Dangote Projects Over $55bn Annual Revenue from Refinery as Afreximbank Considers Fresh $5bn Expansion Credit
Dangote says expanded refinery will guarantee energy security; Afreximbank foresees expansion will halve petroleum prices in West Africa with expansion Commends Tinubu’s industry- friendly policies Company to increase power generation output to 1,000mw
Africa’s richest man and President of Dangote Industries
Limited, Alhaji Aliko Dangote, has projected that the revenue from his 650,000 barrels per day petroleum refinery in Lagos can exceed $55 billion annually, making it one of the
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Lamido Joins PDP National Chairmanship Race, Picks Nomination Form Today
Former governor of Jigawa
Continued on page 39
Adedeji: FIRS Collected N22.59tn in 9 Months, N47.39tn in
Says service transformation to Nigeria Revenue Service will expand mandate to include non-tax revenue collection from NUPRC Assures on fair implementation of new tax laws, simplification and revenue maximisation, others
Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, said the service had achieved significant revenue improvements, as tax collections reached N22.59 trillion between January and September 2025.
Adedeji said the service also achieved a record-breaking revenue growth of N47.39
trillion between October 2023 and September this year, representing 115 per cent of its target.
Highlighting FIRS’ key achievements under his watch, he said 2025 represented a period of remarkable achieve- ments and transformation, as non-oil revenue accounted for
Continued on page 39
2 Years
AIR PEACE INAUGURAL ABUJA–LONDON FLIGHT...
R-L: Minister of Aviation and Aerospace Development, Hon. Festus Keyamo; Vice Chairman, Air Peace Limited, Mrs. Alice
Deputy Chief of Staff to the President, Hon. Ibrahim Hassan
United Nigeria Chairman, Prof.
Air
Chairman/CEO, Dr. Allen Onyema; and Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu, at the Nnamdi Azikiwe International Airport, Abuja, to mark the inaugural Abuja–London flight, yesterday
James Emejo in Abuja and Peter Uzoho, Dike Onwuamaeze
Onyema;
Hadejia;
Obiora Okonkwo;
Peace Limited
L-R: Senate President, Godswill Akpabio; Deputy Governor of Central Bank of Nigeria (CBN)and daughter of the deceased, Ms Emem Usoro; Vice President Kashim Shettima; MD/CEO Zenith Bank, Adaora Umeoji and Governor Umo Eno of Akwa Ibom State, at the reception in honour of late Deaconness Eno Usoro, at Four Point by Sheraton, Ikot Ekpene, Akwa Ibom State … at the weekend
Keynote Speaker, Dr. Kola Adesina, MFR; President/ Chairman of Council, CIoD, Otunba Adetunji Oyebanji; First Vice President, Mrs. Amina Oyagbola, FCIoD; and Second Vice President, Alhaji Lamisu Dikko, FCIoD, during the CIoD Annual Directors Conference held at the Abuja Continental Hotel… recently
NEITI: Nigeria’s Exit from FATF List ‘ll Lower Transaction Costs, Improve Global Capital Access
Lauds anti-graft agencies, inter-agency task team Calls for sustenance of reforms on beneficial ownership disclosure
The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday stressed that Nige- ria’s recent removal from the Financial Action Task Force (FATF) Grey List will lower international financial costs and improve the country’s global capital access.
In a statement signed by the organisation’s Director, Communication & Stakeholders Management, Obiageli Onuorah, NEITI stated that another key benefit of delisting of Nigeria is that it will boost the country’s international credibility and investor confidence.
NEITI’s Executive Secretary, Dr Ogbonnaya Orji, who outlined the far-reaching positive implications of the delisting on Nigeria’s economy, governance, and investment climate, pointed out that Nigeria’s exit sends a clear signal that its financial system is increasingly compliant with global transparency and integrity standards.
According to him, this will
make the country more attractive for foreign investment and international partnerships, as well as benefit the country in terms of reduced risk ratings, more efficient cross-border transactions, and improved access to international finance and correspondent banking services.
“With the stigma of high-risk status removed, the private sector especially the extractive industries, will benefit from increased investor interest, smoother trade flows, and greater confidence in Nigeria’s financial governance,” he said.
NEITI emphasised that beyond financial markets, the delisting reflects the strengthening of Nigeria’s institutional reforms and the increased effectiveness of key anti-corruption and regulatory agencies, including the Bureau of Public Procurement (BPP), Central Bank of Nigeria (CBN), Federal Ministry of Justice, diplomatic missions, among others.
Orji stressed that improved
financial system integrity provides a more credible foun- dation for extractive-sector governance, revenue tracking, and anti-corruption reforms.
He added: The momentum should now be used to: Sustain reforms on beneficial ownership disclosure and open contracting; strengthen oversight of extractive revenue flows; and
deepen collaboration with global transparency and accountability institutions.
“The FATF delisting is not just a regulatory success, it is a governance success. It strengthens Nigeria’s standing in the international transparency community and reinforces NEITI’s work to ensure openness, accountability, and integrity
in the extractive industry,” Orji affirmed.
He reiterated the agency’s commitment to work closely with the anti-corruption community, development partners to consolidate the gains, prevent policy reversals, and deepen ongoing reforms to ensure Nigeria never returns to the grey list.
Also, NEITI commended Nigeria’s anti-corruption and financial integrity institutions for securing the milestone, describing the development as “a strong vote of confidence in Nigeria’s reforms to combat corruption, improve financial transparency, and strengthen accountability systems across all sectors of the economy.”
HYPREP Achieves 94% in Phase One of Mangrove Restoration Initiative
Coordinator says 14 water projects commissioned
The Hydrocarbon Pollution Remediation Project (HYPREP) has said it has achieved 94 per cent completion in the first phase of the mangrove restoration programme and recorded significant progress in land and shoreline remediation activities across Ogoniland. Project Coordinator of
PTI Conference Ends in Abuja, Stakeholders Seek Gas Sector Growth
Urge LPG importers to set up processing plants in Nigeria
The 4th Biennial International Conference on Hydrocarbon Science and Technology (ICHST) has ended in Abuja, with participants calling for an accelerated development of Nigeria’s huge gas resources.
The two-day conference was organised by the Petroleum Training Institute (PTI) in partnership with the Ministry of Petroleum Resources, Petroleum Technology Development Fund
(PTDF), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPC Academy, among others.
In a communiqué read at the weekend by the Director of Research and Development at the PTI, Dr Tina Isichei, the participants, including heads of government agencies, captains of industry, professionals, academia, noted that if fully
deployed, Nigeria’s gas reserves will drive national development.
This year’s theme which was: “Transforming Africa’s Hydrocarbon Sector: Balancing Growth, Environment, and Governance,” examined strategies on how to govern Nigeria’s oil and gas resources in ways that build trust, attract sustainable investment, uplift the people, safeguard the environment, and secure Africa’s rightful place in the global shift toward sustainable energy.
HYPREP, Prof. Nenibarini Zabbey, disclosed this during the 3rd Quarter Interactive Session with Ogoni youth groups, held in Port Harcourt, at the weekend.
Zabbey said the interactive forum, which began in 2023, was designed to foster transparency, inclusiveness, and constructive engagement with Ogoni youths on the progress of the ongoing environmental cleanup and development projects.
“The project remains on course to achieve its mandate as outlined in the UNEP Report on the Ogoni environment and the official gazette establishing HYPREP. We are committed to transparency and accountability in implementing the cleanup projects and activities,” he stated.
He noted that beyond mangrove restoration, shoreline remediation had reached 67.1 per cent completion, while
phase two of land remediation stood at 36.55 per cent. On potable water supply, the HYPREP boss revealed that 14 completed water facilities had been inaugurated, supplying clean drinking water to 40 Ogoni communities.
He announced that two additional facilities in Bane and Gwara would be commissioned next week, increasing the number of communities with access to safe water to 45.
PINL Expands Oil, Gas Surveillance, INC, IYC Laud Efforts
Firm says it’s doing extra work for free
olusegun Samuel in Yenagoa Pipeline Infrastructure Nigeria Limited (PINL) yesterday said it has expanded its operations ‘pro bono’ to include all oil and gas facilities close to the Trans Niger Pipeline (TNP), stressing that the decision to provide the free services was in the interest of national development.
General Manager, Community Relations and
Stakeholder Engagement of PINL, Dr Akpos Mezeh, made the disclosure while addressing stakeholders from host communities of the TNP in Bayelsa.
The company whose primary area of operations is on the Eastern Corridor of the Trans Niger Pipeline, called on stakeholders to scale up real time information around these critical assets for optimum protection.
“We wish to restate that PINL has taken on the responsibility of providing security for all oil and gas assets in close proximity to the TNP ‘Pro Bono’ even though they are not under its current mandate. To this extent, we urge stakeholders to scale up vigilance and real time community intelligence around these assets in the interest of national security, “ Mezeh said.
Emmanuel Addeh in Abuja
Blessing Ibunge in Port Harcourt
Bimbo Ashiru;
Emmanuel Addeh in Abuja
Email: deji.elumoye@thisdaylive.com
Insecurity: Setting Agenda for New Service Chiefs
For many Nigerians, the recent change of batons among the top echelon of the Nigerian armed Forces offers a fresh chance to turn determination into decisive action on the battlefield and beyond, writes linus Aleke.
Nigerians are already making specific demands of the newly appointed service chiefs, suggesting that improved synergy among the services and greater investment in the welfare of frontline troops will accelerate the Federal Government’s efforts to end terrorism, banditry, and other forms of violent extremism.
Although the surprise sack of the former chiefs has triggered a flurry of speculation— linking a rumoured coup attempt, political considerations, and a desire to reinvigorate the fight against terrorism with fresh energy from the new appointees—the public has wisely articulated clear priority areas for the new military leadership.
President Bola Tinubu, had last Friday afternoon, announced the removal of the service chiefs and the appointment of new ones.
In a statement signed by the Special Adviser to the President on Media and Public Communication, Sunday Dare, the Presidency named Lieutenant General Olufemi Oluyede as the new Chief of Defence Staff (CDS); Major-General W. Shaibu as Chief of Army Staff (COAS); Air Vice Marshal S. K. Aneke as Chief of Air Staff (CAS); and Rear Admiral I. Abbas as Chief of Naval Staff (CNS). However, the Chief of Defence Intelligence (CDI), Major-General E. A. P. Undiendeye, retains his position.
There appears to be broad consensus among experts, scholars, professionals, and members of the public regarding the president’s decisiveness in sacking and appointing new chiefs to inject the war against terrorism with the vigour it requires.
Applauding the presidential action, Senior Advocate of Nigeria (SAN), Olisa Agbakoba described President Tinubu’s decision as wise and timely, especially amid rumours of an alleged coup plot.
Speaking during a television interview, Agbakoba said the president’s action demonstrated the firmness and decisiveness that were lacking in the previous administration.
“You have a president who is prepared to take tough decisions, and we know that he likes to take tough decisions,” Agbakoba noted.
He added: “I think he has done the right thing because his predecessor, late former President Muhammadu Buhari, did not like to make such decisions and allowed his military team to stay far longer than they should have.”
The former president of the Nigerian Bar Association (NBA) said the timing of the decision
was appropriate and demonstrated leadership at a critical moment. “So, if it is indeed true that there was a rumoured coup, I think the president acted sensibly by doing exactly what he has done,” he stated.
Analysts have also observed that the president’s action has created much-needed vacancies for career progression within the armed forces.
They noted that, in line with the unwritten convention whereby all the course mates of the sacked service chiefs—and the majority of those of the newly appointed chiefs—ceremoniously exit service, significant opportunities will now emerge for other senior officers to climb the ladder of professional advancement.
“While we wait for the new service chiefs to settle down, meet with the president for briefing, and appear before Parliament for confirmation and subsequent promotion to their next ranks, we eagerly anticipate their shake-up of the high command to keep the ball rolling,” one analyst said.
Setting an agenda for the newly appointed military leadership, security experts, scholars, and policy analysts have urged them to prioritise synergy among the services, invest in troops’ welfare, and manage defence funds judiciously in order to realise the Federal Government’s objectives in the security and defence sectors.
Security experts have already outlined key priorities for the service chiefs, even as they dismissed speculations that the sack of their predecessors was linked to an alleged
attempted coup. The military authorities had earlier denied the coup story.
Former spokesperson of the Ministry of Foreign Affairs, Ambassador Ogbole AmeduOde, advised the new chiefs to discharge their constitutionally assigned duties to the best of their ability and ensure the safety of citizens across the country. He said Nigerians should be able to “sleep with both eyes closed and travel without fear of bandits, kidnappers, or terrorists on the highways.”
Speaking to THISDAY in a telephone interview, the retired ambassador said: “I expect them to prioritise kinetic efforts, while nonkinetic measures should be directed towards exposing those who sponsor insecurity — the conflict merchants. We must identify who they are and bring them to face the full weight of the law.”
Asked whether there was any link between the new appointments and the alleged coup attempt, he said: “I would not know, as the facts are not available, and I am not someone who is easily given to speculation. Whatever the case, the Commander-in-Chief has exercised his constitutionally granted powers in accordance with the law.”
A security analyst and veteran defence journalist, Chidi Omeje, also emphasised the need for deeper collaboration among the services and better welfare for troops on the frontlines.
According to him: “The new COAS was a theatre commander not long ago, so he understands the issues at stake — particularly extinguishing the flames of terrorism in Nigeria. I expect the new chiefs to strengthen collaboration, as no service can succeed alone. Greater synergy will prevent the occasional complaints by ground forces about not receiving air support when urgently needed. This does not happen elsewhere; I do not know why they
Setting an agenda for the newly appointed military leadership, security experts, scholars, and policy analysts have urged them to prioritise synergy among the services, invest in troops’ welfare, and manage defence funds judiciously in order to realise the Federal Government’s objectives in the security and defence sectors.
choose to work in silos, especially in Nigeria. What Nigerians desire most now is peace.”
He added: “The essence of these new appointments is to bring fresh ideas and perspectives to the ongoing war while consolidating existing strategies. They should also invest more in the welfare of the fighting troops to boost morale. The welfare of the troops must not be underestimated; it should be prioritised. The new COAS should strengthen the ‘soldier first’ concept introduced by the immediate past Army Chief. Soldiers must feel assured that their welfare — and that of their families — is safeguarded, even if they fall in the line of duty. Issues such as barracks accommodation and payment of allowances deserve serious attention.”
On whether there was any connection between the alleged, but denied, coup plot and the sack of the former chiefs, he said: “There has been no official confirmation of the coup story, and the DHQ has denied it flatly. However, no one receives more intelligence than the Commander-in-Chief, and if he decides to dismiss the Service Chiefs amidst the rumours, he knows best.”
Former Director of the Department of State Services (DSS), Mike Ejiofor, said the president must have his reasons for the shake-up, though he cautioned that changes in leadership may not immediately translate into improved security.
According to him: “If I were asked to set an agenda for them, I would emphasise the need for synergy. They must work together to succeed, and the government must play its part by adequately funding the services. While critics often note that the defence and security sectors receive the largest allocation in the 2025 budget, they forget that we have only just begun implementing it — meaning we are effectively running two budgets concurrently. There have been few releases and limited cash backing for key projects.
“The new chiefs must therefore manage resources prudently to achieve tangible results in the government’s counter-insurgency and anti-banditry campaigns. The welfare of troops is critical because, as the saying goes, a hungry man is an angry man. We must set our priorities right. Security remains Nigeria’s top priority, because without security, there can be no meaningful development.”
Whether the shake-up marks a genuine turning point or just another reshuffle will depend on how swiftly the new service chiefs transform promises of reform into visible results.
Gen. Oluyede Maj. Gen. Shuaibu
Rear Admiral Abbas
AVM Aneke
Group Features Editor: Chiemelie Ezeobi
Email chiemelie.ezeobi@thisdaylive.com,
Nigeria’s Governance under Scrutiny as CISLAC Unveils 8th SDG 16 Shadow Report
Nigeria’s governance and anti-corruption reforms have made legislative gains but continue to suffer from weak enforcement, political interference, and a shrinking civic space, according to the 8th edition of the Nigeria Sustainable Development Goals (SDG) 16 Shadow Report unveiled by the Civil Society Legislative Advocacy Centre (CISLAC). Presenting the report recently on the sidelines of the United Nations General Assembly (UNGA) in New York, CISLAC Executive Director and Head of Transparency International Nigeria, Malam Auwal Ibrahim Musa (Rafsanjani), said the 2025 review titled “Leaving No One Behind: Anti-Corruption, Right to Information, and Justice for All”, captured Nigeria’s progress between July 2024 and August 2025, exposing persistent governance failures despite high-profile reforms. Chiemelie Ezeobi reports
The Civil Society Legislative Advocacy Centre (CISLAC), an NGO, recently unveiled the 8th edition of the Nigeria Sustainable Development Goals (SDG) 16 Shadow Report, a detailed evaluation of the country’s progress on peace, justice, and strong institutions. The report, produced in partnership with Transparency International (TI) Nigeria, was presented by CISLAC’s Executive Director, Malam Auwal Ibrahim Musa (Rafsanjani), on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York, United States.
Rafsanjani, who also heads TI Nigeria, explained that the 2025 edition, themed “Leaving No One Behind: Anti-Corruption, Right to Information, and Justice for All,” covered the period from July 2024 to August 2025, tracking Nigeria’s progress under SDG 16 Targets 16.4, 16.5, and 16.10, which focus respectively on illicit financial flows and organised crime, corruption and bribery, and access to information and protection of fundamental freedoms.
Promoting Peace, Justice and Strong Institutions
According to Rafsanjani, the SDG Goal 16 seeks to strengthen institutions and promote good governance, just as it also aims to ensure peace, stability and justice, while addressing corruption, illicit financial flows, money laundering and outright looting. These issues are captured under Goal 16 to help track progress and assess how Nigeria can overcome its governance and institutional challenges.
He said: “This year marks the 8th edition of our engagement on SDG 16, and we have remained consistent in driving advocacy around it. As civil society, our role is to ensure that the commitments Nigeria has made towards achieving the Sustainable Development Goals, particularly SDG 16, are fully pursued.
“The goal focuses on promoting peaceful, inclusive and accountable institutions at all levels. It emphasises access to justice, institutional integrity and inclusive governance. Considering the intensity of violence and conflicts across the country, it is clear that Nigeria cannot achieve sustainable development if violent conflicts persist. Strengthening peace, justice and strong institutions therefore remains essential for the nation’s progress.”
A Mirror to Nigeria’s Governance Deficit
Now in its eighth edition, the SDG 16 Shadow Report has evolved into one of Nigeria’s most credible independent assessments of governance, corruption, and institutional accountability. Compiled annually since 2018, the report offers a civil society perspective that complements and sometimes contradicts official government reviews presented to the UN’s High-Level Political Forum.
The 2025 report paints a sobering picture: while legislative reforms have been enacted on paper, enforcement remains weak, politically selective, and often reactive. CISLAC notes that Nigeria continues to struggle with structural
governance failures that undermine transparency and justice, even as highprofile recoveries and new regulations dominate headlines.
Among the most striking findings is that Nigeria’s anti-corruption architecture, despite a proliferation of agencies and new laws, still lacks cohesion and political independence. Rafsanjani warned that “incremental progress cannot substitute for institutional transformation,” urging Nigerian authorities to bridge the persistent gap between reforms on paper and action in practice.
Record Asset Recoveries but Limited Accountability
The report records some notable gains. In 2024, the Economic and Financial Crimes Commission (EFCC) reported its largest single-year recovery, exceeding ₦1 trillion in assets and cash. This included more than 750 properties and foreign currency assets, following key court forfeitures.
Similarly, Nigeria signed an Asset Return Agreement with the United States in January 2025, leading to the repatriation of $52.88 million linked to former petroleum minister Diezani Alison-Madueke. Yet, despite these recoveries, CISLAC laments the absence of transparent post-recovery tracking mechanisms.
“The problem isn’t recovery, it’s what happens next,” the report warns, noting that citizens have no clear way of knowing how recovered funds are used. Proposals for a centralised Asset Recovery Agency and a national forfeiture database are seen as positive steps but risk adding “another layer of bureaucracy” if not
coupled with independent oversight.
Corruption Still Endemic Despite New Laws
Nigeria’s Corruption Perceptions Index (CPI) score for 2024 rose slightly from 24 to 25 out of 100, ranking 145th out of 180 countries. The marginal improvement, however, fails to mask deep-rooted challenges.
While reforms such as the Proceeds of Crime Act (2022), Money Laundering (Prevention and Prohibition) Act (2022), and Beneficial Ownership Register (2023) have strengthened the legal framework, enforcement remains inconsistent. Anticorruption agencies like the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) continue to record convictions and seizures, but selective prosecutions and political interference persist.
CISLAC describes this paradox as “a façade of compliance without systemic change,” echoing concerns raised in earlier editions.
Organised Crime and Insecurity on the Rise
The report also exposed Nigeria’s worsening insecurity and the commercialisation of organised crime. Citing data from SBM Intelligence, CISLAC reveals that between July 2024 and June 2025, at least 4,722 civilians were abducted in 997 incidents, with ₦2.57 billion paid in ransom. The total ransom demanded during the period reached ₦48 billion, highlighting a lucrative criminal economy that thrives amid weak policing and economic hardship.
In addition, separatist-related disruptions in the Southeast, especially “sit-at-home” protests, have inflicted economic losses estimated at ₦7.6 trillion since 2021. These figures, CISLAC says, underscore the intersection of governance failure, poverty, and insecurity.
Freedom of Information Still Largely Theoretical
Despite the Supreme Court’s April 2025 ruling affirming that the Freedom of Information (FOI) Act applies to all levels of government, compliance remains abysmally low. Only 11.4% of public institutions fulfil their disclosure obligations, according to CISLAC’s findings. The report highlighted a “deep-seated culture of secrecy” across government agencies, compounded by underfunding and political resistance. Out of more than 1,300 federal institutions, only 13 budgeted for FOI implementation in 2025, amounting to less than 0.0005% of national spending. Attempts to amend the Act to penalise journalists or “misuse” of information, reportedly proposed by NEITI, were described by CISLAC as “a regressive step that threatens civic freedoms.”
Weak Fiscal Transparency and Procurement Abuse
Fiscal governance also remains troubling. Nigeria scored 31/100 in the Open Budget Survey 2023, showing little improvement since 2021. CISLAC found evidence of budget padding, opaque subsidy spending, and defunct transparency portals such as the Open Treasury Portal.
Procurement, identified as “the single largest driver of corruption,” remains a major concern. EFCC Chairman Ola Olukoyede recently admitted that 90% of public sector corruption stems from procurement-related fraud. Scandals involving inflated contracts in Zamfara, Ebonyi, and federal ministries were cited as evidence of systemic abuse.
While the Tinubu administration introduced reforms in May 2025 to decentralise contract approvals, CISLAC warns that the changes could “expand opportunities for abuse unless matched with strong oversight and transparency mechanisms.”
Calls for Legal Protection and Civic Space
Perhaps the most glaring gap, the report notes, is Nigeria’s failure to enact a Whistleblower Protection Law. Nearly a decade after the 2016 policy, whistleblowers remain unprotected, with less than 5% of federal institutions maintaining internal reporting systems. Civil society organisations such as AFRICMIL and Media Rights Agenda (MRA) continue to advocate for legislation to shield informants from retaliation. At the same time, the civic space continues to shrink. Peaceful protests, including the Take It Back Movement’s April 2025 demonstrations, have been met with repression and arrests. Rafsanjani described this as “a dangerous regression that undermines democracy and the rule of law.”
CISLAC Executive Director and Head of Transparency International Nigeria, Malam Auwal Ibrahim Musa (Rafsanjani) with the SDG 16 Shadow Report 2025
One Year After, EDSG Begins Reenactment of Obaseki's Education Reforms
One year after taking office, the Edo State Government under Governor Monday Okpebholo appears to be finding itself. The government has quietly begun retracing its steps and restoring the very initiatives it once dismantled. In what now seems like a reluctant awakening, it has started to reenact key reforms initiated under the Godwin Obaseki-led administration, most notably in the education sector.
Towards the end of November 2024, the Okpebholo administration took a sledgehammer to the transformational structures it inherited. Systems that had repositioned Edo State as a model for innovation and efficiency were hastily torn down. The education sector, one of Edo’s most celebrated success stories, suffered the heaviest blow.
Before 2016 when His Excellency, Godwin Obaseki became Executive Governor, Edo’s education system was in crisis. Learning outcomes were poor, and the morale of teachers was abysmally low. Through datadriven policies and technology-enabled instruction, the Obaseki-led administration changed that narrative. Edo became one of Africa’s leading states for public education reform, a transformation built on evidence, structure, and political courage.
Central to this success was the Edo Supporting Teachers to Achieve Results (EdoSTAR) Teaching Fellowship Programme. It was not a political gimmick but a deliberate strategy to professionalize teaching and close the capacity gap in public schools. Between 2021 and 2022, 5,000 fellows were recruited, trained, and deployed statewide, alongside 300 technical and vocational teachers.
The programme combined technology with rigorous teacher development. Even
non-education graduates were enrolled in Postgraduate Diploma in Education (PGDE) programmes to meet global standards. EdoSTAR fellows received continuous mentorship and performance evaluations, ensuring classrooms were manned by competent and motivated educators. The EdoSTAR fellows were not hired to fill vacancies but to transform classrooms. They underwent a rigorous three-year professional development and mentorship programme. The result was a new generation of motivated, skilled, and technology-driven teachers delivering quality instruction across Edo’s schools.
By the time Governor Obaseki’s tenure ended, the absorption of these fellows into the teaching service had been completed. Appointment letters were issued to those who successfully completed the programme, signaling a smooth transition from fellowship to full employment. It was a system built to sustain itself, until politics got in the way.
Soon enough, the progress gained was abruptly disrupted. One of the current administration’s earliest actions was to cancel the appointments of these trained fellows. The decision put thousands of teachers in limbo, crippled school staffing, and reversed the gains painstakingly achieved under the EdoBEST and EdoSTAR
frameworks. Classrooms that once thrived on digital learning tools, were left in disarray.
A year later, the same government has now begun to quietly retrace its steps. The dismissed EdoSTAR fellows have now been reinstated, though the move has been shrouded in political opportunism. Instead of acknowledging the origin of the policy, the administration has attempted to repackage a pre-existing reform as a new one. This reversal, while welcome, exposes a disturbing lack of direction.
EdoSTAR was never just about recruitment; it was a structural reform anchored on teacher professionalism and measurable learning outcomes. Over 16,000 teachers across the state were trained to use digital tools, manage classroom data, and track student progress. More than 500,000 learners benefited from these methods, evidence that Edo’s education renaissance was real, not rhetorical.
Current reports that the government plans to recruit teachers with only National Certificate in Education (NCE) qualifications into secondary schools highlight a failure to grasp the reform’s intent. While NCE holders have their place in basic education, secondary schools require deeper pedagogical grounding. Diluting standards undermines the system that
As the Okpebholo administration attempts to remedy the unecessary damage it inflicted on Edo people, it must do so with humility and respect for institutional memory. Governance is not about reinventing the wheel; it is about building on tested foundations. There is no shame in acknowledging the original architects of successful reforms
once made Edo a national benchmark.
The broader problem is one of governance culture. Successive administrations in Nigeria often prefer to erase their predecessors’ legacies rather than consolidate on them. In Edo’s case, this habit has been costly. Political rivalry has displaced continuity, wasting time, resources, and the trust of stakeholders who simply want stable and functional institutions.
Edo people know what worked. They witnessed the transformation of schools, the empowerment of teachers, and the tangible improvement in pupils’ learning. They can also see through the cosmetic rebranding of policies that have merely been renamed. Progress is not achieved through denial; it comes through continuity and integrity in governance.
As the Okpebholo administration attempts to remedy the unecessary damage it inflicted on Edo people, it must do so with humility and respect for institutional memory. Governance is not about reinventing the wheel; it is about building on tested foundations. There is no shame in acknowledging the original architects of successful reforms.
If the Okpebholo administration finds it difficult to seek guidance from former Governor Obaseki, it should at least turn to those who worked closely with him in implementing the reforms in the education sector, individuals like Dr. Joan Oviawe and Mrs. Ozavize Salami and several others. They are Edo people who are very much alive and carry invaluable institutional knowledge. It is all for the good of Edo people and I believe they will be willing to help. Edo’s progress will be brighter not by erasing the great legacies of the past, but by learning from them, and sustaining what has worked in the past.
•Osagie is the special adviser media and strategy to former Governor Godwin Obaseki.
Crusoe Osagie
former Governor of e do s tate inaugurated the first batch of over 15,000 teachers trained and equipped to carry out digital instruction and classroom management in e do s tate during his tenure
Digital Asset markets
with Nicky Okoye (digitalassets@anabelgroup.com)
“Crypto Valley” as a Digital Asset Markets Hub
Nicky Okoye discusses the strategic impact of digital asset markets in the growth and dynamics of the global markets and dives deep into the monumental forces that are driving the growth of the next hundred trillion dollars in global GDP. In this series of essays, policy makers, legislators, enterprise executives and investors can gain strategic positioning variables as they unfold in real time.
From the 22nd of September to the 26th of September 2025, the Global Investment Advisory Community embarked on a strategic digital assets international retreat and roadshow which was hosted in Geneva and Zug Switzerland. The design, objectives and impact of our retreat and roadshow were consistent with the GIA Community’s key goals of expanding the institutional capacity of Nigerian capital market institutions, and expanding their international engagement with global digital asset markets players across the board. The roadshow was very successful, and major strategic alliances were concluded for our community. The Global Investment Advisory (GIA) Community, a strategic private coalition of local and global Investment Banks, Capital Markets operators, FINTECH firms and deposit money Banks, are all dedicated to the adoption of digital asset markets in Nigeria and subsequently across Africa.
Each segment of the digital assets international retreat and roadshow was designed with impact in mind. Our first two days was reserved for technical capacity enhancement for the Nigerian delegation. In this respect, special sessions on the tokenisation of real-world assets were held at EU Business School Geneva campus, and these were anchored by a long list of industry veterans which included but were not limited to, Dr Pan Theo Grosse-Ruyken, founder of the PTGR AG, a Digital Asset Institution, Allison Fromm, CFO 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. In addition, our roadshow included a train ride taken to Zug, a technology and blockchain hub which has been positioned by Swiss authorities , working closely with local authorities, as Europe’s Crypto Valley. While at Zug, extensive engagements were held with Block Chain technology companies and with digital asset markets investment institutions.
Zug, Europe’s Crypto Valley
The Global Investment Advisory Community was hosted in Zug, Switzerland, and we were received by Noumena Digital’s Co- founder and Co-CEO Juerg Kaeppeli, a strong delegation from the Swiss Banking Association led by Martin Hess, Chief Economist of the Swiss Banking Association and the past Chairman of Credit Suisse, Axel Lehmann. Zug, is known more for its picturesque landscape, is a small Swiss historical canton settlement with a more significant, and robustly growing local economy. Zug’s history is rich, and it dates back to medieval times, in which it was a trading hub. Zug’s role as a trading hub has continued to be enhanced by its strategic location along Switzerland’s major trade routes. In more modern times, Zug has become a modern center of commerce, technology and finance, with a very strategic importance emerging in the blockchain and digital asset markets space. In order to enhance Zug’s strategic importance to Europe and Switzerland, local authorities established a low corporate tax rate regime which has proven to create a very exciting business & investor friendly environment. In this regard, Zug has attracted several local and international companies, especially some of the World’s most reputable financial institutions and blockchain foundations. Zug is now considered a strong European financial center, a center of blockchain technology promoting digital asset markets and an important economic hub within Switzerland. Zug in recent times, has emerged as a diverse and rapidly evolving financial and digital asset markets hub composed of institutional investors, venture capital firms, private equity, family offices, and individual investors. This growing strategic community in Zug is actively engaging in the funding, development, and support of blockchain technology, cryptocurrency projects, and worldwide fintech projects. Positioning Zug to became Europe’s crypto hub, local authorities focused on providing a very favourable regulatory environment, very low corporate taxes, and extensive progressive legislation towards blockchain technology and the companies
that are funding blockchain establishment. Zug’s local government has moved very quickly, even as blockchain and digital assets grew across the World, to drive full adoption of digital asset markets as well as to support blockchain technology innovation within Zug. In particular, Zug is known to have accepted cryptocurrencies for specific government services very early in the crypto life circle.
Zug earned the nickname “Crypto Valley” as soon as this proactive government engagements and incentives started to pay off, attracting a very active community of developers and digital asset entrepreneurs, and blockchain innovators.
As Europe’s Crypto Valley, companies established in Zug benefit from several key tax incentives, these include but are not limited to:
1. Low Corporate Tax Rates: Offering some of the lowest corporate tax rates in Switzerland, with effective rates ranging between 12-15%.
2. Holding Company Privileges: Zug allows companies that are classified as holding or headquarters to enjoy further tax reductions, often benefiting from exemptions on certain income types as well as capital gains.
3. Flexible Tax Planning: Zug provides a stable and predictable tax environment. It also allows for transparent financial and digital asset regulations, allowing companies to optimize their tax structures.
4. Tax Treaties and Agreements: Zug based companies also benefit from Switzerland’s extensive network of double-tax treaties, reducing withholding taxes on cross-border income.
5. High quality Professional pool: A highly skilled workforce makes Zug a highly attractive location for international finance corporations and digital asset startups alike.
6. Excellent Investment Infrastructure: Zug also has made strong investment in high-quality investment infrastructure, including blockchain technology and digital connectivity.
EU Business School Geneva hosted Nigerian Digital Asset Markets delegation
EU Business School Geneva Campus was the first to play host to the historic delegation of Nigerian Finance and Capital Markets executives as part of Africa’s first Digital Asset Markets international digital asset markets retreat and roadshow. Accordingly, our engagements included strategic executive level capacity building at the EU Business School Geneva Campus, covering all areas for the tokenisation of real-world assets, including the processes, technologies, funding and global capital investment strategies. Our most strategic objective which was to ensure that the tokenisation and trading of Nigerian based real-world assets, could commence as soon as possible, working closely with strategic international digital assets institutional partners based in Switzerland and across the World.
The strategic partnership with the EU Business School, provided our Nigerian delegation with strong technical knowhow in the tokenisation of real-world assets and this has proven very valuable for our GIA Community members. The technical capacity that we are building with this and future programs as this, will result in a strong crypto and tokenisation ecosystem for Nigeria and subsequently for the entire African continent. The Dean of EU Business School Geneva Campus, Prof Stef De Jong
led the technical capacity building sessions at EU Business School.
Several Nigerian based Investment Banks, Corporate Trustees, Asset Management firms were part of the delegation, and they included, Nigeria’s Senate Committee Chairman for Capital Markets, Senator Osita Izunaso, the Group Managing Director of Meristem Group, CEO of Futureview Financial Services, CardinalStone, as well as executives from Nigeria’s leading indigenous oil and gas producer, Oando Plc and a host of others.
Strategic Steps Nigeria should take to design and build a Crypto Valley
In my opinion, Nigeria will need to plan to host a similar hub for the growth of the crypto and digital assets industry. I strongly believe that we can create a crypto hub similar to Zug by taking several strategic steps:
1. SEC Regulatory Framework: We need to continue to establish clear, supportive regulations for digital assets, cryptocurrencies and blockchain technology, that foster innovation while ensuring investor protection. SEC is currently leading in this space. However we also need to move beyond the regulation for crypto issuances and digital assets trading and extend our focus to include defining legal parameters for digital asset markets startups and building investor communities, that support digital assets.
2. Federal Government Support and Leadership: We need to promote national and sub-national government initiatives that actively support blockchain innovation. Government recognition and engagement can boost confidence and legitimacy.
3. Local, State and National Tax Incentives and Ease of Doing Business: We can offer attractive tax regimes, make the registration processes more simplified and reduced bureaucracy to attract local and international blockchain companies.
4. Investment Infrastructure Support: We need to design and develop a strong digital assets investment infrastructure, including reliable connectivity, secure payment systems, and access to venture capital.
5. Build Community Hubs: We need to foster a vibrant ecosystem with incubators, accelerators, co-working spaces, for startups in this space. National and Regional networking events need to be encouraged to enhance collaboration among blockchain developers, entrepreneurs, and investors.
6. Skills and Capacity Development: We need to invest in board based blockchain education, implementing training programs at universities. Special research projects to cultivate local talent and promote innovation will also be required.
7. International Partnerships: As the Global Investment Advisory Community has demonstrated, large international collaborative systems will need to be built and expanded with global blockchain hubs and digital asset global organizations to learn best practices, attract extensive foreign investment, and position Nigeria as a prominent player in the global digital assets ecosystem.
Strategic Crypto Hub Options for Nigeria
Nigeria boasts of a large, young, and tech-savvy population, with increasing access to digital connectivity. In particular, mobile adoption, digital
payment systems and virtual wallets are already common place in Nigeria and among Nigeria’s younger population. In the infrastructure space, Nigeria’s rapidly growing fintech sector demonstrates that there is a strong innovation potential for the digital asset markets, that will drive extensive user adoption for digital asset markets services. Nigeria has strong foundations in place for significant progress to be made in design and development of the investment infrastructure required for a World-Class Crypto Valley. Nigeria’s strong advantages include our young demographic, our entrepreneurial spirit, and striving technologically savvy population which are all necessary for a thriving crypto and digital asset markets ecosystem.
Whereas we are still struggling with challenges such as inconsistent electricity supply, limited broadband infrastructure in some parts of the Country, we believe that recent regulatory clarity from SEC Nigeria, regarding digital assets means that a roadmap for a crypto valley is important. Key areas that we need to watch include digital investment infrastructure, internet connectivity, and the ability to implement clear, supportive regulations for blockchain and digital asset markets. The missing element is currently the targeted investment required from stakeholders for a selected Digital Asset / Crypto Hub location. These are my options for a Crypto Valley in Nigeria: Lagos as a Crypto Valley
Lagos is Nigeria’s economic and financial hub, it has strong potential to become Africa’s premier crypto valley due mostly to several key factors. Lagos has a large, youthful, tech-savvy population and its growing fintech ecosystem fosters innovation and widespread entrepreneurship. Lagos already has vibrant startup incubators, strong investment communities, and a burgeoning digital economy that can support blockchain and cryptocurrency development.
Enugu as a Crypto Valley
Enugu, is suited in southeastern Nigerian, it has a strong emerging potential to become a regional hub for blockchain and digital innovation for all of Africa. It is currently known as a center of education and culture. Enugu has a strong growing base of young, tech-savvy entrepreneurs and students who are eager to explore expansive digital solutions. As the Enugu authorities focus on improving infrastructure, its strategic location in the southeast can support tech startups and fintech initiatives. If we apply the right support and strategies, Enugu could develop into a niche crypto and tech ecosystem, fostering innovation and economic development in Nigeria’s southeastern region, very similar to how Zug became a hub for Switzerland.
Abuja as a Crypto Valley
Abuja, is Nigeria’s Federal Capital Territory, Its status as a political and administrative center attracts government officials, policymakers, enterprise executives and professionals. It has a favourable environment for regulatory innovation and collaboration.
-Dr Nicky Okoye, Global Investment Advisor Founder and President Global Investment Advisory Community
L-R: Senator Osita Izunazo, Chairman Nigeria’s Senate Committee on Capital Markets, Dr Nicky Okoye, Founder and President, Global Investment Advisory (GIA) Community,SulimanAdedokun,ChiefExecutiveMeristemGroup,ataGIACommunitydigitalassetmarketssessioninZug,Switzerlandrecently
POLITY
Olukoyede’s Two Years: A Stand Out Affair
By Tony Egbulefu
Ola Olukoyede took over the leadership of the Economic and Financial Crimes Commission, EFCC, on Thursday, October 19, 2023 with a clear vision of repositioning the Commission for optimal efficiency in the line with global best practices.
This agenda is anchored on a robust pursuit of EFCC’s mandate, creation of an atmosphere for transparency and accountability in governance, prioritization of preventive strategies in the anti-corruption fight, strict adherence to the rule of law and better working conditions for officers of the Commission.
Right from the start, he left the officers of the Commission with no illusions of his agenda. “We are going to drive professionalism in discharging our duties in line with the rule of law. The rule of law is going to be our guiding light. We are going to drive EFCC to a place where when you see EFCC personnel, you will see a touch of professionalism. We are also going to be more involved in prevention, because it is better to save money for the government than to spend money on prosecution. My priority is to enhance staff welfare. We will build on what we have done before and there are prospects that we will do better things for every staff of the Commission,” he said.
By reason of a sterling leadership, he has gotten over the line his vision of a Commission that is better in character, more result-oriented and running on the wheels of professionalism, integrity, transparency, accountability and rule of law in just two years; leaving observers, including naysayers persuaded that indeed the man walks his talk.
Within this short period, new records of achievement are being set and old ones, tumbling in every aspect of the fight against corruption, economic and financial crime. In the last two years, total monetary recoveries in naira stood at ₦566,319,820,343.40, while the dollar component was $411,566,192.32.
Fifteen thousand, seven hundred and twenty-four petitions were received in 2024, with 12, 928 investigated. Of the number investigated, the Commission charged 5, 081 to court and secured 4,111convictions within the same year. The prosecution and conviction figures represented 47.70 percent and 53.74 percent increase, respectively from the 2023 figures.
The Special Control Unit Against Money Laundering, SCUML, of the Commission, mandated to monitor compliance of Designated Non-Financial Businesses and Professions, DNFBPs with the Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) regulations conducted 2,348 onsite evaluations of DNFBPs in 2024, representing 1,085 increase over the 1,263, examined in 2023.
The Department of Fraud Risk Assessment and Control, FRAC, created by Olukoyede to drive the Commission’s fraud prevention mandate with focus on Ministries, Departments and Agencies, MDAs, is up and running. It monitored financial disbursements for flagship federal government initiatives, including Pi-CNG, NG-CARES, NACA Global Fund Grants, RESET and ARMOR LOANS, and CBN COVID 19 Support Schemes. Its evaluation of the PI-CNG Project Contract valued at N88. 5 billion ensured 95 percent delivery of the buses and conversion kits.
Highlights of asset forfeitures include Nok University, Kaduna, renamed Federal
University of Applied Sciences, Kachia by the Federal Republic of Nigeria, and the recovery and handing over to the federal government of Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, measuring a staggering 150, 462.86sqm and comprising 753 units of duplexes.
The EFCC set both local and global real estate recovery with this feat. Besides this record-setter, several properties and real estates were also recovered from the former CBN governor, Godwin Emefiele. Cash recoveries from Emefiele to the federal government include $2.045 million before Justice Dehinde Dipeolu of the Federal High Court, Ikoyi, Lagos; $1.4m before Justice Ayokunle Faji of the Federal High Court, Ikoyi, Lagos and N1.04 billion before Justice Chukwujekwu Aneke of the Federal High Court, Lagos.
Also recovered are shares valued at N246,305,544 (Two Hundred and Forty Six Thousand, Three Hundred and Five Naira, Five Hundred and Forty Four Kobo), linked to a former Managing Director of the Nigerian Army Properties Limited, NAPL, Major-General U.M. Mohammed (retd).
Under Olukoyede, the EFCC in is prosecuting Abdulfatah Ahmed, former Kwara State governor for alleged N5.78 billion fraud; Willie Obiano, former Anambra State governor for alleged N4billion; Theodore Orji, former governor of Abia State, for alleged N47 billion fraud; Darius Ishaku, former Taraba State governor for alleged N27billion fraud and Yahaya Bello, former Kogi State governor for alleged N80.2billion and N110.4 billion fraud.
Others are, Saleh Mamman, former Minister of Power for alleged money laundering to the tune of N33,804,830,503.73; Olu Agunloye, former Minister of Power for alleged official corruption and fraudulent award of Mambilla Power Project contract to the tune of $6billion and Hadi Sirika, former Minister of Aviation alongside his brother, Ahmad and daughter, Fatimah in two separate charges for alleged N5.8 billion and N2.8 billion fraud; Halima Buba, Director/Chief Executive Officer of SunTrust Bank Ltd, alongside Innocent Mbagwu, Executive Director/Chief Compliance Officer
of the bank, for alleged money laundering to the tune of $12 million.
Under Olukoyede, the EFCC has stepped up the prosecution of Colonel Sambo Dasuki (retd), a former National Security Adviser, NSA. He was dragged before Justice Charles Agbaza of the Federal Capital Territory High Court, Abuja on Tuesday, March 25, 2025. Dasuki was re-arraigned alongside a former General Manager of the Nigerian National Petroleum Corporation, NNPC, Aminu Baba Kusa, Acacia Holdings, Limited and Reliance Referral Hospital Limited on a 32-count charge, bordering on breach of trust and dishonesty to the tune of N33,200,000,000 (Thirty-three billion, Two Hundred Million Naira).
Also facing prosecution for alleged money laundering, stealing and conversion of public funds to the tune of N1,488,425,629.000 (One Billion, Four Hundred and Eighty-eight Million, Four Hundred and Twenty-five Thousand, Six Hundred and Twenty-nine Naira), is the Accountant General of Bauchi State, Sirajo Muhammad Jaja.
Also within the period, the EFCC dragged Professor Usman Yusuf, former Executive Secretary, National Health Insurance Authority, before Justice Chinyere E. Nwecheonwu of the Federal Capital Territory High Court, Kuje, Abuja for alleged embezzlement and fraud to the tune of N90, 439, 178.00( Ninety Million, Four Hundred and Thirty Nine thousand, One Hundred and Seventy Eight Naira).
On Monday, March 18, 2024, Olukoyede restarted the prosecution of a former Peoples Democratic Party, PDP, chairman and ex-minister of Defence, Bello Haliru Mohammed, dragging him before Justice Peter Lifu for his alleged role in the diversion of N300 million meant for arms procurement through the Office of the ex-NSA, Dasuki.
Awerusuo Otorudo and Chukwuebuka Ehirim, promoters of Crypto Bridge Exchange, CBEX, monumental investment fraud are being prosecuted before Justice Muhammed Umar of the Federal high Court, Abuja for obtaining money by false pretence, inducement and misleading the public into a fraudulent
investment.
With Olukoyede, the EFCC set yet another record with the busting of a syndicate of 792 suspected cryptocurrency investment and romance fraud in Lagos on December 10, 2024. Out of the number, 194 are nationals of China, Tunisia, Philippine, Kharzartan, and Pakistan. All of the rogue foreign nationals have been prosecuted and jailed. A total of 102 who have served out their jail time have been deported as at August 15, 2025 in a synergized effort between the EFCC and the Nigeria Immigration Service, NIS.
The fight against illegal mining of the country’s solid minerals has received a shot-in-the-arm from the EFCC in the past two years, resulting in an unprecedented number of arrests of illegal miners, convictions and forfeitures of solid minerals and mining equipment to the federal government. On Wednesday, October 16, 2024, the Commission secured the final forfeiture of the sum of N2, 739,836,331.31(Two Billion, Seven Hundred and Thirty-nine Million, Eight Hundred and Thirty-six Thousand, Three Hundred and Thirty-one Naira, Thirty-one Kobo), being proceeds of illegal mining of solid minerals in Endo Community of Nasarawa State before Justice Emeka Nwite of the Federal High Court, Abuja.
To check national currency mutilation and the dollarization of the Nigerian economy, Olukoyede in March 2024, set up a “Special Task Force against Naira Abuse and Dollarisation of the Economy” in all the Commission’s 14 Zonal directorates and the headquarters for the enforcement of laws against the crime. The task force, through a resilient enforcement, has succeeded in changing the abusive habit of Nigerians in handling the national currency. No less than 70 culprits have been convicted for the misdemeanour.
In his agenda of prioritization of fraud prevention, Olukoyede within one year of assumption of office, established FRAC saddled with the responsibility of tackling the systemic issues that ensures the festering of corruption in MDAs. The department has become the game-changer in plugging leakages in public offices and in ensuring effective budget implementation.
Further in prioritization fraud prevention, Olukoyede set up a Visa and Immigration Fraud Unit in all the Commission’s zonal directorates and the headquarters to tackle visa and immigration fraud in the country. The establishment of the unit became compelling following the stream of fraud, taking place on immigration matters in the country.
Also to his credit is the establishment of Cybercrime Research Centre in the Commission’s New Academy in Giri, Gwagwalada Area Council of the FCT. The initiative takes strong roots in his desire to entrench financial integrity in Nigeria’s cyberspace and redirect the youth onto the path of ethical values.
To expand the geographical spread of the Commission, the EFCC boss embarked on the establishment of three additional directorates in Ekiti, Katsina and Anambra states, bringing the Commission’s zonal directorates to 17.
In the area of officers’ rights and welfare, staff promotion now comes as and when due. Last year alone, over 500 officers were promoted to new ranks following their successes in the promotional exam. In general, an atmosphere of joy and rejoicing prevails among the officers of the Commission because of payment of earned allowances.
•Tony Egbulefu is of the Media & Publicity Unit of the EFCC
OlaOlukoyede
Kayode tokede
Following elevated provisioning due to industry wide wind down of the Central Bank of Nigeria (CBN) forbearance regime, 10 top deposit money banks in the country declared N1.58 trillion loan impairment charges in half year ended June 2025, about a 59.6 per cent increase over N991.97 billion declared in the corresponding period of 2024.
This is as the lenders are making moves to reduce the negative impact of macro-economic challenges on their risk assets.
The loan impairment charges, often referred to as loan losses or credit losses, reflect provisions set aside by banks to cover potential defaults and deterioration in the value of their financial assets.
The figure represents the cost of risky lending and exposure to a
volatile macro-economic environment, including inflationary pressure, naira depreciation, and constrained consumer and business liquidity.
The banks are: Access Holdings Plc, Guaranty Trust Holdings Plc (GTCO), First Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc (UBA).
Company Plc, FCMB Group Plc, and Stanbic IBTC Holding Plc Amid hike in loan impairment charges, the 10 financial institutions, thus, declared N3.38 trillion profit before tax in H1 2025, about 5.98 per cent decline from N3.6 trillion declared in H1 2024.
THISDAY analysis of the banks’ financials results revealed that Zenith Bank, followed by ETI, and Access Holdings,
significantly increased their loan impairment charges in the period under review.
While Zenith Bank recorded N769.8 billion loan impairment charges in H1 2025, an increase of 83.2 per cent increase from N415.29 billion in H1 2024, ETI posted N263.99 billion loan impairment charges, about 40.4 per cent increase over N187.99 billion posted in 2024.
Access Holdings posted N230.07 billion loan
impairment charges, representing an increase of 87.4 per cent when compared to N122.7 billion declared in 2024.
Analysts noted that the N769.8 billion loan impairment charges by Zenith Bank paved the way for the H1 2025 interim dividend pay-out to shareholders. Zenith Bank declared an interim dividend amounting to N1.25 per share.
The equities section of the Nigerian Exchange Limited (NGX) closed trading activities last week at 155,645.05 basis points to hit a 52-week high fuelled by investors demand for fundamental stocks.
The NGX All-Share Index last week eached 52-week high at 155,645.05 basis points, up 4.48 per cent week-on-week (WoW) from 148,977.64 basis points it opened for trading.
Similarly, market
capitalisation rose by N4.23 trillion to close the week at N98.793 trillion, bringing the month-to-date and year-to-date return to 9.1 per cent and 51.22 per cent, respectively.
The upbeat sentiment was driven by a strong start to the third quarter (Q3) earnings season and heightened investor optimism ahead of additional results expected in the coming week. Notable stocks that appreciated include:Aradel Holdings Plc (+25.2per
cent), Dangote Cement Plc (+10.8per cent), MTN Nigeria Communications Plc(+8.6per cent), BUA Foods Plc (+6.5per cent), BUA Cement Plc (+12.5per cent), and Lafarge Africa Plc (+seven per cent.)
Sector performance was mixed as the Industrial Goods (+10.6per cent), Oil & Gas (+9.1per cent), and Consumer Goods (+3.9per cent) posted gains, while the Banking (-1.2per cent) and Insurance (-1.1per cent) indices declined. Despite the overall
positive sentiment, market breadth closed negative with 44 gainers against 49 losers. Aso Savings and Loans led the gainers table by 32.00 per cent to close at 66 kobo, per share. Aradel Holdings followed with a gain of 25.20 per cent to close at N790.00, while Eunisell Interlinked went up by 19.73 per cent to close to N57.95, per share.
On the other side, Livingtrust Mortgage Bank led the decliners table by 10.89 per cent
to close at N4.01, per share. Juli followed with a loss of 9.94 per cent to close at N8.06, while R T Briscoe declined by 9.84 per cent to close at N3.30, per share.
Overall, a total turnover of 3.695 billion shares worth N129.889 billion in 148,077 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.422 billion shares valued at N76.618 billion that exchanged hands previous week in 126,591 deals.
Analysts predicted a strong closing for the Nigerian stock market this week, driven by ongoing economic reforms, improved investor sentiment, and positive earnings momentum. The market rally was fueled by renewed buying interest in mid- and largecap blue-chip stocks as well as strategic sectoral reallocation by investors on the back of strong fundamentals.
Kayode tokede
L-R: Assistant Director, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Olatokunbo Karimu; Deputy Director, NUPRC Port Harcourt Regional Office, Dr. Ogechi Opete; Founder/CEO, Petralon 54 Limited, Ahonsi Unuigbe; Chairman, Board of Trustees, Koniama (Host) Community Development Trust (HCDT), Dr. Chris Biriowu and Executive Director, Petralon 54 Limited, Uduakobong Equere, at the unveiling ceremony and inauguration of the board of trustees Koniama (Host) Community Development Trust (HCDT), Rivers State…recently
Report: Bank Charges, Multiple Taxes Major Burden for Nigerian Businesses
A survey by the Central Bank of Nigeria (CBN) has revealed that high bank charges, multiple taxation, and poor infrastructure remain the leading challenges confronting businesses across the country. The findings, contained in the CBN’s Business Expectations Survey for September 2025, also showed that many firms expect inflation to remain elevated over the
next six months despite recent improvements in economic indicators.
According to the report, 70.8 per cent of respondents identified excessive bank and financial charges, as well as multiple taxes and levies from various tiers of government, as key obstacles to business growth. Poor infrastructure followed closely, cited by 70.7 per cent of businesses as a major constraint limiting productivity and expansion.
Agusto & Co Upgrades Jaiz Bank’s Credit Rating to A-
of “2.”
Jaiz Bank Plc, has announced that Agusto & Co. Limited, Nigeria’s foremost credit rating agency, upgraded the Bank’s credit ratings to A- (longterm) and A1 (short-term), both with a Stable Outlook, and assigned an ESG score
Group
Eromosele
Deputy
Comms/e-Business
Asst.
Asst.
Nume Ekeghe
Correspondents
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
This upgrade, Jaiz Bank said, reflects a strong financial fundamentals, sound risk management framework, effective governance practices, and consistent execution of its strategic growth and digital transformation agenda. It underscores the Bank’s resilience, capital adequacy, and commitment to ethical, sustainable banking that supports Nigeria’s economic development. Commenting on the development, Managing Director/CEO of Jaiz Bank Plc, Haruna Musa, stated: “We are delighted by Agusto & Co.’s recognition of Jaiz Bank’s progress and stability. This upgrade validates our ongoing efforts to build a resilient institution anchored on trust, performance, and innovation. We remain committed to continuous improvement, operational excellence, and delivering long-term value to all stakeholders.”
The survey further revealed that 69.2 per cent of firms listed an unfavourable economic climate among their top
challenges, while 64.8 per cent and 64.6 per cent highlighted insecurity and restricted access to credit, respectively, as factors
affecting their operations. At the lower end, 40.4 per cent of businesses mentioned competition, and 37.8 per centidentified
inadequate power supply indicating that financial and structural issues continue to pose greater risks than market pressures.
Q2: Insurance Sector Written Premium Hits N1.21trn
Ebere Nwoji
Insurance companies in Nigeria, in the second quarter of this year (2025) showed more strength in revenue generation posting gross written premium of N1.21 trillion, indicating 49.3 per cent growth rate when compared to the same period in 2024 and a 57.8 per cent quarter by quarter increase.
According to the National Insurance
Commission (NAICOM) the insurance sector recorded a notable performance amidst economic headwinds in the country, as captured in the Bulletin of the Insurance Market Performance recently released by the regulator.
According to NAICOM the insurance Industry’s total asset was about N4.4 trillion in the second quarter, compared to the N2.3 trillion reported in
the corresponding period of 2024.
A breakdown of the industry’s financial position revealed a total of N2.5 trillion in assets for Non-Life business while the Life business stood at N1.9 trillion.
Breakdown of the performance shows that non-life segment retained its relative dominance in the market, contributing 67.2 per cent to the total premium pool, mirroring
its performance in the corresponding quarter of 2024. On the other hand, the life Insurance segment accounted for 32.8 per cent of all the premiums generated during the same period. The non-life segment indicated that the Oil & Gas portfolio remained the major contributor, accounting for 31.2 per cent of the total Non-Life premiums during the quarter.
MTN Nigeria Market Capitlisation on NGX Hits 10.8trn
MTN Nigeria Communications Plc (MTNN) market capitalisation increased to the N10.8 trillion mark as of close of trading activities last week to become the third most capitalisation stock on the Nigerian Exchange Limited (NGX). The stock price of MTN Nigeria currently at N515 per share as of October 24, 2025 also makes it a
52-high so far this year amid renewed interest by investors over its resurgence from loss to profitability in first quarter 2025 and half year ended June 2025 result and accounts.
The telecommunication company has seen its stock price gain 157.5per cent or N315 per share in its Yeartill-Date (YtD) performance when compared to N200 per share it closed for trading 2024.
Further findings showed that MTN Nigeria stock price reached a 52-low of N169 per share this year.
MTN Nigeria reported a net income of N414.9 billion for H1 2025. This marks a 180 per cent year-on-year growth from the N519.1 billion net loss reported in H1 2024.
In its consolidated financial statements for H1 2025, the group recorded a turnover of N2.38 trillion
during the period. This represents a 54 per cent YoY growth from the N1.54 trillion reported in H1 2024.
This growth was observed across various revenue streams, including voice, data, and value-added services. Data revenue particularly saw a significant increase from N726.6 billion in H1 2024 to N1.23 trillion in H1 2025.
Petralon Inaugurates Host Community Devt Trusts for Dawes-Island Communities
Oriarehu Bonny
Petralon 54, an indigenous exploration and production company assigned the sole operatorship of the DawesIsland Field in Rivers State, has formally inaugurated Host Community Development Trusts (HCDT) for Dawes-Island communities – Ogoloma and Koniama
(Okochiri and Koniju) in Okrika Local Government Area.
By this corporate action, Petralon 54, a subsidiary of Petralon Energy, has yet again demonstrated its commitment to regulatory compliance, responsible business practices, stakeholder’s wellbeing, and community development.
The inauguration ceremony,
witnessed by major industry stakeholders, which included top government functionaries, oil industry regulators, community and women leaders, chiefs, and representatives of the traditional rulers (Amanayabos) of the host communities, held in Port Harcourt.
Welcoming guests to
the event, Founder and CEO of Petralon Energy, Ahonsi Unuigbe said that “instituting the HCDT is not just compliance with Section Three of the Petroleum Industry Act (PIA, 2021), but an expression of our company’s ingrained culture of identifying, addressing and aligning with the needs and aspiration of our stakeholders.
Nume Ekeghe
Nume Ekeghe
Kayode Tokede
Steering NGX Group Toward Social Impact
Kayode Tokede writes on how the Group Managing Director and Chief Executive Officer of NGX Group, Temi Popoola’s NGX Group leadership has emerged not only as a driver of capital formation but also as a force for community transformation.
Human Capital, Community Impact
Over the past year, NGX Group has demonstrated that a capital market institution can be both profit-oriented and profoundly people-centered. The Group’s flagship social impact initiative, Project BLOOM (Bringing Life to Our Overlooked Minors), recently held its second outreach in Ajegunle, one of Lagos’ most underserved communities. In partnership with the Lagos State Government and the Health Emergency Initiative (HEI), NGX Group has reached over 200 children and 180 caregivers, providing life-saving Ready-to-Use Therapeutic Foods (RUTFs), medical checkups, and nutrition education. The impact from the first outreach in Yaba, held in August, is already visible: among children aged 0–5 identified as malnourished or at risk, nearly 50% have entered the recovery stage within seven weeks of sustained intervention and monitoring.
What might appear to be a modest community programme is, in fact, a reflection of a larger philosophy, one that links social health to market health. Popoola has repeatedly emphasized that the strength of Nigeria’s capital markets cannot be separated from the strength of the society they serve.
“For us at NGX Group, building strong capital markets goes hand in hand with building strong communities, because inclusive growth and social well-being are the true foundations of a resilient economy,” he remarked. “Market development and human capital development are inseparable.”
Redefining Corporate Social Responsibility
Under Popoola’s leadership, NGX Group’s approach to sustainability and social responsibility continues to evolve from transactional giving to transformational investment. Through the Group’s Employee Volunteer Scheme, over 50 NGX Group staff have participated across both outreaches, working alongside health workers to assist with screenings, data collection, and caregiver training. This collaboration underscores NGX Group’s belief in shared responsibility for social progress.
Even so, the journey is not without challenges, from sustaining interventions in low-income communities to maintaining long-term tracking and support. Yet, by embedding data measurement and monitoring mechanisms into each outreach, NGX Group applies the same discipline it brings to the capital market to its social programmes. This alignment, evidencebased, measurable, and accountable, marks a quiet shift in how the private sector can operationalize empathy.
Digital Transformation as an Enabler
NGX Group’s social impact agenda is matched by an equally ambitious digital modernization journey that is redefining market access and inclusion. Central to this transformation is NGX Invest, the Group’s e-offering platform designed to democratize access to the primary market. Since its launch, the platform has supported corporates in raising over N2 trillion in capital, providing a more efficient and transparent subscription process for investors and issuers alike.
By simplifying participation and improving transparency, NGX Invest is expanding accessibility for retail investors, enabling them to participate seamlessly in public offers and rights issues. “Technology allows us to scale opportunity,” Popoola emphasizes. “But more
importantly, it allows us to scale trust.”
From the heart of Kano to offices in Victoria Island, digitalization is narrowing the geographic and socioeconomic divide in market participation. Retail investors continue to increase, creating a deeper and more resilient pool of capital.
This data-driven ethos extends beyond the trading floor. Project BLOOM also leverages technology to collate health data, measure outcomes, and track progress, reflecting the Group’s belief that digitalization can serve both market and human development.
Sustainability through Innovation
Beyond community and digital transformation, NGX Group’s commitment to environmental sustainability continues to gain momentum. The NGX NetZero programme, Nzero, launched under Popoola’s leadership, underscores the Group’s resolve to lead by example in driving climate action across Nigeria’s private sector.
Through Nzero, NGX is supporting listed companies in measuring, reporting, and reducing their carbon emissions, aligning corporate behaviour with global sustainability standards. The initiative not only promotes accountability but also positions Nigeria’s capital market as a platform for financing the transition to a low-carbon economy.
As Popoola has often stated, “Our vision is to create markets that thrive in harmony with society and the environment.” Nzero represents that vision in motion, linking market transparency, data innovation, and climate responsibility into one cohesive framework.
Expanding the Definition of Value
While some may view market performance and social investment as separate pursuits, NGX Group’s strategy presents them as two sides of the same coin. The underlying conviction is that in an emerging market like Nigeria’s, long-term profitability is inextricably linked to societal health and the expansion of the investing class.
This philosophy is reflected not only in NGX Group’s social initiatives but also in its market performance. As of September 2025, total market capitalization on NGX stood at N141.75 trillion, up from N02.94 trillion a year earlier, representing a 37.7% year-on-year growth. The sustained rise in market value underscores investor confidence, driven by greater transparency, innovation, and a growing alignment between economic and social progress.
Popoola
Reclaiming Trust: How Nigeria Fought its Way Off Grey List
Timothy Enietan-Matthews
When the Financial Action Task Force (FATF) placed Nigeria on its “grey list” in February 2023, it was more than a technical classification—it was a warning. The world’s largest black economy and Africa’s financial powerhouse had been tagged as a jurisdiction with “strategic deficiencies” in its fight against money laundering and terrorist financing.
For a country striving to attract foreign investment and rebuild global trust, the listing was a reputational blow. It raised red flags among international investors, slowed cross-border financial transactions, and added extra layers of scrutiny to Nigerian banks.
Now, less than two years later, Nigeria has emerged from that shadow. In a statement from Paris, the FATF confirmed Nigeria’s removal from the list, alongside South Africa, Mozambique, and Burkina Faso. It is a story not only of reform but of redemption—a narrative of how political will, institutional synergy, and disciplined economic management converged to restore confidence in Nigeria’s financial governance.
How Nigeria Got on the List
Nigeria’s journey to the FATF grey list was years in the making. The global watchdog’s 2023 evaluation found systemic weaknesses: poor inter-agency coordination, insufficient financial intelligence sharing,
with risk of collapse.
The President of Nigeria British Chamber of Commerce (NBCC), Mr. Abimbola Olashore, and former Chairman of KPMG Africa, Mr. Kunle Elebute, has declared that leadership transition is no longer optional but a necessity, warning that businesses that failed to groom successors would be faced
In a gesture of appreciation for customers’ loyalty, Access Bank, in its 17th DiamondXtra ‘Salary for Life’ promo in Jos has rewarded the grand prize winner, Abdurman Idris with N200,000 monthly salary for 15 years. The bank also rewarded many other loyal customers with other life-changing cash prizes.
Idris, a labourer from Rekos quarters in Jos expressed excitement over the gesture saying, “I am very excited about gesture, and I promise that I’m going to use the money to start up a business.”
His win is expected to have a positive impact on his life and business prospects, enabling him to achieve his dreams and improve his socio-economic status.
Another winner, Bitkat
and weak enforcement of anti-money laundering (AML) and counterterrorism financing (CTF) measures.
The country’s complex financial ecosystem—dominated by cash transactions, informal networks, and limited traceability—further compounded the challenge. Despite existing institutions like the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU), global assessors saw loopholes that could be exploited by criminal networks and terror financiers.
Being grey-listed came at a cost.
According to the International Monetary Fund (IMF), countries under increased monitoring typically experience a 7.6% reduction in foreign capital inflows. For Nigeria, already reeling from foreign exchange shortages, low investor confidence, and an overstretched fiscal space, the implications were dire.
Rebuilding a Soiled Image
The delisting did not happen by chance—it was the outcome of a rigorous, two-year reform process marked by deliberate coordination and institutional renewal. The FATF itself acknowledged that “Nigeria had stronger inter-agency coordination and improved implementation of
They stated this yesterday in Lagos at the NBCC Breakfast Meeting with the theme “Succession, Planning, Passing the Baton.”
Olashore said: “The theme could not be timelier. Across boardrooms, organisations, and even nations, one pressing question persists: who will carry the vision forward? Leadership is not measured by
Dimlong Mbok, a civil servant working with Jos North Local Government, won N200,000 cash prize. Mbok, who received the message about the draw and was initially hesitant to attend, said, “I told my wife to pray for me, and I’m happy I won.” He plans to use the money to invest in his housing project and has promised to open three other DiamondXtra accounts for his children, further solidifying his commitment to financial planning. “Access times, Access Bank”, he praised, expressing his gratitude to the bank.
Regional Manager for Plateau State, Rosemary Oyedim explained that the DiamondXtra ‘Salary for Life’ promo is not just a promo, but a reward scheme that has been consistently running for 17 seasons.
AML/CFT measures.”
Under the renewed financial architecture of the Tinubu administration, the Nigerian Financial Intelligence Unit became the anchor of reform, while the Ministries of Justice, Finance, and Interior worked closely to close long-standing gaps. The AttorneyGeneral of the Federation, Lateef Fagbemi, led the legal framework realignment; Minister of Interior, Olubunmi Tunji-Ojo, strengthened internal compliance systems; and the NFIU’s Chief Executive Officer, Hafsat Bakari, spearheaded intelligence modernization.
At the policy level, the Ministry of Finance and the Coordinating Minister of the Economy, Wale Edun, played a quiet but central role—integrating fiscal transparency into broader economic reforms, enhancing financial reporting standards, and ensuring that Nigeria’s monetary and fiscal authorities moved in sync.
It was under this harmonized leadership that Nigeria not only met FATF’s action plan requirements ahead of schedule but also demonstrated that reform could be both structural and sustainable.
Beyond Delisting: The Broader Economic Picture
The FATF delisting coincides with two other notable economic markers—a
consistent decline in Nigeria’s inflation rate and a gradual rise in foreign reserves. While modest, these indicators collectively point to a broader story of recovery and stabilization.
Under Wale Edun’s stewardship, the Ministry of Finance has pursued policies that restore investor confidence and enhance fiscal discipline. The removal of multiple exchange rate windows, fiscal tightening, and renewed emphasis on transparency have begun yielding measurable results.
Inflation, which had spiked sharply in 2023 following fuel subsidy removal and foreign exchange reforms, has started to ease month-on-month. Simultaneously, foreign reserves—bolstered by increased diaspora remittances, renewed investor interest, and oil revenue stabilization—are edging upward for the first time in nearly three years.
Though these gains may appear incremental, they represent the early fruits of deliberate, coherent policymaking—a stark contrast to the policy inconsistencies that previously plagued Nigeria’s fiscal and monetary space.
Edun noted that the economic gains are a direct offshoot of the policies put in place by the present administration, in efforts to ensure the nation’s economy bounces back on track.
• Enietan-Matthews a policy analyst wrote from Lagos
The story continues online on www.thisdaylive.com
Chart Course for Successful Business Succession
tenure but by transition. It is not merely about reaching the summit but about ensuring that others can continue the
Kayode Tokede
climb after us.”
Elebute, who was also the Senior Partner at KPMG Nigeria, said that owners
and leaders who desire their business to succeed beyond you’re their time and still thriving should be deliberate
in embracing corporate governance, picking leaders in the right way and investing on leaders of tomorrow, etc.
ETF, and Vetiva S&P Nigerian Sovereign Bond ETF.
The announcement reflects Vetiva’s continued focus on delivering competitive returns to investors.
The three ETFs are: Vetiva Banking ETF, Vetiva Griffin 30
Vetiva Fund Managers Limited has announced interim distributions for three of its flagship Exchange Traded Funds (ETFs), reaffirming its role as a pioneer in Nigeria’s ETF landscape and a trusted partner for investors seeking diversified exposure to the nation’s capital market.
The Association of Securities Dealing Houses of Nigeria (ASHON) has reaffirmed its commitment to technological advancement, policy advocacy, and market development during its Annual General Meeting (AGM).
Speaking at the event, the Chairman of ASHON, Mr. Sam Onukwue, emphasised
Sunday Ehigiator
LAPO Microfinance Bank has been named Microfinance Bank of the Year at the 13th edition of the Banks and Other Financial Institutions (BAFI) Awards, marking the institution’s 12th
the need for continuous investment in technology and capacity building to ensure members remain competitive and aligned with evolving regulatory standards.
“The accelerating pace of technological innovation in the securities industry demands continuous investment and capacity
consecutive win in the category.
The award, which recognises excellence and innovation across Nigeria’s financial sector, underscores LAPO’s consistency, resilience, and leadership in providing inclusive financial services
These distributions, Vetiva said, reflect proven ability to deliver sustainable value through its well-managed suite of ETFs that track key market indices, providing investors with liquidity, transparency, and efficient market access. Speaking on the development, Managing Director of Vetiva Fund Managers Limited, Mrs. Oyelade Eigbe said: “At Vetiva, our goal is to make investing simple, transparent, and rewarding.”
enhancement. Members are encouraged to prioritise training, cybersecurity, and digital trading infrastructure to maintain competitiveness and regulatory alignment. The
Association has strengthened its collaboration with the NGX, CSCS, NASD, LCFE, and FMDQ partnerships that continue to drive
to low-income earners and micro, small, and medium enterprises (MSMEs).
Speaking at the event, Director of Marketing and Communications at LAPO Microfinance Bank, Oluremi Akande said the recognition affirms the bank’s
policy initiatives promoting market growth and investor protection,” Onukwue stated. He further highlighted ASHON’s proactive role in policy engagement throughout the year, noting that the Association consistently represented members’ interests before regulators and market institutions.
enduring impact in the financial inclusion space.
“LAPO has consistently won this award category, a clear recognition of our invaluable contributions and impact made through the delivery of superior financial services to the last-mile,” Akande said.
Seriki Adinoyi in Jos
Dike Onwuamaeze
Dangote Group: Sustaining Brand Supremacy amidst Economic Headwinds Business Special
Amidst Nigeria’s turbulent economic landscape, characterised by currency devaluation and subsidy removal, many brands have faltered, yet Dangote Industries Limited remains resilient, reaffirming its position as Africa’s leading industrial conglomerate and Nigeria’s most valuable brand for the eighth year running. In this analysis, Raheem Akingbolu writes on the intentional strategy and painstaking communication management skills that allow the Dangote to maintain its unassailable lead
When judging corporate giants, the truest measure of success is not merely profitability, but unwavering consumer resonance and demonstrable resilience, particularly when the economic landscape is fraught with profound uncertainty. In the challenging Nigerian market, one name consistently echoes dominance, cementing its status not just as Africa’s leading industrial conglomerate but as the benchmark for enduring brand equity.
Thus, when the esteemed Top 50 Brands Nigeria ranking recently unveiled its 13th edition, it came as little surprise to discerning observers that Dangote Industries Limited has, once again, emerged as Nigeria’s ‘Most Valuable Brand,’ securing this coveted position for the eighth consecutive year. This achievement is particularly significant as it highlights the most admired and resilient entities currently powering the nation’s economy.
By securing an impressive Brand Strength Measurement (BSM) Index of 86.3 points, Dangote has demonstrated an exceptional ability to maintain its position as the most trusted brand in Nigeria. This recognition, spanning sectors such as cement, sugar, salt, fertiliser, and now, petroleum refining, echoes the group’s consistent commitment to industrial excellence, innovation, and profound impact.
The Unfolding Competition
Whilst Dangote maintained its unassailable lead, the 2025 ranking featured stiff competition, yet the top tier remains highly focused on consumer connectivity. Telecommunication giant, MTN Nigeria, followed closely in the second place, scoring 83.4 points, whilst simultaneously emerging as the Most Popular Brand based on consumer perception. Airtel Nigeria secured the third rank, with Globacom and Access Bank completing the top five list. The only confounding part of this continuing success story has been the tumultuous condition of the broader Nigerian economy. As a result of pervasive local economic headwinds, including subsidy removal and currency devaluation, the same factors that caused many companies to crumble and numerous brands to lose focus, Dangote has remained relentlessly strong. This consistency suggests that this dogged business has mastered new ways of operating, particularly in the critical areas of customer engagement and cost management.
The Intentional Strategy
One crucial question analysts consistently pose is how this brand and its promoters have managed to weather storm after storm,
particularly given the stiff competition across various sectors. For the Dangote brand, its sustained ranking is not accidental; it is a profound testament to its commitment to excellence, innovation, and sustainable growth.
Speaking on this continued accomplishment, Group Chief Branding and Communications Officer for Dangote Industries Limited, Mr. Anthony Chiejina, captured the brand’s ethos perfectly: “This recognition is a testament to our consistent investment in quality, innovation, and brand integrity.”
He further stressed the deeper purpose: “At Dangote, we believe that the soul of business is not just in making profit, but in making people happy by creating opportunities, empowering communities, and contributing meaningfully to Nigeria’s industrial transformation. Our brand promise remains rooted in trust, excellence, and service to humanity.”
It is precisely this commitment, observers noted, that is meticulously communicated and managed by the brand’s custodians. Indeed, analysts have often linked the Dangote brand’s success story to the painstaking communication management skill of Mr. Chiejina, who has been celebrated internationally for his strategic capabilities. Judging by the masterly manner in which he and his team strategically position the brand through effective and stakeholder-focused communication despite monumental challenges,the implications are clear:
A Reflection of Nigerian Resilience
The ranking platform’s Chief Brand Analyst and Convener, Taiwo Oluboyede, underscored the national importance of these findings, noting that strong brands remain vital to development. He stated categorically that the “Brand is not just an essential component of an organisation; the brand is the organisation,” serving as a mirror reflecting performance in the hearts and minds of Nigerians.
The 2025 ranking is a significant marker for indigenous prowess, celebrating the growing strength of local brands. Seven of the top 10 positions were occupied by Nigerian companies, a resounding testament to the competitiveness and resilience of local enterprises. The Banking & Financial Services sector demonstrated remarkable strength, accounting for 15 entries on the list, whilst new entrants like Moniepoint and THISDAY Group made their debut appearances.
Oluboyede lauded the spirit driving this success, stating that the initiative celebrates not just corporate excellence but also the “Naija spirit,” which embodies the creativity and resilience that define Nigerians globally. With operations spanning multiple industries and a growing global footprint—evidenced by the recent wins at the 15th annual
Brand Africa 100 ceremony, including the Most Admired African Brand title, Dangote continues to embody this spirit of transformation, driving local production, job creation, and regional competitiveness.
The brand’s promoters
Looking back at the growth trajectory of the Dangote brand, it’s very easy to arrive at the various factors that have helped it succeed in the marketplace. Of course, key factors for brand success like a strong strategy, defined target audience and unique value proposition have played major roles but there are more to the brand’s success. There is a kind of emotional connection between the brand and the consuming public as a result of the good work being done by the eggheads overseeing its communications.
A quick look at the story of the Dangote brand shows authenticity and personality in its approach to the market. If indeed a brand’s personality, voice, and story are crucial for building an emotional connection and trust with its audience, then Dangote is well positioned for it.
On this note, the communication management team at the Dangote Group deserves a laurel. In particular, observers have linked the success story of the Dangote brand to the painstaking communication management skill of its number one spin doctor -the brand’s Group Head of Corporate Communications, Mr. Chiejina, who was last year named as one of the “100 most influential communications and marketing executives in the world 2024,” by Global PR firm, Provoke Media. Those who hold this view often make reference to the success stories of other brands like Zenith Bank and the rested Oceanic Bank that had once passed through Chiejina.
The implication of the ongoing development is that Dangote is winning because it has good custodians to lean on, which was confirmed by Provoke Media that he was selected among the best in the world because of his immeasurable contribution to the growth of the Dangote Brand.
In a recent analysis, THISDAY spoke to some communications experts, who all confirmed that Chijiena is a blessing to the brand and to the nation’s marketing communications landscape.
Founder and Chairman of Proshare Limited – Nigeria’s foremost Financial Information Hub, Femi Awoyemi, captured it succinctly when he concluded that to measure the equity of Chijiena brand, may require a glimpse at the success story of the brands he has built over the years.
President, Dangote Group, Alhaji Aliko Dangote
Dangote is winning because it has good custodians to lean on.
APM Terminals Donates Medical Equipment to Boost Maternal Health in Lagos
Oriarehu Bonny
APM Terminals Apapa has donated vital medical equipment to the Simpson Primary Healthcare Centre in Ebute Metta, Lagos, as part of its ongoing commitment to improving maternal health and supporting its host communities through corporate social responsibility.
Speaking at the handover ceremony, the Chief Executive Officer of APM Terminals Nigeria, Mr. Frederik Klinke, expressed his delight at the initiative, describing it as a reflection of the company’s dedication to uplifting the living standards of communities where it operates.
He noted that APM Terminals has consistently
supported the health sector by installing power systems and renovating health facilities in different parts of Lagos.
“We are proud of the investment and the work done here to increase the survival rate of children, and I hope the community will maintain the equipment and put it to good use,” he said.
The Terminal Manager of APM Terminals Apapa, Mr. Steen Knudsen, explained that the company’s corporate social responsibility focuses on three key areas: health, education, and the environment.
The Permanent Secretary of Lagos Health District IV, Dr. Abimbola Bowale, praised APM Terminals Apapa for the donation, describing
it as a testament to what can be achieved when the public and private sectors work together.
“Your decision to invest in Simpson Primary Healthcare Centre, Ebute Metta, is an act of visionary leadership. The community will benefit greatly, and this project should stand as an example for others to emulate,” he said.
Representing the Senator for Lagos Central Senatorial District, Mr. Giwa Rasheed commended APM Terminals for its investment in healthcare, describing the centre as a lifeline that will serve mothers and children in the area, making quality healthcare more accessible and affordable.
PTML Customs Collects N350bn Revenue In Nine Months Month
Comptroller Joe Anani, the Customs Area Controller of the Ports Terminal Multiservices Limited (PTML) Command of the Nigeria Customs Service (NCS) has announced sum of N350,347,173,787.92 from January to September, 2025 as revenue collected in the first nine months of the year
Speaking at his maiden press briefing ,he said the collected figure is 96.64% and almost equal to the N362,521,085,250.98 that was collected by the Command from January to December, 2024. According to him, the
Command also intercepted a 1X20FT container with marks and number GCNU1275880 falsely declared as supermarket items but upon 100% examination was found to contain pharmaceutical drugs.
He also revealed that for third quarter, 2025, the Command recorded a total of N116,243,603,670.58 revenue which is 34.3 per cent higher than the N86,584,012,733.43 that was collected during the third quarter of 2024. According to him a comparative analysis of
the Command’s revenue performance in the last quarter shows that the command has maintained a steady increase in collection and this is happening despite the teething challenges of the B’Odogwu platform which the Command is fast overcoming. He added that in line with the CGC’s directive on enhancing customs community relationship, the command’s existing relationships with sister government agencies and other stakeholders have been boosted.
‘Greenwich’s N50bn Recapitalisation Milestone of Strength, Stability’
Bennett Oghifo
Greenwich Merchant Bank has successfully met the Central Bank of Nigeria’s (CBN) N50 billion minimum capital requirement for merchant banks, marking a major milestone in its transformation and reaffirming investor confidence. Founded in 1992 as Greenwich Trust Limited, the institution transitioned into a full-fledged merchant bank in 2020, operating across corporate banking, investment banking, treasury, asset management, and
securities trading.
Chairman Kayode Falowo described the recapitalisation as both compliance and a reaffirmation of confidence in Nigeria’s economy. The N50 billion target was achieved through a rights issue and private placement, raising N22.6 billion in new equity.
Managing Director Benson Ogundeji said the strengthened capital base will enable the bank to finance large-scale projects in infrastructure, energy, and manufacturing while expanding wealth management and digital
innovation.
The recapitalisation aligns with the CBN’s directive to bolster capital adequacy across the sector.
Greenwich recently earned an ‘A-’ credit rating from Agusto & Co., underscoring its stability and governance strength.
As it enters a new growth phase, Greenwich aims to deliver sustainable returns and deepen its role in Nigeria’s economic diversification. The milestone reinforces its reputation for resilience, prudent leadership, and long-term value creation.
MMS Hall of Fame: Zenith, GTCO Lead in Gender Policy Compliance
Two of Nigeria’s top financial institutions, Zenith Bank Plc and Guaranty Trust Holding Company (GTCO), have been named winners of the Corporate Leadership Award for Gender Policy Compliance by the MMS Woman of Fortune Hall of Fame (WoFHoF) Initiative.
In a statement signed by the Chairperson, 2025 MMS Hall of Fame Induction Committee, Aisha Mahmoud, the initiative said the award followed an independent assessment of 24 commercial and six
non-interest banks, based on publicly available data from their websites and social media platforms.
The group noted that only five banks met the criteria of publishing three consecutive years of annual and sustainability reports in line with the Central Bank of Nigeria’s (CBN) gender policy and corporate governance guidelines.
“Among the five, GTCO and Zenith Bank led with a strong show of commitment to gender equality and
compliance with the CBN’s target of 30 percent female representation on boards and 40 percent in management positions,” the statement said.
While Zenith Bank Plc was nominated as the Best Gender-Diversity, Equality, and Inclusive (DEI) Bank in Nigeria by the MMS Hall of Fame Leadership -Impact Assessment Committee; GTCO emerged as the Best CBN Gender Policy Compliant Bank in Nigeria for 2025, following its performance in transparency and board diversity.
(Gabon), Iran Heavy (Islamic Republic
Basrah
(Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
L-R: Giwa Rasheed, representing Senator Wasiu Eshilokun (Lagos Central); CEO of APM Terminals Nigeria, Frederik Klinke; Chairman, Lagos Mainland Local Government, Jubril Emilagba; Permanent Secretary, Lagos State Health District IV, Dr. Abimbola Bolawe; Permanent Secretary, Lagos State Health District V, Dr. Dayo Aseyombi; Permanent Secretary, Lagos State Health District III, Dr. Monsurat Adeleke; Representative of the Permanent Secretary, Primary Healthcare Board, Shakirat Adeosun and Terminal Manager, APM Terminals Apapa, Steen Knudsen when APM Terminals Apapa donated medical equipment to Simpson Primary Healthcare Centre in Ebute Metta, Lagos...recently
Shareholders of Academy Press Approve 15kobo Dividend Payout
Kayode Tokede
The shareholders of Academy Press Plc, has approved the company’s 15 kobo dividend payout for 2025 financial year, about 50 per cent increase over N0.10 paid in 2024 financial year.
Also, the shareholders at the company’s 61st Annual
General Meeting(AGM) held in Lagos approved the issue of a bonus share of one for every five shares , which is expected to transform into 150,200,000 ordinary share of 50kobo, resulting in the sum of N75.6 million appropriated from retained earnings.
After the approval by shareholders, the issued share capital of the company
moved from 756 million to 907 million shares.
Speaking to shareholders at the AGM, the Chairman, Academy Press, Mr. Babatunde Dabiri noted that the board considered the dividend payment trend to enhance performance despite the expected capital needs of the company.
He expressed that the
company achieved a positive performance in the 2025 financial year amid a harsh and challenging environment.
He stressed that the management’s strategic direction and the determination of its workforce aided in the company to achieve its target in the 2025 financial year.
In the 2025 financial year, Academy Press achieved a
revenue of N4.6billion from N4.5 billion in 2024 financial year. The profit before tax rose to N1.17 billion in 2025 against the previous year’s N264 million. The growth in profit before tax was driven by the extraordinary income that was generated during the period.
Dabiri disclosed that the company in the 2025
financial year sold a nonearning asset to release funds for its diversification project. The Chairman of Academy Press stated that the company’s 5-year strategic plan remains the bedrock of its business direction.
“The expansion and diversification agenda contained in the plan is consciously being implemented and realized.
Milestone
Gbolahan Elias @ 65: A Complete Gentleman
By Akindele olumideko
Acouple of years ago, precisely 1984, the Late Alhaji Wahab Iyanda Folawiyo, the then ‘Baba Adinni’ of Nigeria gave a major financial donation to the Virology Department of the College of Medicine of the University of Ibadan. Due to his self-effacing personality and personal philosophy with respect to benefactions, he gave strict instructions that the beneficiaries should not publicize his contribution. However, Professor Oyewale Tomori-eminent virologist and former President of the Nigerian Academy of Science who was then the Head of Department ‘disobeyed’ his directive and published a major article in the newspaper in order to appreciate the kind gesture of the ‘Baba Adinni’. He, Professor Tomori reasoned that it was important for the ‘whole world’ to know about the benefaction and by so doing encourage others who would like to emulate the ‘Baba Adinni’ to act likewise.
Knowing Gbolahan Elias as I have known him reasonably closely for about two decades, he is such a self-effacing and intensely private individual that he would prefer his milestone Sixty- fifth birthday to pass quietly without fanfare. However, yours truly would be doing humanity a great disservice if I do not publish the good qualities of such great personality, erudite lawyer and complete gentleman. It is also important to publicly appreciate his ‘silent’ activities as a consummate philanthropist to the extent that the succeeding generation, unfortunately bereft of authentic role models would have a towering legal mind to look up to and possibly emulate.
Professor Gbolahan Elias, SAN, FCI Arb, FCTI-hereinafter simply referred to as `Gbolahan’ as he prefers to be called was sired by no less a great legal cum judicial personality unarguably the greatest legal mind ever produced by Nigeria nay Africa. The legendary, Venerable Dr. Taslim Olawale Elias, QC, GCON former Attorney-General and Minister of Justice of the Federal Republic of Nigeria, former Dean (and the first African so appointed) of the Faculty of Law of the University of Lagos, former Chief Justice of the Federal Republic of Nigeria and former President (and till date the only African so elected) of the International Court of Justice (ICJ), the Hague, Netherlands. Gbolahan was born on the Twenty- sixth day of October in the year of our Lord Nineteen Hundred and Sixty to Dr. Taslim Olawale Elias and Olori Yetunde Ganiyat Elias both of blessed memory. Gbolahan was born into royalty and has authentic royal blood flowing through his veins. He is a scion of the Ado Royal Family of the Akinsemoyin Ruling House of Lagos. Without any iota of doubt therefore Gbolahan is a Prince of Isale Eko and I suppose in line for the Obaship of Lagos when the position becomes vacant!
Not unexpectedly, Gbolahan enjoyed a pure `ajebota’ background by attending
different Corona Schools in Lagos for his primary education. Subsequently, he gained admission into and was educated at the top-of-the-range, high profile and ‘elitist’, Igbobi College, Yaba, Lagos for his secondary education. It is noteworthy that Igbobi is also the alma mater of his late father as well as that of his two brothers Olusoji and Olufemi. For his university education, Gbolahan attended the Magdalene College of Oxford University in the United Kingdom between 1977 and 1989. He earned a doctorate degree in Law at the aforementioned institution before returning to Nigeria to attend the Nigerian Law School. Gbolahan was called into the Nigerian Bar in 1981 and subsequently enrolled at the Supreme Court of the Federal Republic of Nigeria as a Barrister and Solicitor. Besides, he took prescribed examinations, passed and was admitted into both the New York State Bar and the New York Federal Bar. He served his tutelage at the Chambers of Mr. Kehinde Sofola, SAN also a former Attorney-General and Minister of Justice of the Federal
Republic of Nigeria before founding the Law firm, G. Elias & Co. in 1984. Gbolahan was admitted into the inner bar of the legal profession of Nigeria in the year 2005 i.e Twenty years ago thus becoming a Senior Advocate of Nigeria (SAN). He is also a Fellow of the Chartered Institute of Arbitrators as well as Fellow of the Chartered Institute of Taxation among other professional achievements.
A major project to possibly change the face of philanthropy in universities in Nigeria brought Gbolahan and I together about twenty years ago. This gave me the singular opportunity and a unique privilege to observe such great personality, the ‘seed’ of a greater personality at close quarters. Unknown to many therefore, a major aspect of Gbolahan’s life that is totally out of public view is his philanthropic inclination especially in the ‘retail’ category! It is definitely not an understatement to posit that Gbolahan is a self-effacing philanthropist, financially generous and deeply kind hearted. Countless School fees, Hospital bills,
Prescribed medication etc. are funded by him on a daily basis without noise or fanfare. He definitely operates in line with the scriptural principle that when a person give alms (or does acts of charity), the ‘left hand’ should not know what the ‘right hand’ does, for the Father who sees in secret rewards openly! Indeed, God has consistently rewarded him with robust health, solid family life and a successful Law firm among others. Another aspect of Gbolahan’s life that is worthy of mention is his attitude to work. He believes uncompromisingly in the virtue of hard work and that hard work does not kill! He definitely leads by example in this regard. For Gbolahan, every day is day of work! No Saturday, No Sunday, No Public Holiday! No wonder his Law firm is one of the most sought after in Nigeria.
Moreover, in my considered opinion he has achieved some milestones that would be difficult to equal if not impossible to surpass in this generation! First and foremost, Sigma Club, University of Ibadan found him worthy to be admitted into the exclusive, respected and highly revered Sigma Club ‘Roll of Honour’ as an honorary Sigmite thus becoming till date, the son of an honorary Sigmite to become an honorary Sigmite! A record in the annals of the Club.
Sigma Club is a social and philanthropic student organization founded in 1950. This makes the Club the oldest university student organization in Africa, South of the Sahara. Apart from Dr. Taslim Elias and Professor Gbolahan Elias, other honorary Sigmites included the Late Dr. Alex Ekwueme – former vice-president of the Federal Republic of Nigeria, the Late Dr. Christopher Kolade, Nigeria’s former High Commissioner to the United Kingdom and other eminent personalities. Secondly, he was not too long ago appointed the Chancellor of the Lagos State University (LASU), Lagos. In this arena also, Gbolahan has established a world record, in that by that singular appointment, he became the son of the Chancellor of a university who was appointed the Chancellor of the same university! As a matter of fact, Dr. Taslim Elias held the unusual title of ‘Life Chancellor’ of LASU in his lifetime! The first and the only Chancellor of a university in Nigeria to be so designated till date! Furthermore, it must be stated clearly, unambiguously and unequivocally that a major attribute of Gbolahan is his amiability, humility and simplicity. He never has to harass or intimidate anyone with the often repeated ’Naija’ question, do you know who I am? This is in spite of his illustrious antecedents, cathedral dignity and supreme elegance. He allows his work to talk for him. He carries so much greatness with softness, simplicity and humility.
Here’s wishing Gbolahan a happy birthday - which also coincides with the Twentieth Year of his admission as a ‘silk’ and many more years of distinguished service to humanity. •Olumideko, wrote from Lagos
Gbolahan Elias
WORLD CONGRESS AND 75TH ANNIVERSARY OF THE INTERNATIONAL PRESS INSTITUTE IN VIENNA...
L-R: Nigeria’s Minister of Information, Mallam Mohammed Idris Malagi; IPI Board Member, Alh. Raheem Adedoyin; and IPI Executive Director, Mr. Scott Griffen, during discussions at the World Congress and 75th Anniversary of the International Press Institute in Vienna, Austria, at the weekend
Agama: 3m Nigerians Invest in Capital Market, 60m Engage Daily in Gambling Activities
Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has lamented that while fewer than three million Nigerians invested in the capital market, more than 60 million engaged daily in gambling activities, spending an estimated $5.5 million every day.
Agama made the revela-
tion in a lead paper, titled, “Evaluating the Nigerian Capital Market Masterplan 2015-2025,” presented at the annual conference of Chartered Institute of Stockbrokers.
He said, “This reveals a paradox, an appetite for risk clearly exists, but not the trust or access to channel that energy into productive investment.”
He disclosed that over $50 billion worth of cryptocurrency
transactions flowed through Nigeria between July 2023 and June 2024, underscoring the sophistication and risk tolerance of investors that the traditional market has yet to Agamacapture.raised concern over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than four per cent of the country’s adult
population are active investors. He described the low participation rate as a major impediment to economic growth and capital formation.
Agama also lamented that Nigeria’s market capitalisationto-GDP ratio was about 30 per cent, far below South Africa’s 320 per cent, Malaysia’s 123 per cent, and India’s 92 per cent, a disparity he said highlighted the urgent need to deepen
financial inclusion and rebuild investor confidence.
Recalling the vision of the 10-year CMMP launched in 2015, the SEC boss said it was designed to reposition Nigeria’s capital market as the engine of economic transformation by mobilising long-term finance for infrastructure and enterprise development.
Agama said, “Today, as we stand at the sunset of that 10-year plan, our task is not ceremonial; it is reflective and diagnostic. We must ask: what did we achieve, where did we fall short, and what lessons must anchor our next decade of reforms?”
concentrated in a few large- cap stocks, like Airtel Africa, Dangote Cement, and MTN Nigeria.Agama listed six key chal- lenges for the next phase of reforms to include retail participation, market concentra- tion, falling foreign inflows, underutilised pension assets, untapped diaspora capital, and a widening infrastructure financing gap.
Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, recorded sales revenue of N780.48 billion in the nine months of 2025, representing a growth of 63 per cent compared to N479.49 billion in the corresponding period of 2024.
A breakdown of the results revealed that Profit After Tax (PAT) for the nine months period grew from N60.08
billion, in the corresponding period of 2024, to N207.78 billion, representing a 246 per cent increase.
Making the announcement in a press statement, Office of Corporate Communications, Lafarge Africa Plc, said the rise in profit could be attributed to volume growth, efficiency gains, and stability of the naira.
It stated, “Cost of Sales rose from N241.73 billion in 2024 to N324.36 billion in the 9-month period under review in 2025, while administration and
selling expenses experienced a sharp rise of 48 per cent from N109.74 billion in 2024 to N162.03 billion in 2025.”
CEO of Lafarge Africa, Lolu Alade-Akinyemi, stated, “Building on the performance from previous quarters, Q3 results showcase our cost discipline, strategic market positioning, unwavering commitment to value creation, and strong operational effi- ciency – demonstrated by a +7 percent YoY improvement in capacity utilisation. We ended Q3 with Net Sales up 43 per
NECO Expands Reach, Opens UK
Examination Centre
Kuni Tyessi in Abuja
The National Examinations Council (NECO) has established a new examination centre in London, United Kingdom, as part of its efforts to expand its global presence.
NECO’s Acting Director of Information and Public Relations, Azeez Sani, disclosed in a statement that the centre is located
at Barnfield Education Ltd (BEP Education).
Unveiling the new centre, the Registrar/Chief Execu- tive of NECO, Prof. Dantani Ibrahim Wushishi, said it would create opportunities for Nigerian students and adult learners in the United Kingdom who have been unable to complete secondary education or obtain equivalent qualifications.
Speaking at the “Educa-
tion Matters Conference UK 2025”, organised by NECO to sensitise stakeholders on its presence in the United Kingdom, Wushishi stated that NECO’s objective is to provide credible and accessible examination opportunities for Nigerians residing abroad in line with the federal government’s education policy on inclusivity and global engagement.
cent, Operating Profit up 107 per cent, and PAT of N75bn.
“We closed 9 months 2025 with Net Sales and Operating Profit up 63 per cent, and 129 percent, respectively.
“Our nine months 2025 performance reaffirms our resilience, underpinned by sustained volume growth, operational excellence, innovative product offerings, and agile response to market opportunities.
Agama disclosed that less than half of the 108 initiatives under CMMP were fully achieved, blaming limited alignment with national de- velopment plans, inadequate tracking metrics, and weak stakeholder ownership for the shortfall.
Despite progress in areas, such as Green Bonds, Sukuk, fintech integration, and non-interest finance, he said market liquidity remained
He said, “Nigeria’s $150 billion annual infrastructure deficit far exceeds the market’s contribution, with only N1.5 trillion approved in PPP bonds. This shows a misalignment between financial innovation and national priorities.”
The SEC director-general called for a “reimagined SEC” that would serve as both regulator and enabler of private-sector-driven growth. He added the next decade must focus on trust-building, transparency, and inclusion.
“Vision without execution is inertia - and reform without measurement is aspiration without accountability,” he declared.
The Energy Commission of Nigeria (ECN) is yet to settle a judgment debt it owed two firms - PSC Industries Limited and OGB-Tech Nigeria Limited, eight months after the Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, directed the commission to do so.
The AGF had in a letter in March this year, directed the commission to settle its indebtedness to the firm
after the Supreme Court ruled against the federal government agency.
The firms had drawn the attention of the AGF and Federal Ministry of Justice to the apex court’s judgment in a February 4, 2025 letter by the law firm of Prof. Yemi Akinseye-George, SAN & Partners, which had sought the minister’s consent to garnishee ECN’s bank accounts to satisfy the judgment debt.
The judgment debt was put at N157,035,350.00 in
addition to 10 per cent annual interest from November 5, 2018 until full liquidation of the judgment debt and accrued interest.
The judgment debt arose from the ECN’s failure to pay both firms for the contracts they executed for it, leading to a dispute which culminated in a judgment given against ECN by the Supreme Court on June 7, 2024. The ECN awarded contracts to the two firms for the execution of solar energy projects.
Alex Enumah in Abuja
Bassey Inyang in Calabar
Kayode Tokede
NATIONAL ECONOMIC COUNCIL MEETING...
As FIDs Surge, NCDMB to Train Over
10,000 Nigerians in High-Demand Oil Skills
Olusegun Samuel in Yenagoa
Spurred by the resurgence of big-ticket investments and new projects in the Nigerian oil and gas industry, Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a special Human Capital Development (HCD) Programme that would train over 10,000 young graduates and technicians in top 10 high-demand skills in the sector.
Termed NCDMB Oil and Gas Field Readiness Training Programme, the intent is to prepare and equip the next generation of Nigerians with practical skills for top careers in the oil and gas industry, and position them to take part actively in the oil and gas projects recently launched by some international and indigenous operating oil and gas companies.
Announcing the Oil and Gas Field Readiness Training Programme on Friday, NCDMB’s Executive Secretary, Engr. Felix Ogbe, confirmed that the programme will close skill gaps extracted from the review of applications for expatriate quotas by industry operators.
According to a press release signed by General Manager, Corporate Communications at NCDMB, Obinna Ezeobi, the top career paths are identified from engagements with key industry stakeholders, including Petroleum Technology Association of Nigeria (PETAN), Oil Producers Trade Section (OPTS), and Petroleum Contractors Trade
Section (PCTS).
The board also relied on its knowledge of the portfolios of major upcoming projects and considered reports of previous skill gaps studies conducted by sister agencies, like the Petroleum Technology Development Fund (PTDF).
The top-10 skills for the Field Readiness Programme are:
Sub-sea Engineers (wellheads, flowlines, umbilicals, sub-sea trees, etc.
Others include Underwater Welders; Control and Automation Engineers (including cementing, well controls, and rig operations); Helicopter Pilots; Seamen/Sailors (including vessel mechanics/electricians); Production and Maintenance
Engineers (Control Room Operators, Maintenance Crew); QA/ QC Engineers (including NDT Levels 1,2, and 3); Geoscience Engineers (including Seismic, Geophysics, Wellsite Geology, etc.) and Digitisation and Digitalization (AI, ML, IoT, Big Data, Cloud Computing, Drones.
Ogbe explained that NCDMB
efforts were informed by Section 10(1b) of the Nigerian Oil and Gas Industry Content Develop- ment (NOGICD) Act, 2010, which says, “Nigerians shall be given first consideration for training and employment in the work programme for which the Nigerian Content Plan was submitted by an industry operator.
Nigeria’s Digital Economy Bleeds as Foreign Technology Vendors Stifle Growth, Says Expert
How they’re frustrating local fintechs MTN vendor, Optasia, rakes N1.4trn To float $375M IPO on JSE
Emma Okonji
Despite the new regulations and reforms of the Federal Competition and Consumer Protection Commission (FCCPC) on digital lending, designed to give Nigerian Fintechs a fair chance in a space dominated by foreign players, foreign technology vendors operating in Nigeria were still allegedly preventing local Fintechs from doing business with them, thus
stifling the Nigerian digital economy.Although FCCPC’s new regulations aim to ensure Nigerian Fintechs thrive in fair competition, protect consumers from exploitative lending practices and guarantee that Nigeria retains a share of the digital wealth generated within its economy, telecommunications companies, still preferred to use technology companies from outside of Nigeria and neglected
FG Launches Scheme to Empower Teachers with Mobile Devices, Free Data
Targets 8,000 teachers from six geopolitical zones
The federal government has launched a transformative initiative designed to empower teachers nationwide with zero-rated data access and subsidised devices for professional development and improved classroom delivery. 8,000 teachers have been drawn from the six geopolitical zones to participate in the pilot, which will run from
December 2025 to July 2026. The scheme, implemented with technical support from the UK-funded Partnership for Learning for All in Nigeria (PLANE) programme is part of government’s commitment to advancing digital learning through an Education Public-Private Partnership (ePPP) framework aligned with the National Digital Learning Policy (NDLP).
Minister of Education, Dr. Tunji Alausa, who chaired a
high-level Ministerial Roundtable that brought together key government leaders, private sector partners, and development stakeholders to launch the pilot phase of the Zero-Rated Data and Mobile Devices Initiative, said by removing data-cost barriers and promoting local innovation in device production, the government is laying the foundation for inclusive and technology-driven learning across the country.
local Fintech players that could also do the job.
Giving insight to the activities of foreign companies in Nigeria, Policy Analyst, Ayodele Adio, told THISDAY that some foreign companies had distanced themselves from local Fintechs and did not invest in them, but rather investedin other foreign Fintech companies to accomplish their business in Nigeria.
According to him, Nigerian regulators in the Fintech and telecoms space were not doing enough to protect local investment in Nigeria and enforce local content law.
“Between 2019 and 2023,
MTN reportedly earned an estimated N5.6 trillion from airtime and data lending alone. Optasia, the South African parent company of Nairatime Nigeria Limited, through Nairatime, took roughly 25 per cent of that value, amounting to billions of naira annually, extracted quietly from Nigerian consumers and from Fintech opportunities that could have gone to local innovators.
“While the enormous wealth was created in Nigeria, from Nigerian users, using Nigerian networks, not a single kobo of that value stayed in Nigeria,” Adio said, adding that Optasia exclusively powers MTN’s air-
time and data lending business (XtraTime) in Nigeria, one of the largest and most lucrative micro-lending operations on the continent,” he said.
According to a recent report from Reuters, Optasia was preparing to raise up to 6 billion rand ($375 million) through an Initial Public Offering (IPO) on the Johannesburg Stock Exchange, a development, according to industry players, that excluded Nigerians from investing in the IPO because the IPO would be sold in South Africa, even though Nigeria was one of the largest markets for Optasia.
Dettol Sounds Alarm on Hand Hygiene, Canvasses Collective Action to Save Lives
Mary Nnah
In a bid to promote good hygiene practices and prevent illnesses, Dettol, Nigeria’s leading hygiene brand, has joined forces with the federal government and key partners to commemorate Global Handwashing Day 2025. The event held recently in Abuja, brought together top government officials,
development partners, and media representatives to promote hand hygiene awareness nationwide.
Themed “Be a Hero, One Handwash at a Time,” Dettol is urging Nigerians to take ownership of their health by adopting simple yet effective handwashing practices.
Cassandra Uzo-Ogbugh, Head of External Communications and Partnerships, Reckitt
Sub-Saharan Africa, emphasized that “handwashing is not just a routine practice; it is a basic human right, a key to well-being, and one of the most effective ways to prevent illness and improve public health outcomes.”
The federal government has pledged to work with the private sector to scale up access to hygiene facilities and strengthen behavior change.
L–R: Accountant-General of the Federation, Mr. Babatunde Ogunjimi; Enugu State Governor, Mr. Peter Mbah; Lagos State Governor, Mr. Babajide Sanwo-Olu; Taraba State Governor, Dr. Agbu Kefas; and Kaduna State Governor, Senator Uba Sani, at the last National Economic Council meeting held at the Presidential Villa, Abuja
Kuni Tyessi in Abuja
Air Peace Marks Historic Abuja–Heathrow Launch, Powers Nation’s Aviation Footprint
Chinedu Eze
In a vibrant and celebratory mood at the check-in counters of Nnamdi Azikiwe
International Airport Abuja, Nigeria’s leading carrier, Air Peace Limited, officially launched its maiden direct flight from Abuja to London Heathrow Airport.
The occasion signaled a major advance for both the airline and the Nigerian aviation industry at large.
The check-in area was transformed into an environment of branded décor and enthusiastic passengers, where travellers received special souvenirs and
76 per cent of total collections, reflecting diversification and reform success.
Giving a breakdown of key tax performance, Adedeji said oil tax revenue stood at N5.29 trillion, representing 98 per cent of target, while non-oil taxes stood at N17.3 trillion, representing 128 per cent of the target for the nine-month period and 76 per cent of total collection.
celebratory treats as part of the carrier’s inaugural flight into Heathrow.
In attendance were the airline’s management team, including the carrier’s Chairman, Dr Allen Onyema, Vice Chairman, Mrs Alice Onyema, and Board of Directors including Emeka Ngige, Mrs Ekaette Monsuru, Benedict Adeyileka and Chairman, United Nigeria Airlines, Professor, Obiora Okonkwo
Presence of high-powered government officials under- scored the significance of this milestone. They were led by the Minister for Aviation and Aerospace Development,
Festus Keyamo, who high- lighted the intensive diplo- matic efforts that secured the Heathrow slot, reaffirming the Government’s support for indigenous carriers under the bilateral air services agreement.
He noted that, “The connecting capital of the whole of Europe” now lies within reach of Nigerian travellers, reflecting Nigeria’s firm stance on reciprocity and fair access.
Representing the Vice President of the Federal Republic of Nigeria, the Deputy Chief of Staff, Ibrahim Hassan Hadejia, extended congratulations to
Air Peace on behalf of the Government and Nigerians. He welcomed the increased competition, improved service and more accessible pricing to the UK market, just as he lauded the airline’s patriotism and the president’s enabling policies for aviation.
In his remarks delivered on behalf of the 10th National Assembly, Deputy Speaker of the House of Representatives, Benjamin Kalu, said the milestone embodied the philosophy that when government clears the runway, the private sector takes flight.
He saluted Onyema as a
role model for entrepreneur- ship, integrity and service, noting that this route opens doors for many young Nigerians to dream bigger.
Onyema thanked President Tinubu, the Minister and all stakeholders for their trust and support in enabling a major indigenous operator to claim a global gateway.
He emphasised that the achievement was grounded in local investment, private- sector capacity and a commitment to raising Nigeria’s footprint on the global aviation map.
He noted that Heathrow’s connectivity — beyond Lon- don to the Americas, Europe
Dr Allen Onyema
and the Caribbean — would now be accessible through the airline, adding that the government must support, not stifle, indigenous aviation enterprise.
Adedeji further assured of fair implementation of the new tax laws, vowing that the service will meet and surpass government revenue target, continually pursue the digitalisation of tax processes, training and retraining of of- ficers, as well as partnership with all stakeholders.
He said FIRS’ proposed transformation to the Nigeria Revenue Service (NRS), ef-
Non-import VAT accounted for 137 per cent of target while import VAT accounted 131 per cent of target.
State, Sule Lamido, has joined the race for the office of National Chairman of Peoples Democratic Party (PDP), and he is expected to pick his nomination form today.
Lamido told THISDAY that he would pick the national chairmanship nomination form Monday at the PDP national secretariat in Abuja.
By implication, the consensus nomination of former Minister of Special Duties, Kabiru Tanimu Turaki, might have failed.
It was also expected that former governor of Benue State, Samuel Ortom, would pick his nomination form within the week
Elombi, announced that the bank was considering another $5 billion expansion credit to the refinery.
Dangote, who welcomed the proposed fresh capital injection reportedly committed by Afreximbank, said the expansion of the refinery will guarantee energy security in theWhileregion.Afreximbank believes the expansion will reduce by half petroleum prices in West Africa.
The development was also expected to resolve some of the macroeconomic challenges currently facing member countries.
The announcement came just as the refinery signed an agreement with its technology licensor to begin an expansion project that would raise the
It was learnt at the weekend that PDP chapters in the North-west had rejected the nomination of Turaki.
Kebbi State chapter of PDP, for instance, rejected the endorsement of Turaki as the northern consensus candidate.
The PDP national organising secretary, Umar Bature, told news men last week that the nomination of Turaki was an imposition without any consultation.
The rejection followed an emergency meeting of the state chapter held on Saturday in Birnin Kebbi.
In a statement issued after the meeting, State Publicity Secretary, Sani Dododo, said
plant’s production capacity from the current 650,000 barrels per day to 1.4 million bpd within the next three years. Dangote disclosed this yesterday in Lagos during a press conference, immediately after his meeting with the technology partners from abroad.
The latest move will make the Nigerian oil refiner the world’s biggest refinery, displacing Reliance Refinery in Jamnagar, India, which has 1.36 million bpd capacity.
Dangote said the decision demonstrated strong confidence in Nigeria’s economic future and Africa’s capacity for industrial transformation.
He stated, “The key announcement today is that we are expanding the Dangote Refinery. We are announcing
fective January 1, 2026, will expand the agency’s mandate to include non-tax revenue collection from Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
Adedeji stated that building on the foundations laid during his first year in office, the service had continued to strengthen the country’s tax administration through strategic reforms, technological innovation, and enhanced operational efficiency.
the decision by northern PDP governors to adopt Turaki was taken without consulting the Kebbi State chapter.
The statement said, “Kabiru Tanimu has never reached out to the Kebbi State chapter regarding his ambition. He has also not participated in any recent party activities within the state.
“Accordingly, the Kebbi State chapter outrightly rejects the purported adoption of the former minister as the consensus candidate.”
The northern PDP leaders had earlier endorsed Turaki as the consensus candidate for the forthcoming national elective convention scheduled
it officially. We are expanding the Dangote refinery from 650,000 barrels per day to 1.4 million barrels per day.
“Actually, we are even a bit late because we had to sign the agreement with the technology licensor, which we are actually expanding in this moment. We have been doing that since 8 o’clock. So, upon completion of this, this will make it the largest refinery in the world ever.”
Dangote added that the project aligned with President Bola Tinubu’s vision to make Nigeria one of the major exporters of refined petroleum products in Africa and beyond.
“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our
He said during the period, the service not only met its revenue targets but also advanced several landmark initiatives that were reshaping the fiscal landscape.
Key milestones included meeting and sustaining revenue collection targets through improved efficiency and compliance measures, and passage of key tax reform acts designed to modernise Nigeria’s tax framework and promote transparency.
to hold on November 15 and 16 in Ibadan.
The endorsement was reached at a meeting in Abuja attended by PDP governors, former Senate President Bukola Saraki, Acting National Chairman Umar Damagum, and other northern stakeholders.
Meanwhile, PDP lawmakers from the South-east in the National Assembly threatened to boycott the party’s national convention if the position of woman leader, originally zoned to Imo State, was hijacked by Governor Seyi Makinde of Oyo State for South-south.
Checks revealed that the position was initially zoned
Continued on page 44
continent and the world,” he said.
Responding to questions from journalists, Dangote confirmed that the expansion was scheduled for completion within three years, stating that much of the groundwork had already been prepared during the initial refinery construction.
He said, “Timeline, we are looking at three years. This time, it will take us much less time than before because we already have the infrastructure, the port, the SPM (Single Point Mooring facility), the land.
“We don’t have to raise the land or dredge again.”
Although he declined to disclose the exact investment figures for the new expansion, Dangote assured that the project had been costed internally.
Under his watch, Adedeji said the service drove the implementation of National Single Window Project to simplify and harmonise trade and tax processes, as well as the launch of the e-invoicing system to enhance accuracy, accountability, and digital integration in tax collection.
He said the tax policy consisted of a tripod – basically the development of sound and inclusive tax policies that support national growth and fiscal stability; promoting fairness, broadening the tax base, and aligning policy direction with the country’s long-term economic objectives.
The FIRS chairman further clarified that recent tax reforms through the enactment of new laws aimed to promote fairness and equity, competitiveness, simplification, and efficiency of the tax system.
He said modernisation of tax administration was being implemented through technology, process improvement (restructuring of internal operations to a one-stop-shop), and staff capacity development.
Adedeji explained, “A major highlight of 2025 was the successful passage of several key tax reform laws, part of the
The original 650,000 bpd refinery reportedly cost around $20 billion.
“We have our own costing, and we know what it will cost us,” he said.
Dangote explained that the new development would replicate an additional processing line within the existing complex, allowing for continuous produc- tion even during maintenance shutdowns.
“By replicating another line, it has given us a guarantee. Even if you are going to shut down for 40 days, it means that at least 50 percent of the refinery will still work,” he explained.
Asked about feedstock availability, Dangote acknowledged that securing crude oil had previously posed challenges but expressed optimism that
government’s broader fiscal modernization agenda. These new laws aim to simplify tax compliance, close administrative gaps, and align Nigeria’s tax system with international best practices.
“Also, a key reform is the transformation of FIRS to the Nigeria Revenue Service (NRS), effective January 1, 2026. This expands the agency’s mandate to include non-tax revenue collection from Nigeria Upstream Petroleum Regulatory Commission (NUPRC).” Adedeji said, “Building on progress made in 2024, the National Single Window Project advanced significantly in 2025. The digital platform, designed to connect ports, government agencies, and trade stakeholders, is streamlining import and export processes, reducing clearance times, and improving transparency.
“This initiative continues to strengthen Nigeria’s global trade competitiveness and supports the government’s broader agenda to enhance efficiency and ease of doing business.
“In August 2025, FIRS launched the full implementation of the National e-Invoicing
Continued on page 42
new government policies would ensure a consistent domestic supply.
He said, “At 650,000 barrels a day, you struggle to get feedstock.” He added, “But the President now has a clear policy. I’m sure the government will not sit back and allow our crude to go abroad while refineries here are idle.”
He likened the situation to Ghana’s cocoa processing industry, stressing that it would be counterproductive for Nigeria to export crude while importing refined products.
Dangote said, “It’s like Ghana saying they want to process all their cocoa, and someone saying they will still export the raw beans.”
He said, “I’m sure things will
Continued on page 44
L A
ID o Jo I n S PDP nATI on AL C HAI
I n ATI on Form To DAY
90TH BIRTHDAY RECEPTION OF SIR ADEBUTU...
L-R: Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; the celebrant, Sir Kessington Adebutu; his wife, Kofoworola; and Governor of Lagos State, Mr.
Sanwo-Olu, during the 90th birthday reception of Sir Adebutu at the Eko Convention Centre, Lagos… recently
Alake: Why Nigeria is Best for Global Mineral Investment
Folalumi Alaran in Abuja Solid Minerals Development Minister, Dr. Dele Alake, has charged investors to increase their investment stakes in Nigeria’s solid minerals sector, following positive reforms that promise higher returns.
Speaking on the theme “Connect and Collaborate, Co-Build and Co-Share” at
this year’s China Mining Conference in Tianjin, Alake impressed his hosts with security reforms, including the Mining Marshals and the satellite mines monitoring project, which were introduced to protect licensed miners and curtail illegal mining.
A statement signed by Special Assistant on Media to the Minister of Solid Minerals
Development, Segun Tomori, said he cited upgrades in tech- nology to ease doing business and processing applications, such as the Electronic Mining Cadastre, EMC+, the Nigerian Mineral Resources Decision System, NMRDS, the Centre of Excellence, and the websites of the ministry and agencies, as unique utilities to improve remote transactions globally
in Nigeria’s mining sector.
Reviewing the Chinese mining business, Alake ac- knowledged that investments in lithium processing alone grossed $1.3 billion since September 2023, adding that MOUs signed by President Bola Tinubu during the state visit in September 2024 have led to substantial investment commitments.
NAFDAC Moves to Eliminate Industriallyproduced Trans Fats Linked to Heart Disease
The National Agency for Food and Drug Administration and Control NAFDAC said it has launched a Strategy and Roadmap for Trans-Fatty Acid (TFA) regulation in Nigeria.
A statement signed by NAFDAC’s Resident Media Consultant, Sayo Akintola, said the move is part of the new commitment to safeguarding public health by eliminating a dangerous dietary risk linked to heart disease, stroke, and premature death.
The statement quoted the Director-General of NAFDAC, Prof. Mojisola Adeyeye, as having said that Nigeria is already taking steps to regulate fatty acid consumption by setting regulatory limits of no more than two grams of industrially produced trans-fat per 100 grams of total fat or oil.
“In recognition of this effort, Nigeria was named by WHO in 2023 as one of seven countries that had adopted best-practice TFA elimination policies, she said.
The newly launched roadmap outlined a phased approach focused on industry reformulation, laboratory strengthening, compliance monitoring, public education, and cross-sector collaboration.
With support from partners such as Resolve to Save Lives, WHO, and other stakeholders, NAFDAC has also expanded its laboratory capacity to analyse TFAs, marking significant prog- ress toward full implementation.
Adeyeye called on gov-
ernment agencies, industry, civil society, and consumers to work together to achieve WHO validation of Nigeria’s programme. “Eliminating industrially produced trans fats is possible, achievable, and urgent.
With this roadmap, Nigeria is determined to protect the health of its citizens and secure a food supply free from the dangers of trans-fatty acids,” she affirmed.
His words: “Since Sep- tember 2023, when this administration assumed office, Chinese companies such as Canmax Technology, Jiuling Lithium, Avatar New Energy Nigeria Company, and Asba have invested over $1.3 billion in lithium processing.
“The investments have boosted Nigeria’s economic diversification efforts, reduced its dependency on oil and attracted infrastructure, technology transfer, and expertise. Joint Ventures between Chinese and Nigerian companies in the mining sector often enhance local capabilities and skills among Nigerian workers andAlakeengineers.” who is currently the chairman of the Africa Minerals Strategy Group (AMSG), reaffirmed Nigeria’s commitment to strengthen- ing continental cooperation in mineral exploration and reporting standards, stating that Africa must build shared systems of knowledge and governance if it is to fully
benefit from its vast mineral endowments. He reaffirmed plans to strengthen the regional Centres of Excellence in Geosciences and Mining Skills, and to expand the role of the Solid Minerals Development Fund (SMDF) and the SMDF AFC Facility in supporting early stage exploration and de risking investments.
“We warmly invite inves- tors, development partners, and technical institutions to explore Nigeria’s vast opportunities in minerals such as lithium, gold, lead- zinc, barite, and rare earth elements.
“Our government offers a conducive investment climate, improved security of tenure, and incentives that guarantee mutual benefit.
“Nigeria’s vision is not only to extract minerals but to build a globally competitive value chain that supports clean energy transition, job creation, and industrial growth, all within the framework of responsible mining”, he said.
FCTA Targets Vaccination of All Eligible Children Against Measles, Rubella Nigeria to
Host
Olawale Ajimotokan in Abuja
The federal government has accepted to host the maiden meeting of the African bloc of the National Committees of the International Press Institute (IPI). The Minister of Information and National Orientation, Mohammed Idris, made the commitment yesterday after he met the Chairman of the IPI Executive Board, Mr. Marton Gergely, the IPI Executive Director, Mr. Scott Griffen, and IPI Executive Board Member representing Nigeria and Africa, Mr.
Maiden IPI Africa Meeting
Raheem Adedoyin in Vienna, Austria.
“Nigeria agrees to host the maiden meeting of the African bloc. It is a great honour for us to lead as we always do.”
Idris said in a statement by the ministry of information.
The IPI Board had, on Thursday, approved the creation of regional blocs of National Committees as a means of dealing with specific regional interests within the global IPI community.
Idris stressed the readiness of country for another world-class hosting after it successfully hosted the IPI
World Congress and General Assembly in Abuja in 2018.
While no date has been fixed for the meeting, Mr. Griffen disclosed that the IPI Secretariat in Vienna will work out the details with Mr. Adedoyin and the IPI Nigeria National Committee.
He also applauded the Nigeria National Committee for its robust press freedom engagements.
His views were reinforced by the Chairman of the IPI Executive Board, Mr. Gergely, who described Nigeria as a leading light in democratic governance with a free press.
Onyebuchi Ezigbo in Abuja
The Federal Capital Territory Administration has expressed determination to ensure that all children in the Capital Territory received vaccine meant to prevent measles and rubella disease.
The administration deplored the refusal of some private schools within the capital city to allow health officials to administer measles and rubella vaccines on their pupils.
The concern by the FCT administration came just as the National Primary
Healthcare Development Agency (NPHCDA) said that federal government is targeting to vaccinate 106 million children nationwide under the ongoing immunization against measles and rubella diseases.
Speaking on the progress being made in the ongoing vaccination campaign in the FCT, the Mandate Secretary on Health Services and Environment, Dr. Dolapo Fasawe said that immunization team has carried vaccination in many areas of the city.
As part of efforts to ensure that every child within the age
range is vaccinated against the targeted diseases, Fasawe said that her office will embark on series of advocacy missions to schools, religious centres and traditional leaders in the FCT. She said FCTA has also added an innovation to enhance vaccination uptake through linkage with Health Insurance.
She appealed to all parents to ensure their children are allowed to be vaccinated in line with the Child Health Act at school, stating that. “im- munization is safe, effective, and essential for protecting every child”.
Onyebuchi Ezigbo in Abuja
Babajide
PUBLIC PRESENTATION OF MEGASTAR LIFE AND STYLE MAGAZINE...
L-R: Group Chairman, Transoceanic Energy, Alhaji Amin Ilyas; Chairman, Senate Committee on Ethics, Code of Conduct and Public Petitions, Senator Neda Imasuan; Director General, Strategy and Communication, Government House, Nasarawa State, Mallam Yakubu Lamai; Brig-Gen Muyiwa Okunowo (rtd.); and Publisher, Megastar Life and Style Magazine, Dr. Ifetayo Adeniyi, during the public presentation of Megastar Life and Style Magazine and the Megastar Man of the Decade Award 2025 in Abuja, last Friday
OPSN Seeks Tinubu, Akpabio’s Intervention to Avert Politicisation of
NSITF’s Management Board
Dike Onwuamaeze
The Organised Private Sector of Nigeria (OPSN), has called on President Bola Ahmed Tinubu and the Senate President, Senator Godswill Akpabio, to intervene and stop the charade by the Senate Committee on Labour and Employment to populate the management board of Nigerian Social Insurance Trust Fund (NSITF) with political appointees through the proposed amendment of NSITF’s Act.
It also urged Tinubu and Akpabio to prevail on the National Assembly to focus on completing and passing the Nigeria Labour Law, which is a far more pressing and productive legislative priority.
It added that the NSITF, which stands as a cornerstone of Nigeria’s social protection system, must not be politicised or weakened and that it’s governance must remain firmly rooted in tripartism, transparency, and account- ability as enshrined in ILO
Conventions and international best practices.
The OPSN is comprised of the Manufacturers Association of Nigeria (MAN), the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Associa- tion of Small and Medium Enterprises (NASME), the Nigeria Association of SmallScale Industrialists (NASSI) and other 25 Employers Federations.
The OPSN made the call yesterday in a press release where it expressed grave concern over the proposed amendment of the NSITF Act, which is being championed by the Senate Committee on Labour and Employment, chaired by Senator Diket Plang.
It said: “We respectfully call on His Excellency, President Bola Ahmed Tinubu and the President of the Senate, Senator Godswill Akpabio, to intervene and stop the charade
by the Senate Committee on Labour and Employment, while directing them to focus on completing and passing the Nigeria Labour Law, a far more pressing and productive legislative priority.
“The NSITF, as a cornerstone of Nigeria’s social protection system, must not be politicised or weakened.
Via Legislative Amendment
Its governance must remain firmly rooted in tripartism, transparency, and accountability as enshrined in ILO Conventions and international best practices.”
In a letter written to the Senate President and signed by the five directors general, the OPSN strongly objected to the proposed changes, which
have already passed a second reading in the Senate.
It said: “These amendments threaten to fundamentally weaken the NSITF governance structure, erode accountability and transparency, and expose the fund to undue political interference.
“The NSITF was founded on a tripartite structure,
representing government, employers, and labour, in strict alignment with International Labour Organisation (ILO) Convention 102 on Social Security (Minimum Standards), Convention 144 on Tripartite Consultation, and Convention 87 on Freedom of Association and Protection of the Right to Organise.
Health Commissioner Reveals Over 233,000
Rivers Youths Suffer from Drug Abuse
As stakeholders unite to tackle menace
Blessing Ibunge in Port Harcourt
Rivers State Commissioner for Health, Dr Adaeze Oreh, has revealed that over 233,000 young people are involved in drug abuse in the state.
Citing a 2019 drug abuse report published by the United Nations, Dr. Oreh said out of 10 drug abusers in the state and the South-South at large, four
SERAP Demands NNPCL Accounts for Oil Revenue, Threatens Legal Action
Chuks Okocha
The Socio-Economic Rights and Accountability Project has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, to pro- vide a detailed account of oil revenues reportedly flagged by the Auditor-General of the Federation in the 2022 annual report. The report, published on September 9, 2025, raised questions over the manage- ment of multi-billion-naira
transactions, including over N22 billion, $49 million, £14 million, and €5 million in oil-related revenue, handled by the national oil company.
In a letter dated October 25, 2025, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation called on Ojulari to ensure transparency by identifying those responsible for any unaccounted funds and forwarding the findings to the appropriate anti-corruption agencies.
“These findings raise seri-
ous concerns about transparency and accountability in the management of public resources,” SERAP said.
The group urged the NNPCL to recover any unremitted or misapplied funds and return them to the national treasury, stressing that proper management of oil revenues was crucial for national development.
“The allegations, if not promptly and transparently addressed, could undermine public confidence and economic stability,” SERAP stated.
were women, with 16.6% of youths in the region involved in the ills.
The Rivers Health Commissioner spoke at the Regional Level Multi-Stakeholders’ Dialogue on Drug Abuse Prevention in the Niger Delta, organised by Search for Common Grounds, in Port Harcourt, at the weekend.
Represented by Quanta Roland, Dr. Oreh said: “According to the United Nations statistics from 2019, the prevalence of various substances used in the South- South geo-political zone between people aged 15 to
64 is increasingly becoming worrisome, with over 16.6% engaged in drug and substance use and alcohol, marijuana and heroin particularly ranking highest, 35.1% for alcohol, 15.7% for marijuana and 15.3% for heroin”.
She said: “These statistics from the office of the United Nations on Drug and Crime, the prevalence in Akwa Ibom State was reported to be 12.5% with approximately 352,000 individuals affected. In Bayelsa State, the research reported that the prevalence of drug and substance abuse was 11.2%,
affecting approximately 220,000 individuals.
“In Delta State, the prevalence was 18%, affecting a population of 513,000 persons. In Edo State, we had a prevalence of 15% impacting 330,000 individuals while in Rivers State, the prevalence was 11.8% affecting 233,000 persons.”
Warning that the rate of drug abuse prevalence had remained on the increase to date, Dr. Oreh called for concerted effort by state governments and stakeholders in the region to combat the menace.
CPPE: Nigeria First Policy Will Centralise Domestic Economic Interests of National Devt Strategy
Dike Onwuamaeze
The Centre for the Promotion of Private Enterprise (CPPE) has described the Nigeria First Policy as a bold strategic initiative designed to place domestic economic interests at the centre of national development strategy.
This was stated yesterday
by the Chief Executive Officer of CPPE, Dr. Muda Yusuf, in a policy brief titled “The Nigeria First Policy.”
Yusuf said: “The core objective is to prioritise Nigerian goods, services, human capital, and enterprises in both public and private procurement and investment decisions.”
He also said that the
policy is anchored on three fundamental pillars, which are local content develop- ment, value addition and industrial linkages, and strategic economic inclusion. He said: “Nigeria has experienced similar policy interventions in the past, including executive orders promoting local procurement and domestic participation.
in Abuja
CONFERMENT OF
DISTINGUISHED
FELLOWSHIP DOCTORATE ON ALEXANDER OKAFOR...
L-R: Country Director, Institute of Strategic Business Management and Public Administration (ISBMPA) Ghana, Dr. Ani Freeman; Managing Director/CEO, Deroox Medical Equipment Limited, Port Harcourt, Dr. Alexander Onyeisi Okafor; and Executive Director, ISBMPA Ghana, Prof. Godwin Ezarafe, during the conferment of the Distinguished Fellowship Doctorate on Dr. Alexander Okafor by the Institute in Port Harcourt, Rivers State… recently
Fani-Kayode: God Sent Sani to Restore Peace, Unity in Kaduna
Former aviation minister, Chief Femi Fani-Kayode, has described the Kaduna State governor, Senator Uba Sani, as “God-sent” to restore peace,
unity, and justice in the state.
Speaking at the 35th An- niversary Synod of the Diocese of Kafanchan, Church of Nige- ria (Anglican Communion), on Saturday, Fani-Kayode said the governor’s emergence was a
divine intervention after years of carnage and discrimination against Christians in the state.
He recalled that there was a time when all security chiefs in the country were northern Muslims, and Christians, par-
ticularly in Kaduna, suffered marginalisation.
Fani-Kayode said with Sani’s leadership, “The situation has started to change for the better in Kaduna State.”
He added, “What he is
doing should serve as an example to the rest of the country.
“The governor that you have today came as a consequence of prayer. I have known him for many years. He is one of
Odinkalu to Tinubu: Relieve Nyesom Wike of Duties, Restore Credibility in Governance
Human rights lawyer and public affairs analyst, Profes- sor Chidi Anselm Odinkalu, has called on President Bola Tinubu to relieve the Minister of the Federal Capital Territory (FCT), Nyesom Wike, of his duties, citing governance lapses and accountability concerns.
In a statement, yesterday, Odinkalu said his call stemmed from what he described as
Solution (Merchant-Buyer Model) following a successful pilot phase. The system enhances transparency, efficiency, and real-time monitoring of business transactions.”
He stressed that the *829# USSD Code initiative, which was launched on October 9, 2024, will allow taxpayers to access services including retrieving their Taxpayer Identification Number (TIN), verifying TCCs, viewing tax types and rates, locating tax offices and making general enquiries directly from their mobile phones.
On collaborations with other agencies and taxpayer education and awareness, Adedeji stated that FIRS will host a
a persistent pattern of poor governance and disregard for accountability in the management of the nation’s capital.
“As Minister for the FCT, Mr. Wike currently presides over a 21st-century city overwhelmed by the stench of human faeces occasioned by the collapse of the sewage system. Yet, I distract him,” Odinkalu stated.
He said his intervention was part of his public advocacy
tax clinic across the country to improve tax education and compliance among small businesses, start-ups, and informal sector operators, offering direct assistance with tax filing and dispute resolution.
Commenting on international tax cooperation, he said FIRS advanced Nigeria’s global tax leadership by concluding five mutual agreement processes with Belgium, France, and Netherlands, as well as partnership with the Swedish Revenue Agency to facilitate α training programme on tax administration to increase voluntary compliance.
He said the service concluded treaty negotiations with Hong Kong, Botswana, Tanzania,
for transparent and ethical governance, stressing that citizens deserve leadership that upholds integrity and the rule of law.
Odinkalu also referenced an ongoing correspondence with the UN Special Rapporteur on the Independence of Judges and Lawyers, which, according to him, concerned broader questions about the integrity of Nigeria’s justice system.
Rwanda and Switzerland, including renegotiation of legacy tax treaties starting with the Netherlands, and commenced treaty negotiations with Saudi Arabia, Kuwait, Qatar, Morocco, India and Jersey.
Adedeji said, “FIRS has in 2025, continued its transformation into a modern, technology- driven, and service-oriented institution, and has achieved major legislative, operational, and technological milestones that position it for sustained growth and greater efficiency.
“FIRS remains committed to simplifying tax, maximizing revenue, and enabling national development through transparency, innovation, and stakeholder collaboration.”
The former Chairman of Nigeria’s National Human Rights Commission further alleged that Wike has made repeated attempts to intimidate him and influence legal institu- tions to silence his criticism, including efforts to use the Body of Benchers against him.
“In the past year, Mr. Wike has sought to bully or use the BoB to persecute me or squelch my work on his undisguised role in judicial corruption. He failed. That is
now under examination by the UN Special Rapporteur on Independence of Judges and Lawyers, Margaret Sat- terthwaite,” he stated.
He urged the president to take decisive steps to strengthen confidence in the administration’s commitment to “Ifaccountability. he chooses not to, the president should, as an act of leadership, take steps to relieve him of his duties,” he added.
my closest friends. He is not an ordinary Fani-Kayodeperson.” said, “There was a time in this very ground you had a governor who despised Christians. I use the word ‘despised’ advisedly and with a capital ‘D’. He treated Christians with contempt and disdain.”
The former minister recalled the Christmas Day massacre of December 25, 2016, when 800 people were killed in four local government areas of Southern Kaduna, saying he wrote and spoke extensively about the tragedy.
He lamented that hospitals were closed and victims abandoned by the government, adding, “Nobody listened to you from Government House so that you will suffer all the more. And that kept on happening, community afterHecommunity.” said the persecution of Christians became a rallying point for believers across the country.
NDLEA Uncovers UK-bound Cocaine in Cream Containers, Meth in Water Heater
Michael Olugbode in Abuja
A total of 70 parcels of factory-packed cocaine in walls of cocoa butter formula body cream containers heading to London, United Kingdom have been uncovered at the export shed of the Murtala Muhammed International Airport Lagos by operatives of the National Drug Law Enforcement Agency (NDLEA) with three suspects arrested in series of follow-up operations across Lagos.
A statement by the spokes- man of the anti-narcotics agency, Femi Babafemi on Sunday stated that the cocaine consignments weighing 3.6 kilogrammes were discovered on 14th October 2025 during examination of cargoes packaged as personal effects going to London, UK on an Air Peace flight.
It added that a cargo agent Lawal Olakunle who presented the consignment for airfreight was promptly arrested while investigations stretching into two weeks
led to the arrest of two principal suspects linked to the attempt to export the concealed Class A drug to the UK. Babafemi said in a follow up operation on 18th October, a female healthcare worker Ogunmuyide Taiwo was arrested following which Mutiu Adebiyi, the Chief Executive Officer of a travel agency, Mutiu Adebiyi & Co, was arrested at his 23 Ladoke Akintola Street, Ikeja GRA Lagos office last Monday.
Wale Igbintade
John Shiklam in Kaduna
PANEL DISCUSSION ON ‘CAPITAL & COLLABORATION: LESSONS FOR SUCCEEDING IN NIGERIA’...
Frederik Klinke; Executive Director/Chief Financial Officer, Development Bank of Nigeria, Ijeoma Ozulumba; Regional Director, West Africa, Norfund, Naana Winful Fynn; and Chief Executive Officer, Empower New Energy, Terje Osmundsen, during a panel discussion titled “Capital & Collaboration: Lessons for Succeeding in Nigeria” at the Nordic Nigeria Connect 2025 held in Lagos… recently
Atiku: Tinubu’s Government Steadily Descending into Full-blown Dictatorship
Says President seeking to silence voices of dissent Bemoans ‘obnoxious’ cyberstalking Act
Emmanuel Addeh in Abuja
Former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general elections, Atiku Abubakar, yesterday took a swipe at the Bola Tinubu administration, alleging that the government was taking a steady descent into full-blown dictatorship.
Accusing the President of attempting to silence dissent- ing voices, the politician cum businessman described as disturbing the ‘growing pattern’ of the current government to muzzle free speech and erode the integrity of democratic ethos.
Specifically, Atiku, in the piece titled: “ A Nation Gripped in the Throes of Fear”, cited the ‘obnoxious’ Cyberstalking Act, under which he pointed out several Nigerians have been thrown into jail.
Besides, the former Nigerian number two man, stated that rather than listen to the growing cries of the people, the govern- ment has chosen the path of ‘brute force and intimidation’ — treating dissent as treason and turning peaceful protesters into“Thereprisoners. is a disturbing yet
growing pattern by which the administration of President Bola Ahmed Tinubu continues to muzzle free speech and, in so doing, erode the integrity of the democratic ethos that define our nation.
“It is a development that should trouble every Nigerian, for if this creeping culture of repression continues unchecked, it will ultimately turn the federal government into a bully — and make subjects of free citizens.
“The roll call of Nigerians currently on trial or languish- ing in detention facilities across the country is far too long to recount. For months now, both local and international human rights organisations have drawn attention to the steady descent of the Tinubu administration into the shadows of dictatorship.
“Under the obnoxious Cyber- stalking Act, this government has metamorphosed into a leviathan — one that thrives on fear and seeks to silence the very voices that sustain democracy. This is an aberration, an affront to freedom, and it must be roundly rejected,” the former vice president stated.
According to him, the so-called cyberstalking act is a chilling re- minder of the infamous sedition
laws that many civilised nations have long discarded, insisting that in the 21st century, it is unthinkable that the Government of Nigeria or any government, for that matter, should seek to control free speech, that sacred pillar of liberty and the lifeblood of democracy.
Atiku maintained that any law that impedes, suppresses, or limits the right of citizens to make critical remarks about their leaders, whether on digital highways, in print, or through spoken word is undemocratic and a direct assault on the spirit of fundamental human rights.
In the two and a half years
since the Tinubu administration began ‘unleashing its cocktail’ of economic hardship, hunger, and despair on the Nigerian people, Atiku stated that the country has witnessed protests and outcries from citizens who can no longer bear the weight of bad governance.
Yet, rather than listen, Atiku alleged that the government has chosen the path of brute force and intimidation , treating dissent as treason and turning peaceful protesters into prisoners.
“It is tragic, indeed, that such violations of constitutionally guaranteed rights are occurring at a time when our democracy
ought to be maturing. We must remind the Tinubu regime that no government, no matter how powerful, is greater than the people. To attempt otherwise is impolitic, preposterous, and destined to fail.
“While it is true that the government bears the re- sponsibility to maintain law and order, no responsible administration fires live canisters at peaceful protesters or hides behind ambiguous laws to arrest and re-arrest citizens who have been granted bail by competent courts.
“The Tinubu government’s disregard for the rule of law and
persistent disobedience of court orders have become its most infamous credentials. Human rights groups, both at home and abroad, have repeatedly raised the alarm, yet the pattern persists.“From journalists jailed for speaking truth to power, to citizens arrested during the #EndBadGovernance protests, Nigerians continue to suffer persecution simply for daring to think, to speak, or to protest. If truth be told, this regime may have surpassed all its predeces- sors in the reckless use of state power to crush public opinion,” the veteran politician said.
Kogi Gov, Ododo, Promises Fair, Credible Process at Ekiti APC Governorship Primary
Oyebanji, CSOs commend peaceful conduct Gov says his govt’s urban renewal policy transforming Ado-Ekiti into modern capital city
Ibrahim Oyewale in Lokoja and Gbenga Sodeinde in Ado Ekiti
Kogi State Governor, Usman Ododo, has assured all aspirants in the All Progressives Congress (APC) governorship primary
election for Ekiti State, of a fair, transparent and credible process.
This was contained in a statement by his Special Adviser on Media, Ismalia Isah, in Lokoja, yesterday.
The governor, promised
National Assembly Considers Six New States
Sunday Aborisade in Abuja
The Joint Committee of the Senate and House of Repre- sentatives on Constitution Review, has approved the creation of six additional states across Nigeria’s six geo-political zones.
The decision, which was one of the major resolutions reached at the end of the committee’s two-day retreat held in Lagos, was co-chaired
by the Deputy President of the Senate, Senator Barau Jibrin, and the Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu.
According to the committee, one new state will be created in each of the six zones compris- ing North West, North East, North Central, South West, South South, and South East.
If the proposal scales through the full legislative process. This would increase
the number of states in the federation from 36 to 42.
During the retreat, the joint committee considered 69 bills, including 55 requests for state creation, two for boundary adjustments, and 278 proposals for new local governments.
After extensive deliberation, members unanimously endorsed the creation of six additional states to promote fairness and equity among the geo-political zones.
A ranking senator, who is a member of the committee from the North West geopolitical zone, disclosed to THISDAY in Abuja, yesterday, on condition of anonymity, that the decision was backed by lawmakers from both chambers.
He stressed that the move was meant to balance representation and address long-standing agitations for inclusion in the federation structure.
to be fair to all stakeholders and ensure that the exercise reflects unity, peace, and internal democracy within the party.
Ododo emphasised that his commitment was to oversee a process that would be acceptable to all stakeholders and party members, noting that the committee under his leadership would uphold the integrity and democratic values of the APC.
He assured the people that every stakeholder would be carried along in line with the guidelines of the party to produce a standard flag bearer for the election.
The governor, who chaired the APC Governorship Primary Election Committee in Ondo State in April 2024, expressed confidence that the Ekiti exercise would be peaceful and transpar-
ent in line with procedures for internal party democracy.
Meanwhile, the Ekiti State Governor, Mr. Biodun Oyebanji, and a coalition of civil society organisations (CSOs), have com- mended members of the APC for their peaceful conduct during the party’s delegate congress ahead of governorship primary. Oyebanji, who participated in the congress at his Ikogosi Ward 6 in Ekiti West Local Government Area on Saturday, lauded the party faithful for demonstrating maturity, discipline, and loyalty to the APC ideals.
Arriving at the venue around 11:50 a.m., the governor expressed optimism that the party would record a sweeping victory in all the 177 wards during the June 2026 governorship election.
Ladoja;
Nigeria,
No
to Lagos DemoLitioN of igbo
ProPerties...
L-R: National Secretary, Association of Igbo Town Unions(ASITU), Hon Gideon Adikwuru; National Chairman, Chief Emeka Diwe; Chairman, Ebonyi State Chapter, Chief Augustine Akpa; State Secretary, Chief Basil Kalu, at a press conference in Umuahia over the demolition of Igbo properties and assets in Lagos . . . weekend
Sanwo-Olu Celebrates Ex-Ogun State First Lady, Lucia Onabanjo, at 100
Governor Babajide Sanwo- Olu of Lagos State has congratulated Chief (Mrs.) Lucia Onabowale Onabanjo, widow of the late Chief Olabisi Onabanjo, the first civilian governor of Ogun State, on her 100th birthday celebration.
Governor Sanwo-Olu, in a statement issued on Sunday by his Special Adviser on Media and Publicity, Mr. Gboyega Akosile, joined family, friends and the people of Ogun
State and Nigerians at large in celebrating the centenary birthday of the former first lady. Sanwo-Olu, the Chairman of the South-West Governors Forum, said Mama Onabanjo’s 100 years of God’s grace and benevolence have been a life of impact, especially during her reign as the wife of the first Executive Governor of Ogun State.
He said: ‘’On behalf of my family, the government and the
people of Lagos State, I felicitate Chief (Mrs.) Lucia Onabowale Onabanjo, the widow of the first civilian governor of Ogun State, Chief Olabisi Onabanjo on her 100th birthday.
“Mama Onabanjo deserves all the accolades at 100 for her immense contribution to governance, humanity and education. She was a committed and devoted teacher for over two decades. She impacted and mentored many
ADC Inaugurates New Interim Leadership in Adamawa, Pledges Unity, Inclusiveness
Daji sani in Yola
Adamawa State chapter of African Democratic Congress (ADC) has inaugurated a new transition committee, with Hon. Sadiq Dasin as the interim state chairman.
The inauguration was marked by controversy, but the party’s national leadership maintained that the new structure was legitimate and was approved by
to the South-east, with Imo State favoured candidate and current South-east zonal woman leader, Mrs. Arodiogbu Ifeyinwa, billed to clinch it, before Governor Peter Mba of Enugu State nominated an Enugu woman, who recently followed him to All Progressives Congress (APC), thereby giving Imo PDP the chance to clinch the position.
A member of the House of Representatives, Hon. Imo Ugochinyere, in a statement, said they would issue a dis- claimer against the convention in two weeks and would not participate if South-east was humiliated by those who
the National Working Committee (NWC).
Speaking at the inauguration ceremony at Lelewa Motels in Yola, the state capital, former Secretary to the Government of the Federation (SGF), Vice Chairman (North), and Chairman of ADC in the North-east, Babachir Lawal, stated that due diligence was followed in the selection process, and the national chairman, Senator David
wanted to rubbish an entire region.
He stressed that there was still time to remedy the situation before the screening on Tuesday next week, saying no elected lawmaker from South-east would remain in PDP if the impending insult was allowed to happen.
Ugochinyere added, “The current South-east zonal woman leader, Ifeyinwa Arodi- ogbu was unanimously backed by South-east PDP chieftains to clinch the position before Governor Mbah, who is now in the ruling All Progressives Congress APC) allegedly influenced the zoning to Enugu and took the woman leader for
Mark, assured him that the party would be governed according to constitutional provisions.
Lawal warned that the party will not tolerate acts of indiscipline or defiance, urging members to uphold peace and unity.
The new interim state chairman, Dasin, described his emergence as a child of necessity, following repeated attempts to reconcile the Shehu Yohanna and Mustapha Arabi factions.
Enugu after supporting Gov. Makinde to take the National Secretary that belonged to South-east and Imo state to South-west.
“We don’t want to see PDP suffer more setbacks. Still, we will stick to our position on the Ibadan convention if, in the next few weeks, the position of National woman leader is not ceded expressly to Imo State and an Imo person allowed to emerge.
“Now that Governor Mbah has left for APC, that earlier arrangement of producing a woman leader is not going to stand because Gov. Mbah’s woman leader nominee is also in APC with him.”
generations of young Nigerians in Lagos and Zaria.
“She served Ogun State pas- sionately as wife of one of the respected political leaders and performing governors of the Unity Party of Nigeria (UPN) during the Second Republic.
change, and they are already changing with Mr. President’s policy.”
Nigeria’s current crude production hovers around 1.8 million bpd, but Dangote said the government’s target of 2.4 million bpd would ensure enough supply for both local refiners and others.
Dangote added that the expansion will create over 65,000 jobs during construction and double polypropylene production from 900,000 metric tonnes to 2.4 million tonnes annually.
He said the refinery will also transition from producing Euro 5 fuels to Euro 6 standards, meeting the world’s highest environmental benchmark.
“Over 85 percent of our workforce will be Nigerian, with ongoing investment in skills and technology transfer,” Dangote said. “Our goal has never been just to refine oil, but to refine opportunities for our people,” he added.
He further revealed that the plant’s power generation capacity will increase from 500 megawatts to 1,000mw, ensuring energy reliability for operations and nearby industries.
Dangote called on other investors to participate in the federal government’s drive to expand local refining capacity, stating that competition will strengthen the sector.
He said, “Once we touch the government refineries, there is a lot of noise.”
“She was a reliable and committed partner who supported former Governor Onabanjo in ensuring that the dividends of democracy were delivered to the people of Ogun State between October 1, 1979, and December 31, 1983.
Dangote stated, “There are other people with a lot of money, maybe more cash than we have. They should go and buy or build their own refineries so that there won’t be talk about monopoly.”
When asked if he would be willing to buy off the four refineries owned by the Nigerian National Petroleum Company Limited (NNPC) and turn them around instead of building new one, Dangote declined taking such business decision.
He said he wanted to focus on his own and allow other investors to take such opportunity, saying some companies are already in talks with NNPC to revive dormant refineries under partnership models.
Dangote said, “All of us must contribute our quota to achieve a $1 trillion economy. It doesn’t come easy. We are doing our own, and I believe others should do theirs.”
As part of its long-term strategy, Dangote reconfirmed plans to list the refinery and petrochemical complex on the Nigerian Exchange (NGX) within the next year to allow Nigerians to own shares in the facility.
He said, “We want to give all Nigerians the opportunity of owning part of the refinery. This refinery should belong to allHeNigerians.” also assured that the refinery would help stabilise fuel availability and pricing across the country, especially during the festive seasons.
“For the first time in many
“As Chief (Mrs.) Lucia Onabowale Onabanjo celebrates her centenary birthday, I pray that the Almighty God will continue to bless her with good health and peace. She will witness the fruits of her labour across generations.”
years, Nigerians can look forward to a festive season free of fuel anxiety,” he said, adding, “With this refinery, we’ve had stable pricing and great quality.”
Dangote thanked the federal and Lagos State governments, the host community, and financial partners for their support, describing the expansion as “a testament to confidence in Nigeria’s leadership and potential”.
He said, “This expansion is not just about increasing capacity; it’s about confidence in our people, in the leadership of our country, and our continent,” he said, adding “Together, we’re building a stronger Nigeria and redefining what is possible for Africa.”
Highlighting the economic impact of the project, Dangote said the expansion would further strengthen Nigeria’s energy security, reduce foreign exchange outflows, and save the country billions of dollars annually that would otherwise have gone into importing refined products.
According to him, the expan- sion reflects the group’s belief in Africa’s potential to achieve energy security and transform its economy from being an exporter of raw crude to a hub for refined petroleum products.
Dangote revealed that the expansion project would be executed over the next three years and would be financed through a mix of cash flow, public listing, and strategic investors.
R AT R A ce I n T o So RRY Af RI c A n Reco RD
Nujoma; no more men such as Kenneth Kaunda who devoted everything to end colonization and Apartheid; and certainly, no more men such as Nelson Mandela, the world’s greatest conscience of the second half of the Twentieth Century. Instead, there is an ongoing race among African rulers to surpass the dynastic record of Togo’s Gnassingbe Eyadema, the Army Sergeant who seized power in a bloody coup in 1967, ruled his country for 38 years and whose son, Faure Gnassingbe, has been ruling it for 20 years now. Some African rulers of today aspire to exceed the personal violence of Ethiopia’s Mengistu Haile Mariam. Not only did his colleagues and himself line up 60 top officials of Emperor Haile Selassie’s government in 1974 and executed them in one night, but Mengistu was said to be so temperamental that he once drew a revolver and fired at a colleague during a meeting of the military council, the Dergue.
In one sense, former Ghanaian President John Jerry Rawlings will count among the patriotic African rulers of old, but there was no forgetting how, as a young Air Force Lieutenant in June 1979, he lined up three former Ghanaian rulers, General Akwasi Afrifa, General Ignatius Kutu Acheampong and General Fred Akuffo, together with eight other military officers, and executed them in one night. Only exceeded perhaps by Liberia’s Master Sergeant Samuel Kanyon Doe, who shot President William Tolbert when he was the sitting Chairman of the Organisation of African Unity [OAU, known today as AU]. Doe then lined up thirteen top officials of Tolbert’s government at the Monrovia beach, including Senate President Frank Tolbert, House Speaker Richard Henries, chairman of the ruling True Whig party Reginald Townsend, Supreme Court Chief Justice James Pierre, Justice Minister Joseph Chesson and Foreign Minister Cecil Dennis, and executed them in front of cheering crowds.
There is even an ongoing competition today to surpass, in repressive potential, Uganda’s Field Marshal Idi Amin Dada, who in 1975 sent agents of his secret police, Bureau of State Research, into the campus of Makerere University to shoot students for embarrassing his guest, Muammar Gaddafi. Not to talk of the killing of Ugandan Chief
Justice Benedicto Kiwanuka in 1972, and the driving of a six-inch nail into the head of Archbishop of Kampala Janani Luwum in 1977.
Some African rulers today are in the race to surpass Central African Republic’s Jean Bedel Bokassa in illusions of sheer grandeur. Bokassa, who started out as an Army Sergeant, seized power from his own cousin David Dacko in 1966, declared himself Emperor and renamed his country Central African Empire. He set out to model himself after the early 19th century French Emperor Napoleon Bonaparte; he even imported horses from France to stage a grand coronation but they died in the Bangui heat.
In sheer breaking of the African heart, some rulers are trying today to do better than Blaise Compaore, who in 1987 shot and killed the darling of African youths, President Thomas Sankara of Burkina Faso. Even French President Francois Mitterrand, when he heard of it, said, “What a waste!” Weeks earlier when West African leaders gathered in Abuja for an ECOWAS meeting, thousands of young Nigerians abandoned
nI ge RIA Tu R n I ng Tow ARDS P R o SP e RITY
is more than a safety net; it ensures that the impact of these necessary reforms is cushioned for the most vulnerable among us, even as we continue to resolve the identity verification issues required to reach our 15 million households’ target.
Hard Truths on Debt and Revenue
The progress we have made does not diminish the tough realities we still face. Debt service costs remain heavy, consuming a larger- than-ideal share of our revenues. This is the consequence of past borrowing and elevated interest rates. At the same time, Nigeria’s fiscal revenue-to-GDP ratio, at about 10 percent after rebasing, remains one of the lowest in Africa. This limits government resources for essential services like health, education, and infrastructure.
On 26 June 2025, the President signed the new Nigeria Tax Act and companion legislation, to take effect on 1 January 2026. These reforms aim to broaden the tax base, simplify compliance, and reduce leakages, while introducing a more progressive tax regime that shields lower-income earners and adjusts rates for higher earners. Together with structural revenue reforms such as the Revenue Optimisation and Assurance programme (RevOp), these measures will strengthen revenues, create fiscal space, and support greater investment in our people and infrastructure.
Anchoring Growth in Real Sectors
A stable economy is crucial, but stability alone
every other leader and shouted, “Sankara! Sankara!” No wonder they killed him.
Apart from 92-year old Paul Biya and Uganda’s 81-year-old President Yoweri Museveni, who has been ruling his country since 1986, some African rulers are in hot contest to surpass President Habib Bourguiba of Tunisia, who in the 1980s was reported to sleep for 15 hours a day. Even Bourguiba could not match the sleeping record of President Hastings Kamuzu Banda of Malawi, who was born in the 19th century. When he was removed from power in 1994 after ruling his country since 1966, Banda did not even know because he was completely senile.
Banda set more sorry African records that some rulers today are trying to emulate. In 1985, he was asked by an interviewer why, 19 years after Malawi’s independence from Britain, most of his permanent secretaries were Britons. He said, “Our African civil servants must learn to be patient! They must wait and learn!” Kamuzu Banda had no wife but he created an institution in the State House called Official Hostess, which was occupied by Cecilia Kadzamira. That
is insufficient. To deliver inclusive prosperity, we must anchor growth in sectors that generate jobs and opportunities. We are providing necessary incentives to revive investments in the oil and gas industry. With improved security, oil theft is down, and production has rebounded to 1.68 million barrels per day, including condensates. Refinery projects are setting the stage for a stronger downstream sector. In agriculture, we are boosting food supply, reducing reliance on imports, and ensuring farmers have security and access to markets.
office was First Lady, Chief of Staff, Minister and Deputy President combined. To our north here in Niger Republic, President Seyni Kountche locked up his predecessor Diori Hammani in underground cells for 15 years until he went blind. Colonel Kountche was so repressive that his country only understood why when he died of brain tumour. They said, “So he was mad afterall!” African rulers today who are ready to fracture and destroy their countries due to power struggle, as we are witnessing in Sudan, have many wannabes around the continent whose reckless gambits could easily endanger their countries’ survival. There are some rulers whose ambition is to surpass Egypt’s President Hosni Mubarak, to see a million people massing at Tahrir Square and demanding their ouster after three decades in power. Clearly, Uganda’s Museveni’s aim is to surpass Libya’s Muammar Gaddafi in sheer longevity in power. Museveni has ruled for only 39 years and still has three years to go before he can catch up with Gaddafi. All of Uganda’s revolving-door rulers since the fall of Idi Amin in 1979 are long gone, including Professor Yusuf Lule, Godfrey Binaisa, General Tito Okello and President Milton Obote. Unlike Gaddafi, Museveni has not issued a Green Book containing his political philosophy, and he has not trained 200 young female bodyguards a la Gaddafi. He might need them, in case rebels one day pursue him into a gutter. Even the gory end of Gaddafi might be preferable to what happened to Liberia’s Samuel Doe. When I saw a video of his capture by rebel leader Yormie Johnson in 1990, who cut off Doe’s ear and shoved it into the president’s mouth, I couldn’t sleep that night. I suspect that many sit-tight African rulers believe that posh guest houses are waiting to accommodate them in Abuja, just as Chad’s General Felix Malloum, Somalia’s President Siad Barre and Liberia’s Charles Taylor were all hosted in Lagos and Calabar guest houses after their overthrows. Only that Nigeria is not a reliable host. Despite guarantees of his safety by a host of African rulers, we seized Charles Taylor near our Chad border and handed him over to International Criminal Court at The Hague. That is why Benjamin Netanyahu will be reluctant to seek shelter here.
through public-private partnerships. The Ajaokuta–Kaduna–Kano gas pipeline, and Project Bridge’s 90,000 km fibre expansion are examples of how we are laying out the groundwork for industrialisation and nationwide connectivity.
Restoring Confidence at Home and Abroad
We are encouraging investment in factories and strategic value chains, creating employment for our young and dynamic workforce. We are investing in technology and the creative sector to harness the energy of our youth and position Nigeria as a hub of innovation. In addition, we are expanding exports beyond oil by tapping into the global demand for critical minerals.
Infrastructure is the backbone of growth. Public funds alone cannot meet Nigeria’s vast needs, so we are attracting private capital
As I begin to conclude, the clearest sign that Nigeria is on the right path is the return of confidence. Investors – both domestic and foreign, multilateral institutions, and ordinary citizens are starting to believe in the nation’s prospects again. But confidence is fragile. Sustaining it demands a predictable policy environment, disciplined fiscal management, and steady progress in reducing inflation. Our medium-term target is 7 percent growth by 2027/28. Achieving this will require not only government action but the full participation of the private sector, entrepreneurs, and citizens. I am confident that if we work together, we will not only meet this target but surpass it. The task ahead, therefore, is to deepen resilience, broaden opportunities, and ensure that reforms translate into real improvements in daily life - better schools, affordable food, reliable power, accessible healthcare, and jobs for our youth.
Then, we can be rest assured that Nigeria’s next decade will be one of shared prosperity and renewed hope.
•Wale Edun is Minister of Finance and Coordinating Minister of the Economy
President Bola Tinubu
Issa Chiroma Bakary
FIFTH ANNIVERSARY CELEBRATION…
President, nigerian baptist convention, revd. dr. Israel akanji(third right); executive President, Lagos central baptist conference(Lcbc), dr. Victor akerele(second left); his spouse, esther akerele; their children(from left), dr. tobi akerele; tomi akerele, and tolu akerele, the fiffth anniversary celebration of akerele as Lcbc president in Lagos…recently
60-year-old Orphanage Owner, Others Arrested for Child Trafficking
Police Burst Baby Factory, Kidnapping Rings in Ondo
Michael Olugbode inabuja andFidelis David inakure
The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has arrested a 60 years old prominent member of the orphanage owners umbrella body in Nigeria and founder of an internationally recognised civil society organisation, National Council of Child’s Right Advocates of Nigeria (NACRAN), based in Benue State, (name withed), in connection with an alleged large-scale case of child
APC Zamfara Slams Shinkafi, Praises Tinubu’s War on Insecurity
Onuminya Innocent
The Zamfara State chapter of the All Progressives Congress (APC) has criticized Sani Abdullahi Shinkafi, describing him as a serial betrayer driven by envy, frustration, and meddlesomeness.
In a statement issued by the party Publicity Secretary, Yusuf Idris Gusau, the APC applauded President Bola Ahmed Tinubu for his ongoing efforts to tackle insecurity across the country.
According to the statement, “Shinkafi’s actions are motivated by a desperate quest for relevance, and he has
been maligning former Governor Bello Mohammed Matawalle, who provided him with political shelter in 2019 after he lost relevance in the All Progressives Grand Alliance (APGA).”
The party claimed that Shinkafi’s allegations about Kabiru Mafara being forced out of the APC are false, stating that Mafara left voluntarily.
The state APC asserted that it has never been more united in Zamfara State, crediting the commitment of leaders like Minister Matawalle, Senator Abdul’aziz Yari, and former Governor Mamuda Shinkafi.
Artisan Wins ‘Salary for Life’ in Access Bank Promo
In a gesture of appreciation for customers’ loyalty, Access Bank, in its 17th DiamondXtra ‘Salary for Life’ promo in Jos, has rewarded the grand prize winner, Abdurman Idris, with N200,000 monthly salary for 15 years. The bank also rewarded many other loyal customers with other life-changing cash prizes.
Idris, a labourer from Rekos quarters in Jos, expressed excitement over the gesture saying: “I am very excited about the gesture, and I promise that
I’m going to use the money to start up a business.”
His win is expected to have a positive impact on his life and business prospects, enabling him to achieve his dreams and improve his socio-economic status.
Another winner, Bitkat Dimlong Mbok, a civil servant working with Jos North Local Government Area, won N200,000 cash prize. Mbok, who received the message about the draw and was initially hesitant to attend, said: “I told my wife to pray for me, and I’m happy I won.”
trafficking, child sale, and illegal adoption.
In a similar development, operatives of the Ondo State Police Command have uncovered a baby factory and human trafficking syndicate in
Ore, Odigbo Local Government Area, and arrested members of a notorious kidnapping gang terrorising travelers along major highways in the South-west.
A statement by the National Press Officer of NAPTIP,
Vincent Adekoye, yesterday read: “In a major breakthrough led by operatives of the agency, Markudi Command, the agency rescued 26 children, out of the over 300 suspected to have been trafficked and sold to
different persons within Benue, Enugu, Lagos, Nasarawa, and Abuja, while about 274 others are still being traced, as investigations intensify to unravel the full extent of the syndicate’s activities.”
Senate Leader, Bamidele, Restates Support for Oyebanji
Gbenga Sodeinde inado ekiti
The Leader of the Nigerian Senate, Senator Michael Opeyemi Bamidele, has donated a white coaster bus to the State Executive Council of the All Progressives Congress, (APC) in Ekiti State. Speaking during while presenting the bus to the
party at the weekend in Ado Ekiti, Senator Bamidele restated his earlier position that the incumbent Governor of Ekiti State, Mr. Biodun Abayomi Oyebanji, remained the consensus candidate of the party in the state ahead of today’s Monday, October 27, 2025’s primary election.
Bamidele used the opportunity to inform the
gathering that Engineer Kayode Ojo will soon collapse his structures to join the campaigns of the Oyebanji to secure victory for the party ahead of 2026 governorship poll.
Kayode Ojo was disqualified by the National Working Committee of the party for not meeting up with some requirements.
However, Bamidele said Kayode Ojo confidentially told him that President Bola Tinubu summoned him and advised to work with the incumbent governor of the state. His words: “Kayode Ojo told me that Tinubu has talked to him to stay down, go back home and make peace.
Senator Adeola Intervenes in 12 Electricity Projects in Ogun
James Sowole inabeokuta
The Senator Representing Ogun West, Solomon Adeola, has intervened to provide solution to the lingering power outages in parts of Ogun State.
The current intervention, covered stakeholders in
communities in Ogun West and Ogun Central, who had been experiencing power outages that had been lingering for several months.
Residents and stakeholders of the benefitting communities including business owners, traditional rulers, community leaders, had been lamenting
over power outages in the area, which had literally paralysed social and exonomic activities in parts of Ogun West and parts of Ogun Central senatorial districts.
In a statement issued by the Senator’s Media Office, the law maker lamented that such prolonged power outages not only affect businesses particularly, micro, small and medium scaled businesses that cannot afford the huge cost of alternative energy, but the quality of lives of the people.
Govt Urged to Recognise Dokpesi’s Contributions to Broadcasting
Mary Nnah
Eighteen years after the first Raymond Dokpesi Endurance Trek, Nigerians continue to demand government’s recognition of the late media mogul’s contributions to broadcasting in Nigeria. Nigerians marked the 18th anniversary of the Raymond
Dokpesi Endurance Trek on Saturday, October 25, 2025, with a renewed call on the federal government to declare October 25 as the “Day of Private Broadcasting in Nigeria.”
The annual event, themed “Raymond Dokpesi: The Beacon of Hope for Broadcasting in Nigeria,” drew
media practitioners, journalists, and industry stakeholders to the streets of Lagos, all calling on the Federal Government to declare October 25 as the “Day of Private Broadcasting in Nigeria.”
The trek, which started from Kollington Bus, Alagbado, Lagos, and ended at the AIT Compound, where
Raymond Dokpesi’s media empire began, underscored the enduring legacy of the late media mogul. Dokpesi, widely regarded as the architect of private broadcasting in Nigeria, pioneered the country’s first private television station, AIT, and its first private radio station, Raypower FM.
Delta Communities to Shut Down NEPL’s Operations over Failure to Fund HCDT
Sylvester Idowu in Warri
Stakeholders from various communities in Isokoland, hosts to the Nigerian National Petroleum Company Exploration and Productions Limited (NEPL) and operators of OML 26 and the new players, Sterling Global, as well as other oil companies
operating in the areas have threatened to shut down their operations over refusal to implement the PIA act
They were particularly disturbed and disappointed that nearly two years after the inauguration of AIO Host Community Development Trust (AIO HCDT) as mandated by the Petroleum
Industry Act (PIA) of 2021, nothing has happened to speed the growth of their communities.
Reacting under the auspices of Isoko Grassroots Mobilisers, the stakeholders in a statement issued yesterday and signed by Erere Okpako and Angela Akpofa, said unless urgent steps were
taken, the operations of the oil companies would be disrupted to vent their anger.
“We are worried about the deplorable state of our various communities as a result of decades of neglect by oil companies operating in Isoko land, and we are spoiling for shut down of oil operations in our land.
Seriki Adinoyi in Jos
Remo Stars Crash out of CAF Champions League
Duro Ikhazuagbe
Nigeria’s NPFL champions, Remo Stars yesterday failed in their bid to upturn the massive 5-1 home defeat they suffered in the first leg of the CAF Champions League last week as they fell 2-0 to hosts
Mamelodi Sundowns of South Africa in Pretoria. The Ikenne club lost the chance to proceed to the money spin- ning group stage of the premier club football competition in the continent. Remo failed where Earlier on Saturday, River United succeeded against Mozambique’s Black Bulls in the same tourna-
Osimhen Can’t Stop Scoring for Galatasaray, Equals Buruk’s Record
Victor Osimhen was again among the goals scorers as Galatasaray came back from a goal down to beat Goztepe 3-1 in the Turkish Super Lig match on a Sunday evening.
The Nigerian international drew home team Galatasaray level in the 19th minute after Goztepe had taken the lead in the sixth minute through EfkanOsimhen’sBekiroglu.goal has now pushed him to equal the 43 goals Coach Okan Buruk netted for Galatasaray in his hey days for the Istanbul giants.
Galatasaray scored two more goals in the second half through Gabriel Sara and Mauro Icardi.
Galatasaray remain on top of the Turkish topflight on 28
points, five clear of second placedHowever,Trabzonspor. one of the talking points from this clash was that the visitors were reduced to 10 men after 42 minutes when Osimhen’s marker, Malcom Bokele, was sent off for dangerous play against the 2023 African Player of the Year as rival fans bitterly complained that the refereeing again favoured Galatasaray.
But speaking after the match , Osimhen in a social media post insisted that he does not care, that the fans can cry river.
“For me, the rival fans can cry on social media for all they want,” dared Osimhen after this win. “We deserved our victory.”
Eze Extends Arsenal’s Lead at Summit of Premier League
Eberechi Eze scored against his former club as Arsenal beat Crystal Palace to extend their lead at the top of the Premier League table to four points.
Eze joined the Gunners in a deal worth £67m in the summer and his winner came from another trademark Arsenal set-piece.
Declan Rice curled a freekick into the area which was knocked down by centre-back Gabriel, then Eze acrobatically fired the ball into the corner of the net.
Crystal Palace, who lost to AEK Larnaca in midweek, did threaten on occasion with JeanPhilippe Mateta battling against the solid Arsenal defence - but they did not trouble David Raya in goal.
Arsenal nearly doubled their lead in the second half when Gabriel hit the crossbar with a header and Bukayo Saka went close with a curled effort from the edge of the penalty area.
The win means Arsenal are now unbeaten in 10 matches in all competitions.
Boxers Thrill Fans at Lagos Boxing Hall of Fame
Fans at Agege Stadium, Lagos, were treated to an electrifying display of boxing talent as the Lagos Boxing Hall of Fame (LBHF) Championships made a triumphant return over the weekend.
The one-day tournament featured 10 thrilling bouts, marking the comeback of Nigeria’s longest-running grassroots boxing event. Boxers
from across Lagos dazzled spectators, leaving them eager for more action.
Fawaz Sharafadeen of Star Boxing Club, Ajegunle Apapa, delivered the only technical knockout (TKO) of the day in the men’s 70kg category, flooring Olamilekan Badiru of Lion Star BC, Ikorodu-West in under two minutes of the first round.
ment.
Now, the Port Harcourt side will play in the group stage to redeem Nigeria’s sliding image in continental club football.
Mamelodi Sundowns scored twice in the first half in Pretoria to proceed to the group phase of the Champions League on 7-1 aggregate win
over Remo.
Elsewhere, Tanzanian heavy- weights Simba SC secured their place in the group stages of the CAF Champions League after holding Nsingizini Hotspurs to a goalless draw in Dar es Salaam onTheSunday. result was enough for the Tanzanian giants to progress with
a 3-0 aggregate victory, following their convincing win in Eswatini penultimate weekend.
Sunday afternoon also brought decisive victories for ES Tunis and Stade Malien, both sealing their places in the CAF Champions League group stages after impressive performances in their second-leg fixtures.
In Rades, Espérance Sportive de Tunis (ES Tunis) showcased their continental pedigree with a commanding 3-0 home victory, completing a 4-0 aggregate win over Rahimo FC. In Bamako, Stade Malien continued their remarkable run by dispatching FC Nouadhibou with a solid 2-0 win at home.
TO GOD BE THE GLORY....
giving thanks to God for his first Premier League goal for Arsenal as the Gunners defeated Crystal Palace 1-0 to extend their stay at the top of the English topflight
Stakeholders Insists on Election to Pick President of Gymnastics Federation
NSC DG, Olopade, promises to resolve GFN leadership crisis
Michael Olugbode in Abuja
The Director General, National Sport Commission (NSC), Bukola Olopade, has promised to address and resolve the leadership crisis currently engulfing the Gymnas- tics Federation of Nigeria (GFN).
This is as one of the candidates for presidency of the federation, Alhaja Kafilat Omowunmi Ola- lere, insisted on a transparent and all inclusive election to choose the executives of the body.
The outgoing President of the Federation, Kelvin Erhunmwunse, had earlier conducted an election which was nullified by the NSC for failing to meet the guidelines for the National Federations polls.
NSC thereafter fixed a date for another election on two different occasions but unfortunately, it has since failed to organise another one leaving many delegates who converged on Abuja at the weekend to be part of elections into almost all the sporting federations bewildered and dissatisfied.
Speaking at the weekend in Abuja during the election of
executives of other federations under the National Sport Com- mission, Olapade said he will be sitting down with the two gladiators in GFN to resolve the crisis.
However, Olalere who is contesting the GFN President’s po- sition with Kelvin Erhunmwunse, said the only way to resolve the issue is to allow them to go to
theShepolls.maintained that only properly conducted election that allows all stakeholders’ to participate will be acceptable to her.
“We are just not happy that our federation election did not hold. That is the Gymnastics Federation of Nigeria. We received the correspondence that there will
be an election on the 25th from the sports commission.
“Every delegate that were elected into the GFN board were expected to vote today. Everybody is here from across the nation only to be told that there will be no election.
Responding to Olopade’s promise to resolve the crisis at a round table between the two
Indian Cup 2025 to Tee off Today with 500 Golfers at Ikoyi
The 2025 edition of the Indian Cup Golf Tournament will tee off this morning Monday, October 27, 2025, at the Golf Section of Ikoyi Club 1938, Lagos, marking the start of a weeklong celebration of golf, friendship, and community spirit.
According to Chairman of the Organizing Committee, Keshab Vaswani, the tournament will feature about 500 golfers across various categories, with a rich lineup of activities designed to
reflect the event’s heritage of inclusivity and excellence.
“We are thrilled by the enthu- siasm this year,” Vaswani said.
“The number of players and partners coming on board shows that the Indian Cup continues to be one of the most anticipated events on the Ikoyi Club calendar. It’s not just about competition — it’s about connection, celebration, andThecommunity.”
weeklong tournament will open today Monday, October 27,
Club
with Caddies and Professional golfers taking to the course in the opening rounds. Winners from this segment will go home with cash prizes and food items, as part of the organizers’ appreciation for the vital role caddies and profes- sionals play in the game.
This year’s event is sup- ported by Inbev, African Steel Industries, Zenith Bank, 7Up Bottling Company, CFAO Motors among others.
Eberechi Eze (second right),
niGERiA DELiSTED FRom FATF GREY LiST...
Rat Race into Sorry African Record
Think about this. This week, results of Cameroon’s presidential elections held on October 12 are expected to be officially announced by the Constitutional Council today, October 27. Opposition leader Issa Chiroma Bakary is claiming victory in an attempt to pre-empt what he sees as a predetermined outcome. There is no doubt, however, that President Paul Biya, who at 92 is the world’s oldest Head of State and has ruled Cameroon since 1982, will be declared winner for another seven-year term. Opposition leaders have already been arrested ahead of today’s confirmation of result.
Not only Cameroon. The people of Cote D’Ivoire went to the polls at the weekend, but all four of President Alassane Ouattara’s rivals, Laurent Gbagbo, Charles Ble Goude, Guillaume Soro and Tidjane Thiam, were
GUEST COLUMNIST
thrown off the ballot paper. Ouattara, who is 86 years old and has ruled the country
since 2011 when French Foreign Legionnaires intervened in a civil war and helped him to oust sit-tight President Laurent Gbagbo, is himself sitting tight. He controversially amended the constitution to enable him seek a third in 2020 and he is now seeking a fourth term, prelude to a life presidency. What African men can do, African women can do even better. President Samia Suluhu Hassan of Tanzania, who accidentally became president in 2021 when President John Magufuli fell sick and died, is set to seek re-election on Wednesday, October 29. But it is a foregone conclusion; she has jailed, exiled or banished all her opponents including Freeman Mbowe, Tundu Lissu and Luhaga Mpina. Victory for her and her Chama Cha Mapinduzi [CCM] party is certain after a very flawed process. I once thought, naively, that the bag of
sorry African rulership record was long ago filled to the brim and that there is no more space in it for anyone to aspire to. I was wrong there. It is the bag of saintly, visionary, patriotic, philosophical, poetic, thoughtful and anti-imperialist African rulers that was filled up long ago and has been gathering dust in African basements. We no longer have philosopher-kings like Kwame Nkrumah; no more great poets like Leopold Sedar Senghar Senghor; no more fierce patriots such as Hoary Boumedienne; no more saints such as Julius Nyerere; no more gentlemen such as Abubakar Tafawa Balewa; no more leaders who fought colonial and UDI rule in the bushes such as Amilcar Cabral, Samora Machel, Agostinho Neto, Robert Mugabe, Joshua Nkomo and Sam
Nigeria Turning Towards Prosperity
In this role, I often feel a mix of emotions: deep pride in our national journey, regret over the opportunities we failed to seize, and confidence in our direction of travel today. Despite some historical shortfalls and present-day challenges, I believe the most difficult phase of our economic journey is behind us. Nigeria has turned a decisive corner. The road ahead will demand hard work and discipline, but we are firmly on the right path.
When President Bola Ahmed Tinubu took office in 2023, Nigeria’s economy was on the brink of fiscal collapse. Slowing growth, surging inflation, and market distortions like the fuel subsidy and multiple exchange rate regimes had created an environment that scared off investment. The President’s mandate was clear - dismantle those market distortions,
reward productivity, and create a climate where private investment can thrive.
From Crisis to Stability
Two years later, the results are evident at the macro level. GDP grew by 4.23 percent in the second quarter of 2025. Inflation, while still high, has moderated to 18.02 percent after six consecutive months of decline. The exchange rate has stabilised, and the gap between official and parallel markets has narrowed to about 1 percent, down from a peak of nearly 70 percent. Importantly, foreign reserves have risen above $43 billion, the highest since 2019. These are more than just numbers; they are the foundation for building inclusive growth that benefits every Nigerian.
Notwithstanding, we recognise that the economy is ultimately about people, not statistics. Millions of Nigerians measure progress by the cost of food, transport, and other necessities. I am keenly aware of this reality. Food
inflation has been our heaviest burden since it surged after currency depreciation and the removal of fuel subsidies. However, targeted measures are beginning to ease the pressure. A bag of rice that cost about N120,000 last year now averages around N80,000. The prices of garri, pepper, tomatoes, and other essentials have also decreased.
At the same time, we are careful to ensure our smallholder farmers have enough incentives to return to farms next planting season. We are therefore implementing programmes that stimulate agriculture production by safeguarding smallholder farmers’ incomes.
In addition, 8.1 million households nationwide have received direct cash support from the government to help meet basic needs. This
Continued on page 45 Continued on page 45
Issa Chiroma Bakary
President Bola Tinubu
L-R: Minister of Interior, Olubunmi Tunji-Ojo; President, Financial Action Task Force (FATF), Elisa de Anda Madrazo; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and Vice President, FATF, Gilles Thompson, after a meeting held in Paris, when Nigeria was delisted from the FATF grey list… recently
