MONDAY 2ND JUNE 2025

Fitch Upgrades Fidelity Bank’s National Rating

US Links Surge in Nigeria’s Terror Attacks to Exit from Niger, Chad

Emmanuel Addeh

Abuja The United States has blamed the rising attacks by terrorist groups in Nigeria and other African countries on its forced exit from bases in some neighbouring countries, including Niger and Chad, pointing to its inability to effectively monitor the activities of the violent organisations. Commander of the US Africa Command (AFRICOM), US Marine Corps, Gen. Michael Langley, who spoke at the weekend during a digital press briefing after the “African Chiefs of Defence Conference” in Kenya, described the recent attacks in Nigeria and other parts of the Sahel as deeply concerning.

AMAECHI @60: L-R: Former Rivers State Governor and Minister of Transportation Chibuike Rotimi Amaechi, his wife Judith and former Vice President Atiku Abubakar at the birthday public lecture to mark Amaechi’s 60th birthday in Abuja at the weekend.

in

Sunday Aborisade, Deji Elumoye, Michael Olugbode in Abuja and Laleye Dipo in Minna

ECOWAS: Dangote Refinery Symbolises Hope for Africa, Founder

Has Continental Vision

Dangote: we’ve capacity to meet region's petroleum needs Declares Nigerians currently paying

Peter Uzoho

President of Economic Community of West African States (ECOWAS) Commission, Dr Omar Alieu Touray, has described the 650,000 barrels per day (bpd) Dangote petroleum refinery as a beacon of hope for Africa and a clear demonstration of what the private sector can achieve in the drive for regional industrialisation.

Touray made the declaration when he led an ECOWAS delegation on a visit to the state-of-the-art facility towering over the Lekki Free Zone, on the edge of the Atlantic, in Lagos.

multiple regions and involving various extremist groups. In Borno State, North-east Nigeria, Boko Haram and its faction, the Islamic State West Africa Province (ISWAP), have intensified their assaults.

In central Nigeria's Benue and Plateau states, violence attributed to armed herders has also surged. These attacks, coming after a considerable period of lull in terrorist activities, have targeted both civilians and security forces, leading to huge casualties and displacement.

But the US top military officer said the absence of his country's intelligence and counterterrorism support, which had previously helped monitor and disrupt extremist networks across the Sahel, might have created security gaps that terrorist groups were now exploiting.

Langley stated, “I’ll just say that since we left Niger in September of last year, we’re observing a rise in attacks by violent extremist organisations, not only in Niger but across the Sahel to include Nigeria as well as going into Burkina Faso and Mali.

“Now, this increase is measurable by both frequency and complexity

The statement quoted Touray as saying, “What I have seen today gives me a lot of hope, and everybody who doesn't believe in Africa should come here. Visiting here will give you more hope because this is exactly what our continent should focus on.”

Touray, who was visibly moved by the scale and sophistication of the facility, added, “We have seen something I couldn't have imagined, and really the capacity in all areas

According to a statement by Dangote Group, the delegation also included ECOWAS Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka; Commissioner of Internal Services, Professor Nazifi Abdullahi Darma; Director of Private Sector/SME, Dr. Tony Luka Elumelu; and Touray’s Chief of Staff, Hon. Abdou Kolley.

of these attacks driven by persistent and socio-economic grievances and the proliferation of weapons and increased capable terrorist groups across the board.

“So, unfortunately, with our withdrawal from the region, we have lost our ability to monitor these terrorist groups closely but we continue to liaison with partners to provide what support we can.”

According to the AFRICOM chief, the incidence of violence is not only troubling, but the scale of brutality that comes with them have also become concerning.

Established in 2007, AFRICOM is responsible for US military operations, partnerships, and security cooperation across the African continent, excluding Egypt.

The military organisation says its primary mission is to strengthen the defence capabilities of African nations, support humanitarian and disaster relief efforts, and counter transnational threats, including terrorism, piracy, and illicit trafficking.

In recent years, AFRICOM has faced growing challenges, as African nations re-assess foreign military partnerships

resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders. Despite a challenging macroeconomic environment, we have continued to maintain strong asset quality, solid profitability, and ample liquidity. This recognition reinforces our position as one of Nigeria’s most resilient and customer-focused financial institutions.”

Nigerian government on the devastating floods in Mokwa, in Niger State.

Turkiye, in a statement by its Ministry of Foreign Affairs at the weekend, said, “We are deeply saddened by the loss of lives and destruction caused by the devastating floods in the Mokwa region of Niger State, Nigeria.

“We extend our condolences to the families of those who lost their lives and to the people of Nigeria.”

Reacting to the flood disaster, ex-President Muhammadu Buhari mourned the 100 lives lost to flash floods that destroyed homes and displaced thousands of residents in Niger State, as well as 22 young athletes, coaches, and officials, who died in a fatal auto crash in Kano State.

In his messages to the bereaved families, governments and the people of Niger and Kano states on Sunday, Buhari said the tragic incidents, happening in quick sequence last week, left him shocked and devastated, as they did to many people in different parts of the world.

He said, “I am deeply pained by the loss of lives due to the floods in Niger State and the road accident in Kano State. The deaths are painful and devastating. Condolences to the families and friends of all those who

is impressive.

“We congratulate Alhaji Dangote for this trust in Africa, because I think you do this only when you have the trust, and he has a vision for Africa, and this is what we should all work to encourage."

The ECOWAS commission president stated that the refinery, which produces fuel to Euro V standard, was critical for enabling the ECOWAS region meet its 50 parts per million (ppm) sulphur limit for petroleum products – a standard many imported fuels failed to meet, posing health and environmental risks across member states.

“We are still importing products below our standard when a regional

and geopolitical competition increases, particularly from Russia and China.

“The recent attacks in Nigeria and across the Sahel are deeply concerning,” Langley said, stressing, “The scale and brutality of some of these incidents are really troubling.”

He added that the US was monitoring the situation closely and sharing intel with the Nigerian military and also regional partners in the area of security.

Langley, who took questions from journalists, explained, “We are committed to supporting one of the most capable militaries in the region, in Nigeria.

“Unfortunately, with our withdrawal out of the region, though, we have lost some of our ability to monitor terrorist attacks closely, but we continue to liaison with our partners to provide what support we can.”

However, he insisted that every nation must make independent decisions regarding their security, including partnerships, pointing out that the US respects sovereignty.

On why the US was not actively helping Nigeria to fight terrorism, Langley said, “So now, as I said before,

One of the key drivers of the improved rating is the bank’s robust capitalization. Fitch reports that Fidelity’s Fitch Core Capital (FCC) ratio rose to 29.9% at the end of 2024—well above the regulatory minimum. The agency also noted that further capital raising efforts are expected to position the bank to meet the N500 billion minimum capital requirement for internationally

have lost their loved ones. May the injured recover soon.”

President of the Senate, Senator Godswill Akpabio, also commiserated with the governor of Kano State, Mallam Abba Kabiru Yusuf, and families of the dead state contingent to the just concluded National Sports Festival in Ogun State.

Akpabio, who represented President Bola Tinubu at the closing ceremony of the games in Abeokuta on Friday, sent his condolences on Sunday in a statement signed by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh.

He said, "It is with profound sadness that I received the news of the tragic death of over 20 members of the Kano State contingent that participated in the National Sports Festival in Ogun State.”

Akpabio stated, "On behalf of my family, constituents, the Nigerian Senate and the entire National Assembly, I extend my deepest condolences to Your Excellency, Governor Abba Kabir Yusuf, the government, and people of Kano State.

"This devastating loss is a painful reminder of the fragility of life and the importance of prioritizing the safety and well-being of our citizens, particularly our youth.

“We stand in solidarity with the families of the deceased and pray

company such as Dangote can meet and exceed these requirements. The private sector must take the lead in ECOWAS industrialisation," Touray said.

He called for stronger collaboration between governments and the private sector, stressing that policy decisions must reflect the real challenges and opportunities experienced by African industrialists.

Touray stated, "We believe our visit also serves as an opportunity to hear directly from Mr. Dangote, about what the private sector expects from the ECOWAS community."

He said as ECOWAS celebrated its 50th anniversary, the community was more committed than ever to

we respect nations' sovereignty and only go where we’re asked as long as it aligns with US national security objectives.

“I was just in Nigeria back in November, where I got to see firsthand how we actively work with and support Nigerian defence objectives.

“During my entire command, I’ve been on a campaign of learning, and when I was in Nigeria, I sat across from our Nigerian partners to hear how we can assist. Because again, the United States, we act with our partners, and in this particular case with Nigeria, we work together to combat Boko Haram and ISIS West Africa to promote regional security.

“Nigeria is a strategic African partner, and we have a long history of providing critical material and training support to Nigeria. It extends across from military sales, defence articles, and also training to go along with the foreign military sales.

“That’s a great example of how the law of armed conflict education goes with military training, and also, we’ve also had some intel sharing with them.

“So Nigeria is a leading supporter and previous host of ‘Obangame

licensed banks before the 2025 deadline.

Fidelity Bank's market positioning remains strong. As Nigeria’s sixth-largest bank, it commands approximately 5% of total banking sector assets. The bank’s balance sheet is reinforced by a high proportion of low-cost deposits, which accounted for 93% of total deposits as of year-end 2024—among the highest in the Nigerian banking

for their swift healing and comfort during this difficult time.”

The senator for Niger East Senatorial District, Mohammed Sani Musa, called on corporate organisations to support victims of the recent flood disaster in the Mokwa Local Government Area of Niger State.

Musa said, “In times of hardship, our shared humanity and unity are our greatest strengths.”

He explained that his decision to donate N50 million and truckloads of food items to the victims was to support the ongoing relief efforts by government agencies.

The Mokwa flood disaster occurred on the night of May 28, following torrential rainfall, which lasted several hours, submerging homes, sweeping away vehicles, and destroying critical infrastructure, including roads and bridges.

Meanwhile, an apparently overwhelmed Niger State Government sought support from governmental and non-governmental organisations, consequently opening a special bank account where such donations were to be deposited.

The government also warned fraudsters against exploiting the situation, saying those caught would be prosecuted.

Niger State Deputy Governor,

bringing the private sector to the table – to listen to their perspectives and understand how best to create an environment that works for them.

Touray said, "We cannot continue to make decisions on behalf of the private sector from a distance. Visits like this provide us with first-hand experience and direct insight into the challenges they face – challenges that authorities and government officials must work to address."

He stated that the time was ripe for the region to pursue an industrial strategy capable of addressing deep-rooted challenges, such as youth unemployment, poverty, and insecurity.

He said, “We often speak about

Express’ as well, highlighting their role as a leader in the region.”

The top US military general in Africa said terrorist factions in the Sahel region had increased their presence so much in the past three years that they soon might be able to launch attacks within America, if not tamed.

He stated, “Today, I want to emphasise the US AFRICOM’s strategic approach. I’ve been charged by the Secretary of Defence, Pete Hegseth, to mitigate threats to the US homeland posed by terrorist organisations, the most dangerous of which are, unfortunately, right here on the African continent.”

Langley added, “The Sahel – that’s where we consider the epicentre of terrorism – Mali, Burkina Faso, and Niger are confronted with this each and every day; they’re in crisis. The terrorist networks affiliated with ISIS and al-Qaeda are thriving, particularly in Burkina Faso, where the government has lost control of wide swaths of territory across their sovereign nation.

Attacks are resurging in the Lake Chad region as well, and extremist groups are growing more aggressive.

“One of the terrorists’ new

industry.

The affirmation and upgrade by Fitch is expected to enhance investor confidence and support Fidelity’s continued efforts to scale its operations both locally and internationally.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking

Comrade Yakubu Garba, disclosed the move when he received at Government House a federal government delegation, which included Minister of Information and National Orientation, Alhaji Mohammed Idris, and his poverty reduction counterpart, Professor Nentawe Goshwe Yilwatdo.

"While the state government is appealing for corporate, individual and non-governmental organisations supports, on no condition should such assistance be channelled through privately owned accounts," Garba warned.

He added that those willing to contribute towards bringing succour to the flood disaster victims should contact the relevant state agencies for proper guidance.

"As a state, we have opened a dedicated account for this disaster; every support should be channelled to it," he stated.

Garba commended the National Emergency Management Agency (NEMA) for its "outstanding performance" in assisting the Niger State Emergency Management Agency (NSEMA) in the search and rescue operations, which he said were still ongoing.

Earlier, Idris conveyed Tinubu’s heartfelt sympathy to the state government, and assured that the

poverty eradication and youth employment, but the government alone may not have the capacity to achieve these goals.

“Only the private sector can deliver the scale of impact required, and it is essential that we listen to them, understand how these objectives can be met, and identify the bottlenecks they face so that they can be effectively addressed. This is the only realistic path to creating jobs and fostering genuine prosperity across our economies.”

objectives is gaining access to West Africa coasts. If they secure access to the coastline, they can finance their operations through smuggling, human trafficking, and arms trading. This puts not just African nations at risk, but also increases the chance of threats reaching the US shores.”

Langley said that was why the coastal partners were fighting fiercely along their northern borders to prevent terrorist expansion, assuring that AFRICOM is standing with them.

Langley stressed, “My second charge from Secretary Hegseth is to confront the military ambitions of the Chinese Communist Party on the continent. So while the US works to build transparency and respectful partnerships, China continues to pursue access to Africa’s resources – often ignoring long-term sustainability.

“So we’re taking a different approach – one that links security with trade. We know private investment cannot thrive without safety. That’s why AFRICOM’s role is so vital: we are not just helping build military capacity for African nations, we are helping build the stability that underpins both African and American prosperity.”

channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity

administration will stand by the state in these trying times.

The information minister said the federal government had set the necessary machinery in motion to check incidences of flash floods across the country.

He said as the rains intensified across the country, the information ministry had mandated the National Orientation Agency (NOA) to carry out public enlightenment and sensitisation campaigns to educate Nigerians on the danger of dwelling along flood plains.

The collapse of a nearby dam had exacerbated the Niger State flood tragedy, causing even more devastation.

Meanwhile, the Niger East senator, who is the Chairman, Senate Committee on Finance, in his statement, commiserated with the state government and people of the local government over the unfortunate development.

Part of the statement read, “On behalf of myself, my family, and the good people of Niger East Senatorial District, I extend my deepest condolences to His Excellency, Governor Mohammed Umaru Bago, the people and Government of Niger State, His Royal Highness the Etsu Nupe, and the resilient people of Mokwa in the wake of

Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

the recent and devastating floods that have severely impacted the region.

“This tragic disaster has brought immense suffering – claiming lives, displacing families, and disrupting livelihoods across Mokwa and its surrounding communities. I mourn with the families who have lost loved ones and offer my heartfelt sympathies to all those affected.

“As a demonstration of my personal commitment and compassion, I am supporting ongoing relief efforts with a donation of N50 million, along with several trucks of essential food supplies – including rice, millet, and maize – to help provide immediate sustenance to displaced and vulnerable members of the community.”

Musa added, “I commend the leadership and courage shown by Governor Bago, the Government of Niger State, the revered Etsu Nupe, and the tireless efforts of emergency responders, traditional leaders, and volunteers who are working diligently to bring relief and hope to the affected population.

“I also call upon fellow citizens, corporate bodies, and humanitarian organisations to come forward and contribute meaningfully to the recovery efforts.”

Dangote

GOOD TO MEET YOU AGAIN, MR PRESIDENT.. .

and former Presidential spokesman, Reno

Port Concession: Again, Hadiza Bala Usman Accuses BUA of Twisting Facts

Emmanuel Addeh in Abuja

Former Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, has again reacted to an accusation by BUA Group that she disobeyed court orders and violated the terms of an agreement with the company.

In a statement yesterday, signed by her Media and Communications Adviser, Niran Adedokun, Bala Usman, who is also Special Adviser to the President on Policy Coordination, described BUA’s narrative as half-truths and outright falsehoods.

She stated that instead of apologising to the public and to her for the first false statement it had made, the BUA group had doubled down, “brandishing a new set of lies and misleading information regarding its breach of contractual obligation to the NPA.”

BUA Group had dismissed as false the claims of breaching the concession agreement and distorting facts made against the Nigerian conglomerate and its chairman, Abdul Samad Rabiu, by Bala Usman.

BUA said, in a statement, “We have taken note of recent public statements made by Ms. Hadiza Bala Usman, the former Managing Director of the Nigerian Ports Authority (NPA), who was sacked from office.

“In her comments, she accused BUA Group and our Chairman, Abdul Samad Rabiu, of breaching a concession agreement and distorting facts.

“Ordinarily, we would not engage, but the distortions in her response necessitate this factual clarification, especially as they relate to her actions during her tenure as MD of the NPA.”

However, Bala Usman stated, “It is

also curious that the company's claim to lack security did not prevent it and all other concessionaires from making full commercial use of the facility at any time. The claim that the authority disobeyed the order of the Federal High Court sitting in Lagos, which granted an injunction to BUA, is also untrue!

“The NPA obeyed the court order and allowed BUA access and continued use of the facility from January 2018, when BUA secured the injunction, until June 2019, when it was decommissioned due to safety concerns raised by the company itself.

“In the 18 months between January 2018, when the company secured the court injunction, and June 2019, BUA berthed 117 vessels, comprising liquid and dry bulk cargoes. This data refutes the claim that the NPA flouted court orders.”

According to Bala Usman, the total number of vessels BUA berthed also indicates that it made full commercial use of the terminal, despite the poor quay walls and low draft.

The statement said on May 16, 2019, BUA Ports and Terminals Limited wrote to NPA informing it that the jetty was in a state of total dilapidation and urgent need of repair or reconstruction and its engineers had advised that the jetty was liable to collapse at any moment.

Upon receiving the letter, the former managing director said she sought the advice of the engineering department of NPA, which advised her office that the situation described in BUA's letter raised serious safety concerns.

It went further to recommend that the authority should decommission the jetty pending the submission and approval of the reconstruction details,

IATA Projects Africa Passenger Traffic to

Reach 345m in 2043, Doubling 2023

Chinedu

International Air Transport Association (IATA) projected that Africa passenger traffic will reach 345 million by 2043, which will more than double the figures for 2023. It said traffic on the continent would grow at an average annual rate of 3.7 per cent over the 2023-2043 period.

IATA made the projections yesterday at its 81st Annual General Meeting (AGM) in New Delhi, India.

The global body frowned on the cost of doing business in Africa and the rigid visa access, saying it is a disincentive to foreign investment.

IATA stressed that the cost of doing business in Africa was among the highest in the world, lamenting that it is very expensive to do business in Africa.

It said African airlines faced

unique cost challenges, particularly high operational costs, which were significantly higher than the global average.

The association cited examples, including fuel prices, which it said was 17 per cent higher than the global average, accounting for 40 per cent of operating costs in Africa, compared to 25 per cent globally (2024 data).

IATA identified other instances of the high cost of doing business in Africa to include taxes, fees and charges, which it said were 12-15 per cent higher than in other regions; air navigation charges (ANC): 10 per cent higher; maintenance, insurance, and cost of capital: 6-10 per cent more expensive.

It also stated that Africa currently accounted for 70 per cent of the global blocked funds at $919 million out of $1.28 billion.

In addition to the high cost of doing business, IATA regretted that Africa’s aviation market faced challenges of access restrictions, limited competition, and limited capacity. It said these were caused by policies and actions of governments of various states in the continent.

Countries in the continent introduced restrictive bilateral agreements, which limited competition, reduced route availability and kept fares high, IATA stated. It said this had constricted most African airlines and made them small operators with limited fleet sizes and route networks, lacking economies of scale that will lower costs and make them become more competitive.

IATA also said intra-African markets were relatively thin, with few airlines operating and with limited-service options, leading to higher fares.

Figures

It revealed that only 19 per cent of intra-African routes had direct flights, forcing passengers to take longer, costlier journeys.

To make the matter worse, IATA observed that there was slow implementation of African Union’s Yamoussoukro Decision (YD) and the Single African Air Transport Market (SAATM), which ought to liberalise and open the markets in the continent.

On visa access and openness, IATA stated that there was an indication that visa policy among African states had improved, but more could be done to improve connectivity and ease of travel. It stated that in 2024, four African countries – Benin, The Gambia, Rwanda, and Seychelles – adopted a policy, which offered visa-free entry to all African nationals.

she stated.

The statement added, “We took this action to prevent accidents, especially since any incident would affect the adjoining quays and facilities of other concessionaires.

“The NPA has a duty to ensure the safety of lives and properties on its facilities, and this was what it did with the decommissioning of the jetty based on the professional advice of the engineering department. “Contrary to BUA's claim that the former MD, against the advice of her agency, unilaterally decommissioned the berths... at no point did the management take any decision without the advice of the relevant department. For the records, even the termination notice issued to the company emanated from recommendations of the legal department of the NPA.”

NGO to Tinubu: Improve on Pension, Workers Welfare Policies, Food Security, Others

Rates president on key development indicators

The United Nations recognized non-governmental organization, Civil Society Organizations on Community Advancement and Humanitarian Empowerment Initiative (CSCHEI) has assessed President Bola Tinubu's performance since he assumed office two years ago.

CSCHEI noted that the government at the centre has done well in some thematic areas but it advised that there is need for an improvement in some areas such as pension, workers welfare policies, food security among others.

The group's Director General, Kunle Yusuff, who released the performance chart on Sunday, noted that the areas of assessment covered sectors, like Food Security and Agriculture, Education, Healthcare, Social Welfare, Economic Empowerment, Security, Climate Action, Urban and Housing, and Pension Policy and Workers Welfare.

In assessing Tinubu on education delivery, the group gave him 7/10 hinging it on the Student Loans Act 2024 and establishment of the Nigerian Education Loan Fund in Alignment

with SDG 4 (Quality Education). Yusuff noted that there's improvement in certain areas of education enrollment from 2022 to 2024, adding that pre-primary enrollment increased from 75.8 percent in 2022 to 77.4 percent in 2024 for children aged three to five years. Four-year-old, enrollment rose from 82 percent in 2022 to 83.3 percent in 2024.

CSCHEI noted that elementary education (six to14 years) enrollment rates remained above 95 percent for nearly two decades, with a slight increase in private school enrollment while for reading and arithmetic skills improvements was noted in government schools for children in elementary grades (Std I-VIII) since 2022.

For digital literacy, 62 percent of children aged 6-14 knew how to block or report a profile, and 55.2 percent knew how to make a profile private. The assessment however, observed that there's a decline in government school enrollment from 72.9 percent in 2022 to 66.8 percent in 2024. Just as the proportion of girls not enrolled increased slightly from 7.9 percent in 2022 to 8.1 percent in 2024.

Folalumi Alaran in Abuja

Author

Omokri, (L) in a handshake with President Bola Ahmed TInubu in Lagos, on Sunday

Eze

PRESENTING THE HISTORIC ENGINEERING AUDIT REPORT ON UPSTREAM MEASUREMENT EQUIPMENT...

L-R: The Chairman, PANA Holdings/Group Chief Executive Officer, PE Energy Limited, Dr. Daere Akobo, presenting the historic Engineering Audit Report on Upstream Measurement Equipment and Facilities in the Nigerian Oil & Gas Sector to the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engineer Gbenga

FG Signs N165bn Deals with 10 Firms to Boost Gas Infrastructure

The federal government has signed separate deals with 10 midstream oil and gas companies, leading to the release of over N165 billion in equity investments under the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to expand the country's gas infrastructure.

The fund is expected to deepen Nigeria’s gas value chain and will go directly to Original Equipment Manufacturers (OEMs), vetted by the MDGIF, to ensure strict compliance with standards and timelines.

At a formal signing ceremony in Abuja, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the event marked a key milestone in President Bola Tinubu’s agenda to unlock the full potential of Nigeria’s gas sector and strengthen the country’s position in the global energy transition programme.

“This is a resounding affirmation of the President’s visionary leadership

and dedication to building a resilient, gas-powered economy. With the inclusion of these 10 equity partners, we are injecting this vehicle with the fuel it needs; confidence, capital, and strategic collaboration.

“Pipelines laid, facilities commissioned, jobs created, and energy supplied to millions, let these be our collective measure of success.

We must act decisively and avoid business-as-usual delays," he said.

The MDGIF was established to promote strategic investments in midstream and downstream gas facilities and reduce the country's dependence on imported fuels.

The projects, spread across the six geopolitical zones form part of efforts to bridge critical infrastructure gaps in the gas value chain.

The equity partners will execute six gas processing plants, two of which will utilise flare gas, and three Compressed Natural Gas (CNG) refueling facilities. One is expected

NEFGAD: Lagos-Calabar Coastal Highway Unfinished, Unfit for Commissioning

The presentation of a 30-kilometre segment of the Lagos-Calabar Coastal Highway as a completed and commission-worthy project has drawn sharp criticism from NEFGAD, a leading public procurement advocacy group in Nigeria.

In a statement signed at the weekend by its country head of office, Mr. Akingunola Omoniyi, NEFGAD said it notes with deep concern that the Lagos-Calabar Coastal Highway is a 750-kilometre unbroken contract, meant to serve as a transformative infrastructure corridor across Nigeria’s coastal region.

To commission just 30 kilometres - barely 4% of the total project length - while the rest remains under construction is premature and misleading.

“We caution against the politicization of infrastructure delivery and stress that project commissioning should reflect substantive completion and usability of the project in its entirety or at least a major functional section.

Presenting a fraction as the whole not only misrepresents the scope of work but risks undermining public trust in government communication and performance metrics.”

The organisation urged the Minister of Work David Umahi to be mindful of the kind of precedent this action sets, insisting that: “If left unchecked, this could normalize the commissioning of uncompleted or partially completed projects across the country - turning what should be moments of national progress into mere photo opportunities and political theatre.”

The statement added: “The group says Mr. President should not be put under undue pressure of commissioning unfinished projects, maintaining that government is a continum, hence, Mr. Umahi should know that it is not possible for an administration to finish the business of government to the extent of thinking that all projects initiated must be completed during a tenure. President Tinubu himself met projects initiated by previous administrations, completed and inaugurated them.”

NEFGAD called on President Bola Tinubu to demand transparency and accountability in project delivery, noting that the people deserve full value for every public infrastructure initiativenot staged ceremonies that paper over incomplete work.

to deploy bulk Liquefied Petroleum Gas (LPG) storage infrastructure.

In all, they are expected to enhance domestic energy security, reduce gas flaring, and support Nigeria’s transition to cleaner fuels.

According to Ekpo, the initiative is more than just about infrastructure, but about building an inclusive, energy-secure future that empowers industries and creates jobs.

The beneficiaries of the N165 billion deal include: ANT Energy Ltd, Sub Sea 9 Gas, Wishnefisky Global, Waterdance Int’l Concepts,

Energy,

Integrated Services, Amari Energy Resources, VTT LNG West Africa, LNG Arete, and SSonic Petroleum. Ekpo added that the essence of the agreements was to accelerate gas infrastructure development and deliver tangible economic benefits across agriculture, manufacturing, transport, and more.

In his remarks, the Executive Director of the MDGIF, Oluwole Adama, described the agreement as a product of months of due diligence and strategic engagement

with prospective partners. He said the deals provided a structured framework for implementation, risk management, and returns on investment.

“The joint venture agreements— covering operations, equity, and financial accounts—are tailored to ensure transparency, efficiency, and long-term sustainability. This is not just about documents. It’s about building trust, partnerships, and tangible infrastructure," Adama said.

He noted that the benefits of the partnerships include access to capital, enhanced market positions, risk

sharing, and operational efficiency. The 10 projects are expected to generate jobs, drive industrial growth, and catalyse economic development across regions, while also strengthening Nigeria’s positioning in the evolving global energy landscape. Also speaking, Chairman of the Senate Committee on Gas, Jarigbe Jarigbe, who represented the leadership of the National Assembly, commended the MDGIF board and reaffirmed the legislature’s support for initiatives aimed at growing the gas economy.

2024: Access ARM Pensions Reports N28.2bn

Nume Ekeghe

Access ARM Pensions has posted strong full year results for 2024, reporting revenues of N28.2 billion, more than double the N12.3 billion recorded in 2023.

Pre-tax profit rose by 164 per cent to N15.2 billion, while post-tax profit surged by 187 per cent to N10.9 billion. Assets Under Management (AUM) also climbed to N3.5 trillion.

Despite macroeconomic headwinds, the company attributed its impressive performance to the disciplined execution of a well-structured post-merger integration plan, stronger investment capabilities, and an expanding service footprint.

Speaking at the annual general

Revenue, 187%

meeting (AGM) in Lagos over the weekend, Managing Director and Chief Executive Officer of Access ARM Pensions, Dave Uduanu, said: “Our 2024 performance was the result of a disciplined execution of a post-merger integration plan, deepening our investment capabilities, and leveraging technology to deliver better service at scale as revenue grew to N28.2 billion from N12.3 billion in 2023, and PAT rose to N10.9 billion, a testament to operational synergies and improved efficiency.”

According to Uduanu, the merger between Access Pensions and ARM Pensions created significant efficiencies that have translated into improved financial outcomes.

“We planned carefully for this

Surge in Profit

merger, engaging a world-class consulting firm, and preparing a comprehensive post-merger integration plan. Both the management team and the board have executed this plan flawlessly, and the results speak for themselves,” he said. Uduanu also disclosed that Access ARM Pensions made substantial investments in digital infrastructure and expanded its customer service footprint.

“We significantly enhanced our digital capabilities and opened new service centers to better serve our clients being that one of our key commitments during the merger was that no one would be left behind. We retained all the talent from both organizations and remain committed to developing and supporting our people,” he stated. He added that the outlook for 2025 is even more promising, saying: “As of now, our assets under management stand at N3.5 trillion, placing us among the top players in the industry. We expect significant growth this year, and the numbers you would see in 2025 will reflect the full benefits of a complete year of post-integration performance.

“Please note that the merger was consolidated in October, so the 2024 financials reflect only about 3 months of the combined entity's operations. We are confident that the 2025 results will reflect a full year of synergies and will show significantly better performance.”

Lafarge Stake Transfer: Senate Pledges Support for Genuine Foreign Investors

Sunday Aborisade in Abuja

The Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, has said the upper legislative chamber of the National Assembly was not opposed foreign investment in Nigeria.

Izunaso spoke against the backdrop that a Chinese firm had taken over the highest stake at the Lafarge Africa, a cement firm.

The Senate had summoned Lafarge to probe the announcement of Holcim’s plan to divest its 83.81% indirect stake in Lafarge Africa last week.

Izunaso said: “While we are still understanding the broader implications of the deal, we are not opposed to foreign investments that follow due process and contribute meaningfully to national development.

“We are not against foreign investors, our priority is to ensure that Nigeria’s strategic interests, workers' rights, and local investors are protected.”

The Senate’s final report on the matter, Izunaso said, is expected in the coming weeks as the committee continues consultations with regulatory agencies and stakeholders.

However, the cement firm has restated its commitment to Nigerians that the offshore transfer of shareholding from Swiss multinational, Holcim to China’s Huaxin Cement will bring substantial benefits to the Nigerian economy.

The company in a statement on Sunday, by its Head, Corporate Communications, Ginikanwa FrankDurugbor, addressed concerns over transparency, national sovereignty, and job losses in light of the transaction.

Lafarge Africa’s CEO, according to Lolu Alade-Akinyemi at the hearing, emphasized that the transaction is

an entirely offshore realignment. He said Holcim is transferring its 83.81% ownership in Lafarge Africa via an indirect transfer of foreign holding companies to Huaxin Cement.

He said: “Crucially, Holcim will retain a significant 41.81% interest in Huaxin, positioning it as the largest shareholder with ongoing governance rights and collaborative efforts.

“Our valued Nigerian public investors continue to hold 16.19% shareholding in Lafarge Africa during this transaction.

Komolafe FNSE in Abuja ... recently

Emmanuel Addeh in Abuja

Geospectra

Deemah

Michael Olugbode in Abuja

ACCOUNTING TO THE SHAREHOLDERS...

SERAP Sues NNPC Over Failure to Account for ‘Missing N500bn

Chuks Okocha in Abuja

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over the “failure to account for and explain the whereabouts of the alleged missing N500 billion, which the NNPCL failed to remit to the Federation Account between October 2024 and December 2024”.

The suit followed the recent allegations by the World Bank that out of the N1.1 trillion revenue from crude sales and other income in 2024, NNPCL only remitted N600 billion, leaving a deficit of N500 billion unaccounted for.

In response to SERAP’s Freedom of Information (FoI) request, NNPCL had claimed through its lawyers, Afe Babalola and Co, that the FoI Act did not apply to it.

But in the suit number FHC/L/ MSC/553/2025 filed last Friday at the Federal High Court in Lagos, SERAP sought, “An order of mandamus to direct and compel the NNPCL to account for the alleged missing N500 billion, which it allegedly failed to remit to the Federation Account between October 2024 and December 2024.”

SERAP also asked the court to “direct and compel the NNPCL to invite appropriate anticorruption agencies to investigate the spending and whereabouts of the said N500

billion and to ensure the prompt recovery and remittance of the money to the Federation Account”.

SERAP said the court should “direct and compel the NNPCL to identify those suspected to be responsible for the alleged missing oil funds, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies for investigation and prosecution”.

In the suit, SERAP argued, “The NNPCL has a responsibility to comply with the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the country’s international human rights and anticorruption obligations in the exercise of its statutory functions.”

The organisation also stated, “The missing oil revenues have further damaged the already precarious economy in the country and contributed to high levels of deficit spending by the government and the country’s crippling debt crisis.”

It further held, “The missing oil revenue reflects a failure of NNPCL accountability more generally and is directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability.”

SERAP said, “The Supreme Court in a ground-breaking judgement recently declared that the Freedom of Information Act ‘is applicable and applies to the public records in the

June 2 JUSUN Strike: Supreme Court, NJC, Federal High Court Pull Out

The Supreme Court of Nigeria as well as the National Judicial Council (NJC) and the Federal High Court (FHC), have pulled out of the industrial action called by the Judiciary Staff Union of Nigeria JUSUN.

Unions of the three bodies took the decision to withdraw from the strike scheduled for June 2, following what they described as the intervention of the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun.

Public Relations Officer (PRO), JUSUN, NJC Chapter, Mr. Joel Ebiloma, in a statement on Saturday hinted that a two-week grace was granted the authorities concerned to enable them put their house in order to meet their demands.

His words: "Having had several deliberations with the various stakeholders, NJC JUSUN is working round the clock to resolve all pending issues. In the aforesaid meetings that were held in the last 24 to 48 hours,

it was resolved that we give the Minister of Labour and other critical stakeholders two weeks, to solve the pending problems with the Office of the Accountant General of the Federation.

"In the light of the above, we wish to state clearly that the NJC JUSUN hereby direct all staff to come to the office on Monday. This is to allow the relevant stakeholders engage the necessary authorities to ensure that the Accountant General of the Federation releases the Statutory Allocations to the Judiciary based on the 2025 Appropriation in which the arrears Wage Award, minimum wage and the 25%/35% salary increase have been captured."

While saluting the patience, courage and understanding of all members in the struggle, he expressed belief that with the concerted effort and zeal shown by the Secretary of the NJC, Ahmed Gambo Saleh, "the required funds will be released within the stated time frame and all of us shall have a cause to smile following our collective victory.”

Federation’, including those kept by the NNPCL.”

The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Ms. Oluwakemi Oni, and Ms. Valentina Adegoke, read in part, “Nigerians continue to bear the brunt of these missing public funds from the NNPCL meant for the economic development of the country.

“There is a legitimate public interest in providing the details sought. The NNPC has a legal responsibility to account for and explain the whereabouts of the missing oil money.

“The country’s oil wealth ought to be used solely for the benefit of the Nigerian people, and for the sake of the present and future generations.

“Without the full recovery and

Blessing Ibunge in Port Harcourt

The Ugama Ekede, Ayama Ekede, Asukama, Asukoyet Host Community Development Trust (UAAA HCDT), in collaboration with Green Energy International Limited/ Lekoil & Gas Investment Limited Joint Venture (GEIL/LEKOIL JV), has successfully concluded a Petroleum Industry Act (PIA) awareness and peace-building campaign across its four host communities in Rivers State.

The week-long campaign was designed to deepen community understanding of the Petroleum Industry Act (PIA) 2021, promote inclusive engagement through the HCDT framework, and encourage community stakeholders to embrace

remittance of the missing N500 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”

SERAP also held, “Nigerians have the right to know why the NNPCL failed to remit the subsidy removal savings to the Federation Account, and why the NNPCL is deliberately denying states and local governments their allocations from the Account, contrary to the provisions of the Nigerian constitution.

“The failure by the NNPCL to remit the money to the Federation Account is a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s

anticorruption obligations.

“Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.

“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”

SERAP explained in the suit, “The Nigerian constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle

that citizens should have access to information regarding the spending of their commonwealth.

“The Auditor-General of the Federation and Nigeria Extractive Industries Transparency Initiative (NEITI) have for many years documented reports of disappearance of oil money from the NNPCL.

“The World Bank recently disclosed that out of the N1.1tn revenue from crude sales and other income in 2024, the NNPCL only remitted N600bn, leaving a deficit of N500bn unaccounted for.

“The revenue and other income were expected to be paid into the Federation Account and shared by all levels of government but the NNPCL reportedly failed to do so.”

peace, dialogue, and shared responsibility in pursuit of sustainable development.

Funded through the statutory 3% Operational Expenditure (OPEX) contribution by GEIL/ LEKOIL JV, as mandated by the PIA, the initiative reflects the Settlor's continued commitment to peace-building, inclusiveness, and long-term development in its Host Communities.

According to sources from GEIL/ LEKOIL JV, the campaign aligns with Nigeria Upstream Petroleum Regulatory Commission (NUPRC) directives and serves as a strategic follow-up to reinforcing the recent achievements in governance and infrastructure gains. It is also part of efforts to reinforce trust and foster

social cohesion.

“Through interactive sessions and community dialogue, the campaign sought to deepen mutual understanding, encourage peaceful coexistence, and ensure that all segments of the host communities are included in the development process,” the source added.

To ensure inclusivity and clarity, messages were delivered in the communities’ native dialects and Pidgin English, enhancing participation and understanding across all groups.

Participants at the events included traditional rulers, youth leaders, women’s groups, children, and persons living with disabilities (PWDs), among others.

Speaking at Asukama on the opening day, Asuk Nathan Sampson,

Chairman of the UAAA HCDT, explained the rationale behind the campaign.

Sampson said: “The purpose is to enlighten community members about the provisions of the PIA, particularly Chapter 3, which defines the relationship between settlors and host communities. By law, 3% of settlors’ OPEX is allocated to host communities for development.

“In return, host communities are expected to provide an enabling environment for the settlors to operate unhindered. This reciprocal understanding is vital to our progress.” He commended GEIL/LEKOIL JV for fulfilling their obligations and acknowledged that previous issues were resolved internally without disrupting operations.

FG to Begin Campaign to Enroll All Civil Servants into NSITF Scheme

Onyebuchi Ezigbo in Abuja

The federal government through the Office Head of the Federal Civil Service and Nigeria Social Insurance Trust Fund (NSITF) is to embark on Service-wide sensitization of civil servants in furtherance of the implementation of the Employees’ Compensation Scheme in the Federal civil service

A statement by the Nigeria Social Insurance Trust Fund (NSITF) said it is commencing a sensitization campaign for federal civil servants in line with the Federal Civil Service Strategy and Implementation Plan

2025.

The Managing Director of NSITF had led his team to the office of the Federal Head of Service to kickstart the sensitization campaign last week, Thursday.

While welcoming the team, the Head of the Federal Civil Service, Mrs. Esther Walson-Jack, pledged her unflinching support to the NSITF to ensure that all workers in the public sector benefit from the scheme. She said her office is committed to working with the NSITF as it embarks on the sensitization campaign across the service.

On his part, Faleye lauded the

welfare-centered initiatives of the Head of Service and mentioned that the privileged opportunity to serve in the Head of Service Committee for the Federal Civil Service Strategy and Implementation Plan 2025 (FCSSIP2025), reinforced his commitment to ensure the implementation of the ECS in the Federal civil service.

He pointed out that while other committee members were talking about housing, health and related issues, NSITF stayed on its core mandate, focusing on surmounting the barriers to the service-wide implementation of the Employees’

Compensation Scheme in the Federal civil service in particular with the desired outcome being to enhance the social protection available to federal civil servants.

Faleye said: “We felt that what was key for us as we shared ideas and discussed initiatives during the strategy sessions we had under the auspices of the FCSSIP2025 was how to sustainably implement and deepen initiatives that were already available but not implemented and ensure that those welfare initiatives are implemented for the benefit of workers in terms of their welfare and social security.

Alex Enumah in Abuja

ARM Pensions, Mr. Aliyu Yar'Adua; Managing Director/Chief Executive Officer, Emenike Dave Uduanu; Chairman, Mr. Gbenga Oyebode; Acting Group CEO, Access Holdings, Ms. Bolaji Agbede; Company Secretary, Access ARM Pensions, Mrs. Mojisola Oyewole, and Shareholder, Mr. Obinna Anyanwu, at the Access ARM Pensions annual general meeting in Lagos…recently

THANKSGIVING MASS TO COMMEMORATE MBAH’S 2ND ANNIVERSARY...

Afenifere: Tinubu Has Failed Nigerians Abysmally

Chuks Okocha in Abuja

Afenifere, yesterday, knocked President Bola Tinubu on the occasion of his second year in office, saying his renewed hope has turned into a nightmare for Nigerians.

Afenifere, in a statement by its Leader and National Publicity Secretary, Oba Oladipo Olaitan and Justice Faloye, said the midterm report of the Tinubu administration

has shown that every human development and socio-political index had regressed. It also accused the administration of engaging in “massive propaganda claiming false successes.”

The statement read: “The Midterm Report shows that every human development and sociopolitical index has regressed since the coming to office of the President Bola Tinubu administration, turning the promise of renewed hope to a nightmare of

regressing hopelessness and despair.

“Rather than take full responsibility for the unmitigated sufferings inflicted on Nigerians in the past two years on account of its wrong policy choices and wasteful spending, the Tinubu administration has engaged in massive propaganda claiming false successes and shifting blame to global and historical factors, and showing scant empathy for ordinary Nigerians.

“Basically, due to unforced

errors, especially the oversight of the production element of subsidies and floating the Naira, without any preparation to cushion the predictable impact, the Tinubu Economic Reforms has turned out to be Tinubu Economic Deforms.

“A Prebendal Government for the privileged and connected. Despite the Tinubu administration’s economic policies causing huge inflation that cut real wages in over half, only 4.1% of the Nigeria population in

Unlawful Detention: Legal Practitioners Urge Law Enforcement Agencies to Expedite Action

Kuni Tyessi in Abuja

In the face of rising unlawful detention within and around the country, legal practitioners have raised the alarm and are calling on law enforcement agencies to expedite action and stem the tide.

Stating that law enforcement agencies and other security organizations have constitutional responsibility to protect lives and properties, they said changing Special Anti-Robbery Squad, SARS to Intelligence Response Team, IRT, is mere cosmetic and has not changed the notorious practice of the operatives in right abuses.

Principal partner of Koyen-Hi Kebonkwu Chambers, Mike Kebonkwu who spoke during a

press briefing in Abuja said the widespread practice amongst security agencies operating in a gestapo style to arrest and bring suspects to Abuja and dump in cells under dehumanizing conditions is unacceptable.

He emphasized that unlawful arrest is a serious violation of human rights and fundamental principles of justice which is a pervasive practice where citizens are detained without due process or justifiable reasons.

He said for this reason, the government and authorities concerned should not pretend that such abuses do not exist or gloss over it as that will be a recipe for disaster in the event of violent protest or riot.

Furthermore, he said there's the need to investigate all

allegations of unlawful detention and bring the perpetrators to justice, as well as ensure that all detainees are treated in accordance with the due process of law.

Others include: "Establish an independent review mechanism to monitor and oversee law enforcement agencies. Activities of the IRT should be audited as it has taken the visor of SARS.

"The unlawful detention of citizens by law enforcement agencies is a grave concern that requires immediate action. The irreducible minimum demand is that rights of citizens must be respected even when being investigated."

"It has metamorphosed into the disbanded dreaded Special Anti-Robbery Squads (SARS)

operating without supervision or control. Their operations are not intelligence driven in any sense of the word.

"It has become necessary to draw attention of stakeholders and general public in order to stem this ugly development of impunity and arrogance display of power by security agents.

The practice involves detaining individuals without charge and beyond constitutional limit without the order of court and without charges."

He also added: "We recognize the rights and duties of the law enforcement agencies to carry out their constitutional duties but it must be carried out in accordance with the law and due process in a professional manner."

Mangal Cement Reiterates Commitment to Consistent Quality Product Delivery

Indigenous firm and manufacturer of Mangal Cement, Mangal Industries Ltd has reiterated its commitment to delivering high-quality and innovative cement solutions to Nigerians.

General Manager, Sales and Marketing of the company, GoriolaOduguwa Omowunmi made this known during an annual Stakeholders forum with the theme: “Building Stronger Partnership: Quality-Driven Solutions and Value for Money.” Mangal Industries, owned by Katsina-born tycoon, Dahiru Barau Mangal CON, has its cement production plant, worth over

$1.5 billion, in Moba, Kogi State. Recall that Mangal Industries, had signed a $600m deal with Sinoma International Engineering of China for the construction of a 3 million metric tonne per annum cement plant and 50 MW captive power plant in Kogi State.

In her address, Omowunmi said that the forum was intended to, among other things, strengthen collaboration with end users across the country and to also provide a platform where the company can reaffirm its commitment to delivering high-quality, innovative cement solutions.

She stated that as a fast-growing force in Nigeria's cement industry,

Mangal Industries Ltd continues to operate with a clear vision which is to become one of the world's leading cement producers through efficiency, Innovation, and customer-centricity.

She noted that the forum, held In collaboration with the Industrial Training Fund (ITF) and the Standards Organisation of Nigeria (SON), Is also intended to train users on standards and best practices, ensuring safer and more efficient construction outcomes.

“This forum brings together key Industry stakeholders, end users, regulators, and technical experts to engage in productive dialogue and knowledge-sharing around quality, standards, and performance in cement

manufacturing and application,” she said.

Earlier, Quality Control and Assurance Manager, Mangal Cement, Engr. Ibrahim Bappa-Uba maintained that its mission is to produce superior products that not only meet customer needs but also drive national development through job creation and wealth generation.

“We have come to gather valuable feedback that will be fed forward into product improvement and customer support Initiatives, " he said. "Mangal Industries Ltd remains committed to delivering Ultra Strength, Ultra Yield, and Ultra Setting Time in every bag of cement we produce".

the civil service had their wages increased by 38%.

“Reliance on unproven channels for the distribution of pitiable halfhearted food and other palliatives were corruptly split among those connected, while uncontested mega projects were brazenly given to those with well known connections to the president.

“It is obvious that the Tinubu administration has no intention of delivering the greatest good for the greatest number of Nigerians.

“Two years into its tenure, and contrary to its well-advertised electoral promise, the Tinubu administration is yet to implement Oronsaye Report to cut cost of governance, instead the costs have ballooned with new cost centers for cronies to milk.

''The tone of government at all levels is one of profligate ‘jaiye jaiye’ lifestyle, while the masses are being berated about Nigeria’s wasteful past and the imperative of sacrifice to restore fiscal integrity.

“The government’s first supplementary budget and subsequent budgets were spent on

David-Chyddy Eleke in Awka

Wife of the governor of Anambra State, Mrs. Nonye Soludo, has distributed financial empowerment to 1,085 women of Dunukofia Local Government Area of the state.

The women who are mostly petty traders, also known as Ndi Afia Table - because their businesses are usually done on tables in open stalls, were empowered to help them expand their businesses.

Mrs. Soludo while speaking to the beneficiaries at Dunukofia Local Government Secretariat insisted that women are the pillars of the family, and bear the bigger brunt of financial pressure in their homes.

She said: "The idea of this empowerment programme is to support your business, so that you can do better and support your families.

"We know that most of you are petty traders, but if you apply the funds we are giving you now to your business and apply due diligence, you will excel.

"You can also build a relationship with the people who supply goods

not only preserving but increasing the luxurious lifestyle of those in government – new Presidential jet, Cadillac limousines, N160 million cars for each federal legislator and scandalous increase in unaccounted constituency projects worth billions to each legislator.

“In the quest for absolute power, the Tinubu administration is trading off lives of Nigerians by refusing to devolve power for state police. The Tinubu administration is destructuring instead of restructuring the military-imposed constitution, towards true federalism.

“It has shown increasingly centralising tendencies to further weaken the federalist elements in the constitution by attacking federating units with the takeover of their administrative units, known as local governments.

“Tinubu is destructuring the pillars of our democracy by neutralising the legislature and judiciary put in place for balance of power and robust representative governance. It is obvious that the agenda is a one party state totalitarianism.”

to you, such that they can be giving you on the condition that when you sell and pay to them. If you're honest, they will trust you and you can use the opportunity to expand your business," she said.

Mrs. Soludo said the event was done in collaboration with renowned oil magnate, Prince Arthur Eze and Jim Martin Nwabueze, who provided the funds for the empowerment.

She thanked them for thinking towards humanity and for providing solutions to economic sustainability of poor homes in the LGA. She said the state also runs similar economic empowerment opportunities through the Anambra Small Business Agency (ASBA).

She said the opportunities are open to small and medium scale business cooperative groups in the form of low-interest business and agricultural loans/grants.

"We urge you to capitalize on the opportunities provided by ASBA to also boost your businesses, as the agency is open and ready to assist any organized cooperative groups ready to come in."

Gideon Arinze in Enugu

L–R: Chaplain, Government House, Enugu, Rev. Fr. Anthony Ude; Former Governor of Enugu State, Barr. Sullivan Chime; Bishop, Catholic Diocese of Enugu, Most Rev. Calistus Onaga; Governor of Enugu State, Dr. Peter Mbah; Deputy Governor, Barr. Ifeanyi Ossai; Auxiliary Bishop, Catholic Diocese of Enugu, Most Rev. Ernest Ogbodo; Former Governor of Enugu State, Hon. Ifeanyi Ugwuanyi; and Rev. Fr. John Amadi, during a thanksgiving mass at the Government House Chapel, Enugu, to commemorate Governor Mbah’s 2nd anniversary in office

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Meet the Board Of Directors

Avisionary leader and a financial architect, Chuka Onwuchekwa embodies the fusion of strategic entrepreneurial excellence, and a relentless drive for innovation With an illustrious career spanning investment and commercial banking, f inancial consulting, leasing, and agribusiness, he has solidif ied his reputation as a dynamic force in Nigeria’s economic landscape Chuks’ passion for building world-class f inancial institutions led to the creation of Aquila Capital Limited, a pioneering equipment f inancing, fleet management, and logistics enterprise As the Founder and Managing Director/CEO, he transfor med Aquila Capital into a powerhouse, attracting substantial local and foreign investment and spanning a portfolio of thriving businesses

His leadership has been instrumental in reshaping f inancial solutions across Africa, reinforcing his status as a transfor mative business strategist Before Aquila Capital, Chuks played a pivotal role in banking and f inancial restructuring As Executive Director/COO at Continental Trust Bank Limited (one of the legacy banks of UBA Plc), he drove operational excellence and strategic expansion His expertise as Managing Director/CEO of Corporate Remedies Limited further cemented his ability to engineer business turnarounds and drive prof itability His global influence was underscored by his tenure in Namibia, where he was instrumental in establishing City Savings & Investment Bank Limited, ushering in a new era of indigenous banking in post-independence Namibia An alumnus of the University of Nigeria, Nsukka, and the University of Lagos, Chuks’ academic brilliance is underscored by multiple accolades, including the Best Graduating Student award for both his B Agric and M Sc degrees

Further ref ining his leadership acumen, he is an alumnus of IMD, Lausanne, Switzerland As Chair man of Citizens Pensions, Chuks brings a wealth of expertise, strategic agility, and an unwavering commitment to f inancial empower ment His leadership is not just about business, it is about legacy, impact, and the transfor mation of Nigeria’s f inancial future

Helen Da-Souza Managing Director/CEO

Helen Da-Souza is a powerhouse of leadership, f inancial expertise, and strategic vision, with an illustrious 37-

37year career spanning accounting, f inancial services, and corporate governance She is a distinguished Chartered Accountant; member Of both the Institute Of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute Of Taxation Of Nigeria (CITN) and has left an

Citizens Pensions Limited

indelible mark across multiple sectors, including banking, manufacturing, oil & gas, consulting, and pension fund administration

Currently serving as the Managing Director of Citizens Pensions, Helen is the epitome of transfor mational leadership Previously, as the Managing Director/Chief Executive Off icer of Trustfund Pensions Limited, she spearheaded unprecedented f inancial growth, catapulting the company ’ s Legacy Funds from ₦70 26 billion to ₦132 68 billion and increasing its Funds Under Management (FUM) from ₦200 billion to ₦720 billion

Helen’s exceptional career is underpinned by world-class education from some of the most prestigious institutions globally She has honed her leadership and f inancial acumen through executive programs at Harvard Business School, Wharton Business School, Columbia Business School, and Cambridge Judge Business School

These experiences have fortif ied her expertise in f inancial strategy, corporate governance, and organizational transfor mation, enabling her to drive impactful results at the highest levels of corporate leadership

A visionary leader, Helen has built and nurtured high-perfor ming teams, ensuring the seamless integration of compliance, risk management, and f iscal discipline She has redef ined leadership excellence, shaping corporate policies, optimizing operational eff iciency, and cultivating a culture of innovation and accountability Under her stewardship, hundreds of thousands of pension contributors have witnessed tangible value growth, reinforcing her legacy as a trusted custodian of f inancial security Helen’s leadership philosophy is rooted in excellence, ethics, and empower ment

Whether advising boardrooms or shaping industry policies, she remains a force of nature in f inancial strategy, stakeholder engagement, and corporate governance A mentor, a trailblazer, and a transfor mative thinker, Helen Da-Souza is navigating the future of f inancial leadership in Nigeria and beyond

Dr Oluwatoyin Madein is a transfor mational leader whose storied career in public f inance management, spanning over 35 years, has made indelible marks on Nigeria’s f iscal governance landscape

As the f irst female Accountant-General of the Federation, she broke a historic ceiling and has since continued to model excellence, integrity, and innovation at the highest levels of public service

A f inancial strategist with deep expertise in accounting, auditing, tax planning, and f inancial engineering, Dr Madein has championed landmark refor ms that have enhanced transparency, eff iciency, and accountability in public sector f inance Under her stewardship, the digitalization of Treasury operations, the modernization of the Treasury House, and the implementation of GIFMIS (Government Integrated Financial and Management Infor mation System) signif icantly redef ined the management of Nigeria’s public resources Her visionary leadership was instrumental in increasing revenue generation through policy frameworks such as automated deductions in IGR and comprehensive f iscal

policy refor ms She also led the revival of the Board of the Federal Treasury Academy and initiated the Draft Public Finance Management Bill, 2024, a bold step toward f iscal modernization

Dr Madein holds a PhD in Management from Walden University, USA, alongside fellowships from ACCA (UK), ICAN, ANAN, and FCNA, reflecting her global and national credibility Her board experience spans critical sectors including the Central Bank of Nigeria, Transcorp Hilton, and Eswatini Royal Sugar Company where she offers strategic governance insights

An inductee into the Nigerian Women’s Hall of Fame and recipient of numerous national and international awards, Dr Madein is a passionate advocate for capacity building, gender inclusion, and sustainable institutional refor ms

At Citizens Pensions, she brings rare depth, f ierce competence, and a purpose-driven mindset to strengthen the company ’ s governance and deliver long-ter m value to stakeholders

Aleader, strategic thinker, and an accomplished security expert, Zubairu H Muazu brings an unparalleled depth of experience in governance, anti-corruption, and strategic risk management to the board of Citizens Pensions With a distinguished career spanning over three decades in law enforcement, counter-terrorism, and f inancial crime investigation, his expertise is instrumental in fostering transparency, security, and ethical governance in the f inancial sector

As a retired Assistant Inspector General of Police, Zubairu Muazu has demonstrated exceptional leadership in the most demanding security environments His tenure as the Commissioner of Police in Lagos State, Nigeria’s economic nerve center, saw him effectively manage law enforcement for over 22 million people His leadership at the Economic and Financial Crimes Commission (EFCC) and the Special Fraud Unit positioned him as a key f igure in Nigeria’s f ight against corruption, f inancial crimes, and cyber threats

Beyond policing, he has made indelible contributions to institutional refor ms, working with the Centre for Fiscal Transparency and Integrity Watch to enhance Nigeria’s anticorruption framework His work with international bodies, including the United Nations Missions in Kosovo and BosniaHerzegovina, underscores his commitment to global best practices in governance and security

An alumnus of Ahmadu Bello University, the University of Lagos, and the National Institute for Policy and Strategic Studies (NIPSS), Zubairu Muazu is a Fellow of the Nigeria Institute of Management and a member of esteemed professional bodies, including the Association of Certif ied Fraud Examiners (ACFE) His strategic acumen, integrity, and unwavering commitment to ethical leadership make him a critical asset to Citizens Pensions, ensuring the company upholds the highest standards of corporate governance, risk management and stakeholder trust

Dr (Mrs ) Margaret O Obono – Non-Executive Director

Adistinguished healthcare leader and an unwavering advocate for excellence, Dr (Mrs ) Margaret O Obono brings over 35 years of transformative impact in the pharmaceutical and healthcare Sectors Her stellar career, marked by visionary leadership and groundbreaking innovations, underscores her deep commitment to improving healthcare systems and empowering the next generation of professionals

As a former Director of Pharmacy at the National Orthopaedic Hospital, Lagos, Dr Obono redefined pharmaceutical practice, leading one of the most successful Drug Revolving Fund (DRF) schemes in Nigeria, a programme recognized as the nation's best in 2015 Under her stewardship, the proceeds Of this initiative financed the construction of a three-storey building, demonstrating her exceptional financial acumen and resourcefulness

A mentor and educator at heart, she has shaped the careers of over 200 intern pharmacists and supervised more than 50 postgraduate dissertations, leaving an indelible mark on Nigeria's healthcare landscape Her influence extends beyond the hospital walls As Chairman of the West African Postgraduate College of Pharmacists (WAPCP), Nigeria chapter, she contlnues to champion professional excellence and policy advocacy A seasoned board leader, she has served on various strategic committees, leveraging her expertise in governance, finance, and strategic planning to drive sustainable growth

A recipient of numerous prestigious awards, including the Pharmaceutical Society of Nigeria Fellowship and the May & Baker Award for Professional Excellence, Dr Obono embodies the highest standards of service, innovation, and leadership As a NonExecutive Director at Citizens Pensions, her wealth of experience and strategic foresight will play a pivotal role in navigating the future of pension management, ensuring financial security for millions Of Nigerians

– Independent Non-Executive Director

Titilola Ogunbanjo is an accomplished boardroom strategist, investor, and stakeholder relations expert whose leadership over the past 25 years has bridged the worlds of energy, f inance, innovation, and public affairs Her appointment as an Independent NonExecutive Director of Citizens Pensions brings deep credibility, bold vision, and a resolute to governance, transparency, and sustainable value creation Currently, Chair man of Lakeland Explora-

Chuka S Onwuchekwa Chair man

Dr Oluwatoyin Madein, PhD, FCCA – Independent Non-Executive Director

Zubairu H Muazu, FNIM, mni – Independent Non-Executive Director

Titilola Ogunbanjo

MONDAY JUNE 2, 2025 • THISDAY

tion and Turnbull Investments, she has led strategic investments across oil & gas, tech startups, public equities, and fixed income, most notably Turnbull’s early-stage investment in Sliide, now a $400M UK tech Company Her board influence extends to West African Offshore Limited, where she drives growth through innovation and cross-border partnerships in West Africa’s oil sector

Titilola’s career foundation was forged at ExxonMobil Nigeria, where as Head of Stakeholder Engagement, she built high-impact relationships with regulators, governments, and communities, shaping CSR and ESG strategies that earned institutional recognition for transparency and community impact

An astute legal mind with an LL B from the University of Buckingham and the Nigerian Law School, she champions corporate ethics, compliance, and inclusive leadership Her entrepreneurial spirit was showcased through Day Spa Limited, where she revolutionized wellness hospitality in Nigeria, demonstrating that vision, excellence, and innovation transcend sectors

Titilola Ogunbanjo brings more than experience, she brings perspective She embodies the values of Citizens Pensions Her voice on the Board is not only one of oversight but of purpose, shaping retirement futures of Nigerians through sound governance and progressive thinking

Smanagement, business development, revenue generation, and human capital development

Known for driving organizational growth and operational excellence, Susan has consistently led organizations toward profitability and sustained success Currently serving as the Executive Director of Citizens Pensions Limited, Susan specializes in Business strategy execution, and innovative client relations Her leadership aligns with the company ’ s mission to provide secure and prosperous retirement solutions, empowering Nigerians with financial peace of mind

Before joining Citizens Pensions, Susan was the Chief Operating Officer at Canistel Limited, where she led the company ’ s growth from inception, building a motivated team and increasing annual revenue She also served as Head of Treasury Marketing at First Marina Trust Finance Company Limited, developing financial products that enhanced customer acquisition and retention

Susan holds degrees from the University of Lagos, Lagos State University, and the Institute of Management and Technology Enugu She further honed her leadership skills with advanced courses at the Lagos Business School

With an MBA in Marketing, Susan is dedicated to fostering innovation, accountability, and longterm financial security for Citizens Pensions clients

With over 32 years of trailblazing experience in Nigeria's f inancial sector, Mr

transformation His career is defined by a resolute commitment to institutional growth, financial empowerment, and the pursuit of excellence As a Non-Executive Director at Citizens Pensions, he infuses the organization with unparalleled expertise in corporate governance, regulatory strategy, and dynamic decision-making, ensuring that Nigerians retire with dignity and securiw

Mr Okwara's leadership is shaped by innovation, efficiency, and an unwavering focus on results At FinBank Plc, he was instrumental in redefining financial strategy, spearheading models that expanded assets and boosted profitability across Nigeria and West Africa His role in the successful recapitalization and merger of financial institutions underscores his precision in navigating complex financial landscapes with foresight and tenacity

Beyond the boardroom, Mr Okwara is a passionate advocate for financial inclusion He believes that true economic progress is built on empowering individuals and businesses with accessible, sustainable financl"al solutions A master strategist and seasoned negotiator, Mr Okwara has played a pivotal role in institutional governance, stakeholder engagement, and dispute resolution His visionary leadership extends beyond Nigeria, driving crossborder financial innovation, including the acquisition of The Gambia's first Islamic banking franchise

An Honorary Senior Member of the Chartered Institute of Bankers of Nigeria, Mr Olovara has refined his expertise through executive programs at the Lagos Business School and esteemed global financial institutions His experience, coupled with a commitment to corporate excellence, makes him a cornerstone in Citizens Pensions' mission to redefine retiremen planning and financial security in Nigeria

A firm believer in mentorship and sustainable growth, he is dedicated to shaping the future of finance by fostering stability, innovation, and longterm impact At Citizens Pensions, his mission is clear to ensure every Nigerian enjoys a financially secure and dignified retirement, where prosperity is not just a possibility, but a promis& fulfilled

Citizens Pensions Limited is a fast-growing Pension Fund Administrator licensed by the National Pension Commission (PenCom) in February 2025, under the provisions of the Pension Reform Act, 2014 (as amended) The company was incorporated in October 2023 and is backed by a strong financial foundation, with shareholders' funds in excess of C] 6 billion as of December 31, 2024

Citizens Pensions mission is to provide retirement solutions that empower individuals and institutions to achieve their long-term financial goals, ensuring a comfortable and dignified retirement for all

James O Okwara – Non-Executive Director

Susan Onoriobe -Executive Director, Business Development

James O Okwara is

usan Onoriobe is a results-driven leader and seasoned business strategist with over two decades of experience in fund more than leader, he is very strong on

LAUNCH OF ILERA-EKO BIOMETRIC CARD READERS...

Wabara to N'Assembly: Our Democracy Under State Capture, Rise Up to Challenge

Says legalising electronic transmission of votes, BIVAS are germane

Ugwu-Nwogo

The Chairman of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Senator Aldophus Wabara, has called on the National Assembly to rise up to the challenge of saving Nigeria's democracy because it was currently under state capture. He said the federal legislature

should leverage its constitutional role of lawmaking and make compulsory the use of the Bimodal Voters Accreditation System (BIVAS) and electronic transmission of election results.

The former Senate President made the call in a message he issued to mark his 77th birthday anniversary, yesterday, Sunday June 1, 2025.

Wabara insisted that with

legally-manadated use of BIVAS and elecrronic transmission of poll results, the 2027 general election would be fraud-free and truly reflect the will of the suffering Nigerian masses. He warned that anti-democratic forces were at work and hell bent on converting Nigeria to a one-party state, saying the potent weapon to checkmate them was through a credible transparent

election come 2027. According to him, "Democracy in Nigeria is under state capture hence the need to weep out the forces threatening the sustainability of the prevailing multiparty system of government.”

He stated that a one-party Nigeria portended grave danger because it would pave the way for the emergence of a hydra-headed tyrant.

Gombe Explores Partnership with NBRRI to Boost Infrastructure with Homegrown, Cost-effective Technologies

Segun Awofadeji in Gombe

Governor Muhammadu Inuwa Yahaya of Gombe State has received the Director-General and Chief Executive Officer of the Nigerian Building and Road Research Institute (NBRRI), Professor Samson Duna, at the Government House, as part of efforts to deepen collaboration for infrastructural development using indigenous, cost-effective technologies.

During the meeting weekend, Governor Inuwa Yahaya expressed appreciation to NBRRI for supporting his administration’s development drive, particularly the construction of a modern security outpost at the new Mile 3 along the Gombe-Yola Road.

He described the building as “a masterpiece and an edifice that will stand the test of time,” lauding its quality, durability, and design which is reflective of the institute’s expertise.

“As the beneficiaries and custodians of this structure, the Government of Gombe State will ensure its proper maintenance and use for the intended purpose,” the governor affirmed, He directed the structure be handed over to the Nigeria Security and Civil Defence Corps (NSCDC) to help strengthen security in the area.

The governor disclosed plans to work with NBRRI to transform historical monuments in Gombe into museums using the institute’s unique, homegrown building technologies.

He described Professor Duna as a performer who has brought innovation and excellence to the institute.

The governor urged him to sustain the momentum and continue championing transformative projects that are in line with national development goals.

Earlier, Professor Duna gave an overview of the institute’s mandate and accomplishments, noting that NBRRI’s building technology relies entirely on locally sourced materials.

This, he said, makes their designs not only affordable but also environmentally adaptive, adding: “Our buildings are fully constructed using local materials, which significantly reduces costs. They are also naturally climate-regulating;

cooler indoors during hot seasons and warmer in colder conditions.”

He highlighted the activities of the Gombe Zonal Office of NBRRI, which services the entire North-East subregion, and commended Governor Inuwa Yahaya for facilitating the establishment of a permanent zonal centre in Gombe.

According to him, a plot of land was allocated by the state and a three-storey structure built to house the centre.

The NBRRI DG also noted the institute’s ongoing construction of an Artisan Centre at the Federal College of Education (FCE), Gombe, envisioned as a one-stop hub for skilled labour development in the building industry.

Patience Jonathan Bags Doctoral Degree, Says Academic Dream Achievable at Any Age

Chuks Okocha in Abuja

Former President Goodluck Jonathan's wife, Dame Patience Jonathan, has counselled Nigerian women and youths on the benefit of continuous learning, stressing that no time is too late to achieve one’s academic dream.

The former first lady who noted that quality education enhances and ensures a better society stated this at the 43rd Post Graduate Ceremony of Ignatius Ajuru University of Education where she bagged the Doctor of Philosophy in Psychology,

Guidance And Counselling.

In a statement by her media aide, Chris Okeke, Dr. Jonathan said further: “I feel that no age is too late to achieve your academic dreams, whether you are young or old. If I can do it, you can also do it. I believe that even in retirement, you are not too old to go back to school because education provides the opportunity for one to always refresh his or her brain and learn new things.

“Let me use this opportunity to encourage Nigerian women and the

youth to aspire to become the best of themselves through qualitative education.”

The former first lady who dedicated the accomplishment to Nigerian women vowed to continue with more determination and vigour, the campaign for the upliftment of the vulnerable members of the society, especially women, children and the youth. She stressed she would devote a good part of her time towards advancing the cause of women and promoting dialogue in the bid to

make the society better.

On her motivation and tenacity in embarking on the programme, she said: “First of all, l am very grateful to the Almighty God who has made today a reality. He saw me through the programme so l am very happy today.

“I also thank my family sincerely, especially my lovely husband, His Excellency Dr Goodluck Ebele Jonathan, former President of the Federal Republic of Nigeria, for all his support and very useful suggestions.

The PDP BoT Chairman also warned against suppression of opposition voices, saying "leaders become tyrants in the absence of vocal patriots, who can stand with the people and point at the right direction.

"Suppression of dissenting voices and the opposition in Nigeria was becoming worrisome,” adding that there was no way democracy could thrive in a political environment that lacked credible opposition.

He, however, encouraged the opposition parties to remain undaunted in playing their roles, and resist any attempt to gag them.

He said the APC-controlled federal government has no choice but to listen and hear the opposition voice, adding that a truly democratic government was measured by the extent to which it could tolerate dissenting voices.

Wabara has consistently been advocating the survival of Nigeria’s democracy and warning

the ruling All Progressives Congress (APC) against antidemocratic tendencies.

He said getting older would not make him keep quiet, change tune and stop speaking truth to power, thereby abandoning being on the side of the Nigerian people.

"Anyone at my age and still afraid of speaking the truth without fear or favour, is a complete disappointment to his generation. Any nation without courageous men who can boldly speak truth to power is doomed," he said.

Wabara, who hails from Ohambele in Ukwa East Local Government or Abia State, was born on June 1, 1948, in Port Harcourt, the capital city of present Rivers State. He said that God has been merciful to him and preserved his life to attain his new age of 77 years, and pledged that he would continue to devote the rest of his life to the service of God and humanity.

‘Women Writers Act as Mediators Between Tradition, Transformation’

Ibrahim Oyewale in Lokoja

A female varsity don, Professor Ofure Aito, has described post-colonial African women writers as builders of their own rooms in which silence is broken, taboos are confronted, and new cultural possibilities are imagined.

According to her, "many women writers act as mediators between tradition and transformation, between inherited norms and emergent realities. In this role, they do not always take oppositional stances.

Aito who is a professor of English and Literary Studies made this known while speaking as the a lecturer of the Federal University, Lokoja, 27th inaugural lecture titled: "Navigating a Room of Her Own: Women Writing Dynamics of Culture and Politics of Identity,” at the Auditorium of Adankolo Campus, weekend.

Her words: "Rather, they often write from within the cultural space to negotiate meaning and power. In doing so, they reframe traditional narratives and forge new ones, offering alternative models of womanhood.

"To explain Diaspora, Migration, and Cultural Hybridity in women’s writing as they navigate their gender space, Homi Bhabha’s ‘The Location of Culture’ is foundational in postcolonial theory, especially, his concepts of hybridity, third space, and cultural negotiation. These ideas help us grasp how identities are formed, transformed, and lived in transnational and diasporic contexts.

"Diaspora involves the movement or scattering of people from their original homelands, often due to colonization, slavery, economic pressures, or war. In ‘The Location of Culture’, Bhabha emphasizes that identity is not a static essence but a process of becoming - formed through history, memory, and experience.

"The contemporary world is increasingly shaped by instabilitypolitical violence, economic collapse, climate change, pandemics. In a world where many official histories are sanitized or manipulated, women’s writing becomes a counter-archive - bearing witness to the unspoken and unacknowledged.

Emmanuel

in Umuahia

L-R: Supervisor, Lagos Division of Lagos State Residents Registration Agency (LASRRA), Hadiza Omoyele-Abdul-salam; Representative of the Permanent Secretary, Lagos State Health Management Agency (LASHMA), Mr. Tosin Awosika; Clinical Director, St. Nicholas Hospital, Dr. Ebun Bamgboye; and Head, ICT, LASHMA, Mr. Sefiu Oladejo, at the Official Launch of the Deployment of Ilera-Eko Biometric Card Readers at St. Nicholas Hospital in Lagos ... recently

STATE OF THE ENVIRONMENT...

Commissioner for The

and

My Family is Intact, Akwa Ibom Gov, Eno Responds to Trending Social Media Video

Okon Bassey in Uyo Akwa Ibom State Governor, Umo Eno, has reacted to a trending video about his family on the social media, assuring his people that he remained focused on his mission to move the State forward.

Eno expressed dismay that people could resurrect the video of an incident that occurred last

year immediately after his wife’s demise to score political gains.

He spoke during the birthday celebration of a former deputy governor of the state, Obong Nsima Ekere in Uyo, adding:

“We are in political times and so you can expect more of that. My family is intact and you can see all of them.

“The event you are talking

about took place immediately my wife died last year. So, why is it surfacing now on the eve of our second anniversary when we are celebrating the milestone we have achieved?

“That teaches me that there are detractors around. My family is intact, that’s Jane herself there. We are a good family. The pressure on the kids when they lose a

loved one, could be traumatic and we must know that.

“What I can only appeal to everyone is that they should not bring back the sad memory. Allow my wife’s peaceful soul to rest in peace. I can’t be distracted, I remain focused. I will continue to serve Akwa Ibom people. I don’t wish what happened to me to happen to anyone else.

Saraki: Nigeria Can Surmount Her Problems Through Collective Responsibility

Hammed Shittu in Ilorin

A former Senate President, Dr. Abubakar Bukola Saraki has said the problems bedevilling the nation were surmountable through the right conduct by individuals and collective responsibility of the generality of the populace.

Saraki stated this at OkoIrese town in Irepodun local government area of Kwara State during the unveiling of the newly constructed Christ

Apostolic Church (CAC), Oke Isegun, Oko-Irese town.

The newly constructed CAC Church was facilitated and financed by a chieftain of Peoples Democratic Party (PDP) chieftain in the town, Hon. David Bamidele.

He said, "It is high time the political office holders changed their attitudes and conduct towards the people that elected them into office in order to bring new lease of life to the masses of the country."

Saraki stated that, apart from this, the people should also guide their attitudes and shun all forms of actions that may hinder the peace and development of the country.

He, however, expressed appreciation to the leadership of the CAC within and outside Nigeria for their relentless prayer for the state and the nation.

Represented at the event by Rev. Cornelius Fawenu, Saraki said he would continue

to show commitment towards spiritual growth and religious solidification in order to bring peace and development to the state and the nation in general.

He charged the church and the general faith community not to relent in their prayers and guidance.

The former Senate President whose generous donation was announced to the excitement of the congregation, pledged to always support the faith community.

Court Orders N39m, $53,000 Refund to Addy Finance’s Liquidator in Winding-up Suit

Wale Igbintade

A Federal High Court in Lagos has ordered the immediate recovery of over N30.4 million, N8.6 million, and $53,000 for the liquidator of Addy Finance & Investments Limited, following a petition filed in the ongoing winding-up proceedings of the company. In a ruling delivered on April 28, 2025, Justice Dipeolu granted reliefs sought by the liquidator in an application dated May 8, 2024, filed in Suit No. FHC/L/CP/1577/2022 between Nduka Nwabuwa & 3 others vs. Addy Finance & Investments Limited.

The court also directed the bank to provide certified statements of account for Addy Finance from November 2, 2021, to the date of the ruling. Represented by T.Y. Salman,

SAN, the liquidator argued that Addy Finance maintained several accounts before the winding-up order was made on November 2, 2021.

A court order on March 30, 2022, had restrained the bank from releasing funds or allowing withdrawals pending the appointment of a provisional liquidator, who was eventually appointed on July 5, 2022. The liquidator confirmed that no withdrawals were made from the accounts during this period.

Despite repeated requests, the bank failed to provide full certified statements of account.

However, affidavits filed by the bank’s counsel revealed credit balances of N30,455,571.65, N8,652,845.56, and $53,078.04 in the company’s accounts.

The liquidator argued that under Sections 576 and 577 of the Companies and Allied Matters Act (CAMA) 2020, any transfer of company property or execution against company assets after a winding-up petition is void.

Justice Dipeolu ruled that garnishee orders relied upon by the bank were invalid, as they were obtained nearly a year after the winding-up process commenced.

The court also criticised the bank for entering into a consent judgment in a separate case and making payments to creditors, including its own staff - despite being aware of the winding-up order and without informing the court.

In the judgment, Justice Dipeolu held that the bank failed to discharge its burden of proving that the funds did

not exist.

The court further noted that a party cannot seek equitable relief when its own conduct has created the need for such relief.

Accordingly, the court ordered the bank to pay the following amounts to the liquidator: N30,455,571.65 in account 1022829343 as of December 1, 2022, N8,652,845.56 in account 1023718518 as of March 1, 2023, and $53,078.04 in account 3002888166 as of March 1, 2023

The bank was also ordered to deliver certified statements of account for Addy Finance covering the period from November 2, 2021, to the date of the ruling.

The court, however, declined to grant one of the petitioners’ reliefs on the ground that it was vague.

“People throwing this thing around, if that is what they wish for themselves, I wish them good luck. My family is intact. Even in politics the family should be off limit,” the governor added.

He used the occasion to congratulate Obong Ekere on his 60th birthday and commended him for his meritorious contributions to the state and the country.

Sylvester Idowu in Warri

Chairman and Chief Executive Officer of DAS Energy Services Limited, Chief Sunny Onuesoke, has commended recent moves by President Bola Ahmed Tinubu to facilitate and support the revival of moribund Premium Steel and Mines Limited, former Delta Steel Company (DSC) located in Ovwian-Aladja, Delta State, to run at full capacity.

The Minister of Steel Development, Abubakar Audu, during his recent inspection visit to the facility, had assured the federal government has resolved to facilitate and support the revival of moribund Premium Steel and Mines Limited to run at full capacity in order to provide 5,000 direct and 10,000 indirect jobs, targeted at the economic growth and development.

The minister expressed optimism that with government support, the steel company could contribute significantly to the national GDP and provide the bedrock for Nigeria’s industrial growth.

Reacting to the Minister’s assurance yesterday, Onuesoke who attended the inspection exercise by the federal minister at Ovwian/Aladja

commended President Tinubu-led federal government move to revive the moribund steel company. Onuesoke who has been at the forefront of campaign for renovation of the steel company said its renovation will not only attract development to Delta State, but Nigeria in general because no nation can survive without steel.

His words: “Steel is the bedrock of any development in the world. It is used for vehicles, space craft manufacturing and heavy machinery. No country can grow without steel.

“Every technology in the world has element of steel even the chips of the computers. It is a strategic asset. Its revival will serve as a catalyst for allied industries and significantly reduce unemployment.

“The resuscitation of the steel company will create over twenty-one thousand jobs minus the multiplier effect. It will make Warri an economic hub. It will attract a lot of subsidiary companies dealing. The railway which is already there will be additional gain in assisting the company’s development,” Onuesoke, one time PDP gubernatorial aspirant, disclosed.

Peter Obi: Africa is Victim of Failed Leadership

Former Anambra State governor and 2023 Labour Party presidential candidate, Peter Obi, has blamed the economic and political crisis in Africa as a fall out of failed leadership.

Obi who spoke at a London Business school programme hosted by the Africa Business on the theme: “From Promise to Prosperity: Charting Africa’s Development with Political Will and Vision”, stated that the problem facing Nigeria and indeed Africa was failed leadership.

He stated that Africa was not poor, but that her resources were poorly managed.

''During the engagement and Questions and Answers session, I stated that Africa is not poor, but its natural wealth is just being poorly managed. Africa is a continent blessed with everything you can think of.

“We have about 30% of the world's known mineral reserves and over 60% of the world’s uncultivated arable land. 60% of global solar energy potential is in Africa, yet we are still talking about energy poverty. ''We have the youngest population on earth, over 60% of our 1.4 billion people are young and productive. By 2050, 40% of the world’s youth will be African. That’s potential waiting to be unlocked. Moribund Delta Steel Company: Businessman Excited Over Tinubu’s Resuscitation Move

Chuks Okocha in Abuja

Honourable

Environment

Water Resources, Mr. Tokunbo Wahab (middle), addressing some market officials at Alaba-Rago on the state of the environment in the market on the 1st of June, 2025, at Iba Local Council Development Area, in Lagos State during a tour on the State of the Environment in Lagos State ... yesterday

As Ighodalo Heads to S’ Court Over Edo Guber Poll Judicial Verdicts...

Alex Enumah writes that the People’s Democratic Party’s candidate in the September, 2024 governorship poll in Edo State, Mr asue Ighodalo is heading to the Supreme Court to appeal the judgements of both the appeal Court and Tribunal which upheld the election of Senator Monday Okpebholo as the State Governor.

Few hours after the Court of Appeal in Abuja, dismissed his appeal against the judgment of the Edo State Governorship Election Petition Tribunal, for lacking in merit, candidate of the People’s Democratic Party (PDP) in the September 21, 2024 governorship election in Edo State, Mr Asue Ighodalo vowed to approach the apex court for further redress.

Faulting the judgment which further validated the election of Senator Monday Okpebholo as Edo State Governor, Ighodalo expressed disappointment, lamenting that just as the tribunal the judgment of the appellate court failed to “address the grave concerns we raised regarding widespread acts of non compliance with, and clear violations of the Electoral Act”.

In a press statement issued on Thursday night, the appellant claimed that, “These decisions appear, worryingly, to validate a dangerous pattern of electoral impunity that strikes at the very heart of our democracy and continues to erode public confidence in our electoral process”.

Ighodalo maintained that the struggle has never been about personal ambition, but always about standing with the people of Edo State and defending their sacred right to freely choose their leaders through a credible, transparent and fair election.

“That right was brazenly subverted on September 21st, 2024. The decisions of both the Tribunal and the Court of Appeal, though rendered in the name of the law, in effect ignore the will of the people and reward blatant electoral irregularities”.

While stating that as democrats and patriots, they remain anchored in their belief in the rule of law, he emphasized that they cannot, and will not, allow injustice to go unchallenged.

“I have therefore instructed my legal team to approach the Supreme Court of Nigeria to seek redress. We do so for every voter who queued patiently with hope in their hearts, for every young person who dreams of a better Edo State, and for every Nigerian who still believes that democracy must be well practiced to yield a great country”, he said.

Ighodalo pointed out that the Supreme Court now bears a profound responsibility,

not only to interpret the law and apply same to available facts, but to defend the democratic principles that gave the law its meaning. He added that they are approaching the apex court with full confidence in its integrity, its independence, and its role as the final guardian of justice in the country.

“We believe their Lordships will consider not just the letter of the law, but the greater implications for democracy, justice, and public trust. The eyes of Edo people, and indeed all Nigerians, now look up to the Supreme Court with hope.

“To all our supporters, I urge you once more to remain peaceful, vigilant and steadfast. This is not the end. It is simply the next chapter in our collective struggle for truth, justice, and a bright future for our dear Edo State.

“We remain resolute. We remain committed. We remain undaunted. And we shall not rest until the voices of our people are heard and their stolen mandate restored”, Ighodalo assured.

Just as he had accused the tribunal of erring in law and occasioned a miscarriage in justice, so he would also present before the apex court which is the final court in the land.

If the justices of the apex court in

their findings and conclusions agree with his submissions that the two lower courts erred in their decisions, they are therefore bound to deviate and make fresh orders on the Independent National Electoral Commission (INEC), which conducted the September 21 governorship election in Edo State.

Recall that in January 2020, the Supreme Court had in a split decision deviated from the concurrent decisions of the Imo State Governorship Election Petition Tribunal and the Court of Appeal, to sack the Independent National Electoral Commission (INEC’s) declared winner of the 2019, governorship election in Imo State, Hon. Emeka Ihedioha.

INEC had declared Ihedioha of the People’s Democratic Party (PDP) winner of the Imo governorship election on grounds that he won majority of the votes cast at the election. However, All Progressives Congress (APC) candidate, Senator Hope Uzodinma, who came fourth in INEC’s order had challenged the outcome of the polls, stating that a substantial amount of votes that swayed the election in his favour were excluded from the total votes counted by INEC. His petition was dismissed both by the Imo governorship tribunal and the Court of Appeal in their respective judgments. But this was not the case when the matter got to the Supreme Court.

The then Presiding Justice, now Chief Justice of Nigeria (CJN), Justice Kekere-Ekun, who delivered the majority judgment faulted the lower courts for failing to look into the issue

The appellate court in its unanimous judgment delivered last Thursday aligned itself with the findings and conclusions of the tribunal to the extent that Ighodalo and PDP failed to prove the allegation of non-compliance and how that non-compliance substantially affected the outcome of the September 21 governorship election that produced Senator Okpebholo as Edo State Governor.

of excluded votes in 388 polling units.

“Vote due to the appellant Senator Hope Uzodinma and the APC from 388 Polling Units were wrongly excluded from scores ascribed to the appellant (to them),” Justice Kudirat Kekere-ekun had held then.

“It is thereby ordered that the appellant votes from 388 Polling Units unlawfully excluded from the appellant vote declared shall be added and that the first respondent, Emeka Ihedioha, was not duly elected by a majority of lawful votes cast at the said election.

“His return as the elected governor of Imo State is hereby declared null and void and accordingly set aside.

“It is hereby declared that the first appellant (Mr Uzodimma) holds the majority of lawful votes cast at the governorship election held in Imo State on March 9, 2019”, she added. It is this same act, Ighodalo would be asking the apex court to repeat when he finally files his appeal any moment from now. In the appeal which was unanimously dismissed by the appellate court, his lawyers had argued that the tribunal failed to appreciate the nature of the non compliance complained of. The appellants: Ighodalo and PDP had narrowed their complaint of non-compliance with the electoral laws on wrong computation of results at the collation centers which they believed when corrected would prove that they and not Okpebholo and the APC won the September 21, 2024 governorship election.

Robert Emukpoeruo (SAN) one of the appellants’ lawyers, had claimed during hearings at both the tribunal and Court of Appeal, that there was no record of serial number on Form EC25B as required by Section 73(2) of the Electoral Act, 2022; a ground for invalidating the outcome of an election.

“The tribunal said we required evidence of polling agents or witnesses to prove how the forms were filled or not filled. That was not our case. Our case was that the Form EC 25B did not contain the serial number”’, the senior lawyer said.

Ighodalo

Okpebholo

Fearless Leadership, Followership as Catalyst for Sustainable Development

At the 2025 Akinjide Adeosun Foundation's Leadership Colloquium and Award, Chapter 9, recently held in Lagos, experts presented a nuanced perspective on the theme ‘Fearless Leadership, a Panacea for Sustainable Development’, highlighting that both fearless leadership and followership are equally vital catalysts for achieving sustainable development, rather than just leadership alone. Sunday Ehigiator reports

The pursuit of Sustainable Development Goals (SDGs) has become a pressing concern for individuals, organisations, and governments worldwide. As the global community grapples with the challenges of climate change, poverty, inequality, and social injustice, it has become clear that a new approach is needed; an approach that combines the strengths of both leadership and followership to drive positive change.

In recent years, the concept of fearless leadership has gained significant attention. Fearless leaders are described as those who are willing to challenge the status quo, take risks, and push boundaries to achieve their goals.

They are the ones who inspire and motivate others to follow them on a journey of transformation, whereby they develop a working system towards attaining zero poverty and hunger, equity, fairness, and justice, that would outlive them.

However, leadership is only half the equation. Followership is just as crucial, if not more so, in driving sustainable development.

Fearless followers are those who are willing to support and amplify the efforts of their leaders, while also demanding leadership accountability. They are the ones who bring their unique perspectives, skills, and experiences to the table, helping to create a more diverse and resilient movement.

Arguably, both fearless leadership and followership form a powerful catalyst for sustainable development. By combining the strengths of both, individuals and developing countries like Nigeria can create a snowball effect of positive change that can help to address even the most pressing global challenges.

These were the positions of speakers at Chapter 9 of the AAF’s Leadership Colloquium and Award, held at the Alliance Francaise Auditorium, Mike Adenuga Centre, Ikoyi - Lagos.

The Power of Fearless Leadership Laying a background on the need for fearless leadership in his welcome address, the Founder and Chairman, AAF, Pharm. Akinjide Adeosun noted that “the conquest of fearfulness enables a leader to do audacious things that generate an output of goodness which in turn enables taking difficult decisions leading to economic growth, security, and competitiveness.

“Our strategy, drawn from our mission of building great leaders, is changing the belief which is unseen in individuals to behaviours that are seen.

“The good behaviours of fearless leaders are seen in great strides towards good healthcare, provision of excellent infrastructure, world-class infrastructure and avowed industrialisation.

“Elon MUSK is a Fearless Leader. His triumph can be seen in the multiple businesses he oversees in multiple industries.

“Nelson Mandela epitomised fearlessness. He was unafraid to navigate South Africa through a very difficult apartheid era to a prosperous democratic nation despite threats to his personal life.

“Governor Seyi Makinde is a fearless enigma personified. He has had to triumph over attempts on his life several times. He forges ahead anytime he believes in something despite multiple difficulties along the way. Oyo State has benefited massively from his ‘Can-do’ spirit in the areas of infrastructure, economy, health and education.

“I congratulate the family of the former governor of western region of Nigeria for benefiting from the goodness of a fearless leader, Major General Adeyinka Adebayo. His name opens doors for them; a beautiful legacy of character and capability.

“Greatness starts with Goodness,” Adeosun said, quoting Michelle McBride. “The conquest of fear enables a leader to do audacious things that generate an output of goodness,” he noted.

Importance of Fearless

Followership

In his keynote address, Former Governor of Rivers State, Hon. Rotimi Amaechi, spoke on the importance of fearless followership as against fearless leadership, in the quest to attain sustainable development.

According to him, “I listened to the founder's address, and I was struck by the emphasis on ‘fearless’ leadership. But as I reflected on the concept, I began to wonder if we're focusing on the wrong thing. Is fearless leadership the answer to our problems, or is it something else entirely?

“As I delved deeper into the topic, I realised that what we mean by ‘fearless’ is actually ‘courageous’. And courageous leadership is not something that can be sustained in the long term.

“When systems work well, we don't need

courageous leaders; we just need people who can follow the rules and procedures. It's only when there's a failure in leadership that we start looking for courageous leaders.

“But even if we find a courageous leader, what happens next? The leader serves their term, and then they're gone. The system collapses again, and we're back to square one, searching for another fearless leader. This cycle can go on indefinitely, and it's not a sustainable solution.

“Moreover, courageous leaders can also be bad leaders. Leadership is not just about being fearless or courageous; it's about having the right qualities, abilities, and virtues. As Aristotle said, leadership is the art of persuasion, and it requires a deep understanding of human nature and behaviour.

“Socrates identified the qualities of a good leader as knowledge, abilities, and virtues. Plato took it a step further, saying that a leader's job is not to tell people to follow them, but to persuade them through their character and actions.

“As I researched the concept of leadership, I realised that the different definitions all point to one thing: the power of persuasion and followership.

“A leader must be able to convince their followers of their vision and persuade them to take action. This requires a deep understanding of human nature and behaviour, as well as the ability to communicate effectively.

“But followership is just as important as leadership. Followers must be convinced of their leader’s character and abilities, and they must be willing to follow them. This requires a level of trust and accountability, and it's something that’s often missing in our societies.

“As President Harry Truman said, leadership is the ability to make followers do what they don't want to do. But this requires a level of persuasion and influence that's based on character and trust, rather than fear or coercion.

“In the end, it's not fearless leadership that we need, but fearless followership. We need followers who are willing to hold their leaders accountable, who are willing to speak truth to power, and who are willing to stand up for what they believe in.

“As I looked at the state of our country, I realised that we've been focusing on the

wrong thing. We've been looking for fearless leaders when what we need is fearless followership.

“We need people who are willing to stand up for their rights, who are willing to demand accountability from their leaders, and who are willing to work together to build a better society.

“In conclusion, fearless leadership is not the answer to our problems. What we need is fearless followership and a deeper understanding of what leadership means.

“We need to focus on building strong, accountable institutions, and on cultivating a culture of trust and responsibility. Only then can we build a society that's truly just, equitable, and sustainable.”

The Intersection

The concept of fearless leadership and followership is often viewed as separate entities, but as emphasised by various speakers at the event, these two concepts are, in fact, intertwined and interdependent.

Fearless leaders rely on fearless followers to amplify and support their efforts, while fearless followers need fearless leaders to inspire and motivate them.

The intersection of fearless leadership and followership is where meaningful change occurs. It is here that individuals and institutions come together to create a movement for positive change, leveraging the strengths of both leadership and followership to achieve common goals.

A notable example of this intersection is the Civil Rights Movement in the United States. Fearless leaders like Martin Luther King Jr. inspired and motivated others to join the movement, while fearless followers brought their unique perspectives, skills, and experiences to the table, supporting and amplifying the efforts of their leaders.

In conclusion, fearless leadership and followership are the driving forces behind sustainable development.

By combining the strengths of both, individuals and institutions can create a ripple effect of positive change that can help address even the most pressing global challenges. Hence, it is essential as a country that we cultivate these qualities in ourselves and others, creating a movement for positive change that is driven by the fearless passion and commitment of individuals to the development and progress of the country.

L-R: The Immediate Past Secretary to the Oyo State Government, Pharm. Mrs. Olubamiwo Adeosun, Founder, Akinjide Adeosun Foundation (AAF), Pharm. Akinjide Adeosun; Former Governor of Rivers State, Rt. Hon. Rotimi Amaechi; Daughters of the 2025 Posthumous Excellence in Leadership Awardee, Major General Adeyinka Adebayo, Chief Mrs. Nike Makinde and Chief Mrs. Joke Chukwumah, and The First Lady of Oyo State, Engr. Mrs. Tamunominini Makinde, at the 2025 Akinjide Adeosun (AAF) Leadership Colloquium & Award- Chapter 9, held recently in Lagos.

Editor,

Editorial Page PETER

ISHAKA

Email peter.ishaka@thisdaylive.com

THE DEVASTATING RAGE OF NATURE

The authorities may do well by heeding NiMet’s predictions

Following torrential rainfall lasting several hours in Mokwa, Niger State, last Wednesday, more than 150 people have been confirmed dead by the state Emergency Management Agency (NSEMA). The disaster came against the background of a recent warning by the National Emergency Management Agency (NEMA) for a collective action of all tiers of government, stakeholders, and citizens. Describing floods as one of the most destructive recurring disasters in Nigeria, NEMA Director General, Zubaida Umar said their impacts have continued to wreak havoc on lives, livelihoods, and infrastructure. “Nigerians have equally suffered injuries and lost their life savings due to unmitigated incidents of floods and secondary hazards every year,” she said. But now that the rains have started, we hope that authorities in the coastal states would put preventive measures in place.

trarily put up structures on flood plains and water channels without approval. This act of lawlessness obstructs the waterways and makes the areas prone to flooding. Besides the loss of lives and destruction of property, the economic consequence of flooding for the country can be dire.

With urbanisation rate put at 5.5 per cent yearly and considered one of the highest rates in the world, the number of Nigerians at risk or vulnerable to flood hazards is likely to increase. One needs to quickly recall the devastating effect of flooding in various parts of the country in times past. Specifically, in 2012 and 2022, similar warnings were made by regulatory agencies but were not heeded by the state governments and local communities at the end of which scores of lives were lost.

Besides the loss of lives and destruction of property, the economic consequence of flooding for the country can be dire

As we have repeatedly highlighted, flooding does enormous damage to the ecosystem and destroys public utilities. It also elevates the risk of hunger and malnutrition because of disruption of farmlands and commercial losses for farmers engaged in subsistence farming. But perhaps most significant is that we have lost thousands of people to flooding in the past decade while millions remain displaced. Unfortunately, not much attention is being paid to the 2025 seasonal climate prediction by the Nigerian Meteorological Agency (NiMet) and the annual flood outlook by the Nigeria Hydrological Services Agency (NIHSA), both of which paint a concerning picture of rainfall patterns and potential flood scenarios.

Meanwhile, some of the causes of flooding are self-inflicted by residents of these communities who are fond of dumping refuse on waterways. We have also seen instances where people arbi-

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Letters to the Editor

The federal and state governments must take immediate steps to ensure that flooding does not become another disaster in the nation's history. What has become of the ecological fund that billions of Naira are usually voted for annually? How are the funds utilised in the affected states and what are the moves being made by the state governments to take care of the riverbanks that aid flooding?

Floods are among the most frequent and costly natural disasters in terms of human hardship and economic loss, and they have caused untold damage in the last couple of years. Therefore, we implore all the relevant authorities to prepare for the rains with great diligence. Individuals and groups living on flood plains should be evacuated or made to stay away from the potential dangers of their places of abode. The focus should be on prevention and pre-emptive intervention because little is gained when resources that should be put into developmental initiatives are dissipated in dealing with avoidable emergencies and calamities.

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

EMMANUELLA AHENJI’S ABORTED JOURNEY

On May 16, 2025, with her heart half in her mouth, Miss Emmanuella Ahenjir entered a vehicle from Gyado Villa area of Makurdi, the Benue State Capital, to Wukari in Taraba State. The 23-year-old student of the Federal University Wukari was headed back to school. But she never made it. At the Wurukum roundabout in Makurdi, she was shot dead by another one of many of Nigeria’s trigger-happy policemen, who opened fired on the vehicle when the driver refused to stop.

She may not have had the sort of piercing premonition that would have made her postpone her journey, but for many years now, there has remained something ominous about travelling on Nigerian roads. The dilapidated, potholes-ridden stretches of the road don’t even begin to evoke the kind of fear that bandits who seem to lurk in every bush waiting for passengers do.

With security personnel on the roads, especially the police considered nothing more than pesky producers of inconvenience, the real danger has always lain elsewhere given that for so long Nigerians lulled by a false sense of reformation believed that police patrols on their roads had shed their disastrous reputation for being trigger-happy.

Ms. Ahenjir’s death has predictably elicited a national outcry,

with shock running through the country and reminding Nigerians of the fragility of life in the country and the clear and present danger ironically posed by those paid by the taxpayers to protect them.

For Ms. Ahenjir’s family who had no doubt gone through the routines of saying goodbye and wishing their daughter safe journey back to school earlier that day, it will take forever, if ever, for the shock and grief to wear off at the nonchalant manner a precious, promising life was so conclusively snuffed out.

For many Nigerians, the police are the worst nightmare, as frightening as the many bandits who pace Nigeria’s many jagged and ragged forests waiting for the opportune moment to pounce on unsuspecting passengers with deadly precision. The only difference is that while bandits prowl the bush, the police line up on the road, clad in uniform sewn with taxpayer’s money, and wielding guns bought with taxpayers money and are no less menacing. Over the years, the police has acquired a fearsome reputation in Nigeria, with years of strained relations with Nigerians and allegations of corruption thrashing the PR-punt that “police is your friend.”

The fear and revulsion with which the police are approached

and treated in Nigeria has become a generational thing, passed on from parents to their children.

Killings of Nigerians by security personnel on the road used to be rampant. Nigerians have lost their lives to police on the road over sums of money as negligible as fifty naira. While years of advocacy and reformation have led to a steep drop in such incidents, Ms. Ahenjir’s death is a stark reminder that the police are not out of the woods yet.

Are these avoidable incidents collateral damage in law enforcement, or do they betray deeper structural problems? Should those who wield guns bought by Nigerians for the sake of Nigerians not exercise more circumspection in their use, especially when there is no armed confrontation?

The questions are many, but as meaningless as it is to bolt the barn door after the horse has bolted. These killings, which remind Nigerians of how quickly life can be snuffed out in their country by those who are supposed to protect it, must be stopped. No country has grown or can grow when its citizens die indiscriminately at the hands of law enforcement.

Kene Obiezu, keneobiezu@gmail.com

GIMBA KAKANDA argues that the bold reforms of the administration are paying off

HALFWAY WITH TINUBU AND SHETTIMA

The oxygen of every democracy is an army of vigilant citizens who keep political leaders on their toes. This is even more critical for those in government employ. What some may perceive as hostility towards public officials is, in fact, the reality check they need to puncture the echo chamber that government often becomes, and which, at times, truly is. Perhaps the most interesting part of governance is this pushback from the public, for it compels policymakers to listen, to learn, and to recalibrate their approach without losing sight of what is practical or achievable.

Political appointees may also feign feeling the heat of the kitchen, probably because of their constant interaction with the consuming public. But no one understands the true weight of cooking for a diverse nation with complex appetites better than those elected into office. President Bola Ahmed Tinubu’s second anniversary address to the nation captures the essence of that experience. It also aligns with Vice President Kashim Shettima’s favourite analogy of what it means to be in the arena, borrowing from the Spanish matador Domingo Ortega, who said the crowd may gather to watch and the critics may have their say, but only the man who faces the bull knows the gravity of the moment.

The debate about President Tinubu’s stewardship has oscillated between sentiment and data. On the former, it may be easy to score low in public perception. But data remains the more credible metric, and it should influence the policies of nations that care about the future. When this government took charge, Nigeria’s debt service-to-revenue ratio had ballooned to nearly 100%. The implications of this may not be easily communicated to those unfamiliar with economic dynamics, but it reflected an economic crisis that had to be reversed before the nation imploded.

It was not that Nigerians had lived a lie, as some chose to characterise the past decades. It was that everyday Nigerians had been cheated by the elite. What transpired was an organised racket perpetuated over generations by political leaders, oil marketers, bureaucrats, and well-connected businesspeople, where fuel and forex subsidies functioned as conduits for corrupt enrichment.

The Aig-Imoukhuede committee in 2012, for instance, uncovered how 21 oil marketers fraudulently collected ₦382 billion in subsidy payments.

A House committee later found ₦1.7 trillion in fraudulent payments over three years for fuel that was never delivered. The multiple exchange rate system in the pre-Tinubu era created fertile ground for round-tripping—a corrupt practice where politically connected individuals, importers, and even CBN insiders accessed dollars at the official rate (often 40% to 60% lower than the black-market rate) and resold them at a profit. This arbitrage-driven system, originally intended to stabilise prices, became a rent-seeking racket where fake manufacturers secured forex for phantom imports, legitimate businesses hoarded subsidised dollars while pricing goods at parallel market rates, and authorised dealers colluded with CBN agents to skim margins meant for exporters.

So, the sentiment that ending these parties of entrepreneurs without enterprise was anti-poor is a misreading of the tragedy. The abuse didn’t only drain public resources or distort the currency market, it fuelled inflation and undermined genuine enterprise by sincere citizens who only sought an enabling environment to compete fairly. It had become so dire that, in 2023, the EFCC launched probes into $347 billion in suspicious forex allocations, including investigations into over 51 major firms. A forensic audit revealed hundreds of offbook CBN accounts and unauthorised transactions.

On the eve of his inauguration, I met President

Tinubu alongside some members of his would-be inner circle, as he prepared for this journey of reform. What stood out in the interactions that day was his conviction not to pay lip service to policymaking. That determination was echoed in his inaugural speech declaration: “Fuel subsidy is gone.” This signalled the beginning of a dreaded transition. The tumult that followed was not unexpected. Many economic experts had long predicted it as a necessary sacrifice.

In my Daily Trust op-ed of October 19, 2022, The Hard Time Ahead, I reported Emir Muhammadu Sanusi II’s warning at the seventh edition of the Kaduna Economic and Investment Summit. Urging Nigerians to prepare for the difficult times ahead as they sought to elect a new President, he cautioned that the reforms necessary to reset the nation would come with consequences. Citing the fiscal and monetary missteps of previous years, he warned: “Anybody that tells you it’s going to be easy, please don’t vote for him. Because it’s either he’s lying to you or he does not know what job he’s going to get.”

No matter how one feels about the journey so far, President Tinubu’s options were stark: prolong the country’s economic decline or perform the surgery that, based on current data, is setting Nigeria on a stronger footing. None of the major presidential candidates in the last election promised to pursue the reforms differently. Those who later attempted to adjust their positions to appeal to mass sentiments merely suggested they would have phased the reforms—ignoring the fact that such measures must be executed within a four-year term, in which the early and final months are reserved for understanding inherited challenges and fine-tuning solutions.

The first-quarter 2025 earnings of Nigeria’s listed companies have not only broken records but also suggest that long-sought stability is finally being achieved. This is explained in detail in the May 29 reflection by business mogul Abdulsamad Rabiu, who shared that “President Tinubu’s Nigeria First policy has aligned well with our own belief in backward integration,” noting that the reforms have “restored stability, fairness, and confidence in the economy”— which he called “the foundations of growth.”

While the short-term inflationary impact of policy reforms is acknowledged, the reality remains that a sustainable microeconomic structure cannot be built without fixing the macroeconomy. Whether as a source of jobs or government revenue, macroeconomic gains trickle down to support social interventions. This foresight drives the deliberations of the National Economic Council, chaired by Vice President Kashim Shettima, and it informs the localisation of the National Human Capital Development Programme to tackle setbacks in education, labour participation, and health, with Akwa Ibom State adopting strategies at the local government level.

Kakanda is the Senior Special Assistant to the President on Research and Analytics, Office of the Vice President, and Co-Lead of the Presidential Initiative for Innovation, Policy Evaluation and Research (PIIPER)

Community participation is the key to effective primary healthcare delivery, argue OFOVWE AIG-IMOUKHUEDE, NONYE EGEKWU, OJUKWU MARK OJUKWU, FOLARANMI ADEOYE, and MYIRIAH KOGI

STRENGTHENING PRIMARY HEALTHCARE DELIVERY

Community participation is a cornerstone of effective primary healthcare delivery. By actively involving communities in health planning and implementation, we can create more responsive and sustainable healthcare systems that truly meet the needs of the people. The Alma-Ata Declaration, adopted in 1978 at the International Conference on Primary Health Care (PHC) in Alma-Ata (now Almaty, Kazakhstan), was a landmark global health policy that emphasised Primary Health Care as the key to achieving "Health for All" by the year 2000. Key highlights of the declaration recognise health as a fundamental human right; defined PHC as essential, community-based, and universally accessible healthcare; stressed the importance of intersectoral collaboration, including education, agriculture, and social services, in achieving health goals; called for government action, international cooperation, and community participation in strengthening PHC.

The 1978 declaration underscored that health care should be accessible, affordable, and involve the community in planning and implementation.

Specifically, VII.5 of the declaration states that“primary health care requires and promotes maximum community and individual self-reliance and participation in the planning, organization, operation and control of primary health care, making fullest use of local, national and other available resources; and to this end develops through appropriate education the ability of communities to participate”. This ultimately aims to create more effective, sustainable, and culturally appropriate health care delivery systems.

The World Health Organisation (WHO) defines community participation “as a process by which people are enabled to become actively and genuinely involved in defining the issues of concern to them, in making decisions about factors that affect their lives, in formulating and implementing policies, in planning, developing and delivering services and in taking action to achieve change”. In Nigeria, the Nigerian National Health Policy and the Sustainable Community Engagement Strategy highlight the importance of community participation in PHC delivery. These documents outline strategies that support communities in health planning, management, and monitoring.

Over the years, the Nigerian government has continued to design impactful community programs aimed at strengthening primary healthcare delivery in the country. Examples of these include;

• The Community Health Workers (CHWs) Program (1978 – present): This initiative was introduced to bridge the gap in healthcare provision, particularly in rural and underserved areas. Community Health Workers (CHWs) were trained to provide basic health services, conduct health education, immunisations, and help manage common diseases, including malaria, diarrhoea, and respiratory infections. Community engagement with CHWs has resulted in a 50% increase in family planning service uptake and expanded access to other primary health care services, including maternal and child health services, and chronic disease management.

• Community Health Influencers, Promoters, and Services (CHIPS) Program (2018 - Present): The CHIPS Program focuses on enhancing community health participation by training community health influencers and promoters to deliver health

education, promote healthy behaviours, and assist communities to access essential health services. CHIPS workers, often members of the local communities, are deployed to engage with the communities, conduct health outreaches, facilitate health campaigns, and promote family planning, immunisations, and maternal health. CHIPS agents have effectively promoted healthy behaviours and facilitated access to essential health services, leading to improved health indicators.

• COVID-19 Community Response and Health Education (2020 - 2022): In Nigeria’s response to the COVID-19 pandemic, community participation played a vital role in the public health response. Community health workers (CHWs) were mobilised to provide health education, assist in contact tracing, and distribute COVID-19 preventive materials. Local community leaders, religious groups, and influencers helped spread vital information regarding the COVID-19 pandemic, including safety measures like maskwearing, social distancing, and hand hygiene.

• Strengthening Community Engagement and Accountability for PHC (SCEAP) Project (2021 - present): implemented by BudgIT Foundation with support from the Bill and Melinda Gates Foundation (BMGF), this project aims to improve primary healthcare delivery through communityled advocacy and monitoring, and empowering community actors to promote transparency and improve healthcare facilities and services.

The collaborative partnership between the community-based organisations, stakeholders, village heads/representatives, WDCs, women leaders, facility in-charges, and community members has proven instrumental in addressing healthcare challenges and enhancing service delivery. There is also an increase in service utilisation at the PHCs, which is evident in increased patient turnouts that have been observed since the start of SCEAP, with a 55% increase in the number of participants visiting the PHCs weekly and a 30% increase in the monthly visits to the facilities. Additionally, there has been a 70% increase in outpatient consultation and antenatal care services in most facilities.

• Ward Development Committees (WDCs) and Village Development Committees (VDCs) (2001) were created as community structures to support planning and monitoring of health care services. These community structures have facilitated community involvement in healthcare decisionmaking, leading to more tailored and accepted health interventions, and enhanced monitoring of health services, which has contributed to improved accountability and service delivery.

• Basic Healthcare Provision Fund (BHCPF) (2019 – present): This is a funding mechanism designed to provide financial support to primary healthcare centres across Nigeria. It aims to improve the quality and accessibility of PHC services by ensuring adequate funding for essential health services, including immunisation, maternal and child health, and disease surveillance.

Ofovwe Aig-Imoukhuede is Executive Vice Chair, Aig-Imoukhuede Foundatio

www.thisdaylive.com

HALFWAY WITH TINUBU AND SHETTIMA

GIMBA KAKANDA argues that the bold reforms of the administration are paying off

See page 21

STRENGTHENING PRIMARY HEALTHCARE DELIVERY

Community participation is the key to effective primary healthcare delivery, argue OFOVWE AIGIMOUKHUEDE, NONYE EGEKWU, OJUKWU MARK OJUKWU, FOLARANMI ADEOYE, and MYIRIAH KOGI

See page 21

RAGE OF NATURE

opinion@thisdaylive.com

LINUS OKORIE contends that Africa’s greatest tragedy is not lack of leaders but surplus of power-holders with no vision

LEADERSHIP VS. POWER: WHY AFRICA KEEPS GETTING IT WRONG

Across much of Africa, the word leadership is overused and misunderstood. We use it to describe heads of state, ministers, governors, CEOs, and even school prefects. But what many of these individuals hold is not leadership; it is power. And the confusion between the two has cost the continent dearly. Power is about authority, control, and dominance. It is often transactional: I give orders, you obey. Leadership, on the other hand, is about service, vision, and influence. True leaders don’t cling to titles or manipulate systems; they move people and ideas forward. Too often, those in power mistake their position for purpose. They equate office with leadership, influence with intimidation, and progress with propaganda. This misalignment between power and authentic leadership is at the heart of Africa’s political, economic, and social dysfunctions.

Where did this confusion begin?

Part of the answer lies in colonial history. African nations were governed through systems that centralized power in the hands of a few and ruled by decree. Colonial administrators were not leaders but enforcers. They never earned our trust but commanded obedience.

When independence came, many new governments retained this top-down structure. But now, instead of foreign rulers, we had local ones repeating the same playbook. Military coups became common, and with them came the normalization of authoritarian leadership. Uniforms replaced suits but the system didn’t change.

The militarization of leadership shaped how power was exercised and perceived. Titles became symbols of status, not service. State resources became personal reward systems. And because these systems worked to preserve power, there was little incentive to disrupt them even when they failed the people.

To understand the crisis, let’s see it from the “Big Man” syndrome. This is a term used to describe the dominant leadership style in post-colonial Africa. It is characterized by centralization of power, personal glorification, and a near-feudal relationship with citizens.

The Big Man does not build institutions but weakens them to protect his authority. He surrounds himself with loyalists, not truth-tellers. Criticism is met with suspicion or punishment. And worst of all, he confuses the longevity of his reign with legitimacy.

This model is not limited to politics. You will find it in business, religion, academia, and even NGOs. It is the manager who never delegates. The CEO whose name is bigger than the brand. The student leader who has no accountability. In reality, it suffocates innovation, dismantles trust, and breeds cycles of dependency.

Robert Mugabe was hailed as a liberation hero. By the time he left office, Zimbabwe’s economy had collapsed under hyperinflation, institutions were gutted, and millions had fled the country. His initial vision was lost in a decades-long obsession with retaining power at all costs.

Compare that to Ellen Johnson Sirleaf, Africa’s first female head of state, who took over a war-torn Liberia. She focused on rebuilding governance, securing debt relief, and restoring basic services. Her leadership was not perfect, but it was intentional, peoplecentered, and forward-looking.

What Africa needs is not just a new generation of leaders but a new definition of leadership altogether. Transformational leadership inspires, empowers, and mobilizes. It asks: What can I build that outlasts me? It values dialogue over dominance.

In contrast, transactional or authoritarian leadership, dominates African politics. It asks: What can I get while I’m here? It focuses on control, patronage, and short-term wins.

We’ve seen glimpses of what transformational leadership looks like across the continent: Paul Kagame has been praised (and critiqued) for his developmental strides in Rwanda, particularly in public health and infrastructure. Ngozi Okonjo-Iweala, in her tenure as Nigeria’s Finance Minister and now at the WTO, represents a leadership style rooted in discipline, data, and global cooperation.

In South Africa, Nelson Mandela modeled restraint by stepping down after a single term, reminding the world that real leaders know when to leave. These individuals did not lead perfectly but they led with purpose. And their impact endured beyond their office.

Fixing the leadership crisis in Africa is not just a matter of electing better people. It requires a fundamental mindset shift. We must begin to teach and internalize the idea that leadership is a trust, given by people, and for the people. It is not about being served but about serving. The goal of leadership should be to leave systems better than we found them. Leaders must be builders, not gatekeepers.

Real leaders engage with dissenting views, invite dialogue, and make inclusive

decisions. Leadership is not just at the top. Communities, local governments, and civil society must be empowered to shape their own futures. The obsession with holding on to power has paralyzed progress in many countries. Leaders should groom successors, not some blind loyalists or rivals.

Africa’s future won’t be shaped by charisma or credentials but by character. We need to invest in values-based leadership development from the ground up. That means:

· Embedding ethics, empathy, and emotional intelligence in school curricula.

· Creating mentorship pipelines where emerging leaders are paired with seasoned role models.

· Supporting leadership academies, fellowships, and think tanks focused on public service.

· Encouraging storytelling that celebrates builders, not just rulers.

Most importantly, we need to reward the right kind of leadership. Citizens must raise their expectations, hold leaders accountable, and stop applauding empty gestures. Leadership and power are not interchangeable. One liberates; the other often imprisons. One builds; the other consumes. Africa’s greatest tragedy is not a lack of leaders but a surplus of power-holders with no vision.

But change is possible. We see it every time a young innovator starts a civic tech platform. Every time a woman contests an election. Every time a community organizes for clean water, better schools, or safer streets.

The future of African leadership will be determined in the hearts and minds of those who choose to lead differently. Let’s choose to be leaders, not just power brokers. Let’s teach leadership not as domination but as a daily act of service and courage. That’s how we’ll get it right. And that’s how we’ll build an Africa that lasts.

Okorie MFR is a leadership development expert spanning 30 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre. www.gotni.africa

RATES AS AT M A y 30,2025

Kayode Tokede

With a gain of 37.44 per cent Year-till-Date (YtD), the Nigerian Exchange Limited (NGX) Consumer Goods Index outshined other indices to emerged as the best performing index in the first five months ended may 2025.

The growth was driven by investors demand for Nestle Nigeria Plc, Nigerian Breweries Plc, among other quoted companies on the bourse.

During the period under consideration, the Consumer Goods Index outperformed major indicators such as; NGX All-Share Index (ASI) that closed YtD at 8.56 per cent. Conversely, the NGX Oil & Gas index, followed by NGX Insurance Index emerged the worst performing indices on the Exchange during the period.

Also, NGX Oil & gas closed flat at -14.19 per cent driven by profit-taking in Oando Plc, while the NGX Insurance Index closed at -4.63 per cent in its YtD performance.

Nestle Nigeria, the most capitalised stock in the NGX

Consumer Goods Index has appreciated by N567.14 billion in first five months of 2025 to close May 2025 at N1,590.50 per share after gaining N715.50 or 81.77 per cent from N875 per share it closed 2024, following an impressive first quarter ended (Q1) 2025 unaudited result and accounts.

Investors reacted to the leading Fast-Moving Consumer Good (FMCG) Q1 2025 results that showed N51.15 billion profit before tax from a loss before tax of N196.09 billion in Q1 2024.

Capital market analysts have attributed the soar demand for companies in the Consumer Goods Index to recovery in Q1 2025 corporate earnings, stressing that these companies overcame the numerous macroeconomy challenges of 2023 & 2024 FY to generate profit with a possibility of declaring dividend in 2025.

The foreign exchange policy by the Central Bank of Nigeria (CBN) of 2023 led to a sharp depreciation of the Naira, adversely affecting companies in the Consumer Goods index.

The review of companies in the NGX Consumer Goods Index revealed that Golden Guinea Breweries was the only company that declined in stock price, while Honeywell Flour Plc and Northern Nigeria. Flour Mills Plc advanced in stock price.

From the YtD review, the investors average return in Golden Guinea Breweries dropped by 17.8 per cent to close May 2025 at N7.10 per share while investors average return in Honeywell Flour grew significantly by 233.3 per cent to close at N21.00 per share from N6.30 per share on the NGX.

Also, the average return in Northern Nigeria Flour Mills Plc stood at 216.4 per cent to close May 2025 at N138.90 per share from N43.90 per share the stock opened for trading.

THISDAY checks revealed that the listed breweries companies witnessed growth in stock price in the period under review as investors expanded their portfolios.

For instance, the stock price of Nigerian Breweries Plc advanced by 78.13 per cent YtD to close N57.00

per share from N32.00 per share, while the stock price of International Breweries Plc gained 74.8 per cent to close May 2025 at N9.70 per share from N5.550 per share.

In addition, the stock price of Champion Breweries increased by 78.5 per cent YtD to close at N6.80 per share from N3.81 per share and Guinness Nigeria gained 22.4 per cent YtD to close May 2025 at N86.00 per share from N70.25 per share on NGX.

Analysts at Cordros Securities in a report had urged investors to BUY most stocks in the Consumer Goods Index.

The firm in its report maintained an optimistic outlook for the food companies such as Nestle Nigeria, NASCON, given the essential nature of their products, “and their ability to implement price hikes more effectively than their peers, supported by a favourable price/volume mix.”

“These companies also benefit from strong market share, extensive distribution networks, and consumer demand resilience, making them less affected by shifts in consumer purchasing power, providing a solid

advantage in the medium term,” the report explained.

Afrinvest in a report titled, “2025 Brewery Sector Update Report | Brewing Back to Orofitability,” said it anticipated that global brewery performance would be influenced by several key trends: the deepening of premiumisation strategies for flagship brands, and Innovation tailored to Gen-Z preferences.

The firm also listed, “supply chain decarbonisation, and strategic mergers, acquisitions, and market exit driven by profitability outlooks. These trends are explored in detail in the global industry analysis section,” among several key trends to drive the sector in 2025.

The industry experienced a strong close to the year, with revenue in Q4:2024 rising 42.6 per cent quarter-on-quarter (q/q) to N611.0 billion – the highest quarterly revenue in 2024 and the sharpest quarterly growth. A key enabler was the resurgence of year-end social events, particularly in Lagos, where the “DettyDecember” festivities contributed

an estimated N111.5 billion (approximately, $71.6 million) to tourism and entertainment spend, with brewery products benefitting as derived demand. Going forward the firm said, “Looking forward, we project a return to profitability in 2025 for the domestic industry, with a base-case Profit Before Tax (PBT) estimate of N215.3billion. This outlook is underpinned by a mix of favourable external conditions (e.g., macroeconomic stabilization and corporate income tax adjustments) and internal initiatives such as capital injections, merger and acquisition synergies, and product resizing strategies.”

THISDAY can report that two listed breweries company, Nigerian Breweries reported N69.99 billion profit before tax in Q1 2025 from a loss before tax of N65.58 billion as International Breweries announced N35.07 billion profit before tax in Q1 2025 from a loss before tax of N89.35 billion.

The Manufacturers Association of Nigeria (MAN), has bemoaned the astronomical surge of 118 per cent in the cost of imported raw materials, which grew to N6.64 trillion and foreign exchange (FX) losses of N1.62 trillion that its members suffered in 2024 alone.

The Director General of MAN, Mr. Segun Ajayi-Kadir, stated this in his address at the 2025 BusinessDay

Manufacturing Conference with the theme, “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence.”

The MAN used the conference to ask the federal government to gazette the “Nigeria First Policy,” enact it into law with stipulated punitive measures for violators in order, “to give the policy legal standing, ensuring transparency, public awareness, and enforceability

across government institutions and the private sector.”

According to him, the manufacturing sector is worse hit by the prevailing economic downturn and is now facing the combined storm of foreign exchange (FX) losses, rising raw material costs, high energy prices, multiple taxation and escalated borrowing among other challenges.

Ajayi-Kadir said that due to the high and volatile foreign exchange

rate and high import duties, the cost of importing needed raw materials has risen astronomically while most of these raw materials are not available locally, those that are available are scarce and becoming limited in supply.

He said: “Credible data revealed that in last year alone, the exchange rate depreciated by 53 per cent and the cost of imported raw materials surged by 118 per cent to N6.64 trillion. In the same year, documented

forex losses of manufacturers within MAN increased from N983 billion in 2023 to N1.62 trillion due to Naira depreciation as well as the non-settlement of the $2.4 billion worth of Forex forward contract by the CBN.”

He added that manufacturers within the Small and Medium Industries (SMI) cadre were particularly impacted by the cost of alternative energy which skyrocketed from N781.7 billion in 2023 to N1.1 trillion

Dike Onwuamaeze

The Federal Ministry of Industry, Trade and Investment, at the weekend in Lagos, re-launched the National Talent Export Programme (NATEP), an initiative led by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.

The programme is designed to tap into the $1 trillion global outsourcing industry by positioning Nigeria’s youth as a world-class talent pool for digital and professional services.

Speaking at the launch, the minister said: “What we celebrate today is not merely the launch of a program; it represents the continuation of a vision to position Nigeria as a global leader in the future of work and services. With digital transformation firmly embedded in President Bola Ahmed Tinubu’s economic vision, Nigeria is enhancing the infrastructure, systems, and policy tools necessary for an inclusive and innovation-driven future.”

In alignment with President

Currency

Tinubu’s 8-point agenda, NATEP is designed to empower Nigeria’s youth, harness global service export opportunities, and drive inclusive economic transformation.

NATEP represents a strategic move to diversify Nigeria’s economy, boost foreign exchange earnings, and create sustainable employment.

As part of this re-launch, Mrs. Teju Abisoye has been appointed as the National Coordinator of NATEP

Speaking at the re-launch, Abisoye said: “Our mandate at NATEP is to position Nigeria as Africa’s peerless global talent hub by building an enabling ecosystem through policy, platforms, promotion, and partnerships. We would actualise this critical national objective by upskilling and enabling Nigeria’s teeming young human capital to take advantage of the $1 trillion global service trade, with soaring demand for digital services, outsourcing, and remote work. This is one of President Bola Ahmed Tinubu’s strategic interventions to tackle youth unemployment head-on, generate

in Circulation Hits N5.01trn as Cash Outside Banks Declines

Nume Ekeghe

Currency in circulation (CIC) in Nigeria climbed to N5.015 trillion in April 2025, up marginally from N5.003 trillion in March, according to the latest data from the Central Bank of Nigeria (CBN). The 0.24 per cent increase reflects a continued build-up of liquidity in the economy despite efforts by the apex bank to tighten monetary conditions.

However, in a notable shift, the amount of currency held outside the formal banking system declined for the first time in three months. It dropped to N4.57 trillion in April from N4.59 trillion in March, representing a 0.4 percent monthon-month decrease.

Despite the decline, a significant portion of currency, 91.2 per cent remains outside banks, slightly down from 91.4 percent in the previous month.

Currency in circulation has steadily increased over the past year. In April 2024, CIC was N3.92 trillion, with N3.61 trillion or about 92 per cent outside the banking system. By May 2024, total CIC rose to N3.97 trillion, with N3.71 trillion held outside banks. In June, CIC climbed to N4.05 trillion, with N3.79 trillion, representing 93.5 percent outside the banking system. July maintained a CIC of N4.05 trillion, while currency outside banks dipped slightly to N3.67 trillion, making up 90.6 percent

of the total.

In August, CIC increased to N4.14 trillion, with N3.87 trillion outside banks. September continued the trend with N4.31 trillion in circulation and N4.02 trillion held outside banks. October saw CIC rise further to N4.55 trillion, of which N4.29 trillion 94.3 per cent, was outside the banking system. November recorded a new peak, with N4.88 trillion in circulation and N4.65 trillion outside banks, the highest share observed during the year. December figure was N5.44 trillion while January 2025 reached N5.235 trillion before CIC declined slightly to N5.037 trillion in February and N5.003 trillion in March.

April’s uptick in total CIC, despite the minor decline in currency outside banks, indicates that liquidity conditions remain elevated. Broader monetary aggregates continue to reflect this expansion. Money supply (M3) rose to N119.10 trillion in April, a 4.3 percent increase from N114.22 trillion in March and a 22.8 percent jump year-on-year from N96.97 trillion in April 2024. Meanwhile, credit to the private sector grew to N77.90 trillion in April, up from N76.26 trillion in March. In contrast, credit to the government contracted by 8.9 percent month-onmonth, declining to N23.55 trillion in April from N25.85 trillion in March, although it remained 17.9 percent higher than the N19.97 trillion recorded in April 2024.

To mark the renewed direction, the

In a strategic move to combat plastic pollution and foster environmental sustainability in Apapa, APM Terminals Apapa, Nigeria’s largest container terminal, has partnered with waste management startup Garbage In Value Out (GIVO) to launch a zero-carbon recycling hub.

The Zero Carbon Recycling Hub, located in Apapa, is designed to make waste recycling easier and more accessible to communities, with the broader goal of fostering long-term sustainable practices. The official launch took place on Wednesday at Ladi-Lak Primary School, Apapa.

Speaking at the event, Terminal Manager of APM Terminals Apapa, Steen Knudsen emphasised that the initiative is part of the company’s Corporate Social Responsibility (CSR) commitment to its host communities. He outlined the company’s CSR focus on three core areas: environmental sustainability, education, and healthcare.

“In line with our global goal to achieve net zero emissions by 2040, APM Terminals is increasing its investments in environmental sustainability,” Knudsen stated. “As a key player in the transportation and logistic industry, we operate

Union Bank Harps on Inclusive Education, Sponsors Mathematics Competition for Hearing Impaired Students

In furtherance of its commitment to inclusive education and youth empowerment, Union Bank of Nigeria, through its Corporate, Sustainability and Innovation platform, UnionCares, has sponsored a mathematics competition tailored for students with hearing impairments.

The competition, themed, “Impacting Deaf Students and Life with Mathematics in Nigeria,” was organised by the Ajofa Special Education Foundation for the Deaf and held at the Wesley School for the Hearing Impaired in Surulere, Lagos. The event brought together students, educators, officials from the Lagos State Education Board, and representatives of Union Bank, in what has been described as a model of inclusive corporate engagement.

Ten students drawn from schools across the hearing-impaired community in Lagos participated in the intellectually charged contest, which sought not only to enhance the visibility of learners with special needs but also to affirm their place in Nigeria’s academic and innovation landscape.

Commenting on this initiative, the Chief Brand and Marketing Officer at Union Bank of

Nigeria, Olufunmilola Aluko, said: “At Union Bank, we believe that development must be inclusive. That’s why, through our UnionCares initiative, we continue to invest in meaningful partnerships and platforms like this. We also commend the brilliant students on display today, who have demonstrated that their circumstances do not define them. Rather, they are writing a new story that says disability is not inability. They are mathematicians, thinkers, and problem-solvers whose wisdom whispers and reshapes the world positively.”

The Founder and Executive Director for the Ajofa Special Education Foundation for the Deaf, Francis Ajomiwe, who communicated through an interpreter, expressed appreciation to Union Bank.

He said, “I’m grateful to Union Bank for their Sponsorship of this competition, helping bring our dreams to life. Through the Foundation, we are contributing our share to the overall goals of enhancing the educational experience and developing the deaf community. This we have been committed to upholding through organising education programmes and projects that benefit the deaf community”.

heavy equipment and vessels that contribute to carbon emissions, and we recognize our responsibility to reduce that footprint.”

Knudsen highlighted previous sustainability efforts, including the recycling of used tyres into useful items such as floor mats and flip-flops.

The new partnership with GIVO, he said, builds on these efforts by targeting plastic waste, enabling its transformation into reusable materials.

He also revealed that APM Terminals is already procuring workwear (coveralls) made from recycled plastic waste, and we would welcome a more circular economy, were not only the waste is

collaboration and

collected in Nigeria, but also where the value adding processes are done in country further decreasing CO2 emissions from transportation and creating jobs for Nigerians. CEO of GIVO, Victor BoyleKomolafe, explained that the recycling hub is solar-powered and services a 25-kilometre radius. The facility currently recycles approximately 300 kilograms of waste per day, totaling about 90 metric tons annually. According to BoyleKomolafe, these efforts help avoid up to 3,000 metric tons of carbon dioxide emissions per year.

Emma Okonji

Nume Ekeghe

vital foreign exchange, and diversify our economy through service sector expansion.”

minister led a high-level delegation on an official visit to Alaro City, home to Itana, Nigeria’s first Digital Special Economic Zone, at the weekend

in Lagos. The minister also leveraged the visit to sign a Memorandum of Understanding (MoU) aimed at strengthening public-private sector

showcasing the infrastructure and innovation ecosystem that will support the programme’s success.

L-R: President, Nigerian Gas Association (NGA), Akachukwu Nwokedi; Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; Incoming President, International Gas Union (IGU), Khaled Abu Bakr and IGU Presidency Director 2025-2028, Fabio Sostaro, at the Nigerian Pavilion during the Opening Ceremony of the World Gas Conference in Beijing, China… recently

This Week In Tech

Cyber Crisis: Nigeria Logs 119,000 Breaches in Q1 2025

73.6m records leaked in two decades

Nigeria has found itself among the world’s top 60 countries most affected by data breaches in the first quarter of 2025. This is according to a new report by global cybersecurity firm Surfshark.

The country recorded 119,000 compromised user accounts within the first quarter, a figure that, although deeply concerning, reflects a substantial decline from previous quarters. This data places Nigeria 54th globally, highlighting the persistent yet evolving nature of cyber threats in Africa’s largest economy.

NIGERIA’S PLACE IN GLOBAL DATA BREACHES

Between 2004 and 2025, Nigeria recorded 23.2 million breached email accounts, and 73.6 million leaked personal records, ranking it 54th globally in total breached accounts. Although relatively low in global ranking, Nigeria remains one of the most affected countries in Sub-Saharan Africa, making its cyber vulnerability disproportionately significant compared to its global standing.

TREND ANALYSIS:

NIGERIA’S DATA BREACH HISTORY

The quarterly data from January 2020 through January 2025 shows that Nigeria’s breach figures fluctuated, with spikes in specific periods. April 2020 recorded one of the highest spikes, with 3.7 million breaches, possibly linked to early pandemic digital shifts. The rest of 2020 saw tapering, yet the number remained in the hundreds of thousands, indicating persistent vulnerabilities.

Between 2021 and 2022, breach numbers began to decline steadily, often falling below 500,000 per quarter. A notable trough appeared in Q2 2022, with only 21,863 breaches, the lowest in the five-year dataset.

After some fluctuation through 2023 and 2024, breaches again surged in October 2024 with 786,317 records before dropping sharply to 119,433 in Q1 2025.

This long-term view reflects the chaotic nature of Nigeria’s cybersecurity readiness, with breaches rising and falling sharply due to a combination of factors, including reactive regulation, weak infrastructure, and limited public awareness.

GLOBAL COMPARISON: WHERE NIGERIA STANDS

In contrast to global breach giants like the United States, Russia, and China, Nigeria’s cumulative figures may seem small. However, the global top five in terms of total breached email accounts is operating at massive scales.

The United States tops the list with 4.38 billion breached email accounts and 18.4 billion other personal records. Russia follows closely with 3.3 billion accounts and over 5.4 billion personal records. China, France, and Germany round out the top five.

In these countries, breaches often reach tens or hundreds of millions per quarter, showing how deeply embedded the cyber risk has become in their digital ecosystems. For instance, in Q4 2024 alone, the United States experienced 410 million breaches, compared to Nigeria’s 786,000. However, Nigeria’s case is noteworthy because of its breach density relative to cyber-readiness and public education. A single breach in Nigeria could have far more severe consequences due to weak safeguards, limited recourse, and the high stakes involved in identity theft.

Furthermore, this collective downturn has been linked to seasonal cybercrime patterns, increased use of two-factor authentication, and, perhaps most importantly, wider public attention and regulatory response following major global data leaks in 2023 and 2024.

Yet, cybersecurity experts caution that the decline may not signal a fundamental solution. As noted in Surfshark’s report, many attacks are evolving toward deepfakes, ransomware, and targeted social engineering, areas where Nigeria remains highly vulnerable.

UNDERSTANDING

NIGERIA’S CYBERSECURITY

VULNERABILITY

Nigeria’s vulnerability to cyberattacks can be traced to several interconnected factors. In recent years, the country has seen an

explosion in digital activity, driven by rapid growth in mobile penetration, the rise of fintech innovations, and the digitisation of government services. However, this digital boom has not been accompanied by a commensurate growth in cybersecurity infrastructure. As a result, sensitive personal data is increasingly collected, stored, and transmitted without adequate protection in place.

Government agencies and private enterprises alike often lack the necessary data security frameworks. These weaknesses were especially evident in high-profile incidents, such as the 2025 JAMB technical issues, which clearly exposed the Nigerian government’s shortcomings in cybersecurity and digital infrastructure management.

A critical system upgrade to ensure fair and accurate scoring was not installed on servers in Lagos and the South-East zone, affecting nearly 380,000 candidates across 157 centres.

This oversight failed to upload candidates’ responses correctly, leading to mass underreporting of scores and widespread public outrage.

Despite JAMB’s swift admission and offer for affected candidates to retake the exam, the episode showed the urgent need for Nigeria to strengthen its cybersecurity protocols, improve operational transparency, and ensure rigorous quality control in public digital services to prevent such large-scale failures in the future.

PUBLIC AWARENESS AND POOR CYBER HYGIENE

One of the most critical issues exacerbating Nigeria’s cybersecurity problem is the low level of public awareness regarding online safety. Many Nigerians are unfamiliar with basic cybersecurity practices, such as using strong and unique passwords, enabling two-factor authentication, or recognising phishing attempts.

This widespread lack of knowledge makes individuals particularly vulnerable to social engineering attacks, which remain one of the most common and effective forms of cyber intrusion.

Luís Costa, the Research Lead at Surfshark, emphasised the importance of vigilance in the face of evolving threats.

“Cyberthreats are not disappearing; they are changing form,” he said. “Strong security practices, regular password updates, and enabling twofactor authentication remain essential for protecting both personal and organisational data.”

THE IMPACT OF DATA BREACHES ON EVERYDAY NIGERIANS

Beyond the technical statistics, data breaches have real-world consequences for Nigerian citizens. When personal data is stolen, it can be used to impersonate individuals, commit financial fraud, or even orchestrate physical crimes such as kidnapping or extortion. In some cases, criminals have used publicly available personal data to track individuals or manipulate them for monetary gain.

Moreover, the psychological toll cannot be overstated. Victims of data breaches often report feeling anxious, vulnerable and betrayed. Many lose trust in digital platforms, e-commerce sites, or government portals.

This erosion of trust represents a significant setback for a country striving to build a robust digital economy. The public’s reluctance to engage with digital platforms can slow down financial inclusion, reduce e-commerce adoption, and hinder the delivery of essential services.

BUSINESSES ON THE FRONTLINE OF CYBER RISK

The impact of data breaches is not limited to individuals. Businesses, especially those in sensitive sectors like finance and healthcare, face enormous risks. Direct financial losses from fraud, disruptions to operations, and reputational damage are just some consequences companies must contend with following a breach.

Under the Nigeria Data Protection Act (NDPA), organisations found guilty of non-compliance may be subject to fines ranging from ₦2 million to ₦10 million, or up to two per cent of their annual gross revenue. These penalties are intended to deter negligence and promote better data governance, but enforcement remains an ongoing challenge.

Additionally, the fear of reputational damage often leads companies to underreport or conceal breaches. This culture of silence only perpetuates the problem and delays remedial actions that could protect customers and stakeholders.

POLICY RESPONSES AND STRATEGIC INITIATIVES

Recognising the urgency of the situation, Nigeria has begun implementing a series of strategic initiatives aimed at improving cybersecurity. The Cybercrime (Prohibition, Prevention, etc.) Act of 2015 laid the groundwork, and its 2024 amendment introduced measures such as mandatory cyber threat reporting within 72 hours and creating sectoral

Computer Emergency Response Teams (CERTs). These teams are intended to provide rapid, specialised responses to breaches in industries such as finance, health, and telecommunications.

In addition, the National Cybersecurity Policy and Strategy, first launched in 2015 and regularly updated, provides a comprehensive roadmap for securing Nigeria’s cyberspace.

CAPACITY BUILDING AND TALENT DEVELOPMENT

Another area of focus is the development of local cybersecurity talent. The Nigerian government, in partnership with universities and private sector organisations, has launched numerous training programs and mentorship initiatives aimed at equipping young professionals with the skills needed to combat cybercrime. Workshops for law enforcement agencies, legal practitioners, and IT professionals are also being held regularly to strengthen institutional capacity. Despite these efforts, the demand for skilled cybersecurity professionals continues to outstrip supply. Experts argue that sustained investment in education, training, and infrastructure is needed to close the talent gap and build a resilient digital ecosystem.

TECHNOLOGY, COLLABORATION, AND THE PATH FORWARD

Technology will continue to play a vital role in Nigeria’s cybersecurity strategy. The government is investing in advanced threat detection platforms that use artificial intelligence and big data analytics to monitor digital ecosystems in real-time.

International collaboration is equally important. Nigeria is engaging with global partners and organisations to share intelligence, harmonise regulations, and strengthen its ability to respond to transnational cyber threats. Aligning local laws with international standards will enhance the country’s credibility and effectiveness in tackling global cybercrime. Finally, tackling corruption and ensuring compliance at all levels of government and business is crucial. Without accountability and transparency, even the best-designed policies will fail to deliver lasting results. Nigeria’s drop in data breaches in early 2025 is a welcome development, but it does not signal the end of its cybersecurity challenges. The threats are still very real and are evolving rapidly. The human, economic, and national security implications of continued vulnerabilities cannot be overstated.

The road ahead demands a concerted effort from the government, private sector, civil society, and the general public. Strengthening legal frameworks, improving enforcement, investing in talent and technology, and fostering a culture of digital safety are all critical steps toward a more secure future.

Onanuga: Federal Government Policies Creating More Opportunities for Nigerians

Eromosele Abiodun

Special Adviser to the President on Information and Strategy, Bayo Onanuga has stated that President Bola Ahmed Tinubu policies have opened new economic opportunities for Nigerians and foreign investors, despite prevailing economic challenges.

Oanuga who highlighted some of the president’s policies said despite praises from Nigerians, the International Monetary Fund (IMF) and other organisations, the president is working assiduously to improve the welfare of the critical mass of the nation’s population.

He stated this during a chat with newsmen in Lagos alongside the Special Adviser to the president on Media and Public Communications, Sunday Dare and the Presidential Media Team. The team defended the administration’s economic direction, stating that tough decisions such as fuel subsidy removal and the floating of

the naira were designed to encourage competition and unlock market potential. According to him, “Everything is not all bad for the economy, some Nigerians are actually doing well. People are taking advantage of the devalued currency to export agricultural products like cocoa, sorghum, and even Zobo (hibiscus). These exporters are making significant gains.”

He explained that interest rate and inflation should be seen in the context of a larger economic shift adding that, “There is a paradigm shift happening. We are moving to a market-driven economy. If you produce water and people stop drinking water, you innovate. That’s how markets work.”

Onanuga noted that the administration’s policies are based on globally accepted models such as the “willing buyer, willing seller” principle, particularly in the foreign exchange market. “This is how economies function around the world. We’re just aligning with

global standards,” he added.

The team also highlighted improvements in federal revenue distribution to states. “Sub-national governments are receiving more allocation than before, and many governors have confirmed this,” they said.

Responding to criticisms about fluctuating fuel prices, Onanuga said that market liberalisation was working stressing that, “Prices are becoming competitive. Importers and marketers are adjusting. This is what happens when the market is allowed to play its role.”

He also shared stories of Nigerians who have capitalized on the economic shift. “One man left his bank job to engage in agro-export. He’s doing very well. Another group is exporting Zobo and making money. These are the hidden success stories.”

The media team maintained that the economy is not in crisis but in transition, and those who can adapt are already reaping the benefits.

Calls for Domestic Financing Reforms to Unlock Africa’s Mining Potential

Oluchi Chibuzor

The President/CEO of the Regional Maritime Development Bank (RMDB), Mr. Adeniran Aderogba, has urged African nations to confront the structural and financial barriers that continue to hinder the continent’s mining sector.

Speaking during a high-level panel discussion on, “Mobilizing Domestic Capital for Africa’s Mining Sector,” at the African Development Bank (AfDB) Annual Meetings recently concluded in Abidjan, Côte d’Ivoire, Aderogba painted a sobering picture of a region brimming with mineral wealth yet stalled by systemic weaknesses that prevent meaningful development and value creation.

Aderogba highlighted four

persistent constraints obstructing the sector’s growth: a crippling shortage of early-stage capital, the absence of quality geological data, weak development activity, and a chronic lack of integrated infrastructure. These issues, he said, are not merely technical bottlenecks but foundational deficiencies that continue to blunt Africa’s competitiveness and discourage long-term investment.

“Africa’s mineral wealth is not in question — our challenge is transforming potential into productivity,” Aderogba said. “We are facing a systemic shortage of early-stage capital that discourages exploration, limits geological mapping, and stalls project preparation. Without addressing these constraints, the full value of our resources will

remain trapped underground.”

He lamented that while financial institutions on the continent are increasingly interested in value-added ventures like processing and manufacturing, the upstream segment — where mining projects are initiated and developed — remains largely unfunded due to its perceived risk. Local financial institutions, he noted, are often reluctant to fund early-stage exploration because of uncertain returns and limited mechanisms to mitigate risk. He proposed that African governments and central banks adopt a more assertive role in shaping a viable investment environment, including deploying credit enhancement tools and fiscal incentives.

Gibur to Revolutionise Nigeria’s Petroleum Trading Ecosystem

Sunday Ehigiator

In a groundbreaking move, Gibur, a cutting-edge technology platform, has officially launched in Nigeria, poised to revolutionise the country’s petroleum trading ecosystem.

The innovative platform is designed to connect all stakeholders in the petroleum trading value chain, providing a seamless, efficient, and transparent experience.

For decades, Nigeria’s fuel trade has been plagued by inefficiencies, a lack of transparency, and limited access to capital. However, Gibur’s innovative

platform is set to change this narrative by connecting marketers, stations, drivers, businesses, agents, and depots in a single, user-friendly ecosystem.

In a statement, Gibur’s CEO, Ozioma Emerem said the platform was created to sole the decades-long problem of oil marketers scrambling for buyers and capital, and drivers endless queues, while unsure if a station has fuel or if the product is good, amongst others.

According to him, “Gibur is a technology-driven, humanbacked platform built to connect the entire value chain of Nigeria’s fuel market, marketers, stations,

drivers, businesses, agents, and even depots. It is not just an app or a marketplace, it’s an operating system for fuel trade.

“A marketer might have a willing buyer but not the float to close a flash deal. Meanwhile, depots have a supply but no smart way to push real-time demand. We built Gibur to solve this, with structure, speed, and scale. What makes Gibur unique is that it doesn’t just serve one player in the fuel industry; it serves all of them. It helps people earn, grow, and scale using tools that are both digital and human.”

Rental Professionals Society of Nigeria Holds Conference

Rentals Professionals Society of Nigeria (RPSN) is set to hold its second annual conference on Wednesday, June 4, 2025, in Lagos.

President RPSN and Managing Director Jason Davids Event Limited, Mrs Taiwo Oderinlo disclosed that the conference has the theme, “The future of event rental business in Nigeria.”

Oderinlo further urged all event practitioners to attend the knowledge-packed conference.

She revealed that the conference is preceded by a roadshow on Tuesday, June 3, 2025, as the association collaborates with LASTMA and donates raincoats to the government agency as support and encouragement for the good work they are delivering.

RPSN Public Relations Officer and Chief Executive of Luxury Rentals by Berry, Bukola Uviase stated that the Keynote address will be

delivered by the Managing Director of The Tent Event Limited, Mr Soleye Hughes. She added that speakers include the Zonal Head of Lagos Mainland Providus Bank Plc, Rasheedat Adeyemi speaking on the topic, “Pricing and Profitability in the Rental business”; Group chief executive of Propella Strategy Limited, Mr Olusola Olaleye speaking on the topic, “the human side of rental, staffing, training and engagement.”

Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic

Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

L-R: Director of Special Duties, Nigerian Shippers’ Council (NSC), Moses Abere; Terminal Manager, APM Terminals Apapa, Steen Knudsen; Special Adviser to Lagos State Governor on Climate Change and Secular Economy, Titi Oshodi; Managing Director, Lagos Waste Management Authority (LAWMA), Muyiwa Gbadegesin; Head of Public Relations, Lagos Port Complex Apapa, Florence Onyelum Onweagba and Secretary to Apapa Local Government, Gibraltar Njowusi at the official launch of APM Terminals-GIVO Recycling Plant in Apapa, Lagos...recently

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Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

Kayode Tokede

A total of 10 stockbroking firms traded N2.14 trillion worth of stocks between January and May of 2025 as the domestic stock market closed positive in the period under review.

The market capitalisation of Nigerian Exchange Limited (NGX) in the first five months of 2025 has appreciated by N7.7 trillion as average investors return rose by 8.56 per cent or 8,815.61 basis

points to 111,742.01 basis points from 102,926.40 basis points it opened for trading this year.

The growth in the domestic stock market in the first five months of 2025 has been driven by demand for banking stocks amid the Central Bank of Nigeria (CBN) banking sector recapitalisation, return of foreign investors, among other factors.

The 10 stockbroking firms are: Chapel Hill Denham Securities, Cardinalstone Securities Limited,

Cordros Securities Limited, APT Securities and Funds, and United Capital Securities Limited. Others are: Stanbic IBTC Stockbrokers Limited, EFG Hermes Nig Limited, Meristem Stockbrokers Limited, Coronation Securities Limited and First Securities Brokers Limited.

These 10 stockbroking firms were responsible for 62.56 per cent of the total value stocks traded on the NG) from January to May 2025, according to released broker

performance report by the bourse. Chapel Hill Denham Securities traded stocks worth N700.88 billion or 20.49per cent of the total value traded on the NGX in the first five months of 2025.

Also in the review period, Cardinalstone Securities traded N325.62billion or 9.52per cent transactions, followed by Cordros Securities Limited with about N199.4billion or 5.83 per cent of total transaction in the period under review.

APT Securities and Funds that came fourth when it accounted for stocks worth N169.3 billion or 4.95per cent in first five months of 2025.

According to the report, United Capital Securities Limited ranked fifth when it was responsible for N159.3billion or 4.66per cent worth of stocks trade, while Stanbic IBTC Stockbrokers Limited accounted for N159.25billion or 4.66 per cent value of transactions in the period under review.

The report also shows that EFG Hermes Nig Limited traded stocks worth N145.57 billion or 4.26per cent of the total value report in the first five months of 2025. It was followed by Meristem Stockbrokers Limited which traded stocks worth N127.03billion or 3.71per cent, and Coronation Securities Limited which accounted for N83.78billion or 2.45 per cent of the total value of stocks traded on the Exchange between January and May 2025.

Business Special

NGX Group Drives Capital Market Transformation through Partnership

collaborating with other institutions, the nigerian exchange Group is transforming the nation’s capital market into an engine of progress for all stakeholders, writes Goddy egene

Amid global capital market headwinds, Nigeria’s capital market continues to show remarkable resilience, driven by structural reforms and a renewed focus on collaborative innovation. At the forefront of this transformation is Nigerian Exchange Group (NGX Group), led by Group Managing Director/CEO Temi Popoola, whose partnership-driven strategy is redefining how capital is mobilised and deployed across Africa’s largest economy.

While the capital market currently accounts for about 15 per cent of Nigeria’s Gross Domestic Product (GDP), NGX Group is working with regulators, financial institutions, and international stakeholders to unlock its full potential. The goal is to create an ecosystem where transparency, accessibility, and innovation drive sustainable, long-term growth.

global MarketS, local relevance

A pivotal moment in this transformation came when the Central Bank of Nigeria (CBN), in collaboration with NGX Group, J.P. Morgan and the African Private Capital Association (AVCA) convened institutional investors at Nasdaq’s MarketSite in New York. The “Repricing Nigeria” event provided a platform for substantive dialogue about Nigeria’s evolving investment climate, with Popoola moderating a high-level discussion on market reforms, currency management, and pathways to strengthening investor confidence. This strategic engagement, hosted at one of the world’s most technologically advanced exchanges, demonstrated how Nigerian institutions are working in concert to enhance the country’s global investment profile through concrete actions rather than rhetoric.

NGX Group’s global engagements are not mere road shows. They are fact-finding missions and strategic collaborations. In India, where over 100 million retail investors access markets through mobile-first platforms, NGX studied how to deepen participation through simplified on boarding, investor education, and low-cost entry products. Meanwhile, in Johannesburg, NGX Group’s dialogue with the JSE is shaping a pathway towards pan-African integration. With a focus on green finance, sustainability frameworks, and cross-border listings, these engagements position Nigeria as a future hub for capital mobility across the continent. The strategic through line is clear: adapt to the best practices, localise solutions, and build ecosystems that attract both foreign and domestic capital. ngX inveSt innovation

One of the most impactful outcomes of NGX Group’s partnership approach is NGX Invest, a digital primary market platform launched in collaboration with the Securities and Exchange Commission (SEC) and other capital market stakeholders.

Since it made its debut, NGX Invest has facilitated over N2 trillion in capital raises, supporting the banking sector recapitalisation, which requires banks to strengthen their capital base in line with regulatory mandates. The

platform marks a shift from analogue, paper-based public offers to a streamlined digital environment accessible from mobile devices.

More importantly, NGX Invest has expanded the investor base, drawing in younger Nigerians who had previously been excluded from the capital market. This, in turn, is helping to reroute domestic savings into productive capital, an essential step for a country where pension assets are growing, but retail investment remains shallow.

“Market infrastructure thrives when regulators and operators share a common vision,” said Popoola. “NGX Invest represents what’s possible when we combine regulatory foresight with technological innovation and institutional partnership.

Strengthening the FoundationS oF growth

At the heart of NGX Group’s transformation agenda is a four-pillar

For ng X g roup, the next frontier is not merely building infrastructure, it is deepening institutional cooperation to ensure growth is broad-based, inclusive, and future-proof. b y championing innovation through partnerships, ng X g roup is helping to build a capital market that is not only more efficient and accessible, but also more aligned with n igeria’s long-term economic aspirations.

framework: digitalisation, global integration, financial inclusion, and sustainability. These are not abstract principles, they are being realised through deliberate, strategic collaborations.

Domestically, NGX Group is working closely with key stakeholders across the ecosystem to deepen participation and redirect long-term capital into productive sectors like infrastructure and industry. Regionally, partnerships with exchanges such as the Johannesburg Stock Exchange and the Ethiopian Securities Exchange are laying the foundations for a more connected African capital market.

Technologically, alliances with market infrastructure providers are helping deploy next-generation systems that reduce entry barriers, simplify access, and lower costs for all participants.

These efforts are not only reinforcing the structural foundation of Nigeria’s capital market they are charting a sustainable path toward resilience and inclusion.

recognition For collaborative eFFortS

The success of NGX Group’s partnership model is reflected in industry sentiment. “Popoola’s leadership in aligning NGX Group’s strategic priorities with those of regulators and market operators has been pivotal,” said David Adonri, Executive Vice Chairman of Highcap Securities. “Initiatives like NGX Invest are emblematic of what can be achieved when institutions commit to a shared vision for growth and accessibility,” he added.

Managing Director of Globalview Capital, Aruna Kebira, echoed the sentiment, pointing to the recent wave of innovations, from the launch of West

Africa’s first exchange-traded derivatives to the creation of the NGX Technology Board.

“None of these milestones happened in isolation. They were the result of sustained collaboration between NGX Group, regulators, issuers, and intermediaries. This is what a modern market should look like, cooperative, inclusive, and future-facing,” Kebira said.

the Path Forward

As Nigeria’s capital market enters a new phase, focus is shifting to unlocking deeper layers of development. Key priorities include enhancing secondary market liquidity, harnessing cross-sector collaboration to deepen market participation, and reinforcing Nigeria’s integration with regional and global capital flows.

For NGX Group, the next frontier is not merely building infrastructure, it is deepening institutional cooperation to ensure growth is broad-based, inclusive, and future-proof. By championing innovation through partnerships, NGX Group is helping to build a capital market that is not only more efficient and accessible, but also more aligned with Nigeria’s long-term economic aspirations.

The road ahead is complex, but the path is clear: when institutions work in concert, the capital market becomes more than a trading venue, it becomes an engine for national progress.

Strong SuPPort

One of the good thing being enjoyed by NGX Group is the strong support from its board, management and shareholders, without which the collaboration would have been possible.

Speaking recently at its annual general meeting, (AGM) the Group Chairman, Alhaji (Dr.) Umaru Kwairanga, commended the collective resolve of the board, management, and shareholders in steering NGX Group towards sustainable growth and innovation.

“As we navigate a dynamic and fast-evolving market environment, your unwavering support empowers us to lead decisively and capture emerging opportunities. We remain anchored on the principles of inclusivity, ambition, and disciplined execution,” he stated.

Also seaking to the business of the Exchange, Popoola, shared the Group’s strategic pivot towards building a robust private capital ecosystem to complement the existing public market framework.

“We are repositioning to tap into the growing flow of private and venture capital, providing a platform for private companies to raise funds and helping to counteract the trend of de-listings from the Nigerian capital market,” Popoola stated.

According to him, NGX Group’s approach is not merely about halting de-listings, but about ensuring the Exchange evolves alongside global market dynamics. “Rather than focusing solely on halting de-listings, we are working to ensure NGX is not left behind in this shift in preference from public to private capital,” he said.

Popoola emphasised that the Group was exploring innovative ways to capture private capital flows and provide value to companies outside the traditional listing model.

“We are positioning NGX Group not just as a platform for public equity, but as a gateway to all forms of capital. Exchanges globally are evolving in this direction, while some are experiencing de-listings, they’re also attracting significant listings and facilitating private deals that sustain overall market value,” he stated.

He further noted that NGX Group is engaging closely with the Securities and Exchange Commission (SEC) to explore institutional reforms that will enhance the market’s attractiveness and accommodate this strategic evolution.

Popoola

203

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SIGNED: MANAGEMENT

SON STAKEHOLDERS’ FORUM...

L-R: Enugu State Coordinator, Standards Organisation of Nigeria (SON), Mr. Peter Ameh; General Manager, Sales and Marketing, Mangal Cement, Mrs. Omowunmi Goriola-Oduguwa; Training Officer, Industrial Training Fund (ITF), Mr. Asogwa Stanley Chinweike; a SON official; and Quality Control and Assurance Manager, Mangal Cement, Mr. Ibrahim Bappa-Uba, during a stakeholders’ forum organized by SON in Enugu… recently

Military Neutralises Three Notorious Bandits in Plateau, Recovers Weapons

Police arrest 37 suspects for various crimes activities in Kwara, lawmaker decry insecurity

Agatu stakeholders warn against political endorsement over insecurity

Seriki Adinoyi

The Operation Safe Haven (OPSH) deployed to restore peace in Plateau State said its troops had neutralised some three notorious bandits and recovered weapons in Wase Local Government Area of the state.

This was as the Kwara State Police Command, weekend, said about 37 suspects, who had been terrorising the people of the state for various crimes activities for past few weeks have been arrested by the operatives of the command.

Also, a member of the House of Representatives Committee on Appropriation and representing Edu/ Moro/Patigi federal constituency of Kwara State, Hon. Ahmed Adamu Saba, has raised the alarm over cases of incessant attacks by bandits and kidnappers in his constituency.

But a group of stakeholders from Agatu Local Government Area of Benue State, has issued a communiqué calling on the government to intervene in the escalating insecurity in the area, and halt the swirling political endorsements for now.

A statement signed by the media information officer of OPSH, Major Samson Zhakom, stated that, "In the

early hours of 31st May 2025, troops of 3 Division/OPSH acting on credible intelligence conducted offensive operations at hideouts belonging to criminal elements along the fringes of Pinau Village in Wase Local Government Area (LGA) of Plateau State.

"During the operation, troops made contact with criminal elements terrorising the general area including Pinau-Gimbi road.

"In an exchange of fire, troops overwhelmed the criminals with superior firepower, and neutralised three of the bandits while others fled with gunshot wounds as indicated by the blood stains along their withdrawal routes.

"Troops combed the general area and recovered one AK-47 rifle and one AK-47 magazine. The recovered weapon is in custody for further action and troops are conducting follow-up operations to intercept the fleeing criminals.

"Troops will consolidate on this success, with a view to strengthening their operational capability for more robust combat operations in dealing decisively with criminals in the Joint Operations Area."

Police Arrest 37 Suspects in Kwara

Kwara State Police Command,

I Won't Leave PDP, C’River Senator Vows

Sunday

The Senator representing Cross River North Senatorial District, Senator Jarigbe Agom Jarigbe, has vowed to remain in the Peoples Democratic Party (PDP) despite the gale of defections rocking the party.

Jarigbe, in a statement by his media office, yesterday, stated that his primary duty as an elected senator was to fulfill his Social Contract with his constituents, outside his legislative function of making laws and oversight. Jarigbe, who chairs the Senate Committee on Gas, said he was not worried by the flurry of defections to the the ruling All Progressives Congress (APC), stressing that he was a PDP senator and his people were in PDP, therefore, his constituents were appreciating him in PDP.

Jarigbe, according to the statement, stated this while giving his midterm scorecard to a delegation of Cross River State Journalists Forum (CROSSJOF) led by its Interim Chairman, Franscica Ogar, at his Abuja residence.

“Our politics is local. If I go to my place and tell my people I’m

defecting, they will tell me to go but that they are not going. So, it’s about my people. My people want to stay in PDP, so whoever defects has a reason for defecting I am not to judge anybody.

"I will go with my people. My people want us to stay in PDP and I will stay with my people, that’s not because we are fighting anybody but it’s about my senatorial district and I limit myself to that,” he said.

Jarigbe emphasised that he was primarily committed to providing infrastructure facilities as well as enhance human capital development of his constituents, adding that, within the last two years, he has been able to achieve most of his Social Contract with his people.

“We are set out to represent our people. We made some promises during the electioneering campaigns and we’ve kept to those promises and it’s work in progress. Take a look at the 2024 budget, they just approved 2025 budget which is yet to be implemented. I can read out all the projects.

weekend, said about 37 suspects terrorising the people of the state for various crimes have been arrested by the operatives of the command.

The state police commissioner, Mr. Adekimi Ojo, stated this in Ilorin during a media chat on security breakthrough in the state.

He said out of the 37 arrested suspects, eight suspects were arrested in connection with the alleged missing two months old child in the state.

"The incident happened on May 25, 2025, at Zango area of Ilorin, the State capital. One Aishat Tahiru of No 9, Maiduku area, Zango, in Ilorin reported at Kulende police station a disturbing case of a missing child.

“Aishat stated that at about 21:30 hours, while observing her evening prayers, she left her two months old baby Adam Tahiru asleep on the sofa in her room. Shortly after, she instructed her daughter, Mariam, to check on her, but to her dismay, the child was nowhere to be found.

“An alarm was raised immediately prompting neighbours to conduct a search around the vicinity, but despite efforts, the baby could not be located. The matter was subsequently escalated and transferred to the state criminal investigation department, SCID, Ilorin on

May 27, 2025 for in-depth investigation," he said.

The police commissioner said during the course of the investigation, the lifeless body of baby Adam Tahiru, was discovered in a well within the same community. Following intelligence gathering and preliminary findings, eight suspects were arrested and are currently undergoing rigorous interrogation at the state CID,” he added.

Other suspects were arrested for criminal conspiracy, receiving stolen property, conspiracy to commit kidnapping, illegal possession of firearms, criminal conspiracy, aiding and abetting, culpable homicide, house breaking, among others.

House Member Raises the Alarm over Incessant Bandits, Kidnappers’ Attacks

A member of the House of Representatives Committee on Appropriation, representing Edu/ Moro/Patigi federal constituency of Kwara State, Hon. Ahmed Adamu Saba, has raised the alarm over cases of attacks of bandits and kidnappers in his federal constituency.

Saba, therefore, urged the leadership

of security agencies in the country to rise to the ugly development as the attacks had continued to take toll on the people of the constituency in the past few weeks.

Speaking with newsmen on the state of the nation in Ilorin, Hon. Saba, who stated that, he has been deeply traumatised and saddened about the development, commiserated with the families, relations and friends of the victims.

He said, "Almost two weeks ago in Tashagi community, in Edu Local Government Area, a Cattle rearer was killed in his residence, while five of his children abducted by the gunmen are nowhere to be found.”

Apart from this, the lawmaker stated that, "In Gbugbu community, along Ndeji road, another community, a petrol dealer, who was kidnapped with his manager by gunmen have not been released more than two weeks after their abduction.

"The duo victims have paid N100million as ransom to their abductees, but they are yet to be released from their den and still demanded for another N50million before they could be released from their den."

Agatu Stakeholders

Northern Governors Express

Warn against Political Endorsement over Worsening Security

A group of stakeholders from Agatu Local Government Area of Benue State, has issued a communiqué calling on the government to intervene in the escalating insecurity in the area. The stakeholders, comprising community leaders, youth representatives, and women groups, met in Otukpo, to discuss the prevailing insecurity and its impact on the community. They expressed deep concern over the persistent attacks, killings, displacement of innocent citizens, and destruction of farmlands and property by criminal elements and suspected herdsmen. The group urged the Federal and Benue State Governments, relevant security agencies, and humanitarian organisations to deploy adequate security personnel to vulnerable communities and provide relief materials to affected persons.

"We call on the government to take immediate action to address the insecurity in Agatu," the stakeholders said in the communiqué, adding: "The people of Agatu are suffering, and it is the responsibility of the government to protect them."

Fatal Accident Involving Kano Athletes

Condole with bereaved families, Kano govt Abiodun sends delegation, gives N1m to each victims’ family

Segun Awofadeji in Gombe and James Sowole in Abeokuta

The Chairman of the Northern States Governors’ Forum and Governor of Gombe State, Muhammadu Inuwa Yahaya, has expressed deep sorrow over the tragic death of 19 athletes from Kano State, who lost their lives in a fatal accident while returning from the 22nd National Sports Festival, tagged "Gateway Games 2025," held in Abeokuta, Ogun State.

Speaking on behalf of the Northern governors, the NSGF Chairman, described the incident as heartbreaking and deeply painful, stating that the entire Northern region was in grief over the loss of the young and promising athletes, who had gone to represent their state and showcase their talents on a national stage.

This was contained in a press release by the Director-General, Press Affairs, Government House, Ismaila Uba Misilli.

“These young athletes were more than representatives of Kano State;

they were shining symbols of hope and promise for our region and the entire nation.

“Their exploits at the sports festival made us proud, and their untimely deaths are a painful reminder of life’s fragility,” Yahaya stated.

He, however, extended his heartfelt condolences to his Kano counterpart, Abba Kabir Yusuf, the government, and the bereaved families of the victims.

“As a forum, we share in the grief and are committed to standing by the government and people of Kano State as they go through this dark and difficult moment.

“We pray for the peaceful repose of the souls of the deceased and for comfort to their families, teammates, and the sports community in Kano and Nigeria at large," he said.

Meanwhile, the Ogun State Governor, Dapo Abiodun, has sent a delegation to Kano State to commiserate with the government and people of the state over the loss of the athletes.

The governor also gave NI million

each to the families of the victims as initial support over the loss of their loved ones, totaling N31 million.

The delegation led by the Ogun State Deputy Governor, Mrs Noimot Salako-Oyedele, included the Secretary to the State Government, Mr. Tokunbo Talabi; the Commissioner for Sports Development, Hon Wasiu Isiaka and the Executive Secretary, Local Organising Committee (LOC), Gateway Games Ogun 2024, Dr Kweku Tandoh.

It also included the Permanent Secretary, Ministry of Sports, Comrade Lanre Ogunyinka, the Coach of Team Ogun; Idris Oguntayo; a female athlete from Team Ogun, Ms Atinuke Onabiyi, and a male athlete from the same Team, Ayomide Oyegbade.

The delegation, which arrived Kano around 9:00 am, was received by officials of the Kano State Government, led by the Deputy Governor, Comrade Aminu Abdusalam Gwarzo. Expressing Abiodun’s sense of profound personal loss over the tragic incident, Salako-Oyedele, commiserated

with the Kano State Government over the tragic incident.

“We know that the governor is out of the state on Hajj but we felt we had to be here to show our support to the governor, the government and the people of Kano State in these trying times.

“This is a devastating loss for Kano State, for the athletics community and especially for the families and friends of the individuals, who were affected by this tragic incident.

“We also pray for the speedy recovery of the other people who are in hospital at this time, who rushed to the aid of the victims at the time,” she said.

Kano State Deputy governor, while responding expressed the government’s appreciation for the visit, saying the government was not in doubt about Abiodun’s concern. He said Abiodun had earlier called to commiserate with the government and people of Kano State over the incident on Saturday.

Aborisade in Abuja

Hammed Shittu in Ilorin,

in Jos and Onuminya Innocent in Sokoto

CATCHING BREATH AT HALF TIME

disinterested interim civilian ruler. It was in 2018 that, as part of wily reelection calculations, President Buhari dropped May 29 as public holiday and transferred the honour to June 12 in order to attract South Western votes in the 2019 elections. He was lucky he got away with it because such gambit sometimes backfires. Ask President Jonathan, who in 2012 renamed University of Lagos to Moshood Abiola University, but the gambit backfired, loud protests followed and the government had to backtrack.

Feelings ahead of May 29 varied widely between first term and second term rulers. Seven state governors across the country who were elected in off-season elections did not care a hoot about May 29. Their attitude was like that of the hare which heard the shouts and drumming of a hunting expedition and said, “They are looking for antelope, not me.” Of the twenty-nine state governors in this country for whom May 29 is important, eleven are in their second terms. They have been in office for six years. According to American pundits, a governor or a president in his second term should be running for the History books, and his top concern is to leave a legacy that will continue to make an impact long after he has left office.

That is in America. In Nigeria, a second term governor is running, not so much for any Adu Boahen, Cheikh Anta Diop, Kenneth Dike, Abdullahi Smith, Yusuf Bala Usman or Ade-Ajayi authored History book but for a Senate seat, hopefully as a stepping stone to a juicy ministerial seat or even higher. At least two current second term governors are openly angling to go straight from state Government House to Aso Rock, thus leap-frogging over Senate, ministerial seat or even the Vice Presidency. A second-term governor in Nigeria has another major concern: who should succeed him in two years’ time. Anointing a successor in Nigerian politics is a very tricky art. Very few people played godfather

TWO YEARS OF

and lived to reap the fruits. Most other would-be godfathers remind me of the label one company placed on a bottle of concentrated sulphuric acid: ‘If you drink this, you will not live to regret it.’

That’s for state governors. The current President is a first termer, and many months before the referee blew the half-time whistle, it was noticeable to old political reporters like me that most of the Presidency’s actions and antics were already geared towards securing a second term. A first-term Presidency has many political advantages over first-term state governors, but it has other, major disadvantages as well compared to state governors. Beginning with the advantages, the Presidency has much more visibility; a much bigger public purse to play with; many more juicy ministerial, ambassadorial and agency head appointments to make; huge oil block licenses and billion-dollar contract [read: Lagos-Calabar coastal highway] favours to confer; control over security agencies including, allegedly, to confer safety from anti-corruption agencies; control over the national leaders of his political party and, by extension, to meddle into the affairs of its state chapters. Add to these the ability to meddle into and instigate crisis in opposition parties, as NPN did ahead of the 1983 elections and as APC is alleged to be doing now, up to and including the allegation that INEC is stopped from registering new political parties, even though APC benefitted from mid-term INEC registration in 2013. In 1983, NPN’s maneuvering stopped FEDECO from registering the opposition Progressive People’s Party [PPP] and instead registered the briefcase Nigeria Advance Party [NAP] of Dr. Tunji Braithwaite, with the [forlorn] hope that it would cut into Chief Awolowo’s South Western base. Those are some of the advantages that the Presidency has over governors in terms of maneuvering for a second term. Yet, there are serious disadvantages. To begin with, a

LAYING FOUNDATIONS

But we knew, you knew that beneath the layers of political fatigue was a sleeping giant. Our mission was clear: to wake this sleeping giant and teach it how to walk tall again. Beyond rousing a sleeping giant, we had a whole new vision. We had a bold, disruptive, and transcendent vision — one that would not merely change the statistics, but change lives. We saw a future where a mother no longer feared childbirth because skilled doctors and stocked clinics were just minutes away. Where a young man in Nsukka didn’t have to migrate to find work; Where a student no longer studied by candlelight or on empty stomach, but in digitally equipped classrooms with free school meals. We imagined goods and industry moving across smooth, safe roads. And above all, people would feel seen — not just as voters, but as citizens of a state finally awake to its purpose.

Some people thought we weren’t the ones to manage this kind of transformation — that we spoke too boldly, moved too fast, or dared too much. There were whispers that it was business as usual. Was this just another government dressed in new suit driven by old habits? Some had heard too many promises and seen too few results. They guarded their hope – and we understood that. Their doubts were the echoes of too many broken promises before us.

There was the elderly man who recalled with nostalgia how Enugu City once teemed with many industries; how youth willing to work readily found job opportunities there. I’ll never forget the sadness in his eyes as he lamented the loss of such opportunities. There was also the grandmother, who had lost two daughters and two grandchildren, because the primary healthcare centre in their vicinity couldn’t offer the needed maternity care.

These stories are real; so too were the fears. But some pushback was fuelled by plain mischief. There were others who simply did not want us to succeed, because progress would undo the comfort of old systems. They fought with doubt, with delay, and sometimes with outright sabotage. But change seeks no permission. It moves — even through resistance. We chose action over comfort, sometimes progress over popularity. Real change is not fanciful — it is hard. It

state is much easier to dominate politically than the whole country. Many states are ethnically, linguistically, religiously and culturally homogenous. Even though politicians try to play up other divides such as senatorial zones and emirates [read: Jigawa State], these pale into insignificance compared to the divides at the national level, which the Presidency tries to balance like a gymnast. Feuding at the national level between North and South, Muslims and Christians, six geopolitical zones, 250 linguistic groups, noisy opposition parties, trade unions and civil society organisations, as well as greater media scrutiny, not to mention complicating regional and international factors, are quite often impossible to reconcile. As you please one group, you alienate others. As you bend over backwards to make amends, you ignite protest from the earlier group. No president since 1999 or even before that, has been able to win support all across the country. Some sections always feel left out and are waiting for the next election.

The other problem for the Presidency is: the impact of its policies, and policy failures, comes out in much bolder relief than it does at the state level. This is perhaps inevitable because the Constitution reserves for the Federal Government exclusive powers in the areas with the greatest impact on citizens’ lives, such as security, macro-economic policy, federal roads, railways and airports, electricity, the biggest health and educational policies and projects and sometimes, foreign policy as well. A good percentage of a state’s citizens get to see the governor in person, but very few citizens ever get to see the president outside television screens. While voters in the states could support their governor’s reelection hopes based on projects executed in their localities or even for attending wedding and funeral ceremonies, voters tend to assess the Presidency based on major socio-economic policies and factors. No one blames a governor for inflation,

FOR A NEW ENUGU STATE

resists. It wounds. And, sometimes, it tests our faith. There have been many nights I barely slept – because of the weight of the decisions we must make. There are days I pause – not from indecision, but from compassion. I’m constantly asking: How will this decision affect the people? Have we thought through the consequences? It’s part of the burden of leadership. Development is necessary, but it comes with difficult choices sometimes.

We were not promised ease — only the chance to serve. And, so, we pressed on, knowing that the first step towards transformation was into the unknown, with only the light of our vision to guide us. We chose to act swiftly, because we had no luxury of time.

In our first 180 days, we restored clean water to parts of Enugu metropolis by reactivating the 9th Mile water scheme. We flagged off 71 urban and 20 rural road projects to reconnect our people and revive local economies. We brought back school feeding programme, so that our children could learn on full stomachs. We launched a digital business portal, cutting registration time because bureaucracy should never stand in the way of ambition. We began civil service reforms using digital verification, ensuring that public funds serve real workers, not ghost names.

Because security is the foundation of every other promise, we deployed a Distress Response Squad (DRS), and installed AI-embedded Security Surveillance System that has now helped reduce urban crime by up to 80%. These early achievements were statements to you. They sent a message that we are serious about delivering on our mandate.

In just two years, we have begun to rewire the foundation of Enugu State for future promise. We have constructed over 800 kilometers of roads, opening access to markets, industry, schools, and hospitals. These roads cut across urban and rural communities. No community is being left behind. And it didn’t stop with roads – we built the systems that power them.

To date, we have delivered five ultra-modern terminals across the state: Holy Ghost Terminal 1 for interstate travel with a skybridge to Terminal 2; Holy Ghost Terminal 2 for

NIGERIA: 730 DAYS LATER

what “progress” means. Safety is ultimately measured in the heartbeat that no longer races when dusk approaches. Electricity tells its own story. Nigeria’s grid capacity currently hovers between 4,500 to 5,000 megawatts on most days, barely improving from the 4,000 MW average of 2023. Yet, despite promises of improved power supply, the country experienced no fewer than seven national grid collapses between May 2023 and May 2024. Diesel now sells for over N1,500 per litre, up from about N850 in early 2023, making self-generation increasingly unaffordable.

Mini-grid interventions, particularly solar installations supported by the Rural Electrification Agency, have provided stable electricity to over 500,000 households in underserved areas, including Ogun, Nasarawa, and parts of the Northeast. But in most urban neighbourhoods, the hum of private generators remains the national anthem after sunset. Reliable power, ultimately, is best expressed not in megawatts but in refrigerators that stay cold and homework that is finished beneath a steady light bulb.

In the fight against corruption, promise and disillusion continue their tug-of-war. Televised arrests of “big men” in the government’s early months suggested no one was untouchable, but the glow dimmed as plea bargains and closed-door settlements multiplied. Anti-graft agencies complain about thin budgets while lawmakers debate fresh immunity clauses. The Economic and Financial Crimes Commission (EFCC) reported 4,111 convictions in 2024, a record number. High-profile cases, including those involving former governors and serving senators, were reopened; however, many ultimately ended in plea bargains or were delayed in court.

In October 2023, President Tinubu suspended the EFCC chairman over allegations of misconduct—an irony not lost on citizens who hoped for a cleaner era. Justice is less about dramatic arrests than about quiet transparency: a national procurement database that tracks every public contract or a judiciary that concludes cases in months, not decades.

Until the law holds the powerful to the same standard, each new anti-corruption czar will appear like the latest actor in an overplayed drama.

Macroeconomic statistics paint a fractured portrait. While Nigeria’s GDP grew at 2.98% in Q1 2024, inflation climbed to 33.69% in April 2025, its highest in nearly three decades.

The naira has depreciated by over 65% since the removal of fuel subsidies and the unification of the exchange rate. In 2023, a 50kg bag of rice sold for N35,000; in 2025, it hovers at around N75,000, and the arithmetic is merciless: a salary that rises by ten per cent in a year of thirty-per cent inflation is a pay cut in disguise.

The National Bureau of Statistics (NBS) reports that over 63% of Nigerians are now multidimensionally poor, with inflation eroding the purchasing power of even those who are formally employed. Policymakers celebrate tech unicorns and export growth in non-oil sectors, such as sesame and cocoa, yet market women judge the economy by the cost of Koko and Kosai, Garri and palm oil. An economy “on paper” does not cook Ogbono soup. Still, some green shoots poke through the cracked soil. Fintech and creative industries continue to prove that young Nigerians, when not hamstrung by policy miscues, can compete far beyond their borders. The creative economy continues to soar, with Afrobeats grossing over $1 billion globally in 2024 and Nollywood titles featured on international platforms like Netflix and Amazon Prime. Nigeria’s tech sector attracted over $1.3 billion in foreign investment in 2023 alone, with hubs in Lagos, Abuja, Enugu and Port Harcourt producing fintech solutions that serve millions across Africa.

In agriculture, agricultural technology outfits are making incremental gains in yield, and programmes like the National Agricultural Growth Scheme (NAGS) have distributed inputs to over 1.2 million smallholder farmers. However, insecurity and climate variability have stunted large-scale productivity. Food remains both sustenance and mirror: when conflict

intra-city transport; Gariki Terminal; Abakpa Terminal; and Nsukka Terminal – all ready to be commissioned.

We have allocated 33% of our budget, to education alone — surpassing even global benchmarks, because we believe that our future is forged in classrooms. Soon we will begin the rollout of 260 Smart Green Schools, equipped with digital whiteboards, science labs, and solar power — Experiential learning spaces, where children no longer dream of opportunity, but grow up learning they can create it.

Alongside this, we are building 260 fully equipped Primary Healthcare Centres across every ward, each designed with staff quarters, solar panels, and clean water. No mother in Enugu should ever again fear childbirth due to distance or neglect.

Security is the foundation of all progress. We can’t live and work if we are not safe. We have launched a state-of-the-art Command and Control Centre, deployed 150 AI-enabled security patrol vehicles, and witnessed the decline in violent crime, making it possible again to travel, trade, and sleep in peace.

In the economy, we’ve increased our internal revenue by over 600%, revived moribund assets, launched investment drives, and improved our ease of doing business while laying the groundwork for agro-industrial systems that will feed, employ, and empower.

We have equally created 300,000 hectares of Landbank to be leased to large scale commercial farmers. We have also established 200 hectares of Farm Estate in all the 260 wards in the state.

The idea is to scale up agricultural production across the value chain, both for export and the local market. No longer will agriculture seem like an afterthought.

We didn’t stop there. We completed the Enugu International Conference Centre, giving our state a place on the global stage.

And yes — we launched Enugu Air, a bold venture that will transform Enugu into a globally-connected economic powerhouse. Like every single programme and project we have conceived, Enugu Air is no flight of fancy. With it, we have given additional wings to our dreams. Given its significant economic prospects, our unveiling of Enugu Air may seem like

empties farms, and climate change scrambles rainy seasons, a plate of cooked rice becomes a fragile triumph. Decentralisation ought to bring the state closer to its citizens. Following fuel subsidy reforms, monthly FAAC allocations to states have increased by over 60% between mid-2023 and early 2025. Yet many state governments have not translated this windfall into visible improvements. For example, Niger, Enugu and Kaduna states have begun investing in technical education and road infrastructure, but local government transparency remains weak. Roads, water schemes and primary-care clinics ought to blossom in tandem, yet potholes and abandoned projects remain stubborn. Money arrives in capitals more reliably than it reaches ward level, where a broken borehole means girls trekking for hours to fetch water. The grassroots will remain neglected until public finance is matched with public accountability. Healthcare and education—the twin pillars of human capital—show modest but inconsistent progress. New primary health centres have opened, but many lack essential resources, such as drugs and nurses. The National Health Insurance Authority now allows mobile phone enrolment; however, uptake is sluggish among informal-sector workers who recall earlier deductions vanishing into bureaucracy. The National Health Insurance Authority (NHIA) expanded enrolment to over 15 million Nigerians in 2024; however, out-of-pocket health expenditure still accounts for more than 70% of total healthcare costs.

In education, initiatives like the Safe Schools Programme have secured some learning environments, but basic literacy remains alarmingly low, especially in the Northeast, where only 27% of children aged 6–11 attend school regularly. While state-level reforms in places like Ebonyi and Enugu have delivered model schools and digital classrooms, the national picture remains one of inequality and underfunding. Two years is too short to erase decades of neglect, but it is long enough to show whether reform is sprinting or simply

high cost of living, high transport fares, high cement and fertilizer prices, naira devaluation, unemployment, kidnapping, banditry, insurgency, oil theft and inter-communal clashes, all of which are seen as federal failures.

One can imagine the confusion among Presidency bigwigs as they sat down to assess whether they were doing well in the eyes of citizens as the halfway mark approached. On the one hand, there was the avalanche of congratulatory messages in newspapers, including costly wrap-around adverts, listing the government’s achievements and thanking it for jobs well done. Ahead of May 29, there was the wave of adoptions of the President as the “sole candidate” in the 2027 elections by party organs, governors and National Assembly leaders, in open violation of the letter and spirit of their own party’s constitution. It also ignored a historical truth: such advance anointments have resulted in serious crises and wrecked political parties in the past. Then also, the wave of defections from opposition parties to the ruling party must have pleased Presidency officials, even though conflict between “party natives” and “party settlers” could spell trouble in next year’s primary elections.

Much like a football coach at halftime, political leaders at Federal and state levels will make their calculations, alter their line ups, change their tactics and instruct their strikers, midfielders, wingers, defenders and goal keepers based on their understanding of where things stand in the first half. They will either be chewing gum and intently starring at the field of play like Sir Alex Ferguson, or they will be clumsily jumping up and down the field and gesticulating wildly at the players like the football legend turned coach Diego Maradona at the 2010 World Cup finals in South Africa. They will either use Half Time to catch their breath, or some of them will enter the second half still gasping for air.

the icing on the cake. But in the grand scheme of things, it is just the tip of the iceberg. For years, the real potential of the Akanu Ibiam International Airport was never fully realized. But today, thanks to your support and the partnership of the Federal Government, its full potential is coming alive. But it gets even better.

Our cargo can now move directly from the Enugu International Cargo Terminal to the world. That means tech-enabled logistics and a trading dream come true for every Igbo entrepreneur. That means our businessmen can hop on a night flight to London, Dubai, Guangzhou, and even the United States, seal a deal by noon, and return the next day. This is the spirit of 042 – bold, innovative, and proudly ours.

We have conceived a radical overhaul of our transport system. We have procured 200 CNG buses and 2,000 city taxis. Our ticketing technology will significantly reduce transport costs for families. Each electronic card purchased won’t only suffice for a single trip – but used for several trips and across routes. The tourism experience we’re creating for Ndi Enugu, and visitors alike, is mind-blowing. We’re constructing two canopy walkway – one each at the Awhum Waterfall and at the Nsude Pyramids. We have also launched a bold redevelopment plan for the Ngwo Pine Forest. This includes a 300-metre Zip Line – the first such in Nigeria. Parks and green spaces are essential to a city’s livability. Without them, cities lose their soul and are no more than concrete jungles. We are carrying out an extensive revamp of five recreational parks in Enugu City. These include Ejindu Park in Coal Camp; Ngwo and Eze Parks in Uwani; Nnaji Park in New Haven; and the Unity Park. In a few weeks’ time, these parks would be opened to the public and will be equipped with facilities like football pitches, swimming pools, basketball and lawn tennis courts, game arcades, and children’s playground. We are reclaiming a glorious history frozen in time – and prepping for even bigger glories.

NOTE: Read the full article in the online edition on www.thisdaylive.com

strolling. The good news is that the Minister of Education, Dr. Morufu Olatunji Alausa, and the Minister of Health, Dr. Muhammad Ali Pate, have demonstrated creativity and leadership in turning around these sectors in Nigeria. Social cohesion, always fragile, continues to teeter on the edge. Ethnic tension flared during the 2023 off-cycle elections in Kogi and Bayelsa while hate speech and disinformation proliferated across social media platforms. However, shared national moments—such as the Super Falcons' exploits at the 2023 FIFA Women’s World Cup and global acclaim for Nigerian creatives—continue to offer flickers of unity. The federal character principle remains contentious as calls grow louder for restructuring and a rotational presidency. Unity cannot be decreed; it is cultivated by fairness perceived, and fairness experienced.

As for the democracy dividend, surveys by NOI Polls show that while 57% of Nigerians still believe in democracy as the best form of government, only 21% say it is delivering real economic improvement. Voters who queued in the sun in 2023 were not asking for utopia; they were asking for water that runs, roads that last, jobs that pay, and leaders who listen. If those basics remain aspirations in 2025, then democracy’s moral account is deeply overdrawn. Politics loves horizons; governance must love the now. Every glowing statistic deployed at a press conference will be interrogated by the aroma in a market woman’s pot and the hum—or hush—of a factory line. The following 730 days, before the ballot, are not for campaign rehearsal but for rigorous implementation and a shrinking window to make today visibly better than yesterday. Genuine wins deserve applause. Glaring gaps demand humility. What matters now is the quiet grind of delivery—measurable, consistent, and ruthless in execution. Only then will talk of 2027 feel like anticipation and not escapism — another escape from the realities of 2025. The issues raised here will define 2027.

Nigeria Governors’ Forum, Saraki, NFF

Grieve over Deaths of 22 Kano Athletes

The Nigeria Governors’ Forum (NGF) yesterday expressed condolences to the families of the Kano State athletes, the state government, and the sports community in Kano State and Nigeria over the sad death of the state’s 20 athletes.

The affected deceased were returning from Ogun State where they participated in the just concluded 22nd National Sports Festival.

A statement issued in Ilorin by the Chairman of the NGF who also ldoubles as the Governor of Kwara State, Alhaji AbdulRahman AbdulRazaq, expressed deep sorrow over the tragic loss of several Kano athletes in an auto crash on Saturday.

The statement said, “The accident occurred as the state contingents were returning from the recently concluded National Sports Festival in Ogun State.

“We extend our heartfelt condolences to the families of the athletes, the state government, and the sports community in Kano State and Nigeria.

“We ask Allah to repose the souls of the athletes and give succour to their families at this difficult moment”.

Also, a former Governor of Kwara State, Dr Abubakar Bukola Saraki has described the death of the Kano athletes as a national loss.

A statement issued by Abdulganiyu Abdulqadir, Local Press Officer, to Dr. Saraki, a former Senate President in Ilorin on Saturday, sympathised with the government of Kano State, the Kano community and the people of the country over the incident.

He therefore prayed to Almighty Allah to grant the families of the deceased the fortitude to bear the irreparable loss.

Similarly, the Nigeria Football Federation (NFF) expressed grave sorrow and grief over the death on Saturday of 22 Kano State athletes.

“The Nigeria Football Federation and the entire Nigeria football family are in a period of mourning over the demise of these athletes in such tragic circumstances. We mourn deeply with the Kano State Government and all the good and great people of Kano State, on this sad incident” President of NFF, Alhaji Ibrahim Musa Gusau (MON) said on Sunday.

The athletes died 50 kilometres to the city of Kano when their vehicle veered off the road and crashed into a river.

“Our hearts are with their families, friends, loved ones and associates. We pray that the Almighty Allah will grant them eternal rest, and also comfort those they have left behind, as well as the Kano State Government and the people of Kano State in general.”

Paris St-Germain

the

city

team to win the Champions League on

PSG Hold Champions League Victory Parade in Paris

Paris St-Germain’s players celebrated their Champions League victory in the city on Sunday afternoon, hours after trouble broke out across France.

The Ligue 1 club beat Inter Milan 5-0 in Saturday’s finalin Munich to claim their first Champions League title.

Luis Enrique’s side held an hour-long open-top bus parade through the city, running from the Champs Elysees to the Arc de Triomphe.

There was a heavy police presence for the celebrations, following the widespread disorder in France that occurred on Saturday nightafter the match, when two people died.

A 17-year-old boy died after

being stabbed in the chest in the south-west town of Dax, while a 23-year-old man who was riding a scooter in central Paris was also killed after being hit by a vehicle.

Paris Police Prefect, Laurent Nunez, said 192 people were injured in the overnight clashes, with 491 arrests in Paris alone.

Flares and fireworks were set off, bus shelters smashed and cars torched, with much of the disorder occurring in the capital.

Twenty-two police officers and seven firefighters were injured, while 264 vehicles were set on fire.

A car ploughed into PSG fans in Grenoble in south-east

Hotshot Club Atlético River Plate Forward Targets Nigeria Team

Teen Star, Jonathan Spiff, currently playing for Club Atlético River Plate, Argentina, is currently setting his sight on playing for Nigeria despite opportunity to represent Argentina where his mother comes from.

France, leaving four people injured. All those hurt were from the same family, police said. Two were seriously injured.

PSG released a statement condemning “in the strongest possible terms the violence that occurred during the celebrations”.

First Bank of Nigeria Limited, one of the sponsors of 2024 National Sports Festival (NSF) has pledged its continuous support for youth and sports development across the country as Delta State emerge winner of the 22nd National Sports Festival which was rounded off at MKO Abiola Sports Centre on Friday.

Born to a Nigeria father by an Argentina mother, Jonathan Spiff has been making waves as he continues to bang in the goals for his club leading to another country versus country battle as Nigeria and Argentina already looking forward to caping the player.

why he want the player to represent his own country, Nigeria.

“Despite all what is happening in Nigeria, I believe we should always be patriotic,” the father said.

Apart from the player himself already revealing his preference to playing for Nigeria, his parent especially his father also explain

Oceanwave Group Boosts

The Ladies Golf Association of Nigeria (LGAN) Southern Zone Golf Tournament, slated for Benin Club Golf Section (BCGS), Edo State has been boosted with the sum of N25m by the management of Oceanwave Group.

“He want to play for Nigeria himself and it will be a thing of pride and honour for him to dorn the green white green as a player.

“I am happy that we are not

forcing him to choose Nigeria or Argentina, the decision has been his all along and it is left for the authority to seek him out.”

The country U-20 already qualified for the next FIFA U-20 World Cup in September and it remain to be seen if he will get the opportunity to be part of the team.

To finish at the top in the two-week competition, Delta State garnered a total of 126-gold , 100-silver and 111-bronze medals. Host State, Ogun came second with 93-gold, 65-silver and 80-gold medals.

Bayelsa State also gave a good account of themselves coming in third position with 92-medals, 65-silver and 71-bronze medal.

River, Edo, Lagos, Oyo, FCT, Osun and Akwa-Ibom States completed Top 10 on the winner’s final log.

understand the importance of engaging the youths by keeping them busy in positive endeavors like sports and that is why we will continue to support their development through our first@sports initiative”, he said.

Also, Pro Chukwudi Okoro of Benin Club Golf Section has been named as the golf ambassador in a sponsorship deal with Oceanwave group and will henceforth be wearing the Oceanwave group logo at all competitions.

This sponsorship package is part of the Oceanwave group’s Corporate Social Responsibility (CSR) aiming at developing the game of golf in Nigeria.

This laudable gesture being the first of its kind in the country will boost awareness and will equally encourage other companies to improve on their CSR to the society. However, the philanthropic gesture by the Chairman of Oceanwave Group, Mr Peter Omoh Dunia, has been seen by many as a breakthrough for the

game and it will help the Nigeria professionals to compete favorably with their counterparts across the world. Meanwhile, the LGAN tournament which is part of International Women’s Golf Day celebration has teed-off on May 28th while the main event is billed for June 3rd, 2025.

Speaking on the banking giant’s desire for sports and youth development across the country through its first@ sports initiative, Executive Director, Retail Banking of First Bank, Seyi Oyefeso harped on the importance of engaging the youth through regular sporting activities like the South West Games and the National Sports Festival. “At First Bank, we

Besides the National Sports Festival, First Bank, through it first@sports initiative supported the maiden edition of the hugely successful South West Games which held at the Onikan Stadium in Lagos in March and the NSF which came to a thrilling end on Friday. The bank has pledged to continue support any idea that brings athletes together while promoting national unity, sportsmanship, and excellence across the country.

Hammed Shittu in Ilorin

became

24th

parade in the French capital

Jonathan Spiff... seeking to rep Nigeria

Olusegun Alebiosu, Managing Director/CEO, First Bank of Nigeria Limited

TINUBU’S 2ND TERM REPORT ON THEIR MINDS...

L–R: Senior Special Assistant to the President on Media and Special Duties, Mr. Tunde Rahman; Special Adviser on Information and Strategy, Mr. Bayo Onanuga; Special Adviser on Media and Public Communication, Mr. Sunday Dare; and Special Adviser on Policy Communication, Mr. Daniel Bwala, during a media briefing with top media executives on Sunday at Radisson Blu Hotel, Lagos, to mark two years of President Bola Tinubu’s administration

VIEW FROM THE GALLERY

Catching Breath at Half Time

When, as pre-school children playing football in narrow alleys near our grandfather’s house, as primary school pupils playing football in dusty fields or in river valleys, and later as secondary school students playing football in grassy fields, we always looked forward to Half Time. Referees had a way of blowing the whistle to mark half time; they did it in a unique way, with a prolonged whistle, with much élan, and they point to the center of the field as they do so, meaning the ball should be kept there in preparation for the Second Half.

The team that is leading in the scores relishes half time

GUEST COLUMNIST

Right here exactly two years ago, I first spoke to you as your governor, having just sworn to both my oath of office and allegiance. That speech was the culmination of a journey that began at the Godfrey Okoye University on October 13th, 2022. It was there, under the weight of our collective hopes that we laid out a vision – bold, unrelenting, and urgent. I’m here today because accountability matters. You have placed your trust in me, and that trust comes with a responsibility to show up, to listen, and to answer for the work we’ve done. I come before you this day, humbled by your support, proud of our collective achievements, and thrilled by the prospects

BENEATH THE SURFACE

Tcoach of the leading team will be happy; he will gather his players together, congratulate them on their winning streak, point out their strengths and the loopholes they must plug in order to maintain their winning streak. On the other hand, the coach of the team that is trailing in scores at half time will be full of reproach, blaming his strikers for not striking fast enough, blaming his midfielders for not rushing forward and backwards at the same time, blaming his wingers for not making accurate passes, blaming his defenders for not marking the opponents’ strikers well enough, and blaming his goalkeeper for not diving fast enough to catch a grounder, for not jumping high enough to deflect a corner kick, and for diving too early during a penalty kick and allowing the kick taker to see an open

goal space. Both sides will juggle their tactics and reshuffle their players in order to maintain the lead or to even the scores, as the case may be.

Like football, like politics and governance. For many months, Presidency bigwigs and most of our state governors and their top aides had been glancing non-stop at the calendar towards the magic date, May 29. They must have circled it with a red marker pen. Until 2018, May 29 was a public holiday in this country, to mark the return to civilian rule after sixteen years of unbroken rule by four military dictators [one of them Draconian, one of them trickish, one of them brutal, and one of them very soft] plus one soft and almost because they believe they are winning the match and their opponents are dispirited, downcast and desperate. The

Continued on page 86

Two Years of Laying Foundations for a New Enugu State

that lie ahead.

This is our moment to take stock. Are we living up to the promises we made? Have we done right by you? Is there enough evidence in our collective efforts thus far to inspire you and rally around a future vision?

We outlined three major transformational objectives that would define this administration’s agenda for Enugu State. These objectives were ambitious, measurable, and grounded in a disruptive developmental mindset: to grow our GDP from $4.4 Billion to $30 Billion by expanding the state’s economy through industrialization, digital innovation, infrastructure development, and a more business-friendly environment; to Achieve Zero Percent Poverty Headcount Rate in the State by eliminating

poverty through social investment, job creation, education, and inclusive humane policies; to Make Enugu the Premier Destination for Investment, Living, and Tourism in Nigeria: We aimed to position Enugu as a modern, safe and attractive environment for investors, tourists, and working families.

These objectives were positioned not just as ideals, but as clear metrics of progress. What we began here was not just a new administration, but a movement — a journey of renewal.

Amid the euphoria, however, the reality was stark. When we assumed office, Enugu was a state of extraordinary people trapped in an ordinary story. A state rich in history but running on memory — a people full of potential, yet stuck in a system that had forgotten how to dream.

The economy leaned heavily on our civil service, with over 60% of our budget dedicated to recurrent spending, while innovation, enterprise, and productivity lay dormant. Fewer than 3% of businesses were formally registered, and the private sector, starved of support, barely breathed. In our hospitals, the numbers told a quiet tragedy: infant, under-5 and maternal mortality rates at unacceptable levels — too many lives lost and futures ended before they began. In many communities, security was a promise still waiting to be kept. The taps were dry, the roads broken, and the trust between people and government worn thin.

Continued on page 86

Nigeria: 730 Days Later

wo years can feel both fleeting and painfully long in Nigeria. Seven hundred and thirty dawns have rolled across the savannah, the creeks, and the sprawling megacities since the last electoral hoopla promised a national rebirth. We now stand midway between ballots, yet conversation in Abuja’s corridors is drifting toward 2027 slogans when democracy must earn its keep in the seasons between elections. The urgency of the next campaign should be postponed until we have addressed the daily audits posed by breadwinners, commuters, farmers, and students who have lived through every one of those

730 days. This daily audit includes answers to the following questions: Are Nigerians better off now than they were in 2023? Is the economy better off now than in 2023? Has there been a measurable decrease in terrorism, kidnapping and violent crime rates since 2023? Are we better off with electric power today than we were in 2023? Do Nigerians have access to more and better food than they did in 2023? ⁠Are Nigerians more united today than they were two years ago? Are more resources being allocated to local and state governments today, and how does this affect development at those levels? Do more Nigerians have access

to quality education and healthcare today? Has corruption been reduced? Are laws applied equally to all citizens, including government officials? Until those who occupy offices sincerely answer these questions - we cannot talk about progress. These are not just statistics, but the daily realities of the average Nigerian.

Let’s start with the matter of feeling safe. Guns have fallen silent in a few long-suffering districts while new flashpoints have erupted elsewhere. One can cite downward-trending incident charts in Zamfara or Katsina but also point to the resurgence of mass kidnappings on the Abuja–Kaduna axis and plateau –Benue axis. According to data from SBM

Intelligence, Nigeria recorded over 3,600 abductions between May 2023 and April 2025, with the North-West and North-Central zones remaining the most affected. Yet, in areas like Borno and Yobe, incidents of Boko Haram violence have significantly decreased, thanks in part to renewed counter-insurgency strategies and regional collaborations under the Multinational Joint Task Force. The grandmother who now sleeps with both eyes shut in her Borno village may indeed feel progress, but the family still cobbling together ransom money in the South-East wonders

Tinubu