lending to their customers in June 2025.

According to the CBN’s Banks’ deposit and lending rates data, Wema bank’s general sector average prime lending rate rose to 32.50 per cent in June

2025. The reported 32.50 per cent was the highest in the banking sector in the period under review.

Following Wema Bank was Unity Bank with 32 per cent and FCMB with 31 per cent average prime lending rate in June 2025. The likes of Alpha Morgan Bank, Fidelity Bank, Keystone Bank, and Parallex Bank closed June 30, 2025 with average prime lending rate at 30 per cent, respectively.

Following a recent report by the National Bureau of Statistics (NBS) on capital importation, analysts have stated that Nigeria’s current macroeconomic environment remains highly favourable to foreign portfolio investors (FPIs), predicting further rise in total inflows in 2025.

billion in Q1 2025, the highest in 20 quarters and the largest since Q1 2020’s, which was $5.9 billion.

The NBS had in a report stated that capital imported into the country rose by 10.9 per cent quarteron-quarter to $5.64

On a year-on-year basis, the report said total inflows jumped 67.1 per cent, underpinned by strong foreign appetite for

naira-denominated assets amid relative price and currency stability in the period.

In a review of the figures, analysts at Afrinvest noted that portfolio investment overwhelmingly dominated the flows, rising by 30.1 per cent

q/q and 150.8 per cent y/y to $5.2 billion, accounting for 92.2 per cent of total inflows.

The analysts stated: “For FY:2025, we project capital importation to reach $19.3million, implying a 56.1 per cent y/y increase. The outlook is

informed by favourable domestic interest rate environment and price-currency stability, impact of tariff-war on global investment sentiment and potential for subsequent U.S rate cut.”

^21.00

Nume e keghe

H1: NB, 2 Others Generate N1.09trn from Alcoholic, Non-alcoholic Drink Sales

Kayode Tokede

Despite the high cost of living in Nigeria due to double-digit inflation and the devaluation of the Naira, Nigerian Breweries Plc and two other brewing companies generated N1.09 trillion revenue from sales of alcoholic, and non- alcoholic drinks in the half year (H1) ended June 2025.

The other two companies are: Champion Breweries Plc and International Breweries Plc.

According to their H1 2025 unaudited result and accounts, the

N1.09 trillion revenue is a significant increase of 43.2 per cent from N711.58 billion reported in the half year ended June 30, 2024. A breakdown showed that Nigerian Breweries earned N733.19 billion revenue in H1 2025, about 53 per cent increase from N478.84billion declared in H1 2024.

International Breweries posted N340.99 billion revenue in H1 2025, representing an increase of 53 per cent from N223.2 billion reported in H1 2024, while Champion Breweries announced N15.9 billion revenue

Elektron Finance SPV

Launches a N200bn Bond Issuance Programme

Kayode Tokede

Elektron Finance SPV

Plc a funding vehicle wholly owned by Elektron Energy Development Strategies Limited , a leading energy infrastructure development group

based in Nigeria, has announced the launch of its N200 Billion Bond Issuance Programme and the successful completion of a N4.64 Billion 15year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bond.

in H1 2025, up by 66.9 per cent from N9.5 billion declared in H1 2024.

It was learnt that the revenue growth was propelled by social drinking culture amid

hike in cost of living, and strategic distribution— especially during Easter and Sallah festive seasons.

The industry continued to face significant challenges in 2025 such

Group Business Editor

Eromosele Abiodun

Deputy Business Editor

Chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Energy

Emmanuel Addeh

Asst. Editor, Money Market

Nume Ekeghe

Correspondents

KayodeTokede(CapitalMarkets)

James Emejo (Finance)

Ebere Nwoji (Insurance)

Reporter Peter Uzoho (Energy)

The Series I Bond, guaranteed by Infrastructure Credit Guarantee Company Plc (InfraCredit), which is rated “AAA” by both Agusto & Co. and Global Credit Rating Company (GCR), received approval from the Securities and Exchange Commission (SEC).

The bond issuance marks Elektron’s debut in the Nigerian debt capital markets and was well received by a broad base of institutional investors, reflecting strong confidence in Elektron’s infrastructure delivery capabilities.

as hike in Cost of Goods largely due to macroeconomic headwinds, currency depreciation and higher petrol prices – averaging N939.5/ litre in December after

peaking at N1,184.83/ litre in June 2024. The cost pressures also impacted on operating expenses (OPEX), Foreign Exchange (FX) losses and Finance Costs.

Insurers Seek Prompt Gazetting, Implementation of NIIRA, Commends

Ebere Nwoji

Insurance sector operators have requested for prompt gazetting and implementation of the Nigerian Insurance Industry Reform Act (NIIRA), which was assented to by President Bola Ahmed Tinubu last week.

The insurers commended the president for the latest development saying it represents a bold step

towards strengthening the regulatory framework, enhancing public trust, improving market penetration, and modernising operations within the industry.

Both the Nigeria Insurers Association(NIA) and Nigerian Council of Registered Insurance Brokers (NCRIB)sent their commendations and further requests for the gazette gift he Act to president Tinubu in separate statements.

The NCRIB commended President Tinubu affirming that the law would unlock the huge potentials of the insurance industry in the country.

In a statement, it said that the landmark achievement was a significant milestone in the development of the insurance industry and demonstrates the government’s commitment to creating a more pragmatic, robust and regulated

insurance sector. While also appreciating the pivotal role played by the National Insurance Commission (NAICOM) and the National Assembly (NAS) in ensuring the passage of the law, the NCRIB president, Babatunde Oguntade said the law would usher in a new era of growth, innovation, and protection for insurance consumers in Nigeria.

NCC Launches Corporate Governance Guidelines in Telecoms Sector for Sustainability

The Nigerian Communications Commission (NCC), has launched the guidelines on corporate governance for the telecommunications industry.

The 24-Page Document, which is

segmented into 12 parts, was formally launched by the Executive Vice Chairman and CEO of NCC, Dr. Aminu Maida, 13 years after it was initiated by the NCC. The document is designed to enhance business sustainability in the telecoms sector.

In his keynote address,

Nume Ekeghe

FBS Reinsurance Limited (FBS Re), has posted a robust financial performance for the 2024 financial year, with insurance revenue climbing by 85 per cent to N50.9

billion from N27.5 billion in 2023.

The results, approved at the company’s fourth Annual General Meeting (AGM), also showed a significant rise in Gross Written Premium to N48.9 billion, representing

Maida said the document remained far from being a regulatory instrument, but a document that is more than compliance, designed for the sustainability of networks and businesses; sustainability of investment and innovation; and sustainability of customer

trust and national development.

According to him, the process started 13 years ago, but in 2014, NCC issued the first Code of Corporate Governance for the telecoms sector, initially on a voluntary basis to encourage ethical, transparent practices.

a 56 per cent increase from N31.4 billion in 2023.

Chairman of the Board of Directors, FBS Re, Bala Zakariyau, attributed the performance to the company’s resilience in a challenging operating environment. Zakariyau stated: “Your company has once again recorded improvements in financial performance, particularly in the light of strong macroeconomic headwinds of 2024.”

Emma Okonji

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 07 August-2025, unless otherwise stated.

FIRS, BOI, NITDA Partner ANNIH to Drive New Nigeria Narrative

Oluchi Chibuzor

In order to bolster the President Bola Ahmed Tinubu’s Renewed Hope Agenda, Federal Inland Revenue Service (FIRS), Bank of Industry, BOI), National Information Technology Development Agency (NITDA) and Sahara Energy, have formed a partnership with Lead Projects Africa, a member of the Bullion Projects Group, to unveil the season 2 of “A New Nigeria Is Here: Season 2” (ANNIH S2).

The partnership was unveiled during the media engagement meeting for ANNIH S2 in Abuja.

The organisers stated

that the season 2 of A New Nigeria Is Here documentary series will soon commence airing on CNN, Arise News and local TV networks to reach every corner of the globe.

Speaking at the media parley, Project Coordinator of ANNIH, Mr. Jide Peters said, “This isn’t just a documentary series; it’s a cinematic journey, a weekly exploration into the heart of Nigeria’s transformative odyssey and economic drivers under President Bola Ahmed Tinubu’s Renewed Hope.

“With the endorsement of the Presidency, the Minister of Information and National Orientation, Mohammed

Idris Malagi, and executive oversight from the Office of the Coordinating Minister of the Economy, this landmark project is poised to amplify Nigeria’s powerful emergence as Africa’s undeniable innovation and economic powerhouse.”

He said, “ANNIH S2 is more than a documentary series; it is a vibrant tapestry woven from public and private sector triumphs, blending exclusive, candid interviews with grassroots storytelling and profound policy insights. Each compelling 30-minute episode promises to captivate an estimated 300 million viewers globally.”

Steel Output: NCSP Backs $550m Inner Galaxy Expansion

Nigeria’s industrial capacity is set for a significant lift as Inner Galaxy Steel Company announced a $550 million expansion plan in Ogun State with a projected annual output of 2 million metric tons (MMT).

The announcement came during an official visit by the Director-General of the Nigeria–China Strategic Partnership (NCSP), Joseph Tegbe to Inner Galaxy’s flagship facility in Abia State. Currently producing about 600,000 metric tons annually, the company

believes operational enhancements could lift capacity at the Abia site to 1 MMT per year. The Ogun State facility will be developed in phases, utilising locally available iron ore, positioning it as a strategic contributor to President Bola Ahmed Tinubu’s goal of achieving 10 MMT in national steel production annually. The funding structure for the new project allocates $450 million from Chinese partners and Financial institution and $100 million from Nigerian partners and

Startups To Jostle for N13m GET Grant

Oluchi Chibuzor

The Grooming Endowment Trust Grant Programme (GETGP), has announced the call for application for N13 million grants that focuses on empowering start-ups and their developers in Nigeria.

According to GET, the primary objective of the grant programme is to provide financial assistance, relevant skills to business owners to scale up, navigate through the business environment

and is expected to run from August to October 2025.

Speaking at the announcement of the grant in Lagos, the Senior Programme Supervisor, GET, said, “Applicants must be at least 18 years old while their business must have been in operation for three years. Prospective applicants must ensure that their business be duly registered with the Corporate Affairs Commission (CAC)

institution.

The DG’s visit also highlighted the rise of a broader industrial cluster around Inner Galaxy’s Abia operations. The cluster includes Neway Power Technology Company Ltd, which manufactures roughly 4 million car batteries annually; Jiu Xing Integrity Industries Limited, which fabricates and assembles trailers from CKD and SKD kits; and Starich Recycle Technologies Company Limited, a plastics recycler and manufacturer.

and must be available to attend a two-week workshop in Lagos.”

However, for the Deputy Manager, HR& Admin CREM, Mrs. Lydia Aromolaran, said GET over the years the programme has disbursed over N38 million since inception in 2022.

She revealed that at the GET 4.0 2025, top five businesses would receive two million each and10 winners would also receive N300,000 as consolation prize each after a pitching session.

SheVentures, WENA Partner to Empower 150 Women Entrepreneurs

Kayode Tokede

SheVentures, the womenbanking arm of First City Monument Bank (FCMB), has signed a strategic partnership with the Women Enterprise Alliance (WENA) to support the growth and sustainability of women-led businesses in the North Central region

of Nigeria. As part of the initiative, the top three SMEs emerging from the regional programs will receive business grants of up to N5 million from selected investors and partners. Speaking during the signing ceremony, Group Head, SheVentures at FCMB,

Nnenna Jacob-Ogogo noted: “This partnership reflects our continued commitment to unlocking the potential of women entrepreneurs across Nigeria. At SheVentures, we believe empowering women economically is one of the fastest ways to drive inclusive growth and community development.

(Gabon),

(Iraq),

Export (Kuwait), Es Sider (Libya), Bonny

(Nigeria),

(Saudi Arabia), Murban (UAE) and Merey (Venezuela).

L-R: Project Coordinator, A New Nigeria Is Here, Jide Peters, and CEO, Bank of Industry, Dr Olasupo Olusi, one of the partners during a media engagement on ANNIH Season 2 in Abuja recently.

Stock Market Records N2.84trn Increase in One Week on Positive Momentum

Kayode Tokede

The Nigerian stock market, last week, sustained its positive momentum run for the sixth consecutive week, pushing the market capitalisation by N2.84 trillion on renewed investor interest in Industrial

,Consumer Goods Insurance stocksfollowing the official signing of the Nigerian Insurance Act into law.

As a result, the Nigerian Exchange Limited All-Share Index (NGX ASI) advanced by 3.18 per cent week-on-week to close at 145,754.91

basis points, having touched a fresh high of 146,570.71 basis points during the week.

Correspondingly, market capitalisation surged by N2.84 trillion to close the week at N92.215 trillion, bringing the year-to-date return to an impressive 41.61

per cent.

According to the Exchange weekly report, a total turnover of 8.736 billion shares worth N134.577 billion in 180,290 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 4.847 billion shares

valued at N149.755 billion that exchanged hands previous week in 174,267 deals.

However, investor sentiment remained largely positive throughout the week, as reflected in the market breadth which showed 66 gainers against 41 decliners.

Mutual Benefits Assurance led the gainers table by 60.44 per cent to close at N2.92, per share. AIICO Insurance followed with a gain of 59.82 per cent to close at N3.50, while Royal Exchange went up by 59.33 per cent to close to N2.39, per share.

H1: United Capital Shows Resilience, Extends Five-Year Profit Streak

Despite the prevailing macroeconomic challenges and market volatility, United Capital Plc has recorded impressive growth in its financial results for the half year ended June 30, 2025, writes, Goddy Egene

The business operating environment is highly challenging. Many companies are struggling to survive given the economic headwinds. Only companies with strong operational efficiency and strategic focus are surviving and still posting profit.

One of such companies is United Capital Plc, a leading pan-African investment bank and financial services group. After recording an impressive performance for the 2024 financial year, United Capital has, again, raised investors’ hopes for another bountiful year with the release of its unaudited financial results for half year (H1) ended June 30, 2025. The results show a remarkable growth across key financial indicators, resulting from cost efficiency, and outstanding effective execution of strategy across business lines.

ImPRovEd PERFoRmanCE IndICatoRS

United Capital ended the H1 of 2025 with gross earnings of N23.76 billion, compared to N15.15 billion posted in the corresponding period of 2024, showing a growth of 57 per cent. This growth was majorly driven by uptick in fee and commission income (+80 per cent), investment income (+104 per cent) and net gain on financial assets at fair value through profit or loss (+398 per cent).

Net operating income jumped by 67 per cent to N21.32 billion in 2025, from N12.76 billion in H1 2024. Profit Before Tax(PBT) appreciated by 52 per cent from N9.09 billion to N13.79 billion in 2025, while profit after tax (PAT) grew faster by 54 per cent from N7.74 billion to print at N11.89 billion in 2025.

Shareholders’ funds improved to N166.91 billion, compared to N133.50 billion as at December 31, while total assets stood at N1.59 trillion, compared to N1.70 trillion as at December 31, 2024. The shareholders’ funds grew by 25 per cent driven by seven per cent growth in retained earnings and 36 per cent increase in the fair value reserve during the period. In line with its promise to continually delight its shareholders, the company has announced the payment of interim dividend of N5.4 billion, representing N0.30 kobo for every 50kobo ordinary share subject to withholding tax. Since H1-2020, United Capital’s profitability has surged by over 522 per cent, rising from N1.91billion in 2020 to N11.89 billion in 2025, while revenue

has also grown significantly from N4.45 billion to N23.76 billion. This performance, the company said, demonstrated its resilience and ability to deliver value year after year, despite shifting economic conditions.

GRoUP CHIEF ExECUtIvE oFFICER’S CommEntS

Commenting on the performance, the Group Chief Executive Officer, Mr. Peter Ashade, said:“I am pleased to inform all stakeholders that United Capital Plc ended the first half of the year on a strong and positive note, continuing our track record of excellence and strong financial performance, as demonstrated by our remarkable earnings growth and robust performance across key financial metrics, despite the prevailing macroeconomic challenges and market volatility.”

“During the period under review, we recorded significant financial growth, with gross earnings increasing by 57 per cent to N23.76 billion. PBT grew by 52 per cent to N13.79 billion, PAT rose by 54 per cent to N11.89 billion while shareholders’ funds grew by 25 per cent to N166.91 billion, a testament to the strength of our capital base and the confidence reposed in us by our investors. These results reflect the resilience of our business model, the dedication

of our people, and the effective execution of our strategy across our business lines.

“As we look ahead to the second half of the year, we remain focused and firmly committed to sustaining this strong performance. With a solid foundation, a clear strategic direction, and our retail and pan-African play in full-force, our business is well-positioned to continue delivering superior returns to shareholders and providing best-in-class solutions to all our stakeholders.”

He added: “We are pleased to report that we ended the first half of the year on a strong and positive note. Once again, we have continued our track record of excellence and strong financial performance, which reflects the strength of our diversified business model.

Last year, we made history by declaring our first-ever interim dividend, alongside a 2-for-1 bonus issue, which was met with great enthusiasm by our shareholders. This year, we continue to honour our commitment by declaring another interim dividend of N5.4 billion, reinforcing our dedication to delivering sustainable returns and enhancing shareholder value.”

“Looking ahead, United Capital remains focused on driving retail expansion and deepening its presence across

the African continent. Following its recent expansion into Francophone West Africa, the group continues to execute its pan-African strategy with precision. With a strong foundation and a clear strategic direction, the group is well-positioned to finish the year even stronger and continue delivering value to shareholders, clients, and communities across Africa.”

ExPandInG FoR moRE valUE CREatIon

Stakeholders believe United Capital has very bright prospects of finishing the second half of 2025 stronger and delight all stakeholders with improved value at the end of the year. According to them, the decision of the group to launch United Capital Asset Management West Africa Limited(UCAMWAL) in Abidjan, Côte d’Ivoire, was a strategic and visionary move that will sustain its impressive performance going forward.

That expansion marked a significant milestone for the group as United Capital is the first Nigerian investment management group to be licensed by the Financial Markets Authority of the West African Economic & Monetary Union (AMF-UMOA). The group now has licence to conduct investment management services (portfolio management, mutual funds, financial advisory) in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. With Abidjan as its regional headquarters, United Capital is strategically positioned to deliver world-class financial services tailored to the region’s dynamic economic landscape.

“We are here not just to participate, but to partner—to bring transformative wealth creation to this region while upholding the highest standards of compliance, transparency, and integrity. With over 60 years of experience in investment and financial services management, we understand that trust is the currency of our industry, and we intend to earn it every single day,” it said.

Ashade had explained that the expansion was not just about physical presence.

“It is about impact. We are here to work with local economies, governments, and partners to build a more prosperous Africa. Our vision is pan-African, and our mission is generational wealth creation and sustainable development,” he said.

Ashade

HomeS & Design

The Galilee: Welcome to Nigeria’s Iconic Affordable Luxury in Banana Island

The g alilee is designed as an iconic building featuring affordable luxury apartments, catering to only a select few discerning individuals. Bennett o ghifo writes

The Galilee is designed and rendered as a functional, luxurious building that rises to 18 floors and spans 2,000 sqm of prime land on Banana Island, Lagos.

The edifice is situated on Kwara Street in Banana Island, Lagos, a prestigious gated community that is also the most sought-after piece of luxury real estate in this part of the world, according to its promoter, Gloch Stylistic Limited, which provides services in all real estate sectors. “We have, therefore, spared no expense in designing the architecture of this building, paying special attention to the details that make the difference and, in the same vein, unveiling the world’s best technology,” said

the company.

The environment is serene, well-planned and secure with lovely waterfront areas, designated children’s play areas and estate facilities that are provided for the comfort of its residents.

“The security in this area is second to none, with very strict adherence to safety codes and conducts. The building is designed to have 38 apartments,” the firm stated.

It added, “We have 20 floors of pure luxury, which will make it one of the tallest buildings in Banana Island at completion. We have 28 units of high-luxury four-bedroom maisonettes with two BQs sitting on 456sqm.

“There are also two units of five-bedroom maisonette penthouses with two BQs, which measure 1000sqm. Each has three designated parking spaces with the generous multilevel car park available in the building.”

Amenities in the edifice include centralised air conditioning, centralised water heating system, fully smart homes with automatic control systems and CCTV.

Other features include a fully equipped kitchen and laundry facilities powered by Miele, 24/7 concierge services, smarthome technology, passenger and service elevators, and recreational facilities, including a pool bar

located on the fourth floor.

Gloch Stylistic Limited is “a rapidly growing indigenous real estate and property development company committed to bringing the dreams of people to life.”

The firm has carved out a niche for itself by focusing its expertise on luxury high-rise apartments, in line with its mission statement, ‘We make luxury affordable’. It said, “We have improved on standards by harnessing the new building technology available and designing more efficient projects that are not only affordable but also imbibe structural and environmentally safe construction processes. We also painstakingly adhere to all building codes as required.”

08097710984 (WhatsApp only) alekhuogien@yahoo.com

This Week In Tech Tech Top 5 News

MTN, AIRTEL

POST TRILLIONS IN DATA REVENUE AS CONSUMPTION SURGES

Nigeria’s two largest mobile operators, MTN Nigeria and Airtel Nigeria, posted record-breaking data revenues in the second quarter of 2025, underscoring the country’s rapid shift towards mobile internet services and away from traditional voice calls.

According to financial results released this week, MTN’s Q2 2025 data revenue rose 85.6% year-onyear to N701 billion, compared with N377 billion in Q2 2024. Airtel’s data revenue grew 60.3% to N260 billion (approximately $168 million), up from N185.4 billion ($117 million) in the same period last year.

This growth comes despite ongoing macroeconomic challenges, including high inflation, volatile foreign exchange rates, and persistent energy costs that have pushed up network operating expenses.

Figures from the Nigerian Communications Commission (NCC) show that 1.04 million terabytes of mobile data were consumed in May 2025 alone, the highest monthly total in over two years. Data traffic in Nigeria has now more than doubled since 2022, fuelled by smartphone affordability, cheaper 4G handsets, and the early rollout of 5G in urban centres.

MTN reported that its average data usage per subscriber reached 13.2GB per month in H1 2025, a 26.3% increase from 10.4GB in the same period last year. Airtel subscribers averaged 9.3GB per month, up from 7.3GB in H1 2024. Both operators say video streaming led by platforms such as YouTube, Netflix, and TikTok accounts for more than 65% of all data traffic.

For MTN, data contributed 46% of service revenue in Q2 2025, up from 34% in Q2 2024, while for Airtel, data accounted for 43% of service revenue, compared with 31% a year earlier.

To meet surging demand, MTN invested N565.7 billion in network expansion in H1 2025, a 288.4% yearon-year increase, adding 240 new 4G sites, upgrading 5G coverage in Lagos, Abuja, and Port Harcourt, and expanding its national fibre footprint by 1,200km. Airtel Africa has allocated $39 million for Nigerian capex so far in 2025, with plans to double this figure by year-end to accelerate rural connectivity and 5G rollout.

Industry analysts say the trend reflects Nigeria’s broader economic shift towards digital services. Voice is becoming secondary while data is the new driver of ARPU (average revenue per user), and Nigerian consumers are proving that connectivity is not just an add-on, but a core household expense.

TECH PERSONALITY OF THE WEEK

Philip Olajide-Philips: Brains Behind KorinAI Champions Cause of Dyslexic Children

However, the sector faces structural risks. Rising diesel prices for powering cell sites, vandalism of fibre lines, and ongoing security issues in rural areas could slow expansion if not addressed.

GOOGLE UNVEILS AI STORYBOOK FOR NIGERIAN FAMILIES

Google has introduced Storybook, a new AI-powered creative tool within its Gemini app that allows Nigerian families to generate short, narrated stories from photos, children’s drawings, and other personal images. The free service, which went live this week, aims to modernise Nigeria’s rich oral storytelling tradition while boosting early childhood education.

According to Taiwo Kola-Ogunlade, Google’s Communication and Public Affairs Manager for West Africa, the tool is particularly timely for Nigeria, where an estimated thirty-nine million children are below the age of six and the demand for engaging, personalised learning content is high.

“In a country with such a

ANigerian software developer, AI researcher, and tech entrepreneur, is pioneering KorinAI, Africa’s first AIpowered music generation platform.

The tool enables users to create highquality music tracks from simple text prompts, voice samples, or genre selections, with built-in mastering and distribution to streaming platforms.

Philip’s path to KorinAI includes winning the BuildwithAI Hackathon 2024, where he developed the first MacBook voice assistant and a dyslexia-friendly assistant for children. He founded Pitxhost, a private web server provider, and launched Finlig in 2020, an edtech platform that has trained over 10,000 people in digital skills.

KorinAI’s team combines music technologists, AI researchers, and creative musicians. Philips himself produced his second album entirely with AI, without the assistance of a human producer. He says the platform is designed to “empower artists of all levels,” offering an accessible alternative to traditional studio production. By merging AI with Africa’s growing music industry, KorinAI aims to lower barriers for independent artists, expand creative possibilities, and potentially reshape how music is made and distributed on the continent.

vibrant history of passing down knowledge through stories, Storybook feels like a natural evolution,” Kola-Ogunlade said in a statement recently. “It addresses a real need for parents and educators looking for fresh ways to captivate young learners.”

The tool enables users to place a child at the centre of a customised adventure. By uploading a photo or drawing, Gemini generates a 10-page illustrated tale complete with narration. Google says families can use the feature to explain professions, relive memorable events, or create cultural tales as personalised keepsakes.

In a tutorial video, Google demonstrated Storybook’s capabilities with a prompt: “Can you make a storybook for my 2- and 4-year-old daughters explaining my career in the style of a colouring book?” The result, the company said, was an interactive and child-friendly narrative ready for sharing.

Storytelling, KolaOgunlade stressed, remains “fundamental to how we connect and learn,” with the AI’s most valuable aspect

being “the personal expression it enables.”

NCC WARNS OF TELECOM INFRASTRUCTURE CRISIS

The Nigerian Communications Commission (NCC) has raised an alarm over escalating damage to telecom infrastructure, reporting that major operators now suffer an average of 1,100 fibre cuts every week. The incidents, affecting providers including MTN, Airtel, and 9mobile, are compounded by 545 weekly access denial cases and 99 theft incidents, according to data disclosed at the Critical National Information Infrastructure and Sustainability Conference in Lagos recently.

“These are not just numbers. They reflect a national emergency,” said Dr. Aminu Maida, Executive Vice Chairman of the NCC, in remarks delivered by Edoyemi Ogoh, the Commission’s Director of Technical Standards and Network Integrity. “Every fibre cut, theft, and sabotage leads to dropped calls, failed transactions, interrupted emergency services, and economic losses.”

NOTE:

INTERVIEW

Tonya Lawani: Networking, Resilience Are Essential Strategies for Business Success

Tonya Lawani stands out as a dynamic leader and seasoned entrepreneur whose influence spans multiple industries in Nigeria. As the CEO of Seal Group, she successfully steers a diverse conglomerate with interests in manufacturing, advertising, hospitality, retail, medical supplies, and more. Her leadership extends beyond her company, with board memberships in several SMEs, the Corona Schools Trust Council, and most notably, NASCON Allied Industries Plc—a key player within the Dangote Group. In this interview with THISDAY, Lawani shares her perspectives on the vital roles of integrity, networking, and resilience in the business world. Drawing from over 20 years of experience, she reflects on her journey as a female top executive navigating challenging economic landscapes, underscoring the importance of vision, trust, and collaboration. Lawani’s story is both an inspiration and a blueprint for emerging entrepreneurs committed to growth, innovation, and sustainable impact in Nigeria’s evolving business ecosystem. Excerpt

What has been your experience as a female top executive? Would you say women are not meant for the boardroom?

Certainly, not. Rather, the female folk bring dynamism and competence into the boardroom. Today, scores of Nigerian women sit on the boards of many successful companies. I don’t want to mention names, but if you examine the leadership of several Nigerian banks and highly successful international companies, you will find many women exhibiting a rare combination of competence and focus in driving their respective companies. In the public sector, many of them are bringing innovations as heads of many Ministries and parastatals. What is required is vision, the right team, and readiness to play the game with their male counterparts. Look at the universities, a number of the Vice Chancellors are women, professors in their areas of competence. The same thing goes for international organisations like the United Nations and the World Trade Organisation. For me, being a female manufacturer and a member of the Institute of Directors who sits on the boards of one of Dangote Group, as well as a few Micro Small and Medium Enterprises (MSMEs), in a tough economy is no tea party, more so in the last two years. But even as the managing director and CEO of Seal Group, with offices in Lagos and Benin, I have reasons to soldier on and be a source of motivation to younger entrepreneurs.

What is your view of the economic policies of President Bola Tinubu in the last few years?

As I mentioned in my previous interventions, it has been a mix of sweet and sour, but we can’t deny that there has been some improvement in certain sectors. Top among his eight-point agenda was the economic recovery policy. If you look at them altogether, you would see that the policies are well-intentioned, because they speak to the core issues affecting Nigerians. I believe that the policies are built around the long-term economic strength of the nation, which is dependent on how we deploy idle men, material, and machines into productive endeavors. The deregulation of the naira is one example, and we have seen the outcome. However, when the exchange rate nose-dived, the Central Bank of Nigeria (CBN) intervened to avoid a free fall of the naira. So, this has led to a measure of reduction in the cost of importation and doing business. This administration has promised to address issues of food security, poverty eradication, economic growth, job creation, access to capital, inclusion, the rule of law, and combating corruption. We want to see this in action as the government enters its second year in office.

What would you identify as a critical success factor in business?

There are no alternatives to vision, networking, trust, integrity, and resilience in the business world. Your vision must be clear from the onset, followed by building a team that will help to achieve that vision. As it is often said, if you recruit the right team and motivate it, the sky is the limit in your beginning, and vice versa. If you get it wrong from the point of recruitment, by sacrificing competence and cognate experience on the altar of favouritism, you are doomed. You also can’t rule out the issue of trust. A single client you satisfy would lead to thousands more through referrals. The point is, you thrive on your reputation, where trust is built.

How has your upbringing influenced you?

Growing up in Kaduna while being from Edo State taught me the significance of inclusivity and understanding various perspectives. Fluently speaking Hausa, English, and French helped me build genuine connections across communities and deepened my appreciation for cultural richness and relationships. My family instilled in me the values of discipline, hard work, and integrity, which have become the compass guiding my every decision. This upbringing taught me that true success transcends personal achievements; it lies in making a meaningful impact, uplifting others, and contributing positively to society. This belief fuels my dedication to mentorship, social impact initiatives, and empowering young entrepreneurs.

What are some of the biggest challenges

and roadblocks you encountered during the initial phase of your career journey?

Starting as a young woman entrepreneur in Nigeria came with its own set of unique challenges. Earning credibility in maledominated industries required relentless commitment, exceptional performance, and a continual need to prove my competence. Navigating the unpredictable Nigerian business environment presented hurdles like inconsistent policies, infrastructural gaps, and a challenging regulatory landscape. In the early years, gaining access to financing and building trust with large corporate clients were also significant obstacles. Additionally, introducing new concepts like advertising inflatables necessitated changing entrenched mindsets and educating clients on the value of innovative marketing tools.

Could you provide us with a brief overview of your educational background, family history, and career?

I was born to Prince S.E.A. Lawani and Mrs. Omoyeme Lawani (retired DCP) and the youngest of seven siblings. Although I hail from Edo State, I was born and raised in Kaduna State. For my secondary education, I attended Federal Government College in Bwari, Abuja. I earned a Bachelor of Science degree in Economics from the prestigious Ahmadu Bello University in Zaria. I later completed my MBA at the Metropolitan School of Business & Management in the United Kingdom.

Driven by a desire to enhance my leadership skills, I participated in the Owner Manager Programme (OMP 17) at the Lagos Business School, which is known for its distinctive approach to teaching leadership and business management in West Africa. I also attended the Company Direction Course (The Effective Directors) at the Chartered Institute of Directors, where I am a member. Additionally, I have taken several management and leadership courses at Harvard University, including Contract Law, Strategic Project Management, and Data Visualisation, among others.

I am a seasoned entrepreneur with over 20 years of experience. My entrepreneurial journey began as a university undergraduate with a passion for trading, which helped me develop essential business skills. Currently, I serve as the Group Chief Executive of Seal Group, a conglomerate with diverse business interests including manufacturing, advertising, hospitality, retail, medical equipment procurement and supplies, print media, branding, and general merchandising. She oversees the successful operation of all its subsidiaries, which include Virgin Vie Angel Limited, The Virgin Hospitality Company, ABC Inflatables Nigeria Ltd, Expose Et Al Limited, and The Quick Print Shop Limited.

Casting your mind back now, was there anything in your childhood that

prepared you for your current status?

My parents instilled discipline and an entrepreneurial mindset from an early age, encouraging me to see opportunities where others saw obstacles. Even as an undergraduate, I began trading, an experience that taught me to be resourceful and a risk-taker.

What were your past experiences, achievements, and lessons that shaped your journey?

My journey into entrepreneurship began as an undergraduate at Ahmadu Bello University in Zaria, where I explored my passion for business through trading. After graduating with a degree in Economics, I was motivated by a strong desire to empower Nigerians and create wealth. In 2005, I founded Virgin Vie Angel Limited (VVA), which focuses on corporate branding and merchandising. Establishing VVA taught me the importance of innovation and consistency in delivering value, principles that continue to guide my businesses today. In 2006, I ventured into advertising by launching ABC Inflatables Nigeria Limited, a company that pioneered the use of inflatables for brand advertisement in Nigeria. This innovative approach required courage, creativity, and the ability to educate the market about new possibilities. The establishment of The Virgin Hospitality Company in 2010 further solidified my belief in building vertically integrated solutions. This company has become a trusted partner for over 1,000 hotels, significantly shaping Nigeria’s hospitality branding landscape. Over time, I recognised the value of controlling the entire value chain to ensure quality and efficiency. This insight led me to create The Quick Print Shop Limited, enabling the SEAL Group to manage its production needs internally and provide printing solutions to top organisations nationwide. Each of these milestones has taught me resilience in the face of challenges, the power of vision and adaptability, and the importance of nurturing a strong team.

What keeps you motivated?

My daily motivation comes from solving business challenges, creating opportunities, and making a positive impact. I am also deeply inspired to mentor the next generation of African entrepreneurs.

Could you provide one line that describes your style and approach to leadership?

My leadership style is purpose-driven, focused on people, and grounded in innovation and integrity. It is transformational leadership, and this has been very helpful in motivating my staff to work and be committed to their duties with passion, with opportunity for growth, thereby bringing them fulfilment and personal satisfaction.

TonyaLawani

FEaturEs Woman Seeks Justice in Gruesome Murder of Husband, Son in Rivers State

Since the gruesome murder of the Chief Security Officer of the Amiesimaka Adokiye Stadium, Jeminiwa Richard Timothy, and his 23-year-old son, Silas, by suspected assassins in his house at Igwuruta Town, Ikwerre Local Government Area of Rivers State, the victim’s widow and other family members are yet to recover from the shock. Blessing Ibunge, who spoke with the widow, reports that she is appealing to the Inspector General of Police, the government at state and federal levels, and the international community to ensure that the victims get justice

“My son had just graduated from the University of Port Harcourt. The day of his burial was the day his project was brought home. They killed him and his father the same day. I don’t know where to start. Every day of my life, I’m in pain. Please, find justice for me,” lamented the widow of the slain CSO of the Amiesimaka Adokiye Stadium, Jeminiwa Timothy, as tears streamed down her cheeks.

On Friday, January 31, 2025, the joy and peace of a family of five was cut short. Mr. Jeminiwa Richard Timothy, a retired Corporal with the Nigerian Army and at the time the Chief Security Officer of the Amiesimaka Adokiye Stadium in Rivers State, had gone out in his Hilux van alongside his wife, Mrs. Jeminiwa Grace Ebun, leaving their children in the care of their eldest son, 23-year-old Silas.

At about 9 p.m. the same day, what should have been a joyful welcome home turned into a bloody nightmare. Suspected assassins, allegedly targeting the CSO, had already struck. Silas, believing it was his parents at the gate, opened it to usher them in, unaware it was a group of trigger-happy gunmen. Acting on alleged orders, they shot the young graduate dead before realising he was not their intended target.

Realising their mistake, the gunmen reportedly exclaimed: “We have killed the wrong target.” Confusion arose among them, but with no immediate security response, they decided to wait for the real target. When Jeminiwa Timothy and his wife arrived, they were initially puzzled by the presence of strangers in front of their home, but it was too late to reverse their vehicle. The armed men, spotting the Hilux, immediately ambushed them, approached the intended target, and shot him twice in the forehead. The breadwinner and father of a peaceful family had been cut down.

It was a horrifying sight for his wife, whom they initially attempted to abduct. However, on second thought, they released her, it was not a kidnapping but a targeted killing. They instead hurried to assist one of their gang members, who had earlier been shot in the leg for killing the wrong target.

A Widow’s Recollection

Rejecting the claim by police that it was a kidnapping and not assassination, the widow who recently buried her slain husband and son in Ayetoro Gbede, in Ijumu LGA of Kogi State, cried that since the incident she has been living in pain. She lamented that her 60-year-old husband was innocently killed, and recalled that there had been previous threats and attacks on the state government property he was securing. She recounted one of the earlier

incidents that she believes may have led to the killing: “One of the times they looted from that stadium, around 5 a.m., somebody called my husband that they came to loot there. He didn’t go with the car, only with a torchlight.

“Immediately he got to the stadium before the suspect, the man told him to turn off his torchlight. My husband moved towards him, held him by his trousers, and asked what he was doing there at that time. The man said to Oga Timo, ‘I don’t know how to say na you. I came to your house knocking when they were looting.’ In the end, he said he knew the people who came but didn’t participate.

“My husband then called the neighbours and the father of the suspect, saying it would not be right for the boy to end up in prison through him. He told the father to talk to his son to stop going there to loot. Another time, he arrested someone else at the stadium.

“When they questioned him, he claimed he was a soldier, but they later found out he was a student.

My husband handed him over to the DPO, CSP Emmanuel Ifeanyi.

The next day, the DPO called my husband, saying there was ‘power from above’ ordering the suspect’s release. My husband objected. Within 24 or 36 hours, another set came, arriving in a self-loader SUV.”

She said her husband was at home when he got another call that people were at the stadium. When he arrived, he found the driver of the SUV was a retired soldier. Inside the vehicle, there was a military uniform, cutter, and gas cylinder, items she believes were intended for an attack. Her husband took the items to the police station.

“The next day, when my husband and the stadium accountant, Mr. Adewunmi, went to write a statement, they found people already preparing to tow away the SUV. The DPO said he wanted to bring the Commissioner.

My husband asked why, since he had not even written his own statement yet. When he tried to take pictures of the plate number and the items,

the police stopped him,” she said.

Mrs. Jeminiwa alleged that despite repeated reports of attacks on the stadium, the police downplayed the incidents. She said the company managing the stadium, Deux Project Limited, eventually directed her husband to move their materials to another yard. While they were doing so, police tried to arrest his workers despite being shown documents permitting the removal.

She firmly believes the killing of her husband was connected to his steadfastness in protecting the stadium:“As my husband was in that stadium, that’s why they have not emptied it. Everybody there knows that Timothy was the one that held that stadium. Rivers people should please help me to find justice for the killing of my son and my husband. I’m traumatised every day of my life. They should not leave me alone.”

She said the police arrived more than an hour after the killing, by which time her son had died in hospital. “I don’t believe in the case of kidnapping, because a kidnapper will take someone away and demand ransom. In this case, they came straight to shoot him in the head and chest. One of them, while trying to help his wounded colleague, told me they came for the man who drove the Hilux, not for me.”

Mrs. Jeminiwa said she is not satisfied with the police investigation, alleging that her and her husband’s phones remain with the police without any progress in tracking suspects. “These people are not kidnappers. They are hired assassins. The autopsy showed they shot my husband in the head and chest, and my son too. From the look of things, someone was inside the house, and when they entered, they first shot my son before my husband.”

She recounted that as they approached home that fateful day, she and her husband heard gunshots. “By the time we reached the house, I saw my husband face down. They started taking him towards the stadium. I was shouting, ‘God of Adeboye, is

this how my family will end?’ One of them shouted at me to shut up. They later told me, ‘Nor be you we dey find, na that man wey carry Hilux.’ They dropped me, and neighbours came out to help. My other children only came out after hearing my cries.”

The attackers took her phone, wallet, bank cards, car documents, and her husband’s military ID, which she said she was yet to recover till now.

Police Reaction to the Incident

Following the incident, which occurred on 31 January, the Rivers State Police Command, through its spokesperson, SP Grace Iringe-Koko, issued a statement saying that the Command had commenced investigation into the killing of the father and son.

In her words, SP Iringe-Koko said: “The Rivers State Police Command is aware of a tragic incident which occurred on 31 January 2025, at about 23:40 hrs in Rivers State, where one Timothy, a 59-year-old Chief Security Officer (CSO) of Adokiye Amiesimaka International Stadium, Omagwa, Port Harcourt, and his first son were brutally murdered by unknown gunmen.

“The Igwuruta Division of the Rivers State Police Command received a report from Omolara, Timothy’s daughter, stating that four unknown gunmen ambushed her father and brother, shooting them severely in the head, which resulted in their deaths. The police swiftly responded to the scene, recovering three expended AK-47 cartridges. The victims were rushed to hospital, but unfortunately succumbed to their injuries and were confirmed dead by the doctor on duty.”

The police spokesperson assured that the State Commissioner of Police, Mr. Olugbenga Adepoju, had directed the deployment of all necessary intelligence to apprehend the fleeing suspects and bring them to justice. On March 11, 2025, however, the Command issued a fresh statement revealing that some suspects had been arrested in connection with the crime, but claimed there was confusion over whether it was a kidnapping.

Late Cpl Jeminiwa Richard Timothy 23-year-old late Silas Jeminiwa

Mrs Edun Grace Jeminiwa

How NDDC Road Project Sparked Celebration in Abia Community

The people of Umuobasiukwu Kingdom in Ozuitem, Bende Local Government Area of Abia State, recently turned the flag-off of an NDDC emergency road project into a day of jubilation. For a community long cut off by decades of inaccessibility, the commencement of the Umuikwuoma–Ozu and Ozuitem roads, complete with solar streetlights, was nothing short of historic, Emmanuel Ugwu-Nwogo in Umuahia reports

The excitement that hung in the air was palpable as the people of Umuobasiukwu Kingdom, Ozuitem in Bende Local Government of Abia State swirled in celebration. The gaiety in this rural community recently gave the impression of a communal festival. But it was neither a cultural nor a religious festival. It was the celebration of the flagging-off of the emergency construction of Umuikwuoma–Ozu Road and emergency construction of Ozuitem Road with solar street lights.

The road project meant so much to the benefiting communities, hence the celebration. Cannons boomed to herald the flag-off. A group of joyous women sang and danced, moving in a procession from the road junction where the flag-off ceremony was staged to the palace of the traditional ruler, Eze John O. Akaliro, Obasiukwu II of Umuobasiukwu Kingdom. The merry women chanted “Chineke, ihe I mere di nma”, which translates to What God has done is good. It was an acknowledgement that it could only be through divine intervention that the community was considered as a beneficiary for the emergency road project. This divine intervention was accentuated by the traditional ruler of Ndiagho, Eze Hardy O. Ejikeme, who declared that “after many years God has heard our cries and raised up” the person that attracted a road project. “This is the development we have been yearning for,” he said. The royal father stated that the construction of the road leading to Ndiambe would definitely change the social and economic life of the community.

It would appear strange that a community would turn the flag-off of a road project into a festival of sorts. But they have their cogent reasons to celebrate. Ndiambe has remained inaccessible for decades, and it has been tales of deprivations and hard life for the forgotten community. Burial of the dead in the community poses challenges due to the difficult terrain. Mrs. Comfort Ewelike said that ambulances “can’t enter our community because there is no road”, hence the body of a dead person would usually be conveyed up to the junction

leading to the community. From there, youths would take over and carry the corpse into the community for the funeral ceremony. Mrs. Ngozi Eke, a trader, said that conveying goods to her shop is a herculean task. According to her, whenever she went to buy goods in the city, the vehicle that would bring her home would discharge her goods at the junction “because there is no road into her community. I would carry the goods on my head to my shop and it’s not an easy thing for me to do at all,” she said. Iheoma Anyalechi noted that the commencement of construction work on the road was enough cause for joy as “nothing like this has ever happened here before”. The roaring of the excavator signalling commencement of work was greeted with cheers by the crowd of people that came for the flagging-off ceremony.

The Niger Delta Development Commission (NDDC), which awarded the road contract, categorised it as “emergency road construction”. The interventional agency is currently driving accelerated connection of the rural communities with good roads in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu administration. During the site handover at the royal father’s palace, which preceded the flag-off ceremony, Eze Akaliro expressed his people’s gratitude to the NDDC. “We are happy that we are now being remembered as part of NDDC,” he said. The traditional ruler recalled that in the past, NDDC projects were concentrated in the riverine areas, mostly in the South-South zone component of the coverage area of NDDC.

Akaliro stated that his people have accepted the road project wholeheartedly and assured the NDDC team, led by a director, Engr. Joy Eucharia, that the community would provide every assistance needed to ensure the completion of the road project. He thanked NDDC for awarding the contract to Karm Offshore Services Limited, a firm owned by an indigene of Ozuitem,

Mark James. “The contractor is our son,” he enthused, pointing out that Mark James, who is the Managing Director of Karm Offshore Services Limited, understands and appreciates the yearnings of his people, hence he would see to the completion of the project without delay.

Some high-profile personalities from Ozuitem were at the flag-off event to lay credence to the importance attached to the construction of Ndiambe Road.

DIG Azubuko J. Udah (rtd) said that the construction of the road would open up the community to new opportunities, boost the local economy and improve social interactions. “We are happy today that the construction of Ndiambe Road is becoming a possibility,” he said, adding, “this road will be transformed from impassable to passable”.

Udah noted that Ozuitem has been primed for development and should indeed prepare to embrace more developmental projects, given that the entire area falls within the radius of Umuahia capital territory. He called for love and unity among the people of Ozuitem in order to expand opportunities for attracting developmental projects.

Prior to the road flag-off, a team of NDDC officials were at the palace of Obasiukwu II for the “site handover”.

The project officer for the emergency road construction, Engr. Ndubuisi Nkwoka, who spoke for the NDDC team, explained that it was customary for the agency to formally hand over its project to the benefiting community once the site has been identified and confirmed. The handover form was then signed by Eze Akaliro and two others, including a representative of youths of the community.

In fact, Nkwoka harped on the need for youths to cooperate with both the NDDC and the contractor, saying that youths usually constituted major stumbling blocks to timely execution of NDDC projects. However, he assured the community that, apart from jobs that require technical competence, every other job associated with the road

project would be handled by indigenes. The project officer also stated that NDDC made the right choice in engaging Karm Offshore Services Limited (a subsidiary of Gas Group) to handle the project. Engr. Nkwoka expressed confidence in the contractor’s technical competence, saying that the firm has the capacity to execute the road project according to specifications. He further stated that the NDDC team had inspected the array of equipment deployed to the project site by the contractor. According to him, the equipment are in good condition, hence there won’t be any fear of equipment breakdown which could cause delay in completing the job on schedule.

NDDC got every assurance it needed to proceed with the execution of the project. Eze Akaliro told the team that “we don’t make demands on NDDC”. He said that his people would instead readily provide every assistance needed to facilitate the road construction as a way of expressing their gratefulness for being a beneficiary of the road project. He gave firm assurance that youths would neither disturb NDDC nor the contractor and would also not disrupt work on the road. The Umuobasiukwu royal father even offered accommodation to the NDDC officials in his palace to enable them have a comfortable place to stay while supervising the project.

These good gestures contrast with what obtains in some communities where youths would impose on NDDC payment of ground rates, protection fees, among other frivolous demands. Usually, the ungrateful youths would insist that their demands must be met before the project could take off, even though it was meant for the development of their community. But NDDC and its contractor would not encounter such disruptive activities at Umuobasiukwu Kingdom. Apart from the royal assurances of Eze Akaliro, the Youth President, Chijioke Obuji, also gave his words that youths would not in any manner disrupt the project. He told THISDAY that the support and cooperation of youths is well guaranteed.

The road undergoing construction

Personnel of Karm Offshore Services Limited with NDDC Team at the project site

MUTUAL BENEFITS HOLDS 28TH & 29TH AGM...

SERAP, NGE Sue Niger State Gov, NBC Over Badeggi FM

The Socio-Economic Rights and Accountability Project (SERAP) and Nigerian Guild of Editors (NGE) have filed a lawsuit against Governor Mohammed Umar Bago of Niger State and the National Broadcasting Commission (NBC) over intimidation of Minna-based radio station, Badeggi FM, and the threat to shut and crack down on the station using law enforcement.

Governor Bago recently directed security operatives to seal Badeggi FM, with threat to revoke its license, demolish the station’s premises, and profiling

the station's owner, Shuiabu Badeggi.

In the suit filed on Friday, with number FHC/L/ CS/1587/2025, at the Federal High Court, Lagos, SERAP and NGE are asking the court to determine “whether, by section 22 of the Nigerian Constitution 1999 (as amended) and section 2(1) (t) of the NBC Act, the NBC has the duty to protect Badeggi FM from the ongoing intimidation from the governor.”

SERAP and NGE are asking the court for “a declaration that by the combined provisions of section 22 of the Nigerian

Constitution and section 2(1)(t) of the NBC Act, the NBC has the legal duty to protect Badeggi FM and other broadcasting outlets in Nigeria from any intimidation and undue interference.”

SERAP and NGE are seeking “an order of perpetual injunction restraining Niger State governor and NBC from harassing, intimidating and/ or threatening to shutdown Badeggi FM and revoke the licence of station.”

In the suit, SERAP and NGE are arguing that: “the failure and or neglect of the

NBC to protect and defend the independence of Badeggi FM radio against arbitrary executive interference constitutes a breach of its statutory duty to ensure fair, independent, and lawful broadcasting practices in Nigeria.”

SERAP and NGE are also arguing that, “the ongoing intimidation, and threat by Governor Bago to strip Badeggi FM station of its operational licence, further threat to demolish the station’s premises and to profile the station’s owner is unlawful and a violation of the rights to freedom of

HURIWA: Tinubu’s State Capture of Judiciary, Legislature Pushing Nigeria into Dictatorship

Chuks Okocha in Abuja

Human Rights Writers Association of Nigeria (HURIWA) has accused President Bola Tinubu of presiding over an incipient dictatorship in which the executive has captured the judiciary and legislature, rendering both arms of government impotent and subservient.

In a statement issued in Abuja on Sunday, the association said Nigeria was “on the brink of

democratic annihilation”, as judicial independence collapsed under the watch of Chief Justice of Nigeria (CJN) Justice Kudirat Kekere-Ekun, and the National Assembly degenerated into a political annex of the presidency.

The statement by the body’s National Coordinator, Emmanuel Onwubiko, said, “The Nigerian judiciary under the current CJN has been reduced to a timid, corrupt, and compromised shadow of itself, incapable of delivering justice in any matter

that affects President Tinubu or his political cronies.”

It added, “The National Judicial Council (NJC) is now a polluted sanctuary of inefficiency and poor governance standards, with its leadership firmly on the side of the president and the All Progressives Congress (APC).”

The group cited the political clout of Federal Capital Territory (FCT) minister, Nyesom Wike, who, it alleged, had enjoyed an unbroken string of judicial

victories under the current dispensation through “suspected insider compromises, unethical collusion, and abuse of judicial influence” in the Federal High Court, Court of Appeal, and Supreme Court.

HURIWA described as a “national embarrassment” the Supreme Court’s refusal to even fix a hearing date for the suit challenging the “illegal and unconstitutional” suspension of the Rivers State governor, Siminalayi Fubara.

Momodu Applauds FG For Compulsory NDLEA Integrity Drug Test for Students of Tertiary Institutions

Linus Aleke in Abuja

Frontline crusader against drug abuse, retired Deputy Commander General of the National Drug Law Enforcement Agency (NDLEA), DCG Momodu Sule, has applauded the federal government for taking steps to implement the proposed compulsory

NDLEA Integrity Drug Test for all students of tertiary institutions in Nigeria.

The former Director of Technical Services at the NDLEA, in a statement, also urged the Minister of Education to include secondary school students in the compulsory drug integrity test.

He further advocated the

teaching of drug education in colleges of education and faculty of education in tertiary institutions in the country.

He said, "I want to applaud the Chairman of the NDLEA, Brigadier General Mohamed Buba Marwa (Rtd), and the Minister of Education, Dr. Maruf Tunji Alausa, on their bold decision to have students of tertiary institutions

undergo the compulsory NDLEA Integrity Drug Test. I also urge the minister to include secondary school students."

He stated the introduction of this test will undoubtedly go a long way in curbing incidents of drug abuse among youths, thereby preserving future generations from self-destruction.

expression, access to information, and media freedom.”

According to SERAP and NGE, “the allegations of inciting violence against Badeggi FM and its owner are vague, unfounded and unsubstantiated.

The suit filed on behalf of SERAP and NGE by their lawyers Kolawole Oluwadare, Oluwakemi Agunbiade, and Andrew Nwankwo, read in part: “The media plays an essential role as a vehicle or instrument for the exercise of freedom of expression and information – in its individual and collective aspects – in a democratic society.”

“Intimidating, harassing and silencing critical or dissenting voices under the guise of vague and unsubstantiated national security concerns is a fundamental breach of your constitutional oath of office and

Nigeria’s international human rights obligations.

“Intimidating, harassing and silencing Badeggi FM and its owner would have a chilling effect on the protection of freedom of expression and media freedom across several states.

“The ongoing intimidation and threat to arbitrarily revoke the station’s licence, unlawfully demolish its premises and profile its owner are all clearly antithetical to the requirements of the Nigerian Constitution 1999 [as amended] and the country’s international human rights obligations.

“The ongoing intimidation and harassment of Badeggi FM and its owner is capable of discouraging participation of the press in debates over matters of legitimate public concern ahead of the 2027 general elections.

Olusegun Samuel in Yenagoa

In a significant move that would spur excellence in media reportage and ignite interest, the Nigerian Content Development and Monitoring Board (NCDMB) has made a remarkable increase to the prize money of its three sponsored categories in the Bayelsa Media Awards (BMA).

The agency increased the prize money to one million naira (N1,000,000) and a new laptop for individual winners of its categories.

The Board’s sponsored categories are “NCDMB Prize for Niger Delta Region's Oil and Gas Print Reporter of the Year; NCDMB Prize for Niger Delta Region's Oil & Gas Broadcast Reporter of the Year and NCDMB Prize for Niger Delta Region's Economy Reporter of the Year.”

The prize for each award was previously N150,000, (one hundred and fifty thousand naira) and brand new laptop for each winner.

The increase was disclosed by the NCDMB’s General Manager Corporate Communications, Dr. Obinna Ezeobi, at the Board’s Headquarters in Yenagoa, Bayelsa State at the weekend. He stated the increase was consistent with the board’s mandate and dedication to building capacity and promoting talents in key sectors connected to the oil and gas industry.

He thanked NCDMB’s Executive Secretary, Engr Felix Omatsola Ogbe for approving the increase and his deep appreciation of the critical roles the media and strategic communication play in local content promotion and implementation. NCDMB Increases Bayelsa Media Award Prize Money to N1m

L-R: Biyi Ashiru-Mobolaji, MD/CEO, Mutual Benefits Life Assurance Limited; Femi Asenuga, MD/CEO, Mutual Benefits Assurance Plc; Dr. Akin Ogunbiyi, Group Chairman, Mutual Benefits Assurance Plc; Jide Ibitayo, Company Secretary; and Joseph Oladokun, Executive Director, Technical, Mutual Benefits Assurance Plc, during the Annual General Meeting of the company in Lagos… weekend

2025 ANNUAL ENUGU WOMEN

AUGUST MEETING...

Fayemi Denies Dumping APC, Co-founding ADC Coalition with Ex-gov Rotimi Amaechi

Chuks Okocha in Abuja

Former Ekiti State governor, Dr. John Kayode Fayemi, has denied co-founding the African Democratic Congress (ADC) coalition with former Rivers State governor, Hon. Chibuike Rotimi Amaechi and others. Fayemi, who responded to a viral video on the matter, reaffirmed his loyalty to the ruling APC and the victory of Governor Biodun Oyebanji in the fast approaching Ekiti State off-season election.

He was, however, silent on President Bola Tinubu’s re-election bid in 2027. In a statement by Mallam Ahmad Sajoh, Head, Fayemi Media Office, Abuja, titled: “Response to the Viral Claim Attributed to Hon Rotimi Amaechi'', he said, ''We address the alleged claim by Hon. Rotimi Amaechi, former Governor of Rivers State, that he and our principal, Dr. Kayode Fayemi, former Governor of Ekiti State, founded the new ADC coalition before expanding it to include

others.

''Despite efforts to verify this statement, which has gained traction on social and digital media, we have found no credible evidence to support it. No video of Hon. Amaechi making these claims or reports from reputable media organisations has been located.

''In an era where fabricated or distorted statements are often attributed to public figures for malicious purposes, we are cautious about engaging with potentially manufactured

controversies designed to provoke or profit. It is possible that Hon. Amaechi did not make the statement or was misquoted.

''We unequivocally state that these claims lack any basis. Dr. Fayemi remains a committed member and leader of the All Progressives Congress (APC) in Ekiti State.

“At various public forums in Ekiti and nationwide, he has consistently affirmed his dedication to the APC, working to address its challenges and advance its progressive ideals for

Mounting Tensions Stall Staff Conversion at NDPHC Amid Employment Crisis

The Niger Delta Power Holding Company (NDPHC) is facing escalating employment crisis with mounting tensions over the fate of long-serving contract staff, regional balance in hiring, and financial constraints threatening to stall ongoing reforms.

At the heart of the controversy is the delayed conversion of third-party technical contract workers, many of whom have served for over a decade, into permanent or direct contract staff.

While the current management had initiated a phased conversion

process, resistance from interest groups, concerns over federal character compliance, and cost implications have disrupted the programme.

Engr. Abdullahi Kassim, the Executive Director of Generation at NDPHC, whose portfolio covers over 4,000MW of power generation assets, offered insight into the long-standing issue.

In an interview with Thisday yesterday, he explained that many of the affected workers were initially engaged during the plant construction stage, with the expectation that they would transition to private ownership

Adamawa Flood

upon the planned sale of the plants.

When privatisation efforts failed, he said, NDPHC was forced to retain control of operations and those workers were reassigned to third-party contractors.

“They were not directly hired by NDPHC,” Kassim clarified.

“They were hired through contractors who are now responsible for their salaries and welfare,” he added.

Kassim admitted that on assuming office as the Executive Director, he pushed for the conversion of the technical

personnel, many of whom have been instrumental in running NDPHC’s seven operational power plants.

In response, he said the new management under the Managing Director, Engr. Jennifer Adighijie initiated the first phase of conversion, absorbing 70 staff. Ten from each of the seven plants, into the company.

Kassim however noted that a petition filed by a northern advocacy group raised objections over the regional composition of the newly absorbed staff, alleging a breach of federal character principles.

Victims: 11 Persons Still Missing as Govt Distributes Relief Materials to 4000 Households

Daji

The Adamawa State Government has distributed relief materials to about 4,000 households afflicted by the recent devastating flood that ravaged seven communities in Yola South Local Government Areas. This is as the National Emergency Management Agency (NEMA) declared 11 persons still missing while the death toll rose to 29.

The relief materials distributed include 25kg of maize, 25kg of rice, sugar, cooking oil, one carton of spaghetti, clothing material, mat, and maggi cubes. The distribution exercise was carried out at Aliyu Mustapha College in Yola, and the relief materials were brought by the federal government, the first lady, NEMA, the state government, as well as other organizations and well-meaning Nigerians.

Adamawa State deputy governor, Prof. Kaletapwa Farauta, who oversaw the distribution urged the beneficiaries not to sell the items stressing that they were meant to bring immediate succor to their families.

She also asked the beneficiaries to wait patiently, assuring them the relief materials provided would go round as distribution was taking place simultaneously across

four locations in the local government.

Ladan Ayuba, NEMA Head of Operations in Yola, noted his organization had enjoyed a seamless working relationship with other sister organizations in the course of taking a census of the victims.

He added that data available indicated that about 15,000 people were affected, comprising 4,000 families who would benefit from the distribution.

Nigeria. Nothing has changed.''

Furthermore, the statement stated that Fayemi has publicly endorsed His Excellency Biodun Oyebanji, Governor of Ekiti State, for re-election, clearly supporting his candidacy for the APC gubernatorial ticket. This underscores his loyalty to the APC.

''We also wish to note that Dr Fayemi is a politician and thought leader with friends and associates that span political, religious, ethnic and regional divides.

“And from time to time, he is part of conversations about the Nigeria project, how to deepen

our fledgling democracy, make the country work for the greater good of all and overcome its numerous challenges.

''These conversations, however, do not amount to defections or leaving the APC. Dr Fayemi has the courage to pursue his convictions. If he were to leave the APC, he would make it public and not require a third party to do so.

“We state again, maybe for the umpteenth time: Dr Fayemi remains a principal member of the APC and is fully behind the party in the forthcoming gubernatorial election in Ekiti State.

GOC 8 Division Commends NYSC Members, Urges Them to be Good Ambassadors

Onuminya Innocent in Sokoto

The General Officer Commanding (GOC) 8 Division, Nigerian Army Sokoto, Major General Ibikunle

A Ajose, has commended the outgoing 2024 Batch B' stream 2 National Youth Service Corps (NYSC) members who served under the division.

Major General Ajose, who spoke during a farewell ceremony held at the Officers' Mess, Giginya Military Cantonment, Sokoto State applauded the Corps members for their dedication and commitment to national service.

"I am proud of each and every one of you, and I am grateful for the services you have rendered to our great nation," Major General Ajose said.

The GOC, who presented commendation letters to the passing-out Corps members, along with a cash gift of N50,000 each as transport fare for their journeys to their respective states, urged them to be good ambassadors of the NYSC scheme and the

Nigerian Army.

"As you depart Sokoto State, I charge you to go out there and make a positive impact in your communities," Major General Ajose said. "Remember that the skills and knowledge you have acquired during your service year are not just for personal benefit, but also for the benefit of our great nation."

The GOC also commended the NYSC Sokoto State Coordinator, Alhaji Usman Yakubu Yaro (Malikin Zuru), for his efforts in ensuring the success of the NYSC scheme in the state.

The farewell ceremony, which was attended by top military officers and other dignitaries, featured cultural displays, comedy, drama presentations, and the presentation of commendation letters and cash prizes to the Corps members.

Earlier the NYSC Sokoto State Coordinator, Alhaji Usman Yakubu Yaro (Malikin Zuru), commended the GOC for his demonstration of love, compassion, care, and concern for the Corps members and the NYSC scheme in Sokoto State.

Sani in Yola

Sunday Aborisade in Abuja

L-R: Executive Chairman, Enugu State Tourism Board, Enugu State, Dame Rita Mbah; Corporate Affairs Manager (East), Nigerian Breweries Plc, Joy Egolum; Honourable Commissioner for Children, Gender Affairs and Social Development, Enugu State, Honourable Ngozi Enih; and Zonal Business Manager (East), Nigerian Breweries Plc, Chinwe Ude, at the 2025 Annual Enugu Women August Meeting sponsored by Amstel Malta, held in Enugu, weekend

ORIJIN AT THE RECENT OSUN OSOGBO FESTIVAL...

NAF Vows to Locate, Rout Out Criminals

Threatening Peace, Safety of Nigerian People

The Nigerian Air Force (NAF), yesterday, reiterated its commitment to locating and routing out all criminal elements threatening the peace and safety of law-abiding citizens.

The Service also stressed that protecting the lives and property of Nigerians remained a non-negotiable priority for the Nigerian Air Force.

Speaking during his operational assessment visit to Kebbi State, the Chief of Air Staff, Air Marshal Hasan Abubakar, said Nigeria must be secure for development to thrive.

A statement by the Director of Public Relations and Information, Headquarters, Nigerian Air Force, Air Commodore Ehimen Ejodame, explained that the visit — which included highlevel engagements with senior

military commanders, heads of other security agencies, and an inspection of key military infrastructure — underscored the Nigerian Air Force’s readiness to respond swiftly and decisively to emerging threats in the North-West.

Ejodame added that the visit was also part of the NAF’s coordinated effort to strengthen regional security and reassure citizens of its commitment to national defence.

During the operational assessment visit, the Air Chief praised the readiness of the troops and the effectiveness of the security infrastructure in the state.

He said, “I am highly impressed with what I saw on the ground. Our platforms are well-positioned and capable of reaching every part of the state swiftly. Intelligence, surveillance, and reconnaissance operations

Boss Mustapha: I’ve No Plan to Join ADC

Olawale Ajimotokan in Abuja

A former Secretary to the Government of the Federation, Boss Mustapha, has disclaimed reports in circulation associating him with the new political coalition, the African Democratic Congress (ADC).

Mustapha issued the denial yesterday in a statement he personally signed, affirming his loyalty to the All Progressives Congress (APC).

He insisted that he had no intention of associating with the ADC coalition that has former Vice President, Atiku Abubakar, former Senate President David Mark, former Governor of Kaduna State Nasir El-Rufai and former Minister of Transportation, Rotimi Amaechi as its major backers.

Mustapha, who served for seven years as the SGF in the administration of the late former President Muhammadu Buhari, categorically denied claims he was holding discussion with the ADC leadership. He urged the public to regard

any reports reinforcing that as a fake news.

"My attention has been drawn to a news story in circulation, associating me with the opposition alliance and their choice of the ADC as their political party.

"I want the general public to know that this is fake news. I am not in any opposition alliance, and I am not in any discussion with those who are involved," he said.

The former SGF noted that he was one of the founding fathers of the ruling party, having served as the Deputy National Chairman of the Action Congress of Nigeria, (ACN) that coalesced into the APC, with six state governors supporting the merger.

"I cannot, therefore, in all reasonableness, walk away from a party I had helped to form," he said, adding: "I am in the APC. If our party has problems as all the other parties do, we will stay at the party and fix those problems. We don't solve problems by decamping to other parties," he concluded.

will be intensified.

“I commend the dedication of our colleagues in the Nigerian Army, the Nigerian Police, the Department of State Services, the Nigerian Security and Civil Defence Corps, and others. Their tireless efforts are making a difference, and we will continue to support them with air power and strategic coordination.”

The Chief of Air Staff also held a meeting with Governor Mohammed Nasir Idris and

members of the Kebbi State Executive Council during the visit.

He emphasised the strategic importance of Kebbi State in Nigeria’s security architecture.

“Kebbi shares international borders with the Republics of Benin and Niger and has vast rural terrains that demand heightened security vigilance. What affects Kebbi affects the entire North-West and, by extension, the peace and

stability of our nation.”

In his remarks, the Governor of Kebbi State, Dr Mohammed Nasir Idris, expressed profound appreciation to the Nigerian Air Force and other security agencies for their tireless commitment to safeguarding lives and property across the state.

He noted that, despite emerging threats and the complex security environment in the North-West, Kebbi has

remained largely peaceful, adding that the achievement was attributable to the vigilance and sacrifices of the nation's security forces. Idris reaffirmed his administration's unwavering support for the Nigerian Air Force and all sister agencies, stating, “We are fully committed to working hand in hand with our security institutions to ensure Kebbi remains a bastion of peace and stability.”

AbdulRazaq, Suswam, Ngige Mourn

Hammed Shittu in Ilorin, Onyebuchi Ezigbo in Abuja, George Okoh in Makurdi

Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, former governor of Benue State, Senator Gabriel Suswam and a former governor of Anambra state, Senator Chris Ngige have mourned the passing of a former Minister of Agriculture and Rural Development, Chief Audu Ogbeh.

A statement issued in Ilorin by the governor's Chief Press Secretary, Rafiu Ajakaye, stated that, "the death of Chief Audu Ogbeh is a big loss to the North Central Region, calling him a statesman, thoughts leader, and

nationalist.

"Chief Audu Ogbeh was a dependable leader of our region. He earned the respect of all on account of his outstanding leadership and service to the nation at different times, especially during his time as Minister of Agriculture and Rural Development."

AbdulRazaq, however, sent his heartfelt condolences to the people and government of Benue State and to his family and associates.

Suswam, while expressing regrets over his death, said, Chief Ogbeh was an illustrious son of Benue State, farmer, playwright and elder state man and who started his political career in

1979 when he was elected on the platform of National Party of Nigeria (NPN) as a member of Benue State House of Assembly and subsequently, elected as Deputy Speaker of the House.

He recalled that until his transition to glory, Ogbeh held several important positions in Nigeria, including Minister of Communications and later Steel Development during the administration of President Shehu Shagari.

“As Minister of Agriculture and Rural Development in the administration of President Muhammadu Buhari, he endeared himself to Nigerians by implementing innovative

Ogbeh

programmes which promoted food security for the nation, export of agroproduce for foreign exchange earnings and job creation for Nigerian youths,” he said.

Also, speaking, Ngige said his death marked an end to a memorable era.

In a statement, Ngige said: "With the transition of Hon Innocent Audu Ogbe, Nigeria has lost one of its finest...a patriot, statesman and an intellectual with a lot of integrity and above all, one that can speak truth to power, at all times."

He also described Ogbeh as a farmer and someone who was very passionate about Agriculture.

Tinubu Appoints Abbas to Chair Panel on Bauchi APC Reconciliation Ahead 2027 Poll

President Bola Tinubu has appointed the Speaker of the House of Representatives, Hon. Abbas Tajudeen to chair the reconciliation committee for the All Progressives Congress (APC) in Bauchi State, ahead the 2027 polls. Abbas, in a statement by his Special Adviser on Media and Publicity, Musa Krishi, said the presidential panel was saddled with the responsibility of addressing and resolving the internal wrangling that has beset the Bauchi State chapter

of the party.

He noted that President Tinubu carefully selected the members of the committee based on their integrity, track record, and capacity to act fairly and objectively, urging them to brace up and meet the expectations by completing the assignment within one month as mandated, ahead of APC congresses.

Members of the committee included Governor Mai Mala Buni of Yobe State; former House of Representatives Speaker, Hon. Yakubu Dogara; the Senior Special Assistant

to the President on National Assembly Matters (Senate), Senator Abdullahi Abubakar Gumel; the Senior Special Assistant to the President (Political), Alhaji Ibrahim Masari; and Alhaji Usman Abubakar Gotomo.

The Chief of Staff to the Speaker, Prof. Jake DanAzumi, was the secretary to the committee.

Abbas noted that after an exhaustive deliberation on the origin of the crisis, which dated back to the party's 2015 primaries in the state, the meeting resolved to embark

on a fact-finding assignment by meeting with the Abbas, however, observed that the prolonged stalemate in the Bauchi State chapter of the APC necessitated the president's intervention, which was why the committee was established.

Consequently, the meeting with the identified Bauchi APC major stakeholders was held on July 31 at the Yobe State Governor's Lodge, Asokoro, with Governor Mai Mala Buni chairing in the absence of Speaker Abbas, who is the committee chairman.

Linus Aleke in Abuja

L-R: Head, Media and Partnerships, Guinness Nigeria Plc, Seye Odebunmi; Senior Brand Manager, Orijin, Dorcas Mashingil; Legendary Juju Artist, Sir Shina Peters; Corporate Relations Director, Guinness Nigeria Plc, Rotimi Odusola; and Head of Marketing, Mainstream Spirits, Guinness Nigeria Plc, Uchechukwu Onwudiwe, at the Orijin Festival Village, Freedom Park, Osogbo, marking the finale of the 2025 Osun Osogbo Festival… recently

Adedayo Akinwale in Abuja

UNILEVER TEAM COURTESY VISIT TO MAN HEAD OFFICE IN LAGOS...

L-R: Research and Development Director, Unilever Africa Cluster, Uche Nwakanma; Director General, Manufacturers Association of Nigeria (MAN), Segun

Otunba Francis Meshioye, OFR; Manufacturing Director, Unilever Nigeria, Abayomi Alli; and Head, Commercial Finance

the Manufacturers Association of Nigeria head office in Lagos… recently

Discos Dispute: Confusion as Kunle Ogunba Claims Receiver Role against Court Order

The controversy surrounding the alleged appointment of Receiver/ Manager over some power companies in dispute with their lenders, continue with court documents revealing Mr Kunle Ogunba's (SAN) Notice of Appeal, pending at the Court of Appeal.

Ogunba had last week placed newspaper advertorials declaring his receivership as

incorporated into the ecosystem to act as both System Integrators and Access Point Providers. These providers will facilitate the onboarding, integration, and invoice transmission processes for taxpayers."

The service, however, commended all large taxpayers, tax consultants, and service providers for their cooperation and commitment to the success of the e-invoicing project.

The service stated, “We also acknowledge the genuine efforts of many taxpayers who strove to meet the 1st of August 2025 deadline but encountered operational constraints.

“In the spirit of encouraging voluntary compliance, the FIRS management has graciously approved a three-month extension of the deadline, with the new deadline now set for 1st November 2025.

“The FIRS e-Invoicing Implementation Team will continue to provide support through stakeholder engagements, including webinars, workshops, and town hall meetings, to ensure a seamless transition for all large taxpayers."

The national e-invoicing solution is an electronic fiscal system (EFS) developed by FIRS to provide real-time visibility into commercial transactions and ensure the authenticity, accuracy, and completeness of invoices.

It is being rolled out in phases, beginning with large taxpayers and with those in the medium and emerging groups to follow.

The system aligns with global best practices and supports the federal government’s broader objectives of enhancing revenue assurance, reducing tax evasion, and modernising tax administration.

"court-approved", meanwhile he also at the same time filed an appeal arguing that the same court ruling was legally "erroneous".

Justice Akintayo Aluko of the Federal High Court had in a ruling delivered on August 5, 2025, restrained the lenders seeking to take over Kepco Energy Resource Nigeria Limited and affiliates.

The initiative is also a critical tool in the implementation of the Nigeria Revenue Services Reform Act, which seeks to harmonise revenue reporting and establish a single source of truth for government revenues.

Meanwhile, the Nigeria Extractive Industries Transparency Initiative (NEITI) has raised the alarm over the worrisome high debt exposure and weak fiscal management of many states, which is undermining grassroots development in the country.

The agency listed Kaduna, Ogun, Bauchi and Cross Rivers as states using between 10 to 30 per cent of their monthly earnings from the Federation Account Allocation Committee (FAAC) to service debts, leaving little to undertake developmental projects and programmes in their states.

The alert followed the release of NEITI’s latest Policy Brief — “Beyond Federal Allocations: The Cost of Borrowings and Debt Servicing at State Level in Nigeria”, which provides fresh, evidence-based insights into how debt servicing obligations are constraining states’ capacity to fund essential services, local infrastructure, and poverty reduction initiatives.

In a statement issued yesterday by its Director, Communication & Stakeholders Management, Mrs Obiageli Onuorah, NEITI, through the brief, cautioned against what it described as a 'silent fiscal emergency' quietly undermining the economic stability of Nigeria’s states.

NEITI explained that the decision to undertake the research was rooted in its statutory mandate under the NEITI Act 2007 and in line with global Extractive Industries Transparency

The ruling restrained Ogunba whom the Banks had appointed as Receiver/ Manager from "taking any adverse steps" against the power companies.

The court In the ruling further held that Ogunba’s receivership was "a subject of litigation," not a settled fact.

However, the senior lawyer through paid advertisements

Initiative (EITI) Standards, which require disclosures on revenue allocations and subnational transfers.

The agency noted that states in Nigeria receive substantial monthly allocations from the Federation Account, much of it derived from extractive revenues.

It pointed, however, that, when between 10 per cent and 30 per cent of these allocations are deducted at source for debt servicing, the fiscal space for grassroots infrastructure, social services, and poverty alleviation is severely diminished.

By shedding light on the scale and implications of these deductions, NEITI said it was providing citizens, policymakers, and development partners with reliable evidence to drive fiscal discipline and prudent debt management.

The agency further noted that the study addresses a critical governance gap by complementing national debt management reforms with robust subnational fiscal transparency.

According to NEITI, high and unsustainable debt servicing obligations pose risks to statelevel stability and undermine the developmental impact of extractive revenues.

Through this disclosure, NEITI said it empowers citizens, civil society, and the media to hold state governments accountable for their borrowing decisions, while providing a credible, evidence-based platform for dialogue on debt sustainability thresholds, transparent loan agreements, and responsible economic governance.

"The Policy Brief reveals that between 10 per cent and 30 per cent of monthly FAAC allocations in many states are

in ThisDay and Punch Newspapers stated that: "The appointment of a receiver/manager has been concluded thus necessitating the Public caveats," essentially, presenting the receivership as a fait accompli with judicial approval.

Meanwhile, it was learnt that Ogunba, had on August 7, 2025, a day after the

directly deducted at source for debt servicing, leaving less room for grassroots development investment.

"Kaduna State recorded the highest 2024 deduction ratio at 32.06 per cent, translating to N51.2 billion deducted from N159.7 3 billion in gross allocations.

"Ogun State followed with 27 per cent (N33 billion from N123 billion), Bauchi with 26 per cent (N37 billion from N142 billion), and Cross River with 24 per cent (N28 billion from N119 billion)", NEITI revealed.

From the NEITI Policy Brief, these high-debt states contrast sharply with low-debt performers such as Borno with only 2.63 per cent debt reduction obligations, Jigawa 2.74 per cent, Benue -3.58 per cent and Nasarawa -3.82 per cent) debt burden exposure.

It revealed that other states with low debt burden commitments included Kebbi 4.06 per cent, Bayelsa -4.46 per cent, and Anambra 4.54 per cent, where prudent borrowing and efficient fiscal management have preserved over 95 per cent of gross allocations for direct development spending.

The NEITI Policy Brief also examined Positive Debt-toGross Domestic Product (GDP) management implications and the lessons that subnational governments must consider.

NEITI noted that these lowdebt states provide practical models for maintaining a healthy debt-to-GDP profile while still leveraging borrowing for development where necessary.

It explained that the balance between debt and revenue was critical for preserving fiscal sovereignty and avoiding dependency on future bailouts.

On the hidden liabilities and

advertorials were published, filed a Notice of Appeal with 10 Grounds of appeal, substantially challenging the trial court’s irders, which he had alleged approved of his Receivership.

The filing further argues the receivership was so "statutory" that restraining it "occasioned a miscarriage of justice", a position which

contractual risks, NEITI said the Policy Brief also flagged contractual obligations—notably in Ogun (N6 billion) and Ondo (N7.73 billion) tied to publicprivate partnerships (PPP) and infrastructure projects—warning that opaque contract terms and excessive deductions could undermine future fiscal space.

Conversely, it said 18 states, including Abia, Adamawa, and Akwa Ibom reported zero contractual deductions, signaling more cautious or strategically timed borrowing.

The agency also revealed inequality in the revenue sharing formula, pointing out that in 2024, Delta State received N581.27 billion — five times the N108.32 billion received by Nasarawa. Consequently, NEITI warned that such disparities, compounded by high debt-servicing ratios in smaller-allocation states, could deepen fiscal inequality and stall regional development.

NEITI Policy Brief also made some prescriptions for fiscal sustainability, recommending among others,, the establishment of State Debt Management Offices (DMOs) in all 36 states.

It also recommended mandatory real-time debt reporting and quarterly public disclosures as well as linking federal bailouts/support to improvements in internally -Generated Revenue (IGR) and fiscal transparency.

The agency also called for revising the revenue allocation formula to address vertical and horizontal imbalance, while equally canvassing capping contractual deductions and publishing the full terms of major borrowing agreements.

On its call for action, the NEITI Executive Secretary, Dr

experts say directly contradicts his newspaper adverts which indicated that the court had approved the appointment. In general, the appeal raises a contradiction regarding Ogunba's insistence that his receivership is “statutory" and already approved by the Court. Legal experts say this amounts to "tacitly admitting that they are disputed".

Ogbonnaya Orji stressed that the policy brief was “not a name-and-shame exercise, but a mirror and a map” - a mirror to reflect fiscal realities, and a map to guide states toward resilience, transparency, and equitable growth.

Orji cautioned that “Debt, when managed efficiently, can be a tool for financing development at the grassroots. But when servicing obligations consume up to a third of monthly revenues, it becomes a threat to the future of public service delivery and economic stability.”

The executive secretary affirmed that NEITI's recommendations align with its mandate under the NEITI Act and Nigeria’s obligations under the global EITI Standards, particularly on debt transparency, subnational transfers, and revenue governance.

NEITI further pointed out that as Nigeria navigates a challenging fiscal landscape, the Policy Brief stands as both a red flag, a warning bell and a reform blueprint urging state and federal authorities to act decisively with bold reforms before debt becomes not just a burden, but a destination.

The agency said the Policy Brief, which was comprehensive with data, had been shared to the federal government including the National Assembly, relevant ministries, departments and agencies (MDAs) and the National Economic Council (NEC).

It added that the Brief had been widely circulated to the states’ Accountants General and Commissioners of Finance as well as the Governor’s Forum, noting that the NEITI Policy Brief is also available on the NEITI website.

Ajayi-Kadir, mni; Managing Director, Unilever Nigeria, Tobi Adeniyi; President, MAN,

and Executive Director, Unilever Nigeria, Ibrahim Sodipe, during a courtesy visit of the Unilever Nigeria leadership team to

SUNDAY ADIGUN

BEST AFRIGO CARD ISSUING BANK AWARD… …

L-R: The Managing Director/CEO, Afrigopay Financial Services Limited, Ebehijie Momoh; Managing Director/CEO, Sterling Bank, Abubakar Suleiman, and Managing Director/CEO, Nigeria Inter-Bank Settlement System, Premier Oiwoh, during a courtesy visit and award presentation to Sterling Bank as the Best AfriGO Card Issuing Bank in Lagos…recently

3,000 Residents Flee Communities over Bandits Attack in Kwara

40-year-old Irmiya killed by suspected herder in Bauchi

Hammed Shittu in Ilorin and Segun Awofadeji in Bauchi

No fewer than 3,000 residents of 15 communities in Babanla town in Ifelodun Local Government Area of Kwara State,, at the weekend reportedly fled

the communities over the reported incessant attacks by suspected kidnappers and bandits.

In another development, Bauchi State Police Command has confirmed that one Irmiya Yohanna, 40, of Kaduna-Bogoro in Bogoro Local Government

Governance Not a Jamboree, Edo PDP Tells Okpebholo

Adibe Emenyonu in Benin-city

The Peoples Democratic Party (PDP), Edo State chapter, has expressed outrage over what it termed as a disgraceful revelation that the state Governor, Senator Monday Okpebholo-led administration allegedly squandered an alarming N3.51 billion on travel in just the first half of 2025.

The party said the ‘waste’ came at a time when the National Bureau of Statistics (NBS)

Capital Importation Report confirmed that Edo State failed to attract a single kobo in foreign investment-while states like Lagos, Ogun, Oyo, Kaduna, Kano, and even Ekiti made the list.

According to the party in a statement signed by its Publicity Secretary, Chris Nehikhare, yesterday, “the contrast is both embarrassing and telling, adding that while other states are opening their doors to capital, Edo leaders are opening their wallets for endless trips.

Area of the state, has been gruesomely killed.

In Kwara, already, the federal government has deployed five war fighter

jets, while police have also deployed joint security personnel to the town to protect life and property.

THISDAY checks

investi-gations revealed that among the affected communities deserted by the residents are Eka, Upper Eka, Lower Eka,

Kudagbari, Gbanmu, Oloruntele, Baba Sango, Ibudo Idowu, Ibudo Olosun, Ayetoro, and Apata Olosun.

Again, Osun Calls on FG to Release LG Funds

Yinka Kolawole in osogbo

The Osun State Government has again renewed its call on the federal government to release the state’s local government allocations in recognition and compliance with the recent Court of Appeal judgement on the state local government leadership question.

The government also

Bassey Inyang in Calabar

Cross River State

Governor, Senator Bassey Otu, has declared that the state is on an upward trajectory following weeks

of strategic engagements with Cross Riverians in the Diaspora.

Speaking to journalists at the Margaret Ekpo International Airport, Calabar, upon his return at the weekend from the

welcomed and supported he intervention of traditional rulers and other leaders of thought to secure the immediate release of the fund to stop the current hardship the fund seizure is inflicting on grassroots communities across the state.

The government in a statement made by the state Commissioner for Information and Public Enlightenment.

Otu Returns from Diaspora Engagements, Say C’River’s on The Rise

convention of ‘Cross River Indigenes In Diaspora (CRID)’ in Birmingham, United Kingdom, Otu said the meetings with the diaspora community were aimed at strengthening the synergy between citizens at home and those abroad in line with the demands of a globalised world.

“I first had to meet with our people in the US; we had a good interface, and they are very happy with what is going on at home.

Experts Call for Bold Actions to End Violence in North Central

Kemi Olaitan inIbadan

Conflict and peace-building experts have called on the federal government to regulate community based vigilance groups and integrate them into formal structures to ensure accountability and coherence.

This is just as they recommended a shift from militarised interventions to deploying community-based approaches that build trust and prioritise prevention to solve the violence in the North Central region of the country.

The experts made the submissions at a webinar hosted by the Conflict Research Network West Africa (CORN West Africa) where leading experts and practitioners came together to dissect the violence plaguing the North Central and chart actionable pathways toward peace and human security.

Jonathan, Oyebanji, Naval Chief, Others Eulogise Olubolade

Gbenga Sodeinde in ado Ekiti

Ekiti State Governor, Mr. Biodun Oyebanji, has described the late Ekiti born Navy Captain

Caleb Olubolade (rtd) as a gallant officer whose life of patriotism and selfless service to the development and growth of the country cannot be forgotten. Oyebanji spoke at the

final funeral service held for the deceased at St John’s Military Church, Bonny Cantonment, Victoria Island, Lagos. The burial service was attended by former

President Goodluck Jonathan (represented by his wife Dame Patient Jonathan), Governor of Bayelsa State, Duoye Diri; Chief of Naval Staff, ViceAdmiral Emmanuel Ogalla.

Umo Eno: I have No Quarrel with those Who Did not Defect with Me

Governor Umo Eno of Akwa Ibom State has said that he has no quarrel with some Peoples Democratic Party (PDP) members who did not defect to All Progressives Congress (APC) with him, saying his administration will continue to be fair to everybody in the state

irrespective of political differences.

Speaking at Uyo federal constituency Town Square meeting held at Ibom Hall grounds

in Uyo, the governor noted that politics is a dynamic enterprise and so people are bound to hold different political preferences.

MONDAYSPORTS

Group

‘Oliseh’s YouTube Post About Osimhen’s Transfer Most Unfortunate’

Duro Ikhazuagbe

A confidant of Nigeria and Galatasaray top striker, Victor Osimhen, has dismissed Sunday Oliseh’s social media claims that the former Napoli star was snubbed by top European club sides this summer transfer window.

Oliseh who is a FIFA Technical Study Group member and Nigerian football legend, had in a YouTubepost on Friday morning claimed that Napoli’s €75million release clause and Osimhen’s salary demand of not less than €15million annually were considered too exorbitant by most English Premiership clubs, hence they looked elsewhere this summer.

But Osimhen’s confidant who spoke with THISDAY on condition of anonymity at the weekend, insisted that Oliseh should not talk about what he did not know anything about as a respected former captain of the Super Eagles.

“Let me put the facts straight. Osimhen was wanted by top clubs in the Premier League like Manchester United, Chelsea, Liverpool and Arsenal. In the case of Manchester United, Osimhen was not bothered wether they were going to play in the Champions League or Europe or not. He considered Manchester United a big club in Europe. They came for him twice. Manchester United wanted to pay him annual salary of €8million but Osimhen insisted that he was not going to come down from the €12million he was currently earning to €8million. That was why the deal failed,” began the top football source who has been with the player right from his Golden Eaglets days.

He stressed that Osimhen insisted that there was no reason why he should drop to €8million when Manchester United were not going to pay any agent fee as the deal was between the club and his lawyer. “Osimhen no longer have an agent. His lawyer handles his transactions. It didn’t make sense to him and so was not desperate about it.”

The source further listed Arsenal and Chelsea as two other Premier League clubs that also got in touch with him. “Oliseh should go and

ask John Obi Mikel wether Chelsea spoke with him or not.”

“Is Juventus not a big European club? If Oliseh is saying no big club came for Osimhen, was he there when the player and Juventus were in back and forth discussions?

Juventus were willing to meet Napoli’s asking fee of €75million.

They also agreed to pay Osimhen €18million annual salary. All these discussions were ongoing with Juventus taking part in the FIFA Club World Cup. But Napoli were not willing to enter into negotiation with any Italian Serie A rival.

“Besides, Osimhen who is a man of his words, wanted to honour his promise to Galatasaray President whom he told since January that if they (Galatasaray) will be able to meet up with his release clause of €75million, he was going to leave Napoli to join them on permanent deal,” stressed the Osimhen confidant.

He also said that money was not the only consideration for Osimhen’s choice of club to go to after leaving Napoli.

“If it was for money, Osimhen would have accepted the offer of $160million total salary package from Saudi Arabia’s Al Hilal. He knew that at 26 years, age was still on his side and should be playing top football competitions like the UEFA Champions League. Besides, he’s loved and feels at home at Galatasaray. This was the overriding reason for pitching his tenth with the Istanbul club where he accepted only the €15million annual salary and his image right,” the top source concluded.

Oliseh had in that YouTube post given a breakdown of €187million as the total cost of hiring Osimhen by Galatasaray over a period of four years.

Osimhen was absent from Galatasaray’s opening Turkish Super Lig fixture against Gaziantep which the Istanbul giants won 3-0 with Baris Yilmaz involved in all the three goals. He scored the opener and the third goal from the penalty spot and assisted Eren Elmali for the second. Osimhen is expected to be available for Galatasaray’s next fixture against former Ahmed Musa’s Fatih Karagumruk at Rams Park.

Crystal Palace Stun Liverpool in Shootouts to Win Community Shield

FA Cup holders Crystal Palace beat Premier League champions Liverpool 3-2 on penalties after a 2-2 draw to win an enthralling Community Shield at Wembley.

Goalkeeper Dean Henderson was the shootout hero for Palace as he saved from Alexis Mac Allister and Harvey Elliott, while Mohamed Salah sent his kick over the bar. It allowed 21-year-old midfielder Justin Devenny, sent on as a stoppage-time substitute, to smash the winning penalty past Alisson.

until this year, have now earned two in a matter of months at Wembley. They are also the first side to win the Community Shield on their debut in the match for 50 years, since Derby County in 1975.

Palace, who had not won a major trophy in their history

Spot-kicks provided a thrilling conclusion to one of the most exciting season openers in years, in which the drama started in just the fourth minute.

Four of Liverpool’s five major summer signings started, and two of those players combined to brilliant effect in the early moments at sun-drenched Wembley.

NFF President Commends Alao, Urges Sportswriters to Emulate Him

The President of Nigeria Football Federation (NFF), Alhaji Ibrahim Gusau, has commended Veteran Journalist and Managing Director of Complete Communications Limited, Dr. Mumuni Alao, for his contribution to the development of sports journalism in the country, urging other Nigerian sports writers to emulate him.

The NFF boss stated this yesterday during the launch of Alao’s autobiography at the Tayo Aderinokun Hall, University of Lagos, Akoka Lagos.

Gusau who was represented

at the event by the Chairman of Nigeria National League, Mr. George Aluo, described Alao as a brilliant journalist who has intellectual capacity which has enabled him to rise to the top of journalism profession.

“Mumuni Alao needs no introduction in Nigerian journalism. He has made his mark in the profession where he uses his brilliance and intellectual capacity to reshape sports reporting in the country and am happy that he has not deviated from the ethics of the profession rather his intellectual contributions have continued to help in moving the profession forward.

“There’s need for other journalists to emulate him because with people like him in sports reporting, Nigerian sports will continue to move to greater heights and I look forward to seeing more Mumuni Alao in the country’s sports journalism circles”, said the NFF President.

Gusau also used the opportunity to urge Nigerian journalists to collaborate more with the football house, positing that this is important for the country’s football to keep moving forward

“I want to use this

opportunity to appeal to Nigerian journalists to work closely with the football house as is done in other climes in order to move the country’s football forward.

They should always engage in constructive criticisms and not be antagonistic in their reportage which will not do anybody any good,” concluded Gusau.

The book launch attracted many important personalities including the former Lagos State Governor, Raji Fashola (SAN) who was the guest speaker, NSC Chairman, Mallam Shehu Dikko and NPFL Chairman, Gbenga Elegbeleye.

White Tigers football club have emerged back-to-back champions of the Spires 5-Aside Divisional Qualifiers in Lagos Island.

The coach Emmanuel Olom tutored side retained their crown following a 4-1 victory against Young Strikers FC in Sunday’s final at The Stables Sports Centre in Surulere.

In the third place game, both teams scored 11 goals as Greater Tomorrow annihilated 2 Odds FC to secure the third place of the Lagos Island zone.

White Tigers FC received a prize money of N500,000, Young Strikers got the sum of N300,000, as runner-up, while Greater Tomorrow FC went home with a consolation

prize of N100,000. All three teams will represent Lagos Island in the sixteen team group stage tournament in October.

The qualified teams from other divisions include; Ikeja: Wasola FC, Blood and Sand football club, and Soccer Gems FA . The teams from Ikorodu division are: Orion and Leon FC, New Generation FC, and Evagrin FC.

Papa SA, Net breakers FC, Olaodus football club will represent EPE division while All Saints FC, Chekas United and Emaljus football club are the three teams from the Badagry division. Peckins FA from Epe secured the best loser slot.

Three-time Olympic medallist, Mary Onyali-Omagbemi, alongside former Super Eagles stars, Felix Owolabi and Tajudeen Disu, will headline the list of mentors at the inaugural sports camp organised by the Wamufat Youth Community Development Foundation (WYCDF), in collaboration with the Nigeria School Sport Federation (NSSF), which begins today.

Onyali, a five-time Olympian (1988–2004), is already in Abeokuta and will be joined by Owolabi and Disu to guide over 400 student participants from the six South-West states during the seven-day camp.

The programme, which blends sports training with education, mentorship, and personal

development, will be held at the Agroterra Sports Complex in Joga-Orile, near Abeokuta, Ogun State. In addition to the student athletes, more than 150 Game Masters from Ogun, Lagos, Oyo, Ekiti, Osun, and Ondo States will also take part, to inspire excellence in both sports and academics.

According to WYCDF, the initiative is designed to empower young people through structured sports activities, values-based coaching, and wellness education. The camp aligns with the foundation’s broader mission of using sports as a tool for positive change, particularly in underserved communities.

Crystal Palace defeated Liverpool 3-2 in penalty shootouts yesterday to win the Community Shield

Victor Osimhen...back in Galatasaray on permanent deal

PRESENTATION OF 2 YEARS OF ARISE AGENDA SOCIAL ECONOMIC IMPACT IN UYO...

MAHMUDJEGA

VIEW FROM THE GALLERY

On Giving Inmates the Vote

This story that I read in several newspapers and online media at the weekend, about ensuring that inmates in Nigerian prisons exercise the right to vote in elections, left me flabbergasted and perused, to quote my secondary school senior student who was famous for his verbosity. It all started last Friday when Controller General of Nigeria Prison [sorry, Correctional] Service, Sylvester Nwakuche, paid a visit to Prof Mahmood Yakubu, Chairman of Independent National Electoral Commission [INEC], in order to lobby for support to ensure the participation of inmates in the country’s elections. Look here, Oga Controller General. You are a very big man; I imagine how many years you must have spent in uniform, trying to make sure that inmates, whether convicts, awaiting trial or even those on death row awaiting execution, remain within the four corners of “correctional” walls. [Pray, what is there to correct for a person who is on death row?] You must have had many sleepless nights and thousands of moments of anxiety and anguish. In Nigeria here, even keeping students in their classrooms is a very big task, so is keeping civil servants on their desks, keeping workers at their work stations, keeping lecturers in lecture halls, keeping policemen in their stations, keeping legislators in their chambers for sittings, or even keeping judges in their court rooms and stopping them from adjourning cases. All those are easier than keeping inmates behind prison walls, taking them to court in Black Maria trucks, guarding them through the long court process, coping with inmates’ tricks such as saying they want to go to the toilet, not to talk of guarding the inmates we see being marched along the road, being taken to some houses or offices to sweep the yard or cut the grass.

Oga Controller General, of all the problems you have, is it voting by inmates that is your biggest concern? What about feeding them? In January this year, Federal Government increased the daily feeding allowance of inmates in Nigerian prisons from N750 to N1,125 “in a bid to improve the welfare of those in custody.” One thousand one hundred and twenty-five naira a day! How many meals do you give them with that amount? Is it the proverbial three square meals that human beings desire to eat every day? I don’t even know who set that benchmark, but it is probably the World Health Organisation [WHO] in league with the Food and Agriculture Organization, FAO, both of them agencies of the United Nations Organisation [UNO].

UN agencies are notoriously unrealistic in all their projections, such as saying a certain percentage of national budgets must be set aside for education, another percentage for health, a certain ratio of doctors to patients, a certain number of hospital bed spaces per 1,000 people,

and a certain number of policemen for every one thousand people. By the time you add all the percentages together, it comes to about 300% of national budgets. Is it UN that will give us the money?

Back to our food budget. Oga CG, if you have 1,125 naira to feed a prisoner a day, it comes to N375 per square meal. Even a round meal in Nigeria today costs a heck more than that! Except if you are in Kano. It is only in Kano that you can eat for N300, at least according to the Buhari-era Minister of Agriculture, Sabo Nanono. When people complained about the rising cost of food, he said one can eat a good meal for N300 in Kano. Trust Kanawa; one young man in Kano was seen on social media entering a restaurant. He ate to his fill and when the restaurant owner came for the money, he gave her N300, saying the minister in charge of food security set that benchmark price for eating in Kano. Everyone who has been inside a Nigerian prison came out complaining of poor feeding. Years ago when I visited an inmate in Sokoto prison, he told me that the soup that was served to them, water was on one side and the smattering of soup ingredients congregated in one corner of the bowl. I therefore urge NCS to pack all their inmates to Kano, where a good meal costs N300.

Oga CG, I thought that you were so busy with the issue of prison security and preventing jail breaks that you never thought of voting rights of inmates. In Nigeria there are two types of security; to keep some people out and to keep some people in. Most of the fences, barbed wires, iron gates, high walls, padlocks, guard dogs, security lights, electric fences, guard towers and

armed security men that ring Nigerian houses are meant to keep intruders out. It is only Mr. Nwakuche that installs all of these things in his facilities in order to keep people inside. A man who is so engaged, why should he add to his problems by demanding for the right of inmates to go out on election days to cast a vote, knowing full well that many of them could use that opportunity to sneak away or scale the fences?

I must commend the INEC Chairman for his patience and for sitting down quietly to receive the CG of Correctional Services and listened to his demand. If I had mystic powers to peer into the Chairman’s mind, he must have thought, when he heard the visitor was coming, that he was coming to offer help to INEC in the policing of voting stations with thousands of his armed warders and trained sniffer dogs. So far, policemen and Civil Defence people, even with armed soldiers in the background, have been unable to provide adequate security at polling stations and counting centers. Prof Yakubu must had hoped that Correctional Services was coming to offer additional help. But they actually came and added to his problems.

CG sir, a man who is inside a Nigerian prison, whether as a convict or as awaiting trial, who told you that voting is on his mind? His first concern is eating. From what we hear from former inmates, powerful warlord inmates control prison wards and they get to eat the best food, before anyone else can feed. It is not only here in Nigeria, mark you. I once read the memoirs of a Watergate burglar who was an inmate in a California prison. He said on his first day in the cell, food was placed on the table and they were told to go and eat. When he stood up, another inmate pulled his trouser and told him to remain seated. All other inmates remained seated. He said one slim inmate then stood up, went and ate, before the rest of them rushed for the food. He soon found out that the first eater was Jimmy “The Weasel” Fratianno, boss of the Los Angeles Mafia family. All the other inmates in the cell were Mafia enforcers who had been brought there from various prisons to serve as his bodyguards!

After food, an inmate’s big concern is personal security. Prisons, deceptively named correctional centers, are very dangerous places despite all the investment in security. Hard drugs, knives, cudgels and all kinds of dangerous objects are routinely smuggled into them, and a guy could get killed for one wrong move. Such wrong moves include resisting sexual molestation, failing to submit to the over lordship of the cell’s kingpin, or even telling other prisoners that you were in there for a small offence such as traffic violation. Many years ago, I read a feature in Daily Times of a man who was sent to

Ikoyi Prison in Lagos for crossing the highway. When each inmate in the cell was asked to state his crime, a fellow inmate advised him to say he committed murder. That earned him instant respect within the cell!

The INEC Chairman said during the visit that while the law allows inmates awaiting trial to vote in elections if they are registered voters, the modalities for doing so have to be worked out. He is right. Is it every body that registered to vote who has the chance to vote? What about people in IDP camps? Someone in Zamfara, Katsina, Kebbi, Niger, Kaduna, Benue and Plateau states who was chased out of his village in the middle of the night by bandits, taking along his PVC is the last thing on his mind. Many people arrive at IDP camps with only the cloth on their necks; many are separated from their families. Which voting are they thinking of?

Prof Yakubu mentioned something, that when inmates are allowed to vote, will political parties be allowed to campaign inside the prisons and to post polling agents at voting centers inside prison walls? Imagine a Nigerian politician standing on a podium inside a prison and campaigning! Nigerian politicians are among the cleverest liars on Earth. They instantly know what voters want to hear, and in the case of an inmate, he has no greater wish than to be out of the prison. During the Second Republic, a clever politician in the old Sokoto State was said to have promised voters that he will install a pump that will dish out fura, the staple sorghum drink of Northern Nigeria! A politician campaigning inside a prison will promise a blanket amnesty for all the prisoners, convicts no matter their crimes, those awaiting trial no matter the gravity or even the weight of evidence against them, and he will even offer blanket amnesty to death row inmates!

CG Nwakuche said on Friday that there are 81,000 people currently in custody nationwide, 66 per cent of them awaiting trial. That number is more than enough to tilt the outcome in a close local government, legislative or perhaps even a gubernatorial election. In Sokoto State in the 2019 election, the governor was re-elected with a 300 vote margin, so imagine what 81,000 votes will do. Also because voter turnout in Nigerian elections is a historic low. Only 26.72% of voters trooped to the polls for the 2023 presidential elections; now that cost of transport and everything else has quadrupled, how many people do you think will troop out in future elections? Inmates, however, will have a greater motivation to vote than free people. At least they will breathe fresh air, and they will also be transported free to polling stations, inside Black Maria trucks. Even those of us who are not [yet] inside prisons, how eager are we to vote in elections? Please CG, concentrate on other problems and forget about making inmates to vote.

Yakubu

L-R: Akwa Ibom State Governor, Pastor Umo Eno; Minister of Budget and Economic Planning, Abubakar Bagudu; Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo and representative of Nigerian Governors Forum, Prof. Abba Gambo at the presentation of 2-year ARISE Agenda Socio-economic impact in Uyo, Akwa Ibom State.