MONDAY 17TH AUGUST 2026

EFCC Recovers $60m in Ongoing Nestoil Investigation

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede, has led a major breakthrough in the Commission’s ongoing investigation into the alleged criminal aspects of transactions

involving Nestoil Limited and a consortium of its lenders.

At a meeting convened and chaired by the EFCC Chairman, a structured repayment plan was agreed between Nestoil Limited and the consortium of lenders

ADVERTORIAL as part of efforts to recover to the consortium during the outstanding indebtedness. course of the investigation.

The agreement has already The payment by Nestoil, yielded significant results, facilitated by a team of with US$60 million recovered operatives from the EFCC from Nestoil Limited and paid Lagos Zonal Directorate 2 led

by the Head of Investigation, Mr. Oguzi Moses, represents a significant milestone in the Commission’s commitment to promoting accountability, protecting the interests of financial institutions, and safeguarding depositors’ funds.

While welcoming the payment as an encouraging development, the consortium of lenders noted that it represents only the first phase of the repayment process, as a Continued on page 5

Insiders: Ojulari Never Awarded Oil Blocks, Has No Statutory Role in Licensing... Page 39 Monday, August January17, 6, 2026 2025 Vol Vol29.

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Bank of Industry Mobilises N250bn Development Bond in Domestic Capital Market as Institutional Demand Spikes Offer oversubscribed within five days in testament to growing investor confidence Olasupo Olusi: strong investor response signals potential of market to mobilise long-term capital

James Emejo in Abuja

Bank of Industry Limited (BoI)

has secured strong institutional demand for its maiden N250 billion Series 1 Fixed Rate Bond,

with the offer oversubscribed within five working days.

The performance

demonstrates the capacity of the domestic capital market to mobilise long-term funding for

productive investment in the country.

The bond, issued through BoI

Financing SPV Plc under the Continued on page 5

Tinubu Calls Adeleke,Tasks Him on Unity as INEC Declares Governor Reelected President says poll outcome reflects people's will, assurance democracy thriving under APC Story on page 5 Urges him to unite his people for growth, stability, socio-economic progress Lauds INEC, security agencies for conducting a peaceful, transparent poll

THE ADELEKES SAVOURING THEIR MOMENT OF VICTORY...

L-R: Osun State First Lady, Titi Adeleke; Osun State Governor, Ademola Adeleke; and the governor’s second wife, Erelu Ngozi Adeleke, yesterday celebrating the governor’s victory in the just-concluded, highly contested gubernatorial election

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NUPRC Plans Oil Swap Framework to Raise Supply, Cut Logistics Costs Emmanuel Addeh in Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced consultations with stakeholders on a new framework for domestic crude oil and gas supply, including a proposed swap arrangement aimed at reducing logistics costs and improving the availability of feedstock for local refineries.

The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this during

a visit to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja, where she said discussions on the proposed crude oil swap were still at an early stage.

Under the proposed arrangement, producers or suppliers with domestic supply obligations could exchange their obligations based on the location of their crude and the proximity of other suppliers to domestic offtakers, an NUPRC statement in Abuja stated at the weekend.

Eyesan explained that

rather than moving crude over long distances to meet specific obligations, companies could agree to swap supplies and subsequently settle the transactions through a netting mechanism.

“How the swap works is that I have an obligation somewhere and I am close to an export facility. Somebody else has an obligation inland and his own facility is close to a domestic offtaker.

“So, instead of trying to move from one end to the other, we just agree on a swap

arrangement and there is a mechanism for them netting off,” she pointed out.

She said the framework, once finalised, was expected to improve compliance with the Domestic Crude Supply Obligation (DCSO) and Domestic Gas Supply Obligation (DGSO) with the gas component to be coordinated with the Gas Aggregation Company of Nigeria Limited (GACN).

The move comes against the backdrop of significant improvement in the volume of crude supplied to domestic

refineries, although imports of crude oil by local refiners have continued.

Latest NUPRC data showed that domestic refineries received 53.7 million barrels of crude between April and June 2026, representing a 97.4 per cent performance under the DCSO for the second quarter.

Despite the improved compliance, Eyesan said the commission was exploring additional measures with industry stakeholders to address the continued need for crude imports and make domestic

Mrs Oritsemeyiwa Eyesan

supply more efficient.

She also pledged to deepen collaboration with the NMDPRA, stressing the importance of greater coordination among regulators across the petroleum value chain.

TINUBU CALLS ADELEKE, TASKS HIM ON UNITY AS INEC DECLARES GOVERNOR REELECTED

Deji Elumoye, Chuks Okocha, Adedayo Akinwale, Sunday Aborisade in Abuja, Yinka Kolawole in Osogbo, Hammed Shittu in Ilorin, Sunday Ehigiator, Ayodeji Ake in Lagos, Onuminya Innocent in Sokoto, Ahmad Sorondinki in Kano and Gbenga Sodeinde in Ado Ekiti

President Bola Tinubu, yesterday, congratulated Osun State Governor, Senator Ademola Adeleke, on his re-election for another term of four years following Saturday’s vote.

The president, in a release by his Special Adviser on Information and Strategy, Bayo Onanuga, spoke to the governor through a telephone conversation to rejoice with him.

Tinubu described Adeleke's re-election as a fitting assurance that democracy would continue to flourish in Nigeria under the All Progressives Congress administration.

"I called Governor Ademola Adeleke earlier today to congratulate him on his election victory in Osun State. His victory once again confirmed the confidence the people of Osun State have in him. I wish

him great success as he prepares to lead the state for the next four years.

“Now that he has won, Governor Adeleke must unite the people of Osun State and rally them for growth, stability, and social and economic progress, regardless of the political choices they made at the election.

"I salute the courage and discipline displayed by other contestants in the election.

Their participation deepened and enriched our country's democratic culture.

“The outcome of the election reflects the will of the people and is a fitting assurance that democracy will continue to flourish in our land," he said.

The president lauded the Independent National Electoral Commission (INEC) and the security agencies for conducting a peaceful and transparent election that produced a clear winner.

INEC Declares Adeleke Winner of Osun Poll The Independent National Electoral Commission (INEC), has declared Governor Ademola

Adeleke of Osun State and candidate of the Accord Party, winner of the 2026 governorship election.

Adeleke defeated his closest challenger, the All Progressives Congress (APC) candidate, Asiwaju Munirudeen Bola Oyebamiji, to secure a second term in office.

The declaration was made by the State Returning Officer, Prof. Joshua Ogunwole, Vice Chancellor, Federal University, Oye Ekiti, at the end of the collation of results from the 30 local government areas of the state.

According to the final results announced by INEC, Adeleke polled 511,067, votes, while Oyebamiji of the APC scored 444,815 votes.

The candidate of the African Democratic Congress (ADC), Hon. Najeem Salaam, came third with 17,180 votes.

The election, conducted on Saturday, August 15, 2026, attracted voters across the state's 3,763 polling units.

Adeleke, however, won 19 Local Government Areas out of the 30 in the state, while Oyebamiji secured 11.

The governor recorded victory

in Boluwaduro, Ede South, Ife North, Ilesa West, Ifedayo, Ife Central, Orolu, Osogbo, Oriade, Odo-Otin, Ife East, Ifelodun, Iwo, Ede North, Ila, Ayedire, Egbedore, Ayedaade and Ejigbo local government areas.

His closest challenger, Oyebamiji, secured victory in Ilesa East, Boripe, Obokun, Ife South, Irewole, Atakumosa East, Isokan, Olaoluwa, Olorunda, Atakumosa West, and Irepodun councils.

The contest was largely between Adeleke and Oyebamiji, with both candidates recording victories in different parts of the state during the collation of results.

Ahead of the final declaration, results from hundreds of wards and thousands of polling units had shown a closely fought contest between the Accord and APC candidates.

Reports from the field indicated that Adeleke maintained lead as the collation progressed.

The election had been preceded by intense campaigns, political realignments and heightened security concerns, with the two major contenders urging their supporters to

remain calm and respect the electoral process.

The declaration marked the conclusion of one of the most closely watched governorship contests in Osun State in recent years.

Adeleke Seeks Post-Poll Peace, Promises to Reinforce Strong Points Correct Errors Governor Ademola Ademola has sued for restoration of peace and unity among Osun people to heal the wounds of pre-election violence even as he promised to expand state development and widen the nets of good governance.

Addressing the media after his election victory, the governor warned against post-election attacks on rivals and avoidance of counter-attacks from old wounds, urging forgiveness and restoration of communal love after weeks of gun attacks across the state.

While observing a minute silence for victims of the pre-election violence, he tasked community leaders and traditional institutions to embark on peace building in

their communities as “the issues are settled by the grace of God and people” The governor who dedicated the victory to God and the people of Osun, commended the resilience, the strong will and unwavering commitment to democracy of the people, promising not to disappoint them.

“As you have trusted me with second term in office, I will reinforce my strong points and correct my errors. Osun will witness further accelerated development and growth under my renewed five point agenda,” the governor reassured.

The governor also commended “Mr President, His Excellency, Senator Bola Ahmed Tinubu for his strong support for a free and fair election,” declaring that, “Mr President is a son of Osun State, and I hereby reaffirm my earlier endorsement of him for a second term in the 2027 presidential election.

“To all lovers of democracy, I thank you for supporting our struggle. From home and abroad, the support is Continued on page 41

BANK OF INDUSTRY MOBILISES N250BN DEVELOPMENT BOND IN DOMESTIC CAPITAL MARKET AS INSTITUTIONAL DEMAND SPIKES

bank’s $1 billion Multi-Currency Instruments Programme, attracted a diversified pool of investors, including Pension Fund Administrators (PFAs), banks, Development Finance Institutions (DFIs), corporates and other institutional investors, according to a statement by BoI. The transaction also received anchor support from the Nigeria Sovereign Investment Authority (NSIA) and the International Finance Corporation (IFC), underscoring the confidence of major institutional investors in the bank's credit quality and its growing role in the domestic capital market.

The development finance institution however, pointed out that the final subscription and allotment figures would not be disclosed yet, as the allotment remains subject to approval by the Securities and Exchange Commission (SEC) and the transaction is still progressing towards completion.

Commenting on the milestone, Managing Director/Chief

Executive, BoI, Dr. Olasupo Olusi, said the outcome demonstrated the ability of the domestic market to support development financing on a large scale.

Olusi attributed the strong demand, in part, to interventions

by President Bola Tinubu, particularly executive approval for incentives designed to encourage investors to participate in the bond.

He said, "The strength of the investor response is a vote of confidence not only in BoI, but also in the capacity of Nigeria’s domestic capital market to mobilise long-term capital for productive investment.

"As a development finance institution, we could not have received the strong investor demand for the bond in five working days without the support of President Tinubu who gave his executive approval for various incentives to encourage investors.

"This became a leverage and a positive signal to discerning investors. Mr. President deserves

the honour for this feat”.

Olusi further disclosed that a N100 billion fund approved for the bank by Tinubu would be deployed to blend the pricing of the bond and cushion the impact of high interest rates for manufacturers and other BoI customers.

“This is further testament of Mr. President’s support for Nigeria’s productive sector,” he said.

The bank said the immediate significance of the offer was therefore the strength and quality of demand, the relatively low pricing achieved and the breadth of the investor base.

Having established a track record in international capital markets, the bank said the bond would complement its external funding channels with greater mobilisation of funds from domestic institutional investors.

BoI said proceeds from the issuance would enhance its capacity to provide long-term financing to eligible enterprises across priority sectors, with a

focus on productive capacity, local value addition, employment creation and economic diversification.

Specifically, Olusi said the ultimate objective was to convert the confidence demonstrated by investors into greater financing for Nigerian businesses, with potential implications for industrial expansion, job creation, domestic value chains and economic competitiveness.

Also, beyond the immediate financing, the bank said the successful offer represented a broadening of its funding architecture and another step in the development of the domestic market for long-term development capital.

The strong participation of PFAs, banks, DFIs, corporates and other institutional investors, according to BoI, points to sustained appetite for highquality long-term domestic assets.

The participation of NSIA and IFC as anchor investors also strengthened the institutional depth of the transaction, while

reinforcing BoI’s position as a credible domestic capital-market issuer.

The bank said the transaction should therefore be viewed not merely as a successful bond issue but as evidence of the potential for Nigeria's domestic capital market to channel long-term institutional savings into productive sectors.

BoI maintained that the bond would strengthen its

credentials as a repeat capitalmarkets issuer while providing additional capacity to finance the establishment, expansion, diversification, modernisation and rehabilitation of enterprises.

It stressed that its broader financing mandate remained focused on industrial development, import substitution, poverty alleviation, job creation and economic diversification.

EFCC RECOVERS $60M IN ONGOING NESTOIL INVESTIGATION substantial portion of the outstanding debt remains to be settled. The lenders reaffirmed their commitment to working closely with the EFCC and other relevant stakeholders to ensure the seamless continuation of the recovery process until the outstanding indebtedness is fully liquidated.

The lenders also reiterated their commitment to supporting the EFCC by providing all relevant documents required for

the diligent prosecution of the investigation, while ensuring that all parties comply with the law and that the recovery process remains lawful, transparent, and commercially responsible.

The EFCC reaffirmed its resolve to pursue the investigation to its logical conclusion and to ensure the full recovery of depositors’ funds in accordance with the law.

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

CONFERENCE ON TRANSPARENCY, ACCOUNTABILITY AND INTEGRITY IN ELECTORAL PROCESS...

L-R: Member, Independent Judicial Accountability Panel (IJAP), ActionAid, Nigeria, Prof. Okechukwu Ibeanu; Member, IJAP, Tsokwa Sechap Esq; Member, Dr. Imoni Amarere; Vice Chairman, IJAP, Prof. Jummai Audi; Chairman, I,JAP, Hon. Justice Mojeed Owoade Rtd; Country Director, ActionAid, Nigeria, Dr. Andrew Mamedu; and Member of the Panel, Olufunmilola Olukeye Esq, during the Fifth Session of IJAP under the CITI-ACT Project of ActionAid Nigeria held in Abuja, last Thursday PHOTO: ENOCK REUBEN

WHO: Nigeria Among Nations Hit by 10,400 Healthcare Attacks in 8 Years Says 5,700 killed, over 8,000 injured in 29 countries Declares no one has been held accountable

Emmanuel Addeh in Abuja

The World Health Organisation (WHO) has listed Nigeria among countries where attacks on healthcare have been recorded over the past eight years, disclosing that more than 10,400 such incidents have been reported globally since 2018.

The attacks, which occurred across 29 countries and territories, resulted in approximately 5,700 deaths and more than 8,000 injuries, according to the United Nations (UN) organisation.

In its latest update published at the weekend, the UN health agency said more than 900 attacks were recorded between January and August 2026 alone, resulting in at least 900 deaths and over 1,400 injuries.

It listed Nigeria alongside Ukraine, Lebanon, the occupied Palestinian territory, Myanmar, Iran, Sudan, the Democratic Republic of the Congo (DRC), South Sudan, Russia and Syria among locations where attacks on healthcare had occurred this year.

The WHO's surveillance system covered attacks on hospitals and other healthcare facilities, healthcare workers and patients, ambulances and other medical transport, as well as warehouses and medical supplies.

The agency said the incidents had taken different forms, including the use of heavy weapons, destruction of healthcare facilities and psychological violence against

healthcare workers and patients.

Speaking during a briefing in Geneva, WHO Director for Humanitarian and Disaster Management, Altaf Musani, said the consequences of such attacks extended beyond those killed or injured during an incident.

He explained that attacks could leave patients without treatment, prevent ambulances from making referrals, keep healthcare workers away from work and disrupt the delivery of medicines and other supplies.

“When a hospital is attacked, the impact is not only on the people inside the hospital that day. It is the patient who cannot receive healthcare tomorrow. It is the ambulance that cannot make the next referral. It is the healthcare worker who cannot

return to work, or medicine supply that can no longer reach facilities,” Musani said.

The WHO said it also recorded 44 incidents involving the abduction, arrest or detention of healthcare workers and patients between January and August, with healthcare worker detentions accounting for most of the cases and affecting 94 people.

“These are not simply statistics,” said Musani. “Behind every percentage is a patient.

Behind every damaged facility is a service lost. Behind every interrupted service is someone who will be left without healthcare,” Musani added.

In Nigeria, terrorism has had a severe impact on healthcare, particularly in areas affected by

Renewables: Visiola Foundation Ends Summer Camp for 100 Teen Girls in FCT 8-day programme draws participants from 45 schools

Emmanuel Addeh in Abuja

The Visiola Foundation at the weekend concluded its 2026 Science, Technology, Engineering and Mathematics (STEM) Summer Camp for teen girls with a landmark renewable energy innovation challenge, bringing to a close an intensive eight-day programme that equipped 100 young women from 45 junior and senior government secondary schools across Abuja.

The initiative also involved the deployment of cutting-edge skills in renewable energy technologies, electronics, automation, and engineering

design.

This year's camp, themed: "Powering the Future: Girls Leading Africa's Renewable Energy Revolution," ran from August 8 to 15, 2026, and immersed participants aged 13 to 17 in a rigorous, projectbased curriculum covering the fundamentals of electricity, solar and wind energy systems, smart technologies, microcontroller programming, and the full engineering design process.

Working in teams, students identified real-world community energy challenges, then designed, built, tested, and presented functional renewable energy prototypes before a distinguished

panel of judges.

In the end, group eight emerged winners, having worked on a prototype of a SmartFarm with an automated farming system designed to make farm operations easier, safer, and more efficient.

In her opening remarks, President of the Visiola Foundation, Ladé Araba, underscored the importance of experiential learning especially in public schools where resources may be limited.

“Africa's youth population continues to grow rapidly at the same moment that digital and technical competency is becoming the entry requirement for a

growing share of jobs worldwide.

Expanding experiential STEM learning in African public schools is one of the clearest and most direct levers available for turning this demographic pressure into a source of skilled talent, higher household income, and long term economic growth for the continent.” Araba stated.

Chief Executive Officer of FGN Power Company, Mr. Kenny Anuwe, served as the chief judge for the closing competition, lending his considerable expertise and stature to an event that showcased the extraordinary talent and ingenuity of Nigeria's young women in science and engineering.

insurgency and other forms of violent extremism. Attacks on hospitals, health workers and patients, as well as threats against medical personnel, have disrupted the delivery of essential services and forced some facilities to close or operate below capacity.

Besides, in conflict-affected communities, insecurity has also made it difficult for healthcare workers and patients to travel safely, while attacks on roads and other infrastructure have disrupted the movement of medicines, vaccines and other

medical supplies.

According to Musani, the wider disruption caused by attacks on healthcare was reflected in a study of 69 attacks in northwest Syria, which found that outpatient consultations fell by 51 per cent the following day, with the decline continuing for up to 37 days.

“Most incidents occurred in Ukraine, Lebanon and the occupied Palestinian territory, but other locations include Myanmar, Iran, Sudan, the DRC, South Sudan, Russia, Syria and Nigeria,” WHO stated.

NASENI Kicks-off FutureMakers Hackathon for 60 Young Innovators

Winners to receive N1.5m, N1m and N500,000 zone prizes

Sunday Ehigiator

National Agency for Science and Engineering Infrastructure (NASENI) is set to commence FutureMakers by NASENI Virtual Hackathon and Pitch Sessions, with 60 young innovators selected from across Nigeria’s six geopolitical zones.

The five-day virtual hackathon, organised by NASENI Innovation Hub, is scheduled to hold from Monday, August 17, to Friday, August 21, while the pitch sessions will take place from Monday, August 24, to Wednesday, August 26.

According to a statement issued yesterday by NASENI’s Deputy Director, Information, Chima Akwaja, the 60 participants were shortlisted from thousands of entries received for the competition.

The selected innovators will develop working solutions to

challenge statements specific to their respective geopolitical zones, with support from technical facilitators and mentors.

Akwaja stated, “Those who advance from the hackathon will proceed to the pitch sessions, where they will present their solutions before a panel of judges and industry leaders.

“The pitch sessions will also be streamed live on YouTube and Facebook.”

NASENI said winners emerging from each geopolitical zone would receive prizes of N1.5 million, N1 million and N500,000, respectively.

He added, “The top six winners from the zones will proceed to pitch their innovations at the NASENI Invention Fest, where they will have an opportunity to win a grand prize of N5 million, an international study tour and fully funded scholarships to two leading Nigerian universities.”

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NEWS

WHEN TINUBU RECEIVED NUPENG NEWLY ELECTED LEADERSHIP...

L-R: National Deputy President , NUPENG, Comrade Oladejo Ebenezer Akin; President of Nigeria Union of Petroleum and Natural Gas workers, Comrade Salimon Akanni Oladiti; President Bola Ahmed Tinubu; Minister of Information and National Orientation, Mohammed Idris; Minister of state for Petroleum, Heineken Lokpobiri; Special Adviser to the President on Energy, Mrs. Olu Verheijen; and other newly elected members of NUPENG during their visit to the presidential villa in Abuja....recently GODWIN OMOIGUI

NSDC Mobilises $1bn Investment Pipeline to Drive Nigeria’s Sugar Self-Sufficiency Targets two million tonnes of locally produced sugar under NSMP 2.0 Tightens import-quota enforcement, deploys satellite monitoring for backward integration

Sunday Ehigiator

National Sugar Development Council (NSDC) has unveiled a fresh investment and enforcement strategy aimed at accelerating Nigeria’s drive towards sugar self-sufficiency.

The strategy is anchored on a $1 billion engineering, procurement, and construction (EPC)-plusfinance partnership with China’s SINOMACH and a N10 billion Sugar Project Acceleration Fund.

The Council said the initiative, which forms part of the Nigeria Sugar Master Plan (NSMP) 2.0, is designed to transform the

country’s sugar industry into a major industrial and investment opportunity while reducing dependence on imported sugar.

The Executive Secretary/Chief Executive Officer of the NSDC, Kamar Bakrin, disclosed the plan when he received members of the Abuja Chapter of the Chartered Institute of Directors (CIoD) on a courtesy visit to the Council’s headquarters in Abuja.

According to the Council, Nigeria consumes about 1.8 million metric tonnes of sugar annually, with an estimated $1 billion flowing to foreign producers every year.

EITI Assessors Leave Nigeria, Laud Improved Extractive Sector Transparency Emmanuel Addeh in Abuja

Assessors from the global Extractive Industries Transparency Initiative (EITI) have lauded Nigeria for improving systematic disclosures across the extractive sector, saying the reforms have enhanced real-time access to information and data.

The assessors also praised the Nigeria Extractive Industries Transparency Initiative (NEITI) for its coordinated stakeholder consultations during the 2026 EITI validation exercise, particularly its high-level engagements with the National Assembly and the public hearing on NEITI’s industry reports.

The commendations came during a debriefing session with NEITI’s senior management team at the end of a five-day in-country validation mission held from August 10 to 14, a statement from NEITI

spokesperson, Obiageli Onuorah said.

The mission was led by Riley Zecca and included Jessica Sanchez and EITI Africa Country Director, Gilbert Makore.

Zecca commended the breadth and quality of stakeholder participation, urging Nigeria to sustain the momentum by institutionalising improved systematic disclosures and ensuring that information is published promptly and remains accessible.

He said stronger and more consistent disclosures would enhance transparency, accountability and public trust in Nigeria’s extractive sector.

Zecca also commended NEITI for the effectiveness of the validation consultations, noting that the quality of the information provided would enable the assessors to assess Nigeria’s progress with confidence.

Bakrin said the figure represented a ready domestic market that could be captured by Nigerian producers, generating jobs, rural incomes, foreignexchange savings and industrial capacity.

He said the central challenge confronting the sector was not the absence of government policies but poor implementation.

“We don’t lack policy. What we have struggled with is worldclass execution,” Bakrin said.

He added the problem was fundamentally one of governance rather than farming, arguing that effective institutions could close the gap.

Bakrin described NSMP 2.0 as an “acceleration mandate” designed to compress Nigeria’s journey towards self-sufficiency, with a target of producing about two million metric tonnes of sugar locally.

The NSDC boss said the Council’s ambition extends beyond replacing imported sugar, noting that sugarcane could serve as the foundation for a wider bio-industrial economy.

He explained that sugarcane could produce sugar, ethanol, animal feed and electricity, making it capable of supporting several interconnected industries.

“We have been blessed with a crop that is one of the most generous God has ever made.

From sugarcane you can get sugar, you can get ethanol, you can get animal feed, you can produce power. Our job is to build a bio-industrial ecosystem around it, this is not just about producing a commodity,” he said.

To strengthen investor confidence, the Council said it had also redesigned its Backward Integration Programme around four principles: qualify, reward,

verify and enforce.

Under the new regime, companies seeking import quotas would be required to demonstrate genuine commitment to backward integration, while major refiners would provide audited production commitments linked to their quotas.

The NSDC said consequences would apply where companies fail to meet their commitments.

It added that satellite imagery would be deployed alongside physical field inspections to independently verify activities at sugar project sites, replacing reliance on self-reporting with data-driven monitoring.

Bakrin said the Council had identified the absence of bankable projects, rather than a shortage of capital, as a major obstacle to investment in the sector.

To address this, the N10

billion Sugar Project Acceleration Fund, established with the Bank of Industry, would finance feasibility studies and project preparation, turning greenfield sugar sites into investment-ready projects.

The resulting projects would feed into the $1 billion EPC-plus-finance agreement with SINOMACH, creating a channel for construction and financing once projects are prepared.

The Council said it was also engaging the African ExportImport Bank (Afreximbank) and partnering with the Nigeria Governors’ Forum to accelerate the development of sugar estates across the country.

The Council said smallholder farmers and host communities would remain central to the new strategy through the Sugarcane Outgrower Development Programme.

FG: Diaspora, Strategic Partnerships Critical to Nigeria’s Security, Prosperity Michael Olugbode in Abuja

The federal government has declared that Nigeria’s growing engagement with its diaspora and strategic international partners will be central to its efforts to strengthen national security, expand economic opportunities and drive sustainable development.

Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, stated this at the Dinner Night of the Nigerian Diaspora Economic Conference in Toronto, Canada, where he outlined the government’s

approach to security, diaspora engagement and Nigeria’s emerging strategic partnerships.

Enikanolaiye said security remained one of the country’s major challenges but assured that the administration of President Bola Tinubu was deploying every available means to contain the security threats that had confronted Nigeria for more than a decade.

“Security remains a major challenge, but the current administration is doing everything humanly possible to ensure that we contain these that have been with us in multifaceted manner for

the past 10 or so years,” he said.

The minister disclosed that Nigeria was entering what he described as a “new era of partnership of strategic autonomy” with key international partners, including the United States.

He revealed that he had just returned from Washington, where he participated in high-level engagements with American officials.

“I came in from Washington only yesterday. I was privileged to have been part of the team meeting with the Americans,” he said.

According to him, the renewed

engagement is designed to produce tangible benefits for Nigerians rather than merely symbolic diplomatic relationships.

He said the objective was to secure “core, concrete, positive outcomes for Nigerians in terms of security, in terms of prosperity, in terms of defence and the welfare of the Nigerian people.”

The minister’s remarks come as Nigeria continues to deepen international cooperation on security, economic development and strategic interests, while seeking partnerships that reflect the country’s national priorities.

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opinion@thisdaylive.com

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ENDING THE CYCLE OF WASTE

President Tinubu’s directive that the refineries be run as profitable ventures must be adhered to, writes SOLA ADEMORITAN

See page 21

BEFORE WORDS BECOME BLOOD

PAT ONUKWULI argues against reckless political and religious rhetoric

See page 21

EDITORIAL

TIME TO REFORM FOOTBALL ADMINISTRATION

See page 22

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Malaysia holds lessons for Nigeria, writes UCHE UWALEKE

RETHINKING THE CBN’S MANDATE During a recent academic study tour of key financial institutions in Malaysia with some of my Ph.D students from Nasarawa State University, Keffi, I had the opportunity to visit Bank Negara Malaysia (BNM), the Central Bank of Malaysia, where senior officials made presentations on the Bank's mandate and institutional framework. What particularly caught my attention was the positioning of sustainable economic growth as the ultimate objective, with monetary stability serving as an important means towards achieving that broader objective. I was equally struck by the emphasis placed on enhancing the financial well-being of households and businesses as one of the Bank's strategic thrusts. These aspects of the Malaysian framework prompted me to reflect on what Nigeria might learn from a central banking model that appears to place monetary stability within a broader developmental conception of economic policy. The Malaysian experience therefore offers Nigeria an opportunity to revisit a fundamental question about the role of a central bank in a developing economy: should monetary stability be regarded essentially as an end in itself, or as one of the instruments through which the broader objective of sustainable economic growth and improved economic welfare can be achieved?

The question is not whether monetary stability matters; it unquestionably does, because stable prices are indispensable to investment, savings, production and household welfare. The more important question is whether a developing economy such as Nigeria should expect its central bank to remain largely focused on monetary stability while leaving the pursuit of sustainable economic growth almost entirely to the fiscal authority. It has been argued that the real issue for Nigeria is not the formal scope of the Central Bank of Nigeria's mandate but the quality of coordination between monetary and fiscal authorities. There is considerable merit in this argument.

Monetary policy does not operate in isolation from fiscal policy, and every significant monetary-policy decision has implications for government debtservicing costs, business financing, household borrowing, investment and productive capacity. Fiscal policy, in turn, affects inflation, liquidity conditions, exchange rates and the effectiveness of monetary policy. It is therefore difficult to envisage a successful economic policy framework in which the monetary and fiscal authorities operate as though they inhabit entirely separate economic universes.

However, while coordination is necessary, I do not believe it is sufficient.

The critical question is how such coordination should be institutionalized and sustained beyond the personalities or policy preferences of particular administrations and central-bank managements. Coordination is essentially a process, whereas a statutory mandate establishes an institutional obligation.

If sustainable economic growth is not expressly recognized within the legal framework governing the CBN, there is a risk that successive managements of the Bank will concentrate overwhelmingly on those objectives that are most clearly articulated in the law and regard broader developmental concerns as secondary or discretionary. This is why I believe that an amendment to the CBN Act of 2007 deserves serious consideration. I submit that the CBN Act should explicitly recognize sustainable economic growth as an overarching objective, while retaining monetary and financial stability as indispensable conditions for achieving it. Such an amendment would not mean transforming the CBN into a development agency, asking it to substitute for the fiscal authority, or giving it a licence to sacrifice price stability whenever growth becomes politically desirable. Rather, it would establish a statutory framework within which the CBN is expected to consider how its monetary and financial policies can contribute to productive capacity, investment, employment and the financial well-being of households and businesses. There is an important distinction between giving the CBN responsibility for development and giving it a responsibility to contribute to development; it is the latter that I am advocating. The experience of the United States is instructive in this regard. The Federal Reserve operates under a dual mandate that includes price stability and maximum employment,

demonstrating that recognition of broader economic outcomes within a central bank's statutory framework does not necessarily undermine monetarypolicy credibility or central-bank independence. If a highly developed economy with deep and sophisticated financial markets can accommodate broader economic objectives within its central-bank framework, there is little reason to assume that a developing economy such as Nigeria must necessarily confine its central bank to an exceptionally narrow conception of its responsibilities. Indeed, given Nigeria's structural challenges, including inadequate productive capacity, limited access to finance, weak industrialization and high unemployment, the case for a framework that recognizes the developmental implications of monetary and financial policy may be even stronger. Another argument that deserves serious consideration is Nigeria's recent experience with development finance under the previous CBN administration. The Bank became deeply involved in several intervention programmes designed to support agriculture, manufacturing and other sectors of the economy, and some of these interventions understandably generated concerns about the appropriate boundaries between monetary policy, fiscal policy and credit allocation.

Questions were also raised about their scale, implementation and institutional consequences. Those concerns should not be dismissed, but neither should we draw the conclusion that developmental central banking has no legitimate place in a developing economy. The fact that a policy instrument can be abused does not invalidate the underlying principle. The appropriate lesson is that developmentoriented interventions must operate within clear rules, transparency, accountability, institutional limits and proper coordination with fiscal policy.

Nigeria should therefore avoid moving from one extreme to another: from a CBN that attempts to do too much to one that does too little. The challenge is to identify the institutional middle ground in which the central bank remains credible and disciplined in preserving monetary and financial stability while recognizing the structural realities of a developing economy.

Prof. Uwaleke is the Director of the Nasarawa State University Institute of Capital Market Studies and President of the Capital Market Academics of Nigeria

T H I S D AY

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PAT ONUKWULI argues against reckless political and religious rhetoric

President Tinubu’s directive that the refineries be run as profitable ventures must be adhered to, writes SOLA ADEMORITAN

BEFORE WORDS BECOME BLOOD

ENDING THE CYCLE OF WASTE

Some words heal; others leave scars that nations carry for generations.

Words can calm a crowd or inflame a mob, bind a country together or turn neighbours into enemies. Nigeria must recognise this danger before reckless political and religious rhetoric hardens into something far more destructive. In a nation already strained by insecurity, sectarian tension and political distrust, inflammatory speech from influential voices cannot be dismissed as mere rhetoric.

As Nigeria approaches another election cycle, politicians and clerics must remember that words carry consequences. When public figures demean religious groups, threaten opponents, or cast fellow citizens as enemies, disagreement can quickly harden into hostility. Politics should yield to ballots, not bullets; religion and conscience, not carnage; leadership and restraint, not flames. History shows the danger of allowing inflammatory rhetoric to become commonplace.

That is why the remarks attributed to Sheikh Sani Yahaya Jingir warrant unequivocal condemnation. The National Human Rights Commission said he used derogatory language about people of other faiths, promoted religiously exclusive politics, and made statements capable of inflaming sectarian hostility. A cleric is entitled to political views, but no religious leader should reduce citizenship to a contest between believers and outsiders or turn the pulpit into a platform for division.

Again, Senator Francis Fadahunsi’s remarks in Osun were equally troubling. In a widely circulated video, he reportedly said that if an Accord Party member was found in Ilesa, “we will kill him.” He later said he meant defeating Accord at the ballot box, not physical violence. That clarification matters, but a senator should know that language threatening the killing of political opponents is dangerously combustible in an already tense political climate.

Social-media verdicts should not settle these matters. They should be investigated under the law. Where

there is sufficient evidence that either man or anyone else committed an offence, the person should be charged and brought before a court. Nobody should enjoy immunity because of their status as a senator, celebrated cleric, ruling-party figure or opposition heavyweight. The law must not know big men and small men; it must know conduct, evidence and justice.

History warns of its urgency. Nazi propaganda dehumanised Jews long before persecution escalated into genocide. In Rwanda, radio and newspapers helped turn hatred into a weapon, and media figures were later convicted of incitement to genocide. In Myanmar, the United Nations documented widespread hate speech alongside brutal violence against the Rohingya. The contexts differ, but the lesson endures: violence is often preceded by language that makes its victims easier to hate.

Nigeria’s laws recognise that free expression is vital but not absolute. Section 39 of the Constitution protects the right to hold and express opinions, while Section 45 permits restrictions in the interests of public safety, public order and the rights of others. That balance is essential: “hate speech” must never be a pretext for silencing dissent, but free speech cannot be a shield for threats or incitement.

The criminal law draws a similar line.

Section 417 of the Penal Code prohibits conduct intended to stir hatred or contempt against a class of persons, where such conduct endangers public peace.

In contrast, Section 418 addresses false reports capable of causing fear, alarm or breaches of the peace. The principle is clear: speech may offend, but when it becomes a vehicle for incitement or public disorder, the law must respond.

The Electoral Act 2026 is even more explicit. Section 96 bars abusive campaign language that could inflame religious, ethnic, tribal or sectional tensions; Section 97 prohibits threats of force or violence intended to influence political support; and Section 101 outlaws campaigning along religious, tribal or sectional lines. The message is unmistakable: politics is not a free-for-all.

That is why President Bola Tinubu's statement that “all is fair in politics” is troubling and, as a democratic principle, incorrect. He made the remark during a recent meeting with Catholic bishops in Abuja. All is not fair in politics. Murder is not fair. Threatening voters is not fair.

Religious intimidation, ethnic hatred, electoral violence and rigging are not fair. Democracy is competition under rules; even warfare has rules. Indeed, the Electoral Act itself sets clear boundaries, showing that not everything is permissible in politics.

Dr. Onukwuli is a legal scholar and public affairs analyst. patonukwuli2003@yahoo.co.uk

For decades, Nigeria’s refineries have stood as perhaps the most frustrating symbol of the country’s paradox: a nation endowed with abundant crude oil but repeatedly compelled to spend scarce foreign exchange importing refined petroleum products.

Against that history of disappointment, President Bola Ahmed Tinubu’s latest declaration that Nigeria’s refineries must return to work, and, more importantly, become profitable represents an audacious shift in the way the government is approaching the country’s troubled downstream petroleum sector.

Tinubu’s message is notable because he is not merely promising to restart the refineries. He is insisting that they must deliver commercial value.

Receiving the national leadership of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) at the State House in Abuja, the President said the federal government was undertaking a comprehensive reset, restructuring and technical assessment of the refineries to address the structural, operational, financial and managerial problems that have repeatedly undermined their performance.

Nigeria has seen refineries “revived” before, at least on paper. Billions of dollars have been committed to rehabilitation projects over the years, yet sustained productive operation has remained elusive. Tinubu is therefore confronting a problem that is not simply technical but institutional and commercial.

His assertion that the mere presence of “flame and smoke” from a refinery does not mean that it is working unless it is profitable goes to the heart of the matter.

A refinery is not successful because its machines turn on. It is successful when it reliably processes crude, produces refined products at commercially viable costs, competes effectively, reduces dependence on imports and generates value for its owners, the Nigerian people. That is the audacious part of the President's proposition.

Nigeria's petroleum story has historically been characterised by an uncomfortable contradiction. The country produces crude oil on a significant scale, yet its domestic refining capacity has frequently failed to meet national demand.

The result has been a costly dependence on imported refined products, exposing the economy to international price movements, foreign exchange pressures and supply disruptions.

Tinubu's administration has already taken one of the most consequential steps in this area with the removal of the petrol subsidy. NUPENG President Salimon Akanni Oladiti, while meeting

the President, described the decision as courageous and said it had helped halt what he characterised as decades of financial drain on national resources.

But subsidy removal creates its own obligation: the government must ensure that the structural savings and reforms ultimately translate into a more efficient energy economy. That is where domestic refining becomes crucial.

Functional refineries can strengthen energy security, reduce import dependence and create opportunities across the petroleum value chain. They can also generate employment and stimulate supporting industries, from logistics and engineering to maintenance, transportation and manufacturing.

For the workers represented by NUPENG, this is not simply a matter of national economic theory. It affects their daily livelihoods.

Oladiti's comments are instructive.

He linked improved roads to the welfare of tanker drivers, noting that safer highways mean fewer accidents, fewer spillages and reduced stress for workers transporting petroleum products across the country.

The same logic applies to refining. A more efficient domestic refining system can fundamentally alter the operating environment for petroleum workers and businesses. Yet the President's declaration should also be judged against Nigeria's long history of ambitious announcements concerning refineries.

The most important question is not whether the refineries will restart. It is whether they can remain operational.

That requires answers to difficult questions about crude supply, maintenance, management, financing, technical competence, operational efficiency, security and commercial governance.

It also requires a business model capable of surviving beyond political cycles. This is why Tinubu's emphasis on research, technical assessment, effective management and profitability is particularly significant.

Ademoritan writes from Lagos State

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T H I S D AY MONDAY AUGUST 17, 2026

EDITORIAL

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

TIME TO REFORM FOOTBALL ADMINISTRATION

L

The Nigeria Football Federation is incompetent

ike the Super Eagles, Nigeria’s senior women’s football team, the Super Falcons, will not be in the lineup when the FIFA Women’s World Cup kicks off next year in Brazil. Last Thursday night at the WAFCON 2026 playoff in Casablanca, Morocco, South Africa’s Banyana Banyana inflicted a painful 2-1 defeat on the Falcons. It is the first time since the inaugural edition in China in 1991 that Nigeria will be missing the biggest stage of women’s football. It is also the first time that the 10-time African champions, even as cup holders, will be kicked out of the WAFCON at the quarterfinal stage.

Nigeria was expected to make amends for the loss to Cameroon in that quarterfinal by going all the way to picking one of the two slots reserved for Africa to the 10-team Inter-confederations playoffs in November. There, the two African playoff winners would join eight others from Asia, CONCACAF, CONMEBOL, Oceania and Europe to fight for the last three tickets to the World Cup in Brazil. But all that permutations have now fallen apart, leaving Nigeria out of the party in Brazil next year. South Africa and the other winner, Ghana, will represent Africa at the Inter-confederation playoffs. Like DR Congo did in the men’s playoff last March, denying Nigeria the chance and ultimately going all the way to qualify for the 2026 World Cup in North America, South Africa and Ghana could become the latest beneficiaries of one or two of the three tickets at stake to Brazil 2027.

The Nigeria Football Federation (NFF) should be held accountable for what happened. Instead of putting all efforts in ensuring that Falcons prepared adequately, the leadership of the federation was busy crisscrossing the country, politicking on how

to win the September 27 Elective Congress in Lafia, Nasarawa State in order to perpetuate themselves in office. The Ibrahim Musa Gusau-led NFF board has done enough damage to football in the country more than any other. This is the first time the country’s two biggest football brands would be missing from the World Cup simultaneously.

But that is not all. The ‘Dream Team’ (under-23) failed to qualify for the last Olympic Games. The ‘Golden Eaglets (under-17) also failed to qualify for the last World Cup. In other climes, these setbacks are enough reasons for Gusau and his board to resign from NFF. But Gusau and his men are plotting their return unmindful of the fact that football is the single biggest sport that unites Nigerians. It brings joy, apart from the economic values derivable from it.

As the biggest financier of football, it is time for the federal government to have a say in those who manage the game at states and federal levels without necessarily interfering in the day-to-day running of the associations and the NFF. The state FAs are under the state governments. Let the governors through their sports commissioners ensure that only competent persons get there. They must stop using these offices as lollipops for party supporters.

To ensure that these FA chairmen who populate the NFF Congress do not go to Lafia to rubber-stamp Gusau for another four years of misery for Nigeria, that Elective Congress should be put on hold while search for competent men (and women) to revive the administration of the game in the country begins in earnest. Two back-to-back missed men’s World Cups and now a first absence for our ladies at Brazil 2027 are enough reasons for the NFF leadership to vacate office. We have had enough of incompetent fellows at the helms of Nigerian football.

Two back-to-back missed men’s World Cups and now a first absence for our ladies at Brazil 2027 are enough reasons for the NFF leadership to vacate office T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

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

LETTERS

WIKE AND ABUJA’S CHANGING BUSINESS ENVIRONMENT

When the Federal Capital Territory (FCT) was ranked 31st in the 2023 Subnational Ease of Doing Business assessment, there was little indication that within a relatively short period, Nigeria’s capital would make a dramatic leap into the country’s top five business-friendly destinations.

Today, that story has changed.

FCT’s remarkable rise in PEBEC ranking reflects infrastructure renewal, land administration reforms, improved service delivery and a reinvigorated investment drive. While such rankings are the product of several institutions, reforms and measurable indicators, the FCT’s improved performance reflects the direction of the administration of the Minister of the FCT, Ezenwo Nyesom Wike, particularly its emphasis on infrastructure, land administration, institutional effectiveness, service delivery and private-sector investment.

Since assuming office, Wike has made infrastructure development one of the defining features of his administration. Across the capital, the construction, rehabilitation

and expansion of roads have opened important corridors, improved connectivity and enhanced movement within the city and its satellite communities.

But perhaps equally consequential to Abuja’s investment environment has been the administration’s attention to land reforms and the restoration of discipline in land administration.

The Wike administration has taken a firmer approach to addressing longstanding challenges within the system.

This has included measures to strengthen the integrity of land documentation, tackle abuses associated with land allocations, enforce development conditions and improve accountability in the administration of land.

The administration has also moved to address the long-running issue of Area Council land documentation and regularisation, providing a pathway for affected property owners to formalise their interests within the statutory framework of the FCT. The introduction and enforcement of ground rent obligations, together with efforts to recover outstanding

revenues associated with land and property, have also reinforced the principle that land administration must be accompanied by responsibility and compliance.

Beyond land and infrastructure, the FCT has also recorded progress in institutional areas important to businesses, including access to commercial justice, grievance-redress mechanisms and increasingly technology-driven public services. Functional Small Claims Courts, for example, provide businesses, particularly Micro, Small and Medium Enterprises, with a faster and less cumbersome route for resolving certain commercial disputes.

An important part of this emerging story is the role of Abuja Investments Company Limited (AICL), the investment arm of the FCT Administration.

Dr. Jumai Ahmadu, Director, Reform Coordination and Service Improvement Department, FCTA jumaiabuahmadu@yahoo.com

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Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sms only

M O N D AY D I S C O U R S E

Beyond Adeleke’s Re-election as Osun Gov

Senator Ademola Adeleke of the Accord Party was at the weekend re-elected Governor of Osun State amid stiff opposition from Bola Oyebamiji of the All Progressives Congress and Hon Najeem Salaam of the African Democratic Congress. Deji Elumoye reports.

T

he 2026 gubernatorial poll in the State of the Living Spring which took place on Saturday, August 15, 2026 was devoid of crisis in all the 30 local government areas of the state. This was a sharp contrast to what transpired in the build-up to the election when several cases of alleged killing of political opponents were reported in different parts of the state.

Although the electoral umpire, the Independent National Electoral Commission (INEC), cleared 14 political parties for last Saturday’s governorship poll, it was, however, a three-horse race between candidates of the Accord Party, All Progressives Congress and African Democratic Congress.

Accord Party fielded the incumbent Governor, Ademola Adeleke, who was first elected in 2022 under the platform of the People’s Democratic Party. He later resigned from PDP in November, 2025 due to crisis rocking the main opposition party at the national level and defected to Accord.

Adeleke traversed the nook and cranny of the state campaigning for people’s vote with a five-point reloaded agenda focusing on youth, women, workers, infrastructure, agro-industrialisation, health, education. The ‘Dancing Governor’ also played up his achievements in over three years to include construction of 350-kilometer roads, three flyovers, 332 boreholes, Imole Medical Outreach for 80,000 residents, N4 billion for cooperatives, paid N100 billion pension debts and succeeded in moving Osun’s yearly ranking by WAEC from 33rd to 7th.

On its part, the All Progressives Congress fielded Bola Oyebamiji popularly known as AMBO who campaigned on prosperity agenda with the campaign strategy and backing of the party’s national leaders including Governor Hope Uzodimma of Imo State, President of the Senate, Senator Godswill Akpabio and House of Representatives Speaker, Hon Tajudeen Abbas. He also positioned himself as “technocrat” alternative to incumbent Governor Adeleke as he moved round the state to campaign.

The African Democratic Congress candidate, Hon Najeem Salaam, a twotime former Speaker of the State House of Assembly had a 10-point agenda as his campaign message with the party being positioned as protest platform for aggrieved APC/PDP members with former governor of the state and current National Secretary of the ADC, Ogbeni Rauf Aregbesola as arrowhead of Salaam’s campaigns.

Some specific key Issues cropped up in the build-up to governorship election. There was party realignment which resulted in the PDP collapsing both nationally and in Osun forcing Adeleke to defect to Accord Party with weak national spread but gave Osun Governor a recognized political platform and full control of the party machinery.

There was also the Aregbesola factor whose move to ADC national leadership made ADC a potential spoiler or kingmaker.

On peace and credibility, stakeholders described last Saturday’s poll as a “major test of INEC, Police ahead of 2027” while Adeleke’s campaign council petitioned the Inspector-General of

Adeleke

Police, Olatunji Disu and British High Commission raising concerns over security challenges.

Adeleke had in the course of his campaign endorsed President Bola Tinubu’s 2027 re-election bid saying “our own son, father and leader” and “Osun, as ancestral home of the president, has responsibility to support him in the best interest of the South West”.

The Osun Governor also upon being declared re-elected by INEC on Sunday morning told newsmen that the President had called him on phone to congratulate him. Tinubu further corroborated governor’s assertion as he stated that much in a congratulatory message issued later on Sunday.

The President said: “I called Governor Ademola Adeleke earlier today to congratulate him on his election victory in Osun State. His victory once again confirmed the confidence the people of Osun State have in him.

“I wish him great success as he prepares to lead the state for the next four years. Now that he has won, Governor Adeleke must unite the people of Osun State and rally them for growth, stability, and social and economic progress, regardless of the political choices they made at the election.

“I salute the courage and discipline displayed by other contestants in the election. Their participation deepened and enriched our country’s democratic culture. The outcome of the election reflects the will of the people and is a

Governor Adeleke of Accord party backing President Tinubu of APC’s re-election in January, 2027, will create cross-party alignment in South-West. This definitely will neutralize state-level opposition and is an indication that five out of the six South West governors will rally behind Tinubu.

fitting assurance that democracy will continue to flourish in our land.”

Governor Adeleke of Accord party backing President Tinubu of APC’S reelection in January, 2027, will create cross-party alignment in South-West.

This definitely will neutralize state-level opposition and is an indication that five out of the six South West governors will rally behind Tinubu. It also gives Tinubu a foothold in Osun’s grassroots structure ahead of 2027.

With Adeleke securing a second term in office, much is expected of him based on his campaign promises, track record, and current needs of the State of the Living Spring. He’s expected to consolidate on his 5-Point Agenda Reloaded namely Infrastructure, Agro-industrialisation and Rural Development, Health and Education, Workers, Youth and Women’s Welfare, Governance and Security.

Stakeholders will also expect Adeleke to deliver political stability by healing party divisions by making Accord a viable state party and prevent more defections.

There is also the urgent need for him to resolve the lingering crisis over control of Local Government Areas that’s been a flashpoint with federal authorities as well as keeping Osun people at the centre of programmes and policies and engage all stakeholders.

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T H I S D AY • Monday, August 17, 2026

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

A u g u st

S & P INDEX

1 4 , 2 0 2 6

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,381/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT Fri., August 14, 2026

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

OMO Policy: Market Value of Blue-chip Firms Plumet by N3.7trn

Kayode Tokede The market value of BUA Foos Plc, MTN Nigeria Communications Plc and 11 other blue-chip firms on the Nigerian Exchange Limited (NGX) decreased

by N3.7 trillion last week, the worst performances in recentl history.

On the back of the decline, the market capitalisation of the NGX to dropped by 1.19 per cent in its Weekon-Week (WoW) performance to N156.624 trillion from N158.513 trillion it opened

for trading.

Also, the NGX All-Share Index, which mirrors the direction of the market declined by 1.2 per cent or 2,954.40 basis points WoW to close at 242,619.20 basis points.

Capital market analysts attributed the decline to new the policy of the Central Bank of Nigeria (CBN) that allow individuals to trade in Open Market Operations (OMO) and the anticipated revised NGX pricing methodology, which takes effect today.

With OMO bills now accessible to individuals and other eligible investors through banks, rather than restricted solely to institutional Money Market Dealers, investors have moved their investment where it has a very low risk, high, guaranteed returns.

In the week under review, BUA Foods Plc, followed by MTN Nigeria Communications Plc and HBM Nigeria Plc saw the highest decline in share price.

For instance, the 11.1 per cent or N84.50 per share WoW

drop in BUA Foods Plc led to N1.52 trillion in market value of the agro-allied company.

The price of MTN Nigeria Communications stock on NGX declined by 4.97 per cent or N40.00 per share WoW, the market value dipped by N839.8 billion, while market value of HBM Nigeria depreciated by 7.8 per cent or N26.00 WoW. Similarly, First Holdco Plc’s market value dropped by N245.6 billion as its stock price declined by 3.9 per cent or N5.40 per share to close at N140 per share. Unilever

Nigeria Plc also dropped by N158.56 billion in market value following a 23.4 per cent or N27.6 per share drop in stock price.

Meanwhile, the CBN held an OMO auction last week, attracting N4.93 trillion in total subscriptions against a combined N600 billion on offer, split evenly between 103-day and 138-day bills.

However, the apex bank allotted N2.60 trillion, over four times its offer across the two tenors, even after weeks of aggressive mop-up activity followed by massive

liquidity injection.

This voracious appetite has become the norm for OMO auctions throughout 2026—very big demand, bigger allotments, and no sign of slowing down.

The scale of demand at this auction, nearly N4.93 trillion in aggregate bids for just N600 billion on offer, reflects the sustained pull of OMO yields relative to other fixed-income instruments.

The story continues online on www.thisdaylive.com

PwC Flags Legal Gaps, Enforcement Challenges in Nigeria’s New Virtual Asset Tax Rules Sunday Ehigiator

PwC Nigeria has warned of the legal uncertainties, enforcement gaps and a potentially heavy compliance burden for Virtual Asset Service Providers (VASPs) in the new tax framework for virtual assets.

In its August 2026 tax alert titled, ‘Taxing the intangible: A critical analysis of the NRS guidelines on taxation of virtual assets,” PwC said

the guidelines represent Nigeria’s first comprehensive administrative framework for taxing virtual assets, but cautioned that several provisions raise important legal and practical questions.

The Nigeria Revenue Service (NRS), formerly the Federal Inland Revenue Service, published Information Circular No. 2026/21, “Guidelines on the Taxation of Virtual Assets,” on July 31, 2026, as Nigeria increasingly

moves from restricting digital assets towards formalising the sector.

However, PwC noted that the guideline, “Does not include any effective date even though it introduces some new obligations that are not in the Nigeria Tax Act (NTA) or Nigeria Tax Administration Act (NTAA).”

The report said a single virtual asset transaction could generate multiple tax liabilities depending on the applicable

taxable event. Income tax applies to individuals at progressive rates and to companies, other than small companies, at 30 per cent on gains from disposal.

“It also applies to income and gifts received in virtual assets, including employment income, professional fees, mining rewards, staking rewards, DeFi rewards and airdrops,” it said.

The guidelines additionally introduce a 1 per cent

withholding tax on gross disposal proceeds for cryptocurrencies, security and investment tokens and NFTs, with VASPs responsible for collection. Passive income from staking, mining, airdrops and DeFi yield attracts 10 per cent WHT, while professional fees attract WHT at five or 10 per cent, as applicable.

VAT is imposed at 7.5 per cent on taxable supplies connected with virtual asset transactions, including

exchange fees, brokerage commissions, custody fees and advisory services.

The transfer of ownership of a virtual asset itself, however, does not constitute a taxable supply. Where virtual assets are used to pay for taxable goods or services, VAT applies to the underlying supply as if payment had been made in fiat.

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at F r i d ay, A u g u s t 1 4 , 2 0 2 6 BONDS Description Price Yield Change Updated Time (%) ^13.98 23August 96.03 17.03 0.00 14, 2026 FEB-2028 August ^21.00 200.00 14, 105.29 17.04 2026 MAR-2028 ^19.30 17August 104.70 17.00 0.00 14, APR-2029 2026 ^14.55 26August 94.79 17.00 0.00 APR-2029 14, 2026 ^18.50 21August 103.43 17.37 -0.05 14, FEB-2031 2026

BILLS Maturity NTB 3-Sept26 NTB 8-Oct26 NTB 5-Nov26 NTB 3-Dec26 NTB 7-Jan27

Discount Yield

Change (%) Updated Time

Maturity

15.78

15.92

August 0.00 14, 2026

15.70

16.08

August -0.01 14, 2026

16.60

17.25

August -0.07 14, 2026

16.77

17.67

August 0.00 14, 2026

18.77

August -0.01 14, 2026

HAAI CP X 7-SEP-26 PCLL CP V 25-SEP-26 AGRO CP IV 7-DEC-26 DAIL CP II 26-NOV-26 JVIL CP XXIV 29-DEC-26

17.46

CLEARED NAIRA-SETTLED NDFS

CPs Discount Yield 22.41

22.72

22.16

22.53

21.68

22.63

20.08

20.73

21.40

22.48

Change (%)

Updated Time

August 0.01 14, 2026 August 0.04 14, 2026 August -0.36 14, 2026 August -0.27 14, 2026 August -0.54 14, 2026

Contract Tenor Contract (Month)

Current Rate ($/₦)

Updated Time

–

–

–

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–

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28

Monday, August 17, 2026 • T H I S D AY

BUSINESSWORLD

News

L-R: Head, Talent Management, Polaris Bank, Cynthia Sanyaolu; Group Head, Customer Experience & Value Management, Bukola Oluyadi; Ag. Chief Talent & Culture Officer, Olanrewaju Oyekunle; Head, Brand Management & Corporate Communications, Rasheed Bolarinwa; Executive Director, Corporate & Investment Banking, Abimbola Ozomah; Head, Retail Banking, Njideka Nwabueze, and Leaning & Development Officer, Olamide Adeyeye at the “Bring Your Child to Work” event in Lagos… recently.

Geregu: Concern Mounts over Utilisation of N40bn Bond Issued Under Previous Management Oluchi Chibuzor

The recent corporate debt default by Geregu Power Plc has raised concerns as to how the proceeds of the N40 billion series 1 senior unsecured bond was used.

The bond, issued on July 28, 2022, has a seven-year tenor and is scheduled to mature on July 28, 2029, according to details published by the

FMDQ. At the time, the ownership structure of the company indicated that Amperion Power Distribution Company Limited directly held 2,489,995,020 shares, controlling 99.99 percent of the organisation.

The former chairman of the company had a direct shareholding of 1,245 units (0.0001 per cent), as well as

Olawunmi Christine Otedola, Akin Akinfemiwa, the firm’s Chief Executive Officer (CEO), and Calvados Global Services Limited.

However, former chairman’s indirect shareholding stood at 2489,995,020 shares, giving him 99.59 per cent control in the power generation company, according to listing records.

The N40 billion series one bond was issued

under Geregu’s N100 billion multi-instrument issuance programme of which the proceeds was expected to be, “Applied by the issuer for its general corporate purposes including expansion of the company’s current power generation capacity and the strategic acquisition of power assets in Nigeria and other African countries.”

In its 2022 financial statement, Geregu said the net

proceeds from the N40 billion corporate bond would be used to finance the acquisition of one of the power generation companies “which is currently in the final stage of bidding processes by the Bureau of Public Enterprises (BPE).”

A review of its 2023 financial records showed that the organisation made a contractual commitment of “$4,000,000.00 Bid Bond for acquisition of Geregu II in

favour of Bureau of Public Enterprises with validity period of May 23, 2024”.

But sources in the company said the acquisition objective was not achieved, raising questions on the deployment of 2022 bond proceeds.

Geregu insiders are also worried that the some of the bond proceeds may have been diverted to other purposes or misappropriated by the previous management.

Emma Okonji

revealed a critical challenge where organisations are struggling to deliver measurable sustainability outcomes.

The report, themed: ‘Executing Sustainability Strategy: When Ambition Meets Reality’, surveyed nearly 1,600 professionals across 35 countries and found a significant disconnect between strategic

confidence and execution readiness.

According to the report, while 85 per cent of sustainability executives believe their organisations will achieve their sustainability goals, only 43 per cent of Project Management Office (PMO) leaders share that confidence, adding that among project professionals responsible for

implementation, just 20 per cent are extremely confident in their organisation’s ability to deliver.

The study also found that although 79 per cent of respondents believed sustainability remained important to long-term success, only 41 per cent said it had been fully integrated into projects and daily operations.

N S I B L a m e n t s Report Reveals Widen Gap Between Sustainability Ambition and Delivery Planned Reduction of 5% TSC Share

As organisations across Africa and the rest of the of investigations across world seek to translate Sumaina Kasim Sumaina Nigeria’s aviation, rail and sustainability ambitions in Abuja maritime sectors. into business outcomes, He asserted that the new research from Project The Director Genera, responsibilities Management Nigerian Safety Investigation NSIB’s Institute Bureau (NSIB), Captain Alex have expanded significantly (PMI) and Green Project Badeh Jr., has warned that beyond aviation accident Management, a global requiring organisation advancing the proposed reduction of investigation, its share from the 5% Ticket increased funding, specialised sustainable practices, has technical Sales Charge (TSC) from equipment, 6% to 4% would affect the expertise and deployment agency’s ability to effectively of investigators across the discharge its expanding country.

Oluchi Chibuzor He opined that the transport safety investigation proposed adjustment in the FATE Foundation, in mandate.

Badeh made the disclosure funding arrangement was collaboration with the African during a media chat with therefore a matter of concern, Institute for Mathematical journalists in Abuja, stressing given the Bureau’s expanding Sciences (AIMS), is set that the Bureau is currently statutory responsibilities. to empower educators, According to him, “The Nigerian youths, across handling a growing volume investigations cover some 10 Universities through a of the country’s recent Google.org $1.1m Africa significant transport AI Upskilling Programme. incidents, including the The multi-country Arik Air B737-700 engine initiative according to the anomaly; Rigasa-Idu FATE is aimed at building passenger train incident. MV Group Business Editor Maersk Valparaiso/MT Lady Eromosele Abiodun Martina collision; WarriDeputy Business Editor Itakpe train derailment; Chinedu Eze VMO Aero roadway landing Chinedu Eze Comms/e-Business Editor near Asaba; Benue River Emma Okonji boat accident; and the A passenger, Dr. Everest Asst. Editor, Energy Enugu Air E170 runway Okpara, has commended Emmanuel Addeh a cabin crew with United excursion at Benin.”

He stated that the Nigeria Airlines, Miss Asst. Editor, Money Market Francisca Bureau’s investigations Uchechukwu Nume Ekeghe Ogbuagu, for her calmness are aimed at independently Correspondents establishing what happened, when she was apparently KayodeTokede(CapitalMarkets) identifying contributing provoked by a passenger James Emejo (Finance) factors and developing in a rude, annoying manner.

Ebere Nwoji (Insurance) Okpara said Miss Ogbuagu safety recommendations exceptional Reporter capable of preventing similar exhibited Peter Uzoho (Energy) professionalism, composure occurrences.

FATE Foundation, AIMS to Implement $1.1M Google.org AI Upskilling Programme a sustainable and scalable ecosystem for advanced AI education in Nigeria, Ghana, Kenya, and South Africa.

Speaking at the launch of the programme in Nigeria, recently at University of Lagos, Executive Director, FATE Foundation, Ayomide Akindolie-Igwe, said as part of the programme lecturers and teaching assistants and penultimate and final-year

STEM students are expected to benefit.

According to her, “The coming months, we will work closely with our partner Higher Educational Institutions’ (HEIs) to deepen AI knowledge, strengthen institutional capacity, and equip educators with practical skills for lasting impact. Our goal is to train more than 30,000 students in advanced AI

and ultimately embed the advanced AI curriculum into the mainstream programmes of our partner HEIs, ensuring that it or an updated version continues to be taught to STEM students across Africa long after this cohort.”

On her side, the Subsaharan Africa Program Manager, Google.org, Matita Arize, said that their focus on AI upscaling is centred around equality globally.

United Nigeria Cabin Crew Commended for Professionalism and schooled restraint during a recent flight.

“During the flight, I witnessed Miss Ogbuagu manage a particularly difficult interaction with a passenger who was extremely rude and unruly towards her.

Despite the challenging nature of the encounter, which had to do with adherence to aviation rules, she remained remarkably calm and composed throughout.

She maintained a respectful tone, exercised considerable restraint, and responded with a professionalism and courtesy that impressed the few passengers seated nearby, even in circumstances that could easily have provoked a less measured reaction,” Okpara said.

He observed that what particularly stood out for Miss Ogbuagu was her ability to remain focused

on her responsibility to the passenger and to the airline’s policy, without allowing the passenger’s conduct to compromise the quality of her service.

He said her communication was measured, her demeanour remained courteous, and her overall handling of the situation demonstrated an impressive level of emotional intelligence, self-control, and maturity.

29

T H I S D AY • Monday, August 17, 2026

BUSINESSWORLD

PERSPECTIVE

How to Build $3tn W’African Energy Market

Suleiman Yahyah

region — connecting producers, refineries, storage facilities, power markets, industrial centres, ports and consumers. This is not theoretical. It reflects existing trade flows, infrastructure corridors, population centres and emerging refining and power assets. The Abidjan–Lagos corridor alone provides a natural backbone for deeper integration across some of the region’s most economically significant markets. Our task is to convert geography into a functioning market system. That means making it easier for energy to cross borders, easier for capital to follow energy, easier for businesses to operate across jurisdictions, and easier for consumers and industries to access reliable and competitively priced energy. The objective is not to eliminate national energy systems; it is to make them interoperable.

W

est Africa is no longer in a phase of energy potential. We are in a phase of energy system construction. For decades, the conversation about West Africa’s energy future has centred on what the region possesses: oil and gas reserves, significant renewable energy potential, growing electricity demand, a young and rapidly urbanising population, and strategic access to international markets. But resources alone do not create prosperity. The question before us now is whether West Africa can build the market architecture capable of converting those resources into sustained economic value, deeper regional trade, greater investment and, most importantly, better lives for our people. And I want to suggest a clear answer: We can — but only if we think in systems, not projects. Individual refineries matter.

Pipelines matter. Power plants matter. Transmission lines matter. Storage facilities matter. But their true economic value emerges when they become components of an integrated market. That is the opportunity before us. $3 TRILLION MARKET OPPORTUNITY I propose a simple but ambitious framing: By 2035, West Africa should aim to generate at least $3 trillion in cumulative energy market transaction value. Not as a fundraising target.

Not as a valuation exercise. But as a measure of market depth, liquidity, integration and economic activity. A large energy market is not defined merely by the amount of oil, gas or electricity it produces. It is defined by how efficiently energy can move from where it is produced to where it is needed; how easily buyers and sellers can transact; how reliably infrastructure can be accessed; how effectively capital can be mobilised; and how confidently investors can operate across borders.

Today, we can already see the imbalance.

Regional refined-product demand has grown from approximately 370,000 barrels per day in 2000 to nearly one million barrels per day today.

Yet only a handful of countries have meaningful refining capacity. Similarly, only a relatively small proportion of electricity is traded across borders despite thousands of kilometres of interconnection

infrastructure and the existence of regional power-market institutions. Put together, these realities tell one story: The physical system is ahead of the commercial system.

We have infrastructure corridors, but insufficiently integrated markets. We have energy resources, but fragmented systems for monetising them. We have demand, but not enough mechanisms for efficiently matching supply with that demand across borders. That is the gap we must close. And closing it could unlock an entirely different economic trajectory for West Africa.

MARKET ARCHITECTURE We should stop thinking of West Africa as a collection of fragmented national energy systems. We should begin thinking of it as a single integrated energy market with distributed infrastructure.

I propose a Hub–Node–Spoke model.

Lagos can serve as an Atlantic liquidity and refining hub. Abidjan can function as a western commercial and logistics hub. Ghana can provide an important central balancing and storage node. Senegal can serve as a north-western gateway node. From these anchors, we build spokes into the wider

REGULATORY INTEGRATION No market of this scale can function effectively with fragmented regulation. But harmonisation does not mean uniformity; it means interoperability.

I therefore propose a WARF Regulatory Passport System. Under such a framework, if a company, trader or infrastructure operator is licensed and compliant in one WARF jurisdiction, that certification should be progressively recognised across participating jurisdictions, subject to agreed standards and safeguards.

This would be supporteda by common product specifications, shared data standards, model energy contracts, transparent infrastructure-access rules and a regional disputeresolution framework. The principle is simple: Regulate nationally. Transact regionally. This approach would reduce duplication, shorten transaction times, improve regulatory certainty and lower the cost of doing business across borders. It would also send an important signal to international investors.

A fragmented regulatory environment increases risk. An interoperable regulatory environment creates scale. And scale is precisely what West Africa needs if it is to compete successfully for global energy capital.

The story continues online on www.thisdaylive.com

Mastercard,TeamAptSettoExpandDigital Payments across Africa Emma Okonji Mastercard and TeamApt Limited, a subsidiary of Moniepoint, have entered a strategic collaboration to strengthen digital payment capabilities for businesses and financial institutions across Africa.

As part of this collaboration, TeamApt will operate directly on Mastercard’s global payments network as a non-bank acquirer, enhancing its ability to onboard credible and licensed entities to deliver seamless payment acceptance, transaction processing and acquiring services.

Speaking about the collaboration, Country Manager, West Africa at Mastercard, Folasade Femi-Lawal, said: “Expanding digital payment acceptance is one of the fastest ways to support small businesses across Africa to compete, grow, and reach more customers. By working with TeamApt, we are equipping MSMEs and informal sector businesses in Nigeria with robust, secure infrastructure to seamlessly process transactions across multiple channels. The collaboration brings more businesses into the digital

GETGP5thEditiontoEmpower SMEswithN13MGrant Oluchi Chibuzor

The Centre for Research In Enterprise and Action in Management (CREM) has announced call for application for its 5th Edition of Grooming Endowment Trust Grant Program (GETGP) that will see 15 small and medium sized enterprises receive N13million in grant as beneficiaries.

Speaking at the formal launch of call , in Lagos, Project Manager , GET Compass, Kenechukwu Ohaeri, said that initiative is focuses on empowering start-ups (MSMEs) in Nigeria.

He noted that applicant must show current operations of the business, consistency in business reporting which include daily sales report, records of monthly

sales, and monthly P & L. According to him, “The primary objective of the grant programme is to provide financial assistance and relevant skills to business owners to scale up and navigate through the business environment.

“Applicants must be at least 18 years old.The business must be a maximum of three years in operation.The business founder must be available to attend a two-week workshop in Lagos. The business must be duly registered with the corporate affairs commission (CAC) and must be viable across sectors like health, education, humanitarian works, enterprise and community development, social entrepreneurship.”

economy, unlocking vital new opportunities for growth, credit access, and cross-border trade.”

Chief Executive Officer, TeamApt, Dennis Ajalie, said: “This collaboration with Mastercard represents an important step forward in our

commitment to removing barriers within the payments ecosystem.

For years, TeamApt has focused on building infrastructure that helps financial institutions and businesses grow with confidence.

By working closely with Mastercard, we are extending

those capabilities, enabling businesses to accept payments more seamlessly and giving users the freedom to transact securely both locally and internationally.”

The collaboration also delivers international value, enabling Mastercard cards supported by

TeamApt’s infrastructure to be used across millions of merchant locations worldwide. Customers gain the convenience of secure global payments, while merchants can more easily serve both local and international customers, “Ajalie further said.

GoogleReaffirmsPartnershipwithMTNtoSupportMediaSustainability

Emma Okonji

Google has reaffirmed its commitment to supporting journalism and helping build a more sustainable future for news organisations in Nigeria and across Africa through its continued partnership with the MTN Media Innovation Programme (MIP).

For nearly two decades, Google has worked with

journalists, publishers and industry partners to support the future of news through its products, partnerships and programmes.

Strategic Partner Manager at Google, Onyinyechi “Nini” Eze, said the company would continue to play an active role in supporting journalism globally by promoting access to credible information, building trust in news, and

helping media organisations adapt to changing audience behaviours.

“Quality journalism is essential to informed societies, and supporting the longterm sustainability of news organisations remains an important part of Google’s mission,” she said.

According to her, “Through our products, partnerships and programmes, we’re

helping journalists build digital skills, better understand their audiences and explore new ways to grow sustainably. Our partnership with the MTN Media Innovation Programme reflects that ongoing commitment to equipping media professionals with the tools they need to thrive in a rapidly evolving digital environment.”

FUTO, ABU Win Enactus Nigeria National Finals Oluchi Chibuzor

The Federal University of Technology, Owerri (FUTO) and Ahmadu Bello University, Zaria (ABU) have emerged champions of the 2026 Enactus Nigeria National Competition and will represent Nigeria at the Enactus World Cup in Brazil later this year.

FUTO recorded a double

victory, winning the Enactus Early Stage Final with its biofuel project and the Julius Berger Innovation Challenge with ALTAR, a robot designed to detect structural and construction failures.

ABU clinched the Enactus Advanced Stage Competition Final with NeemPest, an IAR-certified multi-modal biopesticide that eliminates Tuta absoluta within 48

hours, and TomPa, a tomato processing brand designed to convert surplus tomato harvests into long-lasting powder and puree.

Speaking at the event held in Lagos recently, Country Director of Enactus Nigeria, Michael Ajayi, said the projects showcased at the final represented far more than an academic exercise According to him, “They

reflect the ingenuity, resilience and determination of a generation committed to building a better Nigeria.

Enactus would continue to make a significant difference by nurturing entrepreneurs, innovators, ethical leaders and changemakers who understand that education finds its purpose when it is applied to solving real societal problems.”

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MONday AUGUST 17, 2026 • T H I S D AY

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WEDNESDAY, 11, 2026 • T H17, I S2026 D AY T H I S D AY •MARCH MONDAy, AUGUST

business/MOnEYGUIDE

TAJBank’s Profit Before Tax Surges By 74%, Pays Higher Dividends Kayode Tokede

TAJBank Limited, has said that it sustained its frontline position in the nation’s ethical banking space with its Profit Before Tax (PBT) surging year-on-year by74 per cent to N31.562 billion in FY2025, from N18.166 billion recorded in FY2024.

The latest data from the bank’s audited 2025 financial statements reflected that its total assets grew to N1.34 trillion from N953 billion in the preceding year, while the non-interest lender’s total equity grew to N149.230 billion, reflecting 144% growth over the N61.250 billion recorded in the preceding year among other positive Key Performance Indicators (KPIs) of its operations during the year.

To reward the shareholders for their commitment to the sustainable growth of the bank as Nigeria’s largest ethical bank by

assets, the Board at the bank’s just concluded virtual 2026 Annual General Meeting (AGM) approved 20 kobo dividend per share for the investors, one of the highest dividends per share ratio in the nation’s banking industry.

Commenting on the Board’s decision on the dividend payment during a brief chat with journalists on decisions taken during the AGM, the Board Chairman, Alhaji Tanko Gwamna, said: “The Board rewarded the shareholders for their contributions to the growth of TAJBank as we have been doing over the years.”

In his remarks, the bank’s Managing Director/CEO, Mr. Hamid Joda, described the improving financial performance of TAJBank “as a clear demonstration of the management’s adoption of prudential financial approach in our operations and this is

already helping to grow investor confidence in the bank.

He said, “I am using this opportunity to thank the shareholders and to assure them that come rain or shine, their funds are secured and will continue to yield sustainable good returns to them on a yearly basis.”

Also, the bank’s Executive Director, Mr. Sheriff Idi, enthused: “We greatly value our shareholders and customers because their interest is why we are in business and we will always prioritize them in our operations.”

After five years of operations in Nigeria’s rapidly evolving noninterest banking (NIB) space, TAJBank Limited was recently rated by the regulatory authorities as the biggest player in the NIB subsector based on its approved financial statements for the half year 2025, in terms of total assets and gross earnings values.

FCMB Raises FastCash Instant Loan Limit to N500,000 In a statement, the term needs through First City Monument Bank (FCMB), has increased the limit on its FastCash instant loan to N500,000, giving eligible customers greater access to funds for unexpected expenses and other short-term financial needs.

Available 24/7 through the FCMB Mobile App, FastCash provides eligible customers with quick access to credit without collateral, paperwork or a guarantor. Customers can apply digitally without visiting a branch.

Divisional Head, Personal Banking, FCMB, Tunji Lamidi, said the increased limit responds to customers’ need for convenient access to short-term financing.

He said, “Financial needs can arise without warning, and customers increasingly expect their bank to respond just as quickly. By increasing the FastCash limit to N500,000, we are giving eligible customers more room to meet short-

channels they already use, without paperwork or a branch visit.”

Customers who have not fully utilised their maximum eligible loan amount can also apply for a FastCash top-up, subject to eligibility.

The FastCash upgrade forms part of FCMB’s drive to make everyday banking and credit easier to access digitally, giving customers greater flexibility to manage their finances through the FCMB Mobile App and USSD banking platform.

Aspira Hosts Lifestyle Brunch to Promote Better Fabric Care Aspira Nigeria Limited, makers of Viva Detergent and other household cleaning products, has hosted the maiden edition of the Lifestyle Mini Brunch series.

This maiden edition was themed “Come Wash with Hilda”, an experiential mini brunch designed to promote better laundry practices, deepen consumer education and showcase the performance of the Viva detergent range.

Held in Lagos, the brunch brought together select lifestyle influencers, digital content creators, social media followers and The Clean Collective community members for

an engaging session with Viva brand ambassador, Hilda Baci.

The event featured a fabric care masterclass, product education, live laundry demonstrations and interactive conversations with Hilda, providing participants with practical insights into effective laundry practices and ways to preserve the quality and longevity of their garments.

Speaking during the event,Head of Marketing at Aspira Nigeria Limited, Barbara Onianwah said the initiative reflects the company’s commitment to delivering value beyond its products by helping

consumers make better fabric care choices.

“At Aspira Nigeria Limited, we believe laundry is more than just getting clothes clean; It’s about helping people take better care of the things that matter to them. Every garment has a story, and with the right fabric care habits and quality detergents, those clothes can look better and last longer. That’s why we’re creating experiences like ‘Come Wash with Hilda’, to share practical knowledge, answer everyday questions and help consumers get the very best from every wash.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- CBN Bills Held by Money Holding Sectors

9,291.49

Money Supply (M2)

119,028,285.58

Quasi Money

79,681,419.97

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27%

OPEC DAILY BASKET PRICE As At 24TH NOVEMBER , 2025

The price of OPEC basket of twelve crudes stood at $63.14 a barrel on Monday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

33

T H I S D AY • MONDAy, AUGUST 17, 2026

mARKET NEWS

Legend Internet Declares N416.15M Loss in Nine Months

Kayode Tokede

Legend Internet Plc has declared N416.15 million loss for the nine months ended April 30, 2026 as against N221.1 million profit after tax declared in nine months ended April 30, 2025.

The Nigerian internet service provider declared a drop in revenue and significant increase in administrative

expenses that led to loss in the period under review.

The company revenue closed nine months of 2026 at N817.07 million, about 15.09 per cent drop from N962.23 million in nine months of 2025, while administrative expenses moved from N364.13million in nine months of 2025, about 142.1 per cent increase over N881.4million reported in nine months of 2026.

However, gross profit remained substantial at N531.1

P R I C E S MaiN Board

million in nine months of 2026, a drop of nearly 18 per cent from N645.1million in nine months of 2025.

The financial statements show that Legend Internet paid N1.3 billion for the acquisition of a subsidiary and placed N5.52 billion in escrow, while securing N6.88 billion in loan financing during the period.

These transactions point to a significant expansion strategy, although the increased financing obligations have also

F O R

S E C U R I T I E S

DEALS

Market Price

quantity traded

contributed to higher finance costs, which rose to N65.9 million from N5.8 million.

The company also retains a significant infrastructure base, with property, plant and equipment valued at approximately N2.54 billion as of April 30, 2026, largely comprising fibre infrastructure.

This infrastructure provides a platform for expanding its customer base, increasing service capacity and potentially achieving greater economies

T R A D E D

value traded ( N )

MaiN Board

A S

O F

of scale as the business grows.

Net cash used in operating activities stood at N217.1 million, while cash and cash equivalents closed at only N33.2 million. Total equity, nevertheless, remained substantial at N2.44 billion, despite the comprehensive loss recorded during the period.

Chief Executive Officer, Legend Internet, said Aisha Abdulaziz in a statement said, “Legend

AU G U ST DEALS

Internet has the potential to translate its expansion investments into stronger financial performance.

Our robust gross margin, substantial infrastructure base and ongoing expansion programme provide a solid foundation for recovery.

“We shall utilise the capital deployed to drive the scale, revenue growth and profitability needed to support our ongoing sustainable turnaround.”

1 4 / 2 6 Market Price

quantity traded

value traded ( N)

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T H I S D AY • Monday, August 17, 2026

BusinessSpecial The Quiet Reinvention of the Federal Housing Authority

Editor: Goddy Egene goddy.egene@thisdaylive.com 0803 350 6821

Raheem Akingbolu writes that the strides of the Managing Director and Chief Executive Officer of the Federal Housing Authority, Oyetunde Oladimeji Ojo, suggest that Nigeria’s perennial housing deficit may finally get solutions

T

here are few aspirations more deeply rooted in the Nigerian psyche than the dream of owning a home. It is more than a roof over one’s head; it is a symbol of dignity, security, achievement and the quiet assurance that years of honest labour will culminate in a place to call one’s own. Yet, for millions, that dream remains deferred.

The numbers tell a sobering story. Nigeria’s housing deficit has for years ranked among the largest in the world. Estimates by the Federal Ministry of Housing and Urban Development and the World Bank place the shortfall at well over 20 million units.

Some assessments suggest even higher figures when population growth and rapid urbanisation are considered. The gap continues to widen each year.

The challenge has become even more pressing as Nigeria’s population, now estimated at more than 230 million, continues to expand.

United Nations estimates indicate that well over half of Nigerians now live in urban areas, intensifying demand for affordable housing while placing increasing pressure on land, infrastructure and public services.

Housing experts argue that the crisis extends beyond bricks and mortar.

Escalating land costs, inadequate mortgage financing, high construction expenses, weak urban planning, cumbersome regulation and inconsistent policy implementation have combined to frustrate successive administrations. The result is a widening gulf between demand and supply, particularly for low- and middle-income earners. As the proverb says, “A house built on sand cannot endure.”

The financing landscape presents an equally formidable challenge. Industry estimates indicate that mortgage lending accounts for less than one per cent of Nigeria’s Gross Domestic Product, among the lowest ratios globally. Limited access to long-term housing finance has left millions of aspiring homeowners dependent on personal savings, cooperative schemes or informal funding arrangements.

Successive governments recognised the urgency. National housing policies were formulated, ambitious programmes launched, estates commissioned with optimism and fanfare. Yet implementation often struggled to match ambition. Projects stalled, funding proved inadequate, bureaucracy slowed delivery, while public confidence in government housing schemes diminished. Over time, the Federal Housing Authority(FHA) itself came to reflect the systemic constraints confronting the sector.

By the time Hon. Oyetunde Oladimeji Ojo assumed office as Managing Director and Chief Executive Officer of the FHA in February 2024, he inherited not merely an agency requiring administrative attention, but an institution whose relevance and public perception demanded renewal. His assignment extended beyond constructing estates. It required rebuilding confidence, modernising systems and restoring the Authority to its statutory role.

Ojo has never pretended the task would be straightforward. Reflecting on the state of the institution he inherited, he observed during an interview on ARISE News: “The Federal Housing Authority, as far back as 2014, was already commercialised. That’s the

O jo reality. Now, we’ve come with new life.

We are trying to build houses all over the country.” His candour set the tone.

The true measure of leadership is often revealed in the choices made at the very beginning. Some leaders preserve inherited routines; others question old assumptions.

Ojo embraced the latter path. Rather than settling into the comfort of his Abuja office, he embarked on a diagnostic tour.

His conviction was that housing policy could not be driven from the capital alone. ”We don’t sit in Abuja and plan things,” he remarked. “When I assumed office, I moved round the states because land belongs to the governors,” he said. It was a deceptively simple statement, yet it reflected a significant departure from the centralised approach that has long characterised public administration. For Ojo, lasting housing solutions required partnership, not bureaucracy.

Those engagements soon evolved into a deliberate strategy. By taking discussions directly to state governments, the FHA sought to negotiate access to suitable land while encouraging governors to become active partners in the Renewed Hope Housing Programme. In several instances, states agreed not only to provide land but also to assume responsibility for compensation. The arrangement reduced costs and accelerated delivery.

The significance of this strategy extends beyond lowering project costs. Across the world, land remains one of the single largest cost components in housing development. When governments reduce that burden through thoughtful partnerships, affordable housing becomes more viable and inclusive. By approaching

governors as collaborators rather than mere stakeholders, Ojo turned obstacles into instruments of progress. As elders say, “One tree does not make a forest.”

Yet securing land represented only one part of a broader rethink. Equally pressing was the need to restore confidence in an Authority whose internal systems had become outdated. For decades, property administration relied heavily on manual records, an arrangement that left room for missing files, multiple allocations and document manipulation. Such weaknesses undermined efficiency and eroded public trust.

One of Ojo’s earliest reforms was to drive comprehensive digitisation of the FHA’s operations. What appeared on the surface to be a technological upgrade was, in reality, a governance reform. Property records were migrated to digital platforms, processes streamlined and connectivity strengthened across zonal offices. The objective was not simply to replace paper with computers, but to embed transparency into daily practice.

The implications of that transition are considerable. Digital records reduce opportunities for fraud, strengthen accountability, improve institutional memory and accelerate service delivery. For prospective homeowners, they promise a more predictable and transparent process, where documentation is less vulnerable to manipulation or loss. In an era where trust in public institutions is shaped by efficiency, technology has become a currency of credibility.

Institutional reform, however, is rarely sustained by technology alone. Recognising this, the FHA simultaneously embarked

on measures to strengthen financial discipline.

Nationwide property verification exercises were undertaken, development control mechanisms reinforced and revenue collection systems reviewed. These initiatives reflected a broader philosophy: institutions entrusted with national development must first demonstrate prudent stewardship of resources.

In many respects, these reforms reveal an understanding that housing is not simply about erecting buildings. It is about creating institutions capable of planning effectively, managing resources responsibly and delivering services consistently. Concrete may build houses, but it is sound governance that builds enduring confidence. As the Yoruba proverb reminds us, “A house built with wisdom will not collapse.”

The results are increasingly visible. Under the Renewed Hope Housing Programme, abandoned projects have been revived and new estates inaugurated. In Abuja, 480 housing units are underway; in Kano, nearly 1,000 units are being developed, while Festac Town in Lagos is being redeveloped in partnership with the Lagos State Government. Together, these projects reflect a renewed commitment to expanding affordable housing and restoring confidence in public sector delivery.

Workforce renewal has also been prioritised.

More than 250 young professionals have been recruited, staff training expanded, and digital connectivity introduced across zonal offices.

These measures aim to strengthen institutional capacity and ensure continuity through a new generation of housing administrators.

Affordability remains central. Ojo has engaged manufacturers including Dangote Cement and BUA Cement to moderate construction costs while profiling applicants to align housing allocation with mortgage capacity. ”Affordable housing should be measured not by policy declarations but by visible construction activity,” he insists. His words echo the wisdom that “A promise is a cloud; fulfilment is rain.” For Ojo, the measure of success lies not in announcements but in completed homes, revived estates and restored confidence in government housing programmes.

Beyond the numbers, the human impact of these reforms is beginning to show. Families who once doubted government housing schemes are now moving into revived estates.

Young professionals, previously resigned to a lifetime of renting, are applying through transparent channels. For them, the FHA’s transformation is not an abstract policy shift but a doorway to dignity and stability.

Equally significant is the ripple effect on communities. Construction projects generate jobs, stimulate local economies and create new urban spaces. Roads are being opened, utilities extended and neighbourhoods revitalised. In places where abandoned estates once stood as monuments to failure, cranes and workers now signal renewal. As the saying goes, “When the house rises, the town prospers.”

Perhaps most importantly, the reforms are restoring trust in public institutions. Nigerians have grown weary of promises unfulfilled.

By delivering visible results, the FHA under Ojo is beginning to change perceptions.

The story continues online on www.thisdaylive.com

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FEatures

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com,

From Service to Self-reliance: How NAFRC is Building Pathways to Enterprise, Sustainable Livelihoods

At the Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos, Air Vice Marshal Nnaemeka Ignatius Ilo is giving fresh impetus to the centre’s core mandate of preparing personnel for life beyond military service. Through curriculum reforms, agricultural entrepreneurship, strategic partnerships, welfare initiatives and productive use of NAFRC’s assets, all point to a broader vision of transforming resettlement from a retirement requirement into a pathway to sustainable livelihoods, enterprise and continued national contribution. Chiemelie Ezeobi reports

F

right to participate in the electoral process.

For civilian staff, he announced salary increments for employees who had served the centre for more than five years and directed that essential medicines be provided free of charge to those not covered by NHIF, pending efforts to integrate them into the scheme.

He also addressed career progression, pensions, allowances, manpower development and working conditions.

The commandant further announced a review of the training curriculum to strengthen entrepreneurship-focused training and plans to establish cooperatives that would enable personnel to benefit from agricultural intervention programmes.

or retiring military personnel, the transition from the structured environment of the Armed Forces to civilian life can be as demanding as it is inevitable. For Air Vice Marshal Nnaemeka Ignatius Ilo, the Commandant of the Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos, that transition requires more than routine retirement preparation.

It requires deliberate investment in skills, entrepreneurship, welfare, partnerships and productive assets.

Since assuming office as the 42nd Commandant, AVM Ilo has increasingly placed post-service preparedness at the centre of his administration, while also seeking to reposition NAFRC as an institution capable of delivering relevant training and sustainable opportunities to personnel.

A spotlight on his activities in July and the first weeks of August have reflected that broad vision, ranging from engagement with personnel and private-sector partners to agricultural development, community relations and the inauguration of a new pre-discharge course.

Preparing Personnel For Life After Service A major expression of AVM Ilo's vision came on July 31 with the inauguration of Pre-Discharge Course 2/2026 at NAFRC. The course, designed to prepare retiring military personnel for civilian life, received 840 nominations across the Services, with 689 participants already received and documented.

The Special Guest of Honour, the General Officer Commanding 81 Division, Major General AA Babalola, urged the participants to embrace the training as a pathway to entrepreneurship, self-reliance and continued national service.

He also commended NAFRC for its sustained efforts in empowering retiring personnel through vocational, entrepreneurial and life-skills training.

The Commandant, AVM Ilo, disclosed that NAFRC was strengthening its curriculum in collaboration with the National Board for Technical Education (NBTE) and the National Directorate of Employment (NDE), with the aim of providing industry-relevant skills and nationally recognised certifications.

For Ilo, the objective is to make resettlement training more responsive to contemporary realities. The emphasis is increasingly on giving personnel practical skills that can translate into productive civilian careers and sustainable livelihoods after service.

The Director of Training, Brigadier General IE Akpaumontia, explained that those nominated across the Services would receive practical and theoretical training in vocational, technical and entrepreneurial disciplines, alongside entrepreneurship development, counselling and industrial attachment.

Taking Agriculture Beyond Training Agriculture has emerged as one of the key areas through which AVM Ilo intends to expand the centre's resettlement and empowerment programme.

During a recent courtesy visit to the Minister of Agriculture and Food Security, Senator Abubakar Kyari, in Abuja, he revealed that about 80 per cent of participants undergoing resettlement training had expressed interest in agricultural entrepreneurship.

To support this interest, NAFRC has acquired 40 hectares of land to expand its agricultural training programme. Ilo sought the ministry's assistance with technical training, modern equipment, extension services and policy guidance. The proposed partnership is intended to link training with practical opportunities, while also contributing to food security and sustainable livelihoods.

Senator Kyari, while expressing the ministry's readiness to work closely with NAFRC, encouraged the centre to organise beneficiaries

Building Strategic Partnerships Ilo's approach has also extended beyond government institutions. On July 23, Spectra Industries Limited visited NAFRC to explore stronger collaboration in training, research and human capacity development.

Leading the delegation, the Chief Operations Officer of Spectra Industries Limited, Mr. Odebiyi Oluwaseyi, said the visit was aimed at strengthening the existing relationship between both organisations and exploring opportunities for greater collaboration.

In turn, the commandant reaffirmed NAFRC's commitment to partnering reputable organisations to enhance its training programmes and expand opportunities for personnel undergoing resettlement and professional development.

Deepening Community Relations The commandant also sought to deepen NAFRC's longstanding relationship with the Mushin Local Government Council, recognising that the centre's role extends beyond its gates to the community in which it operates.

During his courtesy visit to the Executive Chairman of Mushin Local Government, Honourable Tunbosun Haruna Aruwe, Ilo called on the council to encourage more youths to take advantage of the centre's vocational training programmes, while reaffirming the centre's commitment to youth empowerment and community service.

Honourable Aruwe, in turn, commended the longstanding partnership between Mushin Local Government and NAFRC, highlighting the centre's contributions to the community through medical outreach services, security support, driver training and the donation of healthcare facilities.

Clockwise...L-R: Commandant, Nigerian Armed Forces Resettlement Centre (NAFRC), Air Vice Marshal Nnaemeka Ignatius Ilo; Special Guest of Honour, GOC 81 Division NA, Major General AA Babalola; and Director of Training, Brigadier General IE Akpaumontia with other senior officers of the centre and nominated personnel of the Pre-discharge Course 2/2026; AVM Ilo inspecting NAFRC's landed property in Epe for agricultural purposes; AVM Ilo with Minister of Agriculture and Food Security, Senator Abubakar Kyari; AVM Ilo with Executive Chairman of Mushin Local Government, Honourable Tunbosun Haruna Aruwe; and AVM Ilo flanked by winners of NAFRC's Second Quarter Inter-Block Competition

into cooperative societies to enable them to access government intervention programmes and agricultural support schemes.

He also advised NAFRC to outline and forward its areas of interest in the initiative so that the ministry could provide appropriate technical and institutional support in line with existing agricultural policies.

Turning Epe Land into a Productive Asset The agricultural vision took a more concrete form during Ilo's inspection of NAFRC's landed property in Epe on August 11. The Commandant directed that an economic farm be established on the property, with cassava and economic trees among the proposed crops. He also ordered arrangements for a borehole to provide water for farming and future

development.

Ilo explained that the acquisition of the land was intended, among other purposes, to facilitate the gradual relocation of some departments and activities of the centre from its Oshodi headquarters to Epe. Reforming the Centre From Within On July 21, Ilo met separately with military and civilian personnel, where he stressed discipline, professionalism and commitment to duty, urging them to uphold the core values of the Armed Forces. He cautioned personnel to comply with the Armed Forces' social media policy and urged military personnel to remain loyal to constituted authorities, patriotic to the nation and apolitical in line with military ethics, particularly ahead of forthcoming elections. Civilian staff, he said, should exercise their constitutional

Rewarding Discipline and a Better Living Environment Ilo's reform agenda also encompasses the environment in which personnel live and train.

On August 12, he rewarded winners of NAFRC's Second Quarter Inter-Block Competition, which involved more than 40 residential blocks. The exercise covered cleanliness, maintenance, structural condition, environmental management and innovative value-added projects.

CBQ Block S emerged overall winner with a N1 million cash prize, while CBQ Block T and Brigadier General AO James Block placed second and third, receiving N600,000 and N400,000 respectively.

Presenting the awards, AVM Ilo congratulated the winning blocks and urged them to sustain the standards that earned them recognition.

A Broader Resettlement Vision From curriculum reform and vocational training to agriculture, cooperatives, partnerships, welfare, community service and productive asset development, AVM Ilo is indeed positioning the centre around a central objective: preparing personnel not simply to leave military service, but to enter the next phase of their lives with relevant skills, confidence and sustainable means of livelihood.

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FOCUS

From Turnaround to Runaround: Nigeria’s Failed Refinery Gamble Why state-owned plants keep failing while private refiners rise

Prof. Momodu Kassim-Momodu

performance is not commercialised; it is repackaged. A regulator that tolerates opaque supply arrangements, weak disclosure and anti-competitive risks is not regulating; it is supervising decline.

Legal point in brief: The Petroleum Industry Act 2021 gives Nigeria a framework for commercial discipline, regulatory separation and public accountability in the petroleum sector. In refinery terms, that means NNPC Limited should be judged as a commercial operator, the NMDPRA should enforce transparent downstream rules, and government should justify any further refinery spending through audits, measurable milestones and value-for-money tests. If the state-owned refineries cannot compete under that legal framework, the lawful policy choice is not another ceremonial restart; it is concession, privatisation, conversion or exit.

A

fter decades of public money, solemn promises and ceremonial restarts, Nigeria’s government refineries are no longer merely industrial failures; they are a test of whether the Petroleum Industry Act 2021 means anything in practice. Dangote Refinery and modular refiners have exposed the scandal at the heart of the old model: commercial refining can work in Nigeria, but not where politics is allowed to masquerade as management.

In Nigeria, wahala is more than trouble; it is the kind of stubborn trouble that outlives official promises, survives public anger and returns after every new excuse. Rooted in everyday Nigerian speech and widely understood across pidgin and urban English, the word carries a cultural sense of recurring difficulty, public frustration and weary recognition. Few national assets fit better than the federal government-owned refineries in Port Harcourt, Warri and Kaduna. Built to turn Nigerian crude into fuel and industrial feedstock, they became symbols of waste, political indulgence and institutional decay. For a crude-exporting country that repeatedly imports fuel, the failure is not merely embarrassing; it is an indictment of governance.1 Age alone did not sink the refineries. Old plants can still make money when capital is disciplined, operators are competent, crude supply is reliable, procurement is transparent and prices reflect market realities. Nigeria’s state-owned plants endured the reverse: political interference, poor maintenance culture, opaque contracting, pipeline vandalism, subsidy distortions, shutdowns and weak accountability. Their combined installed capacity has long been cited at about 445,000 barrels per day, yet for years they produced little or nothing while consuming public funds.2 Summary: Nigeria’s state-owned refineries have failed not because refining is impossible, but because politics repeatedly overruled economics, maintenance became a procurement ritual, and accountability remained weak. The Petroleum Industry Act 2021 gives government the legal tools to impose commercial discipline, while Dangote Refinery and modular plants show that domestic refining can work when capital, governance and incentives are aligned. The central policy choice is now unavoidable: audit the past, stop open-ended rehabilitation spending, concession, privatise or repurpose failing assets, and regulate the postDangote market to protect competition.

The Long Road From National Asset to National Liability Nigeria’s government refineries were conceived as strategic infrastructure: the old Port Harcourt refinery, the newer Port Harcourt plant, Warri Refining and Petrochemical Company and Kaduna Refining and Petrochemical Company. In theory, they were to guarantee domestic fuel supply, deepen industrialisation and reduce dependence on imports. In practice, they became recurrent budget items and bargaining chips in the politics of energy security.

Successive governments approved major rehabilitation and turnaround maintenance programmes. Reports put expenditure at extraordinary levels, with legislative inquiries examining claims that about US$18 billion was spent between 2010 and 2024 on the Port Harcourt, Warri and Kaduna refineries without commensurate performance.3 Other reviews cite about N11.35 trillion in expenditure over the past decade and approved contracts including US$1.5 billion for

Prof. Momodu Kassim-Momodu

Port Harcourt and about US$1.48 billion for Warri and Kaduna combined.4 Whatever the precise totals, the central fact remains: Nigeria has spent enormous sums on refineries that have not delivered reliable capacity.

The Port Harcourt rehabilitation contract approved in 2021 was valued at US$1.5 billion, while subsequent rehabilitation commitments for Warri and Kaduna added further billions in planned expenditure.5 Yet declarations of mechanical completion and intermittent restarts have not delivered sustained commercial refining. Warri and Port Harcourt reportedly resumed briefly after late-2024 milestones, only to face shutdowns and further reassessment in 2025.6 For citizens, the cycle is no longer merely familiar; it is insulting: announcement, contract, commissioning, celebration, silence, shutdown, and another contract.

The Petroleum Industry Act Promised A Break with this Culture The legal turning point should have been the Petroleum Industry Act 2021, designed to provide a new governance, regulatory and fiscal framework for Nigeria’s petroleum industry, with clearer institutions, stronger accountability and a commercial national oil company.7 It created NNPC Limited as a company under the Companies and Allied Matters Act, replacing the old statutory corporation model and signalling that the national oil company should behave like a business, not a ministry with petrol pumps.8 That legal shift matters. If NNPC Limited is genuinely commercial, loss-making refineries cannot be treated as untouchable national heirlooms. The Act separates commercial operations from regulation: the Nigerian Upstream Petroleum Regulatory Commission oversees upstream matters, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority regulates refining, storage, transportation, distribution and marketing.9 The operator must operate; the regulator must regulate; the shareholder must demand value.

The continuing dysfunction therefore raises a legal as well as economic question: is the state complying with the spirit of the Petroleum Industry Act, or merely borrowing reform language while preserving old habits?

A commercial company that absorbs public money and expectations without transparent

Why The Refineries Failed Despite Huge Expenditure First, ownership without commercial discipline bred weak incentives. State ownership need not automatically mean failure, but Nigeria’s model combined public ownership with political control and limited operational accountability. Management decisions were often shaped by ministerial signalling, subsidy politics and national symbolism rather than return on capital. The Petroleum Industry Act was supposed to end this confusion by making NNPC Limited a commercially oriented entity. If that promise is taken seriously, refinery assets must be judged by audited performance, not patriotic sentiment.7 Second, turnaround maintenance became an event rather than a system. In competitive refining markets, maintenance is planned, measured and tied to output, safety and profitability. In Nigeria, it became almost synonymous with expensive rehabilitation contracts. Academic and industry analyses identify delayed maintenance, under-recovery from price controls, low capacity utilisation, obsolete configuration and pipeline disruptions as recurring causes of poor performance.10 When maintenance is episodic and procurement-driven, plants deteriorate faster than money can restore them.

Third, Nigeria’s fuel subsidy regime distorted the economics of refining. For many years, petrol prices were politically administered.

Subsidies protected consumers from market prices but also weakened incentives for efficient domestic refining, encouraged import dependence and created fiscal leakages. A refinery cannot thrive where products are priced by politics, feedstock supply is uncertain and losses can be socialised. Subsidy removal has created new opportunities for market-based refining, but it also exposed the old plants’ inability to compete after years of protected inefficiency.

Fourth, crude supply and infrastructure insecurity undermined operations. Refineries depend on reliable crude delivery, power, water, logistics and product evacuation. Nigeria’s pipelines have suffered vandalism, theft and sabotage, while depots and distribution networks have aged. Even a repaired refinery cannot operate sustainably if crude supply is intermittent or product evacuation is unreliable.

This explains why rehabilitation contracts, however large, cannot by themselves solve a system-wide failure.

Fifth, opacity weakened public trust and may defeat the reform logic of the law. Repeated expenditure without transparent engineering audits, published performance benchmarks and enforceable consequences has fuelled suspicion that refinery rehabilitation became a rentseeking ecosystem. Calls by legislators for forensic review of expenditures reflect public concern that public money has been deployed without traceable value.11 The issue is therefore not only technical; it is legal and constitutional in spirit: public assets are being managed without the level of accountability that a reformed petroleum framework demands.

The Dangote contrast The Dangote Petroleum Refinery has changed the terms of the debate. Located in the Lekki Free Zone, Lagos, it is designed to process about 650,000 barrels of crude oil per day and is widely described as the largest single-train refinery in the world.12 It began producing diesel and aviation fuel in January 2024, moved into petrol production in September 2024 and, according to subsequent market reports, ramped up output to levels sufficient to meet substantial domestic petrol and diesel demand.13 Its most important achievement is not simply size; it is proof of execution. The refinery moved Nigeria beyond the old lament that domestic refining was impossible. Reuters reported in 2025 that Dangote was loading more than 45 million litres of petrol and 25 million litres of diesel daily, after the government introduced a fuel import tariff intended to protect domestic refining investment. 13 Another Reuters report noted that a 90,000 metric tonne gasoline cargo from the refinery was bound for Asia, showing that the plant had moved from domestic symbolism to global market participation.

The refinery has also begun to reshape regional trade flows. West and Central African markets that historically depended on European imports have increasingly received diesel, gasoil and aviation fuel from Lagos.15 A functioning refinery saves foreign exchange, creates industrial jobs, supports logistics, deepens petrochemical value chains and gives Nigeria bargaining power in regional energy markets. Dangote has become a private-sector rebuttal to decades of publicsector excuses.

Dangote’s success is not magic. It reflects scale, integrated financing, project discipline, privatesector incentives, modern technology, supporting infrastructure and a clear commercial objective.

The refinery was built with storage, logistics, power and petrochemical integration in mind, not as an isolated prestige project. Its progress exposes the central weakness of the government refineries: Nigeria did not lack crude oil, engineers or markets; it lacked a governance model that punished failure and rewarded performance.

Yet Dangote’s success also carries a warning.

Nigeria must not answer state failure with private dominance. Energy security requires competition, open access to crude, fair regulation, transparent pricing and multiple refining centres. Modular refineries matter because they are smaller, less capital-intensive and closer to crude-producing areas. Reports indicate that Nigeria has dozens of licensed modular refinery projects, though only a few operate consistently, including Waltersmith, Edo and Aradel.16 Their output remains modest, but they show decentralised refining can work when crude access, finance and regulation are aligned.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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NEWS

MAIDEN EDITION OF WARRI UNITY GAME...

His Majesty Ogiame Atuwatse III, the Olu of Warri and Her Majesty, Olori Atuwatse III, Queen Consort of Warri Kingdom flanked to the left by His Imperial Majesty Obi, (Dr) Gregory Nnamdi Oputa III of Aboh Kingdom and to the right, His Royal Majesty, Kingsley Emakpo Orereh; Ataneru Igbi II, The Ovie of Agbarha Kingdom; with other dignitaries at the final of maiden edition of Warri Unity Game organised by His Majesty the Olu of Warri to promote unity, peaceful coexistence, healthy competition and collaboration at Federal Government College, Warri, Delta State...recently

Nigeria Risks Missing China’s $18 Billion Export Window, Experts Warn

Michael Olugbode in Abuja

Nigeria risks squandering a potentially transformative opening in the Chinese market unless it urgently fixes its production, processing and export capacity, stakeholders warned on Friday as China’s new zero-tariff regime opened a fresh $18 billion trade window between both countries.

The warning came against the backdrop of China’s decision to remove tariffs on imports from African countries with diplomatic relations with Beijing, a move that Nigerian officials and trade experts said could dramatically expand the country’s access to one of the world’s largest consumer markets.

Chinese Ambassador to Nigeria, Yu Dunhai, disclosed in Abuja that bilateral trade between Nigeria and China reached $18 billion in the first half of 2026, while Chinese imports from Nigeria jumped by 80 per cent to $2.3 billion following the implementation of the zero-tariff policy on May 1.

But rather than celebrate the figures, speakers at an international seminar on the policy challenged Nigeria to confront the structural weaknesses that could prevent the country from turning preferential access into sustained export earnings, industrial growth and jobs.

The seminar, organised by the Centre for China Studies, brought together senior government officials, lawmakers, diplomats, manufacturers, farmers, exporters and academics to examine the implications of the Chinese initiative for Nigeria and Africa.

The emerging consensus was stark: China has opened the door, but Nigeria must first produce what the Chinese market wants, in the required quantity and quality.

Yu said the policy had already produced tangible benefits, with Nigeria recording significant savings on export tariffs.

He cited Nigerian sesame exports, saying every 100 tonnes now saves about $11,000 in tariff costs, while the country’s annual

Former Minister of Petroleum, Dan Etete Thumbs Down Amachree’s Account of General Abacha’s Death Laleye Dipo in Minna Twenty-eight years after the death of former head of state General Sani Abacha the circumstances surrounding his demise continue to be shrouded in mystery While some claim he transitioned during- extra marital activities others believe he died a natural death.

A recent book by Dennis Amachree in which he asked Nigerians to accept the final account of the cause of the death of General Sani Abacha got thumbs down from former Minister of Petroleum, Dan Etete, who accused Mr. Amachree of seeking "recognition".

A statement by Mr. Etete

circulated to newsmen in Minna last weekend said his reaction to the publication is because the late head of state "was not an ordinary man or citizen of Nigeria that such an important case which involves the country’s president should not be taken lightly.

Etete said in the statement that "Mr. Amachree asks Nigerians to accept a detailed account of the final hours of a head of state on nothing but his own recollection, offered twenty-eight years after the fact adding that he (Amachree) names no witness.

The woman on whom his entire account depends is not identified. There is nothing to show she has ever confirmed a word of it."

export of 7,000 tonnes of cattle bone granules could save nearly $450,000.

A single 23,000-tonne shipment of Nigerian liquefied propane, he added, saved approximately $300,000 in tax on the first day of the new regime.

Yet, the ambassador made clear that tariff elimination alone would not guarantee Nigerian success in the Chinese market.

“Meeting Chinese market standards and ensuring reliable supply volumes are essential for long-term success,” he said.

He urged Nigerian producers to improve quality, strengthen supply chains and move beyond the export of unprocessed commodities.

China, he said, was prepared to support Nigeria with technology,

equipment and technical expertise, including partnerships for industrial parks and local processing.

The Director of the Centre for China Studies, Charles Onunaiju, delivered perhaps the strongest warning of the day, saying the preferential access could become another missed opportunity if Nigeria failed to reform its production and trade systems.

“Zero-tariff treatment for products coming from Africa is only the starting point, it’s not the finish line,” he said.

For Nigeria, the challenge is particularly significant because the country has repeatedly struggled to translate preferential access to foreign markets into large-scale export growth.

Onunaiju said African

countries must address structural constraints, harmonise standards, improve customs procedures and strengthen regional integration under the African Continental Free Trade Area.

He argued that the Chinese initiative could provide Africa with the opportunity to become a major global manufacturing base, but only if countries build productive capacity rather than remain suppliers of raw materials.

“The opportunity of becoming the next workshop of the world is in Africa,” he said.

The federal government also used the forum to push its industrialisation agenda, insisting that Nigeria must stop treating the export of raw materials as the end point of economic activity.

The Permanent Secretary,

Ministry of Foreign Affairs, Ambassador Dunoma Ahmed, said Nigeria’s central question should not simply be how much it could sell to China but how much value it could retain domestically.

“Our natural resources must become the starting point, not the end point, of economic activity,” he said.

He called for crude oil to feed petrochemical and downstream industries, agricultural commodities to support agroprocessing and manufacturing, and solid minerals to drive mineral processing and industrial production.

“In other words, we must transition from exporting resources to exporting value,” he said.

Odu’a Investment Receives AA-(NG) Credit Rating from GCR Moodys, Recommits to Value Creation, Strategic Expansion Sunday Okobi The GCR Ratings, an affiliate of Moodys, has assigned the Odu’a Investment Company Limited (OICL) a national scale long term issuer rating of AA-(NG) and short-term issuer rating of A1+(NG), with a stable outlook, in recognition of the company’s strong portfolio and conservative financial profile.

This inaugural rating underscores the Group’s robust financial profile, high-quality investment portfolio and

disciplined capital management.

Commenting on the rating, the new OICL Group Chairman, Dr Tola Kasali, said: “The rating is a strong endorsement of the Group’s five-decade legacy of prudent stewardship and value creation, affirming the resilience of its investment model, which combines strategic holdings in listed equities with growing contributions from its operating subsidiaries.”

Kasali, who stated this in a statement issued and made available to THISDAY yesterday

by the OICL Head of Branding and Communications, Victor Ayetoro, noted the AA-(NG) rating reflects the Group’s conservative leverage, strong liquidity, and the quality of its underlying assets, even as it navigates the complexities of frontier markets.

He added the Group is particularly encouraged

by GCR’s recognition of its governance standards, which remain free from undue shareholders’ influence despite its state

governments' ownership structure.

On his part, the Group Managing Director of the company, Mr. Abdulrahman Yinusa, expressed delight at the outcome of the rigorous assessment, highlighting that: “GCR’s rating confirms the Group’s strong liquidity coverage of approximately 2x over the next 24 months, supported by a liquid listed portfolio valued at over N80 billion and unencumbered cash of N4.8 billion.”

Abbas Empowers 1,000 Constituents with Start-up Kits, Capital

Adedayo Akinwale in Abuja

The Speaker of the House of Representatives Rt. Hon. Abbas Tajudeen has empowered 1,000 of his constituents with business start-up kits and capital, noting that the Renewed Hope Agenda of President Bola Tinubu has

trickled down to them.

Abbas stated this Saturday while addressing constituents at the distribution of household and micro-enterprise support equipment with seed capital to 1,000 beneficiaries in his Zaria Federal Constituency, Kaduna State.

The Speaker in a statement

issued yesterday by his Special Adviser on Media and Publicity, Musa Krishi said leadership is not measured by noise, but by the lives it lifts.

At the event, the beneficiaries were given Point-of-Sale (POS) machines, tables, chairs, and umbrellas, as well a seed capital of N100,000.

He noted: “Today, 1,000 families will go home with tools, with capital, and with dignity. That is the politics I believe in. That is the covenant between Zaria and her representatives. By the grace of God, we shall keep renewing it. Project after project.

Year after year.”

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T H I S D AY • MONDAY, AUGUST 17, 2026

NEWS

DISTRIBUTION OF ESSENTIAL HEALTHCARE COMMODITIES TO PHCS ACROSS IBEJU-LEKKI...

L- R: Director, Nursing Services, Mrs. Christiana Adeboboye; Permanent Secreray, Health District III Dr. Monsurat Adeleke; Apex Nurse of Ikoyi/ Obalende Local Council Development Area (LCDA), Eunice Shofolahan; and Officer in Charge, Iraye Primary Healthcare Centre (PHC), Epe, Blessing Kalu, during the distribution exercise of essential healthcare commodities to PHCs across Ibeju-Lekki, Eti-Osa and Epe held at the District Headquarters, Ikoyi, Lagos ... recently

RMAFC Launches Reform Initiative, Moves to Deepen Transparency, Public Trust Sunday Ehigiator The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has launched a Strategic Communications and Institutional Reform Initiative aimed at repositioning the commission for greater

transparency, accountability and public trust in Nigeria’s fiscal governance.

Chairman of the Commission, Dr. Mohammed Bello Shehu, speaking at a breakfast session with members of the Guild of Editors over the weekend, said the initiative marked a major

shift in the way RMAFC would communicate and discharge its constitutional responsibilities.

“It is with a profound sense of responsibility and commitment to our constitutional mandate that I formally launch today the Institutional Reform and Strategic Communications Initiative of the

Revenue Mobilization Allocation and Fiscal Commission,” he said.

According to him, the initiative was “not merely a communication adjustment, but a structural repositioning of the Commission to better serve the Nigerian federation in an era that demands greater

Shell Divestment: Niger Delta Communities Demand Justice, Remediation

Blessing Ibunge in Port Harcourt

Some rights groups have decried the recent oil assets divestment by Shell, accusing the oil giant and the federal government of sidelining host communities in a process they said transferred assets and liabilities without adequate consultation.

Executive Director of African Law Foundation (AfriLaw), an Abuja-based justice and human rights development organisation, Chinwike Okereke made the allegation at the weekend in Port Harcourt during an Extractive Host

Communities and Human Rights Defenders Training Workshop.

The workshop, organised by AfriLaw in partnership with the National Human Rights Commission (NHRC), focused on strengthening the capacity of human rights defenders, journalists, community leaders and civil society organisations to protect communities affected by extractive activities across the Niger Delta.

According to the AfriLaw executive director, responsible divestment requires meaningful consultation with communities that have borne the environmental and social

consequences of oil production.

He argued that Shell’s divestment process failed to adequately involve affected communities, describing the situation as a violation of their rights and a failure by the government to protect citizens.

“Divestment is not automatic; it is a process and there is a transfer of liabilities and assets,” he said, stressing that communities should have been given the opportunity to participate and protect their interests.

He also faulted the federal government for approving the transaction without ensuring that the welfare and rights of

Niger Delta communities were adequately protected.

The AfriLaw chief called on the NHRC and other relevant institutions to initiate a remediation process, insisting that the environmental damage and other legacies of oil operations should not be abandoned after divestment.

He said justice for affected communities must include compensation and remediation of the negative impacts of oil activities.

AfriLaw said the programme is being implemented across the nine Niger Delta states, with further workshops scheduled before October.

China Opens Market to Africa, FG Sets Industrialisation Drive on Zero-Tariff Policy Michael Olugbode in Abuja

The federal government has declared China’s decision to extend zero-tariff treatment to 100 per cent of tariff lines for African countries a potential turning point in Nigeria’s industrialisation drive, saying the policy could unlock jobs, investment and a new era of value-added exports.

Minister of Foreign Affairs, Ambassador Bianca

Odumegwu-Ojukwu, who made the declaration, said Nigeria would work to transform the Chinese trade concession from a policy announcement into increased production, exports and actual shipments of Nigerian manufactured and value-added goods to China.

The minister spoke in a message to participants at an international seminar organised by the Centre for China Studies

in Abuja at the weekend.

The seminar, themed “China’s Zero-Tariff Treatment on 100% of Tariff Lines for African Countries and its Implications for Structural Economic Transformation in Africa,” examined the opportunities and challenges presented by China’s expanded market access for African products.

Odumegwu-Ojukwu described the initiative as a

major opportunity to accelerate industrialisation, create jobs and drive structural economic transformation across Africa.

She also commended the Centre for China Studies and the Embassy of the People’s Republic of China for convening the seminar, describing the zero-tariff policy as a historic development capable of shifting Africa-China relations from a traditional focus on “aid and loans” to “trade and production.”

transparency, accountability, and public trust.”

The Chairman said RMAFC occupied “a unique and strategic place in our national governance architecture,” given its constitutional responsibility to monitor revenue accruals into the Federation Account, advise on revenue allocation formulas and oversee remuneration for public office holders.

“Every month, as revenues are shared among the federal, state, and local governments, the work of this commission directly influences national stability, development equity, and intergovernmental harmony.”

However, he expressed concern that the public did not sufficiently understand the commission’s mandate.

“Yet, despite this pivotal role, public understanding of our

mandate remains limited. Too often, the Commission’s work is perceived as technical, distant, or misunderstood.

“In today’s democratic environment, that is no longer sufficient. Transparency must not only be practiced, it must also be communicated clearly.”

The Chairman said the reform was coming at a critical period for Nigeria’s fiscal system, with revenue volatility, increasing demands for accountability and the need for greater predictability in revenue allocation.

“Nigeria is at a defining fiscal moment. Revenue volatility requires stronger monitoring.

Citizens demand accountability in public finance. States seek fairness and predictability. The media demands clarity and speed of information.”

Otti Approves N31m Interim Support for 31 Abia Returnees from South Africa

Boniface Okoro in Umuahia

Abia State governor, Dr. Alex Otti, has approved the immediate disbursement of N31 million as relief support for Abia indigenes who recently returned from South Africa following reported xenophobic attacks.

The approval covers N1,000,000 each for 31 verified returnees as an interim support measure to cushion the effect of their sudden return and to reassure them that the state government has not abandoned them.

In a statement issued on Sunday by the Chief Press Secretary to the governor, Mr. Ukoha Njoku Ukoha, the government said the gesture is aimed at providing immediate succor to the victims while a more comprehensive plan is

being developed.

According to the statement, a detailed profiling of each returnee is currently ongoing to determine their individual circumstances and socio-economic realities.

The profiling, the government explained, will enable it to design appropriate interventions for sustainable reintegration and social protection tailored to the specific needs of each returnee.

“Governor Otti’s approval underscores his compassion and unwavering commitment to the welfare of vulnerable persons in communities across Abia State and beyond,” the statement said.

The governor said the support reflects the administration’s resolve that every Abian, regardless of circumstance or location, deserves an opportunity to recover, rebuild and contribute meaningfully to society.

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NEWS

12TH NDLEA CEO COMMAND AWARDS AND RECOMMENDATIONS...

L-R: Chairman/ Chief Executive Officer, National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Muhamed Marwa Rtd; Special Adviser to Chairman, NDLEA, Col. Yakubu Bako (rtd); Chief of Staff to Chairman, NDLEA, Lt. Col. Shehu Mijinyawa, and Deputy Director, Admin and Establishment, NDLEA, Kabir Sani, during the 12th edition of Chairman/Chief Executive Officer's commands awards and commendations at the NDLEA national headquarters in Abuja...recently PHOTO: ENOCK REUBEN

Industrial Court Nullifies PENGASSAN Chevron Elections, Orders Fresh Poll Under Labour, Ministry Supervision Chinedu Eze

National Industrial Court of Nigeria, Lagos Division, has nullified the September 16, 2025 elections conducted by Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) for its Chevron branch, and ordered the association to conduct fresh elections within 30 days of the judgement.

The court also directed the South-West Zonal Director of Labour, Federal Ministry of

Labour, Lagos, to supervise the fresh elections and submit a compliance report to the court within seven days of the exercise.

The verdict was the latest in the intervention of the judiciary in the affairs of PENGASSAN at various branches.

It would be recalled that the national leadership of PENGASSAN was equally embroiled in a suspension saga with some branch members of the Nigerian Midstream, Downstream Petroleum Regulatory Authority

(NMDPRA).

In January 2026, the industrial court in Abuja overturned the suspension of the members and ordered the dissolution of the caretaker committee constituted

by Central Working Committee (CWC) of PENGASSAN following the expiration of the tenure of the Branch Executive Committee (BECOM) of the NMDPRA branch on May 27, 2025.

In the matter involving the Chevron branch, the 22-page judgement, delivered by Justice

Joyce A. O. Damachi in suit No. NICN/LA/214/2025, on August 10, 2026, also declared unconstitutional and void the dissolution of the Chevron Branch Executive Committee (BECOM) and Chapter Executive Committee (CECOM) by PENGASSAN's Central Working Committee (CWC) on October 8, 2024.

The court further invalidated the eight-member caretaker committee subsequently installed to administer the branch, as well as extensions of its tenure

beyond the constitutionally prescribed three-month period.

The judgement upheld the validity of the Chevron branch bye-laws dated February 10, 2017, as reviewed in February 2022, declaring the purported unilateral revocation of the bye-laws by PENGASSAN's National Secretariat on July 8, 2025, unconstitutional and void.

The judge equally declared the election guidelines issued by the PENGASSAN National Secretariat on July 30, 2025, unconstitutional, invalid and

Insiders: Ojulari Never Awarded Oil Blocks, Has No Statutory Role in Licensing

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, neither awarded nor participated in the award of any oil block or marginal field, industry insiders have declared, describing allegations linking him to the process as ‘deliberately false, malicious and legally unsustainable.’

The sources stressed that neither Ojulari nor NNPC possesses the statutory authority to allocate oil blocks or issue petroleum licences in Nigeria.

Under the Petroleum Industry Act (PIA) upstream licensing is administered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) while the authority to grant a Petroleum Prospecting Licence (PPL) rests with the Minister of Petroleum Resources.

Consequently, the sources said any suggestion that Ojulari personally awarded an oil block, influenced the allocation process or used his position to secure a field for any individual or company is not only unsupported by evidence

but fundamentally inconsistent with the law.

“This allegation collapses under the slightest scrutiny,” a senior industry official said.

“Ojulari did not conduct the bid process, evaluate applicants, select winners or award any oil block. He had absolutely no statutory role in the exercise. Those spreading this narrative know this, but they are deliberately misleading the public.”

They stated that powerful interests threatened by the reform programme of the NNPC leadership are allegedly behind a coordinated campaign to discredit Ojulari and force him from office, according to industry sources familiar with the developments.

The sources alleged that individuals whose commercial interests have been disrupted

by Ojulari’s transparency drive, tighter financial controls and cost-reduction measures are supporting a group operating under the name Oil and Gas Professionals Forum (OGPF).

The group recently alleged that a company linked to

Ojulari’s wife benefited from the award of a marginal oil field.

However, it reportedly failed to produce corporate documents, beneficial ownership records, licensing papers or any other credible evidence establishing such a connection.

Industry insiders described the allegation as a calculated fabrication designed to stain Ojulari’s reputation, erode public confidence in his leadership and create artificial grounds for agitation against his continued tenure.

“This is not an innocent misunderstanding of the licensing process,” one source said. “It is a deliberate attempt to hold Ojulari responsible for an exercise over which he had no legal authority, no regulatory responsibility and no decision-making power.”

Sources said the attacks intensified as the NNPC leadership moved to improve transparency in commercial transactions, enforce financial discipline, reduce operating costs and review arrangements considered wasteful or inconsistent with the company’s commercial objectives.

They alleged that some individuals and companies that previously benefited from opaque transactions and weak institutional controls are fighting back because their interests have been affected by the reforms.

According to the sources, the strategy is to portray Ojulari as ethically compromised, weaken his moral authority and distract the NNPCL leadership from implementing far-reaching institutional changes.

Since assuming office, the sources said Ojulari has pursued reforms aimed at repositioning NNPC as a commercially driven, operationally efficient and globally competitive energy company.

“His leadership has prioritised cost reduction, improved production, stronger corporate governance, financial accountability and greater transparency across the company’s commercial operations.

“He has also demanded greater discipline in contracting and investment decisions, while seeking to eliminate waste, strengthen internal controls

and ensure that commercial arrangements deliver measurable value to the company and the Nigerian people,” a source said.

Industry stakeholders said the measures have inevitably challenged entrenched interests accustomed to benefiting from questionable arrangements and weak oversight.

The insiders dismissed the claims against Ojulari as baseless, mischievous and politically motivated.

A senior company official, who requested anonymity because he was not authorised to speak publicly, said Ojulari had complied with the relevant asset-declaration and Code of Conduct requirements.

“The attempt to link his family to an oil-block award is false and can easily be tested against official corporate and licensing records,” the official said.

“More importantly, the GCEO of NNPCL does not award oil blocks. NNPCL did not conduct the licensing exercise, and Ojulari neither selected nor approved any beneficiary. The allegation is therefore built on a false premise,” the source added.

not binding on the Chevron Branch.

Besides, the court set aside the branch delegate and executive elections conducted on September 16, 2025, declaring all offices assumed and actions taken pursuant to the elections a nullity.

Damachi granted a perpetual injunction restraining PENGASSAN, its agents, officers and privies from giving effect to the dissolved caretaker committee, the revoked bye-laws or the September 2025 elections.

The judgement followed a suit instituted by seven members of PENGASSAN's Chevron Branch — Sunday Ebulu, Ete Oyegbanren, Edwin Koloh, Samuel Akinfe, Fola Oyinbo, Alaba Fadola and Jeremiah Odior – against PENGASSAN, its National President, Festus Osifo, General Secretary, Lumumba Ignothemu Okugbawa, and members of the caretaker committee.

In ordering fresh elections, the court said the order was a consequential one flowing directly from its earlier findings that the dissolution, caretaker committee, bye-laws revocation, and subsequent elections were invalid.

Damachi held that a court possessed the inherent power to make consequential orders where necessary to give full effect to its judgement and ensure that justice was completely served.

Earlier in the judgement, Damachi had found that CWC lacked the constitutional basis to dissolve the elected branch leadership in the manner it did, adding that the constitution of an association constituted the “organic contract” binding its members.

The court held that PENGASSAN's constitution required strict compliance with prescribed procedures before an elected branch executive could be removed.

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NEWS

WHEN DIRI PRESENTED STATE-OF-THE-ART FIRE TRUCK TO BAYELSA AIRPORT...

Governor of Bayelsa State, Senator Douye Diri (middle) with Managing Director, Bayelsa International Airport, Air Vice Marshal Nelson Calmday (rtd), during the presentation of a new fire-fighting truck to the airport at Government House, Yenagoa, last Thursday

Jonathan Celebrates Babangida at 85, Hails His Contributions to Nigeria

Chuks Okocha in Abuja

Former President Goodluck Jonathan has congratulated former military president, General Ibrahim Badamasi

Babangida, on the occasion of his 85th birthday, describing his life as one marked by service, leadership and enduring contributions to Nigeria.

In a goodwill message

issued to mark Babangida’s birthday, Jonathan, on behalf of his family, warmly felicitated the former military leader and acknowledged his years of service in the military and

public sector.

In a statement by his media aide, Ikechukwu Eze, Jonathan said Babangida’s tenure as head of state remains a significant part of Nigeria’s history, adding

NDLEA Uncovers N3.8b Drug Empire, Arrests Businessman with Cocaine Bound for India

48-year-old sells business, assets for N23m cocaine deal, targets N100m profit

Michael Olugbode in Abuja

and Delta states.

Onyebuchi was arrested at the The National Drug Law departure hall of Terminal II of the Enforcement Agency (NDLEA) Murtala Muhammed International has uncovered a sprawling drug Airport, Lagos, while attempting trafficking network with seizures to board a Qatar Airways flight worth more than N3.6 billion in to New Delhi, India.

According to a statement Lagos alone, while arresting a 48-year-old businessman who by spokesman of NDLEA, allegedly sold off his business Femi Babafemi on Sunday, the and personal assets to finance operatives searching Onyebuchi’s a cocaine consignment destined luggage discovered 1.550 kilogrammes of cocaine concealed for India.

The dramatic arrest of inside the side walls and railings Nwankwo Onyebuchi, a Lagos- of the bag.

The suspect’s account of based marble dealer, highlights the increasingly sophisticated and how he financed the journey high-value nature of Nigeria’s provided a startling insight into illicit drug trade, as the NDLEA the desperation and enormous simultaneously dismantled major profits driving international drug drug operations across Lagos, trafficking.

The businessman allegedly Kano, Kwara, Oyo, Edo, Plateau

told investigators that he had liquidated his marble business and other assets to raise N23 million to purchase the cocaine.

His plan, according to the NDLEA, was to sell the consignment in India for as much as N100 million.

The arrest effectively ended what the agency described as his attempt to transform himself from a legitimate businessman into an international drug trafficker.

While the cocaine arrest unfolded at the airport, NDLEA operatives were also dismantling a massive drug distribution operation in Lagos.

At a warehouse hidden inside a residential compound at 20 Hakeem Dosumu Street, Ago Palace area of Okota, operatives

discovered 3,776 cartons containing 377,600 bottles of codeine-based syrup.

The seizure, made between August 7 and 8, was valued at more than N2.6 billion.

In a separate operation in Ipaja, NDLEA operatives raided the residence of suspected drug kingpin Shoremi Kayode, 55, at Ogundare Street, Ipaja Estate.

They recovered 324 kilogrammes of Colorado, a synthetic strain of cannabis, valued at N972 million, alongside a Mercedes-Benz and a Toyota Corolla.

Together, the two Lagos seizures were worth approximately N3.57 billion, putting the state’s latest haul at the centre of the nationwide crackdown.

Nigeria Ramps Up Local Production of Armoured Vehicles, Anti-Drone Systems, Says DICON-D7G Onuminya Innocent

Nigeria has moved to deepen its drive for a self-reliant military-industrial base, with the Defence Industries Corporation of Nigeria–D7G announcing plans to commence local production of armoured vehicles, anti-drone platforms and other specialised military hardware.

The initiative, being driven through a partnership between DICON-D7G and Eagles

International for Defence Systems, is expected to boost technology transfer, expand domestic manufacturing capacity and create hundreds of direct and indirect jobs across the country.

As part of the collaboration, the Minister of State for Defence, Dr. Bello Mohammed Matawalle, led a two-day inspection tour of factories and military production facilities in Cairo, Egypt. The delegation assessed equipment and production

systems earmarked to support Nigeria’s expanding defence manufacturing objectives.

Speaking on the partnership, Chief Executive Officer of DICON-D7G, Mr. Osman Chennar, said the arrangement would generate employment for over 200 workers and create opportunities for about 100 retired military personnel in the first phase.

He noted the collaboration was designed to establish production

lines that would facilitate the transfer of advanced military technologies to Nigeria, enabling the country to produce a wider range of equipment for its armed forces.

According to him, the move would also position Nigeria to serve other African markets with locally made defence platforms in the near future, thereby reducing the continent’s reliance on imports from outside the region.

that his experience and wisdom continue to provide valuable lessons for present and future generations.

According to Jonathan, “This milestone is a testament to a life of service, leadership, and enduring contributions to the development of our great nation.”

The former president prayed that God would grant Babangida continued good health, peace, strength and many more years of fulfilment in the company of his family and loved ones.

He also urged the former

military president to use the milestone as an opportunity to reflect on his national service and the lives he had touched over the years.

“May your birthday be a moment of gratitude for the journey you have undertaken and an opportunity to reflect on the many lives you have touched through your years of national service,” Jonathan said.

Jonathan wished Babangida a happy 85th birthday and prayed for God’s continued blessings upon him and the Federal Republic of Nigeria.

HoS Inaugurates Technical Working Committee on Digital Transformation Agenda Olawale Ajimotokan in Abuja

The Head of Civil Service of the Federation, Mrs. Esther Didi Walson-Jack, has inaugurated a high-level Technical Working Committee (TWC) to drive the implementation and coordination of the Federal Executive Councilapproved digital transformation agenda.

The 11-member TWC, chaired

by Dr. Deborah Odoh, Permanent Secretary, Federal Ministry of Budget and Economic Planning is saddled with developing the architecture, roadmap and governance mechanisms required to move the Service towards a more connected, efficient, secure and citizen-focused digital operating environment.

Walson-Jack said the inauguration was a defining milestone in the reform of the Federal Civil Service.

She stated that the Committee was constituted following the FEC’s approval of the Federal Civil Service Digital Transformation Progress

Report that entrusted critical responsibilities on the OHCSF and required coordinated action across Ministries, Extra-Ministerial Departments and Agencies (MDAs).

Walson-Jack added that digital transformation agenda must translate policy into measurable improvements in the way government works and delivers services to citizens.

The head of service noted that the time has come for the Federal Civil Service to move beyond isolated and fragmented digital initiatives and establish a coherent, government-wide digital ecosystem where information can flow securely, processes simplified and public servants are empowered to work more efficiently.

She charged the committee to develop a comprehensive digital transformation implementation framework and roadmap that would provide a clear pathway for the expansion, adoption and sustainability of digitalisation across the federal civil service.

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NEWS

THANKSGIVING SERVICE TO CELEBRATE THE 70TH BIRTHDAY OF SUNNY ADEDA...

L-R: President, Chartered Insurance Institute of Nigeria (CIIN), Mr.Akinjide Orimolade; Past President CIIN, Sir. Ogala Osoka; Celebrant and Past President, CIIN, Mr. Sunny Adeda; his wife, Mrs. Theresa Adeda, and Ughorodje of Olomu Kingdom, Albert Akpomudje (SAN), during the thanksgiving Service to celebrate the 70th birthday of Mr. Sunny Adeda at All Souls Anglican Church, Lekki, Lagos...recently

Alake Warns Illegal Miners as Seven Die in Kassa Abandoned Pit Collapse

Folalumi Alaran in Abuja

The minister of Solid Minerals Development, Dele Alake, has warned illegal miners against extracting minerals from abandoned pits without licences, following the death of seven persons in the collapse of an abandoned tin mine pit in Kassa, Barkin Ladi Local Government Area of Plateau State.

Alake, who described the incident as a tragic loss that could have been avoided, said

the illegal miners could have formed a cooperative and applied for a permit, which would have qualified them to benefit from field training by the ministry’s artisanal mining department and ensured a steady stream of income.

Reacting to the incident in a statement by his Special Assistant on Media, Lara Owoeye-Wise, yesterday, the minister commiserated with the government and people of Plateau State and prayed for the repose of the deceased.

He urged artisanal miners nationwide to learn a grave lesson from the incident, stressing the need to prevent abandoned mine pits from becoming centres of death.

“The challenge before the state and the Federal Government is how to turn these potential pits of death into centres of joyful prosperity,” Alake said.

According to him, there are over 4,000 mine pits dug by Amalgamated Tin Mines Limited and its successor companies,

Consolidated Tin Mines Limited and Nigerian Tin and Allied Products Limited.

He said the government welcomed investors interested in repurposing the abandoned pits for energy, tourism and fishery projects.

Alake said collaboration with the private sector remained the most proactive and fastest approach to turning dead assets into productive use, adding that the ministry had rehabilitated 59 abandoned pits so far.

He disclosed that the ministry had embarked on a strategic initiative to deploy advanced GIS satellite mapping and Artificial Intelligence through a public-private partnership with ImPPPact Nigeria Alliance, alongside geomatics specialist Intomatics, using Plateau State as the pilot beneficiary.

He said the initiative would help locate and accurately characterise the legacy tin pits and design workflows to reclaim the thousands of sites.

TINUBU CALLS ADELEKE, TASKS HIM ON UNITY AS INEC DECLARES GOVERNOR REELECTED overwhelming. My faith in democracy is deepened.

“Most importantly, I thank the media for standing by us. The constant coverage in support of democracy emboldened us. We are grateful. Osun State is on the march again. We shall expand development, and widen the net of good governance, “In this race, there is no victor, no vanquished. I extend olive branch to my co-contestants. I am the governor of all Osun people,” he said, declaring that, “My vision remains taking Osun from a civil service state to an industrial state and an investment destination”

APC: We’re Studying Devt to Know Next Line of Action, We Solicit Police Protection The Osun State chapter of the All Progressives Congress (APC), has stated that the leadership of the party was still studying the results of the governorship election in each of the 332 wards across the state with a view to exploring further the allowed constitutional window of opportunity in this regard.

In a statement issued by the Osun State APC Director of Media and Information, Mogaji Kola Olabisi, the party said, "We

are not unaware of the fact that election is a process which begins at the registration of the voters through the primary election to the election proper, which extends to the Tribunal, the Appeal Court and terminates at the Supreme Court.

"An election cannot be said to have been concluded without having explored all these constitutionally allowed legal opportunity to correct anomalies observed in the process of the election as enshrined in the Electoral Act 2026 as amended.

"We commend the steadfastness, sagacity and loyalty of the numerous members and supporters of our party for their contributions in getting to this juncture in the political history of the state.

"We make bold to state categorically that as a progressive party, which is founded on the unalloyed principle of the rule of law, fairness and justice, we shall not hesitate without further delay to explore the window allowed by the extant Electoral Act after the due consultation with the team of our lawyers based on their professional advice.

"The new development is a beauty of democracy with reference to the Independent National Electoral Commission

(INEC)'s declared governorship election results in the state which would not propel us to deviate from embracing the culture of the rule of law.

"As a result of the foregoing, we are imploring our ever loyal members and supporters to remain cool and calm while they carry on with their businesses and refuse to respond to any provocative action or inaction from any of the members of the ruling party across the state.

"It is necessary to assure our members and supporters not to despair about the current situation and have it in mind that it is not over until it is over.

"While we are appealing to the Nigeria Police Force to come to the aid and rescue of our members and supporters who are being needlessly molested by the ruling party, we are assuring them that we won't have any cause or reason to abandon them.

"The current situation in the political history of the state is a passing phase which will soon become part of history as justice shall be done accordingly."

Atiku: Osun Poll Forerunner of 2027 Polls Presidential candidate of the

African Democratic Congress (ADC), Alhaji Atiku Abubakar, has described the Osun election as a forerunner of the 2027 general election.

He, however, congratulated Governor Ademola Adeleke and the voters in Osun State for the successful conduct of the governorship election.

Atiku, in a press statement by his media office said the outcome of the election was a reflection of the democratic wishes of the people of Osun State.

He particularly expressed his satisfaction with the manner in which the Osun State voters came out in good numbers and resisted all antidemocratic machinations aimed at undermining the democratic process during the election.

“The outcome of last Saturday’s gubernatorial election in Osun State is an expression of the wishes of the people, which has earned Governor Adeleke his re-election.

“The lesson from the election is that the voters in Osun State have set a good example of how we must come out in large numbers in the general elections next year.

“Another important lesson from the Osun election is that it is a clear manifestation of

how the collective resolve of the electorate to stand firm to protect their ballot is the best antidote to rigging, vote buying and other electoral malpractice and irregularities.

“Nigerians have roundly rejected the APC. The election in Osun State is just a telling indication that the APC will be defeated in the general election in January 2027. Indeed, it is a forerunner of the 2027 General Elections.

“I specifically thank Governor Adeleke for mobilizing the people of Osun State to stand firm in the face of statesponsored intimidation and for leading the country into the path of the total defeat of the APC,” Atiku added.

Abbas: It’s Proof Tinubu is True Democrat Speaker of the House of Representatives, Hon. Abbas Tajudeen, has congratulated Governor Ademola Adeleke on his reelection for a second term, saying it proved that President Bola Tinubu was a true democrat.

Abbas, in a statement by his Special Adviser on Media and Publicity, Musa Krishi, said the Accord Party has only proved that democracy thrived under

The minister advised investors to direct enquiries to the Nigerian Mining Cadastral Office and the ministry’s Mines and Environmental Compliance Department, and apply to the Solid Minerals Development Fund’s funding programme.

To prevent the recurrence of abandoned pits, Alake said he had pioneered the establishment of the Environmental Protection and Rehabilitation Fund by activating what had been a constitutional provision.

Tinubu.

He added that Nigerians should expect more credibility in the forthcoming 2027 general election.

The Speaker noted that the APC under President Tinubu has allowed opposition parties to test their popularity in free and fair elections, as witnessed in Osun State.

He, therefore, urged Governor Adeleke to justify the mandate given to him by the Osun people and let it translate into dividends of democracy for them.

Tambuwal: This Proves Democracy is Working The Senator representing Sokoto South, Aminu Waziri Tambuwal, has congratulated Governor Ademola Adeleke on his re-election as Governor of Osun State, describing the outcome as a clear victory for democracy.

In a congratulatory message by his media office and posted on his official X account, Tambuwal said the renewed mandate reflected the resolve of the people of Osun to choose their leaders through the ballot.

“This victory is not only a Continued on page 42

T H I S D AY • MONDAY, AUGUST 17, 2026

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NEWS

INDUCTION OF NEW FELLOWS AND MEMBERS OF THE CHARTERED INSTITUTE OF ADMINISTRATION...

L-R: President and Chairman of Council, Chartered Institute of Administration, Administrator Ugochukwu Azubuko, FCIA, one of the newly inducted Fellows of the Chartered Institute of Administration, Rev. Oladapo Daramola; and ViceChancellor, Ajayi Crowther University, Administrator Professor Ebunoluwa Olufemi Oduwole, FCIA, during the induction of new Fellows and Members of the Chartered Institute of Administration, CIA, in Oyo, Oyo State, last Friday

2027: Accord, AAC, SDP Presidential Candidates Join Forces against Tinubu

Chuks Okocha in Abuja

The presidential candidates of the Accord Party, African Action Congress (AAC) and Social Democratic Party (SDP) have resolved to work together towards a common democratic force ahead of the 2027 presidential election, in what could become a significant realignment of Nigeria’s opposition politics.

The three candidates, Dr. Gbenga Olawepo-Hashim of Accord, Mr. Omoyele Sowore

of AAC and Adewole Adebayo of SDP reached the resolution after a meeting in Port Harcourt, where they deliberated on Nigeria’s democracy, economy and security during the weekend.

They expressed concern over the concentration of political power, weakening of democratic institutions and shrinking space for genuine political competition, warning that Nigeria risks moving from competitive multiparty democracy towards what they described as “a coronation

disguised as an election.”

The leaders consequently resolved to align their political forces towards presenting Nigerians with a joint democratic alternative in 2027.

The proposed alliance will seek to mobilise workers, youths, women, professionals, entrepreneurs, civil society organisations and Nigerians across ethnic, religious, regional and political divides.

Further consultations, they said, would determine the structure,

modalities and presidential candidate of the proposed alliance.

“The larger national interest must take precedence over individual political ambitions,” they declared.

The three presidential candidates demanded an immediate review of cases involving Nigerians detained or imprisoned over political expression, self-determination advocacy or the peaceful exercise of constitutionally protected

rights.

They specifically called for the immediate release of Nnamdi Kanu, whose agitation has centred on the political rights and aspirations of the Igbo people, and Bichia Maisango, whom they identified as an advocate of Hausa Zallah cultural rights.

They also called for an end to what they described as the legal and political persecution of Omoyele Sowore over his political activities.

The leaders stressed that their

position did not necessarily amount to an endorsement of the views or methods of the individuals concerned.

“Democratic societies must accommodate dissent and peaceful disagreement,” they said.

The three candidates called on the international community, democratic governments, regional institutions and international democracy and human-rights organisations to closely monitor Nigeria’s democratic trajectory.

TINUBU CALLS ADELEKE, TASKS HIM ON UNITY AS INEC DECLARES GOVERNOR REELECTED personal triumph for Governor Adeleke; it is a victory for democracy and, above all, a victory for the people of Osun State, who have once again exercised their constitutional right to determine who leads them,” Tambuwal stated.

The former Speaker of the House of Representatives noted that the election underscored the importance of free and credible polls in deepening Nigeria’s democratic culture.

“The ballot remains the most powerful expression of the will of the people in a democracy.

When citizens freely make their choice and that choice is respected, our democratic institutions are strengthened and public confidence in the electoral process is deepened,” he said.

Tambuwal commended the electorate in Osun for their peaceful conduct and high level of participation during the governorship election, adding that their commitment demonstrated faith in the democratic process.

He also congratulated Adeleke for earning the trust of Osun people for a second term, saying the result was a testament to the governor’s connection with

the grassroots.

Obi: When People Stand, Democracy Wins Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has described Governor Ademola Adeleke’s re-election in Osun State as a significant victory for democracy, declaring that, “When the people stand, democracy wins.”

Obi, in a statement by his spokesperson, Idris Zekeri Jnr, and titled: “Osun: When the People Stand, Democracy Wins,” congratulated Adeleke on his renewed mandate, saying the outcome demonstrated the power of the people to determine who governs them.

He said the people of Osun had “spoken with courage and clarity,” reaffirming that the constitutional power to choose their leaders ultimately belonged to the electorate.

According to him, Adeleke’s victory reflected the governor’s commitment to the people, compassion for their needs and the strength of his performance and achievements in office.

Obi, however, reserved special commendation for the youths of Osun State, whom

he credited with courageously and peacefully defending their democratic mandate.

He said their vigilance and determination demonstrated that “when citizens stand firmly to protect their votes, the forces of good can overcome the forces of darkness.”

The former Anambra State governor said the major lesson from the Osun election was that democracy could only thrive when citizens remained alert, understood their civic responsibilities and were determined to ensure that their votes counted.

“Every genuine vote must be respected and every lawful mandate upheld,” he stressed.

Looking ahead to the 2027 general election, Obi urged Nigerians to remain informed, participate actively in the electoral process, vote and, most importantly, protect their votes.

“The people are the ones experiencing hunger, deprivation, insecurity and hardship. Therefore, they hold the power through their votes to bring about the change necessary to address these challenges,” he said.

Kwankwaso: Adeleke

Deserves the Victory

Vice Presidential Candidate of NDC, Senator Rabiu Kwankwaso has, has congratulated Governor Ademola Adeleke, saying he deserved the victory.

In a statement, the former governor of Kano State, described Adeleke, who contested on the platform of the Accord Party, as a deserving winner of the people’s mandate.

“As a leader of the opposition and a committed democrat, I commend the people of Osun State for exercising their democratic rights and reaffirming the power of the people’s mandate,” the statement read.

Kwankwaso noted that the outcome of the election was a reminder that “when citizens remain committed to their civic responsibilities and make their voices heard, the people’s will must prevail.”

He also commended the Independent National Electoral Commission (INEC), for the conduct of the poll and urged all stakeholders to continue to uphold the principles of credible, peaceful and transparent elections.

“Congratulations once again to Governor Adeleke and the good people of Osun State,” he concluded.

Adeleke’s Win Gives Tinubu Fresh Chance to Rebuild APC, Declares Senator Orji Kalu Senator representing Abia North, Orji Uzor Kalu, has described Governor Ademola Adeleke’s victory in the Osun State governorship election as a democratic triumph.

He, however, said the defeat suffered by the All Progressives Congress (APC) should not be interpreted as a setback for President Bola Ahmed Tinubu ahead of the 2027 presidential election.

Kalu, in a statement by his media office, congratulated Adeleke on his re-election but urged APC leaders and supporters to treat the outcome as a lesson and an opportunity to rebuild the party’s grassroots structures and strengthen its engagement with voters.

Kalu further struck a broader political note, insisting that despite the APC’s loss in Osun,

Tinubu’s prospects in the state remained strong.

“The future of President Bola Ahmed Tinubu in Osun State is very bright. The outcome of this election is not a setback for Mr. President. Rather, it gives us another opportunity to strengthen our relationship with the people and work together for the success of Nigeria,” he said.

Natasha, YPP, NRM Hail Adeleke, Commend Voters, INEC, Security Agencies Senator Natasha AkpotiUduaghan, the Young Progressives Party (YPP) and the National Rescue Movement (NRM) have also congratulated Adeleke, portraying the election as a victory for popular will and an indication that political machinery alone could no longer guarantee electoral victory.

Akpoti-Uduaghan described the outcome as evidence that popular support could defeat political structures and influence.

In a statement, she said: “The people of Osun State have Continued on page 43

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T H I S D AY • MONDAY, AUGUST 17, 2026

NEWS

KICK-START PLANNING FOR FORTHCOMING LAUNCH...

Chairman, Committee for Launching of Ikot Ekpene Senatorial District Indigenes (ISDI) Lagos Land Acquisition; Hon. Monday Nnah (left), being presented an official letter by the Vice President of ISDI, Lagos, Apostle Dr. Emmanuel Dan, to kick-start planning and the process for the forthcoming launch, scheduled to take place in Lagos on Saturday, October 10th, during the District’s August General Meeting, recently in Lagos

TINUBU CALLS ADELEKE, TASKS HIM ON UNITY AS INEC DECLARES GOVERNOR REELECTED spoken loudly and unmistakably.

They stood firm, defended their votes and demonstrated that democracy belongs to the people. No amount of political machinery, intimidation or pressure can permanently silence the voice of the electorate.”

The YPP, in a statement by its National Publicity Secretary, Egbeola Wale Martins, also congratulated Adeleke and commended INEC, security agencies and Osun voters for what it described as the defence of a democratic mandate.

The party particularly praised INEC Chairman, Prof. Joash Amupitan, for what it called courage, professionalism and institutional independence in conducting the election.

The National Rescue Movement, in a separate statement by its National Chairman, Chinedu Obi, described Adeleke’s victory as a reward for good governance and people-oriented service delivery.

According to the NRM, the result reinforced the principle that “the people are sovereign and their will must ultimately prevail.”

Duke: Osun Poll, a Litmus Test for 2027 A former Governor of Cross River State and presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has congratulated Osun State Governor, Ademola Adeleke, on his re-election, describing the August 15 governorship election as a significant litmus test for Nigeria’s 2027 general election.

Duke, in a congratulatory statement by his Personal Assistant, Emeka Okparagu, yesterday, said Adeleke’s victory demonstrated that Nigerians could still determine their political leadership through the ballot box.

Duke said the result reflected the will of the Osun electorate, congratulating Adeleke on securing another four-year mandate.

“The people of Osun spoke with their vote and Nigerians heard them loud and clear. The people rewarded Governor Adeleke for his commitment to serving his people,” he said.

Duke said the latest result had further established Osun as an important political battleground ahead of the 2027 elections, adding that the poll offered valuable lessons on voter participation, electoral credibility and citizens’ ability to determine their leaders.

He, however, urged opposition politicians to set aside personal ambitions and egos if serious about defeating the ruling APC in the 2027 presidential election.

Dickson: Osun Poll Exposes Nigeria’s Deepening Electoral Crisis A former Bayelsa State Governor and National Leader of NDC, Senator Seriake Dickson, has expressed concern over the conduct of elections in Nigeria, saying the Osun election has exposed the nation’s deepening electoral crisis.

Dickson warned that the increasing militarisation, votebuying and alleged electoral malpractices witnessed in off-season polls such as the just-concluded Osun State governorship election were signs that the country’s democracy was going backwards.

The NDC national leader, who spoke with journalists against the backdrop of the Osun election, said there were legitimate concerns over the deployment of security forces during elections and the growing monetisation of the democratic

process.

He, however, clarified that the meeting he hosted with former leaders and members of the Alliance for Democracy (AD) was not convened to take a definitive position on the Osun election or other contemporary political issues.

According to him, the concerns he expressed were his personal views, although he noted that the NDC was deeply worried about the state of Nigeria’s democracy.

“As the national leader of the Nigeria Democratic Congress, I can say that we are very concerned about the militarisation of states, not just Osun,” Dickson said.

Dickson said the concern went beyond Osun, warning that there were broader apprehensions about the possible use of state institutions during the 2027 general elections.

“There are genuine concerns generally, even apart from Osun, about what state institutions will do or may be used for in the course of the upcoming general elections,” he said.

Olawepo-Hashim: Democracy Won in Osun Presidential Candidate of the Accord Party, Gbenga OlawepoHashim, has congratulated Osun State Governor, Senator Ademola Adeleke, on his reelection, describing the outcome of the governorship election as a victory for democracy and the people of Osun State.

Hashim, in a congratulatory message, commended the people of Osun for exercising their democratic rights and participating in the electoral process.

He said the election had once again demonstrated the power of the people to determine who governs them through the ballot.

“This victory is, above all, a testament to the power of the people and the enduring strength of democracy. When citizens exercise their civic responsibility with courage and conviction, their voice can shape the direction of their state,” he said.

Hashim also congratulated Accord Party leaders, members and supporters who participated in the election, describing their performance and commitment as part of the broader democratic gains recorded in the state.

He said Accord's participation reinforced the principle that Nigeria's democracy must remain open to genuine political competition and that every political party and candidate has a role to play in strengthening the democratic process.

The Accord presidential candidate urged Governor Adeleke to see his re-election as a renewed mandate to serve all residents of Osun State, irrespective of political affiliation.

“Elections end, but governance continues. The real responsibility now is to build an Osun where every citizen has a sense of belonging, where development reaches every community, young people have meaningful opportunities, and peace, justice and prosperity remain shared aspirations,” Hashim said.

IPAC, APM Hail Adeleke’s Victory, Say People Defeated Antidemocratic Forces The Inter Party Advisory Council (IPAC) and the Allied People’s Movement (APM) have hailed the victory of Governor Ademola Adeleke, describing the outcome as a triumph of democracy, rule of law and the people’s will over alleged political intimidation.

The two political bodies,

in separate statements, congratulated Adeleke and the people of the state, saying the election demonstrated that Nigerians could resist attempts to manipulate the electoral process and impose unpopular candidates on them.

IPAC, the umbrella body of registered political parties in Nigeria, described Adeleke’s victory as “a victory for democracy and the rule of law,” while commending voters for remaining committed to constitutional governance despite what it described as harassment, intimidation, arrests, killings and alleged interference by federal institutions ahead of the poll.

In a statement signed by its National Chairman, Dr Yusuf Mamman Dantalle, IPAC said the outcome was “sweet music in the ears of all lovers of democracy in Nigeria,” arguing that it showed what citizens could achieve when they resisted what it described as anti-democratic forces.

Similarly, APM congratulated Adeleke on what it described as his re-election on the Accord platform, declaring the outcome “a triumph of the will of the people over the rule of might.”

Dantalle, who also signed the APM statement as National Chairman, commended Osun voters for defying the political tension preceding the election, turning out to vote and protecting their votes.

In another statement by the National Publicity Secretary of the APM, Abubakar Yusuf, the party said, Tinubu would lose the 2027 Presidential election to the candidate of the Allied People's Movement (APM), Seyi Makinde, saying all indicators pointed to widespread public distaste against the Tinubu-led administration with Nigerians yearning for a people-oriented leadership under Governor Makinde.

The party said the booing of President Tinubu’s political henchmen including APC state governors as they fled from Osun State showed that Nigerians were done with the APC and could not wait to vote out President Tinubu in 2027.

NGF: Poll Confirms Nigerians’ Resilience The Nigeria Governors’ Forum (NGF) has congratulated Governor Ademola Adeleke on his reelection at the weekend.

A statement by the Chairman of the NGF, Alhaji AbdulRahman AbdulRazaq, in Ilorin, Kwara State, acknowledged the strides and personality of the governor, which readily paid off at the election.

The Forum similarly commended the people of the state for the large turnouts during the election.

“We believe that the interest that the off-cycle ballot generated again confirms the resilience of the Nigerian democracy,” the statement said.

The Forum acknowledged the important role that opposition parties also play in shaping democracy and commended all the candidates for their efforts.

The NGF commended the security agencies for curtailing the initial trend of violence in the days leading to the election and creating a secure condition for the exercise to proceed without much incidents.

"Finally, we acknowledge the statesmanlike role that President Bola Ahmed Tinubu, has played as he carefully balanced his position as the leader of the ruling party on the one hand and the father of the nation on the other.

"We are confident that HE Ademola Adeleke will continue to build on the successes of his first term in the overall interest of the people of Osun State," he said.

monday august 17, 2026 • T H I S D AY

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NEWS xtra

RECONCILIATION MEETING…

L-R: Chief of Staff to the Delta State Government, Prince Johnson Erijo; Prince Michael Diden(Ejele); Senator Representing Delta South Senatorial District, JoelOnowakpo Thomas, and Chairman, All Progressives Congress(APC), Delta South Senatorial District, Prince Emman Amgbaduba, during a reconciliation meeting at the residence of Ejele in Warri, Delta State…yesterday

Troops Recover Explosives, Arms During Raid on Extremist Enclaves in Anambra, Zamfara Linus Aleke in Abuja

Troops of the newly established 15 Brigade, Nigerian Army, operating under the Joint Task Force in Southeast, Operation Udo Ka, have recovered arms, explosives, and other logistical items during a coordinated raid on three suspected Indigenous People of Biafra/ Eastern Security Network (IPOB/ESN) camps.

In a statement, the Nigerian Army said the three camps were completely deactivated during the raid.

According to the Service, the intelligence-led operation was conducted following credible information on the activities of suspected IPOB/ ESN elements operating from camps located at Osuakwa, along the boundary between Ihiala and Ogbaru Local

Government Areas of the state.

Acting swiftly on the intelligence, troops of 15 Brigade, in conjunction with personnel of the Department of State Services (DSS) and the Agunechemba Vigilante Group, launched a carefully planned dawn raid on the

identified locations.

He said: “During the operation, the joint force came under hostile fire from the terrorists but responded decisively, overwhelming the criminals after a fierce firefight.

Three suspected IPOB/ESN members were neutralised,

while all three camps were successfully overrun and destroyed to prevent their future use as operational bases.

“The troops also recovered a cache of weapons, explosives and logistical items, including one FN rifle with 10 rounds of 7.62mm NATO ammunition,

one pump-action shotgun with five cartridges, 15 sticks of dynamite, four motorcycles, one gas cylinder, three hybrid batteries, two car batteries, three handheld radio chargers, as well as other items believed to have supported the group’s criminal activities.

Oluyede: My Support for Tinubu Won’t Medical Expert Offers Tips Diminish My Commitment to PDP on Stroke Prevention Kemi Olaitan in Ibadan

A Nigerian medical expert based in South Africa, Dr. Ademola Tosin Ojo, has enjoined Nigerians to pay close attention to their health and adopt preventive measures to reduce the risk of stroke.

He gave the advice during a radio/television programme where he discussed stroke, its warning signs, possible causes, prevention, and appropriate first-aid measures.

The cardiovascular doctor urged members of the

public to take early warning signs seriously, stating that prompt recognition of stroke symptoms and immediate medical attention could significantly improve the chances of survival and recovery.

According to him, lifestyle choices, diet, and certain underlying health conditions can increase an individual’s risk of suffering a stroke, charging Nigerians to maintain healthy eating habits, monitor their blood pressure, and seek medical attention whenever unusual symptoms occur.

Tonlagha Honoured among Top 100 African Women in UK

The Chief Executive Officer of the Esther Matthew Tonlagha Foundation (EMT Foundation), Pastor (Mrs) Esther Tonlagha, has been honoured among the Top 100 Reputable Women of African Descent, 2026, in recognition of her humanitarian service and contributions to community development.

Tonlagha received the recognition at the Africa Women Summit (AWS) UK Conference 2026, held on Saturday at Hilton Croydon, United Kingdom, where she also participated as a panel speaker.

The conference, themed “Her Power, Her Purpose,

Her Platform,” brought together women, leaders, partners and other stakeholders to discuss women’s leadership, empowerment, purpose and their role in driving positive change.

Responding Tonlagha said the recognition meant a great deal to her and the foundation, stressing that it represented more than the work of one person or organisation.

She said it reflected the lives touched, communities welcomed and the contributions of the team, volunteers, partners and supporters who had worked with the foundation.

Gbenga Sodeinde in Ado-Ekiti

The 2026 governorship candidate of the Peoples Democratic Party (PDP) in Ekiti State, Dr. Wole Oluyede, has insisted that his decision to support the re-election of President Bola Tinubu in 2027 would not diminish his commitment and loyalty to the PDP, maintaining that he remains a bona fide member

of the opposition party.

Oluyede, who announced the formation of a coalition of opposition political parties to mobilise support for Tinubu’s second-term bid, said his decision was borne out of national interest and should not be misconstrued as a defection from the PDP. The former PDP governorship standard-bearer spoke in Ado-Ekiti during the inaugural meeting of the

Oluyede Progressive Alliance for Renewed Hope Agenda (OPARHA), where he urged his supporters to put the 2026 Ekiti State governorship election behind them and join hands in supporting the president’s Renewed Hope Agenda.

He disclosed that the coalition comprises members of the PDP, Accord Party, Action Democratic Party (ADP), Young Progressives

Party (YPP), Action Alliance (AA) and other political groups committed to working for Tinubu’s re-election in 2027.

According to him, his decision followed a recent communication from the presidency during which President Tinubu appealed to him to move beyond the bitterness that trailed the Ekiti State governorship election and work with his administration.

2027:Duke Advises Opposition to Bury Egos, Unite against APC

Ayodeji Ake

The presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has urged opposition politicians to set aside personal ambitions and egos if they are serious about defeating the ruling All Progressives Congress (APC) in the 2027 presidential election.

Duke, a former Governor of Cross River State, said the

major obstacle confronting the opposition was not necessarily the strength of the APC but its inability to unite around a common political objective.

Speaking in an interview, he said opposition leaders must be willing to negotiate, compromise and build a credible coalition anchored on a shared vision for Nigeria.

According to him, politicians cannot continue to

pursue separate presidential ambitions and expect to defeat an incumbent party with a well-established nationwide political structure.

He stressed that victory in 2027 would depend on collaboration rather than fragmentation, arguing that Nigerians were yearning for a credible alternative to the current administration.

Duke said opposition parties must first agree on

how to address the country’s economic and security challenges before focusing on who would occupy the presidency.

He noted that personal ambitions had repeatedly frustrated efforts to build sustainable political coalitions in Nigeria, warning that a divided opposition could split the anti-APC vote and ultimately strengthen the ruling party.

Police to Clamp Down on Traffic Violations in Jigawa Ibrahim Shuaibu in Dutse

The Jigawa State Police Command has announced the commencement of a statewide enforcement operation, codenamed ‘Operation Velvet’, aimed at curbing persistent violations of traffic laws and reducing road crashes across the state.

The operation, scheduled to commence on August

24, 2026, will be conducted simultaneously across the 27 local government areas of the state in collaboration with sister security and traffic management agencies.

The Command said the exercise was designed to enforce strict compliance with traffic regulations, enhance road safety and protect the lives and property of motorists, passengers,

pedestrians and other road users.

Under the operation, joint enforcement teams will intensify patrols, stop-andcheck operations and targeted enforcement at major roads, highways, urban centres, markets, motor parks and other identified traffic-prone locations.

The Police Command said the exercise would particularly

target motorists and other road users involved in overloading passengers, goods or animals, dangerous and reckless driving, driving against traffic, driving without number plates or valid documents, use of unroadworthy vehicles, illegal parking, obstruction of traffic, failure to obey traffic signs and signals, and unauthorised use of tinted glass, among other offences.

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T H I S D AY • MONDAY, AUGUST 17, 2026

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe

Email duro.ikhazuagbe@thisdaylive.com

08111813083 SMS Only

Bako Calls for Sack of Gusau-Led NFF Board to Avert Further Damage to Nigeria Football Duro Ikhazuagbe Former Sokoto State FA Chairman, Dr Danladi Bako, has described the continued stay in office of the Ibrahim Musa Gusau-led board of the Nigeria Football Federation (NFF) as an aberration.

Dr Bako who as the Producer of the popular but now rested leading sports programme “MasterSports” on the Nigerian Television Authority (NTA), galvanised the fight and advocacy for FIFA to increase Africa’s World Cup slots from two to five in 1992, insisted yesterday that “In years gone by, the Nigerian Football Federation board led by Ibrahim Gusau would have been sacked by now. Their continued stay in office after a woeful first tenure makes past military regimes look messianic because during General Ibrahim Babangida or General Sani Abacha’s regimes, the monumental failures of the current board would not have lasted this long before they get fired.”

The former DG of the Nigeria Broadcasting Commission (NBC) stressed that it was self-serving,

immoral and insensitive to throw the emotions of over 200 million football loving Nigerian fans into a ping-pong, ding-dong and topsy-turvy clanger.

“I imagine the pain of the country and a football loving President Bola Tinubu that the Super Eagles have not qualified for the FIFA World Cup since 2018, losing out in 2022 and 2026 even when Cape Verde, a country of less than a million people qualified, even when a small Caribbean country like Curacao qualified, even when FIFA increased the (CAF) African slots to 10.

“I was the producer of NTA “Mastersports” in 1992 and galvanised the fight and advocacy for FIFA to increase Africa’s slots from 2 to 5. We qualified for the first time in 1994. 32 years later, we can’t qualify for 2022 and 2026 World Cups. Even at the last stages of the last AFCON in Cote d’Ivoire, the President graciously released N12 billion for the campaign yet we came back with the silver and not the real trophy.”

The former Sokoto State FA chairman who has attended six

Forest’s Guard of Honour for Departing Awoniyi Taiwo Awoniyi, who is set to join Coventry City, received a guard of honour from his teammates during Forest preseason match against Brest on Sunday.

Awoniyi said goodbye to the fans at City Ground at half-time of their 2-0 win over Brest, and the first-team squad tossed him in the air in celebration.

After the match, Forest manager Oliver Glasner said that Awoniyi was probably one of the most pleasant people he had met and was always friendly and smiling Glasner stated that everyone

at the club and in the stands likes him because he always gives his full effort for the team and the bench.

The manager added this was the reason Awoniyi deserved such a farewell and a guard of honour, and why they had decided to provide it. Glasner wished him the best at his next club, but not when they compete against Forest.

The 29-year-old striker is expected to join Coventry in the next few days and be ready to play in their team for the Premier League opener against Arsenal on Friday.

the NFF and the current one as well have no inspiring pedigree to drive huge campaigns of an impactful World Cup.” Bako further put these poor handling of the country’s football as the reason the why Nigeria’s age group national teams have all underperformed. “And the sad issue is that there seems to be no hope ahead.”

He described the free money inherent in the federation as the reason why every successive administration at the NFF always resort to using FIFA threat for why the government that is funding the country’s sports not to interfere in its affairs.

“As at 1985, we did not know that FIFA gave the football body as much as $500,000 Swiss francs for the Kodak U-17 victory in China. Going forward, the then NFA developed a secrecy code of non-disclosure that they were paid hundreds of thousands of dollars for every qualification at the senior World Cup to ensure quality preparation.

“At every attempt by any supervising Minister to investigate or make the

Association accountable, the leadership screams that government is interfering and they threaten FIFA will ban Nigeria. Free money has become the attraction to fight tooth and nail to be NFF President. Any attempt to retool and recalibrate

the lopsided composition of the Congress that serves as the Electoral College will herald hoopla and false propaganda that FIFA will ban us.

Continued online at www.thisdaylive.com

Ibrahim Gusau...outgoing NFF president

Arsenal Open New Season with Community Shield Win over Man City

Premier League champions Arsenal produced a statement 3-0 win over rivals Manchester City to lift the 2026 Community Shield in Cardiff.

Mikel Arteta’s side took the lead after just 23 seconds when Myles Lewis-Skelly slipped in Riccardo Calafiori, who slotted an effort past Manchester City goalkeeper Gianluigi Donnarumma.

Arsenal then doubled their lead in the 28th minute through Kai Havertz’s downward header after summer signing Christos Tzolis had nodded Martin Odegaard’s cross back across goal.

Three minutes into the second half, Tzolis found Odegaard in the City box set up by Myriam Nyadjou. and the Norwegian forced Ngah then struck again three minutes into first-half stoppage time, this time from an assist by Ndjoah Eto, to effectively settle the contest before the interval.

The victory made Cameroon the fourth different nation to Barcelona have agreed a deal win the Women’s Africa Cup to sign Spain captain Rodri of Nations, joining Nigeria, from Manchester City for Equatorial Guinea and South about £65m Africa.

The 30-year-old, who won It also ended a painful the Ballon d’Or in 2024, is set sequence of three previous to sign a four-year deal with final defeats for the the Spanish champions.

Indomitable Lionesses, The transfer is expected to who had lost to Nigeria in be completed in the coming the deciding match in 2004, days.

2014 and 2016.

Malawi Succumb to Cameroon’s Superior Firepower as Lionesses Win Historic WAFCON

Cameroon won the TotalEnergies CAF Women’s Africa Cup of Nations (WAFCON) for the first time after a commanding 3-0 victory over Malawi in Sunday’s final at the Moulay El Hassan Stadium in Rabat, Morocco.

Marie Ngah scored twice, either side of Naomi Ndjoah Eto’s goal, as the Indomitable Lionesses produced a devastating first-half display to finally end their long wait for continental glory.

Ngah opened the scoring in the 20th minute before Ndjoah Eto doubled the advantage 10 minutes later after being

FIFA World Cups, three Olympic Games as well as no less than 12 AFCON competitions, stressed that it really must be a bad news for the country’s First Lady, Senator Oluremi Tinubu who as motivator for the Super Falcons watched helplessly as the team crashed out of the WAFCON at the quarterfinal stage and also failed to qualify for the Women’s World Cup for the first time in 35 years!

“That we lost out at the quarter final is embarrassing enough, we simply did not play well, we scrapped through the whole tournament unconvincingly.

Now, we are not going to be in Brazil next year.”

Instead of blaming the failures on ‘bad luck’, Bako insisted that it is sheer incompetence that produces these kinds of results.

“I was FA Chairman in Sokoto State and Special Adviser to Minister of Sports, Chief Jim Nwobodo when we plotted how to win the football gold at the Centennial Atlanta Olympic Games in 1996. So I speak out of experience. I am sorry, the immediate past President of

Donnarumma to the floor with an excellent fake shot before passing the ball into the opposite corner.

The Gunners’ victory over

the FA Cup holders gave them their second trophy in four months and their 18th Community Shield title overall.

The match was played at Principality Stadium while Wembley hosts Canadian singer The Weeknd’s ‘After Hours til Dawn’ tour.

Arsenal Players and Officials celebrating after defeating Manchester City 3-0 to win 2026 Community Shield...yesterday in Cardiff

Barcelona Agree £65m Deal to Sign Rodri from Man City Rodri made 298 appearances across seven trophy-laden seasons at City after joining them from Atletico Madrid in 2019 for a then club record £62.8m.

He missed much of the 202425 campaign after sustaining a serious knee injury, and parts of last season were disrupted by a hamstring issue.

However, he was back to his best at the World Cup in the summer, leading Spain to their second title and being named player of the tournament.

Rodri leaves City having won 12 major honours, including four Premier League titles, two FA Cups, three EFL Cups and the Champions League in 2022-23

Rodri...set to switch from Man City to Barcelona

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BACKPAGE CONTINUATION

UN Women Back 220-Hour SGBV Law Marathon, Says Legal Ignorance Undermines Access to Justice Michael Olugbode in Abuja The United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) has thrown its weight behind a 220-hour Guinness World Record attempt by Nigerian lawyer and sexual and gender-based violence (SGBV) prosecutor, Olubunmi Uluba, warning that lack of knowledge of existing laws remains a major obstacle to justice for victims of violence.

The marathon, which involves the public reading of SGBV laws, policies and legal instruments from 15 African countries, is designed to go beyond a record-breaking feat and stimulate legal awareness, comparative learning and reforms in the continent’s response to sexual and gender-based violence.

Speaking in Abuja ahead of the exercise, Beatrice Eyong, UN Women Country Representative to Nigeria and ECOWAS, said citizens could not effectively demand justice or protection under laws they did not understand.

“If you don’t know the laws, if you don’t know what has been written about sexual and gender-based violence, you cannot assert your rights.”

Eyong said the problem was not limited to members of the public, stressing that duty-bearers also needed

adequate knowledge of SGBV legislation and policies to effectively implement them.

According to her, African countries have made commitments through international and regional instruments on women’s rights and the prevention of gender-based violence, but gaps persist in translating those commitments into effective domestic implementation.

She said the 220-hour initiative offered an opportunity for countries to examine one another’s legal frameworks, identify best practices and strengthen institutional responses to SGBV. “The significance of the initiative goes beyond Nigeria and the participating African countries because of the international attention expected from the record attempt,” Eyong said, noting that the unprecedented exercise could take the conversation on SGBV laws to a global audience.

Uluba said the exercise would cover Nigeria, Ghana, Cameroon, South Africa, Namibia, Rwanda, Kenya, Uganda, Zambia, Zimbabwe, Malawi, Sierra Leone, Tanzania, The Gambia and Botswana.

She explained that the comparative reading was not intended to rank African

countries, but to identify provisions and practices that could strengthen survivor protection, access to justice and institutional responses to SGBV. “We can pick the best practices and imbibe in our laws,” Uluba said.

She added that the initiative would not end with the record attempt, as organisers planned a post-marathon stakeholder dialogue where the findings would be converted into recommendations for policy and legislative reforms.

“We want to move from conversation to knowledge, from knowledge to evidence, from evidence to recommendations, and

from recommendations to reform,” she said.

Eyong also rejected the perception that gender-based violence should be treated merely as a private or domestic matter, warning that its consequences extend to national development and economic growth.

“It’s not just a social thing.

It’s not just a health thing.

It’s not just something that happens in the home,” she said, stressing that SGBV affects communities, societies and economies.

She further noted that SGBV should not be viewed exclusively as a women’s issue, pointing out that men and boys can also be victims.

The initiative is also

attracting government support, with stakeholders indicating that its momentum would be used to strengthen community engagement, survivor support and implementation of existing legal protections.

Jessica Duru, Legal Officer with FCT Women Affairs Secretariat, said the Federal Capital Territory had recorded more than 3,072 reported SGBV cases on its national dashboard, describing the figures as an indication that more victims were gaining confidence to speak out and seek help.

She said authorities would work to expand shelters, safe spaces and emergency support

services while ensuring that legal protections were implemented across the six Area Councils.

Dr. Abiodun Essiet, Senior Special Assistant to the President on Community Engagement, also described the initiative as an important platform for strengthening public understanding of SGBV laws and improving protection for survivors.

The organisers said the ultimate objective was to ensure that the publicity generated by the Guinness World Record attempt translates into greater legal literacy, stronger enforcement, improved survivor protection and concrete legislative reforms across Africa.

Wike Signs 26,272 Certificates of Occupancy Olawale Ajimotokan in Abuja

FCT Minister Nyesom Wike has signed a total of 26,272 Certificates of Occupancy to facilitate ease of doing business in the FCT since President Bola Tinubu assumed office in 2023.

Senior Special Assistant Public Communications and Social Media, FCT Minister, Lere Olayinka, disclosed in a statement yesterday.

He said this number was against a total of 8,697 produced and signed between 2010 and 2023.

It also marked an improvement in comparison to the total number of 5,500 Certificates of Occupancy produced during the five and half years administration of President Goodluck Jonathan and the 3,197 that were produced and signed during the eight years administration of the late President Muhammadu Buhari.

Aside the 26,272 Certificates of Occupancy, a total of 2,521 Consents to assign was also granted by the FCT

Administration while 177 Consents to Mortgage were granted in the last three years of the Tinubu administration.

This was against 753 Consents to assign and 180 Consents to Mortgage granted by the Jonathan administration as well as 684 Consents to assign and 164 Consents to Mortgage granted during the eight years of President Buhari.

He cited the inability of property owners to get Certificates of Occupancy when needed as one of the challenges which restricted

many small and medium businesses access to funding.

“The moment necessary payments are made, land allottees can now get their C-of-O within two weeks.

"Also, an automated notifications have been introduced to ensure that land allottees are informed when their documents are ready for collection," Olayinka said.

He attributed the delays under previous administrations to inefficiencies that discouraged landowners from completing payments.

BABANGIDA @85: BOSS, SOLDIER AND STATESMAN challenges and above all, deep bonds of trust.

Serving as Military Governor of Niger State gave me a particularly intimate connection to the man behind the uniform.

I was entrusted with the leadership of the state that produced him, and that responsibility brought me closer to his roots, his people and his personal history.

I saw firsthand the deep affection with which the people of Niger State regarded him. I also came to understand that beneath the formidable image of the military officer popularly called the “IBB,” there was a man who valued friendship, loyalty and human relationships.

Our paths continued to cross at the highest levels of national service. As Communications Minister and later as a member of the AFRC, I witnessed his leadership from close quarters. We shared moments of intense national anxiety, difficult policy choices and historic decisions.

History will judge the Babangida years in its own way. There will always be debates about his policies, decisions and the political choices made during that period. That is the nature of history and the burden of leadership.

But those of us who worked closely with him know that leadership is never as simple as it appears from the distance of history.

I remember General Babangida as a leader who possessed an extraordinary political instinct, a sharp military mind and an uncanny ability to read people and situations. He could be firm when

Babangida

circumstances demanded firmness, but he also understood the power of conversation, persuasion and human relationships.

Over the years, our official relationship matured into something much deeper, friendship between our families.

The Babangidas became family friends, and that relationship has endured long after

the uniforms were put away and official positions became history. We have shared moments of joy and sorrow, celebrations and difficult times.

At 85, therefore, I celebrate not only the former Military President but the man I have known personally for decades.

I celebrate the commander who carried

enormous responsibilities.

I celebrate the leader who occupied the centre stage of Nigerian history at one of its most turbulent periods.

And I celebrate my boss and leader, a man who has given a significant part of his life to Nigeria.

General Babangida's journey also reminds us that nations are built not only by institutions, but by relationships, sacrifices, difficult choices and the courage to confront the circumstances of one's time.

Today, as he clocks 85, I look beyond the titles, the controversies and the historical debates. I see a man with whom I have shared a remarkable chapter of Nigeria's story and a friendship that has survived the passage of time.

General Sir, as you celebrate this extraordinary milestone, accept my warmest congratulations and heartfelt appreciation for the years of friendship, camaraderie and shared service to our beloved country.

May God continue to preserve you, strengthen you and grant you many more years in good health, peace and fulfilment.

May He continue to bless your family and grant you the grace to enjoy the fruits of a long and eventful life.

Nigeria will always remember your place in its history. I will always cherish your role in my life.

Happy 85th Birthday, my Boss.

SENATOR MARK, President of the 6th & 7th Senate, Federal Republic of Nigeria, is Chairman, African Democratic Congress (ADC).

47

T H I S D AY • MONDAY, AUGUST 17, 2026

BACKPAGE CONTINUATION ONE DANCE STEP, ONE VOTE Defeating APC in Osun State was a milestone achievement, for many reasons. One, it is in the heart of Yorubaland, home turf of President Bola Tinubu. Osun is thought to be his original home state before he shifted base to Lagos. Leading APC in the state is the President’s nephew, former state governor and current Minister of Marine and Blue Economy Gbenga Oyetola, who reportedly backed Oyebamiji to the hilt right from the party primaries. Besides, Oyetola has a big axe to grind with Adeleke, who denied him a second governorship term by defeating him in the 2022 elections.

APC sent ten state governors, led by the Senate President, to Osun to back Oyebamiji, a show of political force and colour that no other party in the country can match since the heydays of PDP rule. Given that the average Nigerian state governor moves with a motorcade of twenty vehicles, led by a siren car, surrounded by security vehicles and gun totting Mopols and bodyguards, with Senate President Akpabio’s motorcade being twice as long, that’s enough vehicles to overwhelm all the roads that Adeleke ceremoniously commissioned in the heat of the campaign.

It was not even the huge APC support entourage that frightened Adeleke. We did not hear him complain about that; in fact, I am sure he had to accommodate them, as protocol demands. He was more scared of the 15,000 policemen, 1,500 Civil Defence corpsmen and thirty Police Commissioners [Compols] led by a Deputy Inspector General [DIG] that descended on the state, ostensibly to ensure election security. Osun has thirty local government areas, meaning each LGA had a full Compol who displaced the DPO and took charge. IGP Tunde Disu, when we vote in

presidential elections in January, when citizens in every state and FCT will vote on the same day, will you have a total of 1,110 Compols and 37 DIGs to deploy? Otherwise, is this a useful test run, when it cannot be replicated in the general election? Osun is not even regarded as one of the politically volatile states in Nigeria.

There are at least ten other states that, from political antecedents, will require a Compol or even an AIG in every LGA when they hold elections. Oga Disu will have to recall the army of retired Compols, AIGs and DIGs in Nigeria to make up for the shortfall.

But let’s give it to the policemen; their orders were not to return an APC victory by hook or by crook. It reminds me of the story of an American filmmaker in the 1930s who was shooting a film about top Mafia gangster Al Capone. He named the film “Scarface,” which was Capone’s alias. For security reasons he hired a whole hotel floor in Los Angeles and posted several guards. Still, as he was working in the night, he heard a knock on the door and four heavily armed Mafiosi walked in and interrogated him. He denied that the film was about Al Capone. To his surprise, they said, “Should we tell Al that?” and they left him unharmed. Obviously, their orders were not to kill him, despite the menacing presence. obviously. The Cops in Osun had no orders to demolish Adeleke.

But we can understand the governor’s fear because, on election eve, Senator Francis Fadahunsi, who represents Osun East in the Senate, said something to the effect that Adeleke’s Accord Party supporters should be killed. He subsequently clarified that he meant to be killed in the ballot box, but it was an unfortunate choice of words, akin to when President Obasanjo

described the 2007 election in nearby Ondo State as a “do or die,” or when a Kaduna State APC chieftain urged supporters at a rally to shave and bring Senator Shehu Sani’s Afro hair.

The cops’ apparent neutrality had earlier been soiled by the Economic and Financial Crimes Commission’s [EFCC] move, on the eve of the election, to freeze Osun State government accounts in order, it was claimed, to forestall vote buying. President Tinubu himself declared the move to be an embarrassment and publicly ordered EFCC to roll it back. Which one is vote buying? State governments, and the Federal Government too, do all sorts of things when elections approach, from clearing leave grants and pension benefits to sponsoring pilgrimages and mass weddings, all as backhand vote buying.

It is not the few naira notes handed to voters near the polling station that make all the difference; that one is usually meant to offset their transport costs, otherwise they will sit at home and say they cannot afford taxi fare [due, allegedly, to withdrawal of petrol subsidy]. Nor is it a new problem; on the eve of the 1992 National Assembly elections, I interviewed for Citizen magazine the NRC Chairman of Ondo Local Government outside NRC National Headquarters in Abuja, and he said, “My supporters will say, why should I take my money and join vehicle just because I want to vote for somebody?” So, when we hold general elections in January, EFCC should better freeze the accounts of all 36 state governments, of the Federal Capital Territory, of all 774 local governments and FCT area councils, and of the Federal Government as well, in order to forestall open and disguised vote buying.

In the wake of Adeleke’s victory, the opposition African Democratic Congress [ADC] leaders

were understandably ecstatic, saying in a congratulatory statement that it signposts what is about to happen next year. Well, it might and it might not. This is not the first time that a Federal ruling party lost a governorship election under its very nose. In 1983, despite its “landslide victory” in the presidential and most other elections, NPN’s candidate Adamu Attah was defeated in Kwara State by UPN’s Josiah Sunday Olawoyin. Of course it was the doing of NPN kingmaker Oloye Sola Saraki, who fell out with his former protégé Attah.

When PDP reigned supreme in Nigeria, it still lost governorship elections at various times in Kano, Jigawa, Borno, Yobe, Zamfara, Sokoto, Kebbi, Bauchi, Nasarawa, Lagos, Ondo, Ekiti, Anambra, Imo, Abia and Edo. That was even before the party’s wholesale collapse in 2015.

So, Adeleke’s win might signpost electoral trouble for APC next year, but then, it was hardly cheering news from ADC either, whose candidate performed woefully in Osun. One observer said at the weekend that ADC supporters actually teamed up with Accord and voted for Adeleke. If so, their leader Aregbesola did not say so, the way former state governor Olagunsoye Oyinlola publicly endorsed the APC candidate but ended up losing his own polling unit to Accord.

Oga Adeleke, what is the best way to celebrate this great victory? Is it to dance all the way from Ede to Ife to Oshogbo to Lagos and all the way to London, to great lyrics hastily composed by your nephew Davido, who is just back from the World Cup? The official campaign season for 2027 will soon start. I suspect that governorship aspirants all over the country will learn from Adeleke’s success and will soon turn every campaign podium into a dance arena.

IBRAHIM BABANGIDA AT 85: A CONVERSATION WITH HISTORY new perspectives on historical narratives.

Importantly, Babangida also had the courage to correct the erroneous impression that the January 1966 coup—the first in the country’s history—was an “Igbo coup,” a narrative that went beyond individual responsibility to assign collective ethnic guilt for the first of several tragic events that year. As General Ibrahim Badamasi Babangida (Rtd), GCFR, turns 85, the 1993 election annulment remains an inevitable aspect of his legacy. Having dealt with it — and the January 1966 coup — he should be at peace with himself. His legacy, however, encompasses far more.

With the sad exception of Gen. JohnsonThomas Aguiyi-Ironsi, Nigeria’s first military Head of State, Nigeria’s former military rulers have all enjoyed long lives. Former President Muhammadu Buhari, also a former military ruler, passed on more recently at 82. There are three reasons why this longevity is a blessing.

First, it has afforded them a golden opportunity to reflect on their times in power and on what they did right or wrong. Writing a memoir is only part of that process; memoirs can sometimes serve self-justification more than unflinching self-assessment and can leave important questions unaddressed. I believe IBB’s memoir passed the test of honest self-examination.

Second, a long life has enabled these elder statesmen to enjoy the immense prestige that accompanies being a former Head of State or Government—a satisfaction that runs deep in human psychology. Third, and perhaps most important in our contemporary context, longevity has given them all, IBB included, the chance to observe first-hand the undebatable decline of the Nigerian state over the past several decades, a decline that accelerated in the past ten years.

Remember that these ex-generals seized and exercised power in their thirties and forties. They have now spent decades as former leaders. Remember, too, that they made huge sacrifices—as did many other compatriots—to “keep Nigeria one” through the civil war of 1967–1970. It is important to assess the state of the Nigerian state itself: How far have we come? Is Nigeria truly one today?

Does a country exist simply for the sake of existence and mere survival? Or does it exist to thrive—with consistent, measurable progress

toward genuine nationhood, unity of purpose, and citizens who are steadily better off and “flourishing,” measured by GDP per capita rather than the anaemic GDP growth numbers I have called “the Fallacy of Economic Man”?

Babangida, with his sharp strategic mind— and with shrapnel from the scars of battle still lodged in his body—will doubtless be ruminating over these deep questions. Or at least he should. The burden is not his alone.

He belongs to a historical cohort of men who had the rare opportunity to govern and to move the country forward.

IBB was unique as a military ruler in several respects. He catalysed development and governance through deliberate political engineering. He possessed bold, futuristic ideas—such as the two-party system he decreed, one “a little to the left” and the other “a little to the right,” in a country that stood mainly on an ethnic tripod and therefore needed contests for power based on ideas rather than tribes. These ideas shaped events instead of merely reacting to them. From all accounts, he plotted his way to power. Not for him the “Not My Will” scenario—profound as that was. Ibrahim Badamasi Babangida demonstrated the power of human agency and calculated risk-taking as foundational elements of transformative leadership. Had he resisted the internal, turn-by-turn politics of the military and handed over to a democratically elected government in 1993, there would have been no contest over who has been the greatest head of government in Nigeria, civilian or military.

On taking office in 1985 he appointed a stellar cabinet that included weighty minds, intellectuals and professionals: Olu Falae, Olikoye Ransome-Kuti, Chu S.P. Okongwu, Kalu Idika Kalu, Tam David-West, Bolaji Akinyemi, Abubakar Alhaji, Rilwanu Lukman, Bola Ajibola, Gordian Ezekwe, and fine soldiers such as Generals Alani Akinrinade and Ike Nwachukwu. Babangida was a leader who first asked, “Who has the competence and can get this job done?” rather than “Is he Igbo, Yoruba, Hausa or Fulani?” He was confident enough to work with independent-minded intellectuals and empower them to help shape and execute policy. This is often the missing

ingredient when “politics” supplants both leadership and governance. The country turns round and round in, well, political cycles, but real development remains far. IBB co-opted even critics of his regime and of military rule by offering them opportunities to contribute to national progress through “water-no-get-enemy” appointments. Thus the Nobel Laureate Wole Soyinka accepted the inaugural chairmanship of the Federal Road Safety Corps, and the renowned educator Tai Solarin became the first Chairman of the People’s Bank of Nigeria.

Babangida recorded huge achievements in infrastructure. He constructed the Third Mainland Bridge in Lagos and effectively moved Nigeria’s federal capital to Abuja, building Aso Rock Villa, the National Assembly Complex, the ECOWAS Headquarters, the International Conference Centre, and a long list of other projects. He created important new institutions: the Federal Road Safety Corps, the State Security Service, the various national intelligence services, the National Directorate of Employment, and the Directorate of Food, Roads and Rural Infrastructure. He also created eleven new states: Akwa Ibom, Katsina, Abia, Adamawa, Delta, Edo, Enugu, Jigawa, Kebbi, Osun and Taraba.

He launched the controversial Structural Adjustment Programme (SAP), anchored on currency devaluation, trade liberalisation, privatisation of public enterprises, and phased subsidy removal on petroleum products and agricultural fertiliser. While SAP registered some formal successes, the wider view is that it failed to achieve its core objective of creating stable, diversified and sustained macroeconomic growth.

The principal reason was that a massive pivot toward a diversified, export-led industrial base never accompanied the liberalisation of currency and trade. Oil revenues remained the mainstay of the economy. Forty years later, they still are. The SAP was also inevitable because of the economic management failures of earlier regimes. Had Nigeria demonstrated strategic foresight and established a well-endowed sovereign wealth fund during the oil-boom years of the early 1970s, any later liberalisation would have been more measured and the social disruption less severe. In the absence of such a buffer, and with the collapse of oil prices

that left the country with very little foreign reserves, SAP was not an option—it was an imperative.

In foreign policy Babangida was a strong and effective leader who projected Nigeria’s power and influence even amid domestic economic difficulty. He established the ECOWAS Monitoring Group (ECOMOG), which helped stabilize Liberia and Sierra Leone during their civil wars. His administration created the Technical Aid Corps under Foreign Minister Bolaji Akinyemi, later pivoted to “economic diplomacy” under Ike Nwachukwu, and secured the election of Chief Emeka Anyaoku as Secretary-General of the Commonwealth against the former Australian Prime Minister Malcolm Fraser.

I first met General Babangida about twenty years ago in Geneva, where I was living and working as a senior United Nations official. I was introduced to him by his wife and former First Lady, Maryam Babangida (may her soul rest in peace). The resourceful former First Lady, famous for her Better Life for Rural Women Programme, was active in international humanitarian circles at the time, and I advised her informally on her engagements. On being introduced to the former Head of State I asked respectfully, “So what keeps you busy these days, Sir?” “Oh, I just follow this woman around,” he replied, pointing to his wife with a smile. I found the response disarming and could not help laughing. He was pleased to learn that I was from Nnewi. His face lit up: “That’s the same hometown as my very good friend Chu Okongwu.” Thus began a longstanding relationship from which I have learned much.

A couple of years ago, after I had just finished a CNN interview, the retired general called and asked, “Kingsley, how are you?” “Your Excellency,” I replied, “bodi de inside cloth, Sir.” It was his turn to laugh—hard.

I wish General Ibrahim Babangida, Elder Statesman, many more years of healthy life.

•Prof. Kingsley Moghalu is President of the Institute for Governance and Economic Transformation (IGET Academy) and CEO of Sogato Strategies LLC, a Washington DCbased geopolitical risk and global strategy advisory firm.

Price: N400

MONDAY, AUGUST 17, 2026 • T H I S D AY BACK PAGE LEAD PHOTOGRAPH

UMOH'S CONSTITUENCY EMPOWERMENT PROGRAMME...

L-R: Wife of the Senate President, Mrs. Unoma Godswill Akpabio; representative of the Senate President and member representing Abak/Etim-Ekpo/Ika Federal Constituency, Clement Jimbo; Secretary to the State Government (SSG), Enobong Uwah; and member representing Ikot Ekpene/Essien Udim/Obot Akara Federal Constituency, Dr. Patrick Umoh, during the empowerment programme organised by Dr. Umoh for his constituents at the Ikot Ekpene Township Stadium, yesterday

MAHMUDJEGA VIEW FROM THE GALLERY

One Dance Step, One Vote

T

his weekend was the first time in Nigeria’s history that ability to dance is suspected to have been a major factor in an election victory. Osun State Governor Ademola Nurudeen Jackson Adeleke is already recognized to possess one of this country’s best dancing steps, with adroit feet movements, sharp body wiggles, smartly flailing arms and exquisite sideways throwing of head, whether in suit or in flowing native agbada, always with a forked cap to match.

All election candidates in Nigeria must at some rallies undertake dance steps in response to singing by supporters and drumming by praise singers.

Some do it very well; some do it clumsily; while

Almost no one thought of Adeleke as a great dancer; he has one of the bulkiest frames of Nigerian governors, so the bet was on more trim governors and ministers to shine as dancers, but Adeleke topped them all. It was even calculated that the number of votes cast for him in weekend’s election roughly equaled the number of dance steps he did since 2022, when he was elected governor. That is, one dance step, one vote.

On Sunday, August 16, INEC’s Returning Professor, Professor Joshua Ogunwole, declared Gov Adeleke Adeleke, candidate of Accord Party, winner a few others are excused because they sport of the previous day’s Osun State off-season an unfriendly mien, disguised as seriousness. governorship election having secured 511,067

DAVIDMARK

votes. After a see-saw race all afternoon and evening, he defeated the All Progressives Congress (APC) candidate Bola Oyebamiji who polled 444,815 votes. Coming in a distant third was African Democratic Congress (ADC) candidate Dr. Najeem Salaam, who got only 17,180 votes, despite the support of former state governor and ADC national secretary Rauf Aregbesola.

What role did Adeleke’s adroit dancing play in his victory? We would never know for sure, since we do not have reliable exit polls in this country, where voters will tell us exactly how and why they voted the way they did.

Continued on page 47

GUEST COLUMNIST

Babangida @85: Boss, Soldier and Statesman

A

t 85, General Ibrahim Badamasi Babangida is not merely celebrating another birthday.

He is celebrating a remarkable journey through the history of Nigeria, a journey in which he has played an extraordinary and unforgettable role.

For me, however, General Babangida is much more than the soldier, military leader and statesman known to history.

He is my boss, a mentor and, most importantly, a man whose family has become part of mine.

Our relationship goes back many decades

and was forged in the most demanding circumstances of national service. I had the rare privilege of serving under him in different capacities, first as Military Governor of Niger State, his home state; later as Minister of Communications; and subsequently as a member of the Armed

Forces Ruling Council (AFRC).

Those were not merely official assignments. They were years of shared responsibility, difficult decisions, national

Continued on page 46

KINGSLEYMOGHALU GUEST COLUMNIST

Ibrahim Babangida at 85: A Conversation with History

I

was very surprised,” my friend said over the phone, “to see your endorsement of General Ibrahim Babangida’s autobiography—and on the front cover, no less.”

“And why are you surprised?” I asked.

“I thought you were a democrat,” he replied heatedly. “This man was a military dictator!”

He then launched into the June 12 debacle: the annulment of the 1993 presidential election results and the truncation of the military government’s

own transition programme.

I smiled. “Babangida led Nigeria for several years at a time when military rule was the fashion across Africa and democracy the exception. He must be judged, as must all the uniformed leaders of that era, in that historical context. More importantly, if you have read the book you would have seen that IBB expressed deep regret for truncating the democratic transition in 1993 and accepted full

responsibility. Looking backwards, he wrote, he was wrong and should have acted differently.”

Babangida’s memoir is important for our country’s historical accounting, and I was honored to respond positively to the former military leader’s invitation to comment on it.

Keen historians and students of history will surely appreciate that within the span of 18 months, three former military rulers including IBB have published their memoirs. Memoirs,

like leadership, are not necessarily popularity contests. They are recollections plus perspective.

IBB used the opportunity of his own memoir to complete the historical accounting for his part of our national story with finality and clarity. It was a good thing that he confronted the challenge head-on. Time is a great healer of wounds and a master contractor in supplying

Continued on page 47

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