PDP: Govs Abandoning Platform That Brought Them to Power Will Soon Regret
Says they’re defecting because of greed, selfishness and covetousness Boasts it's unfazed, focused on Ibadan convention Insists the people, not governors make parties
Chuks Okocha in Abuja Peoples Democratic Party (PDP), yesterday, said the governors and others who were abandoning the platform that brought them to
power would soon regret their actions. PDP accused governors
defecting from its fold to the ruling All Progressives Congress (APC) of greed, selfishness, and
covetousness, insisting that Nigerians would ultimately decide their fate in the 2027 general election. The opposition party
Ned Nwoko Accuses Wife, Regina Daniels, of Drug-fuelled Violence...
Transfers represent over 11.4% of Nigeria's N55 trillion 2025 budget NNPC submits report on alleged $42.3bn discrepancies Under-remittance document covers 2011 to 2017
Emmanuel Addeh in Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) made a total payment of N6.215 trillion to the Federation Account between January and September 2025, consolidating its position as one of the federal government’s biggest revenue contributors this year.
The figure, presented in the commission’s latest revenue report to the Federation Account Allocation Committee (FAAC) held in Abuja on October 16, 2025, reflected the cumulative transfers to the Central Bank of Nigeria (CBN) during the
Continued on page 5
L–R: Globacom’s representative, Tochukwu Okechukwu; the Obi of Onitsha, His Royal Majesty Nnaemeka Alfred Achebe; and member, Ofala Organising Committee, Chief I. K. Osakwe, at the Globacomsponsored Ofala Festival in Onitsha on Saturday
Georgieva; Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso; and Minister of state for Finance, Dr. Doris Uzoka-Anite, at the International Monetary and Financial Committee (IMFC) meeting during the 2025 Annual Meetings of the International Monetary Fund and the World Bank, in Washington
Global Renewable Energy Generation Surpasses Coal for First Time in History
Record solar expansion drives world’s shift away from fossil fuels in H1
Emmanuel Addeh in Abuja
In a historic development, the world’s wind and solar farms have generated more electricity than coal plants, marking a turning point for the global power system, a report by Climate Thinktank, Ember has found.
The report showed that in the first six months of 2025, renewable energy outpaced the world’s growing appetite for electricity, leading to a decline in coal and gas use, with the world generating almost a third more solar power in the first
half of the year compared with the same period in 2024.
This meant that it met 83 per cent of the global increase in electricity demand as wind power grew by over 7 per cent, allowing renewables to displace fossil fuels for the first time.
China and India were largely responsible for the surge in renewables, according to the Ember report, in contrast with the US and Europe, which relied more heavily on fossil fuels.
Although still negligible compared to those countries,
Nigeria’s solar and renewable energy landscape has grown steadily over the past decade, becoming a major focus for bridging the country’s power deficit.
According to available data, Nigeria receives an average solar irradiation of 4.5–6.5
kWh/m² per day, among the highest in West Africa, making it ideal for off-grid and mini-grid systems.
Okonjo-Iweala: US, China Must De-escalate Trade War or Risk Long-term Global Economic Hit
Says decoupling may reduce world GDP by 7% in long-term Urges
Emmanuel Addeh in Abuja
The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has urged the U.S. and China to de-escalate trade tensions, warning that a decoupling by the world's two largest economies could reduce global economic output by 7 per cent over the longer term.
Okonjo-Iweala told Reuters in an interview reported at the weekend that the global trade body was extremely concerned about the latest spike in U.S.-China trade tensions and had spoken with officials from both countries
period under consideration.
According to the report seen by THISDAY, the amount transferred in September 2025 alone was N741.99 billion, representing 61.59 per cent of the commission’s approved monthly revenue budget of N1.204 trillion.
However, the figure fell short by N462.81 billion, or 38.41 per cent, mainly due to fluctuations in crude oil prices and shortfalls in national production during the month.
When compared with August 2025, September’s performance showed a marginal decline of just 0.43 per cent, as total collections dropped by N3.22 billion from the N745.20 billion recorded the previous month.
Last year, the NUPRC reported
maintained that it was not governors, who made a political party, but the people.
Since the 2023 general election, four governors had left PDP — Sheriff Oborevwori of Delta State, Umo Eno of Akwa Ibom State, Peter Mbah of Enugu State, and Douye Diri of Bayelsa State.
While the first three left immediately for APC, Diri who recently resigned his membership of PDP, had yet to announce the party he was going to.
PDP’s 2023 presidential candidate, former Vice President Atiku Abubakar, and his running mate, Ifeanyi Okowa, had withdrawn their memberships, along with some key allies.
Speaking in an interview on Arise Television, PDP Deputy National Publicity Secretary,
to encourage more dialogue.
"We're obviously worried at any escalation in the U.S.-China tensions," she said, noting the two sides had backed away from their first tariff escalation earlier this year, averting more serious consequences and she hoped that would happen again.
"Similarly, we are really hoping that the two sides will come together and they will de-escalate, because any U.S.-China tensions and U.S.-China decoupling (would) have implications not just for the two biggest economies in the world, but also for the rest of the world," she said.
that it generated a revenue of N12.25 trillion, representing a 282 per cent increase from the N4.34 trillion generated in 2023. Also, the upstream regulator said it generated N3.7 trillion in 2022, much lower than the other succeeding years.
The total sum remitted to FAAC by the NUPRC so far was about 11.4 per cent of Nigeria’s 2025 national budget of roughly N55 trillion, forming a critical portion of the country's fiscal base and helping the government implement infrastructure plans, fund social programmes, and support economic growth under the budget.
Despite the monthly dip, the NUPRC’s cumulative record for the nine months under review revealed a robust revenue stream,
Ibrahim Abdullahi, said the wave of defections was motivated by “greed, avarice, and selfishness”.
Abdullahi said, “To the best of my knowledge and that of most Nigerians, you cannot find a compelling reason for a governor, especially one on a second term, like in Bayelsa, to abandon the party that produced him. You can’t find any justifiable reason other than covetousness, greed, and avarice.”
He insisted that PDP remained strong, despite its challenges.
Abdullahi stated, “Our party is in good stead. We have internal issues like every other political party, but we have addressed the major ones that could have afflicted our ability to serve as a credible opposition as we journey towards 2027.”
Both sides, Okonjo-Iweala said, understand the importance of good relations, given the implications for the global economy and other countries. Any kind of decoupling that divides the world into two trading blocs would result in "significant global Gross Domestic Product (GDP) losses in the longer term - up to 7 per cent global GDP losses and double-digit welfare losses for developing countries," she said.
The WTO last week sharply lowered its 2026 forecast for global merchandise trade volume growth to 0.5 per cent from its previous
particularly when receivables and pending royalty settlements are included.
The commission reported that its total performance from January to September stood at N7.554 trillion, encompassing both actual collections and outstanding receivables from the Nigerian National Petroleum Company Limited (NNPC) Joint Ventures (JVs), Production Sharing Contracts (PSCs), and the long-running Project Gazelle initiative.
The breakdown showed that of the N7.55 trillion total performance, N758.99 billion came from NNPC Ltd’s JV and PSC royalty receivables for the period between January and August 2025, while N730.25 billion originated from Project
He said the party was unbothered by the defections, but focused on its forthcoming national convention in Ibadan, which he said would “change the face of the party” and reposition it as a credible alternative ahead of 2027.
“These few elements are driven by self-greed and the coercion and temptation of the ruling party,” Abdullahi said.
He added, “Other than that, there’s no reason for their action. To the PDP, it’s good riddance to bad rubbish.”
He said the departure of such figures offered the party an opportunity to “weed out terrible elements” ahead of the convention.
The national publicity secretary
WTO members to use crisis to undertake reforms
estimate of 1.8 per cent growth in August, citing expected delayed impacts from the U.S. President Donald Trump's tariffs. It raised its forecast for global goods trade growth to 2.4 per cent for 2025, Reuters said.
Those forecasts were issued before the relative calm of recent months was shattered last week when China imposed new export controls on rare earth metals needed for the technology sector, and Trump responded by imposing new 100 per cent duties on Chinese imports starting next month.
Okonjo-Iweala said she told
Gazelle receipts covering November 2024.
The commission also highlighted that cumulative NNPC Ltd JV royalty receivables spanning October 2022 to August 2025 have reached N6.322 trillion, reflecting both the depth of unremitted obligations and the scale of upstream operations under government oversight.
In its remarks to FAAC, NUPRC noted that the September performance was largely tied to the volatility in international crude prices and production curtailments arising from field maintenance and disruptions in some producing areas.
On recoveries, the report confirmed that the commission received $3.39 million in
said, “Many Nigerians have been asking what could have prompted these defections because the PDP remains in good stead. There’s no rationale other than selfishness and greed.”
He insisted that the defection of a few governors did not define the party’s fate, saying, “It’s not about PDP or APC anymore; it’s APC versus Nigerians. Let them do whatever they can — we’ve seen worse temptations than this.”
Abdullahi dismissed claims by Mbah that the South-east had been marginalised within PDP, despite supporting the party for 27 years.
He said, “This is the same party that produced five Senate Presidents from the South-east. Each of the states in the region
officials from the Group of 20 major economies on Wednesday evening that there could be no global financial stability without global trade stability.
"Pressures on the system have not eased and may intensify," she told the group. "The full effects of recent tariffs are still to be felt. Trade diversion is fueling protectionist sentiment elsewhere. And escalating tensions between the United States and China remain a serious risk."
Okonjo-Iweala said most WTO members had refrained from joining in the tariff war, and 72 per cent of global trade
September 2025 from previously outstanding obligations by companies operating under PSCs, Direct Sale Direct Purchase (DSDP) arrangements, and Marine Crude Allocation (MCA) liftings. The recovery formed part of a larger outstanding balance of $1.48 billion, of which about $1.476 billion remains uncollected.
NUPRC said it was still awaiting the conclusion of reconciliation work by the Alignment Committee set up to resolve payment discrepancies between NNPC and the Federation, following meetings that took place in July 2025.
“The commission collected a total sum of N741,986,951,078.10 in September 2025, given the percentage performance of 61.59
produced a Senate President at one point. They also produced ministers in very notable ministries.
“There was a time the PDP empowered the South-east to the point where names, like Okonjo-Iweala emerged globally. So, what exactly is he talking about?”
Abdullahi accused Mbah of failing to participate in party activities.
He said, “For four years that I have been in the PDP, I haven’t seen Peter Mbah attend any NEC or major party meeting in Abuja.
“If you claim the PDP has not provided leadership, as a governor you are the custodian of that leadership in your state.
was still following WTO rules despite a series of bilateral trade deals signed by the U.S. with other countries. The rules-based multilateral system was proving resilient despite the most severe policy shock in eight decades, she said. But Okonjo-Iweala said organisations like the WTO should use the current multilateralism crisis to undertake long-sought reforms and make the global trade body more flexible and efficient, and able to take advantage of new trade opportunities in digital trade, services and green trade.
per cent. In comparison with the approved monthly budget of N1,204,801,984,708.98, a negative variance of N462,815,033,630.88 equivalent to 38.41 per cent was recorded. This performance was due to fluctuation in the crude oil price and shortfall in crude oil production.
“Total collection decreased by N3,216,634,047.54 equivalent to 0.43 per cent when compared with N745,203,585,125.64 collected in August 2025. The amount transferred to the Federation Account in September 2025 was N741, 986,951,078.10 while the total amount transferred to the Federation Account by CBN from January to September
Continued on page 34
So, if leadership is lacking, it’s an admission of failure on your part.”
Abdullahi also took a swipe at former Enugu State Governor Ifeanyi Ugwuanyi, accusing him of diminishing his political stature.
He said, “It’s disappointing that a former governor and former member of the National Assembly has reduced himself to a personal assistant, literally carrying bags for a sitting minister. That’s shameless.” Equally speaking, South-south Zonal Caretaker Chairman of PDP, Elder Emmanuel Ogidi, alleged that the defecting governors were being coerced by APC. Ogidi said both governors and party members were under intense pressure to abandon the PDP.
Lokpobiri
DIGITAL ASSET MARKETS INTERNATIONAL ROADSHOW IN ZUG, SWITZERLAND...
Shettima Hails Fintechs' Contributions to Economy, Nation's Digital Footprint in Africa
Olofin: Credit affordability, technology access will unleash potential of informal economy
James Emejo in Abuja
Vice President Kashim Shettima commended the rapid growth of Financial Technology (Fintech) companies, and their contribution to economic growth.
Shettima said the companies had also helped to expand the country's footprint in Africa’s digital economy.
The vice president specifically hailed Moniepoint’s milestone of serving over 10 million businesses and individuals, affirming the firm's leadership status in African financial technology.
He spoke at the official launch of the 2025 Edition of the Nigerian Informal Economy Report, which was published by Moniepoint.
The unveiling also commemorated 10 years of the company's economic impact and service to
institutions, businesses, and Nigerians.
Represented by Ministry of Industry, Trade and Investment, Dr. Jumoke Oduwole, the vice president stated that the fintech ecosystem reflected growing confidence in Nigerian innovation, both on the
Nicky Okoye Hosts Digital Assets Roadshows in Switzerland
Emmanuel Addeh in Abuja Founder and President of the Global Investment Advisory Community, Dr Nicky Okoye, has organised and hosted a world-class digital asset markets international retreat and roadshow in Zug (Europe’s Crypto Valley), Zurich and Geneva in Switzerland.
The Global Investment Advisory Community is a growing community of local
and global investment banks, asset management firms, Fintech, Money Deposit Banks, among others.
The digital asset markets international retreat and roadshow, which was hosted in the last week of September 2025, a statement said, was sponsored and supported by Nigeria’s capital market apex regulator, the Securities and Exchange Commission (SEC).
According to the
statement, the Nigerian delegation of executives was led to Switzerland by the Chairman of the Nigerian Senate Committee on Capital Markets, Senator Osita Izunaso. Other sponsors and corporate supporters included Meristem Group, Oando Plc, Asset Management Company of Nigeria (AMCON), CardinalStone Partners, Futureview, among others.
The strategic sessions and
engagements included, it said, sessions on deploying world-class blockchain technology for Nigeria, anchored by banking grade blockchain technology companies.
Other strategic sessions included engagement with Crypto native institutional investors that are currently building global digital asset allocation portfolios
Continued on page 35
Housing: FG Begins Personnel Audit after Retirement of 1,600 Staff in 18 Months
The federal government has begun a staff audit at the Ministry of Housing and Urban Development to enhance effectiveness, after over 1,600 retired in the last one and a half years in the ministry.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, who flagged off the Personnel Audit and Skills Gap Analysis
(PAGSA) Project for the Ministry, stressed that the inadequacy of professionals was hindering project supervision.
A statement by the Director Information and Public Relations, Badamasi Haiba, stated at the weekend that PASGA is an important part of the Federal Civil Service Strategy and Implementation Plan (FCSSIP 25), being anchored by the Office of Head of Civil
Service of the Federation.
It characterised it as a verification exercise that is aimed at verifying and updating personnel records, identifying skills and capacity gaps, as well as supporting workforce planning and reforms, of all civil servants of the federation.
Making his remarks, Belgore highlighted the primary mandate of the ministry in providing affordable housing for
Nigerians, acknowledging the hard work put into achieving the mandate by the staff of the ministry.
He informed that the ministry was grossly understaffed, having lost over 1,600 staff members due to retirement in the last year and a half, stressing that this has led to missing skills and gaps opening up at the Ministry, including state field offices.
continent and globally, buoyed by cross-border investments.
He reaffirmed government's support for the Micro, Small, and Medium-sized Enterprises (MSMEs), adding that the sector enjoys policy priorities.
Shettima said MSMEs constituted over 96 per cent of Nigerian businesses, contributed about 50 per cent to the country's GDP, and employed over 84 per cent of the workforce.
He said the informal economy remained central to Nigeria's story of resilience and enterprise.
According to him, "From
market traders and artisans to small service providers and young entrepreneurs, millions of Nigerians sustain livelihoods and drive commerce in ways that often remain unseen.
"This report provides an important window into their realities-the opportunities they create, the challenges they navigate, and the scale of their contribution to national development.
"By documenting their experiences with data and context, it deepens our understanding of the sector and offers a stronger foundation for inclusive policymaking."
Tinubu Hails Ex-PUNCH Managing Director, Osinubi at 70
President Bola Tinubu has congratulated the former Managing Director and Editor-in-Chief of PUNCH Nigeria Limited, Sir Ademola Osinubi, on his 70th birthday.
In a tribute personally signed by the President on Sunday, Tinubu described Osinubi as a model of integrity, resilience, and excellence in Nigerian journalism.
He said Osinubi’s life and career exemplified hard work and dedication to democratic ideals, noting that his leadership helped shape PUNCH into one of Nigeria’s most respected newspapers.
“Joining The PUNCH in 1976, you rose through the ranks from the bottom to the peak by hard work, resilience, discipline, and dedication to duty.
“You are proof that success is attainable with purpose and
vision,” the President said.
Tinubu praised Osinubi’s 27-year tenure at the helm of PUNCH Nigeria Limited, during which he steered the newspaper “through periods of innovation and the challenges of military repression and closures,” adding that his management left an “indelible mark” on Nigeria’s media landscape. The President commended Osinubi’s “fidelity to the ethics of the journalism profession and his efforts in the struggle for our democracy,” describing him as a mentor who guided generations of journalists “on the path of principled journalism.”
He added, “You have etched a fine print of excellence on the tome of journalism, and I thank you for your consistent pursuit of our nation’s progress.”
L–R: Dr. Martin Hess, Chief Economist, Swiss Bankers Association; Dr. Nicky Okoye, Founder and President, Global Investment Advisory Community; and Axel Lehmann, Past Chairman, Credit Suisse, at the Digital Asset Markets International Retreat and Roadshow in Zug, Switzerland (Europe’s Crypto Valley), organised by the Global Investment Advisory Community and sponsored by SEC Nigeria, MERISTEM Group, Oando Plc, CardinalStone Partners, Futureview, and AMCON… recently
GOVERNORS GRACE MUTFWANG SON’S WEDDING IN JOS...
FIRS: Multiple Taxations Removed at Federal Level, CIT, CGT Now Merged
Dike Onwuamaeze
The Federal Inland Revenue Service (FIRS) has clarified that multiple taxations at the federal level would be effectively put to rest once the new tax laws become operational on January 1, 2026.
FIRS also said the federal government is engaging sub-national governments with the hope of coming up with instruments that would constrain state and local governments from indiscriminate imposition of taxes on businesses.
It made these clarifications to allay the fears of the organised private sector (OPS) that multiple taxations might persist
under the new tax regime that will become effective from 2026.
The Coordinating Director, Compliance and Enforcement, FIRS, Mr. Matthew Gbonjubola, who addressed members of American Business Council (ABC) in Lagos during the weekend on "Navigating Nigeria's New Tax Era" told THISDAY there is nothing like Capital Gain Tax (CGT) because it has been harmonised with Company Income Tax (CIT) as one tax on a company's profit.
Gbonjubola said: "Nigeria is a federation with three tiers of governments that are constitutionally empowered to levy taxes.
"So, literally, the new tax regime may not stop multiple
UN Says Data Critical to Advancing Sustainable Development
The United Nations has restated the importance of data in advancing sustainable development for all, emphasising that citizens everywhere deserve trustworthy information to inform public policy and strengthen accountability.
Secretary General of the UN, António Guterres, stated this in a message to mark World Statistics Day 2025.
He said: “This year’s observance reaffirms our commitment to the fundamental principles of official statistics: Impartiality, professionalism, and commitment to scientific principles and professional ethics.
taxations. But it has stopped it at the federal level.
"The next level is to engage with sub-national governments, which I know government is actively doing to have further instruments that will constrain governments at the sub-national levels not to impose taxes indiscriminately to ensure fewer number of taxes so that businesses are not encumbered."
He also said that what has been described as sharp increase from 10 per cent to 30 per cent on CGT is a misconception because there is no longer CGT under the new tax laws.
"All gains that are business gains are business gains. All gains that are personal gains are personal gains.
"The new law does not differentiate between capital and personal profits. It just put them together so that businesses
will pay one tax for the two."
He also said that the removal of the exemption on foreign gain aligned with new rules on global income tax.
According to him, "Nigeria is poor and is looking for revenue. So, why should we allow money we can collect revenue from to be taken to another country?
The FIRS director also debunked the claim that the new tax regime would increase the burden of compliance on businesses.
"I think it is the opposite. From my own vantage position I will say that the new law has significantly reduced the current tax burden on businesses and has not put any new burden on them.
"Under the old laws a business will file different taxes on different days.
"But these new laws have consolidated their filing to probably just two: their annual return and all other returns they should file like PAYE, VAT, withholding tax, etc., which can be done online.
"So, the issue of compliance burden has been significantly reduced under the new law," he said.
He also said that the law has fixed its commencement date on January 1, 2026, which cannot be postponed to accommodate the request by some members of the OPS because businesses participated in putting the new tax laws together and were aware of what that is coming.
Speaking in the same vein, Partner, Tax and Regulatory Services, Deloitte, Mr. Chijioke Odo, said that the new tax laws have reduced the numbers
of agencies that would be collecting taxes at the federal level to one, which is the Nigeria Revenue Service (NRS). Odo said: "Only the NRS will assess businesses for taxation at the federal level, which will reduce the issue of multiple taxations.
"Today, we have several development levies businesses are meant to pay but the new law has consolidated them at 4.0 per cent single tax payment."
He also said that some of the things that have been introduced under the new tax laws like the removal of exemption on foreign gains are neither novel nor peculiar to Nigeria and should not impact negatively on foreign investments because foreign companies are already aware of them.
Guterres explained that World Statistics Day is observed once every five years to spotlight the vital role of statistics in addressing the challenges of the current times, highlighting that the Sustainable Development Goals (SDGs) have helped transform statistical systems and increase the availability of data.
“In times of crisis, such as the COVID-19 pandemic, statistical systems proved their resilience, delivering the data that guided life-saving decisions as well as social and economic recovery.
As we confront increasingly interconnected global challenges – from climate change to rising inequalities – timely, accurate, disaggregated, and independent data has never been more essential ” he stated.
“Citizens everywhere deserve trustworthy data to inform public policy and strengthen accountability. Let us use this day to champion the power of data in advancing sustainable development for all.”
Sanwo-Olu to Host Global Summit on Blue Economy, Coastal Resilience Ahead Cop30
As state leads Africa's climate front
Lagos State Governor, Babajide Sanwo-Olu, Sunday reaffirmed the state’s commitment to advancing sustainable growth through innovation and investment in resilience as it hosts the 2025 International Climate Change Summit.
The 2025 summit, with the theme, “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation,” holds at the Lagos Continental Hotel between November 6 and 7. It will attract global leaders, investors, climate scientists, and policy makers.
A statement signed by the Commissioner for the Environment and Water
Resources, Tokunbo Wahab, quoted the governor as stating that Lagos State continued to demonstrate leadership in subnational climate action and developing practical mechanisms for city-level climate finance.
The governor reiterated that the state had also been developing blue bonds, and nature-based coastal protection projects that were shaping Africa’s next decade of sustainable urban development.
He said, "As Africa’s fastest-growing coastal city, Lagos stands at the frontline of both climate risk and innovation. Her goal is to unlock sustainable financing
that protects the people, builds resilience, and drive economic growth through the power of the blue economy.”
Setting the tone for the conference, Wahab said,
“The Lagos International Climate Change Summit 2025 is more than a conference, it is a declaration that African cities can finance their own future.
“We invite global leaders, investors, and innovators to join Lagos as we redefine what coastal resilience looks like for the Global South.”
The event would accelerate action and investment in Africa’s coastal and ocean economies ahead of the 2025 United Nations Climate
Change Conference (COP30). The 2025 summit, the 11th in the series, will serve as a strategic engagement platform for African and global stakeholders to align priorities, deepen partnerships, and strengthen Africa’s voice in global climate negotiations.
It will also spotlight blue economy financing as a key frontier for climate adaptation, innovation, and job creation in Africa, just as discussions will centre on unlocking investment for ocean energy, sustainable fisheries, mangrove restoration, and coastal infrastructure through green and blended finance instruments.
Oyo State Governor, Seyi Makinde; Osun State Governor, Senator Ademola Adeleke; former Governor of Benue State, Samuel Ortom; and Plateau State Governor, Barr. Caleb Mutfwang, during the wedding ceremony of Mutfwang’s son in Jos
Linus Aleke in Abuja
2ND EDITION OF THE INTERNATIONAL FORUM & EXHIBITION ON MOBILITY, TRANSPORT AND LOGISTICS...
SERAP to Akpabio, Abbas: Account for Missing N18.6bn for NASS Commission Office Complex
Chuks Okocha in Abuja
Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, to account for an allegedly missing N18.6 billion meant for the construction of the National Assembly Commission Office Complex, as documented in the latest 2022 annual report by the Auditor-General of the Federation.
SERAP urged the two leaders of the National Assembly to disclose the name of the alleged “fictitious construction company” that reportedly collected N18.6 billion for the construction of the National Assembly Commission Office Complex, including
the names and details of the directors, shareholders, and the company’s address.
It asked Akpabio and Abbas to explain the failure to follow the Procurement Act, including the failure to carry out any needs assessment before the award of the contract, and advertise the bidding, issue a contract agreement, issue bidders’ quotations before the construction company was paid N18.6 billion. The rights group charged Akpabio and Abbas to explain the rationale for the “inflation of the contract by N6.9 billion for the conversion of the roof garden to office space”, and why no approval was obtained for the upward review of the contract, and to disclose the implementation status of the
Tax Reform a Collective Responsibility, Says Presidential Committee Chairman, Oyedele
Tax reform is a collective responsibility that requires commitment and cooperation from all stakeholders, Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has said.
Oyedele made this assertion at the weekend during the 2025 Annual Corporate Governance Conference organised by the Society for Corporate Governance Nigeria (SCGN) at the Oriental Hotel, Victoria Island, Lagos.
The conference, themed "Strengthening Ethical Governance in a Disrupted World: Reflection of Governance Journey for A Sustainable Future," brought together industry experts and thought leaders to discuss the latest trends and best practices
in corporate governance.
"What is the reality of the conflict that is now occurring across the public and private sector? Yeah, I think the reality is that without governance, without good governance, there can be no sustainability," Oyedele stated.
He added that the new tax reform laws taking effect from January next year aim to raise national awareness and education on tax matters.
"We must be not just willing; we must be committed to doing the right thing even when it's not convenient. And that's how nations are built," Oyedele emphasised.
Oyedele also highlighted the importance of addressing the low level of tax awareness and education in Nigeria, particularly among young people and the elite.
project.
The allegations were documented in the latest 2022 annual report published by the Auditor-General of the Federation on September 9.
In the letter dated October 18, 2025 and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said, “These grim allegations by the Auditor-General suggest grave violations of the public trust, the Nigerian Constitution 1999 (as amended), and national
and international anticorruption obligations.
“The National Assembly can only effectively perform its oversight and anti-corruption roles if it can demonstrate exemplary leadership to probe the allegations of corruption and mismanagement involving the NASS commission.
“The National Assembly ought to live up to its constitutional responsibilities by upholding and defending the basic principles of transparency,
accountability and the rule of law.
“Addressing the allegations would improve public confidence and trust in the ability of the National Assembly to exercise their constitutional and oversight responsibilities, and to adhere to the highest standards of integrity, transparency and accountability in the management of public funds.”
SERAP said, “It would also show that the National
Assembly is acting in the best interest of the people, and not for personal interest.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you, the National Assembly and the National Assembly Service Commission to comply with our request in the public interest.”
UNICEF, US Donors Canvass More Collaboration, Investment in Eradication of Tropical Diseases
Yinka Kolawole in Osogbo
United Nations Children's Fund (UNICEF), at the weekend sought more collaboration and investment in the eradication of Neglected Tropical Diseases (NTDs) in Nigeria.
UNICEF Nigeria Country Representative, Ms. Wafaa Saeed, made the appeal during a town hall meeting to assess the impact of its support to interrupt NTDs in Faji town, Odo-Otin Local Government Area of Osun State.
Saeed said NTDs heavily burdened the wellbeing of women, children, and the community, affecting their
access to schooling and healthcare, hence, the need for more investment to make a difference.
UNICEF and United States National Committee (US NATCOM) for UNICEF also commended Faji community for its remarkable success in eliminating NTDs and attaining open defecation free status.
The town hall meeting was organised by Osun State Ministry of Health, in collaboration with Rural Water and Environmental Sanitation Agency (RUWESA), with support from UNICEF.
The event formed part of the assessment visit of US NATCOM donors to
communities implementing the NTD-WASH integration programme in Osun State.
Saeed, who described Faji as a model of community-led public health achievement, said the community had successfully interrupted the transmission of Onchocerciasis and Lymphatic Filariasis through strong collaboration between community members, health workers and local authorities.
She stated, “Faji demonstrates that neglected tropical diseases are preventable and treatable when communities unite with their leaders and health workers, adding that sustainability is also key, which
is why continued investment in hygiene through toilets and hand washing is so important.”
President and Chief Executive Officer of UNICEF USA, Mr. Michael Nyenhius, said the visit provided an opportunity for donors to witness the impact of their support.
Nyenhius said, “It’s exciting to see how your efforts are transforming lives. From community leaders to health workers and volunteers, everyone is committed to building stronger, healthy communities. I’ll take back these stories to inspire my colleagues and donors in the United States.”
Glo Delivers Car, Other Prizes to Subscribers at Ofala
Globacom on Saturday drove home its strong position as Nigeria's biggest supporter of culture as it registered another superlative showing at this year's edition of Ofala Festival.
Held at the Ime Obi, Onitsha, this year's festival featured the Iru Ofala on Friday and the Azu Ofala on Saturday.
The two are the major
ceremonies that make up the grand Ofala Festival, a time-honoured tradition of the people of Onitsha.
The Iru Ofala was Obi’s first public appearance after spending weeks in spiritual retreat and communion with the ancestors, in propitiation for the good of the land.
The Imperial Majesty's appearance in his rich
traditional attire and dance around the Ime Obi was significant and symbolic of his readiness to lead his people into a new year of prosperity.
The Obi later sat resplendent as chiefs, titled men, and subjects paid homage to their king. Other top public figures also paid homage to the Obi at the event.
They included the Minister
of Art, Culture, Tourism and Creative Economy, Hannatu Musawa; the Deputy Speaker of the House of Representatives, Hon Benjamin Kalu; former Deputy Speaker, House of Representatives, Emeka Ihedioha; former Governor of Anambra State, Mr Peter Obi; Director General, National Council for Arts and Culture, Obi Asika, and several others.
Mary Nnah
L–R: Corps Marshal, Federal Road Safety Corps, Shehu Mohammed; Director General, National Road Safety Agency (NARSA), Kingdom of Morocco, Benacer Boulaajoul; and His Excellency Mr. Abdessamad Kayouh, Minister of Transport and Logistics, Morocco, at the 2nd Edition of the International Forum & Exhibition on Mobility, Transport and Logistics, Logittere 2025, held in Casablanca
Email: deji.elumoye@thisdaylive.com 08033025611
As Mbah Moves Enugu’s PDP Structure to APC
Deji Elumoye writes about issues surrounding last week’s defection of Governor Peter Mbah of Enugu State alongside his Commissioners and aides from the People’s Democratic Party to the ruling all Progressives Congress.
Last Tuesday, the coal city of Enugu was in a total lock down.
The entire city played host to the high and mighty in the nation’s political landscape as Governor Peter Mbah as well as his Commissioners and aides formally defected to the ruling All Progressives Congres. A day earlier, Mbah, who was elected Governor in 2023 on the platform of the People’s Democratic Party, had held a marathon meeting with members of his political family in Enugu State where he informed them of the need for his political structure to be integrated into the politics at the centre. There and then, he told all present that they are all moving en masse to the All Progressives Congress. At the meeting, flags and souvenirs of the APC were distributed to all in preparation for the formal defection the following day.
Before Mbah’s defection last week, the South East zone of the People’s Democratic Party of which the Enugu State Governor was a major stakeholder had complained on several occasions about the way the zone was being treated by the party at the centre.
Specifically in May, 2025, the South East told the PDP that members may have to review their future membership of the party should the party refuse to ratify Sunday UdehOkoye as the National Secretary of the PDP.
Former Senate President, Adolphus Wabara, had articulated the position of the South East saying: “We hope that this time around, the position of the South East PDP regarding the Office of the National Secretary is accorded the honour and immediacy it deserves. This would bring to a closure the needless lingering dispute over the matter.
“However, in the event that our position is not promptly implemented by the party, the South East PDP, as a family, will be compelled to reconsider our relationship with the PDP going forward.”
Wabara said it was in order to review the region’s relationship with the party should what he described as trampling on the zone by the party persist.
According to him: “We have been trampled
upon, not taken seriously. If such a position were vacant in the Southsouth, it would not be like this. And now, it came to us. I mean, the usual thing is to play politics with the Igbo man. Yes, we may have to reconsider our stand as far as the party is concerned.”
Governor Mbah alluded to the position of the South-East in his state-wide speech on the morning of Tuesday, October 14, 2025 announcing his defection to the APC.
He said: “Today, after a long reflection, we have made the decision to leave the PDP and join the All Progressives Congress.
“This is no whimsical decision. It’s a collective move by the political family in Enugu State, comprising members of the National Assembly, members of the State House of Assembly, the State Executive Council, all the Local Government Chairmen and Councillors, all political appointees and over 80% of party executives.
“Over the past months, I have thought carefully about the path forward. In the end, after much soul searching and discussion, I have concluded that we must stand for the principles and institutions that honour transparency, trust, and above all – the people we serve.
“For decades, the South East – especially Enugu – has stood firmly behind the PDP, showing loyalty
that shaped the party’s success.
“Yet despite this history, our voices were too often disregarded when it mattered most.
It has therefore become necessary to seek affiliation where our interests as a region are represented in the form of fair partnership.
We are not moving from a place of resentment or fear. We are confident of our future.
“We have no axe to grind, no personal point to make. But fairness, respect and integrity must guide our choices for that future to be ours. Today, in joining the APC, we are embracing a visionary partnership.”
Mbah also highlighted the leadership qualities of President Bola Tinubu adding that they both shared same ideals about development.
His words: “I have found in President Bola Tinubu not just a leader of our nation, but a partner in purpose, a man with the courage to look beyond today and make the tough choices that secure lasting prosperity for tomorrow.
“Together, we share a conviction that transformation must be bold and disruptive – that roads, railways, and airlines must stretch out from the heart of the South East; that Enugu’s promise, its security, its schools, its hospitals, its markets, its communities – must be reinforced.
“The President has shown not only interest, but a deep and vested commitment to Enugu, one that recognizes our region as a pillar of national progress.
“We both share a belief that renewal does not stop at the grand highways or the balance sheets. It must reach the ward, the village, our grassroots. It is in the daily life of the farmer, the trader, the young entrepreneur that reforms come alive.
Other determining factors include the degree to which his administration’s policies and projects align with the APC’s Renewed Hope Agenda and Mbah’s ability to deliver on his campaign promises and improve on the lives of people of Enugu State.
“We both welcome initiatives that decentralize opportunity, that strengthen the capacity of local government, that bring seed capital and credit to our youth, and that expand healthcare and education at the community level.”
At the venue for the formal welcome of Governor Mbah to the APC last Tuesday afternoon, Vice President Kashim Shettima led party chieftains including Senate President, Senator Godswill Akpabio to the carnival like event.
Addressing a mammoth crowd of supporters, that thronged the Michael Okpara Square, Enugu, in solidarity with the Governor and his new party, the Vice President maintained that the APC has nutured relationships built on trust, accommodating divergent interests, and offering a platform where every Nigerian with noble intentions can find purpose.
He said President Bola Tinubu’s capacity to listen as well as his inclusive style of leadership and belief in merit has galvanized the party into the most formidable political platform in Africa.
His words: “His Excellency, President Bola Tinubu, our leader, is a man of all seasons and all people — a man whose word is his bond. His sense of inclusion, his rare capacity to listen, and his belief in merit over sentiment have made the APC the most formidable political family in Africa.
“This is why every progressive mind, every reformist, and every visionary, sooner or later, finds their path leading here. So, to you, Your Excellency, Governor Peter Mbah, and your team — welcome home. In the APC, you have found an enduring family, an ally in your journey, and a party that recognises your worth.”
Observing that Governor Mbah had always been a part of the APC fold even before he joined the governing party, Senator Shettima suggested rather jocularly that the governor may have been hiding a broom in his umbrella, the symbol of the opposition PDP.
Governor Mbah (with microphone) and other dignitaries at the rally to welcome him to APC in Enugu last week.
FEaturEs
Five Years After #EndSARS, Has Anything Really Changed in the Nigerian Police?
Five years after the #EndSARS protests shook Nigeria and forced the disbandment of the notorious Special Anti-Robbery Squad (SARS), the question still lingers: has anything truly changed within the nation’s police force? Despite promises of reform, new laws, and countless panels of inquiry, reports of extortion, brutality, and impunity remain stubbornly familiar. Sunday Ehigiator reflects opinions of the youth population, security experts, and human rights activists on whether the movement that once united a generation has yielded lasting transformation in the Nigerian police, or merely renamed the problem
On October 20, 2020, gunfire pierced the night sky at the Lekki Tollgate in Lagos, cutting short the chants of a generation that had risen in unity to demand justice and accountability.
The #EndSARS protests, led largely by young Nigerians, were not just about ending police brutality; they were a cry against oppression, corruption, and systemic failure.
Five years later, as the nation marks yet another anniversary of that fateful day, however, one question lingers: Was it worth it? And if it was, have the police changed for the better?
Executive Director, RULAAC, Okechukwu Nwanguma
Speaking with THISDAY, Human Rights Activist and the Executive Director, RULAAC, Okechukwu Nwanguma noted that “Was it worth it? Yes. Absolutely; the #EndSARS protest was one of the most important civic moments in Nigeria’s recent history.
“It broke the silence around police brutality and forced a national conversation about accountability, governance, and human rights. It also reaffirmed the power of citizens, especially young Nigerians, to demand justice and dignity.
“However, five years later, the sad truth is that police reform has barely moved beyond rhetoric.
“It is important to note that the Police Act 2020, a landmark legislation that repealed the colonial-era Police Act, was passed and signed into law in September 2020, just a month before the protests erupted. That Act provided a comprehensive framework for democratic policing, emphasising accountability, human rights, and community partnership.
“If it had been faithfully implemented, much of what triggered #EndSARS could have been prevented. Instead, implementation has been slow, selective, and largely unsatisfactory. The same old practices- extortion, torture, extrajudicial killings, and political interference- persist.
“The problem has never been the absence of good laws, but the absence of political will. #EndSARS was worth it because it exposed the rot and put reform on the national agenda. But five years on, the Nigerian state has yet to demonstrate the sincerity or courage to turn those lessons into action.
“Until the Police Act 2020 is fully implemented, until accountability becomes real and officers are treated with dignity, Nigeria will continue to circle back to the same crisis.
“#EndSARS was not just a protest; it was a demand for a new social contract between the police and the people. That demand remains unmet.”
In his remarks, the Executive Director COMPPART Foundation for Justice and Peacebuilding, Saviour Akpan said, “It is not about whether the Police have changed but whether Nigerians who employ the Police and patronise their services have been able to provide them with the right tools to work with?
“When I talk about the right tools, I
mean, telling the truth to enable them to understand how best to solve their problems, for example, if someone is indebted to you, which is a civil matter, and the Police are barred from handling civil cases, have Nigerians refrained from criminalising civil complaints simply because they want to show vindictiveness?
“Secondly, have we as Nigerians recognised that we are all citizens and should first fulfil our national responsibilities to claim our rights?
“When we answer questions like these and many others, it is then that we can evaluate the benefit of the #EndSARS protest but if we continue to do what we always do, we will get what we always got.
“However, the way out is that there should be a recognition of the fact that nobody can join the Nigeria Police Force without first being a Nigerian; therefore, we should all see ourselves as Nigerians.
“The Inspector General of Police, for example, and Commissioners of Police should STOP addressing Nigerians as ‘Members of the Public’, but should use the word ‘fellow citizens’ and residents of Nigeria to accommodate our non-Nigerian investors and visitors.
“The Police should think of and devise means to build public confidence and earn trust, and doing these will be first through effective implementation of Community Oriented and Human Rights Based Policing, which is proactive and pragmatic.”
Voice of the Youth
Also speaking, Sales Manager, West Africa Tire Services Nig, Okesola Kolawole, noted that, “#EndSARS is one of the memorable days that brought cooperation, unity and love amongst every tribe and religion.
“It sent a very loud signal to the Nigerian police force on how to deal with citizens, but the way they operate will not allow them to take corrective
action, only if they are independent and the entire police force is restructured.
“Was the protest worth it? Yes, because the citizens came together with one voice irrespective of tribe and religion, and that clearly sends a reminder to all our leaders that our common enemy as Nigerian youth is bad leadership, which police brutality forms a part of. That unity and uniting force still exist today.
“Also, that protest has made police a bit cautious in their operations today, and there is improved accountability, as we have seen in the number of disciplinary actions that Nigerian police have taken against erring officers since the protest. This is one of the gains I can ascribe to the protest.”
Also speaking, Environmental Justice Advocate and Businessman, Macdonald Irabor, noted that, “#EndSARS was supposed to be a successful protest on police brutality, but the lack of leadership on the part of the organisers derailed the movement. I think the movement achieved little impact after the protest, which has now filtered away, because some of the officers are back to their normal reckless behaviours.”
Similarly, a concerned youth and Medical Doctor, Dr Peter Ogunjobi, noted that, “I think it was necessary, though maybe not successful, as the demands of the protesting youths weren't met. And as for the police, they haven't really changed; they only appear to have reduced the impunity with which they harass the masses.”
Another youth, Saheed Olukotun, who described himself as ‘a tired Nigerian’, opined that, “#EndSARS was a movement for people to protest against the injustice perpetrated by the disbanded SARS unit of the Nigeria police force.
“It grew into something bigger due to the several injustices boiling in the average Nigerian. Was it worth it? Yes and No; have the police changed? The rot in the police is systematic and
will take years of effective leadership to change. The missing link is that Nigeria and Nigerians aren’t yet ready for the country we crave for.”
Executive Director, CHRCR, Idris Maliki Abdul
Also speaking with THISDAY, Executive Director of Consensus for Human Rights and Conflict Resolution, Idris Maliki Abdul noted that the movement, though born out of a noble cause, was not properly organised.
According to him, “the concept and the objective initially were okay, to point out the excesses of the Nigerian police, particularly SARS, but it was not properly planned, and there were no coordinating mechanisms at various structures.
“The police are in every local government. So when you are protesting against the police, you have to build a structure or organisation that can respond.
“In terms of police changes, I think there are some elements of consciousness among citizens against the police. That is what #EndSARS achieved. The Nigerian police today are more concerned because when they are molesting somebody, you take pictures, you do video. So they are more conscious now. However, in terms of the attitude of the police, the protest has not really achieved the desired result.”
Discussing the state of policing, Abdul lamented that “the funding of the police is highly inadequate. Go to police barracks and stations and see where they live. Even at police headquarters around 9 p.m., there is no light. The DPO has made money through the system but cannot buy fuel of N10,000 to put in the generator.”
He blamed this on mismanagement, noting that “the private sector doesn’t behave like that; when you make money, you reinvest to get your job done properly.” Abdu urged Nigerians to demand accountability in police budgeting.
The Human Cost and Unhealed Wounds For survivors and victims’ families, the scars of EndSARS remain fresh. The government’s denial, some arrested protesters still languishing in prison, and inconsistent responses have deepened the pain. The Lekki Tollgate shootings, officially disputed by the authorities, are etched into the nation’s collective memory as a symbol of betrayal.
Each year, vigils are held in memory of the dead. Candles are lit, names are read aloud, and the question resurfaces: What did they die for?
To many young Nigerians, the protests were worth it; not because they achieved immediate change, but because they shattered fear and awakened civic consciousness. EndSARS gave birth to a generation that now demands accountability in governance, from police reform to electoral participation.
As activist Rinu Oduala, one of the protest’s frontline figures, noted in an interview, “EndSARS was never a failure; it was a beginning; we learned to organise, to demand, and to speak without fear; that spirit lives on,” and every October 20, the echoes of those chants, ‘Soro Soke!’ (Speak up!), will always remind Nigerians that silence, too, is a form of violence.
www.thisdaylive.com
KADUNA’S WINDS OF CHANGE
For the second year running, Kaduna State is rated first among states in transparency and integrity, writes JASPER DAUDA-TARKIRA
HAPPY BIRTHDAY, SOLA MOSHOOD ISAMOTU pays tribute to Sola Oni, a multi-faceted professional, at 65
opinion@thisdaylive.com
Mentorship helps leaders avoid unnecessary pain, and keeps them from relearning lessons already paid for, argues LINUS OKORIE
WHY MENTORSHIP IS THE HIDDEN CATALYST FOR GREATNESS
A study focusing on Onitsha, Anambra State found that the local mentorship/ apprenticeship business model produced firms with higher survival rates than average. Over 70 % of businesses started via the mentor-system survived their first five years, higher than the national rate. None climbed alone. Behind every bold decision, behind every public victory, there is usually a quiet voice that once said, “Here is what I learned when I was where you are.” Leadership is lonely, yes. But it was never designed to be solitary. Growth accelerates in proximity to wisdom, and wisdom often wears the face of a mentor.
We celebrate self-made stories because they sound heroic. A person rises from obscurity, conquers setbacks, and changes the world through sheer determination. But the “self-made” leader is mostly a myth. Every great leader, either in politics, business, or military has had someone who offered guidance, challenged assumptions, or helped sharpen perspective.
Nelson Mandela had Walter Sisulu, who shaped his early political thinking and disciplined his resolve. Shola Akinlade of Paystack (the Nigerian fintech startup acquired by Stripe) credits Iyin Aboyeji for navigating Nigeria’s regulatory landscape, investor relations and business-scale issues. Warren Buffett had Benjamin Graham. Steve Jobs had Mike Markkula. The list goes on.
Mentorship doesn’t replace effort; it multiplies it. It shortens the distance between mistakes and mastery. It helps a leader move from ambition to accuracy. Mentorship creates accelerated growth through shared experience. Instead of learning everything the hard way, you inherit someone’s lessons; complete with the bruises they took to learn them. You gain insight without the unnecessary detour.
Research backs this up. Studies by the American Society for Training and Development show that 75% of executives attribute their success to mentorship. Harvard Business Review reports that professionals with mentors are promoted five times more often than those without. In organizational settings, teams with mentored leaders display higher engagement, lower turnover, and greater innovation output.
Mentorship is the compound interest of leadership growth. The earlier you start, the more it multiplies. Leadership often feels like standing in fog; moving forward without full visibility. A mentor becomes the steady hand that keeps you from doubting every step. When imposter
syndrome whispers, “You are not ready,” a mentor quietly replies, “You are more ready than you think.”
During uncertain growth stages, when the business scales, teams expand, and pressure mounts, mentors become stabilizers. They provide direction and anchor confidence. Their presence alone reassures you that what you are experiencing is part of the process.
No leader sees everything. Success creates blind spots; confidence breeds tunnel vision. A mentor’s role is to reveal what you can’t see about yourself. Ego traps are real. They ask hard questions. They expose inconsistencies. They help you separate conviction from stubbornness. Mentors act as mirrors and filters, reflecting truth while keeping noise out. They keep leaders honest when success tempts them to drift. Good mentors are like compasses; they help you skip mistakes that don’t need to be made. Their wisdom doesn’t come from reading about storms; it comes from surviving them. Mentorship helps leaders avoid unnecessary pain. It keeps them from relearning lessons already paid for by someone else’s scars.
Think of Satya Nadella’s transformation of Microsoft. He often credits Bill Gates and Steve Ballmer for shaping his understanding of leadership pace and cultural renewal. Instead of dismantling everything, Nadella learned to evolve the company by understanding what his predecessors did right and wrong. This allowed him to make smarter moves, enabling him to transform Microsoft into one of the most valuable companies in the world.
Knowledge is what you know. Wisdom is knowing when and how to use it. Mentorship bridges that gap. Training can give you information, but mentorship interprets it through experience. It teaches the difference between boldness and recklessness. A mentor helps you apply insight in context. This is why mentorship conversations often sound deceptively simple. A single sentence from a mentor, drawn from decades of experience, can save you months of confusion.
Organizations that embed mentorship
into their leadership culture outperform those that don’t. Deloitte found that companies with strong mentoring cultures have retention rates 20% higher than those without. Gallup’s data shows that employees who receive consistent developmental feedback from mentors are more engaged and produce better results.
General Electric, IBM, and Procter & Gamble have long institutionalized mentoring as a strategic advantage. GE’s “Leadership Development Pipeline” pairs rising managers with senior executives, ensuring continuity of culture and competence. The results in a steady stream of leaders who grow faster and lead stronger teams. Mentorship is a growth system with measurable outcomes. The returns are both measurable and intangible. Measurable, in how it accelerates promotions, improves performance, and reduces turnover. Intangible, in how it shapes character, widens empathy, and deepens humility.
Executives often say that mentorship gave them clarity during their messiest seasons. Indra Nooyi, former CEO of PepsiCo, credited early mentors for teaching her how to navigate corporate politics without losing her identity. Sheryl Sandberg, before joining Facebook, was mentored by Larry Summers at the U.S. Treasury. This is a relationship she describes as pivotal in her career growth. These stories echo a single truth that mentorship is an investment with ROI.
Too many organizations treat mentorship as something nice to have, but not central to strategy. This is a mistake. Mentorship builds leadership pipelines and preserves institutional wisdom. In practical terms, mentorship is cheaper than turnover and more effective than most corporate training programs. For leaders, mentorship is an investment in future stability. The wisdom you gain compounds into better decisions, healthier teams, and fewer crises.
So, how do you quantify mentorship’s influence in your own leadership journey? Track the difference in clarity, speed, and decision quality before and after you started working with mentors. Evaluate how your confidence holds during uncertainty. Watch how your ability to develop others grows.
Okorie MFR is a leadership development expert spanning 30 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre.
For the second year running, Kaduna State is rated first among states in transparency and integrity, writes
JASPER DAUDA-TARKIRA
KADUNA’S WINDS OF CHANGE
For the second consecutive year, Kaduna State has clinched the top spot in the 2025 Transparency and Integrity Index (TII), a prestigious ranking released by the Center for Fiscal Transparency and Public Integrity (CeFTPI) with support from the MacArthur Foundation. This achievement not only underscores the state's unwavering commitment to ethical governance but also highlights the transformative leadership of Governor Uba Sani, whose administration has made anti-corruption policies a cornerstone of its agenda.
In the recently released rating, Kaduna scored 49.08% to retain the first place nationally, ahead of Kano (46.86%) and Osun (45.97%). This resounding success is a testament to deliberate reforms that prioritize transparency, accountability, and citizen-centric development.
The TII, a comprehensive evaluation tool, assesses all 36 Nigerian states across five core areas: Fiscal Transparency, Open Procurement, Human Resources, Control of Corruption, and Citizens’ Engagement. Kaduna's dominance in these domains reflects a holistic approach to governance that goes beyond mere rhetoric. Particularly noteworthy is the state's performance in the Control of Corruption variable, where it achieved the highest score nationwide at 80%. Without a flinch of doubt, this reflects the state’s strong anti-corruption mechanisms and commitment to ethical governance under the able leadership of the comrade governor, Senator Uba Sani. Such a high mark in anti-corruption is no small feat in a country grappling with systemic challenges like graft and mismanagement and intractable personal aggrandizement. It signals that Kaduna is not just talking about fighting corruption but implementing robust systems to root it out.
Governor Sani's role in this triumph cannot be overstated. Since assuming office, he has driven a series of anti-corruption policies that have reshaped the state's administrative landscape. His administration has built on the foundations laid by previous reforms, emphasizing institutional integrity as the bedrock of progress. In reacting to the TII ranking, Governor Sani articulated his vision clearly: “Our administration has prioritized transparency and accountability as the foundation of sustainable development. This recognition from the Center for Fiscal Transparency reaffirms that Kaduna is not only performing but doing so with integrity. We will continue to deepen reforms, strengthen citizen engagement, and ensure that every Kobo is accounted for.”
By this, one can safely declare that in this administration of Governor Sani, transparency is not an optional addon but the very essence of sustainable growth. By vowing to account for "every Kobo," Uba Sani has publicly and for the umpteenth time, announced his commitment to fiscal prudence that ensures
public funds serve the people, not personal interests.
Under Governor Sani's leadership, Kaduna has implemented stringent measures to enhance fiscal transparency. This includes digitizing financial processes, making budget documents publicly accessible, and conducting regular audits. These efforts align directly with the TII's Fiscal Transparency pillar, where Kaduna's high performance contributed to its overall score. The report highlights how such reforms have fostered an environment where corruption finds little room to thrive. For instance, by prioritizing open procurement, the state has minimized opportunities for kickbacks and favoritism in contract awards. The TII notes that Kaduna's "outstanding performance across these parameters highlights the impact of the reform-driven leadership of Governor Uba Sani, whose administration continues to build on the solid governance foundations laid in the state." This acknowledgment points to a continuity of excellence, where Uba Sani's policies amplify existing strengths rather than starting from scratch.
The Commissioner for Information, Mallam Ahmed Maiyaki, echoed these sentiments, providing further insight into the administration's strategy. He described the ranking as “a clear validation of the Uba Sani-led administration’s result-oriented governance.” Maiyaki insisted that: “This ranking is not by chance — it is the outcome of deliberate policy choices and institutional reforms aimed at promoting openness, curbing corruption, and ensuring that governance delivers tangible results for citizens. It underscores the governor’s firm belief that transparency breeds trust, and trust is the cornerstone of effective leadership.”
An analysis of what the commissioner is saying here will reveal emphasis on the intentionality behind Kaduna's success. It was never a product of serendipity or happenstance; but a calculated push toward ethical practices. By curbing corruption through reforms like enhanced oversight and whistleblower protections, the administration has created a governance model that prioritizes results over rhetoric.
Dauda-Tarkira, a public affairs analyst and Good Governance Campaigner, writes from Abuja
MOSHOOD ISAMOTU pays tribute to Sola Oni, a multi-faceted professional, at 65
HAPPY BIRTHDAY, SOLA
By 1997, the Nigerian Exchange (NGX) Limited (formerly the Nigerian Stock Exchange) had reached a pivotal point, recognising the need to fortify its public communications Department. Under the visionary leadership of the late Apostle Hayford Alile, it launched a rigorous headhunt for a communications professional whose expertise and character aligned with its values, image, and evolving aspirations for corporate excellence. Eventually, the mantle fell on Olusola Jacob Oni (widely known in the industry as Sola Oni), a journalist at The Guardian newspaper, Nigeria's media flagship. Indeed, it was a twist of irony or perhaps destiny for Oni to have emerged as the preferred ideal candidate by the Exchange. His consistent, insightful, and pungent reports on the capital market had become a tool for decisionmaking for capital market executives, which, in several instances, had also made the leadership on the Exchange uncomfortable. The strength of Oni’s network of sources and insider access, coupled with his journalistic instinct and news presentation style, stood him out.
However, Oni’s transition to the Exchange was expected by the broader capital stakeholders, who had already marked him out as a future player in the market beyond the media.
At one point, Oni was temporarily deaccredited by the management of the Exchange, a reaction to his unflinching reporting. The Exchange formally requested that The Guardian assign a new correspondent. However, the newspaper stood its ground. Recognising the depth, credibility, and insight Oni brought to capital market coverage, The Guardian’s management made a clear statement: whether officially granted access or not, Oni would continue to cover the beat. Confronted with this quiet resistance and fully aware of Oni’s influence in the financial press, the Exchange reversed its decision and reinstated his accreditation.
Oni joined the Exchange as a core financial journalist with a strong pedigree. But his transition into corporate communications was far from incidental; it was intentional. For many years, he worked under the tutelage of Mrs. Yinka Idowu, a public relations virtuoso. Under her guidance, he blended-journalistic precision with strategic messaging and corporate diplomacy.
On the Exchange, Oni donned his innate garment of intellect and strong work ethic like a camel in its natural habitat - the desert -and the water bears in the ocean. He continuously fired his intellectual projectile so high that within a short period , everyone in the organisation appreciated his contributions. He became a corporate champion, being sought after for troubleshooting.
By setting ambitious targets for himself, Oni rose to every challenge like a phoenix from the flames. He evolved into a highstakes, reflective leader, widely seen as a
future top executive. His performance spoke for itself, so much so that no one could question his merit. His bold and impactful contributions earned him rapid, successive promotions that were beyond dispute. It was only fitting, then, that he was entrusted with significant responsibilities, all of which he carried out with unwavering diligence.
Apostle Hayford Alile retired as Director General in 1999 and was succeeded by Professor Ndi OkerekeOnyuike (then Dr. Okereke-Onyuike), who also recognized Oni’s potential. Some years later, she promptly endorsed Accenture’s recommendation, leading to his deployment to the Market Operations Directorate, a strategic move that positioned him for higher responsibilities.
For the 13 years he spent on the Exchange, Oni’s performance was nothing short of exemplary. He poured his heart and soul into every task, leaving a lasting legacy that is still reverberating till date.
One of the qualities that defines Oni is his ability to navigate power circles untainted. Physically tall and morally upright, Oni’s stature mirrors his towering integrity index. He lives simply, remains content, and shows gratitude for what God has done for him. You can do business with him, shake hands, and sleep well - knowing no storm can shift his moral compass.
As an Ekiti man, he is well-cultured in tradition, universal ethics, and values. He earned people’s respect because he believes he owes them more in a relationship.
Our paths crossed in 1991 in Gongola State (now Adamawa), where I was posted to the National Spectator Newsmagazine in Yola for my NYSC.
He was to be my immediate boss. However, I was redeployed to another location, and we lost contact.
But fate brought us together in 1998 when I was posted to the NSE as a market correspondent for The Punch newspaper, where Oni was already making waves. He has since then remained my mentor, benefactor, friend, and much more - my brother, from whom I am still learning.
Isamotu is a Lagos-based public affairs commentator
ISSUES IN THE COASTAL HIGHWAY PROJECT
The project must conform to minimum standards of transparency and accountability
The controversy over the actual cost per kilometre of the Lagos–Calabar coastal highway has refused to go away with Oyo State Governor, Seyi Makinde, raising his own posers. Questioning the estimated figures being touted by the Works Minister, David Umahi who recently told an ARISE Television anchor that he is a “professor” of practice in engineering whose words should be taken as law, Makinde said the minister was only “dancing around” the issue of cost. Meanwhile, the only response that has come from Umahi is to claim being Makinde’s “senior both in governance and in engineering practice”, while the question of accountability and transparency surrounding the project remains unanswered.
As stated in a recent editorial, the 700-kilometre costal highway project, designed to connect Lagos State to Cross River State through the coastal states of Ogun, Ondo, Delta, Edo, Bayelsa, Rivers, and Akwa Ibom has high potential investment value. However, the process through which the contract was awarded, and the funding plan have continued to elicit controversy regarding transparency and accountability. In May this year, President Bola Tinubu commissioned the first 30 kilometres of the project, all within Lagos State.
train tracks in the middle, the project would cost taxpayers a whopping N8 billion per kilometre.
While refuting Atiku’s allegations at the time, Umahi said the contract was awarded based on a counter-funding rather than Public-Private Partnership (PPP) arrangement. Umahi likened the coastal project to that of Abuja-Makurdi being handled by China Harbour, and the road project in Enugu State where the government is paying 50 per cent counterpart funding. Both, according to Umahi, fall under Engineering, Procurement, Construction plus Finance, (EPC +) which requires equivalent funding from both the government and the contracting company.
The coastal road is a laudable project. When completed it will impact positively on the national economy
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
When the project was first announced two years ago, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general election, former Vice President Atiku Abubakar, questioned the propriety of awarding such a huge contract without meeting the minimum threshold of due procurement process of competitive bidding. In a series of statements, Atiku challenged the federal government to disclose the total cost of the highway project. He also questioned the release of N1.06 trillion for the pilot phase, or six per cent of the project, which begins at Eko Atlantic and terminates at the Lekki Deep Sea Port. The former vice president estimated that, excluding the designed
T H I S D AY N E W S PA P E R S L I M I
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU
DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE
DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
However, Umahi’s defence also contradicted his earlier statement of September 2023 that it would be by PPP. The minister claims that the type of infrastructure to be installed on the road would determine the cost, adding that coastal roads built on swampy areas are more expensive due to water challenges, soil condition and other engineering inputs. He put the cost of the highway project tentatively at N15 trillion, about N4 billion per kilometre, although he failed to be categorical about what the total figure would be.
There is no doubt that the coastal road is a laudable project. When completed it will impact positively on the national economy, particularly on the Lagos end. But the silence from the Bureau of Public Procurement (BPP) is also very telling. For a project of this magnitude, the BPP should play a critical role, especially with the claim by Umahi that it was approved by the Federal Executive Council where due process ought to have mattered. As hard as the minister has tried, it appears that the controversy over the Lagos-Calabar highway contract will not go away. What most people are saying is that federal government projects and spending must conform to minimum standards of transparency and accountability. And this issue must be addressed in public interest.
NIGERIA’S RISING COST OF LIVING
Across Nigeria today, conversations in buses, markets, offices, and homes revolve around one thing — the unbearable cost of living. From food to fuel, transport to electricity, everything has become painfully expensive. For millions of Nigerians, survival has become a daily struggle, and the promise of renewed hope now feels like a cruel illusion.
The removal of fuel subsidy, the floating of the naira, and multiple economic reforms introduced by the Tinubu administration were intended to stabilize the economy and attract investment. Yet, for the ordinary citizen, these policies have translated into hardship and despair. Inflation has soared to record levels, eroding purchasing power and pushing more people below the poverty line. A bag of rice that sold for ₦45,000 last year now costs between ₦65,000 and ₦70,000 — a clear indication that wages no longer match the cost of survival.
Government officials continue to defend these policies as “painful but necessary sacrifices” for long-term growth. However, what they fail to acknowledge is that reforms without safety nets are like prescribing strong medicine to a starving patient. Without immediate relief measures — food support, transportation subsidies, and realistic minimum wages — Nigerians are being asked to endure what feels like endless suffering in the name of reform.
The truth is that economic pain is no longer just an abstract statistic. It is visible in the growing number of homeless families, the shrinking food portions in restaurants, the rise in petty theft, and the mass migration of skilled workers seeking better lives abroad. Even those with stable jobs are struggling to make ends meet. Civil servants who once managed to survive on modest salaries now borrow before the middle of the month.
Small businesses, once the lifeline of the Nigerian econ-
omy, are collapsing under the weight of high fuel prices. Transporters complain that diesel prices have doubled, traders lament that customers can no longer afford their goods, and artisans have cut down on their workforce just to stay afloat. The private sector is bleeding, while the informal sector — which employs the majority — is gasping for breath.
It is difficult to speak of national productivity when hunger has become a daily companion. Malnutrition rates are rising, and families are being forced to make impossible choices — between paying school fees and buying food, between transport fares and electricity bills. The situation is dire, yet the response from policymakers often feels detached, as though the hardship were happening in another country.
Esther John, Dept of Mass Communication University of Maiduguri
Kayode tokede
The average prime lending rate in Nigeria’s banking sector increased to 18.88 per cent in August 2025 from 18.54 per cent in July 2025 as banks adjust to the recent reduction of Monetary Policy Rate (MPR) to 27 per cent by Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
The 18.88 per cent average lending rate in August 2025 is the highest
so far this year attributable to easing in inflation, improving macro-economic indicators, and the CBN moves to stimulate lending and economic activity (especially in agriculture, manufacturing, and small/medium enterprises).
Prime lending rate is the interest rate commercial banks operating in Nigeria charge their most creditworthy and financially stable customers, usually large corporations or
top-rated borrowers. Prime lending rate is determined by banks’ cost of funds & risk assessment and inflation & liquidity conditions in the economy.
MPR remained stable at 27.5 per cent from January to July 2025, it declined slightlyto 27per cent in August 2025. The average prime lending rate has fluctuated between 17.96 per cent and 18.88 per cent, showing small monthto-month movements
even though MPR was mostly constant so far in 2025.
The CBN in its “Money Market Indicators”CBN disclosed that the prime lending rate in Nigeria averaged 14.13 per cent from 1961 until 2025, reaching an all-time high of 37.80 per cent in September of 1993 and a record low of six per cent in April of 1975.
An investigation by THISDAY revealed that for many banks, the average prime lending rate was
listed around 25-32per cent as of August 2025.
For instance, Access Bank’s average prime lending rate to “Government” stood at 25.50 per cent, while that of Ecobank was at 26.75 per cent.
Other banks average prime lending rate to “Government” as of August 2025 include: FCMB, 20 per cent; Fidelity Bank, 30 per cent; First Bank of Nigeria, 26 per cent, Globus Bank, 26 per cent; GTBank, 19 per cent;
The National Pension Commission (PenCom), has said that a total of 844,000 retirees across both public and private sectors currently enjoy retirement benefits that are steady, reliable, and transparent, courtesy of the Contributory Pension Scheme(CPS).
The Director General PenCom, Ms Omolola Oloworaran who disclosed this at a pension workshop held in Lagos said the enactment of the Pension Reform Act 2004 amended in 2014 which gave birth to the CPS was one of the best things that has happened in the history of Nigeria, adding that it has permanently solved
problem of unpaid pensions and retirement without hope.
“Over the last two decades, the Contributory Pension Scheme has rewritten Nigeria’s pension story. We have moved from an era defined by unpaid entitlements and uncertainty to a new order anchored on transparency, sustainability, and
inclusiveness.Today, more than 10 million Nigerians from public service employees to private sector workers, and even artisans and the self-employed under the Personal Pension Plan, are covered under the CPS.Pension assets have grown to over N25 trillion, fueling national development through
strategic investments, while also securing regular monthly pensions for over 552,000 retirees and lump sum benefits for an additional 291,735 retirees,” she stated.
She said even at present, the commission has continued to carry out series of reforms targeted at making the
system perfect to the benefit of Nigerians. He added, “Reform is a continuous journey. In line with our mandate to protect contributors and guarantee dignity in retirement, PenCom has rolled out key interventions that are changing lives.”
ebere Nwoji
Cardoso: Reform Discipline Key to Sustaining Economic Gains, Investor Confidence
In this interview with journalists on the sidelines of the 2025 IMF/World Bank Annual Meetings in Washington D.C., the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, speaks on Nigeria’s reform trajectory, investor sentiment, and the country’s growing leadership role in global financial governance. He highlights how sustained discipline in implementing fiscal and monetary reforms is restoring macro-economic stability, strengthening the naira, and improving investor confidence, Eromosele Abiodun and Nume Ekeghe present excerpts:
Could you share the key highlights and major takeaways from Nigeria’s participation at the IMF/World Bank Annual Meetings?
It has been an active and forward-looking week for Nigeria at the 2025 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group. These meetings took place amid global uncertainty marked by slowing growth, volatile markets, and persistent fiscal and financial pressures. For Nigeria, however, this was a defining moment—an opportunity to showcase the tangible progress of our reform agenda and reaffirm our commitment to macroeconomic stability, fiscal discipline, and inclusive growth.A major highlight of the week was Nigeria’s assumption of the Chairmanship of the Intergovernmental Group of 24 (G-24), which coordinates the positions of developing countries on global monetary and developmental issues within the Bretton Woods system. Nigeria will formally assume this role on November 1, 2025, unveiling an ambitious agenda that reflects the priorities of developing nations. This milestone underscores international confidence in Nigeria’s leadership and growing influence in shaping the global financial architecture. Throughout the meetings, the Nigerian delegation held extensive engagements with the IMF, World Bank, International Finance Corporation (IFC), global rating agencies, investors, and development partners. The tone of these discussions was one of confidence and constructive partnership. There is broad recognition that Nigeria’s reforms are delivering results. Inflation is moderating, the exchange rate has stabilized, and investor confidence is returning.
Nigeria’s reform efforts appear to be yielding tangible results from easing inflation and a stronger naira to improved fiscal stability and rising non-oil revenues. How would you assess the impact of these reforms so far, and what steps are being taken to sustain this momentum?
Latest data from the National Bureau of Statistics show that headline inflation fell for the sixth consecutive month in September to 18.02 per cent, from 20.12 per cent in August, the lowest level in three years. Core and food inflation also eased during the period, reflecting the effects of disciplined monetary tightening, exchange rate unification, and improved market transparency. The naira continues to strengthen, with the spread between the official and parallel market rates now below 2 per cent. Foreign reserves stand above $43billion, providing more than 11 months of import cover supported by renewed investor participation and sustained inflows across asset classes. On the fiscal side, reforms are improving revenue mobilization, reducing the cost of governance, and channeling expenditure toward infrastructure, education, and healthcare. The removal of fuel subsidies and expenditure rationalization have helped rebalance public finances and create fiscal space for productive investment. These bold reforms, undertaken over the past two years, have laid a strong foundation for Nigeria to pursue the next
phase of its economic agenda—driving inclusive growth, job creation, and poverty reduction.Public finances are in better shape, with rising non-oil revenues providing much-needed diversification and fiscal stability. Reduced insecurity in oil-producing areas and targeted incentives have boosted production and attracted over $8billion in new energy investments.On the monetary side, we have restored orthodoxy, relying on traditional instruments such as the monetary policy rate, cash reserve requirement, and liquidity ratio to manage liquidity and anchor expectations. These measures, coupled with close coordination with fiscal authorities, are delivering tangible outcomes. We are also leveraging advanced analytics and artificial intelligence to strengthen monetary operations, enhance forecasting, and improve policy transmission ensuring that decisions are data-driven and forward-looking. Financial system stability remains a central priority. The bank recapitalization programme is progressing steadily, making Nigerian banks stronger, more resilient, and globally competitive. In the foreign exchange market, reforms have enhanced transparency and efficiency, supporting the ongoing disinflation trend alongside stable exchange rates and improved food supply.We also held a strategic session with Nigerian FinTech leaders under the theme “Shaping the Future of FinTech in Nigeria: Innovation, Inclusion, and Integrity.” The dialogue highlighted our shared commitment to ensuring that innovation and regulation progress together anchored in trust and responsible growth. Nigeria’s fintechs are ambassadors of our nation’s creativity, resilience, and global relevance, and engaging them as partners ensures that our digital financial future is built on innovation, integrity, and inclusion.A recurring theme throughout the meetings was the rising prominence of stablecoins in the global financial system. Their potential to enhance payments
inclusion and cross-border transactions is undeniable, but they also raise important questions around monetary sovereignty, exchange rate stability, and financial integrity. As global regulators work to define clear and consistent frameworks, Nigeria intends to play an active role in shaping this conversation, ensuring that innovation supports rather than undermines financial stability and economic sovereignty.We also signed a Memorandum of Understanding with the Central Bank of Angola to deepen cooperation on monetary policy, promote financial stability, and strengthen regional economic ties.
You signed an MoU with the Bank of Angola, following another bilateral agreement with the Bank of Ghana. Could you tell us the outcomes and what Nigeria stands to gain from these collaborations?
The MoU with the Bank of Angola reflects our commitment to deepening regional financial cooperation. Nigeria and Angola are both members of a shared constituency, which includes South Africa, under one of the Executive Director positions at the IMF. However, this agreement was not just about that arrangement—it is something we’ve been working toward for quite some time. We had hoped to sign it during the last meeting, but it didn’t happen. Angola is a natural partner for Nigeria. Both countries share many similarities—oil production, demographic pressures, and structural economic challenges. So, this partnership will allow us to exchange technical expertise, strengthen banking collaboration, and jointly build a more resilient financial ecosystem across Africa. Nigerian banks already have a presence in Angola, and this MoU paves the way for greater cooperation and expansion. We see this as the start of deeper regional partnerships with other African countries.
Congratulations on Nigeria’s assumption of the leadership of the G24. What is the core message of the group in advancing global trade, especially amid growing protectionism and supply chain disruptions?
The G24 brings together countries with shared development challenges to form a stronger voice within global financial institutions like the IMF and World Bank.
At our recent meetings, there was a very strong dialogue between G24 members and the leadership of both institutions, particularly on trade and global economic cooperation. A key takeaway is the recognition that regional cooperation among developing countries will play a bigger role in global trade going forward.This aligns perfectly with Nigeria’s economic direction—building partnerships that enable inclusive trade and sustainable growth. But these outcomes require deliberate policy actions. We must be intentional in ensuring that cooperation leads to tangible development outcomes.
At the investor forum, Nigeria showcased several reforms that have improved the business environment. What will be your next steps to sustain this momentum?
The key to sustaining momentum is consistency. We want to ensure that the policies we’ve implemented remain on course and that we don’t allow reform fatigue to set in.The danger of slowing down is that we could lose the gains we’ve already made. So, our focus is to continue showing results—communicating progress clearly as inflation begins to trend downward, which it will. Nigerians must see and feel the benefits of these reforms, knowing that there are better days ahead. This is not a short dash; it’s a marathon. The answer lies in staying the course and maintaining discipline in policy execution.
You mentioned meeting with Fintech CEOs operating in Nigeria on the sidelines of this meeting. Could you elaborate on the outcomes of that engagement?
The Fintech meeting was largely a listening session for us. Before coming to Washington, we had engaged Fintech companies at various levels in Nigeria, conducted surveys, and produced a draft blueprint summarising their key pain points and proposed solutions.I called this meeting specifically to validate what we had gathered and hear directly from them. The session was moderated by our Director of Payments, and it allowed us to collect raw data and feedback.Fintechs are an important part of Nigeria’s financial ecosystem. Many operate across Africa, serving as ambassadors of Nigerian innovation. Our goal is to support their growth while managing associated risks.We held the meeting in Washington because it gave us an opportunity to share insights with global stakeholders, including the IMF and central bank governors from other countries. The discussions have sparked interest from peers who are curious about Nigeria’s evolving regulatory approach.
Cardoso
L-R:Chairman Living Trust Mortgage Bank Plc, Kamaldeen Adekilekun; Founding Partner R.O. Balogun & Co, Rafiu Oyeyemi Balogun, SAN, and Director Utica Capital Limited, Tajudeen Ahmed, at the postSAN conferment reception for Prof. Mubarak Tijani Adekilekun, in Abuja… recently
LASG Partners AFD, Others to Launch 360m Euros Waterways Transportation System
Emma Okonji
The Lagos State Government, in collaboration the French Development Agency (AFD), European Union (EU), and European Investment Bank (EIB), is set to revolutionise ferry transport with the launch of the Omi Eko Project, designed to modernise the city’s waterways sector with technology-powered speed boats.
The project, which
is expected to begin operations in the next two years, will establish an organised, efficient, and affordable ferry system that enhances connectivity and improves the daily lives of residents in Lagos.
Implemented by the Lagos State Waterways Authority (LASWA), the project is supported technically and financially by a consortium of European partners led by the French Development Agency (AFD) with a loan
CSCS to Launch T+2 Settlement as Market Confidence Strengthens
Kayode Tokede
The Central Securities Clearing System (CSCS) Plc has confirmed its readiness to transition to a T+2 settlement cycle on November 28, 2025, marking a significant milestone for Nigeria’s capital market.
In his opening remarks during a stakeholder webinar themed, “Trade Associations: Ensuring Stakeholders’ Readiness for T+2 Settlement System”, CSCS Managing
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor
Emma Okonji
Asst. Editor, Energy
Emmanuel Addeh
Asst. Editor, Money Market
Nume Ekeghe
Correspondents
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
Reporter Peter Uzoho (Energy)
Director/CEO, Haruna JaloWaziri, reflected on the 26-year journey since the organisation’s inception.
He noted that CSCS was established to address settlement risks and that adopting a T+2 cyclealigns Nigeria with international standards by reducing delays, minimising risk, andimproving liquidity.
Jalo-Waziri thanked the Securities and Exchange Commission (SEC) for its support andopenness to innovation, as well as the NGX Group Plc and various trade associations fortheir active collaboration throughout the implementation process.
Temi Popoola, Chairman of CSCS, highlig hte d the significant investment made in technology and infrastructure to ensure operational and technical readiness for the T+2 transition.
He saidthe organisation has conducted rigorous stress testing under high-volume and adverseconditions, demonstrating CSCS’s capability to support the new system with strongredundancy and fallback mechanisms.
of 130 million euros, and jointly funded by the European Investment Bank (EIB) with a loan of 170 million euros, and the EU with a grant of 60 million euros.
Speaking during the launch at the weekend,
Africa Set
Nume Ekeghe
Financial markets expert and Managing Director of NG Clearing, Mr. Farooq Oreagba, has said that Africa is on the verge of unveiling an innovative financing model to bridge its infrastructure gap a move he believes could transform the continent’s development trajectory.
Speaking on the sidelines of the ongoing IMF/World Bank Annual Meetings, Oreagba said he and a
The federal government has commended the Chartered Institute of Stockbrokers (CIS) for its proactive advocacy aimed at expanding the Nigerian economy to a $1 trillion valuation, through strategic engagement with capital market opportunities.
Speaking at the 29th Annual Stockbrokers’ Conference held in Abuja over the weekend, the Deputy Chief of Staff to the
the Lagos State Governor, Mr. Babajide SanwoOlu, said: “This project is not merely about infrastructure; it is about the transformation of lives, of livelihoods, and of Lagos itself. It speaks to who we are as a
team of professionals have been engaging with key institutions such as the African Development Bank (AfDB), to design alternative financing structures that can unlock large-scale funding for infrastructure projects across Africa.
According to him, “As you know, Africa has a huge infrastructure gap, and doing the same thing repeatedly will not yield new results. My colleagues and I have been working on alternative
President in the Office of the Vice President, Senator Ibrahim Hadejia, praised the Institute’s commitment to national economic growth.
The conference, themed “Capital Markets in a Digital, Ethical, and Sustainable Era: Charting Pathways for Economic Transformation,” brought together key stakeholders in the financial sector to discuss the future of Nigeria’s capital market
AWARI App Secures Funding to
season.
Nigeria’s lifestyle discovery platform, AWARI, has secured a new round of bridge funding to scale its mission of transforming urban discovery and supporting lifestyle businesses across Africa ahead of Detty December, the country’s peak entertainment and tourism
The funding round, which surpassed the company’s previous pre-seed raise, was led by the Lagos Angel Network (LAN) and supported by a network of strategic investors.
Founded by entrepreneur Tannaz Bahnam, AWARI connects users with local lifestyle businesses — including restaurants, spas, gyms, shops, and
people, bold in ambition, relentless in innovation, and united by a shared determination to build a Lagos that works for all.”
The Omi Eko Project will introduce 15 structured ferry routes, spanning 140 kilometers and linking 25 upgraded and expanded ferry terminals across the city. As part of the initiative, 75 state-of-the-art electric vessels, each capable of carrying up to 440 passengers, will be procured.
ways of raising finance to help cover this gap. We’ve had promising discussions with the AfDB, even before this conference, and came up with a solution that the President is very excited about. We’ll be meeting him again to finalise the details.”
Oreagba explained that the new model aims to allow multilateral lenders to provide loans without impacting their balance sheets a breakthrough that could multiply available funds
markets in a rapidly evolving global market.
“On behalf of the Federal Government, I wish to commend the Chartered Institute of Stockbrokers for its bold and forwardlooking advocacy aimed at positioning the Nigerian economy on the path to achieving a $1 trillion GDP.
The journey to a $1 trillion economy is ambitious, but with strategic collaboration between
events — while providing business owners with tools for visibility, bookings, loyalty management, and data-driven growth.
Speaking on the new funding, Bahnam said the investment will help the company deepen its impact and strengthen its role in supporting urban living and SME growth.
Speaking also, Chairperson of the Lagos Angel Network,
for development financing. He added: “Normally, loans from multilaterals sit on their balance sheets, which limits their lending capacity. But with this structure, they can lend without that constraint, allowing them to leverage and extend significantly larger sums possibly two or three times more. Combined with PPP-type arrangements and private sector participation, it could channel billions more into African economies.”
government, regulators, and market operators, it is entirely achievable,” Hadejia said.
Director General of the Securities and Exchange Commission (SEC),Dr. Emomotimi Agama, delivered a keynote address on behalf of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Minister of State for Finance, Dr. Doris Uzoka-Anite.
Yemi Keri, described the company’s growth as a positive sign for Africa’s digital and SME ecosystem. “We are excited to support AWARI as it shapes the future of urban discovery in Africa,” Keri said. “AWARI is creating real value for SMEs by helping them increase visibility, attract new customers, and thrive in competitive urban markets,” Keri said.
Oluchi Chibuzor
Report: Nigeria’s Oil and Gas Sector to be Impacted by Persistent Operational Risks, Others in Q4
Ejiofor Alike
A new report by the Society of Energy Editors (SEE) has listed persistent operational risks, and the dispute between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) as some of the short-term crises that will hinder long-term opportunities in Nigeria’s oil
and gas sector in the fourth quarter (Q4) of 2025.
In the report titled: “New Hope Tempered by Crisis”, SEE noted that Nigeria’s energy sector is caught between a transformative long-term opportunity and an acute short-term crisis in the final quarter of 2025.
According to the report, while a historic breakthrough in Ogoniland and resolution of political crisis in Rivers State offered a path to
unlocking long-paralyzed reserves, a severe labour dispute at the Dangote Refinery threatened fuel supply nationwide.
The Dangote-PENGASSAN dispute, the report added, also threatened macroeconomic stability, putting the sector on a knife-edge.
On crude oil production, the report noted that while daily output has stabilized near 1.65 million barrels, “the
Chinedu Eze
Q4 outlook is a tug-of-war between groundbreaking diplomatic progress and persistent operational risks.”
The report described one of the recent positive developments - President Bola Tinubu’s conferment of reprieve and honours on the “Ogoni 9” and “Ogoni 4” as a watershed moment.
According to SEE, the subsequent Ledum Mitee-led report provides a concrete roadmap for resumption of
oil production in Ogoniland, focusing on community equity, environmental remediation, and local content.
The report also stated that high-level talks between the international oil companies (IOCs), indigenous firms, and community leaders were underway.
“The expiration of the state of emergency in Rivers State on September 18 has restored democratic
Pathway Bags BAFI Award as Best Issuing House Air Peace Launches Monthly Schedule Flights
Pathways Advisors Limited (PAL), a leading investment banking and financial advisory firm, bagged the Best Issuing House and Financial Advisory Firm of the Year at the 2025 edition of BusinessDay Banking and Other Financial Institutions (BAFI) Awards.
The award was conferred on PAL on Saturday, October 11, 2025, in recognition of its effort to provide accurate knowledge of financial markets tailored to clients’ needs and commitment to ethical and transparent practices in the financial industry.
Receiving the award on behalf of the company at
the ceremony held at Lagos Intercontinental Hotel, Victoria Island, the Founder and Chief Executive Officer, Adekunle Alade (FCA, MBA), described the achievement as a well-earned recognition that showcases the company’s mastery in structuring capital market solutions, advisory excellence, and deep credibility with institutional investors in Nigeria.
Co-founder/Director, Pathway Advisors Limited, Dolapo Akanbi-Alade, stated that the honour is a testament to the team’s hard work and dedication to supporting credible companies in Nigeria.
Nigeria’s major carrier, Air Peace, has announced monthly commercial flights from Lagos via Accra to Antigua and Barbados commencing from 21 December 2025.
According to the airline, this new route represents
a major step in Air Peace’s commitment to expanding Africa’s connectivity as the only carrier with direct flights from West and Central Regions of Africa to the Caribbean.
Air Peace said operating to this new destination would create new opportunities for
institutions, de-escalating immediate political tensions and creating a more predictable operating environment,” the report said.
The report however cited persistent insecurity, noting that “despite progress, pre-election jitters and the potential for targeted attacks by excluded groups remain, posing a persistent threat to 50,000-80,000 bpd of production.”
to Antigua, Barbados
tourism, trade, and cultural exchange across the two continents, which have over 300 years cultural affinity.
The new route will connect Lagos and Accra to Antigua and Barbados. This initiative, the airline said, underscores Air Peace’s commitment to expanding its global footprint and creating new gateways for African travellers to explore the Caribbean.
Building on the airline’s previous successful Caribbean operations — including its historic Lagos–Montego Bay (Jamaica) charter in 2020 and the Abuja–St. Kitts & Nevis
SAHCO Recognized as Best Aviation Service Provider
ChineduEze
The Nigerian Institute of Transport Technology (NITT) has conferred the prestigious “Aviation Service Provider of the Year 2025” award on Skyway Aviation Handling Company Plc (SAHCO) in
recognition of the company’s exceptional innovations, operational excellence, and significant contributions to the development of the transport and aviation industry in Nigeria. The award was presented during the NITT Annual Award and Dinner Ceremony, haeld at the
Nicon Luxury Hotel, Abuja, at the weekend. The event brought together leading figures from government, academia, and the private sector to celebrate outstanding achievements in the country’s transport and logistics sector.
In his remarks at the
ceremony, Director-General/ Chief Executive of the Nigerian Institute of Transport Technology, Dr. Bayero Salih Farah, commended SAHCO for its unwavering dedication to quality, safety, and innovation in aviation ground handling services.
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 16 October 2025, unless otherwise stated.
Offer price:
Coronation Group Reinforces Commitment to Sustainability, Corporate Citizenship
Kayode Tokede
Coronation Group said it has concluded its second annual brand and sustainability week with a comprehensive initiative to underscore the financial services conglomerate’s commitment to environmental, social, and governance (ESG) principles, while strengthening its position as Africa’s prosperity partner.
Running from 22 to 26 September 2025, the weeklong programme brought together teams across Coronation’s four business
segments—Insurance, Asset Management, Banking, and Technology—to engage in activities centred on sustainable business practices and corporate citizenship.
“Creating sustainable wealth extends beyond financial returns,” said Ngozi Akinyele, Chief Marketing and Communications Officer at Coronation Group, who oversees the Group’s sustainability initiatives. It requires us to consider our environmental footprint, our social impact, and the governance structures that ensure we remain accountable to every stakeholder. This week
reinforces our belief that true prosperity cannot be built on practices that compromise the future we’re trying to secure.”
Building on the success of the inaugural edition held in October 2024, this year’s programme featured educational sessions, collaborative workshops, and community-focused activities designed to translate awareness into tangible action. The week served as both a mirror and a catalyst, reflecting Coronation’s values whilst propelling the organisation towards deeper integration of ESG principles across all touchpoints.
Capital Market Solicitors Elects Eyisanmi New Chairman
Sunday Ehigiator
The Capital Market Solicitors Association (CMSA) recently held its Annual General Meeting (AGM), marking the end of the two-year tenure of its Chairman, Mr Odiaka Vincent Iweze, thereby electing Simisola Eyisanmi as the new chairman to pilot the association’s affairs for the next two years.
Speaking to THISDAY after the AGM, Iweze highlighted the association’s major accomplishments, including its active engagement with the National Assembly
during the passage of the Investment and Securities Bill, which was eventually signed into law by President Bola Tinubu in March 2025.
According to him, “We participated in the public hearing and presented a 29page memorandum on behalf of capital market lawyers in Nigeria, outlining our reservations and proposed amendments to the bill,” he said.
“The sessions helped practitioners and stakeholders understand the key provisions of
the new ISA and how it positions the growth market,” Iweze explained.
On financial performance, Iweze reported significant growth in the association’s finances over the past two years.
According to him, “When we assumed office, the association had about N20 million in its account. Today, we are leaving N44 million plus. We have 137 active members who contribute annual dues, and we also get sponsorships from law firms. At our business summit, we raised about N59 million, spending only N38 million.”
Terra Cube Unwraps Joy Beyond Big Brother Naija House
As the curtain fell on the tenth season of Big Brother Naija, one brand stood out for bringing unmatched flavor, fun, and joy to millions of viewers across the country: Terra Cube.
Themed “House of Joy,” Terra’s presence in the Big Brother house this season was not just about food. It was about creating moments that brought people together, laughter that echoed beyond the walls of the house, and experiences that left a lasting impression on fans at home.
While the season carried the official theme “10/10,” Terra made its own twist, matching that same spirit of excellence with activities that truly scored a ten out of ten in entertainment, engagement, and creativity. From seasoning meals that filled the house with irresistible aroma to hosting one of the most talked-about task nights, Terra turned the house into a space of pure excitement.
The Terra Task became one of the defining
highlights of the show. Housemates were divided into two teams, Team Unwrap Joy and Team Unleash Taste, and dressed in Terra-branded outfits that combined comfort with style. The night kicked off with the Terra Beef Roast Ring, a friendly roast session staged like a wrestling ring, complete with playful banter and cheers from fellow housemates.
Then came the Terra Chicken Hunt, an energetic and hilarious challenge that got both housemates and fans talking. Live chickens were brought into the house, and participants had to search for hidden codes that earned their teams’ points. But the excitement did not stop within the house. Terra extended the fun to fans at home through the Meme O’clock challenge, a live engagement activity that kept viewers actively participating in real time. Fans were invited to create and share hilarious memes inspired by the ongoing
tasks while tracking their leaderboard scores on an interactive dashboard. The result was an engaged online community that laughed, competed, and connected through the Terra experience, proving that the brand’s House of Joy truly went beyond the screen.
Moments from the event became a social media sensation, with clips of the Beef Roast Ring and Chicken Hunt trending across platforms. Fans could not get enough of the laughter, energy, and fun that filled the house that evening.
Probal Bhattacharya, Chief Marketing Officer, TGI Group, shared, “We are truly glad about the reactions and comments from consumers who enjoyed our presence in the Big Brother house. It has been exciting to see how Nigerians connected with the Terra experience. Big Brother Naija may have ended, but we remain in the business of unwrapping joy and unleashing taste with Terra Cube across the country.”
(Gabon), Iran Heavy (Islamic Republic
Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
L-R: 2nd Vice President, Chartered Institute of Stockbrokers (CIS), Dr Akeem Oyewale; 13th President and Chairman of Council, Oluropo Dada; Deputy Chief of Staff to President in the Office of Vice President, Senator Ibrahim Hadejia; 1st Vice President, CIS, Fiona Ahimie and Registrar and Chief Executive, Ayorinde Adeonipekun at 29th Stockbrokers’ Conference in Abuja at weekend
At N650 per Share, BUA Foods Approaches N12trn Market Cap
Kayode Tokede
The stock price of BUA Foods Plc closed trading activities last week at N650 per share to hit its 52-week high with market capitalisation moving towards N12 trillion.
In its Year-till-Date (YtD) trading on the Nigerian Exchange Limited (NGX),
stock price of BUA Food has appreciated by 56.6per cent or N235 per share from N415 per share it closed for trading activities in 2024.
Closing last week at N650 per share, the market capitalisation of the leading food and Fast-Moving Consumer Goods (FMCG) company stood at N11.7trillion and contributing 12.4per cent
of the overall N94.560 trillion market capitalisation of listed companies.
The N11.7 trillion market capitalisation as of October 17, 2025 makes BUA Foods the most capitalised company on the NGX, followed by Dangote Cement Plc with N10.12 trillion and MTN Nigeria Communications Plc, N9.96trillion.
BUA Foods was listed on NGX by introduction January 5, 2022 on the mainboard. A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the Consumer Goods sector of NGX.
Between January 2022 and October, 17, 2025 the stock price of BUA Foods has gained 1525per cent or N610 per share
, while its market capitalisation has added .N10.98 trillion from the N720 billion it was listed 2022.
Capital market analysts have attributed the growth in stock price of BUA Foods to impressive half year (H1) ended June 30, 2025 performance, diversified product portfolio and investor sentiment &
speculation. Despite a delay in filing its third quarter (Q3) 2025 financial results due to internal data migration issues, the company has communicated transparently with shareholders, setting a new deadline of November 14, 2025. This openness may help maintain investor trust, capital market analysts noted.
PRICES FOR SECURITIES TRADED ASOF OCTOBER /16/25
FOCUS
At GS-25, Calls for Robust Inclusion, End to Tokenism Continue
The recent two-day Gender and Inclusion Summit 2025 (GS-25) organised by the Policy Innovation Centre (PIC) in Abuja drew a vibrant mix of voices, including government officials, development partners, civil society actors, private sector leaders and young innovators. Emmanuel Addeh writes that they were united by one demand: that inclusion of Nigeria’s most vulnerable groups must move from tokenism to transformation and institutionalisation.
The GS-25 built on the momentum of earlier editions but shifted its focus from awareness to measurable delivery. Convened under the theme: “New Voices and New Approaches for Accelerating an Inclusive Society,” the summit interrogated how Nigeria could embed gender equity and social inclusion into policy, governance, and investment.
From the outset, it was clear that the gathering was not a ceremonial event. The tone was sober, urgent, and reformist. In all, participants agreed that the country could no longer afford a system that measures progress only by policies announced, rather than by the number of lives changed.
Financing Inclusion
At the event, financing was one of the most heavily debated themes. Experts from both public and private sectors made the case for a sustainable, homegrown framework to fund inclusion, arguing that external aid cannot substitute for political will.
Besides, panelists discussed innovative models such as gender-responsive budgeting, blended finance mechanisms, and catalytic funds to de-risk women-led businesses. The discussion emphasised that inclusion, if properly structured, is not a cost but a multiplier, one that drives productivity, improves governance, and enhances social stability.
By the end of the sessions, a consensus emerged that the next phase of Nigeria’s inclusion agenda must be anchored in financial systems that reward equity. Gender equality, the participants agreed, should be seen as an investment in national growth, not a philanthropic gesture.
The Innovation Drive
True to its reputation for evidence-based and solution-driven convenings, the PIC introduced a pitchathon, an interactive platform for entrepreneurs, researchers, and innovators to present scalable ideas addressing exclusion.
Projects showcased ranged from tech tools that bridge gender gaps in market access, to assistive technologies for persons with disabilities, and data-driven maternal health solutions for underserved communities.
The atmosphere around the exhibition stands was as animated as the plenary sessions. Young innovators found themselves in conversation with donors and policymakers, turning a typical conference space into a live incubator for inclusion-oriented ideas.
Political Economy of Inclusion
Besides, GS-25 did not shy away from the political realities that shape policy implementation in Nigeria. Speakers pointed out that inclusion often stalls, not because of poor intentions, but because of the structural incentives that sustain inequality, from patronage networks to uneven subnational capacities.
Several discussants argued that without accountability, transparency, and enforcement, the country’s best policies would continue to exist only on paper. They called for a redesign of governance systems that ensures inclusion becomes a measurable outcome in budgets and performance reviews.
Others noted that while ministries and development partners have made progress, real change will depend on aligning state and local governments with the national inclusion framework. The call was clear: inclusion must stop being a national slogan and start being a local reality.
Voices from the Field
“After the gender summit, everybody goes to rest, but we don’t go to rest because our real burden is to ensure that we can translate everything coming from here into real solutions for the future.”
That was a quote from the Executive Director
of the Policy Innovation Centre, Dr Osasuyi Dirisu, a key figure in the organisation of the annual programme.
Over two days, more than 1,600 delegates from 29 countries across five continents gathered in Abuja, with thousands more joining online, engaged with over 150 speakers and panelists, all united by a single goal: advancing inclusive development and gender equity across Africa.
For the organisation, Africa’s first national institutionalised behavioural insights initiative, GS25 represented both a convening power and a strategic instrument. From the outset, the Gender and Inclusion Summit was conceptualised as a platform to catalyse evidence-based agenda setting, human centred policies, institutional and societal transformation, as well as sustained advocacy for gender equity and gender responsive governance in Africa.
“This summit is different. It is not just a conversation platform; it is an advocacy platform. First, we agree on the real problem, is it absent or ineffective policies? Then we bring all stakeholders together to co-create solutions. And the work doesn’t end there.
The conversations and recommendations go into the Purple Book, which we use to ensure these ideas turn into real action,” said Dirisu.
Since its inception in 2022, the Summit has convened notable national and international leaders to generate innovative insights and propose actionable solutions for inclusive growth. The summit is delivered as a threeday hybrid event, featuring plenary sessions, breakout sessions, learning workshops, oral and poster abstract presentations, innovation pitches, as well as an exhibition booth display.
It offered a platform for a rich mix of discussions across multiple sectors, reflecting the summit’s commitment to inclusive development.
In a session on education, Minister of Education, Dr. Tunji Alausa, noted that: “The best investment any country can make is to educate a woman,” while exploring innovative ways the current administration is adopting to expand access to quality and inclusive education in Nigeria. Sessions on equity and inclusion tackled shifting norms, building inclusive households, and bridging workplace gaps for persons with disabilities.
The women in leadership track highlighted strategies for strengthening women’s representation in cabinets, boardrooms, and academic institutions, while economic empowerment sessions showcased the transformative role of First Ladies and policydriven initiatives.
In health, discussions focused on maternal care, adolescent wellbeing, and family planning as cornerstones of gender equity, and agriculture and nutrition sessions explored sustainable, inclusive solutions for food security. The summit also spotlighted innovation and evidence: N5 million in prizes and scholarships were awarded to standout innovation pitches, and research presentations.
With over 60 presentations showcasing bold, actionable solutions across gender, education, health, agriculture, and economy. In addition to these sectors, GS25 also embraced faith, security, and technology, examining community-led models for GBV prevention, integrating civilian voices into peacebuilding, and harnessing technology for social impact. Across all themes, GS25 emphasised new voices, fresh approaches, and actionable strategies to drive systemic change in Africa.
“Inclusion is not abstract theory, it is the difference between hunger and hope, between survival and dignity,” emphasised the Minister of Women Affairs & Social Development, Imaan Sulaiman-Ibrahim.
These principles were evident throughout the summit; it fostered a vibrant, inclusive environment beyond plenary sessions and technical discussions: friendships were rekindled, new networks formed, and participants engaged meaningfully with vendors and innovators at exhibition booths.
Persons with Disability (PWD) participated richly in the discussions, children were cared for in a dedicated crèche, while nursing mothers fully participated, underscoring the enabling environment. GS25 was as much about lived experiences as it was about policy.
The Purple Book
“I strongly believe that the results of this summit will be instrumental in shaping policies and programmes that are not only responsive but transformative,” said the Minister of State for Health and Social Welfare, Dr. Adekunle Salako, underscoring the summit’s forwardlooking impact.
The next chapter of GS25’s legacy, the organisers
said, will be the Purple Book 2025. The flagship publication documents summit insights, track commitments, and provide a roadmap for governments, civil society, and the private sector. More than a record, it is a compass, guiding leaders as they turn commitments into measurable impact.
Through GS25, a series of forward-looking initiatives were set in motion across policy, youth engagement, health, education, economic empowerment, and innovation. First Ladies pledged to domesticate the Women’s Economic Empowerment Policy, while PIC partnered with CoSPAL to advance a Pan-African Gender and Social Inclusion Legislative Agenda. Youth voices will be embedded through the development of a Nigerian Dream Charter, and evidence-based interventions will address mobility, safety, and economic diplomacy challenges. Health and education initiatives will strengthen maternal and adolescent services and integrate nutrition education into schools. Grassroots women’s economic empowerment will be expanded through partnerships with market associations and financial institutions, and structural innovations, including support for Innovation Pitch winners and the Inclusive Civil–Military Engagement Platform (ICMEP), will ensure ongoing collaboration. All of these planned initiatives will be tracked and guided through the Purple Book 2025, PIC’s flagship roadmap that translates summit insights into measurable action and lasting impact across Africa.
As the Minister of Foreign Affairs, Yusuf Tuggar, stressed: “Growth without inclusivity is fragile, and prosperity without equity is unsustainable.”
GS25 showed that Africa is ready for Inclusive Development. But readiness alone is not enough. It must be followed by accountability, evidence, and sustained action. The Policy Innovation Centre said it is committed to ensuring that the momentum of GS25 becomes the foundation for a more inclusive, resilient, and equitable Africa. The collective responsibility is to ensure that inclusion does not remain an aspiration but becomes the lived reality for every citizen.
From Commitment to Continuity
The closing sessions were both reflective and practical. Government representatives reaffirmed their ministries’ willingness to align with the summit’s outcomes. Development partners pledged support for post-summit technical working groups and pilot projects.
PIC’s Chief Executive, Dirisu, announced plans for three immediate steps: publishing the updated Purple Book within the next quarter; convening multi-sectoral working groups to monitor implementation; and piloting gender-responsive budgeting in select states before the next summit cycle.
The Road Ahead
GS-25 closed with both hope and realism. Participants recognised the gains made in awareness and policy formulation, but they also admitted that Nigeria’s greatest challenge lies in translating consensus into continuity.
The Policy Innovation Centre’s work is now cut out: shepherding the transition from conversation to implementation, ensuring that inclusion metrics inform national planning, and pushing ministries to allocate real budgets to equity goals.
For many, the 2025 edition of the summit marked a turning point, a shift from rhetoric to resolve. As participants re-echoed, the test of GS-25 will not be in the communique issued, but in the measurable progress recorded. The applause that followed was not for inspiration, but for responsibility and the understanding that inclusion is not a favour done for the marginalised, but the foundation upon which a fair and prosperous Nigeria must now be rebuilt.
Executive Director, PIC, Dr Osasuyi Dirisu
L-R: Founder, Women at Risk International Foundation, Dr Kemi Ibru ; Chairman, Policy Innovation Centre(PIC), Mr. Udeme Ufot; Founder, Gam Africa Institute for Leadership (GAIL), Gambia, DibbaWada; Minister, Women Affairs and Social Development, Imaan Sulaiman-Ibrahim; Chair, Nigeria Economic Summit Group (NESG), Olaniyi Yusuf; GS25 Technical Advisory C’ttee Chair, Hansatu Adegbite; Executive Director, PIC, Dr. Osasuyi Dirisu and Country Director, Plan International Nigeria, Dr Usie Charles at the Summit in Abuja.
LAGOS AT THE 4TH FUTURE FORUM OF EU GLOBAL DIASPORA FACILITY...
CPPE Commends Attorney General’s Clarification on Beneficiaries of Prerogative of Mercy
Says leniency towards economic crimes will undermine growth
Dike Onwuamaeze
Centre for the Promotion of Private Enterprise (CPPE) has commended the Minister of Justice and Attorney General of the Federation (AGF), Mr. Lateef Fagbemi (SAN), for clarifying that the recently published list of beneficiaries of the presidential prerogative of mercy is not final.
The commendation was contained in a policy brief, titled, "The Economic and Investment Implications of the Prerogative of Mercy," which was issued yesterday by Chief Executive Officer of
CPPE, Dr Muda Yusuf. Yusuf pointed out that the clarification was important because Nigeria’s aspiration to build a competitive, diversified, and globally respected economy should rest on the credibility of its institutions and integrity of its governance, which the perception of impunity or leniency towards economic crimes was incompatible with.
He said, "To preserve investor confidence and social stability, government must demonstrate unwavering commitment to accountability and the rule of law.
"The credibility of Nigeria’s economic reform and investment agenda depends on it."
Yusuf said the clarification coming from the AGF, who is also Chairman of the Presidential Advisory Committee on Prerogative of Mercy, "reflects the responsiveness and sensitivity of the administration to public sentiment."
According to him, the public outcry that greeted the initial announcement of the pardons was deep and legitimate.
Yusuf stated, "The inclusion of persons convicted of
corruption, financial crimes, murder, drug trafficking, and illegal mining raised profound concerns about governance credibility, institutional integrity, and investor confidence."
He said while the prerogative of mercy was a legitimate constitutional instrument, "its application to serious economic and financial offences demands utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption and drug control."
He also highlighted the far-reaching economic and social consequences of extending presidential pardon
FG Hails Launch of First African Aeronautical Varsity
Women ministry pledges to enroll 100 girls from 6 geopolitical zones
The federal government has commended the launch of the Isaac Balami University of Aeronautics and Management, IBUAM, describing it as a revolutionary step in the aviation sector.
The institution's unique combination includes a flying school, aviation professional training, Maintenance, Repair and Overhaul facilities, thereby making it the first
Experts
of its kind in Africa.
Speaking yesterday at the unveiling, Minister of Aviation, Festus Keyamo, emphasized the university's establishment aligns with the government's five-point agenda, which includes supporting local entrepreneurs and human capital development.
Citing a Boeing study and the growing demand for aviation professionals in Africa, Keyamo predicted that African aviation will be
the fastest-growing sector in the next few years, and emphasized the need for institutions to produce skilled professionals to meet this demand.
"The launch of the Isaac Balami University of Aeronautics and Management is seen as a significant step in addressing the shortage of aviation professionals in Nigeria and Africa.
to offenders convicted of corruption, financial fraud, illegal mining, murder, and drug-related crimes.
Yusuf stated, "Illegal mining undermines legitimate enterprise, depletes national revenue, and fuels insecurity in mining communities.
"Corruption and financial crimes distort markets, weaken institutions, and discourage fair competition.
"Drug trafficking and related offences tarnish Nigeria’s global image, exacerbate insecurity, and impose grave social costs."
Yusuf warned that "at a time when Nigeria is striving to diversify its economy, attract investment, and restore global confidence, such acts of liberal clemency risk sending disturbing and counterproductive signals".
According to him, leniency towards financial and economic crimes would erode deterrence, weaken enforcement, and signal tolerance for misconduct and undermine respect for law and governance credibility.
US, UK, DRC-bound Illicit Drug Consignments Intercepted in Frozen Snails, Electrical Bulbs
Michael Olugbode in Abuja
"The Isaac Balami University of Aeronautics and Management is set to play a critical role in shaping the future of aviation education and professional development in Africa. With its innovative approach and commitment to excellence, the university is poised to become a leading institution in the sector."
"The university's unique combination of training programs is expected to provide students with the skills and knowledge required to succeed in the industry.
Demand Justice Reform, Say Death Penalty Has Failed to Deter Crime
Wale Igbintade
Stakeholders have renewed calls on the Nigerian government to abolish capital punishment and replace it with life imprisonment, urging authorities to amend
relevant criminal laws and remove the death penalty as a form of punishment. They also advocated a justice system that prioritises victims’ genuine needs through restorative and humane measures rather than retribution.
The legal experts made these calls during the commemoration of the 23rd World Day Against the Use of the Death Penalty, themed “Death Penalty Protects No One”, and at the launch of The Inclusion Project (TIP)’s documentary
titled “Justice Reimagined: Voices of Loss.”
The documentary amplified the voices and experiences of victims of capital offences, offering a rare and powerful perspective on the use of the death penalty in Nigeria.
Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted consignments of illicit drugs concealed in frozen snails, electrical bulbs and female clothes heading to the United States of America (USA), United Kingdom (UK), and Democratic Republic of Congo (DRC), at the Murtala Muhammed International Airport (MMIA) and a courier company in Lagos.
The spokesman of the anti-narcotics agency, Femi Babafemi, in a statement on Sunday, said at least, two suspects linked to attempts to export the illicit substances had already been taken into custody.
He disclosed that one of them, a cargo agent Boladale Riliwan, was arrested on October 7 following the discovery of 15 parcels of skunk, a strain
of cannabis, concealed in 10 pieces of giant rechargeable electrical bulbs he presented in a carton for airfreight to Democratic Republic of Congo (DRC) at the export shed of the Lagos airport.
Another suspect in custody was 48-year-old Olawale Hakeemot, a UK-based Public Health Assistant, arrested on October 12 at the departure hall of Terminal 2 of the Murtala Muhammed International Airport, Ikeja, following the discovery of frozen snails used to conceal 2,300 pills of tramadol 225mg in her luggage, while heading to Manchester, United Kingdom, on a Qatar Airways flight.
Babafemi said attempt by another syndicate to export 810 pills of bromazepam hidden in female clothes going to the United States was also thwarted by NDLEA officers at a courier company in Lagos last Thursday.
Kuni Tyessi in Abuja
L–R: President of Alissar, Lebanon–France, Mustapha Elriz; Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka; and Diaspora Relations Lead, EU Global Diaspora Facility (EUDiF), Hala Tarabay, during Practice Exchange 3: Digital Innovation as a Vector of Development at the 4th Future Forum organised by EUDiF, held in Belgium… recently
29TH ANNUAL STOCKBROKERS CONFERENCE...
NAFDAC Boss, Adeyeye, Pushes for Local Vaccine Manufacturing Before Leaving Office
Director General of National Agency for Food and Drug Administration and Control (NAFDAC), Professor Mojisola Adeyeye, has expressed the hope that the country would manufacture vaccines before she leaves office.
Adeyeye said the regulatory agency was currently working on the final stage towards securing Maturity Level 3 status (ML3) for locally manufactured vaccines.
She said Nigeria had already gotten ML3 for medicines and imported vaccines since 2022.
According to her, the regulatory system for local vaccine manufacture is already well established in the country, but the agency is waiting for local manufacture of vaccine to begin before activating it.
Adeyeye challenged manufacturers of pharmaceutical products in the
country to take the necessary investment decisions that will facilitate the production of human vaccines in Nigeria.
In a statement signed by NAFDAC's Resident Media Consultant, Sayo Akintola, the director-general said the agency had been conducting Lot Release testing on imported vaccines in her laboratory for years.
Adeyeye said, "WHO wants to know that we can also effectively monitor locally manufactured ones.
"This is where we are as a country, and I pray that within a short time, we will be able to manufacture our own vaccines.
"WHO came last year, they saw everything that we have as a regulatory agency on indicators for vaccine Lot Release; we have almost satisfied everything except that the country must manufacture vaccines because it’s when
we manufacture vaccines that we can do local facility inspections."
Adeyeye warned that Nigeria should not wait for another pandemic before getting prepared. She said the country should avoid being caught unawares, as witnessed during COVID-19, when the country depended on international donors to survive the scourge.
For NAFDAC to be benchmarked for vaccines, biologics and medical devices, Adeyeye said it had to have a separate directorate headed by a director to ensure that it aligned with international best practices.
Currently, she said Nigeria was operating at the same level as advanced countries of the world.
Adeyeye said the agency had to separate vaccines, biologics, and medical devices in November 2024 to form one
directorate, following the Head of Service of the Federation’s assessment, evaluation, and sanction, to ensure that it would be a viable directorate with operating units.
Adeyeye, who will be three years into her second tenure in office, expressed the hope that the country would manufacture vaccines before she leaves office.
She said, "It will be exciting news for me, because during the pandemic we were too dependent on foreign countries.
"We couldn’t get any vaccines unless from outside the country. That was when the preparedness for epidemics became a reality for us."
She stated that the agency now had guidelines for emergency preparedness for epidemics and pandemics.
According to her, "When I came to NAFDAC, we had the Registration and Regulatory Affairs Directorate, which
CAPPA Warns Against Water Privatisation, Says Policy Will Deepen Poverty
Urge African government to reject loans tied to water privatisation
The Corporate Accountability and Public Participation Africa (CAPPA) have warned African governments against the privatisation of water, describing it as a policy that worsens poverty and undermines citizens’ access to a vital resource.
Speaking at a press conference recently held in commemoration of the Fifth Africa Week of Action against Water Privatisation,
convened by Our Water Our Right Africa Coalition (OWORAC) in partnership with the Make Big Polluters Pay (MBPP) Africa Coalition, CAPPA’s Programme Officer for Water Campaigns, Sefa Ikpa, urged governments across the continent to reject loans tied to privatisation conditions.
Delivering the press text themed, ‘Public Water for Climate Resilience’, Ikpa said water privatisation has consistently proven to be a
“poverty trap” that enriches corporate actors at the expense of ordinary citizens.
“The choice of this year’s theme reflects the reality and severity of the moment,” she said.
was in charge of registration of all NAFDAC-regulated products, meaning the registration of food, drugs, cosmetics, medical devices, herbal medicines, vaccines, veterinary products, pesticides, and other finished chemicals was under one Director, which made the system susceptible to ineffectiveness and corruption.
"I first carved out the Food Registration and Regulatory Affairs Directorate, and what was left over was still huge,
If you want good governance and leadership, you must have governable units, governable groups.
"One Director overseeing seven regulated products will not achieve the necessary efficiency. That was why we knew that we had to separate vaccines and medical devices from the Drug Registration and Regulatory Affairs Directorate.’ NAFDAC became Maturity Level 3 in 2022 for medicines and imported vaccines.".
Ongoing Revenue Harmonisation in FCT to Curb Double Taxation, Simplify Payments, Says Tax Expert
Kasim Sumaina in Abuja
Residents and businesses within the Federal Capital Territory (FCT) will soon begin to experience the positive impact of the ongoing revenue harmonisation drive spearheaded by the FCT Internal Revenue Service (FCT-IRS) and the Federal Capital Territory Administration (FCTA).
event provided participants with insights into the new tax laws taking effect on January 1, 2026.
He highlighted the importance of understanding the upcoming changes, their implications for both government agencies and taxpayers and the need for strategic alignment ahead of implementation.
Ikpa noted that in regions like the Horn of Africa, successive droughts have dried up rivers and wells, leaving millions dependent on humanitarian aid.
Her words: “We urge African governments to put human need before financial returns and call on international institutions to end the destructive practice of tying privatisation conditions to loans.
“Africa faces multiple and overlapping environmental challenges, and climate change in particular often reveals itself most forcefully through water. Across the continent, prolonged droughts, devastating floods, and unpredictable rainfall are disrupting lives and livelihoods.”
The initiative aims to eliminate multiple taxation and levies, simplify payment processes and enhance the ease of doing business across the Territory by introducing a unified revenue collection and reconciliation framework.
Chief Technical Officer of INITS Limited, Mr. Femi Taiwo, noted the harmonisation effort is already well underway and is designed to address long-standing issues caused by siloed collection systems.
Taiwo gave the hint during the weekend at a sensitisation program in Abuja, stating the
According to him, INITS Limited is working with the FCT authorities to deploy technology-driven solutions that integrate revenue-generating agencies under a single digital platform, providing taxpayers with a unified payment identity and a central view of all their tax obligations.
“The ongoing harmonisation process is a critical step towards improving transparency, simplifying reconciliation and removing the duplication that causes confusion and unnecessary stress for businesses and individuals,” Taiwo explained.
Onyebuchi Ezigbo in Abuja
Sunday Ehigiator
L–R: Second Vice President, Chartered Institute of Stockbrokers (CIS), Akeem Oyewale; 1st Vice President, CIS, Fiona Ahimie; Chairman, House Committee on Capital Market, Bob Solomon; President, Securities and Exchange Commission, Oluropo Dada; Deputy Chief of Staff to the Vice President, Ibrahim Hadejia; and Director General, Securities and Exchange Commission, Emomotimi Agama, during the 29th Annual Stockbrokers Conference themed Charting Pathways for Economic Transformation in Abuja… recently KINGSLEY ADEBOYE
NACA'S DIRECTOR GENERAL VISIT TO NEMA...
Mining: Akpoti-Uduaghan Demands Full Disclosure, Queries Alleged Missing Revenue from Solid Minerals Fund
The Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has called on the federal government to publish all agreements and Memoranda of Understanding (MOUs) entered into with investors in the mining and solid minerals sector, insisting that transparency must precede accountability.
A statement from her Media Office on Sunday, explained that the Senator spoke during a Senate session on solid minerals oversight.
Akpoti-Uduaghan, the statement added, urged the Ministry of Solid Minerals Development to invoke the Freedom of Information Act and make all contractual documents available both to the National Assembly
and the general public.
She said such openness was crucial for building citizens’ trust and preventing the mistakes that have long plagued Nigeria’s oil industry.
She said, “We would like them to be made available to Nigerians, all the various MOUs you have entered into.
“It’s from when you begin to disclose your engagements and contracts that we can
begin to say our government is transparent. And it’s from transparency that Nigerians can begin to hold our government accountable.”
The senator, a lawyer and development advocate, noted that Nigeria could not meaningfully demand accountability in the solid minerals sector if basic transparency mechanisms were absent.
Aisha Babangida Urges FG, States to Adopt Inclusive Procurement Reforms
Cites Kaduna model as blueprint for national growth
Founder of the Women Entrepreneurs Association (WenA), Aisha Babangida, has urged the federal and state governments to emulate Kaduna State’s gender-inclusive procurement reforms, describing them as a model for driving national growth and women’s economic empowerment.
Speaking in Abuja at the 5th WenA SME Conference, themed “Policy Reforms and Resilience Strategies for SMEs in a New Economy,” she praised the Affirmative Action Procurement Reform Initiative led by UN Women with support from the African Development Bank (AfDB) and Women Entrepreneurs Finance Initiative (We-Fi). Babangida noted that
the Kaduna model, which reserves a percentage of public contracts for women-led businesses, waives registration fees, and ensures female representation on procurement boards, has demonstrated that inclusive procurement is not just an economic strategy; it’s a catalyst for national development.
According to her, “Kaduna’s model is proof that when
we open doors for women entrepreneurs, we unlock prosperity for all,” Babangida told delegates. She revealed WenA’s new initiative to train and certify women entrepreneurs to access procurement opportunities, urging policymakers to “move from dialogue to action” and replicate Kaduna’s reforms nationwide.
The Federal Ministry of Labour and Employment has called for stronger synergy between states and federal authorities in the fight against child labour and gender-based violence(GBV).
The State Controller of Labour in charge of Abia, Dr. Helen Okpara made the call in Umuahia during a courtesy visit to Governor Alex Otti following her resumption of duty in the state. However, the controller decried lack of adequate police cooperation in efforts
to checkmate child labour and GBV, saying that progress has been stalled in the fight due to the non-committal attitude of the police.
She said that FMLE was desirous of collaborating with Abia workers to assist them sharpening their skills and attaining optimal productivity.
Mrs. Okpara advocated the establishment of a functional skill acquisition centre in Abia to empower youths who could not continue their education to the tertiary level. According to her, the trainees on completion of the programme, would be issued
internationally recognised trade test certificates with which they would make decent living by getting good jobs or becoming self-employed.
The State Controller, praised Otti for his infrastructural strides and welfare reforms that have transformed the state’s labour environment.
She noted the improved road network in Aba has provided a major boost for businesses and industrial operations in the state, adding that government's prudent financial management was commendable.
Okpara expressed appreciation to the Abia
governor for ensuring prompt salary payments, and ongoing efforts to clear the huge salary arrears left by the immediate past administration.
She specially cited the Abia State University Teaching Hospital (ABSUTH), Aba, which she said had previously suffered incessant strikes due to unpaid salary arrears.
On the recent employment of over 5,000 teachers by the Abia government, the Controller described the massive recruitment as a bold step that has lifted many families out of poverty, which aligns with FG's policies.
She urged the ministry to take advantage of the digital era by publishing all relevant documents on its official website for public access.
She said, “We are in the digital age, and it won’t take much to publish all this information.
“We cannot demand accountability if the various MOUs are not made public. Nigerians deserve to know who is exploiting their resources and under what terms.”
Akpoti-Uduaghan, who represents one of Nigeria’s most mineral-rich regions, tied her call for openness to the plight of her constituents in Kogi Central.
She lamented that despite
hosting over 52 commercially viable mineral deposits; her people have remained trapped in poverty while foreign and local interests profit from their natural endowments.
She said, “Kogi State, particularly Kogi Central, has over 52 solid minerals in commercial quantity. Yet we are people impoverished in the land of plenty.
“Each time I meet with my communities, they ask when they will begin to benefit from these abundant minerals.”
The lawmaker expressed surprise at her recent discovery of Nigeria’s untapped wealth in precious stones such as ruby, emerald, and tourmaline.
Group Vows to Break Circle of Hunger, Malnutrition in Kano
Ahmad Sorondinki in Kano.
A UK-Aid funded project known as Propcom project has vowed to address the cycle of hunger and malnutrition among poor Nigerians by strengthening agricultural productivity in the country.
The Country Representative and Political Director, Dr. Adiya Ode, made the declaration during her presentation at the Nutritious Food Fair held to mark World Food Day 2025 Friday in Kano.
She explained that Propcom has, interest in supporting Nigeria’s ongoing reform efforts, with a particular emphasis on enhancing agricultural productivity and improving livelihoods especially in conflict - and climate-affected regions.
She noted that Propcom is committed to supporting Nigeria's reform initiatives, prioritizing agricultural productivity and livelihood improvement in regions
impacted by conflict and climate challenges.
"At Propcom, we are committed to driving this transformation through climate-smart and marketdriven solutions that empower smallholder farmers and promote sustainability"
"A central part of our work supports the production, aggregation, and offtake of improved and nutrient-dense crop varieties - such as Vitamin A maize, Orange-Fleshed Sweet Potato, Iron Pearl Millet, Cowpea, and Groundnuts.
“These crops are more resilient to climate challenges and rich in essential nutrients that help combat hidden hunger" she said.
Dr. Ode cited the partnership with the Kano State Government and HarvestPlus, which she said has strengthened the seed-to-shelf value chain for nutrient-dense foods, ensuring that farmers earn more, consumers eat better, and markets grow stronger.
Sunday Aborisade in Abuja
Kuni Tyessi in Abuja
L–R: Director General, National Emergency Management Agency (NEMA), Mrs. Zubaida Umar; and Director General, National Agency for the Control of AIDS (NACA), Dr. Temitope Ilori, during the visit of the Director General, NACA, to NEMA Headquarters in Abuja… recently
Ugwu-Nwogo in Umuahia
NETWORKING FOR 2027...
ADC: No Defections Can Save APC in 2027
Says ruling party has realised it’s
more hated by Nigerians
Chuks Okocha in Abuja
African Democratic Congress (ADC) has reacted to comments by National Chairman of All Progressives Congress (APC), Dr. Nentawe Yilwatda, that “key ADC figures” would join the ruling party next week, saying the gale of defections would not save APC in 2027.
ADC, in a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, said the scramble for APC
Again, Group Empowers 100 Ogoni Youths on Solar Installation, Maintenance
Blessing Ibunge in Port Harcourt
A non-governmental organisation under the aegis of Lekeh Development Foundation (LDF), has again trained 100 Ogoni youths on free intensive solar installation and maintenance.
The training was organised by LDF with support from the United Nations Development Programme–Global Environment Facility (UNDP-GEF) Small Grant Programme.
During the graduation ceremony, held at the weekend, in Bori, Khana Local Government Area of Rivers State, Executive Director of LDF, Friday Nbani, said is a completion of a genderinclusive renewable energy skills programme aimed at empowering young people with sustainable livelihood opportunities and promoting
clean energy adoption in Ogoniland.
Nbani explained that the initiative was designed to build the capacity of Ogoni youths and reduce unemployment through renewable energy skills development.
“We operate as a communitybased organization monitoring issues of environmental degradation from oil spills to gas flaring and flooding all of which have destroyed livelihoods in Ogoni. We decided to respond through capacity building.
"This solar training is our pilot project, and we’re grateful to the UNDP-GEF Small Grant Programme for supporting our vision,” Nbani stated.
He further explained that the choice of solar energy training was strategic, given Ogoni’s long history of pollution and loss of traditional means of livelihood such as fishing and farming.
FAAC: NUPRC REMITTED N6.2TN
2025 is N6,215,462,360,057.8.
“The commission's performance from January to September 2025 is N7,554,418,148,540.38 which is inclusive of NNPC Ltd JV & PSC royalty receivables of N758,988,546,848.68 for the period of January to August 2025 and Project Gazelle receipt of N730,246,085,147.28 for November 2024 (received in January 2025), January, March to June 2025,” the report added.
FAAC is a key intergovernmental body in Nigeria responsible for
membership from across the political spectrum underscored the party’s growing realisation that it had become hugely unpopular with ordinary Nigerians, who hated the ruling party due to the hardship it had brought upon them.
The statement said, ''The attention of the African Democratic Congress (ADC) has been drawn to the declaration by the National Chairman of the ruling APC, Dr. Nentawe Yilwatda, at a stakeholders’ meeting in Jos that ‘key ADC figures’ will be
received into the APC next week.
“This statement underscores a deep realisation by the ruling party that it cannot be saved even if all the governors in Nigeria defected to the ruling party. This is why even with all the governors and senators they have been bragging about, the APC is still desperate for ADC members.
“The truth remains that the APC realises that it has become the most hated party in Nigeria, and no amount of defections can save the party from
Nigerians whose lives and the livelihoods the ruling party has destroyed since it came to power.”
ADC added, “Like we have noted earlier, the recent gale of highprofile defections to the ruling party is properly understood by ordinary Nigerians as a gang-up against the people by a ruling elite who have left the people behind in abject poverty and are only interested in self-preservation even as their people wallow in misery.
“We wonder if the APC
has run out of governors to seduce that it has now turned to shadowy references to unnamed ADC members? If these individuals are so ‘key’, let the chairman of the hated party mention their names.”
ADC said there was nothing new in the game APC was playing, saying it is the same ruinous game PDP played at the height of its powers.
“The APC will also learn the bitter lesson that real democratic power lies with the people and not a few power merchants,” Abdullahi stated.
Onyejeocha Unveils Plans for National Job Centres, Commends Mastercard Foundation’s Empowerment Strategy for Nigerian Youth
Mary Nnah
The Minister of State for Labour and Employment, Rt. Hon. Nkeiruka Onyejeocha has reaffirmed the federal government’s commitment to promoting dignified, inclusive, and transformative work for Nigerians, in line with President Bola Ahmed Tinubu's Renewed Hope Agenda.
Speaking at the Mastercard Foundation Annual Nigeria Partner Convening held in Lagos on Wednesday, Rt. Hon. Onyejeocha announced
the planned launch of the National Job Centre Project, a nationwide network of employability hubs designed to connect trained Nigerians to real job opportunities and strengthen Nigeria’s labour market infrastructure.
“The National Job Centres will integrate digital job matching, data tracking, and career advisory services to create a harmonised and inclusive system.
“They form part of a national labour framework that empowers youth to contribute
meaningfully to local industries and compete confidently on the global stage,” she said.
The Minister also unveiled the Labour Employment and Empowerment Programme (LEEP), a flagship initiative designed to enhance the employability of young Nigerians and ensure a smoother transition between training and jobs.
“Through LEEP, we are enhancing the employability of young Nigerians and strengthening the bridge between training and jobs.
REVENUE IN 9 MONTHS DESPITE OIL OUTPUT FLUCTUATIONS
distributing revenue accrued into the Federation Account among the three tiers of government, including federal, state, and local governments. It meets monthly, usually at the Federal Ministry of Finance, to consider the total revenue collected from oil and non-oil sources and then allocate it based on constitutionally approved sharing formulas. Membership includes representatives from: The federal government, through the Federal Ministry of Finance, Office of the
Accountant-General of the Federation, and Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).
The 36 state governments, usually represented by their Commissioners of Finance as well as the 774 local governments, represented through their state-level Local Government Chairmen or representatives are also on the FAAC committee.
Besides, major revenuegenerating agencies, such as the NNPC, Federal Inland Revenue Service (FIRS), and Nigerian
Customs Service (NCS), which present revenue performance reports are represented.
FAAC’s main goal is to ensure transparency, accountability, and equity in how Nigeria’s national revenue is shared and used to fund development across all levels of government.
Besides, after two months of delay, the Nigerian National Petroleum Company Limited (NNPC) has finally submitted a report to the FAAC adcommittee on discrepancies in remittances valued at over $42.3 billion, which is currently
being studied by members of the body.
On its update on the matter during the October FAAC meeting in Abuja, members received feedback that the response from the national oil company which was received on October 10, 2025 was still being vetted.
“Recall that NNPC requested for a minimum of two months grace to study the submission of Periscope Consulting regarding under-remittance of $42,373,896,555.00 and revert back. Also recall that Periscope
“Our goal is not just to create employment but to build systems that protect workers’ rights, ensure fair wages, and strengthen labour market governance,” she stated. Rt. Hon. Onyejeocha commended the Mastercard Foundation for its steadfast partnership with Nigeria through the Young Africa Works strategy, which she said has empowered youth by providing skills, creating jobs, and supporting entrepreneurship across the country.
Consulting was the Consultant engaged by the Governors Forum to examine NNPC under remittance to the Federation Account for the period 2011 to 2017.
“During the sub-committee's meeting, NNPC reported that they had submitted their response on the 10th of October, 2025 as requested. The Ad-hoc Committee set up to examine the issue was mandated to study NNPC submission and report back. This assignment is still work in progress,” the FAAC document stated.
A chieftain of Peoples Democratic Party (PDP), Gbenga Olawepo-Hashim (left), and former Senate President, Dr. Bukola Saraki, during his visit to former Governor of Kwara State in Abuja…yesterday
MAIDEN DISCOURSE SERIES ON POVERTY REDUCTION AND BOOK PRESENTATION...
Lagos, Friday
Ned Nwoko Accuses Wife, Regina Daniels, of Drug-fuelled Violence
Sunday Aborisade in Abuja
Senator Ned Nwoko, representing Delta North Senatorial District, has opened up on the recent domestic crisis involving his wife, popular Nollywood actress, Regina Daniels, attributing her alleged erratic behaviour to drug and alcohol abuse.
In a detailed statement posted on his verified X account, Nwoko said the 25-year-old actress had been struggling with substance abuse and must undergo rehabilitation for her safety and that of those around her.
His reaction followed the circulation of a viral video showing Regina Daniels in a distressed state, prompting widespread speculation about possible domestic violence in the family.
Dismissing such speculation as unfounded, Nwoko declared that the crisis was not a case of
for individual as well as institutional investors across the World.
The investor clients of these Crypto native institutions include the family offices of some of the World’s wealthiest families working closely with Swiss Private Banks. The Chief Economist of the Swiss Banking Association, Martin Hess, anchored a strategic session on integrating future ‘Tokenised’ Nigerian assets with the Swiss Banking and investment community. Also, Axel Lehmann, past
spousal abuse but “an unprovoked carnage and rampage” allegedly caused by his wife under the influence of drugs.
He said, “Regina was not always like this. Her current battle with drugs and alcohol abuse is the root of our problem. She must continue her rehabilitation programme, or I fear for her life and safety.”
The senator, who is also a lawyer and businessman, explained that he had made arrangements for his wife’s rehabilitation either in Abuja’s Asokoro area or abroad, particularly in Jordan, where she would be completely cut off from drug suppliers.
He wrote, “I have set a clear condition for her to accept rehab in Asokoro or outside Nigeria, especially Jordan, where she will not have access to drugs. Now she has moved to a place where she will have unrestricted access to drugs.”
Chairman of Credit Suisse, provided a guide for Africa’s real-world assets to gain the interest of Swiss based institutional investors, the statement added.
Special sessions on the tokenisation of real-world assets, the statement maintained, were held at EU Business School Geneva, and these were anchored by a long list of industry executives which included: Dr Pan Theo Grosse-Ruyken, founder of the PTGR AG, a Digital Asset Institution; Allison Fromm, CFO
According to Nwoko, the recent domestic upheaval, which saw property destroyed in his absence, was the result of his wife’s violent outburst while
allegedly intoxicated. He accused her of assaulting staff and damaging vehicles and household items.
“She is the violent one here, slapping and hitting
three staff in the past 48 hours and destroying property, including cars and windows, for no just cause. I have other wives, and none will ever accuse
me of violence,” he said. The senator further claimed that Regina Daniels’ violent reaction was triggered by his insistence that she undergo rehabilitation.
Stakeholders Canvass Digital Empowerment of Girls at the Hacey Summit 2025
Sunday Ehigiator
Stakeholders in education, technology, and gender advocacy have called for increased investment in girls’ digital empowerment and leadership development to ensure their active participation in shaping the future of the country.
The call was made at The Girl Summit 2025, organised recently in Lagos by the HACEY Health Initiative in partnership with Wema Bank, to commemorate the International Day of the Girl Child.
The summit, themed ‘Shaping
of Foundation for New Creative Economies; Rui Pedro Duarte, Managing Director of Loop Future (B2B Swiss Tech) and Prof Stef De Jong, the Dean of EU Business School.
Some agreements that would lead to the tokenisation of real-world Nigerian assets for the global community were signed between selected global digital asset platforms and the Global Investment Advisory community on behalf of its elite institutional members, it said.
Tomorrow: Girls’ Leadership and Digital Power’, brought together students from various secondary schools across Lagos State, development partners, and policymakers to celebrate the potential of young girls and spotlight the importance of inclusive digital opportunities.
Speaking at the event, Executive Director of HACEY Health Initiative, Rhoda Robinson, said this year’s observance highlights the role of girls not merely as beneficiaries of development but as architects of the future.
“Girls are leading not just in classrooms but in communities
Okoye, Global Investment Advisor, said: “We are very excited about our expanding global partnerships with Zug, Europe’s Crypto Valleybased digital asset markets institutions, including our technical partner Noumena Digital, and our world renowned digital asset broker, Bitcoin Suisse.
“The success of this retreat and roadshow is a testament to the fact that global collaborations are strong and very effective, especially as new financial and capital market ecosystems are being
and on digital platforms. They are coding apps that improve education and safety, creating campaigns against gender-based violence, and building climatesmart solutions,” Robinson said.
She emphasised the need to bridge the digital divide that excludes millions of girls from opportunities, urging the government, private sector, and civil society to invest in girls’ digital education and mentorship.
“We must not only open doors to girls but equip them with the tools to open doors for others. The future belongs to girls who are empowered,
designed and developed for the benefit of all mankind.
“As we in Africa continue to work hard to build out a World-Class crypto and tokenisation ecosystem for our people, we are confident that our strategic engagements and the outstanding strategic partnerships developed during our strategic sessions in Europe’s Crypto Valley, Zug, will grow into monumental wealth and value for all Nigerians and Africans alike.”
The Nigerian Delegation
connected, and confident,” she added.
Joining virtually, Programme Consultant for Nigeria and Ghana at Empower (Emerging Markets Foundation), Mr. Odi Agev, commended HACEY for providing platforms that nurture girls’ voices and digital skills.
“The world changes when girls lead. We’ve seen young women across Africa using technology to fight stigma, teach coding, and inspire their peers. Power is not given; it grows when you speak, when you lead, and when you uplift others,” he said.
on the Digital Asset Markets International Retreat and roadshow was led by the Chairman of the Nigerian Senate Standing Committee on Capital Markets, Izunaso. Other delegates included: The Group Chief Executive of Meristem Group, Suliaman Adedokun, Group Chief Executive of Futureview, Mrs Elizabeth Ebi, and a host of executive delegates representing Oando Plc, CardinalStone Partners, Meristem Securities, Nigerian Senate Committee on Capital Markets, among others.
L-R; Executive Principal, Docenti Global Business School and the book reviewer, Assistant Professor Humphrey Akanazu; Author and host, Dr Victor Ikem; Professor of Communication, University of Lagos, Prof. Adepoju Tejumaiye; Director, Poverty Alleviation Department, Lagos State Ministry of Women Affairs and Poverty Alleviation, Mrs Toyin Salami; Professor of Economics and policy at the Pan Atlantic University/Keynote Speaker, Prof. Adi Bongo and Managing Director, Folti Technologies, Mr Ahmad Damcida, during the maiden discourse series on poverty reduction and book presentation held at the Nigerian Institute of International Affairs, Victoria Island,
ABIODUN AJALA
IMPROVED RISK MANAGEMENT ON THEIR MINDS...
Soludo: Power Will Move to Anambra Central Zone After My Second Term as Governor
ADC governorship candidate, Nwosu, condemns donations to gov's campaign
David-Chyddy Eleke in Awka
Anambra State Governor, Professor Chukwuma Soludo, has promised that power would move to the central senatorial zone of the state after his second term in office. Soludo stated this at a political rally organised for him by the people of Anaocha Local Government Area of the state, on Saturday. The governor, who hails from Isuofia, Aguata Local Government Area, in the southern senatorial zone, said he would stick to the Anambra zoning formula by ensuring that after his tenure, the person that will succeed him would be from the central zone.
Soludo took over power from Chief Willie Obiano, who is from the northern senatorial zone.
Speaking at the rally, the governor said, "After my administration, I will ensure that governance is handed over to someone from the Anambra Central Senatorial District.
"This is my commitment to ensuring inclusivity and fairness in political representation. We have a zoning formula in Anambra and we will ensure it is not disrupted."
Soludo had chided some governorship candidates in the state, accusing them of wanting to disrupt the zoning arrangement.
All the 10 communities that make up Anaocha Local Government Area on Saturday endorsed Soludo as their choice.
Presidents-General of the communities, who made statements at the rally, praised Soludo for his numerous achievements in the state.
Anyanwu Petitions DSS, IGP, INEC, Alleges forgery
in PDP National Convention Plans
Want offenders investigated, prosecuted
The crisis in Peoples Democratic Party (PDP) has taken a new turn, as the party’s National Secretary, Senator Samuel Anyanwu, petitioned critical security agencies over alleged forgery of his signature.
The agencies petitioned included Department of State Services (DSS), Inspector General of Police, and Independent National Electoral Commission (INEC).
The development had further threatened the
conduct of the party’s planned November national convention.
In the petition dated October 15, 2025 and submitted to INEC, DSS, and the IGP on October 16, Anyanwu claimed that he did not sign the August 29 letter to INEC regarding the November 15–16 national convention.
The concerns centred on unresolved disputes over the South-south zonal leadership, control of party structures in Cross River, Akwa Ibom, Plateau, and other states, as
well as disagreements on the micro-zoning formula for the upcoming convention.
These disputes had now escalated into a court case seeking to stop the exercise.
In suit number FHC/ABJ/ CS/2120/25, PDP chairmen from Imo and Abia states, Austin Nwachukwu and Amah Abraham Nnanna, respectively, along with the South-south Zonal Secretary, Turnah Alabah George, accused the Damagum-led National Working Committee of breaching the party’s constitution and internal
The defendants listed in the suit included INEC, PDP, Damagum, and several other senior members.
At Tuesday’s proceedings before Justice James Omotosho of the Federal High Court, Abuja, the case was adjourned to October 16 following a disagreement over who had the authority to represent PDP.
Two Senior Advocates of Nigeria (SANs), Kamaldeen Ajibade and Chief Chris Uche, laid claim to the role of the party’s counsel. The judge
directed them to present evidence of their authorisation before the substantive hearing.
The court subsequently fixed October 20 for the main hearing and ordered all parties to exchange court documents by October 17.
Meanwhile, a letter dated October 16 signed by 14 members of the (NWC) reaffirmed the decision to remove the national legal adviser, citing alleged compromise, and to appoint Uche (SAN) as his replacement, according to a report by the PUNCH Online.
Chief Kenneth Echendu, who spoke on behalf of the presidents-general, emphasised the positive changes brought about by Soludo’s leadership. Meanwhile, the governorship candidate of African Democratic Congress (ADC), Mr. John Nwosu, challenged the donation of funds to the governor of Anambra State by various communities. Nwosu said the donations breached the electoral law, describing the development as deeply troubling.
Soludo had been moving his campaign train from community to community, and each community visited had presented to him cheques of tens and hundreds of millions of naira to support his re-election bid.
But Nwosu, who spoke with journalists, warned that the donations raised serious concerns under the country's electoral laws, as well as moral and ethical questions.
Defection: We Remain Solidly Behind Makinde, PDP Leadership, Others Declare
The leadership of Peoples Democratic Party (PDP) in Oyo State, including the forum of former local government leadership, have declared their allegiance to Oyo State Governor 'Seyi Makinde and the party in the state. The forum, in a communiqué issued after a meeting at Conference Room of Saki West Local Government Area, Saki, called on all well-meaning
residents of Oyo State to remain steadfast in their support for the governor’s transformative vision for a more prosperous and equitable Oyo State.
It dismissed the recent defections of a few members of PDP in Oke Ogun, led by Senator Hosea Agboola, to a yet to be disclosed political party, stating that the action reeked of sheer opportunism, inconsistency, and political
desperation.
The forum said the defections were not reflective of the will of the majority of PDP members in Oke-Ogun, noting that the individuals, who defected were rescued from political obscurity by Makinde and had taken the decision to defect solely for personal and selfish interests.
The forum added that an overwhelming majority of serving and former council
chairmen, vice chairmen and PDP stakeholders across Oke-Ogun remained with PDP and were firmly aligned with Makinde’s political philosophy.
Stating that Makinde had delivered inclusive, peopleoriented and transformational achievements across Oyo State and, particularly, in Oke-Ogun, the forum resolved that Oke Ogun PDP stakeholders would continue to mobilise support
for Makinde’s administration and PDP at all levels and also continue to strengthen the party’s internal cohesion and structures across all local governments in the zone.
It stated, "After extensive discussions and careful evaluation of the situation, the forum unanimously resolved as follows: Uunequivocally reaffirms its unflinching loyalty and total commitment to the
leadership and visionary governance of the Executive Governor of Oyo State, His Excellency, Engr. Seyi Makinde, FNSE.
"Governor Makinde’s inclusive leadership, peopleoriented policies, and transformational achievements across Oyo State — particularly in Oke-Ogun — remain unmatched in the annals of the state’s history.
Chuks Okocha in Abuja
L-R: Council Member, Chartered Risk Management Institute (CRMI),Kamoru Adeyemi; Council Member, CRMI, Amal Haruna; Managing Director/CEO, TAJBank, Hamid Joda; Registrar/CEO, CRMI, Victor Olannye; Chairman, CRMI Abuja Chapter, Augustar Ehighalua, and Vice Chairman, CRMI Abuja Chapter, Victor Adofu, during the CRMI/TAJBank Quarterly Risk Round Table in Abuja… recently
Head, tG agri Farm, abhishek manitripathi, and marketing Head, tG agri Farm, n
outstanding Indigenous naija Spice of the year in Lagos...recently
c
Wabara Backs Kanu Protest, Group Calls for Peaceful March
NSCDC warns protesters against vandalism
Michael Olugbode, Alex Enumah in abuja and Emmanuel Ugwu-Nwogo in Umuahia
The Chairman, Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Chief Adolphus Wabara, has sent a solidarity message to Omoyele Sowore ahead of the proposed solidarity walk for the detained leader of the Biafran group, Nnamdi Kanu. In a letter personally signed, and dated October 13, 2025, the former Senate President commended Sowore for
Fayemi, Group Hail Oyebanji for Good Governance in Ekiti
Gbenga Sodeinde in ado ekiti
The immediate-past Governor of Ekiti State, Dr. Kayode Fayemi, has commended the incumbent state Governor, Mr. Biodun Oyebanji, for his developmental strides, transformative leadership, and for building on the legacy of continuity in governance, describing the governor as his greatest achievement.
The former governor gave the commendation last Saturday at Ijelu-Ekiti during the inauguration of the newly constructed ItapaIjelu-Omu road, as part of
In a bold move that underscores its commitment to innovation and excellence, Aircraft Finance Germany (AFG) has announced the appointment of Mr. Shiekuma Gemade as its new Executive Vice President and Chief Operating Officer (COO).
activities to mark the third anniversary of the Oyebanji administration.
Addressing journalists at the event, Fayemi said he would describe Oyebanji as his greatest achievement.
According to him, “Absolutely, he is my greatest achievement because I have my own imperfections but those imperfections he has managed to either correct or reduce them, and God has been kind to us in Ekiti State by giving us a governor who can focus on the transformation agenda for the people of state, and who is not giving to unnecessary politicking at the expense of development.
speaking up for justice, saying he was in support of the planned protest.
He said he would have joined in the protest march were it not that he was currently outside
Nigeria.
“I have been informed about the planned protest on the 20th of October calling for the release of Mazi Nnamdi Kanu. I wish to commend your
efforts and those of others who continue to speak up for justice and fairness in our country.
“Unfortunately, I am out of the country and will not be able to join
2027 Presidency: Ogun PDP Stakeholders Endorse
Chuks Okocha in abuja
The 2027 presidential race took a defining turn last Friday as stakeholders of the Peoples Democratic Party (PDP) in Ogun State formally endorsed Gbenga Olawepo-Hashim for president, declaring that the era of “politics of entitlement” is over.
The endorsement, made under the aegis of the Olawepo-Hashim Solidarity Movement (GHSM), positions Ogun as the epicenter of a growing South-west political reawakening, a wave that has already gained traction across Osun, Lagos, Ekiti, Ondo, and Oyo States.
Speaking after the
adoption, State Coordinator of GHSM, Hon. Gbenga Idowu, described Hashim as “the bridge between the North and South” and “the most competent and credible alternative to the failed All Progressives Congress (APC) leadership.”
“President Tinubu has failed both Nigeria and the South West. What he
you physically on that day. However, please know that I am with you in spirit and in full support of every peaceful effort aimed at securing justice and national reconciliation.
promised as renewal has turned into national ruin. Inflation is at its worst, insecurity has deepened, and the people are hungry,” Idowu declared. He added that Ogun is joining the rest of the South-west to say enough is enough. It was here that Tinubu once said ‘Emilokan’ and God permitted it.
Kwara Farmer Raises the Alarm, Says Killings ‘ll Cripple Investments
Emma Okonji
A Kwara State farmer and Chief Executive Officer of Versa Farms, Nigeria’s largest tomato farm, Ibrahim Toyeeb, has condemned the recent spate of deadly attacks across Kwara
State, calling for urgent intervention to protect lives and safeguard the region’s fragile economy.
Toyeeb, whose company is one of the largest employers of labour in the area, expressed deep pain at the killings and displacement of residents.
He warned that unless decisive action was taken, Kwara South would risk becoming an economic dead zone, driving away investors and undermining the livelihoods of thousands of people.
Toyeeb said this in a statement following the coordinated attacks on communities in Kwara South and neighbouring areas, including OkeOde in Ifelodun Local Government Area, which left scores dead, several injured and many abducted.
Shiekuma
leadership in structuring and executing over $12 billion in aircraft acquisitions and leasing deals has earned him widespread industry respect.
A seasoned aviation executive with over two decades of global experience across aircraft leasing, airline operations, and MRO leadership, Mr. Gemade’s impressive track record positions him as a transformative addition to AFG’s leadership team. His
Before joining AFG, Gemade served as the inaugural Head of Fleet at Riyadh Air - Saudi Arabia’s new national carrier, which was announced by the Crown Prince on March 12, 2023. At Riyadh Air he spearheaded aircraft acquisitions, fleet planning, and development of one of the aviation industry’s most ambitious new fleet programs. AFG Appoints
Sunday Okobi
The Academy Press Plc, one of Nigeria’s foremost printing and publishing companies, has concluded plans to celebrate its 60 years of printing excellence and innovation in the country.
The organisation stated
that the Diamond Jubilee Anniversary, with the theme: ‘Celebrating the Past, Envisioning Tomorrow’, will take place on October 22, 2025, in Lagos.
Speaking to journalists yesterday, the Managing Director of Academy Press Plc, Mr. Olugbenga Ladipo, stated that the event
would honour their legacy, recognise stakeholders’ contributions, and look forward to future growth and innovation.
According to him, “This Diamond Jubilee is not only a celebration of our past achievements but also a reaffirmation of our commitment to innovation, excellence, and service. We are proud of our heritage, grateful to our stakeholders, and excited about the future we are building together.” The celebration will also host government dignitaries, corporate leaders, in-dustry stakeholders, alumni, employees, and international partners.
Goodearth Hot Peppe Wins Indigenous Naija Spice Award
Goodearth Hot Peppe from the stable of Goodearth Foods has emerged as the winner of the coveted Indigenous Naija Spice of the Year category at the 13th edition of Marketing Edge Awards themed “Excellence Beyond Borders,” held in Lagos recently.
The recognition, not only
distinguished Goodearth Hot Peppe from other brands in its category but sent ripples of excitement across Nigeria’s food and spice industry, affirming that local brands can compete at the highest standards when backed by world-class infrastructure and unwavering commitment to quality.
According to the company, Goodearth Hot Peppe’s triumph at the Marketing Edge Awards represents more than a trophy on a shelf.
“It validates years of meticulous planning, substantial investment, and an uncompromising dedication to producing
world-class spices from Nigerian soil. The brand demonstrated an exceptional ability to stand out in a highly competitive category, proving that indigenous brands can achieve international standards while maintaining authentic local character,” the company said in a statement.
Saraswat;
hief of Staff to ekiti State Governor, adeniyi adebayo; branch
ze Frederick chidi, at the 2025 edge award, where the company was recognised as
TEN PREPS FOR ONE-PARTY RULE
Nigeria in the next 67 years of its rule, it needs twelve historical parallels. First of all, it needs a sharply-focused, unifying ideology. Right now, no one knows what APC’s ideology is. It does not have a unifying program; its Federal and state governments each have different policy priorities. Nor is there evidence that Nigerians rally round some of its key programs, such as fuel subsidy removal and floatation of the naira.
APC needs a CPC-style Long March in order to mystify its history. In 1934, Chinese Communists led by Mao Zedong left their base in southeast China and marched 6,000 miles to the north, through farmlands, mountains and rivers, pursued all the way by armies of the Kuomintang. The journey took two years. In contrast, APC governors flew in private jets and rode in posh SUVs to Birnin Kebbi last week, which hardly qualified as an equivalent of the Long March. APC leaders should instead trek through the Illela to Badagry highway, then divert unto the Lagos to Calabar coastal road, and from there head north through Oguta Lake marshes, along Benue river floodplains and all the way to Mandara Mountains and Sambisa Forest. That will create a legend for the ages.
Great party history requires a great enemy. Right now, APC has no equivalent of the Kuomintang to give it a chase. ADC, right now loosely led by Atiku Abubakar, Peter Obi and Rotimi Amaechi can hardly provide a powerful chase, of the kind that the Imperial Japanese Army led by General Matsui Iwane provided to CPC in 1937-45, complete with the Rape of Nanking.
APC must also banish its enemies and then stage a great moment of triumph, such as CPC did on October 1, 1949 when, having chased Kuomintang out of mainland China to Formosa [Taiwan], it staged a victory rally in Beijing and renamed the country Peoples Republic of China, PRC. APC must chase Labour Party to Fernando Po Island, chase PDP out to Sao Tome and chase ADC out to Lake Chad timbus, then rename the country Progressive Republic of Nigeria, PRN.
APC must re-enact the Great Leap Forward. In 1958, CPC declared a Great Leap Forward, a year within which China aimed to double its agricultural and industrial production. APC must therefore declare 2026 as the year of The Great Leap Forward during which the naira should rise to N50 to the dollar; PENGASSAN or no PENGASSAN, Dangote or no Dangote, fuel prices should drop to 90 kobo per litre; and lecturers’ Earned Academic Allowances should be tripled. Somewhere down the road, APC leaders are bound to face accusations of aging, physical frailty and foreign medical trips. The best way to answer such questions is to do what Chairman Mao did in 1966. He suddenly appeared in his trunks by the mighty Yangtze-Kiang river, dived in and swam against its mighty currents for nine miles in 65 minutes. Ok, since our Niger and Benue rivers combined have nowhere near the might of Yangtzekiang, APC leaders should at least try the swimming pool at Transcorp Hilton. Five years from now, by 2030 at the latest, APC must launch a Great Proletarian Cultural Revolution to flush out renegades
and suspected moles from the party, as CPC did in 1966. They should be marched along the streets by angry mobs and made to clean gutters. Further down the road, APC will need a Gang of Four scapegoats. In 1976 CPC purged Mao’s widow Jiang Jing, Zhang Chunqiao, Yao Wenyuan and Wang Hongwen. They were arrested and branded as “conspirators, counter revolutionaries and bourgeois class elements.” I do not want to pre-empt APC but I think Abdullahi Ganduje, Solomon Dalung, Adams Oshiomhole and [closet party member] Nyesom Wike will serve very well as Gang of Four scapegoats, in order to divert public attention from possible policy failures.
In order for Nigeria to be transformed into a modern, cutting-edge digital state within a generation and lift 200 million people out of poverty, APC must enact The Four Modernisations program, such as CPC did from 1977. The plan aimed to modernize China’s agriculture, industry, defence and science and technology, which it did with smashing success within a generation. APC must launch a Six Modernisations program to modernise Nigeria’s electricity grid, modernise its railways, revive Ajaokuta Steel Mill, revive Ikot Abasi Aluminum Smelter, complete Mambilla Power Project and recharge Lake Chad with water from Ubangi-Chari rivers.
To be able to conceive and carry through the Six Modernisations Program, APC will need a Deng Xiao-ping. He should be dwarfish, should dress in drab jackets, should hold a non-descript party post of Vice Chairman, but should be resolute and extremely visionary. Who are APC’s
NIGERIA AT 65: AFCFTA AS A CATALYST FOR NATIONAL RENEWAL
The Path Forward
Nigeria’s 65th independence anniversary offers both a moment of reflection and a call to action. If the African Continental Free Trade Area (AfCFTA) is to serve as a catalyst for national renewal, Nigeria must pivot decisively from rhetoric to reform. Eight priorities stand out.
Simplify and digitise trade processes: Customs, ports, and border agencies must be fully digitised, harmonised, and interoperable with AfCFTA protocols. Integration with the Pan-African Payment and Settlement System (PAPSS) would reduce transaction costs and settlement delays, while enhancing transparency and accountability. A streamlined, rules-based trading environment is a prerequisite for competitiveness.
Incentivise non-oil exports: Nigeria must diversify its export base beyond hydrocarbons. Agro-processing, textiles, light machinery, and pharmaceuticals already enjoy robust continental demand. Export credit guarantees, targeted FX liquidity windows, and performancebased tax rebates would create incentives for firms to seize these opportunities and scale.
Operationalise Special Economic Zones (SEZs): Industrial hubs in Ogun, Kano, Aba, and Calabar must move from paper to practice. Linking them to regional transport corridors such as the Lagos–Abidjan and the Trans-Saharan routes, would allow them to serve as anchors for regional value chains and magnets for investment.
Support SMEs and manufacturing ecosystems: The backbone of Nigerian industry is small and medium-sized enterprises. Reliable electricity, affordable finance, and structured agricultural linkages are essential to enabling these firms to compete credibly in African
markets. Without such basics, the AfCFTA will remain aspirational.
Invest in infrastructure as continental arteries of trade: Roads, railways, and ports must be conceived not merely as domestic projects but as regional arteries of commerce. Aligning infrastructure investment with AfCFTA trade corridors would yield network effects, reduce logistics costs, and integrate Nigeria more deeply into continental supply chains.
Deepen trade finance and insurance capacity: Pan-African Development Financial Institutions and domestic financial institutions must expand affordable credit lines, insurance, and risk-cover instruments to enable African transactions. Without accessible trade finance, even the most competitive Nigerian goods cannot flow across borders at scale.
Domesticate AfCFTA protocols
candidates to fill this role? Coordinating Minister of the Economy Wale Edun is the obvious front runner, with Minister of Budget and National Planning Abubakar Atiku Bagudu, Central Bank Governor Yemi Cardoso and FIRS Chairman Zaccheus Adedeji as hot runners-up. In order to carry every Nigerian along with its programs, APC must not rely on a rubber stamp National Assembly or even few and far between party conventions. Just as CPC convenes a Chinese People’s Political Consultative Conference every five years to discuss every issue under the Chinese sun, APC must convene a Nigerian Peoples Political Consultative Conference every five years to discuss every issue under the tropical Nigerian sun. All interested elements including ASUU, PENGASSAN, IPOB, MASSOB, Yoruba Nation and Boko Haram must be invited to the conference. Tompolo and Asari Dokubo should lead Niger Delta militants’ delegation while Dogo Gide and Bello Turji should lead the delegation of North Western bandits.
One more issue. With Nigeria’s population projected to reach 400 million by 2050, APC must institute and vigorously enforce a One Child Per Couple policy, such as CPC enforced in China from 1979 to 2015. African culture notwithstanding, APC must ban polygamy, raise the female marriage age to 35, and any man who divorces his wife must not be allowed to marry again. Any woman who murders her husband, according to this APC program, should not get a pardon but should get three consecutive life sentences, such as apartheid South African courts used to hand down at the Rivonia Trial in 1964.
Afri-Multilateralism – a new dialectic of sustainable trade cooperation among African states and with external blocs – remains unfinished business. In a multipolar world where the EU, ASEAN, and the US all seek Africa’s markets, Nigeria must spearhead Africa’s engagement as a bloc, harmonising tariffs, strengthening dispute resolution, and embedding Africa’s collective agency. Indeed, without agency, Africa risks being acted upon rather than acting, its terms of trade dictated externally rather than negotiated from a position of coordinated strength.
A Call to Renewal
in Nigerian law: Ratification is not implementation. AfCFTA provisions on standards, intellectual property, investment protections, and dispute settlement must be embedded in Nigerian statutes and regulatory frameworks. This will provide legal certainty for both domestic firms and foreign investors.
Champion regional value chains over zero-sum competition: Nigeria must resist the temptation to compete in isolation. Instead, it should co-create supply chains with neighbours. Processing cocoa with Ghana, textiles with Benin, and auto parts with Côte d’Ivoire could be a starting point. Such integration will position West Africa as a globally relevant production hub.
Nigeria and Afri-Multilateralism
Beyond economics lies diplomacy. Nigeria’s leadership in institutionalising what I have elsewhere described as
At 65, Nigeria faces a choice. It can remain a spectator in the integration it once championed, or it can reclaim its mantle as Africa’s leader, architect, and driver of shared prosperity. The AfCFTA is not just another trade deal; it is Africa’s development blueprint for a post-oil century. For Nigeria, it is both an obligation and an opportunity: an obligation to honour its history of leadership, and an opportunity to fashion a new era of industrialisation, diversification, and continental influence. The continent is watching. The world is waiting. Nigeria must rise. At 65, the time has come to move from potential to performance, from promise to practice. AfCFTA is the catalyst. National renewal is the prize.
• Dr. Ese Owie is the Chief Executive Officer of the University of Oxford Climate Alumni Network. He currently serves as Professor of International Trade Law, International Relations, and Climate Diplomacy and Policy at EUCLID (Pôle Universitaire Euclide / Euclid University) and is a Visiting Research Fellow at the University of Essex Law School.
President Tinubu
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
08111813083 SMS Only
Pinnick Slams S’African Sports Minister for Wishing Eagles Failure in World Cup Playoffs
Nigeria’s former FIFA Council Member, Amaju Melvin Pinnick, has asked South Africa’s Sports Minister, Gayton McKenzie, to learn to speak as a statesman rather than voicing as a street urchin.
Pinnick’s comment is a direct reply to comments made by the South African sports minister on Robert Marawa’s Marawa Sports Worldwide, at the weekend, wishingNigeria not to qualify for the World Cup from the playoffs starting in Morocco next month.
According to McKenzie: “I want Nigeria to lose. They must not go to the World Cup.
Another African country must go,” observed the minister in anger over his perceived Nigeria’s role in the deduction of three points from South Africa for fielding an ineligible player in a 2026 World Cup qualifier against Lesotho in March.
But Pinnick who is a serving Deputy Chairperson of FIFA Men’s National Teams Competitions Committee, a position that gives him strong voice in the corridors of world football, told THISDAY yesterday that McKenzie lacks the decorum of a minister in a developed economy like South Africa.
“If it is the wish of God that Nigeria should qualify for the World Cup, the South African sports minister’s careless statement cannot stop it from happening. It is unfortunate to have someone like McKenzie appointed a minister in a developed, civilized country like South Africa. I know
several people in South Africa who are knowledgeable in football matters who will not speak with such hatred like McKenzie.
“For instance, SAFA President, Dr Danny Jordaan, is a respected football voice worldwide who will not go that route of hate. Dr Jordaan can never speak such careless statement about wishing Nigeria bad. The CAF President, Dr Patrice Motsepe who is my Boss is another fine gentleman, deeply rooted in continental and global football matters. These two gentlemen and several others know the consequences of fielding an ineligible player in a World Cup qualifier. The South African sports minister should just shut up instead of embarrassing the country with his careless, unfounded statements against Nigeria,” observed the former NFF president who once served as CAF’ FIrst Vice President.
Pinnick recalled that in 2018, Nigeria suffered the same consequence for fielding ineligible Shehu Abdullahi against Algeria in a World Cup qualifier for the 2018 World Cup in Russia.
“FIFA deducted three points and three goals from Nigeria’s total points. We didn’t blame anyone because we knew we were at fault. NFF or our Sports Minister at the time didn’t blame anybody or country because we knew we were at fault.
“The South African Football Association (SAFA) I am sure are aware that it was their mistake and have owned up to the error. Why then should a
Team Mavericks Win 9th Seun Lewis Memorial Tournament
After 90 minutes of scintillating soccer action in the final of the 9th Seun Lewis Memorial Tournament at the Legacy Pitch, National Stadium, Surulere, Lagos on Saturday between Team Mavericks and Team Dynamos, both teams could not be separated after 90 minutes with result standing at 1-1.
Penalty shootouts had to decide the winner.
Dynamos scored first through a penalty kick midway in the first half and minutes later Team Mavericks equalised from a well taken free kick.
On resumption of the second half the pace of the game had slowed down with both side looking tied but Mavericks through one of their occasional attacks were awarded a penalty kick but Dynamos goalkeeper made a fantastic save.
With result still 1-1 after the referee’s final whistle, the two teams had to go through the
sports minister decides to put the blame for the consequences on Nigeria?” queried Pinnick who wants the South African President, Cyril Ramaphosa, to re-examine the quality of McKenzie in his cabinet.
He therefore urged the South African sports minister to learn how to speak from his Nigerian equivalent, Shehu Dikko, who is Chairman of the National Sports Commission (NSC).
“Dikko was my deputy president when I was NFF president. He’s a fine gentleman who does not dabble into NFF matters despite the fact that he understands football business.
As Chairman of the NSC, Dikko can never speak about South Africa the way McKenzie did,” stressed the FIFA committee deputy chairperson.
Pinnick insisted that South Africans should be grateful to the Super Eagles for defeating Benin Republic in Uyo otherwise it should have been the Cheetahs that picked the direct qualification ticket to the World Cup.
“I will rather say that this minister is an ingrate for not thanking Super Eagles for defeating Benin Republic in Uyo. He didn’t realized that if Benin had won or drawn the match in Uyo,
South Africa will not be the beneficiary of the Group C direct qualification ticket for the World Cup.”
The former NFF President is however happy that the Super Eagles have regained their form and ready to fight for the sole ticket in Morocco and go to Mexico to grab one of the two tickets on offer in the Intercontinental playoffs.
Nigeria advanced to the African playoffs as one of the four best-ranked runnersup across the nine groups.
They will face Gabon on November 13 for a spot in the inter-confederation playoffs in Mexico March next year.
McKenzie is rooting
Five-star Mamelodi Sundowns Crush Remo Stars in Abeokuta
Nigeria Premier Football League (NPFL) champions, Remo Stars, were humiliated 5-1 by South African side, Mamelodi Sundowns in a CAF Champions League clash at the MKO Abiola Stadium in Abeokuta.
The visitors opened scoring after just 12 minutes by Tashreeq Matthews and Peter Shalulile doubled their lead just before halftime.
The Brazilians’ made it 3-0 on the hour through Miguel Reisinho while Arthur Sales increased their advantage in the 75th minute.
to seal qualification for the money-spinning group stage of the CAF Champions League as they continue their quest for a second continental crown.
Elsewhere, Simba SC of Tanzania and St Éloi
luxury of penalties to decide the winner and it was Team Mavericks that won 8-7 to cart away the giant trophy.
In the first game earlier, Royal FC defeated Bua Group FC to win the bronze medal.
Spouses of the players were also involved in a penalty contest and participants were given several cash and gifts from MTN which is the major sponsor of the tournament.
To declare the tournament open was George Osagie Abulele, who thanked the sponsors and participants for their support.
“I stand before you today to inaugurate the 9th Seun Lewis Annual Soccer Tournament. We gather on this vibrant occasion not merely to compete, but to celebrate the unifying power of the beautiful game—a sport that transcends boundaries, ignites passion, and forges unbreakable bonds of camaraderie and sportsmanship,” Abulele said.
Reno’s Samson Olasupo pulled a goal back for the home team almost immediately only for Tsiki Ntsabeleng to complete the rout five minutes from time for the visitors from South Africa.
The emphatic result leaves Miguel Cardoso’s men firmly in control ahead of the return leg in Pretoria, where they are expected
Lupopo of DR Congo took commanding first-leg leads, while MC Alger of Algeria earned a valuable away draw in Cameroon.
In Eswatini, Simba SC underlined their pedigree with a professional 3–0
away win over Nsingizini Hotspurs.
At the Stade de la Victoire, DR Congo’s St Éloi Lupopo stunned Orlando Pirates of South Africa with a comprehensive 3–0 win. In Yaoundé, MC Alger showed their resilience to draw 1–1 with Colombe FC.
Sporty TV Unveils Exciting Free-to-Air Sports Packages for Nigerian Viewers
Africa’s fastest growing free-to-air sports network, Sporty TV, has unveiled a number of exciting sports packages for its Nigerian market.
Speaking at a press conference in Lagos, Nigeria on Friday, Oluchi Enuha, the Executive Representative of the Network in Nigeria, said these packages would change the entire landscape of sports broadcasting, not only in Nigeria but across
the globe.
Enuha also announced a partnership with the Nigerian Television Authority(NTA) and other global media leaders, stating that the partnership would set new standards for free television and deliver value as well as affordable top class content for viewers and advertisers alike.
According to him, “This is an unprecedented delivery of value and premium content
at no cost to the Nigerian viewer. This is definitely transforming the broadcasting landscape across Africa.
“We are delivering over 600 live events including the English Premier League, Spanish La Liga, German Bundesliga, South American football, some Super Eagles 2026 World Cup qualifying matches(the last four games), the FIFA World Club Cup, the upcoming 2026 FIFA World Cup finals and even
the just concluded 2025 World Athletics Championships in Japan directly to viewers free.”
Sporty TV combines worldclass production, cutting edge technology and strategic partnerships in ensuring that every Nigerian household is able to enjoy premium sports content through its YouTube channel and mobile apps, guaranteeing maximum reach and convenience in the process.
for Gabon’s Panthers to come out on top as he wants Nigeria to pay for its alleged role in Bafana Bafana’s sanction.
Duro Ikhazuagbe
CAF CHAMPIONS LEAGUE
Pinnick
Mamelodi Sundowns players celebrating their five-star performance in the 5-1 defeat of Remo Stars in Abeokuta... on Sunday evening
MAKINDE VISITS AFCFTA SECRETARIAT IN ACCRA...
MAHMUDJEGA
VIEW FROM THE GALLERY
Ten Preps for One-Party Rule
With the Biblical-scale Exodus in recent weeks of governors, senators and other high-profile politicians from opposition parties to the ruling All Peoples Congress [APC], this country is set to have a one party system of government by the next general and presidential elections in 2027, or even earlier.
APC’s capture of Edo Government House from PDP last year, hotly followed by the fleeing from PDP to APC of Delta State governor Sheriff Oborevworie, Akwa Ibom State governor Umo Eno, Enugu State governor Peter Mba and Bayelsa State governor Duoye Diri, along with all their commissioners, special advisers,
councilors, every PDP officer at state, local government and ward levels, every women and youth wing leader, every contractor and every praise singer, resembles the Exodus mentioned in the Holy Books. It is the political equivalent of parting of the Red Sea to make way for fleeing Israelites to cross. Pursuing them as they make the crossing, the equivalent of the Pharaoh’s army with its thousands of chariots, horses and warriors, are antigraft agencies, political threats, the lure of extra Federal allocations and guaranteed return tickets.
APC national chairman Nentawe Yilwatda said at a rally in Kaduna at the weekend that more opposition party governors and other leaders will soon
join his party. With so many opposition chieftains flocking to APC, the ruling party is in a joyous mood, believing that the 2027 election is already in the bag. Winning the next election is however the easy part. APC should instead be actively preparing for the official onset of the One-Party State. The most successful One Party state in the modern world is China. Its sole ruler since 1948 has been the Communist Party of China, CPC. APC’s acronym is remarkably close to CPC’s; just remove the C and insert an A. CPC has made a smashing success of its 77-year sole ruler ship of China. For APC to reenact the Chinese miracle in
Continued on page 38
Nigeria at 65: AfCFTA as a Catalyst for National Renewal
When the African Continental Free Trade Area (AfCFTA) came into effect on January 1, 2021, it was hailed as the most ambitious integration project since the founding of the African Union. A single market of 1.3 billion people and a combined GDP of $3.4 trillion promised to reposition Africa in the global trade architecture. For Nigeria, Africa’s largest economy and a historic champion of continental integration, the AfCFTA should have been a natural theatre for leadership, innovation, and prosperity. Yet, four years on, Nigeria’s engagement with this landmark initiative remains hesitant, uneven, and far from transformative. In 2024, total trade surged by about 89.7
percent to nearly N138.03 trillion, and by the end of the first quarter of 2025, the country recorded a trade surplus of N7.5 trillion representing a 52 percent quarter-on-quarter (QoQ) rise when compared to the N5.17 trillion recorded in Q1’25. But beneath this headline growth lies a disquieting trend: intra-African trade accounted for approximately 6.4 percent of Nigeria’s total. While South Africa, Kenya, Egypt, and Morocco have begun to shape industrial zones, logistics corridors, and export-ready ecosystems aligned with AfCFTA, Nigeria is still struggling to overcome infrastructural bottlenecks, currency volatility, and inconsistent trade policy. This paradox is not just economic, it is existential. Nigeria was instrumental in crafting the architecture of Africa’s
integration. From the Lagos Plan of Action of 1980 to the Abuja Treaty of 1991, Nigerian diplomacy helped midwife the vision that became AfCFTA. That Nigeria now lags in leveraging it is a betrayal of history, a squandering of opportunity, and a warning sign for the future.
The Promise of AfCFTA
The AfCFTA is not merely about lowering tariffs. It is about reconfiguring Africa’s economic geography, catalyzing industrialization, and forging new value chains across borders. For Nigeria, the opportunities are immense: access to a vast market for its goods and services, diversification away from crude oil dependency, and the chance to lead in shaping continental standards, dispute
resolution, and digital trade frameworks. AfCFTA is the blueprint for an Africa that trades more with itself, negotiates as a bloc with global powers, and builds prosperity from within.
Yet Nigeria’s export profile remains dangerously narrow. More than 81 percent of exports are crude petroleum and natural gas. Agricultural commodities and manufactured goods barely register. This concentration not only diminishes Nigeria’s attractiveness in African markets but also leaves its economy exposed to the volatility of global oil prices. To unlock AfCFTA’s promise as catalyst for national rebirth, Nigeria must embrace diversification with urgency and discipline.
L-R: Executive Assistant on Special Duties to Oyo State Governor, Barr. Bayo Lawal; Oyo State Governor, Seyi Makinde; Secretary General, African Continental Free Trade Area (AfCFTA), Wamkele Mene; Special Adviser on AfCFTA to the Governor, Ms. Theodore Tlhaselo; and Senior Special Assistant on Special Duties to the Governor, Miss Lolade Ajibola, during a visit to the AfCFTA Secretariat in Accra to submit the Post-launch Engagement Report as part of the
Tinubu
special assistants, Federal and state MPs, all their Local Government chairmen and
