MONDAY 5TH OCTOBER 2025

Strike: Dangote Refinery Lauds Tinubu, Ribadu, Ajayi, Others over Roles in Settling Dispute

Describes PENGASSAN as anarchists, oligarchs, agents of darkness Some NMDPRA branch members accuse PENGASSAN leaders of dictatorial tendencies

Emmanuel Addeh in Abuja

The Dangote Refinery has praised President Bola Tinubu, the National Security Adviser (NSA) Nuhu Ribadu and the Director General of the Department of State Services (DSS), Oluwatosin Ajayi, over

their roles in ending what it described as the ‘disruptive’ activities of the Petroleum

and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Besides, the management of the refinery in a statement

UNOCT Invites Jimoh Ibrahim to Global Conference on Counter-terrorism...

www.thisdaylive.com

CONNECTING

WITH NIGERIA’S NEXT GEN...

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso (centre), is flanked by select students of the University of Lagos after a meet-and-greet session ahead of the inaugural edition of the CBN Governor’s Lecture, organised as part of the Bank’s Knowledge Acceleration and Thought Leadership Initiative, held at Lagos Business School on Friday

Uncertainty as US Delays on AGOA Renewal, UN Expresses Worry

Emmanuel Addeh in Abuja

There's mounting uncertainty over the delayed renewal of the African Growth and Opportunity Act (AGOA) by the Donald Trump-led

Continued on page 5

NUPRC Releases 4-year Scorecard, Nigeria's Rig Count Jumps

Says 400 dormant oil fields identified, quick actions to follow

N358.6bn remitted to host oil communities

Sahara Group targets 350,000 barrels per day oil production, acquires seven rigs

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

762% to 69 as one of its highpoints, the geometric rise in Nigeria's rig count from a low of eight in 2021 to 69 as of October 2, 2025.

Rig count is a key indicator for assessing the health and future production

Continued on page 5

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday published a list of 16 high impact achievements four years after its establishment, listing – Page 32

Science Minister, Uche Nnaji, in Messy Certificates Forgery Scandal...Page 33

CARTIER’S THREE-DAY WORKING VISIT TO NIGERIA...

L–R:

Hussein Younsi, Jennifer Obayuwana, and Maud Rinaldi during Cartier’s three-day working visit to Nigeria, which included an exclusive tour of Polo Luxury boutiques in Lagos and the newly unveiled Cartier Espace at the Transcorp Hilton, Abuja.

After Weeks of Sustained Accretion, Foreign Reserves Drop to $42.41 Billion

Analyst predicts rebound in short time

James Emejo in Abuja

After weeks of steady rise, the country’s Gross Foreign Exchange Reserves dropped to $42.41 billion on October 2, compared to $43.05 billion on September 11.

potential of the industry, investor confidence, and the demand for oilfield services. A higher rig count generally signals increased oil and gas production activity.

The NUPRC had in July announced that Nigeria's rig count rose to 46.

In a statement issued yesterday by the commission’s spokesman, Eniola Akinkuotu, the NUPRC stated that it was a testament to the renewed vigour in Nigeria’s upstream oil and gas sector.

It said the latest rig count of 69 which comprises 40 active rigs, eight on standby, five on warm stack, four on cold stack and 12 on the move, represents a 762.5 per cent increase in barely four years.

The Gbenga Komolafe-led commission noted that the number was expected to increase even further in the coming months, saying that this shows a renewed investor

US government, triggering concern from some quarters, especially the United Nations Conference on Trade and Development (UNCTAD).

The UN body has therefore warned that prolonged inaction by Washington could undermine trade stability, investment confidence, and job creation across African countries, including Nigeria, Kenya, South Africa, among others.

THISDAY's checks showed that AGOA was signed into law by the then US President, Bill Clinton, on May 18, 2000,

late yesterday characterised PENGASSAN as oligarchs who bluntly refused to accept valid court orders, pointing out that they displayed gross rascality and lawlessness.

The recent face-off between the facility and the union began when PENGASSAN accused the Dangote management of sacking about 800 workers, many of whom were either union members or had shown interest in joining the union.

On August 21, the reserves peaked at $41.05 billion, the highest level in over 44 months, demonstrating continued improvement in macroeconomic indices in recent times.

The upward trajectory had continued through September,

confidence in Nigeria.

The regulator stated that the success aligns with the charge of President Bola Tinubu that Nigeria was ready for business and that the right investment climate prevails now in Nigeria upstream as daily actioned by the NUPRC.

As part of its high impact achievements, the NUPRC said in 2022, 2023 and 2024, the commission surpassed its revenue target by 18.3 per cent, 14.65 per cent and 84.2 per cent, respectively, despite fluctuations in oil production and prices, thus contributing significantly to the nation’s economic growth.

It also cited potential investment of $39.98 billion from Field Development Plans (FDPs), noting that between 2024 and 2025 it has approved 79 FDPs, including 41 in 2024 and 38 year-to-date (YTD) 2025. This, it explained, comprises $20.55 billion in

as part of the Trade and Development Act of 2000. It was designed to deepen trade and investment ties between the United States and sub-Saharan African countries, granting eligible nations duty-free access to the US market for over 6,000 products, including agricultural goods, textiles and manufactured items.

Since its enactment, AGOA has been renewed several times notably in 2004, 2008, and 2015, each time extending its duration and expanding its scope. The most recent

before the latest decline, according to Movement in Reserves, obtained from the Central Bank of Nigeria (CBN) website..

Analysts are, however, of the opinion that economic fundamentals remained strong

2024 and $19.43 billion in YTD 2025.

It also mentioned increased crude oil production as part of the achievements in the last four years.

It added that since the inception of commission, crude oil production has increased with current average daily production of 1.65 million barrels of oil per day (Mbopd), and expected to increase further with the Project 1 Mbopd initiative which is aimed at achieving 2.5 Mbopd in 2027 compared to NUPRC commencement.

The commission equally mentioned its conduct of transparent bid rounds, saying "prior to the establishment of the commission, the licensing rounds were opaque and beclouded by political influence which made the process lack credibility. However, the NUPRC said with the support of President

renewal, signed by President Barack Obama in 2015, extended the programme for 10 years, setting its expiry date at September 30, 2025.

But hope has been dashed as the future of the Act hinged on congressional action to renew or amend it before that deadline did not happen before its expiry. This development is coming amid growing debate in Washington over its effectiveness and the changing global trade environment.

But in a document assessing the implications of the

as the reserves could bounce back from decline in a short period of time. Essentially, FX reserve movements are particularly crucial for economic stability, currency strength, import capacity, debt management,

Bola Tinubu, it transformed the process to be fully digital thereby enhancing transparency and credibility.

"It was the most transparent bid round on record in Nigeria’s upstream petroleum history as it leveraged digital technology, devoid of any human interference, in a manner adjudged to be in line with global best practices which was even attested to by the Nigeria Extractive Industries Transparency Initiative (NEITI)."

In line with the PIA 2021 and with the support of Tinubu, NUPRC said it was implementing the ‘Drill or Drop’ policy which prescribes that unexplored acreages are to be relinquished.

This is designed to ensure the optimal use of oil assets and prevent dormant fields from tying up potential reserves. The Commission said this policy successfully

stalled decision, the UN said the absence of clarity on AGOA’s future was already discouraging longterm business commitments and exposing vulnerable economies to renewed shocks.

The body urged the US Congress to expedite the renewal process, noting that further delays could erode the progress made under the two-decade-old trade pact that has served as a cornerstone of Africa–US economic relations.

Besides, African governments, businesses, among others, warned that

and overall investor confidence. Changes in the reserves could signal economic stress or health. Amid huge debt service obligations, and revenue challenges, the stability in external reserves movement, coupled with a marked

identified 400 dormant oil fields and has also propelled complacent oil companies to take quick action.

The commission also counted billions of dollars recorded in divestments by the international oil companies (IOCs) in 2024.

"From the Nigeria Agip Oil Company (NAOC) to Oando Energy Resources; Equinor to Chappal Energies; Mobil Producing Nigeria Unlimited to Seplat Energies; and Shell Development Company Nigeria Limited to Renaissance Africa Energy. The divestment is about investor portfolio re-ordering to focus on deep-offshore development", NUPRC said.

It also mentioned the regulations it developed in line with the PIA.

"To give meaning to the intent of the PIA, 2021, the commission in consultation with stakeholders has

the prolonged US inaction could disrupt trade flows, weaken investor confidence, and stall regional growth.

“Unless the African Growth and Opportunity Act (AGOA) is renewed, African exporters of agricultural products and light manufactures could face shrinking market access to the United States, undermining prospects for diversification,” the UN organisation said in the document seen by THISDAY.

A chart showing how the development would impact African nations indicated that

deceleration in inflation rate as well as Naira’s relative stability offer renewed hope for the country about better days ahead.

developed 24 forwardthinking regulations. So far 19 have been gazetted while five await gazetting. These forward-thinking regulations serve as tools for transparency and creation of enabling investment climate and benchmark best practices", NUPRC stated.

The NUPRC said it completed awards of flare sites to successful bidders under the Nigerian Gas Flare Commercialisation Programme (NGFCP), adding that the programme was aimed at eliminating gas flaring and attracting at least $2.5 billion in investments.

Also, the NUPRC noted that the Host Community Development Trusts (HCDTs) have remitted N122.34 billion in naira, while dollar contributions stand at over $168.91 million as of October

before January 2025, Nigeria paid no tariffs (0 per cent) on AGOA-eligible exports to the US. In the same vein, it stated that under the Act, about 35.9 per cent of Nigeria’s total exports to the US benefit from AGOA.

The chart also broke down which sectors would be most affected now that AGOA has ended, including: Minerals and chemicals (71 per cent) —including crude oil and related products, Nigeria’s main export under AGOA.

“Dangote Refinery is grateful to the President of the Federal Republic of Nigeria, HE Bola Tinubu, for his intervention, through his ministers and senior officials, which resulted in the abatement of the disruptive actions of PENGASSAN against the refinery.

“ Amongst the officials of the Federal Republic who worked tirelessly to roll back the lawless directives of PENGASSAN and restore sanity and order to the energy subsector were Nigeria's security chiefs,

But Dangote Industries Limited denied the accusations, insisting that the dismissals were part of a reorganisation aimed at improving efficiency and addressing internal sabotage and safety lapses. The union rejected that explanation and responded with a nationwide strike action.

made up of, the National Security Adviser, Mallam Nuhu Ribadu, the Director General of the Department of State of Security, Mr. Adeola Tosin Ajayi and the Director General of the National Intelligence Agency (NIA), Mr. Mohammed Mohammed.

“The other officials of the Federation who worked untiringly and determinedly into the wee hours of several nights to avert the declared disruption of Nigeria's energy sector by anarchists and agents of darkness included the Honourable Minister of Labour & Employment, Dr. Mohammed Dingyadi, the Honourable Minister of Finance & Coordinating

Minister of the Economy, Mr. Wale Edun, the Honourable Minister of Budget and Economic Planning, Senator Abubakar Bagudu and the Honourable Minister of State for Labour & Employment, Hon. Nkeiruka Onyejeocha.

We remain very grateful to these officials for their patriotism and national service.

“To Nigerians of all walks of life, we owe you more than a debt of gratitude. Your support for our righteous cause was both humbling and overwhelming. We heard your supportive voices and words of encouragement literally in all the street corners and media channels of Nigeria and were energized and strengthened

thereby.

“You gave us hope and reinforced our belief in the Nigerian nation and people as the backbone of our enterprise. Be assured that we would continue to work for and in your interest and persist in always protecting that interest against rent seekers, economic saboteurs and economic squatters,” Dangote stated.

The refinery thanked its loyal workers, who ensured that operations were not disrupted even for a second, maintaining that the strength of Dangote Group lies in its people and their unalloyed dedication and allegiance to its cause, mission and vision.

“You proved your

allegiance to our cause these several days even in the face of the provocative and inciting comments of and directives from detractors and naysayers who do not wish us and indeed Nigeria well. Be assured that you are treasured and will continue to be handsomely rewarded and remunerated notwithstanding the hypocritical directives and pronouncements of the enemies of Nigeria's progress and derailers of our economy,” the statement added. In the same vein, the Dangote Group, argued that it is recognised as one of Nigeria's model employers

CBN gov, Olayemi Cardoso

CPPE: Nigeria Needs Investor, Employer Protection Law Against Intimidating Regulatory Agencies, Labour Union

Dike Onwuamaeze

Following the recent move by some trade unions to cripple operations at the Dangote Petroleum Refinery, the Center for the Protection of Private Enterprise (CPPE) has called on the federal government to enact an Investor and Employer Protection Act that would provide strong legal framework for safeguarding

investors’ and employers' rights in the Nigerian economy.

The CPPE said the Act should codify the rights and obligations of investors, employers, regulators, and unions, and also prohibit unlawful actions such as intimidation, coercion, unauthorised shutdowns, and harassment of businesses from trade unions and regulatory

agencies.

It also said that the legal framework should establish penalties, damages, and restitution mechanisms for violations of its provisions.

This call is contained in a policy brief titled "Protecting Investors and Employers: A National Policy Imperative l," which was issued yesterday by the Chief Executive Officer of CPPE, Dr. Muda Yusuf.

The brief stated categorically that a robust policy response that would create a fair, predictable, and secure investment climate; protects those who create jobs; and ensures that industrial relations are governed by law, due process, and mutual respect has become imperative in the current Nigerian economic landscape. Yusuf said: "Protecting

FG to Ensure Zero Tolerance for Substandard Medical Equipment in Hospitals, Says Salako

Onyebuchi

Ezigbo in Abuja

The federal government has expressed the determination to ensure that no substandard medical equipment, devices and reagents are used in government-owned hospitals and health institutions.

It said that availability of appropriate infrastructure and quality equipment, medical devices and diagnostics are very critical to ensuring quality healthcare services to Nigerians.

Minister of State for Health and Social Welfare Dr. Iziaq Adekunle Salako stated this

at the commissioning of the national secretariat of the Healthcare Equipment and Allied Products Providers Association of Nigeria (HEPAN) in Abuja on Friday.

"To improve population health outcomes, the right diagnosis is important which is dependent on appropriate technological aids as provided by organizations.

"I invite HEPAN to rise to the challenge of downtimes in our health facilities through training and partnership with service users. The journey towards achieving zero use of substandard

medical equipment, devices, reagents require your full and undiluted commitment," he said.

He said the event signified the association's readiness to contribute to achievement of the Nigeria Health Sector Renewal Investment Initiative which is anchored on better governance, access to effective healthcare services, unlocking healthcare value chain and health security.

Salako said that unlocking the health value chain through medical industrialization is particularly relevant to organizations like HEPAN,

adding that their support would be important in driving the agenda of the Federal Ministry of Health and Social Welfare.

According to the minister, the availability of appropriate and quality infrastructure, equipment, medical devices, diagnostics is critical to the attainment of the country's healthcare agenda.

To this end, Salako said the Federal Ministry of Health and Social Welfare will like to associate and partner the private sector towards becoming self-reliant as much as possible.

89 Lawmakers Vow to Resist House Minority Leader’s Impeachment

Eighty-nine members of the minority caucus in the House of Representatives have vowed to resist the planned impeachment of Minority Leader of the House, Hon. Kingsley Chinda. The lawmakers, under the aegis of Active Minority, threw their weight behind the embattled minority leader following plans by some minority lawmakers to replace him over allegations of not providing leadership and working for the ruling All Progressives Congress (APC), being a close confidant

of Minister of Federal Capital Territory (FCT), Nyesom Wike.

But the pro-Chinda lawmakers, led by a Peoples Democratic Party (PDP) member from one of the northern states, had been meeting in Abuja ahead of the resumption of plenary

on Tuesday, October 7.

A member of Active Minority, who was privy to the meetings, spoke on condition of anonymity, saying they are prepared to counter the moves by certain interests in PDP and African Democratic Congress (ADC).

investors and employers is not a privilege but a national economic imperative. Investors mobilise capital, create jobs, and generate the tax revenues that sustain government and society.

"Without them, there can be no sustained growth, no employment, and no national prosperity."

He added: "Nigeria must, therefore, urgently institutionalise a fair, secure, and predictable business environment that protects those who take risks to create wealth.

"This is not about weakening labour unions, but about balancing rights and responsibilities to foster

sustainable economic growth, social stability, and national security."

Yusuf argued that investors and employers in Nigeria operate in an environment that is marked by uncertainty and institutional weakness despite the fact that they are the lifeblood of the country's modern economy.

According to him, "they take risks, mobilise capital, create jobs, generate tax revenues, and drive innovation. Yet, in Nigeria, their rights and investments remain inadequately protected" even though significant legal safeguards exist for workers and employees.

CBN Committed to Boosting Productivity, Strengthening Economy Against External Shocks, Says Spokesperson

James Emejo in Abuja

The Central Bank of Nigeria (CBN) has reaffirmed its determination under the leadership of Mr. Olayemi Cardoso, to boost productivity and strengthen the local economy against external shocks.

CBN Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, restated the bank’s commitment over the weekend at the CBN Special Day at the ongoing 20th Abuja International Trade Fair (AITF) with the theme, "Sustainability: Consumption, Incentives, and Taxation", which was organised by the Abuja Chamber of Commerce and Industry (ACCI).

She said achieving economic sustainability was based on a tripod - strong

financial systems, stable foreign exchange market for effective planning, and strong collaboration between the monetary and fiscal authorities.

Represented by CBN Deputy Director and Head of the Communication Management and Strategy Division, Mr. Ibrahim Abbas, Sidi-Ali noted the central bank’s efforts in these areas are producing the desired results, with external reserves reaching $43.05 billion on September 11, 2025, up from $40.51 billion at the end of July 2025. She said the CBN has continued to address pockets of macroeconomic challenges confronting the Nigerian economy, ensuring that the banking system remains robust and resilient, with most financial soundness indicators staying within their respective prudential benchmarks.

L-R: Representative of Dangote Salt, Abdulmajeed Lawal; Director-General, Abuja Chamber of Commerce and Industry(ACCI), Mr. Agabaidu Jideani; representative of Dangote Industry Limited, Hashem Ahmed; First Deputy President, ACCI, Prof Adeaoji Adesugba, and Abdurrazak Sambajo of Dangote Group, during the Dangote Special Day at the Abuja International Trade Fair…recently

Adedayo Akinwale in Abuja

SIGNING OF THE MOU ON “A WINDOW INTO THE SOUL OF A PEOPLE: 8000 YEARS OF ART”...

Alake: Let’s Make Minerals Fulcrum of Africa’s Transformative Industrialisation

Folalumi Alaran in Abuja

The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group (AMSG), Dr. Dele Alake, has called for a new vision to transform Africa from a raw mineral supplier into a global centre for mineral processing, innovation, and green industrialization.

Alake said Africa’s minerals have long powered industrialization in other regions while the continent’s economies remain underindustrialized, stressing the need to end the paradox through transformative industrial development.

Delivering the keynote

address at the African Mining Week in Cape Town, South Africa themed, "Vision & Strategy - Setting the stage for Minerals Industrialization, Dr. Alake underscored the continent's strategic role in powering the 21st-century economy through its vast mineral wealth.

He noted that Africa is home to some of the richest mineral deposits in the world, stressing that these resources are critical to clean energy, digital technologies, advanced manufacturing, and global security.

“Our youth should no longer seek jobs abroad while opportunities lie buried beneath their feet. The time

Barau to Empower 10,000 Less Privileged Persons in Kano with N200m Cash Grant

Sunday Aborisade in Abuja

No fewer than 10,000 less privileged persons across Kano State are set to benefit from a N200 million empowerment programme initiated by the Deputy President of the Senate, Senator Jibrin Barau.

According to a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, yesterday, each beneficiary will receive N20,000 under the initiative being implemented by the Barau I. Jibrin Foundation (BIJF), a philanthropic arm established by the Deputy Senate President to support education, entrepreneurship, and social welfare.

The statement noted

the selection process for the beneficiaries would begin on Thursday, October 9, 2025, with the distribution of application forms across the 44 local government areas of Kano State.

He explained that 6,500 persons would be selected from the Kano North Senatorial District, with each of its 13 local government areas producing 500 beneficiaries.

In addition, it added that 112 individuals will be selected from each of the local government areas in Kano Central and Kano South Senatorial Districts.

Part of the statement read:

“This initiative is part of Senator Barau’s continuous efforts to directly impact the lives of the less privileged in the state.

to industrialize is now. Let us set the stage for an Africa that is not just a participant in the global minerals’ economy, but a driver of its future, the minister asserted.

Throwing light on ongoing reforms in Nigeria's mining sector, the minister, represented by Permanent Secretary, Farouk Yabo, stated the nation is incentivising local beneficiation from gold refining to Lithium processing; Revoking dormant licenses to promote serious investment;

Strengthening governance and transparency to attract credible global partners, and building a national critical minerals strategy.

In a related development, the minister addressed the ministerial roundtable of the African Minerals Strategy Group (AMSG) on the sidelines of the mining week, highlighting Nigeria's efforts to create a $1 trillion economy by 2030.

His words, " We are investing in digitizing

mining processes from data accessibility to mineral traceability. We are also focusing on bequeathing strong institutions and the right policies to drive reforms, hence the ongoing efforts to amend the 2007 Minerals and Mining Act to provide a more robust legislative framework that will propel investments in the mining sector".

He emphasised Nigeria's commitment to ensure traceability from mining to monetization, affirming that

the nation's minerals are set to come from two sources: licensed holders or a seller and supplier buying from Artisanal and Small-scale Miners (ASM) who are registered and formalized. Echoing the sentiments expressed by the Democratic Republic of Congo (DRC), Alake stressed that African countries must prioritize mapping their mineral resources to better understand the location and scale of deposits.

First Lady: We Must Confront Shortage of Teachers By Investing in Growth of Educators

Describes teachers as true heroes, shaping minds and guiding generations

Wife of the President, Senator Oluremi Tinubu, has canvassed the need for all stakeholders in the education sector to confront the issue of shortage of teachers by investing in the growth of educators.

The First Lady, in a

message issued on Sunday to commemorate this year's World Teachers' Day, described teachers as true heroes, shaping minds and guiding generations.

Mrs Tinubu, in the fiveparagraph message stated, inter alia: "On this World Teachers’ Day 2025, with

the theme “Focusing on the Global Teacher Shortage”, calls for the need to draw more attention to one of Society’s nobless professions.

"The shortage of teachers is a challenge we must confront with urgency, by empowering educators, investing in their growth, and inspiring more

to join this noble profession. "Teachers are true heroes, shaping minds, nurturing dreams, and guiding generations.

"As a lifelong teacher myself, I salute you all on this Special Day. "Happy World Teachers Day 2025."

UNOCT Invites Jimoh Ibrahim to Global Conference on Counter-terrorism

Emmanuel Addeh in Abuja

The United Nations Office of Counter-Terrorism (UNOCT) Programme Office on Parliamentary Engagement in Preventing and Countering Terrorism is set to hold the Global Parliamentary Conference on Counter-Terrorism and the Prevention of Violent Extremism between October 7 and 8 2025, in Istanbul, Republic of Türkiye.

To this end, the UNOCT has extended an invitation to the Senator Representing Ondo South Senatorial District, Jimoh Ibrahim, explaining that his contribution will add significant value to the discussions and outcomes.

A joint letter by the African Parliamentary Union Secretary-General, Idi Giado Boubacar, and Officer-in-Charge, Special Projects, and Innovation

Branch, UNOCT, said the programme will hold with the support of the Shura Council of the State of Qatar.

It stressed that the Conference will bring together parliamentarians from across the world, representatives of parliamentary assemblies, United Nations entities, civil society, and academic experts to strengthen parliament-led responses to evolving terrorist threats.

“I have the honour

to inform you that the United Nations Office of Counter-Terrorism (UNOCT) Programme Office on Parliamentary Engagement in Preventing and Countering Terrorism, with the support of the Shura Council of the State of Qatar, will convene the Global Parliamentary Conference on CounterTerrorism and the Prevention of Violent Extremism on 7-8 October 2025, in Istanbul, Republic of Türkiye.

Deji Elumoye in Abuja

L-R: Professor. Frank Ugiomoh; Chief Technical Consultant, Crimson Fusion Curators, Mr. Oriiz Onuwaje; Chief Curator, Crimson Curators, Mr. Olugbile Holloway; and Director-General, National Commission for Museums and Monuments (NCMM), Mrs. Nkechi Adedeji, during the signing… recently

Congratulations, ExYourcellency!!!

His Excellency,

Katsina State MALAM DIKKO UMARU RADDA, PhD CON

Executive Gover nor,

WMalam Dikko Umaru Radda, PhD CON the Executive Gover nor of Ka tsina Sta te, on his well-deser ved confer ment of the prestigious Golden Award of Excellence for Educa tion and Teacher Friendliness by the National Leadership of the Nigeria Union of Teachers (NUT).

Your Excellenc y, this honour celebrates your commitment to education refor m, genuine passion for teac hers' welfare and immeasurable impact your administration has recorded in Katsina. We celebrate this milestone with you and pray for continued wisdom, strength, and Divine guidance as you lead Katsina to greater heights.

Signed: COMMITTEE OF FRIENDS

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

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

floor of the Nigerian Stock Exchange.

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

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 02 October 2025, unless otherwise stated.

Offer price:

INTERVIEW

Adedeji: : New Tax Regime Will Usher Unprecedented Opportunities for Economy

As Nigerians await the implementation of key reforms in the tax system in January, albeit with mixed expectations, Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, promises a bouquet of possibilities both for individuals and corporate institutions and the economy at large. In this interview commemorating two years of his stewardship at the Revenue House, he said with the new dispensation, President Tinubu had fulfilled his election promise to people, particularly in the aspect of removing impediments to the business environment. Among other things, Adedeji also spoke about FIRS’ achievements since he took over the helm of affair, and efforts to further improve the country’s tax-to-GDP ratio, currently at 13.5 per cent to 18 per cent as well as enhance government’s fiscal position for national development. Excerpts

It is two years since you took over as chairman of the Federal Inland Revenue Service (FIRS). How has the journey been and what would you give as your achievements in the agency?

When we set out on this journey, our mind was set on reforming the fiscal landscape of Nigeria and consequently changing the revenue structure of the Federation. To the glory of God, two years on, the figures are justifying that the reforms we embarked upon were the right steps to take. Let me start from the latest evidence, for the first time the three tiers of government shared a record monthly allocation in excess of N2trillion. States and local government councils are now more empowered to carry out their responsibilities to Nigerians in their domains. Nearly 70 per cent of what the three tiers of government gather every month to share comes from tax revenue collected by FIRS. This is an eloquent testimony to the reforms spearheaded by President Bola Ahmed Tinubu. So, all credits must go to the president for the courage he has demonstrated in leadership by setting the economic fundamentals right in order for the reforms to bring plenty fruits and gains for the Federation. By removing subsidy on petrol and collapsing the hitherto dual exchange rate windows, floating the Naira consequently, the health of the Federation account has blossomed greatly, as there are no bogus subsidy claims that would naturally have depleted the accruals into the pool. In addition to these, the President in his inaugural speech, promised to make his industrial and economic policy one that will remove hurdles in the way of businesses. As a follow up to that, he set up a committee which worked so hard with other stakeholders to bring about the new tax laws that will go into effect from January next year. This is the best thing that has happened to Nigeria’s fiscal ecosystem since Independence in 1960. The President has fulfilled his promise to make businesses flourish by removing all burdens and hurdles. This has been done with the new tax laws which will eliminate multiple taxes. The president said we should not have more than single digit tax types and that has been achieved now. The various tax laws which are scattered in several legislations have now been consolidated and streamlined into a single document. Tax is not easy to collect anywhere in the world and it will be made more difficult if taxpayers go through unnecessary hurdles before they can pay taxes. The fact that these laws were scattered in various legislations gives room for different applications and make compliance cumbersome. But all that is history now. Perhaps the biggest deal for Nigerians is that food, education, shared transportation, agriculture are going to be VAT-free. This will have positive effect on more than 80 per cent of Nigerians. This is in addition to the tax adjustment of personal income of those in the low-income brackets. Small businesses with turnover of N50 milllion will not pay tax. All these go to show that

President Tinubu is a compassionate leader who knows there the shoes pinch for businesses. A more business-friendly environment has now been created with these new laws.

As an agency, FIRS has grown in leaps and bounds in the last two years. Carrying out the president’s mandate, we re-structured our internal operations from the functional tax typologies to a customer-centric approach. Now, all tax types are paid at a one-stop shop. How do I mean? We put the taxpayers into the emerging tax, medium and government tax as well as large tax buckets. The categorisation is done according to the turnover thresholds of the companies, with those having turnover of N5bn and above in the large taxpayers’ bucket. What this means is that these companies pay all the tax types they need to pay at a single tax office which caters for their categories. We no longer have a situation where several offices or units are writing the same company and asking for different things about the VAT or CIT and so on. This has engendered a shift in the mental geography of our staff and has seen a transition to a Federal Inland Revenue Service that is customer-focused. We are service providers to the taxpayers rather than coming across to them as a tax law enforcement agency. Non-oil tax revenue has grown exponentially and for the first time in a long while, we met and surpassed our oil and gas tax revenue target for this year, thanks to the improved security situation in the country which has energised the oil companies to grow and make profits.

Despite your praise for the President, there are those who say not much has really been achieved for the country and its citizens since he took over in 2023. How would you react to this?

Even you journalists know that it will be inaccurate for anyone to come with such claims.

Yes, the removal of subsidy on petrol created some disruptions in the living conditions of most Nigerians. Transportation costs went up, as did prices of goods and services. The disruptions can be likened to the pain of a woman in labour. After she is delivered of the baby, comfort and bliss will follow. To cushion the effect, President Tinubu came up with the compressed natural gas initiative which has seen millions of vehicles converted from petrol to CNG. CNG buses were also procured and distributed to states. From the height that it went earlier in the year, petrol price is coming down. Don’t forget that we also came up with the crude-for-naira initiative which is helping local refiners get access to crude oil in naira. The exchange rate that went up is also coming down. The FX market has navigated away from arbitrage which used to be the order of the day. Foreign airlines and others were owed $7bn by Nigeria. President Tinubu came and cleared the debt. About 90% of revenue was devoted to servicing debt, but the rate has gone down to about 50% in two years. Tax-to-GDP ratio was 10% when we took over, now it is 13.5%. But that is not where we are going. We are aiming to beat Africa’s average of 15% and achieve 18% by 2027. External reserves have climbed up to $41bn from $4 billion. The Nigeria Education Loan Fund (NELFUND) created by the President Tinubu has seen almost N90bn disbursed to over 450, 000 students across the country.

There are many road projects going on and some completed across the country, covering all the six geo-political zones. These roads are opening up economic corridors across the country. Federal allocations to state have grown by almost 70%, enabling them to enjoy a great level of fiscal stability and debt management. According to the figures from DMO, about 30 states repaid N1.85trillion in debt over 18 months. We should keep these figures in perspective when X-raying this Administration.

What is the truth about this 5% surcharge on petrol?

The problem with the people bandying this about is either that they don’t read or they read but do not understand. In my earlier comments, I said there were many laws about taxes which were scattered in various legislations, making compliance difficult for taxpayers. To remove the burden, we harmonised these laws into a single document and one of such laws is the petrol tax. The law had existed under the FERMA Act 2007 and the purpose was to use the money therefrom for road maintenance. The new law lays down the procedure for this provision to come into effect. There must be a commencement order from the Minister of Finance which will be publicly announced and also gazetted. So, it does not automatically mean that this provision will go into effect from January next year. Remember, one of the first set of reliefs President Tinubu brought to Nigerians was to remove 7.5% VAT on diesel. Is it that same president that will now impose additional cost on petrol for the citizens at this time?

Why was FIRS changed to Nigeria Revenue Service and what should taxpayers expect from the agency when it goes full throttle next year?

Let me start from what the taxpayers should expect from us. They should expect a fair tax administration that will also come without hassles. Our core mandate is simple: assess, collect and account for revenue accruing to the Federation. In doing this, we will be fairer as a tax authority and continue to provide quality service to our only customers, that is, the taxpayers. The president has done a lot in bringing reliefs to Nigerians and businesses with the new tax laws. Compliance should be easier now and of course our advocacy has been on voluntary compliance. Do the right thing at all times and don’t wait till our tax people visit your premises. If they have any issue, they should get in touch with us. With the new tax laws, evasion will be pretty difficult. Companies should be diligent in their tax planning. Those who still think they can find a way to game the system will find out that evasion or trying to cut corners will be costlier than being compliant and honest. There is one proverb in my language, “If the main course is not satisfying, there is nothing anybody can give you as a gift that will be enough.” So, if within, we cannot develop Nigeria, nobody will come and develop it for us. President Tinubu’s mantra has always been: “I’m not here to tax poverty; I’m here to tax prosperity. My government will tax the fruits of your investments and not the seeds.”

Companies are doing well and are making profits and are expanding their operations, we will benefit from their doing well. The tax rate is simple. If the base is 10, we will have three. If the base increases to 20, we will have six. If the base increases to 30, we will have nine. So, if I want to have more, it’s not by going on an aggressive revenue drive. It is to help the companies to do well and that is when I will do well too. So, that is why, for us at Nigeria Revenue Service, we are here to remove all the hurdles in the way of our taxpayers. This is what President Tinubu has done with the new tax laws. He has fulfilled his electoral promise and we should all commend him for being a promise keeper.

On why we are changing from Federal Inland Revenue Service to the Nigeria Revenue Service, the word federal in the name of the agency gives the erroneous impression that we are only collecting tax revenue for the federal government. When you say ‘Inland’, it wrongly means we are only collecting money from Nigeria, which is not what we are doing. I will give you examples. We collect VAT, 90% of which is for states. When you therefore say ‘federal’, it means we are not representing what we do. The new name, NRS, shows we are the sole tax authority for all revenue collection for the Nigerian federation according to our laws.

Adedeji

26 Years On, Legislative Arm Fails to Meet Citizens’ Expectations

after 26 years of uninterrupted democracy, Nigeria’s legislative arm has passed landmark laws and occasionally checked executive power, yet oversight remains weak, constituency representation inadequate, and gender inclusion minimal. Despite progress, the National assembly still struggles to meet citizens’ expectations of accountability, responsiveness, and inclusivity. Sunday Aborisade reports.

Twenty-six years after Nigeria’s return to democracy, the National Assembly remains one of the most visible symbols of the country’s democratic experiment. The legislature was restored in June, 1999 as part of the 1999 Constitution of the Federal Republic of Nigeria after years of military decrees and authoritarian governance.

Its existence is supposed to embody checks and balances, provide a platform for citizens’ voices, and act as a shield against executive excesses. But a quarter of a century on, the question that dominates public discourse is whether this institution has truly lived up to the expectations of Nigerians who longed for a representative democracy. The record is mixed, combining moments of courage and reform with deep-seated weaknesses, contradictions, and failures.

Human rights lawyer, Femi Falana (SAN) has been one of the sharpest voices pointing out the legislature’s failings. He often stresses that the National Assembly suffers from a fundamental lack of institutional memory, where successive assemblies fail to build on prior work and instead repeatedly reintroduce similar bills and reforms. To him, this undermines progress and wastes scarce national resources. Beyond legislative recycling, he has consistently called out the Assembly for failing to enforce compliance by state governments with critical federal laws such as the Compulsory Free Universal Basic Education Act and the Child Rights Act. According to him, the legislature is content with passing laws on paper while ignoring the hard work of ensuring implementation, leaving millions of children out of school despite constitutional guarantees.

Falana also spares no words in criticising what he considers insensitive and wasteful appropriation by lawmakers. At different times, he has condemned the purchase of luxury vehicles and the approval of large sums of money as “palliatives” for members, even as ordinary Nigerians face grinding poverty. He equally challenges what he sees as legislative

overreach, accusing the Assembly of sometimes straying beyond its constitutional mandate, citing the controversial Hate Speech Bill as an instance where it sought to legislate on matters outside federal competence.

Civil rights activist, Aisha Yesufu, had on several instances, taken a different but no less scathing angle. For her, the very structure of Nigeria’s legislature is part of the problem. She had argued that the country must consider abolishing the Senate and moving to a unicameral legislature or even adopting a parliamentary system of government. Her reasoning is grounded in cost, efficiency, and democratic effectiveness. She often describes the Senate as a “retirement home” for former governors who did little to transform their states but now occupy prestigious legislative seats largely for status rather than service. To Yesufu, the current bicameral system is redundant and too expensive, sustaining a political elite more concerned with allowances and privileges than the hard task of governance reform.

Also, former Senator Shehu Sani, now a prominent public commentator, has also contributed to the debate, though in a broader sense. He frequently reflects on the distance between Nigeria’s democratic ideals and its actual practice. His

commentaries highlight the legislature’s weak commitment to accountability and transparency. In his view, citizens who hoped that democracy would make government more responsive have instead witnessed a system where lawmakers sometimes act more as defenders of the political class than as champions of the electorate. His interventions remind Nigerians that while the country celebrates the longevity of its democracy, the deeper values of accountability, good governance, and service remain fragile.

There are, however, achievements that even critics acknowledge. Some journalists and legislative rights advocates had at one time or the other, documented some of the legislature’s most notable moments.

The rejection of former President Olusegun Obasanjo’s controversial third-term bid remains one of the high points of legislative courage, demonstrating that at critical junctures, the National Assembly can resist executive overreach. Similarly, the passage of the Niger Delta Development Commission Act, even overriding a presidential veto, was a bold assertion of legislative independence. The institution has also been responsible for important reforms in the Fourth Republic, including the Not Too Young To Run constitutional amendment which lowered the age for elective offices, the Petroleum Industry Act which restructured the governance of Nigeria’s oil sector, and the Freedom of Information Act which gave citizens a legal basis to demand access to government

The challenge now is whether the legislative arm of government can transform itself from an institution often perceived as self-serving into one that genuinely protects the interests of citizens, strengthens the rule of law, and deepens Nigeria’s democratic culture.

records. These achievements show that despite shortcomings, the Assembly has had moments of real impact.

Over the years, legislative productivity has also increased. The 8th and 9th Assemblies in particular passed a larger number of bills than their predecessors. The legislature has experimented with innovations such as televised plenaries, more frequent public hearings, and a bill-by-bill process of constitutional amendment that avoids the all-or-nothing approach that once stalled reforms. These processes have made legislative work more visible and in some cases more participatory.

Yet, alongside these achievements lie weaknesses that continue to erode public confidence. Critics insist that the National Assembly too often acts as a rubber stamp of the executive. Some Senior Advocates of Nigeria and the Nigerian Bar Association had in the past, had to argue that lawmakers are reluctant to exercise their constitutional powers of veto override or to insist on compliance with court orders, thereby enabling executive impunity. For them, the legislature appears more concerned with preserving relationships with the presidency and the ruling party than with defending the rule of law.

The high cost of governance is another recurring charge. With bicameral chambers, massive allowances, constituency projects, and expensive administrative structures, the legislature is often portrayed as an elite club detached from the economic hardships of ordinary Nigerians. This perception deepens when lawmakers are seen approving billions for personal benefits while citizens struggle with inflation, insecurity, and unemployment. The cost problem is worsened by duplication of functions between the Senate and the House of Representatives, leading some reform advocates to suggest streamlining or restructuring the system altogether.

Akpabio

Jibrin

Kalu

FEaturEs N68bn National Arts Theatre Remodeling: CBN, Bankers’ Committee Elevate Nigeria Arts to Global Relevance

The renovation of the National Arts Theatre, now renamed Wole Soyinka Centre for Culture & Creative Arts, with N68 billion by the Central Bank of Nigeria (CBN)-led Bankers’ Committee opens a new chapter for global relevance for Nigeria’s arts and culture. The project championed by the Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee opens new opportunities for financial institutions to invest and support the Federal Government’s vision of a $1 trillion economy. Uzoma Mba reports that for the CBN Governor, Olayemi Cardoso, the investment remains one of Bankers Committee’s deliberate investment in Nigeria’s cultural future

The Central Bank of Nigeria (CBN)-led Bankers’ Committee commitment to the creative economy came to the fore on Tuesday when the Wole Soyinka Centre for Culture & Creative Arts (National Arts Theatre) was reopened in Iganmu, Lagos.

The event, attended by President Bola Ahmed Tinubu was opportunity to highlight the CBN’s commitment to private sector-led investment in the arts and culture space.

Cardoso had lauded the role of the Bankers’ Committee in bringing back the moribund national edifice back to life.

President Tinubu further directed Cardoso to float National Arts Theatre Endowment Fund that would ensure continuous maintenance of the national edifice.

“It has been a wonderful evening, and I have enjoyed myself. It is now left for Cardoso and others to put together an endowment fund, and I will contribute to it. It’s not a bad thing for us to use this opportunity to create jobs, maintain accessibility, and commitment. This place will not go dry again”, President Tinubu said.

The event was attended by the First Lady, Senator Oluremi Tinubu, Governor of Lagos State, Babajide Sanwo-Olu; the Honourable Minister of Art, Culture, and the Creative Economy, Hannatu Musawa and other dignitaries.

President Tinubu said there was no controversy in the National Theatre renaming Wole Soyinka Centre for Culture & Creative Arts, adding that he considered Prof. Wole Soyinka’s contributions to the arts and culture.

“Prof. Wole Soyinka is one of the greatest assets of the world. So, the renaming could not have gone to anyone else,” he said.

President Tinubu advised that Nigerians stop talking about Nigeria in a negative way. “Let us all come together to rebuild Nigeria. The youths should also renew their hope in Nigeria and work together for her continued greatness,” he said.

Bankers’ Committee Funding

Cardoso said the Bankers’ Committee committed N68 billion into the remodeling of the National Arts Theatre.

“The Central Bank of Nigeria, the Bankers’ Committee, the Lagos State Government, and the Ministry of Art, Culture, and the Creative Economy came together with a shared purpose to deliver this national project, with the Bankers’ Committee alone committing approximately N68 billion, not as corporate social responsibility but as a deliberate investment in Nigeria’s cultural future,” Cardoso said.

He said that the project stands as proof that when the public and private sectors unite behind a shared national purpose, there is no limit to what Nigeria can achieve.

He disclosed that 65 years after our nation’s founding, Nigeria’s creative

spirit remains alive, pervasive, and shaping global culture.

“This edifice has stood for nearly half a century as a proud symbol of our heritage. Completed in 1976 and inaugurated at FESTAC ’77, it became a beacon of African creativity and a repository of our shared history,” he said.

He said that in 2020, the Federal Government approved a landmark public–private collaboration: the transfer of the Theatre and its estate into a special partnership with the Central Bank, on behalf of the Bankers’ Committee.

“What began as an ambitious vision to reimagine an aging monument as a world-class creative hub has today become a stunning reality. The journey was not without challenges. Structural complexities, contractual issues, and even the global pandemic extended the timeline far beyond expectations,” he said.

“ This was a project especially close to the President’s heart, and it was his vision that transformed it from a restoration into a symbol of national renewal. By renaming the National Arts Theatre as the Wole Soyinka Centre for Culture and Creative Arts in July 2024, President Tinubu charted a bold course to place creativity at the heart of Nigeria’s renaissance,” he said.

Cardoso explained that the Wole Soyinka Centre is more than a renovation; it is a rebirth.

“Its iconic silhouette has been preserved while delivering world-class performance halls, cinema spaces, exhibition galleries, an African literature library, rehearsal rooms, media and medical facilities, and fully modernised infrastructure. The surrounding grounds now offer gardens, outdoor exhibition areas, upgraded access, and seamless integration with the Lagos Blue Line rail, placing culture at the heart of city life,” he said.

Nobel Laurette, Prof. Wole Soyinka, said that before the renovation of the

edifice, he thought it was irredeemable but the Bankers’ Committee made me to eat my words.

He said the Bankers’ Committee had done a great job, and brought the edifice to global standards.

He said that with the recreation of the edifice, Nigerians can now watch Africa Theatre at home instead of travelling abroad,” he said.

On his part, Governor Sanwo-Olu reflected on the deep historic significance of the event.

He described the reopening of the Theatre as more than a renovation, it was a cultural and spiritual rebirth.

He recalled that nearly 50 years ago, the same venue hosted FESTAC ’77, a pan-African celebration of culture and unity. The event, he said, demonstrated Africa’s capacity to use culture as a unifying force.

The renaming of the Theatre in honour of Wole Soyinka, he added, reflects both respect for a national icon and Nigeria’s cultural ambition on the global stage.

Sanwo-Olu highlighted the collaboration behind the transformation of the Theatre. He credited the Federal Government, CBN, Bankers’ Committee, and Lagos State for the successful execution of the project. He also noted that Lagos contributed additional land for the development and ensured direct connectivity to the Lagos Blue Line Metro, placing infrastructure and accessibility at the core of the revitalised complex.

How it started

The Memorandum of Understanding (MoU) for the handing over of the National Arts Theatre to the Bankers’ Committee by the Federal Government was signed in February 2021, and had initial completion timeline of 15 months, and estimated cost of N21.3 billion

Themed the ‘Lagos Creative and Entertainment Centre’, the project is expected to restore the glory of an iconic building by aligning most of

the fabric and equipment and facilities in the building with the aesthetics of the 21st century.

Cardoso had earlier commended the work done and the vision that has repositioned the Theatre to a world class status.

He said: “Well, firstly, it is highly commendable what we are seeing here today. One has to commend the vision and resources of the Bankers' Committee for doing this. It has been a long, hard road, and if it was not for the belief and the commitment of those sponsors, this would never be realized.”

He explained that it would have been a great disservice to the country if this was not achieved, because embedded in the theatre is a lot of the history and culture of the Nigerian people.

He said the Bankers’ Committee had a vision, and were determined to surmount all the obstacles in getting the theatre to where it is today.

“For me as a Lagosian, I grew up here, and saw this in 1977 when we had FESTAC and subsequent times, we used to come here to have different events and activities and we were very proud of what we had as Lagosians. Sadly, the edifice, which was iconic at a time, fell into a state of abandonment,” he said.

“So, to have been able to live today, to see this massive transformation to a world class structure is again a testimony to the Nigerian spirit. For those who are going to be using the edifice and those whom it is home to their profession, it is a giant step forward. It is something that we all as Nigerians should be extremely proud of,” he added.

He said the difficult work on the theatre has already been done, adding that not just the Bankers’ Committee, but all Nigerians should take pride in defending the Theatre.

“This is a very, very, very major reflection. And when you go around and you see, and some of you have toured already, you will see that a lot of our culture is embedded in the structures here. So, it is beyond just an edifice. It is what it represents.”

“Going forward, I am very certain that the partnership that has taken place between the private sector and public sector that has resulted in this, that spirit, in conjunction with the Nigerian people, will take us to the next level,” he said.

The Bankers’ Committee also, funded the prototype cluster located to the north of the National Arts Theatre, labelled the “Signature Cluster” consisting of a building each for Music, Film, Fashion and Information Technology verticals.

The main contractor for the project is Cappa & D’Alberto Limited while the Electrical Sub Contractor is being handled by Nairda Limited, and VACC Limited is in charge of the Mechanical Sub Contractor.

NOTE: Story continues in the online edition on www.thisdaylive.com

Cardoso

Nigeria at 65: All Hands on Deck for a Greater Nation

Nigeria’s 65th Independence anniversary arrives at a time of both turbulence and possibility, as the nation grapples with deepening economic hardship, chronic refinery failures, security concerns, and the lingering scars of police brutality, even while citizens prepare for the political battles of the 2027 elections. Yet beneath these trials lies a resilient spirit, as seen in the country’s vibrant youth, cultural pride, and the determination of private players like Dangote Refinery striving to reshape critical sectors. This year’s theme, ‘All Hands on Deck For A Greater Nation’, underscores the urgency of unity, reminding Nigerians that the task of nation-building cannot be left to government alone but requires the commitment of every citizen. Sunday Ehigiator reports

When on October 1, 1960, the Union Jack was lowered and the green-white-green flag hoisted, it signified the end of colonial rule from the British and the birth of Africa’s most populous nation.

The years since have been marked by triumphs and turbulence: civil war, coups and counter-coups, economic booms and busts, democratic transitions, and the resilience of a people who refuse to give up on their country.

Now at 65, this year’s theme, ‘All Hands on Deck’, could not be more fitting as Nigeria stands at a crossroads where unity, sacrifice, and renewed vision are urgently required given the exacerbating challenges of economic hardship, insecurity, refinery inefficiencies, police brutality, political jostling, and a citizenry weary of promises unmet.

Yet amid these trials are stories of creativity, perseverance, and hope from farmers to tech entrepreneurs, from artists to activists, pointing to what is possible if indeed all hands are placed firmly on deck.

The Diaspora Dimension

Nigeria’s diaspora, estimated at over 15 million, plays a crucial role in the independence narrative. Their remittances, amounting to over $20 billion annually, surpass foreign direct investment and aid combined.

From doctors in the UK to tech innovators in the US, from traders in China to students in South Africa, Nigerians abroad contribute not just money but skills, networks, and reputation. Independence Day celebrations abroad symbolise both pride and responsibility.

A community leader in Toronto, Oyefeso Akinwande, said: “We may live abroad, but our roots are Nigerian. Independence Day reminds us that we must give back, whether through remittances, knowledge transfer, or advocacy for better governance at home.”

‘All Hands on Deck’ is particularly resonant for the diaspora, who understand that development is a shared duty, not a spectator sport.

The Economic Question

Nigeria’s economy casts a long shadow over the 65th anniversary. Inflation remains stubbornly high, with food inflation biting hardest. The naira has seen better days, and the cost-of-living crisis is deepening. Millions of Nigerians, particularly in urban areas, are forced to make daily trade-offs between food, transport, school fees, and healthcare.

For the government, Independence Day offers a chance to project optimism. Officials highlight reforms aimed at stabilising the currency, improving tax efficiency, attracting foreign investment, and supporting local industries. Yet for many Nigerians, the gap between official statistics and lived reality remains wide.

Markets tell a different story. At Mile 12 in Lagos, traders complain of rising wholesale costs that make it harder to stay

in business. At Garki Market in Abuja, a mother of three says she has cut down on meat consumption because it is no longer affordable, just as egg, the common man’s hope, is now sold between N300 and N500 for one. In Kaduna, farmers lament the rising cost of fertiliser and insecurity that prevents them from accessing their farmlands.

‘All Hands on Deck, ’ in the economic sense, means more than government policy. It implies private sector confidence, small business resilience, agricultural productivity, and citizen adaptability; without inclusive growth, slogans risk becoming hollow.

Values and Identity

This year, the government, through the National Orientation Agency, is set to unveil a National Values Charter, a document that defines citizenship obligations and national ethos. Officials say it will provide a common moral compass, especially for younger generations.

If properly embedded in school curricula, civic education, and public service culture, it could strengthen national cohesion. But Nigerians have heard lofty promises before. The danger is that without a consistent leadership example, the Charter risks becoming another forgotten policy.

For a country as diverse as Nigeria, with over 250 ethnic groups and multiple faiths, identity is often contested. Independence Day offers a chance to emphasise commonalities: resilience, creativity, family bonds, and faith in the future; whether these values translate into everyday governance remains to be seen.

Security and Unity

Sad as it sounds, Nigeria marks its 65th Independence Day amid a swirl of

pain, promise, and urgency. From the brutal attacks in Kwara State, where bandits recently gunned down villagers, kidnapped locals, and even killed a pregnant woman, to the northwest, where banditry is escalating.

Kidnapping for ransom is now a national epidemic. Separatist agitations simmer in the southeast, while the Niger Delta occasionally flares with threats of disruption.

The government insists it is committed to restoring peace, citing heavy investments in military equipment and regional collaborations.

Yet Nigerians remain sceptical, pointing to a widening trust gap between communities and the state.

Unity, then, is not just about rhetoric but about restoring the social contract. Citizens must feel seen, heard, and protected; as an elder statesman put it, “You cannot build unity on fear. You build it on fairness.”

Police Brutality and the Struggle for Justice

No reflection on Nigeria’s independence is complete without confronting the issue of police brutality.

The scars of the #EndSARS protests of October 2020 remain raw. Young Nigerians, who poured onto the streets then, were demanding dignity and justice, tired of harassment, extortion, and killings at the hands of those meant to protect them.

While reforms have been promised, progress remains painfully slow. Reports of unlawful arrests, torture, and extrajudicial killings continue. Families of victims still seek closure.

The police, often underpaid and underequipped, face both public distrust and internal decay.

At 65, Nigeria cannot afford to ignore this crisis. A nation that brutalises its youth risks strangling its own future.

Independence must mean safety for all citizens, not fear of uniforms. True reform will require not just training and oversight, but a cultural shift in how power is wielded, replacing intimidation with service.

For young Nigerians, Independence Day is bittersweet. They wave the flag, but they also remember friends lost to bullets. “Freedom means nothing if we can’t walk the streets without fear of those meant to protect us,” says Caleb, a 23-year-old student in Benin.

‘All Hands on Deck’ must mean not only fighting external insecurity but also transforming internal policing. Without accountable, community-based law enforcement, the gulf between citizens and the state will remain wide.

Hardship and the Cost of Living

Perhaps nothing defines Nigeria’s 65th year more starkly than hardship. Inflation has surged to historic levels, with food prices doubling or tripling within months. Transportation costs have risen sharply following the removal of fuel subsidies. Ordinary Nigerians face daily choices between eating, schooling their children, or paying rent.

This hardship is not new. In the early 1980s, Nigeria suffered an economic downturn when global oil prices collapsed. The Shehu Shagari administration imposed austerity measures, wage freezes, import restrictions, and subsidy cuts, which sparked protests. The crisis deepened under General Ibrahim Babangida’s Structural Adjustment Programme (SAP), which devalued the naira and removed subsidies. For many Nigerians, SAP meant “Suffer Always Programme.”

The 1990s under General Sani Abacha were no better: sanctions, corruption, and scarcity left citizens queuing for fuel and basic goods.

Fast forward to today, and the parallels are striking. Subsidy removal has once again sparked discontent. Currency devaluation has eroded savings. Food inflation mirrors the desperation of the 1980s. For older Nigerians, it is a painful déjà vu; for the younger generation, it is their first taste of the harsh cycles that have defined Nigeria’s economy.

The government insists the pain is transitional, promising that ongoing reforms will yield long-term benefits. But Nigerians want immediate relief. Palliatives distributed through state governments have been inconsistent, often marred by allegations of corruption. Economic hardship is more than statistics. It is the lived experience that shapes citizens’ faith in democracy; as one trader at Balogun Market put it: “Independence Day is fine, but what are we really independent from? Hunger?”

If ‘All Hands on Deck’ is to mean anything, it must include policies that not only stabilise the economy but also protect the most vulnerable from repeating history’s mistakes.

NOTE: Story continues in the online edition on www.thisdaylive.com

www.thisdaylive.com

opinion@thisdaylive.com

A MIXED GRILL FOR THE REFORMER

The outgoing INEC boss, Mahmood Yakubu, has done his bit, argues OJI ONOKO

See page 21

A COMMUNITY AT A CROSSROADS

The Atoruru health care centre in Edo is making a difference, write OFOVWE AIG-IMOUKHUEDE, CHIOMA NJOKU, EMMANUEL NYANYA AND FOLARANMI ADEOYE

See page 21

EDITORIAL WORSENING INSECURITY IN KWARA STATE

Mandela reminded us that leadership is never a solo act, but a story of associations, writes LINUS OKORIE

THE MANDELA MODEL: HOW LEADERS LEVERAGE ASSOCIATIONS

In 1964, Nelson Mandela was sentenced to life in prison. The apartheid government thought the iron bars of Robben Island would silence him, crush him, and erase his influence. But something unexpected happened. Instead of breaking Mandela, prison sharpened him. And the reason is simple: the people around him.

Mandela was never truly alone. He shared chores, conversations, and struggles with fellow inmates. These included Walter Sisulu, Ahmed Kathrada, Govan Mbeki, Raymond Mhlaba, and Mac Maharaj. They smuggled in books and studied law, politics, and philosophy. They debated strategy for hours, testing ideas, tearing them apart, and rebuilding them stronger. They even took turns to practice leadership; Sisulu mentoring the young, Mandela mediating conflicts, Kathrada bridging racial divides. They sustained one another with laughter, advice, and courage when despair loomed large.

Mandela would later call prison a “university of leadership.” It was the circle of associations inside those bars that defined him. Even his unlikely friendship with Christo Brand, a young white prison guard, carried the same lesson. Instead of hatred, Mandela chose dignity and respect. Brand became one of his lifelong friends.

Every leader’s story is, at its core, a story of associations. Who surrounds you is shaping your perspective, sharpening or dulling your vision, keeping you sane or driving you mad. Mandela endured those 27 years in prison because he had the right circle.

We love the story of the lone genius, the self-made success who pulled himself up with no help from anyone. It is a myth. Behind every leader you admire is a network of mentors, peers, advisors, critics, friends. Even the most talented leaders plateau without the right associations. Mandela is remembered as a symbol of resilience, but resilience is not forged in isolation. It is sustained in community.

Lonely leaders often burn out despite brilliance. They have no sounding boards, no accountability, no one to tell them the truth when success blinds them. Associations don’t just give encouragement; they give perspective. And perspective is the difference between a leader who survives one battle and one who wins a lifetime of wars. The circle around you does more than influence

mood. It shapes values, decisions, and vision.

Mandela’s inner circle sharpened his capacity for reconciliation long before he walked out of prison. Living shoulder to shoulder with comrades of different races, ideologies, and temperaments trained him to lead a diverse, fractured nation. The associations you keep act like a compass whose pull you may not notice each day, but over time, they determine the direction you travel. This is why associations create both blind spots and breakthroughs. Surround yourself with flatterers, and you will never see the cliff ahead. Surround yourself with challengers, and they will keep you sharp enough to scale mountains.

Mandela’s life in prison proves a truth that leaders often ignore: isolation is a slow death. Leaders who cut themselves off, whether out of pride, insecurity, or fear often lose perspective. They may hold power, but they lose clarity. Prison could have been Mandela’s tomb. Instead, it became his training ground. His associations sustained him in the darkest hours. Leaders who think they can go it alone rarely make it far. Even if they achieve success, it is often brittle, shallow, and short-lived.

If the right circle sharpens you, the wrong circle corrodes you. Toxic or unaligned relationships drain energy, breed mistrust, and distort judgment. For a leader, this is costly. History is full of examples: rulers brought down by inner courts full of sycophants, CEOs ruined by boards unwilling to challenge them, politicians surrounded by yes-men who hid the truth. The wrong associations may feel comfortable in the short term, but they sabotage growth in the long run. Mandela’s strength was not just that he built associations; it was that he built them carefully. His circle was not easy because it was full of people who challenged,

debated, and sometimes disagreed with him. This constructive friction was exactly what made it productive. So how can leaders intentionally build the kind of associations that lead to lasting impact? Here are a few principles drawn from Mandela’s example:

One, choose mentors, not just peers. Mandela leaned on Sisulu’s wisdom. Every leader need those a few steps ahead.

Two, prioritize diversity of perspective. Kathrada and others expanded Mandela’s view beyond tribal or racial divides. Homogeneous circles limit vision.

Three, invest in reciprocity. Associations work when everyone contributes— knowledge, encouragement, accountability.

Four, practice dignity. Mandela’s treatment of Christo Brand showed that even unlikely associations can become sources of strength when dignity is extended.

Five, protect your inner circle. Not everyone earns equal access. Leaders must guard their closest associations carefully.

Take ten minutes and list the five people you spend the most time with professionally and personally. Ask yourself:

Do they sharpen my thinking or dull it?

Do they encourage resilience or feed despair?

Do they align with my values or erode them?

Do they expand my vision or keep it small?

Your answers will tell you more about your leadership future than any strategy document. Mandela’s legacy is not just about courage, reconciliation, or political victory. It is about the power of associations. He proved that even in chains, a leader can grow if surrounded by the right circle. He showed that resilience is sustained in community. He reminded us that leadership is never a solo act, but a story of associations. So, the question for every leader today is simple: Who’s in your circle? And are they preparing you for survival, or for significance?

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

The outgoing INEC boss, Mahmood Yakubu, has done his bit, argues OJI ONOKO

A MIXED GRILL FOR THE REFORMER

Even in the twilight of his tenure, the Chairman of Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu is still spitting fire. Speaking to the visiting European Union (EU) Election Observation Follow-up Mission to Nigeria at his office on Thursday, September 30, he had declared: “Uncertainty over the legal framework for the election can unsettle the work of the commission as election draws nearer.” His plea to the National Assembly therefore, was to expedite action on passing amendments to the electoral legal framework. “An early passage of the law is critical to the commission’s planning for the next general election,” he affirmed.

That is vintage Mahmood Yakubu, whose thoughts on the independence of the electoral body, sanctity of the electoral process, deployment of technology, transparency and accountability, show the dynamics of a man with a clear vision of an ideal INEC Nigerians should be proud of.

At one forum, for instance, the Professor of Political History and International Studies had asserted: “INEC's loyalty is solely to Nigeria and its people, ensuring that election outcomes are determined only by the votes cast.” He had added that INEC is an umpire responsible for providing a level playing field to all and that credible elections “stem from credible managers, with results determined exclusively by eligible voters.”

It is clear from the above that the INEC helmsman was determined to make the necessary changes in order for Nigerians get their long-sought credible, transparent, free and fair elections. He spoke the right words which resonated with majority of Nigerians. His calm mien exuded confidence and his track record at the Tertiary Education Trust Fund (TETFUND) where his reforms as the chief executive left a lasting impact on the operations of the agency, was reassuring.

He was bold in making suggestions on ways and means to make INEC a more responsive body. On handling electoral violations like hate speech and financial inducement, he insists that the commission lacks the necessary capacity and training to handle them hence his suggestion of the urgent need to establish a dedicated body, the Electoral Offenses Commission and Tribunal to deal with such cases.

Indeed, for Mahmood Yakubu, reform is his watchword and innovation, his mantra. Nothing illustrates this driving force better than his single mindedness in pushing for the repeal and reenactment of the old Electoral Act. The new Act, dubbed, Electoral Act 2022 repealed the Electoral Act No. 6, 2010 and introduced far reaching changes to the management of the Electoral Body.

Specifically, it provided financial autonomy for INEC; Extended Timeframe for Election Notice; Provided early conduct of Primaries; Introduced Electronic Voting and Transmission of Results and Exclusion of Political Appointees. The changes no doubt improved the electoral process in the country.

The corollary was the introduction of hi-tech to replace the drudgery of manual operations which dogged the commission for years, making the electoral body slow, sluggish and unable to speedily respond to emerging challenges. Thus the Bimodal Voter Accreditation System (BVAS) replaced the Smart Card Readers {which was anything but smart} ensuring secure voter authentication using both fingerprint and facial recognition. BVAS was touted as the ultimate device for preventing voter disenfranchisement through PVC buying. Another innovation was the INEC Results Viewing Portal (IReV), designed to upload polling unit results in real-time. This was applauded as a game changer.

The 2023 general election during which the new technology was put to real test on the field, had mixed results – working perfectly in certain locations while failing woefully in others. The off-cycle elections that INEC conducted thereafter have however, shown remarkable improvement in the devices.

In spite of the advances the INEC chairman made in upscaling the electoral system, he earned a dubious moniker - “Mr. Inconclusive” due to the numerous inconclusive elections that took place under his watch. Some notable instances include the 2016 Bayelsa and Kogi governorship elections.

It is a tag the INEC chairman vigorously disagrees with. “First, what is an inconclusive election? It’s an election in which a winner has not emerged at first ballot, that is essentially what it is. So now you mobilize and remedy the problem and make a declaration. Is it strange in Nigeria? It’s not strange. In 2013, was the Anambra governorship election concluded on first ballot? In 2015, the governorship election in Taraba state was declared inconclusive, the commission remobilised and concluded the election two weeks later. In 2011 and 2015, the Imo governorship election was inconclusive, the commission remobilised. In 2015, Abia election was inconclusive, the commission remobilised,” he contends.

It is ironical that such a cerebral go-getter who is the first chairman of the commission to serve two terms consecutively, should have such a dubious title hanging on his neck. And for what? Sticking to the laws guiding the conduct of elections and declaration of results!

Still, Prof. Mahmood Yakubu would be stepping out with his head held high.

Onoko a journalist and media consultant, writes from Abuja. He can be reached on ojionoko2007@yahoo.com

The Atoruru health care centre in Edo is making a difference, write OFOVWE AIG-IMOUKHUEDE, CHIOMA NJOKU, EMMANUEL NYANYA AND FOLARANMI ADEOYE

A COMMUNITY AT A CROSSROADS

Situated amidst the hilly landscape and flourishing farmlands of Sabongida Ora, Owan West LGA, Edo State, the rural community of Atoruru has long been inhabited by industrious farmers, enterprising traders, and families whose lives are interwoven like the roots of the old iroko trees that shade a village square. In its early years, the Atoruru Primary Health Care Centre (PHC) stood as the community's resilient but struggling heartbeat, a place where new life entered the world, yet where many mothers and children faced preventable health challenges. Though dedicated health workers poured their hearts into service, the centre's crumbling infrastructure and scarce medicines meant care often fell short of what the community deserved. Atoruru's story mirrors Nigeria's painful healthcare paradox. In a world where maternal and child mortality casts a long shadow, 94% of maternal deaths and 95% of under-5 deaths occur in low-and middle-income countries like Nigeria; Atoruru faced a silent crisis. Globally, the Sustainable Development Goals (SDGs) seek to reduce the maternal mortality ratio (MMR) to below 70 per 100,000 live births and the under-5 mortality rate (U5MR) to below 25 per 1,000 by 2030. However, sub-Saharan Africa, which accounts for more than two-thirds of maternal deaths, struggles with social inequality, deteriorating health infrastructure, and underequipped health workers. Nigeria is one of the countries most affected, with an MMR of 993 per 100,000 live births in 2023 and a U5MR of 110 per 1,000. The country's health system is experiencing strain because of socioeconomic challenges, limited access to skilled birth attendants (SBAs), and insufficient emergency obstetric care. With an MMR of 277 per 100,000 in 2020 and a U5MR of 19 per 1,000 in 2023–20241, Edo State is a shining example of improvement, but it faces challenges in remote areas like Atoruru, where access to healthcare was previously limited. The PHC, serving 16,263 people across farming communities, had become a place of last resort.

Before the Dawn: Striving Amidst Scarcity at Atoruru PHC. Nurse Aigbogun remembers those dark days: "We would record zero ANC visits some months because women knew we had no iron supplements or malaria prevention. They would rather stay home than waste a day's farming income on fruitless travel." Before October 2024, the PHC was a shadow of what a healthcare facility should be. The data tells a sobering story of those difficult months: from January to September 2024, the facility recorded between 0 and 7 ANC first visits monthly (with alarming lows of 0 in March and just 2 in September). Deliveries fluctuated between 0 and 4 per month, leaving many mothers, like 28-year-old farmer's wife Ivie Osaigbovo to take desperate measures. "I had my last baby at home with only my mother-in-law to help," she recalls, her voice trembling.

"The clinic had no light, no water, and the midwife told us she had no gloves that day."

The immunisation records from those months reveal even deeper gaps in care. While some months saw 4-12 children fully immunised (May 2024 recorded 12), other months, like June, showed no data at all, a silence that speaks volumes about the erratic availability of vaccines. Nurse Ehiaghe Aigbogun, who has served at the PHC for about four years, remembers the frustration: "We would schedule immunisation days, only to turn mothers away because the vaccines never arrived. Watching children leave unprotected... it broke my heart every time."

The malaria prevention statistics paint an equally troubling picture. From January to September 2024, the records show no provision of Intermittent Preventive Treatment (IPT) for pregnant women or distribution of Long-Lasting Insecticidal Nets (LLINs), shocking gaps in a region where malaria remains a leading cause of mortality. Elder community leader Chief Osaro Idahosa shakes his head as he remembers, "We spend a lot of money rushing our children to other communities for treatment. The parents had gone to the PHC, but there were no malaria drugs that day."

The facility's struggles extended beyond clinical services. Stock-outs of essential medicines were frequent, with the data showing consistent stock-outs for key medications throughout 2024. Community engagement was nearly nonexistent; the records show zero outreach sessions in multiple months and only sporadic Ward Development Committee meetings.

The turning point came like the first rains after a drought. When the AigImoukhuede Foundation's intervention through the Adopt-a-Health Facility Programme (ADHFP) began in October 2024, the changes unfolded in ways both visible and profound. The facility was reborn: walls painted white, roofs sealed, and rooms equipped with delivery beds, a vaccine cold chain, and stocked shelves of antimalarials, haematinics, and LLINs. The freshly painted walls and new delivery beds were striking, but more transformative was the sudden reliability of services that communities had stopped expecting.

Ofovwe Aig-Imoukhuede is Executive Vice -Chair of the AigImoukhuede Foundation

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

WORSENING INSECURITY IN KWARA STATE Security

In the past few weeks, several communities in Kwara State have been experiencing a surge in banditry, terrorist attacks and killings, triggering fear among the populace. On 23 September, suspected terrorists launched a midnight raid on Maganiko Ndanangi community in Edu Local Government Area, abducting a woman and a teenage girl. Less than a week after, on 28 September, armed bandits murdered no fewer than 15 members of a local forest guard and others in Oke-Ode, Ifelodun Local Government Area.

The violence, particularly on communities in both Kwara North and South, has heightened tension across the state, with many residents fleeing their homes in panic. A disturbed former Senate President Bukola Saraki said Kwara is in a “precarious state, overrun by bandits, kidnappers, and killers who have waged a careless onslaught on the people”. In response to the armed attacks, the Nigerian Air Force ordered fighter jets to support ground forces and provide reconnaissance cover to aid troops in stemming the violence.

alition of Nupe group in the state noted that the poor roads in Kwara North are a boon to banditry, stressing that the Patigi–Gbugbu–Lafiagi–Tsaragi–Bacita road had become a death trap where criminals operate freely on motorbikes. Consequently, many people are being forced to relocate as a result of security concerns. The Kwara NYSC Permanent Orientation Camp at Yikpata in Edu local government area has been temporarily relocated to the Kwara State Polytechnic, Ilorin to ensure the safety and welfare of the corps members.

Kwara has joined the expanding league of states like Benue, Katsina, Plateau, Niger, and others with high criminal elements threatening the people and the peace

T H I S D AY

EDITOR SHAKA MOMODU

Kwara, the ‘State of Harmony’, is in serious distress. The state has been under siege by all stripes of criminals, who are sacking communities, killing, kidnapping families, and disrupting the socio-economic activities of the people. Many are increasingly finding it difficult to access their farms, while markets, health centres are shutting down out of fear. According to reports, more than 200 individuals from major towns in Kwara South have been kidnapped, with Ifelodun being the hardest hit. While commiserating with the bereaved families last week, Governor AbdulRahman AbdulRazaq condemned the recurring attacks, and admitted that “a lot more must be done to protect the people.”

There have also been a string of abductions and killings in Edu, Patigi, and Moro local government areas in recent weeks, underlining the growing wave of insecurity in Kwara North. A co-

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

The upsurge in violence in the state is linked to the increased reported movement of armed groups into Kwara earlier this year through northern entry points. Some of the states like Kogi and Ekiti which share borders with Kwara, and others like Ondo and Oyo are increasingly worried following the surge in violence in Kwara State. Indeed, security chiefs in Oyo, Osun, Ekiti and Ondo States said recently that they had activated various containment strategies to prevent the infiltration of their states by bandits. “Our leaders and followers should not take the issue of security for granted,” said the Alaafin of Oyo, Oba Akeem Owoade. “They should ensure urgent and immediate steps are taken to respond to current threats by consciously building a system that guarantees peace and stability, conducive to national development”.

The army headquarters has reportedly directed the general officer commanding (GOC) 2 division of the Nigerian Army, Ibadan, to relocate to Kwara to coordinate and boost military response. As it is, Kwara has joined the expanding league of states like Benue, Katsina, Plateau, Niger, and others with high criminal elements threatening the people and the peace. And as the Chief of Defence Staff, General Christopher Musa remarked last week at Jaji, the only thing the security forces must do “is to look for the bad guys and take them out.” That is the only way we can have peace.

LOCAL GOVERNMENT: THE FORGOTTEN TIER OF GOVERNANCE

When Nigeria adopted a three-tier system of government—federal, state, and local—it was meant to bring governance closer to the people. The local government councils were designed to serve as the grassroots arm of administration, addressing community needs directly and ensuring development reaches even the remotest villages. Today, however, the story of Nigeria’s local government system is one of neglect, inefficiency, and deliberate emasculation. The tier that should be the engine of rural transformation has been reduced to a shadow of itself, starved of autonomy and stripped of its constitutional relevance.

Across the country, local government councils are plagued by the same challenges: poor funding, corruption, lack of transparency, and political interference from state governments. The constitutional provision that allocates funds directly to local governments has been circumvented through the creation of “joint accounts,” where state governments

receive and control federal allocations meant for councils. In practice, this has made local governments financially dependent, leaving chairmen with little more than salaries for staff and token amounts for minor projects. Developmental initiatives such as building schools, markets, rural roads, and health centers—which should be the core of local government activities—are neglected or abandoned. The effect of this dysfunction is visible in rural communities. Villages remain cut off by impassable roads, primary health centers lack drugs and staff, schools are dilapidated, and basic sanitation facilities are absent. Citizens, who should have their first contact with governance at the local level, are left to fend for themselves. Instead of grassroots empowerment, local governments have become little more than administrative appendages of state capitals. This erosion of relevance has widened the gap between government and citizens, fueling distrust and alienation.

Political interference remains one of the biggest obstacles to functional local government administration. In many states, governors exercise excessive control over councils by handpicking chairmen and councilors, often through manipulated local government elections. The result is a culture of patronage where loyalty to the governor is more important than service to the people. Councils become political reward centers rather than engines of development. In states where local elections are conducted at all, ruling parties typically win every seat, raising doubts about fairness and accountability. The lack of autonomy for local governments has been a recurring issue in Nigeria’s constitutional debates. Calls for restructuring and constitutional amendments to guarantee direct funding and independence for councils have often been resisted by state governments. Laraba Amos, Dept of Mass Communication, University of Maiduguri

This Week In Tech

More Money, More Worries: FAAC Windfall Lifts States, LGs, But Inflation Looms

Nigeria’s three tiers of government shared a total of N2.225 trillion in August 2025, marking the highest monthly allocation in history.

The distribution from the Federation Account Allocation Committee (FAAC) reflects the steady recovery of government revenue since June, offering more funds for states, local governments, and federal projects. Citizens benefit from a stronger fiscal capacity, which enables improvements in infrastructure, public services, and social programs.

According to Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, this increase stems from higher collections from Oil and Gas Royalties, Value Added Tax (VAT), and Common External Tariff (CET) levies. “The rise in revenue enables governments to meet obligations and drive development at all levels,” he said.

MONTHLY FAAC TRENDS

In January, the three tiers of government shared N1.703 trillion, marking a notable 19.6% increase from December 2024. This initial surge reflected stronger collections across multiple revenue streams, including statutory revenue, Value Added Tax (VAT), and the Electronic Money Transfer Levy (EMTL), as well as additional augmentation funds.

The Federal Government received N552.591 billion, while state governments were allocated N590.614 billion, and local councils received N434.567 billion. Moreover, oil-producing states received N125.284 billion in derivation revenue, underscoring the continued importance of natural resource wealth in regional financing.

However, the upward trend was not sustained uninterrupted. By March, FAAC allocations declined to N1.578 trillion, marking the third consecutive month of reductions. This drop was largely driven by weaker VAT and EMTL collections, despite a modest rise in statutory revenue.

The Federal Government’s share fell slightly to N528.696 billion, with state governments receiving N530.448 billion, and local councils N387.002 billion. The pattern highlighted the vulnerability of revenue flows to economic activity, particularly consumption and digital transactions, which underpin VAT and EMTL receipts.

Analysts and stakeholders alike began expressing concerns about the sustainability of monthly allocations, noting that state and local governments rely heavily on these funds for essential expenditures, including salaries, infrastructure, and social services.

The recovery resumed in April, with total FAAC disbursements rising to N1.681 trillion. This increase was supported by stronger inflows from statutory revenue, VAT, and EMTL collections, reflecting both improved compliance and modest economic growth.

The Federal Government received N565.307 billion, states received N556.741 billion, and local councils received N406.627 billion, while oil-producing states secured N152.553 billion as derivation revenue. The Office of the Accountant General of the Federation noted that Petroleum Profit Tax (PPT) and Oil and Gas Royalties contributed significantly to the growth, signaling a rebound in the oil sector. Nevertheless, Companies Income Tax (CIT) declined, pointing to continued strain on corporate profits amid inflation, currency volatility, and rising production costs, which remained a concern for fiscal planners.

June’s FAAC distribution further reinforced the trajectory of rising revenue, with N1.818 trillion shared among the three levels of

government. The Federal Government received N645.383 billion, state governments N607.417 billion, and local councils N444.853 billion.

Once again, oil-producing states benefited from the 13% derivation allocation, receiving N120.759 billion. Analysts noted that the surge was largely driven by significant growth in CIT and PPT collections, which helped offset declines in VAT and trade-based levies.

This pattern highlights the dual nature of Nigeria’s revenue system: while oil-related revenues provide a vital boost, non-oil sources, such as VAT and import duties, remain sensitive to shifts in consumption, import activity, and broader economic conditions.

By July, FAAC allocations climbed to N2.001 trillion, signalling strong fiscal performance despite some fluctuations in revenue streams. Statutory revenue accounted for N1.282 trillion, complemented by N640.610 billion from VAT, N37.601 billion from EMTL, and N39.745 billion in exchange differences.

The Federal Government received N735.081 billion, states N660.349 billion, and local councils N485.039 billion, while oil-producing states collected N120.359 billion as derivation revenue. Monthly trends throughout 2025 illustrate not only the government’s ability to mobilise funds for development but also the delicate balance policymakers must maintain between revenue growth, fiscal sustainability, and the impact on liquidity in the banking system.

These fluctuations serve as a reminder of the broader economic forces that continue to shape Nigeria’s public finance landscape and the ongoing challenge of ensuring predictable, stable funding for state and local governments.

REVENUE BREAKDOWN AND DISTRIBUTION PATTERNS

The distribution of FAAC funds in 2025 reflects a carefully structured system designed to balance the financial needs of the Federal Government, state governments, local councils, and oil-producing states.

Statutory revenue, which forms the largest share of the federation account, continues to serve as the backbone of

federal finances, supporting critical national programs, security, and administrative operations.

Within this component, allocations are made according to a formula that ensures the Federal Government receives a significant portion, while states and local governments are also guaranteed substantial shares to fund salaries, social services, and development projects.

This statutory revenue includes collections from petroleum taxes, companies’ income taxes, and other key fiscal instruments that reflect the broader economic activity of the country.

Value Added Tax (VAT), another major component of FAAC distributions, provides essential funding for states and local councils. VAT collections reflect patterns of domestic consumption and business activity, making it a reliable indicator of the economy’s health.

When VAT revenues rise, it signals stronger consumer spending and commercial activity, which in turn allows governments at all levels to plan and implement programs more effectively.

In months where VAT receipts decline, however, it underscores the vulnerability of state and local finances to fluctuations in consumption, import activity, and broader economic conditions.

The Electronic Money Transfer Levy (EMTL) and exchange difference earnings contribute smaller yet strategically important amounts to the distributable pool. EMTL allocations, largely directed toward local governments, help fund grassroots initiatives and communitylevel projects.

Exchange difference revenues, on the other hand, capture gains and losses arising from foreign currency transactions and fluctuations in exchange rates, providing an additional source of funding that is sensitive to global trade dynamics. These components highlight the complexity of Nigeria’s revenue system, which balances domestic consumption, corporate activity, and international economic factors to meet government obligations.

Additionally, the 13 per cent derivation revenue remains a vital source of income for oil-producing states. This allocation, derived from mineral revenue, is intended to compensate regions that

contribute significantly to the nation’s oil and gas production. By design, it enables these states to invest in local infrastructure, social services, and environmental management, addressing the impacts of oil production on their communities.

CENTRAL BANK OF NIGERIA RAISES LIQUIDITY CONCERNS

While the rising FAAC allocations have provided much-needed funds to the Federal Government, state governments, and local councils, the Central Bank of Nigeria (CBN) has repeatedly sounded a note of caution. The apex bank has highlighted that the large monthly disbursements into the financial system could contribute to excess liquidity, potentially creating inflationary pressures that may undermine recent gains in stabilising the economy.

CBN Governor Olayemi Cardoso restated that the regular and often substantial cash inflows from FAAC allocations require careful monitoring, noting that they have the potential to flood the banking system with money, thereby weakening the Central Bank’s efforts to maintain price stability and safeguard the value of the naira.

Speaking after the 302nd Monetary Policy Committee (MPC) meeting in Abuja recently, Cardoso explained that the CBN remains particularly attentive to the timing and size of FAAC disbursements. “We are closely watching the levels of liquidity in the banking system, especially those periods immediately following FAAC releases, because they can sometimes result in sudden surges of cash that exert pressure on prices,” he said. He added that the Central Bank is prepared to deploy the necessary monetary tools to absorb any excess funds and ensure that inflationary pressures do not spiral out of control. The bank’s concern underscores the delicate balancing act between supporting government fiscal operations and maintaining a stable macroeconomic environment.

The CBN’s warnings come amid broader optimism about Nigeria’s economic recovery. While headline inflation eased to 20.12% in August 2025, and GDP expanded by 4.23% in the second quarter, the bank remains vigilant about potential risks stemming from rapid liquidity growth.

Cardoso highlighted that uncontrolled liquidity increases could erode the purchasing power of ordinary Nigerians and destabilise exchange rates, ultimately affecting businesses and consumers alike. By signalling these risks, the CBN aims to encourage prudent fiscal management, ensuring that states and local councils channel FAAC allocations into productive spending rather than activities that could exacerbate inflation.

Historically, FAAC disbursements have played a critical role in sustaining government operations across all tiers, funding salaries, infrastructure projects, and essential public services.

However, the CBN cautions that when these allocations enter the financial system in large, concentrated sums, they can temporarily overwhelm banking liquidity, leading to what economists describe as “short-term money surges.”

To mitigate this, the central bank may adjust reserve requirements, deploy open market operations, or use other monetary instruments to soak up excess funds.

POLITY

Reflection, Reinvention, and Winning at Sixty-Five: A Field Note for Nigeria’s Next Chapter

By Dr Alim Abubakre

Sixty-five years after independence, Nigeria stands at a crossroads that is both sobering and promising. The sobering part is familiar. Too many citizens experience public services that arrive late or not up to par. Firms face a cocktail of inflation, logistics friction, and regulatory uncertainty. Civil society carries heavy loads where formal systems falter. The promising part is quieter but powerful. In the past year I have sat with more than a thousand leaders in ministries, agencies, boardrooms, factories, start-ups, cooperatives, and classrooms from Kano to Lagos to Abuja and cities in other emerging and developed countries. The appetite I have encountered is not for new slogans. It is for practices that produce compounding improvements citizens can feel. My contention is that the leaders who will move Nigeria forward in the next decade will practise three disciplines with rigour: reflection that rebuilds trust and sharpens judgement, reinvention that converts constraints into design choices, and winning that scales what works and protects it from erosion.

Reflection must come first because progress without trust rarely survives the news cycle and more importantly does not lead to sustainable inclusive impact. In many of our institutions there is an inherited deficit of confidence. People discount statements before they hear them. Officials are assumed to be evasive until proven otherwise. In this context, the most strategic act a leader can take is to make the logic of decisions visible and testable. I have watched permanent secretaries and chief executives shift the temperature in a room by explaining the trade-offs behind a policy or a pivot in two pages of plain English, then inviting challenge before the implementation plan is final. That small ritual does more than inform. It signals that citizens and staff are not audiences but partners in judgement. Rwanda’s experience with public performance contracts for officials is instructive because it illustrates how visible targets and steady follow-through can change the relationship between leaders and citizens. Nigeria does not need to copy the mechanism to embrace the principle. We can begin with published choice notes that state priorities, the reasons for those priorities, and the measures by which success will be judged.

Reflection also requires safety for truth. In utilities, hospitals, and agencies I often meet talented professionals who knew trouble was coming but said nothing because it did not feel safe to do so. The cost of that silence is measured in failed projects, service outages, and avoidable controversy. A modest institutional habit can reverse this dynamic. Start formal meetings by asking for the pieces of bad news that no one has voiced. Reward the messenger rather than the fixer. In a northern water board I watched how this practice reduced the number of last-minute crises and improved relationships with suppliers who were finally hearing about risks early enough to help. Psychological safety is not a fashionable idea. It is a governance advantage.

Strategy is the next frontier of reflection. Plans that attempt to please everyone end up straining everyone. Strategy is not an inventory of hopes but the courage to choose. What distinguishes Ethiopia’s early industrial zones, despite all the imperfections, is not simply the infrastructure but the choice to concentrate on a small number of sectors where jobs could be created quickly and learning could compound. Nigeria has too often pursued breadth without

depth. A commissioner who commits to a two-page statement of where the state will compete in transport or health, how it will win there, and what will be left aside this year, has already advanced execution. The power of this clarity lies in how it enables other actors to align. Suppliers, investors, and civil society can only complement a public agenda they can see.

Foresight completes reflective leadership. Oil shocks, currency swings, (though the latter two have been quite stable in the past six months) import disruptions, and climate stress are not surprises. They are conditions of the game. The organisations that navigate them well do not predict the future. They rehearse it. In Vietnam, which has climbed the manufacturing ladder over the past two decades, routine scenario exercises allowed managers and officials to pre-commit to responses when supply chains wobbled. In our context the same discipline means agreeing on three or four numbers that, if breached, trigger specific actions within a week. It means deciding in advance which contracts can be slowed without losing capability, which social programmes must be protected under any scenario, and which suppliers or ports will be used if a route closes. When senior teams practise these drills quarterly, they do not eliminate volatility. They convert volatility from a reason to panic into a reason to act calmly and quickly.

Once reflection has cleared the fog, reinvention can proceed with precision. Reinvention in Nigeria must start with an unflinching acceptance of constraints. Capital is tight. Power is unreliable in too many places. The skills we most need are scarce and globally mobile. Rules sometimes move mid-stream. These constraints do not forbid innovation. They shape it. The leaders who make headway begin by asking what job the

citizen or customer is hiring the service to do. In one health programme I observed, teams stopped designing features and started listening to mothers who simply wanted certainty about vaccination days. A low-cost text system that reminded families and local clinics of fixed days in each ward lifted attendance without expensive infrastructure. India’s Aadhaar system, whatever one thinks of it in the round, succeeded because it focused on a minimal identity layer that others could build upon. Kenya’s M-Pesa was born because the banking system ignored the unbanked. Both cases show the pay-off from designing to the job, not to the institution.

Reinvention demands learning before scale. In too many Nigerian settings pilots are a performance rather than a process. They lack a falsifiable question, a clear owner, and a path to either stop or scale. The fix is not complicated. Any initiative expected to touch a large population should be tested in two locations, with one sharp question set in advance and a date by which a scale or stop decision will be made. The results should be published in language citizens understand. Failure then becomes an investment rather than a secret. I saw a state education agency kill three shiny ideas quickly and redirect funds into a teacher coaching model that improved learning outcomes because it treated the pilot as an experiment rather than an announcement. Reinvention gains momentum when public institutions become conveners of ecosystems rather than providers of every function. Big problems yield when government, private firms, and civic actors share accountability for outcomes that citizens feel. Bangladesh offered a vivid lesson. Partnerships between government, a major telecom, microfinance institutions, and social enterprises created rural digital kiosks run by women that offered identity, market information, and payments. The result was a commercial model that advanced connectivity and income at the same time. There was no philanthropic afterthought. Incentives were aligned at the design stage. Nigeria’s agriculture and health sectors can embrace the same logic. Shared cold chain investment for vaccines, joint platforms for farmer data, and managed marketplaces for produce are all areas where no single actor can win alone, yet every actor can win if the rules of cooperation are clear.

The final discipline is winning. By winning I do not mean a one-off success that makes good copy. I mean the craft of scaling what works, protecting it from erosion, and compounding advantage. The first move is to pick a narrow transformation where citizens will feel the difference within months, ‘a low hanging fruit’. A permit workflow, a claims process, a land registry, or a targeted procurement system are good candidates. The rule is simple. The process must be completed end to end in a single digital flow. A named leader must own service levels. The model that drives decisions must be monitored so that it does not drift. Small wins matter because they change expectations. Once a citizen experiences a permit that takes days rather than months, tolerance for delay declines across the board. Indonesia’s progress on e-procurement and tax administration, while uneven, shows how patient systems work can raise revenue and trust at the same time. We should be stubborn about this kind of boring progress because it pays compound interest.

Winning also requires decision-making that treats a downturn as a time to prune and plant rather than to freeze. The instinct in a crisis is to cut across the board. The better move is to cut visible waste, protect muscle, and

pre-fund two moves that will pay off when others are distracted. When India’s Tata Group bought Jaguar Land Rover in the depths of the 2008 crisis, it was not a gamble on prestige. It was a calculated bet on future capability. In Nigeria the equivalent in the public sphere could be a state securing a long-term power arrangement for critical social infrastructure when prices soften. In the private sphere it may look like acquiring a distressed logistics asset that reduces cost to serve for essential goods. These are not headline moments. They are compounding moves.

The strongest fosses in emerging economies are often social and institutional as much as technological. A company that ties its profit engine to a farmer’s gain by reducing post-harvest losses creates an affinity that is difficult to copy. A ministry that becomes the trusted orchestrator of identity or payments in a sector makes duplication wasteful for others and partnership sensible. Vietnam’s rise in manufacturing is instructive here. Once clusters matured and supplier development programmes took root, firms preferred to deepen rather than exit. In Nigeria we can replicate the principle if not the exact model by choosing the lever we will own, whether identity rails for SMEs, last-mile logistics in a large state, or a vocational pipeline that gives investors’ confidence.

Every serious proposal invites counterarguments. The first is that our constraints are too severe. It is true that power, security challenges, still high inflation and undervalued Naira shape the feasible frontier. Yet they rarely block the first disciplined step. Narrowing focus, publishing choices, and testing cheaply are possible even in tough conditions. The second counterargument is that pilots never scale here. That is not a law of nature. Pilots fail to scale when ownership is vague and money is episodic. Tie each pilot to a named leader with a budget gate and an adoption target. If the target is met by a stated date, the next release triggers automatically. If not, the idea is retired without controversy because the condition was agreed up front. The third objection is that openness hands advantage to rivals or invites misuse. Opacity is more expensive. Clear interfaces, shared dashboards, and pre-agreed escalation channels protect the public interest while letting private actors bring energy and ingenuity. The fourth objection is that our context is unique and therefore resistant to lessons from elsewhere. Culture and politics matter. So does execution. The underlying disciplines of reflection, reinvention, and winning have travelled across Asia, Africa, and Latin America because they are grounded in human behaviour and institutional incentives rather than in fashion.

Actionable suggestions matter most when they become routine. A practical rhythm helps leaders avoid performative announcements. Each quarter, senior teams should meet for a candid review of trust, choices, and scenarios. The output should be three objectives with dates and owners that are shared with staff and, where appropriate, with citizens.

Continues online

•Dr Alim Abubakre, the Founder of TEXEM and Senior Lecturer at Sheffield Business School. I pen this article with a humble sense of responsibility hoping to contribute to this critical national discourse of proffering actionable insights to nation building. This article is informed by insights gleaned from my engagements with more than 1,000 leaders globally in the past year and close to a gross of this number fifteen years after I founded These Executive Minds (TEXEM) in the UK.

President BolaTinubu

PERSPECTIVE

Presidency 2027 and Jonathan Jitters

Louis Achi

Azu Ishiekwene’s recent column titled, “Why Jonathan Won’t Contest, Whatever the Courts Say,” published across several traditional and new media platforms did not represent the best of that astute, senior journalist or validate his hard worn, top-notch intellectual grooming and reputation

On the surface, Ishiekwene’s pitch offers an unsolicited, if brash advisory on why former President Goodluck Jonathan should not even contemplate running for the 2027 presidential election. But its decipherable nuances laced with surprising bias unfortunately suggest another agenda.

Ishiekwene, formerly editor of The Punch and executive director, Punch Nigeria, is currently the editor-in-chief of LEADERSHIP and author of the book, Writing for Media and Monetising It. Over the years he has evolved a unique writing style mirrored in his widely respected weekly columns and other literary efforts. In the often-bruising local media space, Ishiekwene has indeed proven a nimble survivor.

In his writeup under interrogation, Ishiekwene pushes about five grounds why Jonathan should perish the thought of entering the presidential electoral fray in 2027. The checklist includes - potential legal landmine, Jonathan was chased out of office in 2015, legacy of tackling terror by appeasement, fuel subsidy management and power sector reform challenges.

Quickly, on the potential legal landmine - the debate on this score is layered. It is legal, political, and historical. It challenges Nigerians to weigh constitutional language against judicial precedent, ambition against legacy, and the promise of experience against the risks of recycling jaded leadership. Pretty few issues better encapsulate the complexity of Nigeria’s democracy today.

The 1999 Constitution, amended in 2018, provides the foundation of the conversation. Section 137 disqualifies anyone elected president twice and, under its new subsection (3), bars anyone who completed another president’s term from being elected more than once. Jonathan’s unique trajectory makes him a test case.

In 2010, following the death of President Umaru Musa Yar’Adua, Jonathan was sworn in to complete the term. A year later, he won his own mandate and served until 2015. That sequence gave him two oaths of office. On the surface, this should foreclose the matter.

But in 2022, a Federal High Court in Bayelsa declared Jonathan eligible to contest again. The reasoning was twofold: first, that he has only been elected once, in 2011; and second, that the 2018 amendment introducing Section 137(3) cannot apply retroactively. The ruling has not been appealed, meaning, for now, the law slants in Jonathan’s favor. It can be pushed to the Supreme Court which would be required to rule definitively on a matter the trial court has ruled on. By claiming rather discourteously that Jonathan was chased out of office in 2015, he misses a critical point. In the typical African leadership tradition, Jonathan could jolly well have stuck to power and damned

the consequences. He did not. Jonathan is remembered not for clinging to power but for peacefully yielding it.

His 2015 concession, rare in Nigeria’s history, earned him international acclaim and respect at home. His words that his ambition was not worth the blood of any Nigerian still echo in the country’s democratic story. A return to the presidency in 2027 could enhance that legacy if he wins and governs effectively. Curiously, according to Ishiekwene, “This is why Jonathan looks like a viable option and is now beginning to think of himself as one.”

His alleged Jonathan legacy of tackling terror by appeasement or indulgence is curiously revisionist. He uncharitably went as far as alleging that, “His government turned a blind eye to militants in the Niger Delta, whose criminality the government treated as a counterbalance to violent extremism in the North… at the height of the Boko Haram insurgency under Jonathan, terrorists invaded schools, kidnapped students and bombed markets, motor parks, places of worship, and military installations.” Haba!

An exact clone of this insecurity scenario he described still subsists, by all comparative metrics, notwithstanding that the current regime is at its wits end to cage it.

Did Jonathan tackle insecurity by appeasement. Definitely not. It was the former president who signed the initial anti-terrorism law, the Terrorism (Prevention) Act 2011, established to combat acts of terrorism and their financing within Nigeria. This definitely is not appeasement. The Act was later amended in 2013 and 2022 to strengthen its provisions.

Yushau A. Shuaib in his book, “Boko Haram War: An Encounter with the Spymaster,” documented how, in the twilight of Jonathan’s tenure, dozens of communities across Adamawa, Borno, and Yobe were liberated from Boko Haram under Dasuki’s watch as NSA. According to Shuaib, “military press releases and pictorial evidence confirm the recapture of towns such as Bama, Monguno, Gwoza, Michika, and Mubi, as well as the rescue of 234 abductees from Sambisa Forest on April 30, 2015. To ignore these facts is not only misleading but also diminishes credibility.”

Just this week, the Daily Trust reported

that at least 188 public schools have been shut down due to insecurity in Northern Nigeria, specifically listing - at least 39 in Zamfara; 30 in Niger; six each in Sokoto and Kaduna in addition to the reported 52 and 55 schools in Katsina and Benue states respectively which have been shut.

Many public schools across Sokoto, Zamfara, Katsina, Niger, Kaduna, Kebbi, Benue and Kwara states have remained closed for years, others for months or weeks after they were shut down owing to attacks by Boko Haram, ISWAP, Ansaru, Lakurawa, Mahmuda terrorists and bandits.

Ishiekwene’s grudging concession that under President Jonathan’s leadership, Nigeria became Africa’s largest economy, with a rebased GDP of over $500 billion in 2014 was only a contrived prelude to demonise that administration nevertheless. His words: The foreign reserves that stood at $40 billion in May 2010 when he became president soon dropped to $29.6 billion when he left office.’’

But beyond contrived revisionism, under Jonathan (2010–2015), Nigeria’s economy experienced relative stability: the naira hovered around N150–N165 to the dollar, GDP growth averaged 6–7%, and inflation remained within single digits for some years, a feat that many administrations have struggled to achieve. In fact, in 2014, Nigeria became Africa’s largest economy after a GDP rebasing. It could also not be easily forgotten that during Jonathans tenure, the country attracted the highest levels of Foreign Direct Investment (FDI) on the continent for several consecutive years.

A pointer to Jonathan’s visibility even on the global scale was that Nigeria served two consecutive terms on the United Nations Security Council under his tenure, a testament to the former President’s international stature and diplomatic clout.

Furthermore, major infrastructure projects, including the resuscitation of the rail system, road dualizations, and power reforms, began in earnest under his watch, notwithstanding the associated challenges. The Power Sector Reform Act and privatization of PHCN laid the groundwork for eventual sectoral improvements.

But Ishiekwene’s criticism of the fuel subsidy management and power sector reform challenges still speak to the same agenda of rubbishing Jonathan and nimbly promoting another candidate.

But significantly, perhaps unwittingly, Ishiekwene lifts the lid on the core motive of his critique project by defensively mentioning President Bola Ahmed Tinubu and swiftly absolving him from current socio-economic and security woes by blaming Jonathan and past leaders. Context is important.

His words: “In hard, difficult times, every straw looks like a lifesaver. The sudden removal of petrol subsidy, followed almost immediately by the merger of the exchange rate by President Bola Ahmed Tinubu’s government, has taken a toll on households, evoking memories of a romantic past in many circles, often measured by the price of rice.

“But we are where we are mainly due to decades of kicking the can down the road. Sadly, politicians who have been kicking us, with the can, down the road are not only complaining the loudest, they are determined to exploit our misery and short memory for their benefit. Jonathan is their tribe. And whatever the courts say,

we shouldn’t forget that.”

At a critical juncture in the convoluted socio-political evolution of the Nigerian state, what should be the focus of the nation’s intellectual class? Amidst contrived chaos, economic hardship, unending bloodletting, human misery and puzzling governance deficits that continue to define Nigeria’s democracy, many are wont to lose faith in the polity. This may be understandable. But history shows that mere loss of faith, a pathway to surrender, is taking the easy course. The path of courage is to informedly and objectively interrogate the policies, concepts, leadership vision or visionlessness and socio-political triggers that generate regression using reasoned, temperate logic and candour. Next is to offer alternative vision of sustainable strategies to resolve extant human development and socioeconomic challenges.

Ishiekwene certainly did not take this path in his quirky offensive against the possibility of former President Goodluck Jonathan’s reentry into the political fray to contest the 2027 presidency. It was rather a poorly veiled campaign pitch for his favoured candidate - damning the consequence of INEC’s tongue-in-cheek warnings against early political campaigns. But at a fundamental level, this puzzling razzle-dazzle project is not suited to vintage Ishiekwene, a pragmatic intellectual who has considerably, positively impacted his milieu. In crafting this particularly underwhelming column under reference or better still – a sniper’s attack – what was Ishiekwene’s motive? Could it have been the Biblical voice of Jacob and hand of Esau scenario?

Perhaps, leveraging strategic ambiguity, Jonathan has told no Nigerian he will run for the presidency come 2027 or that he will not. Strategic ambiguity is the deliberate and calculated use of vague or imprecise language in organizational or political communication to achieve specific objectives, such as maintaining flexibility, influencing perceptions, or managing complex stakeholder expectations.

It is a conscious strategy that allows organizations or politicians to adapt to changing circumstances, preserve control over messaging, and enable diverse interpretations that serve different needs. Many politicians feel very much threatened by this exasperating stance.

In the face of the trending narratives that Jonathan may succumb to the alleged courtship of the ruling Northern political intelligentsia to enter the presidential race in 2027, several political calculations are being spawned. Perhaps more potently, this scenario is understandably generating some fear in several political quarters –starting from the ruling party.

At the time of this response, Jonathan, a biological scientist who has morphed into a respected national and international statesman has not given an indication of whether he will bite the alleged Northern bait. But this has not calmed the jitters – understandably.

But Ishiekwene must know that boxing in the political fray comes with collateral dangers - especially if it is anchored on jejune instead of genuine conviction. Perhaps more importantly, according to Dennis Brutus the South African protest poet, “Writers must not live a lie.”

Jonathan

STEM Africa Fest: Boosting Human Capital Development

In this conversation, Co-founders, STEM Africa Fest, Jadesola Adedeji and Titi Adewusi, highlight the STEM Africa Fest’s journey from its early beginnings to its growing continental footprint, its impact to date and the broader mission of building a sustainable ecosystem that complements formal education and fosters year-round engagement. Emma Okonji presents the excerpts:

STEM Africa Fest has grown into a continental platform for Science, Technology, Engineering, Arts and Mathematics (STEAM) learning since its launch in 2021. Can you take us back to the very beginning—what gap did you see in Africa’s education landscape that inspired the creation of this festival?

From the very beginning, what drove us was the recognition of a critical gap in Africa’s education landscape. While children were going to school, many were not being exposed to the kind of practical, hands-on learning that sparks curiosity, creativity, and problemsolving. We saw how heavily the system leaned on rote memorisation, and how little room there was for exploration, innovation, or for children to imagine themselves as scientists, engineers, artists, or inventors.

We wanted to change that. The idea behind STEM Africa Fest was to create a platform that demystifies science and technology, makes it fun, and shows children that they can apply what they are learning to real-world challenges in their communities. In 2021, we started in Lagos with a small but powerful vision—to let children touch, build, experiment, and collaborate. The response was overwhelming, not just from the learners, but from parents and educators who saw the excitement and potential in this approach. That was when we knew we had tapped into something bigger than a one-off event. What started as a simple idea quickly became a space where students, parents, and teachers could all re-imagine what learning could look like. And from that moment, the festival began to grow beyond anything we had initially imagined.

Building on that, what was the founding mission of STEM Africa Fest, and how has it evolved as the initiative has expanded across countries?

Our founding mission was simple yet ambitious: to spark a love for STEAM in young children aged 7 to 16 through experiential, hands-on learning that goes beyond textbooks. We wanted to create a space where children could explore, question, and build, a space where they could see themselves as future engineers, scientists,

and innovators. As we have expanded across African countries, our mission has deepened. We are not just exposing children to STEAM concepts; we’re actively contributing to the realisation of our vision: an Africa where ideas evolve into transformative community solutions, where inventions address longstanding challenges, and where creativity pioneers’ new frontiers in technology and art. Each country we enter brings unique challenges and opportunities, strengthening our resolve to make STEAM education accessible and relevant across diverse African contexts.

When you look back at the first edition in Lagos and compare it to the 2025 edition, what defining moments stand out in this journey?

When we look back at the first edition in Lagos in 2021, the defining moment was simply proving the concept—that children, parents, and educators were eager for a space where learning went beyond textbooks into hands-on exploration. The energy in the room showed us that there was a real appetite for STEAM learning delivered in a fresh and practical way. Comparing that to the 2025 edition, the growth is undeniable. This year’s festival brought together over 3,000 participants under the theme ‘AI for Good,’ and the defining moment was seeing children not just engage with activities but begin applying what they’ve learned to solve real-world problems. That evolution—from sparking curiosity in 2021 to showcasing creativity, innovation, and problem-solving in 2025—captures how far the festival, and the children themselves, have come.

Partnerships have been central to your growth. Can you speak about the role of collaboration with schools, governments, and corporate sponsors in sustaining and scaling the festival? Partnerships have been absolutely central to the growth and sustainability of STEM Africa Fest. From the very beginning, we knew this couldn’t be a solo effort. Collaboration with schools and

educators has ensured that the festival complements classroom learning, while engagement with governments has helped us align with national education priorities. Corporate sponsors such as IHS, First Bank, and Argentil have also played a crucial role—providing resources, expertise, and platforms that make it possible to reach more children each year. What these collaborations demonstrate is that when different stakeholders come together around a shared vision, we can create learning experiences that are not only impactful in the short term but also scalable and sustainable across the continent.

The development of human capital is critical for driving innovation, economic growth, and Africa’s global competitiveness. How does STEM Africa Fest contribute to this agenda, particularly in cultivating STEM talent for the economy?

You’re right—Africa’s competitiveness in the global economy will depend on how well we nurture and deploy our human capital. STEM Africa Fest contributes to this agenda by giving children early exposure to practical, problem-solving skills that are directly relevant to the future of work. Beyond sparking interest in science and technology, the festival cultivates critical thinking, creativity, collaboration, and resilience—skills that employers consistently identify as essential in today’s economy. By creating a platform where thousands of learners, teachers, and parents can experience STEAM in action, we’re helping to build a pipeline of talent that is not only ready for careers in STEM fields but also capable of driving innovation across sectors. In that sense, STEM Africa Fest is more than an event—it’s part of a long-term strategy to strengthen Africa’s human capital base for sustainable growth.

In less than five years, STEM Africa Fest has reached over 20,000 children, parents, and educators. What does this number mean to you and how do you measure impact in real terms?

Those 20,000 represent creativity activated, potential unlocked, and futures transformed. As someone who transitioned from a decade-long career with one of the Big Four consulting firms to education innovation, I understand that real impact isn’t measured in attendance numbers. It is measured in the ability to unlock the creativity, critical thinking skills of future innovators. For us, the impact is the seed planted in 20,000 future problem solvers and innovators in Africa.

We measure impact through the stories that emerge: the child who gained the confidence to start a coding club at school after attending our festival, the girl child who can sees for the first time a future in a career field, the educator who realises STEM education is not optional and starts STEM clubs. We track how many children continue engaging with STEAM subjects after our festival, and most importantly, how many see themselves as future innovators rather than passive consumers of technology.

Access and equity are critical issues in African education. How is STEM Africa Fest ensuring inclusivity, particularly for children from underserved backgrounds? Inclusivity is fundamental to everything we do. Through my experience co-founding 9ijakids, I learned that high-quality educational content must be accessible and affordable to truly make a difference. At STEM Africa Fest, we partner with NGO, corporate organisations, public schools, low cost school to ensure children from diverse socioeconomic backgrounds can participate. We also focus on geographic inclusivity— expanding beyond major cities to reach children in places like Ilorin, where we recently engaged over 500 students and educators. We provide materials, resources, and experiences that children can take home, ensuring the learning continues beyond the festival day. Our goal is that a child’s postal code or family’s economic status never determines their access to world-class STEAM education.

Adedeji

Adewusi

Kayode tokede

On the back of high yields and economic reforms, Pension Fund Administrators’ (PFAs) exposure to the stock market and FGN Bonds increased to N19.43 trillion as of August 2025, representing a N2.72 trillion or 16.25 per cent Year-till-Date (YtD) growth from N16.25 trillion January 2025. This is according to the latest data by National Pension Commission

(PenCom), which revealed that PFAs’ exposure to the stock market and FGN Bonds have seen significant growth Yearon-Year, impacting on net value that closed August 2025 at N25.9 trillion.

This is N4.76 trillion or 22.5mper cent increase from N21.13 trillion reported by the PenCom August 2024. A breakdown of PenCom’s numbers revealed that PFAs stake in domestic stock market appreciated by N1.2 trillion

or 49.91 per cent from N2.41 trillion January 2025 to N3.61 trillion as of August 2025, while stake in FGN Bonds closed August 2025 at N15.82 trillion, about N1.5 trillion or 10.6 per cent growth from N14.31 trillion declared by PenCom January 2025.

The combined PFAs investment in the domestic stock market and FGN bonds contributed about 75.04 per cent of the N25.9 trillion net assets value as of August 2025.

Analysts have attributed PFAs increasing exposure in the stock market to increasing fundamentals of some listed companies, stressing that modest yield and risk-free government securities continued to influence PFAs exposure in FGN Bonds.

The likes of FGN Bonds in 2025 has witnessed significant patronage by investors with yields over 16.2 per cent on five-year government bonds and .15.8 per cent on 30-year government bonds.

The yields are quite high in nominal terms. But real returns (i.e. after inflation) may be modest or even negative if inflation remains high. For example, inflation at 20.12 per cent (or thereabouts) means a 16 per cent nominal yield, which gives you a negative real return.

Local and foreign investors seem to respond positively to the doubledigit interest rates on FGN Bonds, as seen in the robust subscription rates, suggesting confidence

in the CBN’s ability to manage the country’s monetary challenges amid scarcity of foreign exchange and double-dight inflation rate.

Meanwhile, the participation by PFAs in the stock market in the first eight months of 2025 lifted the market capitalisation by N26.01 trillion or 41.43 per cent to N88.769 trillion from N62.763 trillion the market capitlisation closed for trading in 2024.

The latest Money and Credit Statistics released by the Central Bank of Nigeria’s (CBN) has shown a simultaneous decline in both currency in circulation (CIC) and currency outside banks (CoB) for August 2025. According to the data, currency in circulation fell by 1.7 per cent to N4.92

trillion in August 2025 from N5.01 trillion recorded in June 2025. In the same period, currency outside banks declined by 0.9 per cent to N4.45 trillion from N4.49 trillion, even as cash outside the banking system accounted for 90.5 per cent of total CIC.

A month-by-month review of the data showed a mixed pattern in cash trends during the year,

reflecting the interplay of liquidity management, inflationary pressures, and the gradual adoption of digital payment channels. Between January and August 2025, total currency in circulation declined by 5.96 per cent, while currency outside banks fell by 6.01 per cent. Despite these short-term contractions, both metrics remain higher compared

to the same period in 2024, when the effects of the cash redesign policy and withdrawal limits were still being felt.

In May 2025, currency in circulation stood at N5.015 trillion, marking a 26.2 per cent year-on-year increase from N3.97 trillion in May 2024. Similarly, cash outside banks rose by 24.8 per cent year-on-year, from N3.71 trillion in May 2024 to

N4.63 trillion in May 2025.

From January through August, currency outside banks displayed a volatile trajectory. It began the year at N4.74 trillion in January, dropped sharply by 4.7 per cent to N4.52 trillion in February as banks recovered more notes into the system, and rebounded to N4.60 trillion in March as cash demand picked up. Subsequent

months saw alternating gains and declines, rising to N4.63 trillion in May, before easing to N4.49 trillion in June and N4.45 trillion in August. The fluctuations underscore the fragile balance between efforts to encourage digital transactions and the strong persistence of cash usage in informal sectors.

Nume ekeghe

Curren C y in Cir C ulation Falls to n 4.92trn, Cash o utside Banks n ow n 4.45trn

Segilola: Nigeria’s Solid Minerals Sector is Investable, Profitable

The operator of Nigeria’s first and only large-scale commercial gold mine, Segilola Resources Operating Limited (SROL), has declared that Nigeria’s solid minerals sector is not just promising but investable and profitable.

The declaration was made by Country Manager for SROL, Mr. Austin Menegbo, in his keynote speech at the recent Nigeria South Africa Chamber of Commerce (NSACC) breakfast session, themed: ‘Unlocking Africa’s Hidden Wealth: Mining as a Catalyst for Bilateral Investment’.

According to Menegbo, “I have been part of the Segilola

journey for sixteen years and have watched different owners come and go. The gold was always there; the challenge was never geology. It was capital and conviction: who would have the courage to invest and stay the course?”

He added: “Securing finance for a first-of-its-kind project was daunting, but the process itself became a catalyst for multilateral investment.

“International financiers, technical partners, and local stakeholders came together, demonstrating that Nigeria’s solid minerals sector is not just promising; it is investable and profitable.

“But capital alone is never enough. Success rests on something more fragile and

ipNX Calls for Reliable Backbone Infrastructure to Drive AI Adoption

The Nigerian medical industry requires a reliable backbone infrastructure to successfully adopt Artificial Intelligence (AI) in clinical practice, without the need to import foreign talent, the Group Managing Director of ipNX Nigeria, Mr. Ejovi Aror, has said.

Aror said this at the inaugural Nigeria AI Forum for Medical Directors (NAIFMED)

Workshop, hosted recently by the Obafemi Awolowo University (OAU) ICT-Driven Knowledge Park.

Themed: ‘Transforming Healthcare: AI-Driven Solutions for Nigeria’s Medical Future’, the event brought together top clinicians, medical researchers, directors from Nigeria’s tertiary health institutions, speakers from across Africa, as well as practitioners, stakeholders, and ICT industry players. The workshop also witnessed the induction of the Nigerian Healthcare AI Implementation Special Aid Group (NHAISIG).

Group Business Editor

Eromosele Abiodun

Deputy Business Editor

Chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Energy

Emmanuel Addeh

Asst. Editor, Money Market

Nume Ekeghe

Correspondents

KayodeTokede(CapitalMarkets)

James Emejo (Finance)

Ebere Nwoji (Insurance)

Reporter

Peter Uzoho (Energy)

Aror spoke on a panel session themed: ‘AI and Robotics in Clinical Practice’, alongside thought leaders in medical AI research, such as Professor Olusegun Alatisegun of OAU and Professor Philip Ogunbona from the University of Wollongong, Australia, where he drew parallels between the current opportunities for AI in medicine and the early days of the Nigerian banking industry, particularly the creation of the Nigeria Inter-Bank Settlement System (NIBSS).

far more valuable: trust with regulators, with our host communities, and with our workforce.”

He said Segilola would continue to expand from near-mine exploration to greenfield prospects, which

underscored its confidence in Nigeria’s future as a mining jurisdiction.

He identified power, poor

or inexistent road networks and water as the major infrastructural challenges being faced by miners.

Panasonic, Proxynet Communications to Deliver Advanced Broadcast Solutions

Agnes Ekebuike

Panasonic, a global leader in professional audiovisual and imaging technology, and Proxynet Communications, a renowned provider of innovative IT and enterprise solutions, have announced a strategic partnership aimed at delivering cutting-edge AV and broadcast technologies

to organisations across West Africa.

The collaboration brings together Panasonic’s worldclass portfolio of professional audiovisual solutions with Proxynet’s extensive expertise in deploying tailored IT and enterprise services across diverse industries. The partnership is set to provide integrated, high-performance

AV solutions that meet the evolving needs of the Broadcast, Media, Religious, Education, and Corporate sectors in the region.

Through the alliance, Panasonic’s advanced product range—including PTZ cameras, professional camcorders, projectors, and enterprise imaging systems—will be made more

accessible to businesses and institutions seeking to enhance communication, production quality, and content delivery. Proxynet’s deep industry presence, technical knowhow, and customer-focused approach will ensure seamless integration of these technologies into client workflows, backed by premium after-sales support.

Ellah Lakes to Acquire Agro-Allied Resources and Processing Nigeria

Kayode Tokede

In line with its strategy to deepen its operational footprint, scale efficiencies, and drive national food security impact, Ellah Lakes Plc, on the Nigerian Exchange Limited (NGX) announced that it has entered into an agreement for the 100 per cent acquisition of shareholding

DataPro Limited, a compliance consulting company and one of the country’s licensed credit rating agencies, is celebrating its 30th anniversary in style with a high-powered webinar scheduled for October 9, 2025.

The event, themed:

‘The Role of Credit Rating Agencies in a Dynamic Global Economy’, brings together financial experts, regulators,

of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, Singapore (ARPN PTE).

ARPN PTE is equally owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd. The Acquisition follows shareholders’ approval at its recently held Extraordinary General Meeting in Lagos

and thought leaders from across the globe to reflect on the relevance of credit ratings in driving sustainable growth, particularly in developing economies.

A statement by the company’s Executive Director, Operations, Mr. Oladele Adeoye, at the weekend, said the conversation would led by a renowned scholar and financial markets expert,

and represents a major milestone towards expanding the company’s operational footprint and processing capacity.

The acquired assets comprise 11,783 hectares of cultivated land (planting over 6,280 hectares of oil palm plantations and associated infrastructure), 2,093 hectares of cassava plantations land

and President of US-based Structured Credit International (SCIC), Professor Mahesh Kotecha, who will deliver the keynote address on “Leveraging Credit Rating for Economic Growth in Developing Countries,” expected to provide critical insights into how emerging markets can use credit ratings to boost investor confidence and accelerate economic

and an additional 10,393 hectares of uncultivated land. The plantation’s age profile is well-positioned for sustained productivity, with 60per cent of the oil palms over four years old (entering peak productivity), 30per cent between two and four years, and the remaining 10per cent under two years. The distribution underpins both current yield and future growth.

development.

DataPro Marks 30th Anniversary with Finance Webinar Golden Penny Foods

Golden Penny Foods Ltd, brand of Flour Mills of Nigeria (FMN), is set to mark 65 years of ‘Feeding and Enriching Lives’, every day.

As part of this celebration, the brand is launching a Buy & Win promotion, offering four billion naira worth of prizes to its loyal consumers.

The pan-Nigeria Golden Penny Buy & Win promo campaign, which will run for 10 weeks from September 22nd, 2025, allows consumers to enter with multiple entries to win instant airtime and ultimately, cash prizes, Golden Penny products, household items, kitchen makeovers, and cars. Instant airtime

can be earned by using the unique PIN on the promo packs. Weekly draws will be held every Tuesday at 12:00 p.m. for the duration of the promo.

The Managing Director, Food Division, Mr Devlin Hainsworth, eulogised the company’s commitment to celebrate with the consumers,

“The panel session will feature top industry leaders, including Angela Jide-Jones, CEO of Sewa Capital Limited; Obed Mbuzi, Director at Premier Rating Services; Vidhyasagar Lingesan, CEO of Care Ratings; Zwelibanzi Maziya, COO of Sovereign Africa Ratings; and Dauda Sembene, CEO of AfriCatalyst.

as their loyalty for over six decades is the very foundation of business sustenance.

“The Golden Penny Foods brand is the people’s brand, a household brand that transcends over two generations while still maintaining the production of nutritious and superior quality loved brands.

Emma Okonji

Dike Onwuamaeze

CYBER THREAT SIMULATION EXERCISE…

L-R: Chairman, Committee of e-Business Industry Heads/Chief Partnership Officer, Wema Bank Plc, Ajibade Laolu-Adewale; Country Manager & Area Business Head, West Africa, MasterCard, Dr. Folasade Femi-Lawal and Executive Director, Nigeria Inter-Bank Settlement System Plc, Ngover IhyembeNwankwo, at the inaugural Mastercard Cyber Threat Simulation Exercise in Lagos... recently

Report: Nigeria’s Private Sector on Sustained Growth Path, Improved Output

The Nigerian private sector remained comfortably inside growth territory as the third quarter of the year came to an end.

This is stated in the Stanbic IBTC Bank’s Purchasing Managers Index report for the month of September, which explained that marked improvements in output and new orders were recorded during the period under review, while the pace of job creation quickened to the fastest in almost two years.

Mastercard, Others to Sponsor Nigeria Fintech Week 2025

Global business leaders and Nigeria’s innovators are converging at Nigeria Fintech Week 2025 (NFW25), where the future of Africa’s digital economy will be orchestrated.

From fintech to agri-tech, lifestyle, entertainment to healthtech, the event is set to showcase how fintech is not limited to just the finance sector, as it also drives how economies live, move, trade, and connect.

Themed: ‘The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future’, the event has attracted an impressive lineup of sponsors and partners, including First Bank, Sumsub, Huawei,

Mastercard, PAPSS, Zenith, Rwanda Finance, Network International, among others.

According to the organisers, the collaboration signals outcomes bigger than a single organisation. It means stronger credibility, deeper investments, and practical solutions designed to reach real people.

Country Manager for West Africa at Mastercard, one of the sponsors of the event, Dr. Folasade Femi-Lawal, said: It’s clear that Nigeria Fintech Week has earned the trust of the digital ecosystem, while charting the path to sustainable economic growth and inclusion across Nigeria and Africa.”

Stanbic IBTC Holdings Announces Nwokocha Group Chief Executive

The Board of Stanbic IBTC Holdings Plc has announced the appointment of Mr. Chukwuma Nwokocha as the Group Chief Executive, with effect from October 2, 2025, following the receipt of all required regulatory approvals.

Nwokocha’s appointment followed the completion of Dr. Adekunle Adedeji’s tenure as Acting Chief Executive, during which time the Board undertook a formal appointment process in accordance with regulatory requirements. Adedeji will continue in his role as Executive Director/ Chief Finance and Value

Management Officer of the company.

Chairman of the company, Mrs. Sola David-Borha, expressed the Board’s delight at Nwokocha’s appointment, highlighting his strong track record in board governance, financial oversight, strategic transformation as well as regulatory engagement.

The chairman also extended the Board’s deep appreciation to Adedeji for his exemplary leadership and dedication; and for steering the affairs of the company and group during the transition period.

“It is worthy of mention that under Dr Adedeji’s leadership, the Group recorded its best financial performance since inception.”

The report said companies were helped by the recent alleviation of inflationary pressures, which largely continued into September.

The NESG-Stanbic IBTC Business Confidence Monitor (BCM) for the month of September also reported that Nigeria’s Business environment showed signs

of improvement.

The BCM said: “In September 2025, businesses in Nigeria sustained a positive trajectory, with the current business performance remaining in the expansion region since December 2024.

“The NESG–Stanbic IBTC BCM reported a marginal rise to 107.9 points, up

from 107.3 in August 2025. This improvement reflects a combination of sectoral dynamics, notably a rebound in Agriculture, supported by the harvest season, and steady activity in the services sector.”

The BCM said that a sectoral review confirmed that all five broader economic activities stayed in the expansion zone. It said: “Agriculture posted the strongest recovery, rising sharply to 107.3 from a contractionary 95.6 in August, while non-manufacturing (114.5), Trade (107.6), and Manufacturing (102.5) all expanded, albeit at a slower pace compared to August.”

Cardinalstone Securities, Nine Others Transact N5.4trn Worth of Stock in Nine Months

Kayode Tokede

With the ongoing rally in the Nigerian stock market, Cardinalstone Securities, Chapel Hill Denham Securities and eight other stockbroking firms have transacted N5.42 trillion worth of stocks between January and September 2025.

The remaining eight stockbroking firms are: First Securities Brokers Limited, Stanbic IBTC Stockbrokers Limited, Cordros Securities Limited, Meristem Stockbrokers Limited, EFG Hermes Nig Limited, APT Securities & Funds , United Capital Securities Limited and CSL Stockbrokers Limited.

These 10 stockbroking firms were responsible for 63.42 per cent of the total value stocks traded on the NG) from January to September 2025, according to a released broker performance report by the bourse.

Cardinalstone Securities traded stocks worth N1.73 trillion or 20.26 per cent of the total value traded on the NGX in the nine months of 2025.

Also in the review period, Chapel Hill Denham Securities traded N762.84billion or 8.92per cent transactions, followed by First Securities Brokers with about N574.36 billion or 6.72per cent of total

transactions in the period under review.

Stanbic IBTC Stockbrokers came fourth when it accounted for stocks worth N504.13 billion or 5.90per cent in nine months of 2025.

According to the report,

Cordros Securities ranked fifth when it was responsible for N467.14 billion or 5.46per cent worth of stocks trade, while Meristem Stockbrokers accounted for N350.22billion or 4.10 per cent value of transactions in the period under review.

The report also shows that EFG Hermes Nig Limited traded stocks worth N345.3 billion or 4.04per cent of the total value reported in the nine months of 2025.

Nume Ekeghe

Dike Onwuamaeze

FCMB Group Opens N160bn Public Offer to Retain International Licence

Kayode Tokede

FCMB Group Plc has launched a N160 billion public share sale to strengthen its banking subsidiary and meet the Central Bank of Nigeria’s (CBN) new N500 billion minimum capital requirement for international banks.

The offering of 16 billion shares at N10 each runs until November 6, 2025. Proceeds will be used to recapitalise First City Monument Bank Limited and help the lender retain its international licence.

The raise follows a N147.5 billion share sale in 2024, the first in 16 years. This 2024 share sale was oversubscribed by 33per cent, with 42,800 investors participating, 92per

cent through digital channels. Analysts expect momentum to carry into this second phase of FCMB’s three-stage recapitalisation plan.

FCMB has posted robust growth, with group profit before tax rising at a 72per cent compound annual rate between 2022 and 2025. Non-bank subsidiaries delivered a 61per cent PBT CAGR, led by Credit Direct Finance Company Limited, Nigeria’s largest non- bank lender, and FCMB Capital Markets, which topped the FMDQ fixed income league table for bond listing and commercial papers in the first half of 2025.

Groupwide digital initiatives continue to underpin growth, with

digital revenues growing at more than 58per cent annually since 2022, now accounting for 13.9per cent of gross earnings. As of June 2025, digital lending stood at nine per cent of the loan book.

At a 2025 estimated price-to-book ratio below 0.6x, FCMB stock trades at what analysts describe as a rare mix of deep value and high growth.

Following the completion of this share sale, the group plans to conclude the sale of minority stakes in two subsidiaries, with proceeds also injected into the bank. This will lift qualifying core capital beyond N500 billion and close its recapitalisation programme.

Polaris Bank, NCF Expand Tree Planting Drive to Lagos, Others Month

Nume Ekeghe

Polaris Bank, in partnership with the Nigeria Conservation Foundation (NCF), has extended its nationwide tree planting campaign to three key locations, the Lekki Conservation Centre in Lagos State, the Federal University of Agriculture, Abeokuta (FUNAAB), Ogun State and Sardauna College Kaduna, Kaduna State.

The bank in a statement noted that the initiative, first launched in 2024 during the Bank’s World Environment Day commemoration, is part of Polaris Bank’s broader commitment to combating climate change, reducing carbon emissions, and promoting sustainable environmental practices across Nigeria.

The Lagos edition, which held at the iconic Lekki Conservation Centre, was

attended by Executive Directors, Chris Ofikulu and Sharafadeen Muhammad, alongside partners from NCF.

Speaking at the event, Executive Director, Commercial and Retail, Chris Ofikulu expressed his appreciation to all participants at the Tree-planting exercise, noted that the initiative highlights the importance Polaris Bank attaches to environmental sustainability. He recalled leading the Bank’s first tree planting activity after its launch in 2024 at TASUED, Ogun State.

He further noted that the exercise aligns with the United Nations Decade of Ecosystem Restoration, a global movement dedicated to securing a greener future for generations to come. He emphasised that Polaris Bank sees sustainability not merely as a responsibility but as a business imperative.

Also speaking at the event, Executive Director, Operations, Sharafadeen Muhammad, emphasised that protecting the environment and the planet is a shared responsibility for the benefit of all.

In Ogun State, the Divisional Head, Ogun/Oyo, Yetunde Okeleye emphasized that the tree-planting initiative reflects Polaris Bank’s unwavering commitment to environmental sustainability. By planting economic trees across the country, including Ogun State, we are demonstrating that sustainability is not just a responsibility but part of our ethos as a Bank.

In Kaduna State, Acting Group Head, North West, Mr. Kabir Lawal, alongside the Bank’s staff from Kaduna business locations, reiterated, sustainability is not just a catchphrase but the Bank’s culture, a journey pursued with conviction.

Terra Creates Unforgettable Moments in the BBN House

The Big Brother Naija house has seen its fair share of drama, laughter, and highstakes games, but the night Terra Seasoning Cube took over the stage, the energy reached a whole new level.

Aptly themed around joy, taste, and the spirit of competition, Terra presented two unforgettable challenges: the Terra Taste Maze and the Terra Chicken Hunt. These challenges left viewers in stitches and housemates gasping for breath, both from exertion and laughter.

The night began with the Terra Taste Maze, a challenge that transformed the Big Brother arena into a playground of twists and turns. Housemates were divided into two teams, “Unwrap Joy” and “Unleash Taste,” and tasked with

navigating the maze on all fours. The objective was simple: each housemate had to pick a card at the start, crawl from beginning to end, and overcome wrong turns and dead ends without losing focus. The challenge brought out the competitive spirit of the housemates, making for an evening of entertainment and playful chaos. What unfolded was a test of patience and perseverance. Some housemates surprised fans by gliding through with remarkable speed and precision, guided by sharp instincts and encouragement from their teammates. Others, however, found themselves hilariously trapped in loops, bumping into walls and doubling back in frustration. Their missteps triggered waves of laughter from fellow housemates and

viewers alike. The Maze game was a metaphor. Each wrong turn and stumble highlighted the importance of resilience and teamwork, values that Terra stands for in kitchens and homes across Nigeria.

Chief Marketing Officer, TGI Group, Probal Bhattacharya,reflected on the night’s activities: “With the Maze and the Chicken Hunt, we wanted to show that Terra is more than just cubes of seasoning. The Maze symbolized focus, teamwork, and experimentation, while the Chicken Hunt brought out laughter, curiosity, and spontaneity. Together, they reflected what Terra Cube stands for, making every moment, whether in the kitchen or in life, richer with joy, flavour, and shared experience.”

(Gabon), Iran Heavy (Islamic Republic

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

Investors Gain N1.18trn WoW as Stock Market Sustains Positive Momentum

Kayode Tokede

The Nigerian stock market sustained its positive streak for the fourth consecutive week, gaining N1.18 trillion, underpinned by broad-based sectoral gains.

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1.02 per

cent week-on-week (WoW) to close at 143,584.04 basis points, buoyed by renewed investor appetite for fundamentally strong stocks.

Market capitalisation appreciated by 1.31 per cent or N1.18 trillion WoW to close the week at N91.135 trillion, driven in part by the listing of 14.14 billion

ordinary shares of Wema Bank Plc on September 30, 2025.

Market breadth closed strong, with 53 gainers against 43 decliners. Eterna led the gainers table by 32.80 per cent to close at N37.05, per share. Nigerian Enamelware followed with a gain of 20.94 per cent to close at N42.45, while PZ

Cussons Nigeria went up by 20.87 per cent to close to N41.70, per share.

On the other side, Julius Berger Nigeria led the decliners table by 17.79 per cent to close at N122.90, per share. International Energy Insurance followed with a loss of 11.08 per cent to close at N2.97, while Union Dicon Salt declined by 10 per cent

to close at N8.10, per share.

Overall, a total turnover of 8.403 billion shares worth N115.501 billion in 115,801 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 7.684 billion shares valued at N494.126 billion that exchanged hands prior week in 116,645 deals.

On market’s performance

this week, Cowry Asset Management Limited said, “we expect the Nigerian equities market to maintain its bullish momentum in the near term, driven by sustained investor appetite for fundamentally strong stocks and portfolio rebalancing ahead of Q3 2025 reporting and earnings season.

PRICES FOR SECURITIES TRADED ASOF OCTOBER /2/25

UNITED NATIONS GENERAL ASSEMBLY IN NEW YORK...

Sahara Group Targets 350,000 Barrels Per Day Oil Production, Acquires Seven Rigs

Sahara Group, a global energy and infrastructure conglomerate, is aggressively expanding its upstream capacity, with the target of producing 350,000 barrels per day (bpd) of oil within the next five years.

Chief Technical Officer, Asharami Energy, a Sahara Group upstream company, Leste Aihevba, said the growth will be driven by a significant upgrade of the exploration and production service offerings, development of its execution

capacity, and acquisition of seven brand new rigs for accelerated and more efficient production,

A statement signed by Chief Corporate Communications Officer of Sahara Group Ltd, Bethel Obioma, said Aihevba disclosed this while engaging investors and stakeholders at a strategic meeting on the side-lines of the recently concluded Africa Energy Week in Cape Town, South Africa, where he also underscored the critical importance of local collaboration and regional

DSS Releases Journalists Wrongly Arrested, Tenders Apologies to NUJ

The Department of State Services (DSS), has released two reporters of Jay 101.9 FM, Jos, Plateau State that were wrongfully arrested on Saturday, October 4, 2025, during the visit of President Bola Tinubu for the burial of the mother of Professor Nentawe Yilwatda Goshwe, National Chairman of the All Progressives Congress (APC).

THISDAY gathered that on hearing that some overzealous operatives arrested Ms. Ruth Marcus and Keshia Jang, who work for the radio station, the Director-General of the Service, Mr. Oluwatosin Ajayi, ordered their immediate release.

This followed a letter written to DSS by the National President of the NUJ, Comrade Alhassan Yahaya.

The Service followed up the journalists' release by contacting Comrade Yahaya, and also tendered the DG’s

apologies.

A source close to the DSS said; “The Director General assured the NUJ President that the new DSS leadership treasures the importance of a free press in a democracy, thus ordered a thorough investigation into the matter.

“He further assured the NUJ President that any officer found culpable will be appropriately sanctioned. The DG is correcting the wrongs he inherited. One of which is overzealousness.

“This is why the DG has not failed to admit so whenever the Service makes mistakes. We are witnesses to several instances when the Service apologised and even compensated victims of wrongful arrests.

“The present DG is an absolute lover of human rights and press freedom. You may recall that sometime ago, the DSS DG apologised to the management of TVC over the alleged harassment and intimidation of a reporter,” the source explained.

cooperation to position Africa as a global energy leader.

“The journey towards a secure and sustainable energy future for Africa cannot be travelled in silos,” Aihevba said, adding, “Every refinery upgrade, every gas commercialization project, every power reform and community wealth accretion initiative must be part of a broader continental blueprint."

He said Sahara's massive infrastructure drive was transforming its operations and boosting capacity and global competitiveness in Africa’s energy sector.

“At Sahara Group, we continue to invest in the infrastructure needed to responsibly unlock Africa’s resources across our upstream,

midstream, power and infrastructure businesses, covering the full value chain,” he stated.

Aihebva said, “We have expanded our reserves development and production capacity with the acquisition of seven rigs for both drilling and workover.

“This bold and strategic drive also complements our efforts geared towards accelerating the pace from exploration to production, enhancing local content participation, and ensuring Africa efficiently develops the reserves that will power the continent’s growth and energy future.”

Aihebva stated that the rig acquisition was central to Sahara's plan to boost its production to at least 350,000

bbl/d of oil and 1,000,000 million standard cubic feet per day (MMScf/d) of gas in Nigeria within the next five years.

He said, “Two of the seven new rigs are already in the country, with another two expected to arrive before yearend. Our upstream operations are anchored on a robust shared prosperity approach which recognises our host communities and government as partners, collaborating towards becoming locally competent and globally competitive in bringing energy to life responsibly."

Aihevba explained that these investments were already yielding results, stressing that one of the rigs, the state-of-theart 2000 HP Land rig, named L-Buba, has successfully

commenced operations by spudding a gas development well in one of Sahara’s fields, with the second rig currently being mobilised to site to spud an oil development well, and others rigs to follow soon. He said the rigs will be managed by Arahas Global Oilfield Services, a Sahara Group company.

Aihevba added, “By matching our investments in infrastructure with development and deployment of exceptional human capital, fostering crossborder partnerships, localizing global technical expertise, and technology adoption, we are making marked contributions to the growing efforts towards accelerating Africa’s energy transition while ensuring no community is left behind."

Chuks Okocha in Abuja

Socio-Economic Rights and Accountability Project (SERAP) has urged governors of the 36 states, and Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, to disclose the spending details of the estimated N14 trillion fuel subsidy savings they collected from Federation Account Allocation Committee (FAAC) distributions.

SERAP said that should include details and locations of projects executed with the money, and the implementation status and completion reports on the projects.

SERAP urged them to “provide details of the plans on how subsequent fuel subsidy savings they

expect to collect from FAAC allocations, including details of any planned projects on which the money would be spent”.

SERAP also urged them to “publicly invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to track and monitor the spending of the fuel subsidy savings collected by you, to ensure that the money is not diverted into private pockets.”

The 36 governors and the FCT minister have reportedly collected trillions of naira from FAAC allocations as fuel subsidy savings since mid-2023.

But the increased allocations

have not translated into improved access to basic public services, such as quality healthcare and education for poor and vulnerable Nigerians.

In the Freedom of Information requests dated 4 October 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “There is a legitimate public interest for governors and the FCT minister to urgently explain how they have spent the money they have so far collected from the subsidy savings.

“The savings from the removal of fuel subsidy ought to be spent solely for the benefit of the poor and vulnerable Nigerians who

are bearing the brunt of the removal. Transparency in the spending of the money would help to avoid a morally repugnant result of double jeopardy on these Nigerians.

“There is a significant risk of mismanagement or diversion of funds linked to the increased FAAC allocations collected by the states and FCT. The spending details of the money collected by several states and the FCT from fuel subsidy savings have been mostly shrouded in secrecy.

“Millions of poor and vulnerable Nigerians have not benefited from the trillions of naira collected by the governors and FCT minister from as a result of the subsidy savings. Nigerians continue to face a worsening poverty crisis.”

Seriki Adinoyi in Jos

Peter Uzoho

L-R: Founder, Kijana Company, Mercy Akamo; Executive Director, Tech4Dev, Oladiwura Oladepo; Minister of State, Labour and Employment, Nigeria, Rt. Hon. Nkeiruka Onyejeocha; Programme Manager, Partnership for Economic Inclusion, HSPGE, Victoria Strokova; Country Director, Mastercard Foundation Nigeria, Rosy Fynn; and Special Adviser to the President on Finance and the Economy, Sanyade Okoli, during the United Nations General Assembly 80 held in New York… recently

DEBATE SESSION AT THE AFRICA DEBATE 2025...

Science Minister, Uche Nnaji, in Messy Certificates Forgery Scandal

Documents show minister commenced NYSC 3 months before graduation UNN disowns degree as Nnaji loses bid to restrain varsity

The Minister of Innovation, Science, and Technology, Chief Uche Nnaji, has been caught in an alleged certificates forgery scheme, with the University of Nigeria, Nsukka (UNN) disowning the Bachelor of Science (B.Sc) degree certificate which the minister submitted to the Senate during his screening in August 2023.

In his 10-age curriculum vitae submitted to the Senate, including his degree and NYSC certificates, the minister had told the lawmakers that he graduated from UNN with a B.Sc. in Biochemistry and Microbiology and underwent his one-year mandatory NYSC service in Jos, Plateau State.

But the university has washed its hands off issuing Nnaji the degree, insisting that the minister dropped

out of the institution without completing his studies, noting that the institution did not and could not have issued him the certificate he has been parading.

The university’s position was contained in a Freedom of Information (FOI) request by Premium Times, an online newspaper, which had investigated the B.Sc. and NYSC certificates forgery allegation dogging the Enugu State-born minister for several years.

The letter dated October 2, 2025 and signed by the Vice Chancellor of the university, Prof. Simon Ortuanya read: “We refer to your letter dated 29 September 2025 in respect of the above subject matter. We can confirm that Mr Geoffrey Uchechukwu Nnaji, with Matriculation Number 1981/30725, was admitted

by the University of Nigeria, Nsukka in 1981.

“From every available records and information from the University of Nigeria, Nsukka, we are unable to confirm that Mr Geoffrey Uchechukwu Nnaji, the current Minister of Science and Technology, graduated from the University of Nigeria in July 1985, as there are no records of his completion of study in the University of Nigeria, Nsukka.

“Flowing from above, the University of Nigeria, Nsukka did not and consequently, could not have issued the purported certificate, or at all, in July 1985 to Mr Geoffrey Uchechukwu Nnaji, the current Minister of Science and Technology. This conclusion is also in consonance with an earlier letter dated May 13, 2025, ref.

No, RUN/SR/R/V, issued by the University to the Public Complaints Commission in respect of the same subject matter (copy attached).”

However, UNN’s December 21, 2023 response is a stark contradiction of its earlier response to a People’s Gazette enquiry on the matter in which the University’s Registrar, Celine Nnebedum, wrote that Nnaji graduated from the institution in July 1985 – a position the university has voided in its FOI reply to the (PCC).

“We wish to inform the Public Complaints Commission that we have searched through the University of Nigeria graduation record for the 1985 session and we could not find Mr. Nnaji Geoffrey Uchechukwu’s name.

“There is no indication that

FG Urged to Exempt Health Science Colleges From 7-year Ban to Tackle Brain Drain

The Association of Provosts of Colleges of Health Technology and Nursing Sciences has urged the federal government to exempt their institutions from the 7-year ban on establishing new polytechnics and allied institutions.

The association made the call in a communique issued at the end of the 2025 Quadrennial Conference, and made available to journalists on Thursday in Lokoja by its Public Relations Officer (PRO), Dr Nuhu Anyegwu.

The provosts said the ban

will create an intergenerational gap of at least 7 years in terms of shortage of health and medical manpower in various communities in Nigeria.

The conference, which brought together provosts from across the country, expressed concern that the ban would exacerbate the brain drain syndrome that has plagued the nation's healthcare sector for decades.

The provosts stressed that Colleges of Health Technology and Nursing Sciences are not supposedly referenced as allied institutions and should be exempted from the ban.

They argued that the ban would create an intergenerational gap of at least 7 years in terms of shortage of health and medical manpower in various communities in Nigeria.

The provosts also appreciated the National Board for Technical Education (NBTE) for removing cumbersome and rigid measures in the accreditation process and digitalizing the accreditation process.

The provosts further resolved to urge the Federal Ministry of Education and the National Board for Technical

Education (NBTE) to exempt Colleges of Health Technology and Nursing Sciences from the ban, citing their prior approval and accreditation by Professional Health and Medical Councils or Boards. They, therefore, appealed to the Federal Ministry of Education to put an end to multiple accreditations by Professional Health and Medical Councils or Boards.

The conference noted with deep concern the undesirable exclusion of Colleges of Health Technology and Nursing Sciences from TETFUND's funding schedule.

the certificate was issued by the University of Nigeria,” the reply to the Commission by the school read in part.

The university’s position appears to be supported by all available facts. Indeed, other enquiries made from those that were in a position to know showed that he played truancy, and was unable to utilise opportunities accorded him to retake courses, including Virology (MCB 431AB), which he failed repeatedly.

The university, at some point, also advised him in writing to withdraw for reasons of truancy and poor academic performance, it was learnt.

But the Premium Times report stated that for Nnaji who claimed to have graduated in July 1985, in the course of investigation, its reporter sighted a letter he wrote to UNN on May 1, 1986, wherein he begged to be given another opportunity to retake a terminal course in September of that year.

Those familiar with his case said the university declined to grant his request. It also obtained a copy of the Order of Proceedings of the 20th Convocation Ceremony of the university, which contains the names of students who graduated in 1985. Mr Nnaji’s name, it stressed, was missing from the list.

The recent letter by Ortuanya, comes a few months after NYSC also disowned the minister’s discharge certificate marked A231309 and dated 1986.

Investigations by the media

house punctured Nnaji’s claims on several grounds.

For example, whereas the degree certificate Nnaji parades is dated July 1986, his NYSC certificate indicates that he served from April 16, 1985, to May 15, 1986. This is not only an unusual 13-month long service as against a oneyear national service, but also about three months earlier than his purported graduation from the university in July 1985.

In other words, it would mean that he started serving before his graduation. This would therefore be a record for the organisation founded in 1970.

Furthermore, whereas the chief executive of the NYSC at the time he claimed to have undergone the national service was Col. Edet Akpan, who held sway between January 1984 and December 1987, the minister’s supposed NYSC discharge certificate bears the signature of Col. Animashaun Braimoh, who was the fifth CEO of the NYSC between January 1988 and December 1990.

Again, the designation of NYSC’s CEO at the time he claimed to have served and till the early 1990s was “Director,” the report emphasised. The CEO became known as “National Director” later in the 1990s and ultimately as “Director General”, a designation that subsists till date. Surprisingly, the minister’s discharge certificate was signed by a “National Director” in 1986. That was several years before the introduction of that designation.

Ibrahim Oyewale in Lokoja

L-R: Programme Moderator/Master of Ceremony, Mucha Nyandoro; Group President and Managing Director, Trade and Development Bank, Admassu Tadesse; Chief Executive Officer, UAE, Middle East and Pakistan, Standard Chartered, Rola

Abu Manneh; Vice-Chairman and Managing Director, Resources Investment, Mohammed Al Dhaheri; Executive Director and Chief Marketing Officer, ARISE IIP, Nikhil Gandhi; Senior Executive Officer and Portfolio Manager, GEMCORP Capital (Middle East), Asad Hajiyev; and Managing Director and Chief Executive Officer, Lagos Free Zone, Adesuwa Ladoja, during a debate session at The Africa Debate 2025 held in Dubai, United Arab Emirates… recently

DONATION BY IHS NIGERIA TO SUPPORT THE BREATH CLEAN AIR ABUJA PROJECT...

Gov AbdulRazaq: Arrangements Ongoing to Float Local Security Groups

Relocates college of nursing sciences to Ilorin

Governor AbdulRahman AbdulRazaq of Kwara state at the weekend said that arrangements were already in top gear to establish a community security architecture as a first line of defence to checkmate bandits in the state.

Also, stakeholders in both Edu and Patigi local government areas of Kwara North Senatorial District of the state have called on the government to intensify efforts towards deploying more security personnel to the areas to stop further attacks on the various communities in affected areas.

In a communique issued in Ilorin after a parley with

the team of stakeholders from Edu and Patigi LGAs in the state, AbdulRazaq said the establishment of locally grown security outfit would complement the National Forest Guards approved by the federal government recently.

AbdulRazaq also asked the stakeholders to harmonise their positions and present to him within one week on the modalities and logistics requirements to empower the local vigilantes and hunters.

The communique was signed by Alhaji Dabarako Mohammed (Garikuwan Patigi) Chairman, Edu/ Patigi Stakeholders and Alhaji Mohammed Sambo Magaji (Magatakardan Lafiagi), Secretary, Edu/ Patigi Stakeholders.

“The stakeholders acknowledged all the efforts of his excellency towards overcoming the insecurity situation in the state but conveyed the feelings of displeasure and despair of the people of both Local governments on the delayed visitation of his excellency to both LGAs to console and commiserate with them since the banditry and kidnappings started invading their homeland," the statement said.

They also informed the governor that the activities of the insurgents have not only crippled the economic and social lives of our people but it has also mentally and psychologically traumatised the people.

The team requested that:

Army dismisses rumours of attack on base in Kwara

"More troops and as well the newly trained National Forest Guards should be equipped and deployed immediately to flush out the bandits from their hideouts

"They also brought to the attention of the governor the deplorable state of the roads leading to the two local governments especially with regards to the Tsaragi-Patigi road, the total darkness, nonfunctioning waterworks in Lafiagi and Patigi townships due to no electricity supply to power the equipment as well as the need for adequate support for agriculture which is the mainstay of our people".

Responding, on the issues of paying condolence and assessment visits to the two local governments, the

NDLEA Smashes Cocaine Cartels Behind 6 UKbound Shipments, Arrests Arrowhead, 5 Others

Michael Olugbode in Abuja

Operatives of the National Drug Law Enforcement Agency (NDLEA) have dismantled two major drug cartels behind six different consignments of cocaine concealed in walls of stainless cups, body cream and hair gel containers.

The spokesman of the anti-narcotics agency, Femi Babafemi, in a statement on Sunday, said the operation was successful as a result of series of intelligence led operations that lasted over three weeks

across Lagos, and led to the arrest of five suspects and ultimately the arrowhead of the syndicate, Alhaji Hammed Ode, who parades himself as a businessman and real estate developer.

Babafemi said the beginning of the end of the criminal syndicate’s operations began on 16th September 2025 when NDLEA operatives at the export shed of the Murtala Muhammed International Airport, Lagos, intercepted 174 parcels of cocaine weighing 13.40 kilogrammes concealed

in walls of cocoa butter body cream containers, which led to a prompt arrest of a cargo agent.

The spokesman said further investigations revealed Alhaji Hammed Ode as the mastermind of the shipment and after weeks of intelligence, it was established the alleged drug baron had reported a dispute at the Zone 2 headquarters of the Police in Lagos, after which the agency sought the cooperation of the police to get the suspect into custody.

Babafemi said during his preliminary interrogation, Ode admitted ownership of the consignment which he claimed he bought at over N150 million.

He claimed to be a businessman and estate developer following his return from the United Kingdom in 2024, saying he had lived for over 27 years in many European countries including Austria, Netherlands, France, Germany, and Asian country, Saudi Arabia before settling in the UK.

governor acknowledged that his visit was important and has never taken it for granted. He assured that the visit to both LGAs are scheduled and assured that every citizen of the state must be protected from all enemies of the state. He also said that palliatives and other logistic support shall be given to the victims and families of those who

lost their lives in the debacle. Besides, in a key securityrelated move, the Kwara State Government at the weekend ordered the relocation of the staff and students of the College of Nursing Sciences at Oke-Ode town (KWCONOO) to Ilorin, following security unrest in parts of Kwara South and North senatorial districts.

Ndoma-Egba: Nigeria's Survival a Miracle

Bassey Inyang in Calabar

Leader of the Seventh Senate, Senator Victor Ndoma-Egba, SAN, said it was a miracle that Nigeria was still together as a country, despite the ups and downs it had gone through.

Ndoma-Egba spoke on Nigeria’s 65th independence anniversary, when the executives of the Cross River State Council of the Nigeria Union of Journalists (NUJ), led by its Chairman, Comrade Archibong Bassey, paid him a courtesy visit at his home in Calabar, at the weekend.

He said, “Sixty-five years in the life of a human being is a very long time, because at 65, if you are not a grandparent yet, you should be close to being a grandparent. At 65, you should have retired from what you are doing, except you are in the academics,

because in academics, they now retire at 70.

“At 65, essentially, as a human being, you should have achieved everything you would have to achieve, or you would have given up trying to achieve those things. But for a nation, 65 years is a very short time in the life of a nation."

Ndoma-Egba, who is ProChancellor and Chairman of the Governing Council of Federal University of Oye-Ekiti, in Ekiti State, said even as short as the time was, “We have had these, heavily packed experiences. A cocktail of experiences. I am still in my sixties.

“Even though I will be exiting my sixties in a couple of months, I have seen colonial rule. I saw the fight for independence. I saw independence. I saw a future of hope when everybody was hopeful. Everything was just moving."

Hammed Shittu in Ilorin and Linus Aleke in Abuja

L-R: One of the recipients of Renewed Hope Baby Kits for expectant mothers and cooking gas cylinders, Hajia Zanat Abubakar; Chief of Staff to the Minister of State for the Federal Capital Territory (FCT), Dr. Abdullahi Kauran-Mata; Permanent Secretary, FCT Health Services and Environment Secretariat (HSES), Dr. Baba Gana Adam; Mandate Secretary, FCT-HSES, Dr. Adedolapo Fasawe; and Minister of State, FCT, Dr. Mariya Mahmoud, during the donation by IHS Nigeria to support the Breath Clean Air Abuja Project in the FCT and the official launch of the projects at Asokoro District Hospital, Abuja… recently

2025 NBC CLEAN-UP EXERCISE IN APAPA...

World Teachers Day: NLC Decries Poor Teachers’ Remuneration by School Owners

Urges action on UNESCO’s benchmark for education Okpebholo salutes Edo teachers' contributions to state Devt

Gov Oyebanji extends Ekiti teachers’ retirement age to 65 years Kwara NUT tasks govt on implementation of teachers' allowances, harmonised retirement age, others As Koiki urges govt to treat teachers as partners in nation-building

Onyebuchi Ezigbo in Abuja, Adibe Emenyonu in Benin City, Hammed Shittu in Ilorin, Funmi Ogundare and Gbenga Sodeinde in Ado Ekiti

Nigeria Labour Congress (NLC) has bemoaned the poor salaries being paid to teachers in public schools and most private institutions in Nigeria.

NLC said most teachers working in private schools were not paid the national minimum wage, stating that they do not have health insurance or are entitled to pensions.

It said the present students to teacher ratio was unacceptably very high, insisting that government at all levels should ensure that public education is better funded by implementing UNESCO's benchmark for education.

Edo State Governor, Senator Monday Okpebholo, extended

his appreciation and goodwill to all teachers in the state on the occasion of World Teachers' Day.

In a statement through his Chief Press Secretary, Mr. Fred Itua, the governor lauded the dedication, resilience, and invaluable contributions of teachers to the development of Edo State and humanity at large.

The statement read, "Today, as the world celebrates the noble profession of teaching, Governor Okpebholo joins the people of Edo State in celebrating our educators, the bedrock of our society.

"Our teachers are more than just instructors; they are nation builders, mentors, and the architects of our future. Their tireless efforts and commitment to moulding the next generation of leaders, innovators, and productive citizens are truly

commendable.

"The theme for this year's celebration resonates deeply with our administration's commitment to revitalizing the education sector. We recognize that no educational reform can succeed without the active participation, professional development, and welfare of our teachers.

"The Okpebholo administration is committed to implementing policies that will not only improve the working conditions of our teachers but also enhance their capacity through continuous training and access to modern teaching tools."

Okpebholo acknowledged the pivotal role teachers playec, often under challenging circumstances, in ensuring that quality education was accessible to every child in Edo State.

In Ekiti State, Governor

Biodun Oyebanji approved the immediate extension of the retirement age of teachers in the state from 60 years to 65 years.

Oyebanji also announced the extension of the service years from 35 to 40 years.

The governor rewarded outstanding teachers in the state with cash gifts totalling N46 million, approved upward review of Science Teachers and Head of Department allowances, as well as immediate payment of 2019 leave bonus arears to further motivate the teachers.

Oyebanji made the declarations on Sunday during the 2025 World Teachers’ Day celebration held at the Ekiti Parapo Pavalion, Ado Ekiti.

No fewer than 5,000 teachers attended the colourful event, which was turned into a carnival, as teachers across different cadres adorned in

STRIKE: DANGOTE REFINERY LAUDS TINUBU, RIBADU, AJAYI, OTHERS OVER ROLES IN SETTLING DISPUTE

of labour and the largest private sector employer in the country as well as the largest contributor to Nigeria's tax revenues.

The company said that its compensation framework is benchmarked against international standards and designed not only to reward performance but also to protect employee welfare, uphold dignity in labour and provide a safe and enabling workplace for its people.

Through continuous training, mentorship and professional development, the

refinery said it creates visible pathways for growth, thereby empowering its employees to advance into leadership roles and to build long-term and fulfilling careers.

“One institution that we revere and must loudly acknowledge is the Nigerian judiciary. They stood up for the truth and proved themselves as the bastion of hope for all of us. It is unfortunate that the oligarchs publicly displayed their rascality and lawlessness by refusing to accept service of valid court orders that sought to restrain their destructive

actions.

“ Regardless, the fact that the judiciary came to society's rescue at our critical moment of need, notwithstanding the intimidation of the hypocritical and sabotaging oligarchs, stands the judicial institution out as a just arbiter,” it stressed.

Meanwhile, some aggrieved members of PENGASSAN in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) branch, have accused their National President, Festus Osifo of “undemocratic conduct and

constitutional violations”. Besides, in a petition addressed to the registrar of trade unions, ministry of labour and productivity, the members raised concern about the conduct of PENGASSAN General Secretary, Lumumba Okugbawa. They therefore urged the federal government to intervene regarding the issues raised about the leadership of PENGASSAN, explaining that despite their efforts, “numerous letters and correspondences” have been met with utter disregard and non-responsiveness.

Ankara uniform sang and danced in appreciation of the governor’s teacher-friendly policies.

Kwara State Wing of the Nigeria Union of Teachers (NUT) called on the state government to address outstanding welfare issues affecting teachers in the state.

The welfare issues, according to NUT, included the non-implementation of the 27.5 per cent Teachers Specific Allowance (TSA), harmonised retirement age and rural allowances.

Speaking at the 2025 World Teachers’ Day celebration on Sunday in Ilorin, the state chairman of the union, Comrade Yusuf Agboola, said the future of education in the state depended largely on how well teachers were treated, equipped and motivated. Education advocate and Chief Executive Officer of Greensprings School, Mrs. Lai Koiki, yesterday, called on government and stakeholders to move beyond lip service to treat teachers as partners in national development.

Fubara Meets Wike, Loyalists

Chuks Okocha in Abuja

Rivers State Governor Siminalayi Fubara, on Saturday night, met again with his predecessor, now Minister of the Federal Capital Territory (FCT), Nyesom Wike, this time alongside a larger group of political leaders loyal to the minister.

The meeting was part of measures to consolidate the peaceful political atmosphere in the oil-rich state, following the lifting of the state of emergency imposed on the state by President Bola Tinubu.

The closed-door meeting held at the Port Harcourt residence of elder statesman, Chief Ferdinand Alabraba, lasted till the early hours of Sunday.

It followed a session on Wednesday between the governor and members of his cabinet.

During the session, Fubara directed commissioners affected by a recent Supreme Court

judgement to step aside, while eight others unaffected by the ruling had since resumed duties.

Although details of the meeting with Wike and his allies were not disclosed, it was believed that both leaders were aligning efforts to uphold the peace accord reached under Tinubu’s supervision during the six-month emergency rule in the state.

The renewed engagement also came shortly after Fubara’s visit to Tinubu, where he reaffirmed his commitment to peace and sought presidential counsel. Similarly, the FCT minister, during a recent appearance on Channels Television’s Politics Today, restated his commitment to the peace process.

He stated that he had no intention of influencing the selection of new commissioners, a departure from the 2023 scenario, when most of the cabinet members were inherited from his administration.

L-R: Corporate Affairs and Sustainability Specialist, Nigerian Bottling Company (NBC), Eriifeoluwa Banjo; Senior Manager, External Communications, NBC, Samuel Iboroma; Corporate Affairs and Sustainability Director, NBC, Soromidayo George; Chairman, Azare Community Development Association, Apapa, Jide Santos; Youth Coordinator, National Youth Council of Nigeria (NYCN), Apapa Chapter, Samuel Idoko; and Business Finance Manager, NBC, Gboyega Apata, during the 2025 NBC Clean-Up Exercise in Apapa Community, organised in commemoration of World Clean-Up Day… recently

PRESIDENT MAHAMA MARKING THE CELEBRATION OF YORUBA DAY IN ACCRA...

Tinubu: Never Again'll S'East Be Forgotten, Zone Getting Fair Share of FG Projects

Abia stakeholders' demand Kanu’s release, seaport, rail link with South-south, halt to destruction of Igbo property in Lagos Ohanaeze

Benjamin Nworie in Abakaliki and Emmanuel Ugwu-Nwogo in Umuahia

President Bola Tinubu has given firm assurance that the South-east "will never again be forgotten" in the socio-economic and political affairs of the country.

Tinubu said his administration had intentionally been reversing the apparent marginalisation of the zone by not only appointing the Minister of Works from the South-east, for the first time, but also giving the zone its fair share of development projects.

Tinubu gave the assurances of inclusiveness in Abia State at the weekend, when he came to inaugurate a number of projects executed by Governor Alex Otti.

The president, who was expected to be physically present to inaugurate the projects, after he could not make it in a previous schedule, sent his works minister, David Umahi, to "ably represent" him and deliver his message to Ndigbo.

Tinubu praised Otti "for the great works" he was doing

2025. It said this translates to a combined remittance of over N358.67 billion based on the prevalent exchange rate in enthroning a conducive host community environment in Nigeria.

Still on host communities, the NUPRC said it was overseeing at least 536 projects at various stages of completion including schools, health centres, roads and vocational centres. It explained that these were being funded by the trust fund, adding that the

in Abia State, calling him "a miracle governor", after inaugurating several projects, including the remodelled Michael Okpara Auditorium in Umuahia, and seven road projects in Aba.

The most significant was the long-abandoned 6.7-kilometre Port Harcourt Road reconstructed by Julius Berger at the cost of over N36 billion.

He told Abia people that he remained committed "to helping your governor, working with him, to ensure that Abia State fully takes back their state," adding that other political leaders in other South-east should emulate their Abia counterparts.

The president observed that Abians, irrespective of their different political platforms, were united and came together to receive him and also appreciate the good job their governor was doing.

Addressing the people of Abia at the Enyimba Stadium, Aba, Tinubu listed the multibillion projects the federal government had brought to Abia and the South-east, in

achievement has tremendously curbed crude oil theft.

As part of its mandate to develop the country's hydrocarbon, the commission said it has recorded 306 development wells drilled and completed between 2022 to date. The NUPRC said it issued Nigeria’s first Petroleum Exploration Licence (PEL) for a large offshore geophysical survey covering 56,000 km² of 3D seismic and gravity data. Furthermore, the commission stated that it

general.

He stated, "Presently, we are completing the 56-kilometre dualised Umuahia-Aba Road, costing us N66 billion, done by the Arab contractors.

"Let me tell you that the Umuahia-Ikot Ekpene, 49 kilometres, we have completed 40 kilometres, and by the request of the governor of Abia State, we have handed over

warns Sanwo-Olu on demolition

the remaining 35 kilometres of the road to him to complete, and for us to enjoy.

"Let me announce that the famous Lagos-Calabar Coastal Highway, at the axis of Akwa Ibom, is passing through this very important road, Umuahia-Ikot Ekpene Road, which means that the moment you are on this road, when completed, in five hours,

you will be in Lagos."

Tinubu further stated that interstate federal roads linking Abia to neighbouring states from different directions were receiving adequate attention.

He said the federal government had fully completed 50 kilometres of the Ikot Ekpene -Aba Road, which is 48 kilometres by two, meaning that one full

carriageway and a half, costing N65 billion, had been executed while work would soon start on the remaining portion. On the Port HarcourtAba Road, Tinubu said his government had fully completed one carriageway of the 43-km highway and so in "15 minutes from Aba, you will be in Port Harcourt" and in 30 minutes at Onne port.

The Kaduna State Governor, Senator Uba Sani, has approved the release of N2.3billion for the payment of pension entitlements, gratuities, and death benefits to retired civil servants and families of deceased workers in the state.

In a statement, yesterday, in Kaduna, the commissioner for Information, Ahmed Maiyaki, said the disbursement included payments under both the

has reprocessed 17,000 linekilometres of 2D seismic data and 28,000 square kilometres of 3D seismic data, producing sharper, higher-resolution images of our petroleum systems and reducing the uncertainties that once hindered exploration decisions.

On crude oil theft, it noted that in 2021 the average daily crude oil losses stood at 102,900 barrels per day or 37.6 million barrels per year.

"However, due to combined efforts of the General Security

Contributory Pension Scheme (CPS) and the legacy Defined Benefit Scheme (DBS).

According to him, the latest release brings the total amount paid by the current administration in 2025 to N6.6 billion, bringing cumulative pension-related disbursements over the past two years to N13.5 billion.

The statement reiterated government's unwavering commitment to the welfare of pensioners, describing their wellbeing as a top priority.

The commissioner

Forces and Private Security Contractors (TANTITA) as well as collaborative effort of the commission this has reduced by 90 per cent to specifically 9,600bpd in September 2025.

"Furthermore, two pioneer regulations introduced by the Commission have also contributed to the success, namely: The Upstream Measurement Regulation and the Advanced Cargo Declaration Regulation respectively, have contributed as pioneer efforts at achieving

noted that, "Timely and consistent payments are part of measures designed to alleviate the economic burden faced by senior citizens."

Providing further details on the disbursement, the Executive Secretary of the Kaduna State Pension Bureau, Ibrahim Balarabe, disclosed that a total of 661 beneficiaries across both state and Local Government Service would benefit from the current tranche.

"Of the total amount, N1.7

transparency in hydrocarbon accounting", the NUPRC stated.

Even outside the shores of Nigeria, Komolafe-led NUPRC said it has continued to show leadership as it championed the establishment of the African Petroleum Regulators Forum (AFRIPERF).

According to the statement, the last event of the AFRIPERF at the Africa Oil Week (AOW) was attended by 16 African countries namely: Nigeria, Ghana, Somalia, Gambia

billion has been earmarked for the Accrued Rights of 511 retirees under the CPS, while N585 million will be disbursed as gratuities and death benefits to 315 pensioners and next-of-kin under the DBS," Balarabe said.

He further clarified that "the Accrued Rights of CPS retirees will be credited directly into their respective Retirement Savings Accounts (RSAs) maintained by their Pension Fund Administrators (PFAs).

Madagascar, Sudan, Guinea, Togo, Angola, South Africa, Mozambique, Benin Republic, Kenya, Namibia, Morocco and Mauritania. The commission explained that AFRIPERF provides regulators with the mechanism to harmonise oil and gas development policies to facilitate cross-border infrastructure development, benchmark fiscals and present a strong voice for Africa in hydrocarbon advocacy globally.

John Shiklam in Kaduna

L-R: Olofa of Offa, Oba Muftau Gbadamosi; President of Ghana, John Mahama; and Oba Saheed Elegushi of Ikate kingdom, during the President's reception for the traditional rulers as part of activities marking the celebration of Yoruba Day with the Yoruba Community in Accra, Ghana... recently

MEGA RALLY AGAINST SABOTEURS IN THE PETROLEUM SECTOR...

ADC: Politics Blinding Tinubu to Insecurity

Offers solutions

Chuks Okocha in Abuja

African Democratic Congress (ADC) has criticised President Bola Tinubu for alleged insensitivity to Nigeria’s worsening security crisis, accusing him of prioritising political appearances over the sacred duty of protecting the lives of Nigerians.

In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi,

ADC also dismissed as mere “political rhetoric” the president’s remarks at the Church of Christ in Nations (COCIN) in Jos that his mission was to unite Nigerians.

ADC said the president’s actions since he came into office did not indicate that he understood what it would take to unite Nigerians.

The party said Nigeria was under attack, and offered suggestions to the Tinubu

administration on how to tackle insecurity in the country.

ADC said it was deeply disturbed by the brazen insensitivity of Tinubu to the growing insecurity in the country.

According to Abdullahi, “As the Commander-in-Chief of Nigeria’s Armed Forces, in whom the constitutional authority to secure the lives and property of citizens is vested, the president’s continued

preference for attending social and political events in the midst of alarming deterioration of internal security is both unacceptable and irresponsible.

“Just today, the newspapers are reporting that nine Local Government Areas in Kwara State, a state that had until this APC-led administration enjoyed a reputation for peace and stability, reportedly came under siege by armed bandits.”

Abdullahi stated, “In a

UNCERTAINTY AS US DELAYS ON AGOA RENEWAL, UN EXPRESSES

Also included are: Metals, machinery, and transportation (21 per cent), which is an umbrella for items like manufactured metal goods and vehicles; agriculture and food (7 per cent) — plus crops and processed foods while, while textiles and apparel, including clothing and fabrics have 1 per cent of the total trade.

According to the UNCTAD report, since its launch in May 2000, AGOA has supported sub-Saharan African exports to the US through preferential access. However, the recent expiry of the scheme, it said, would threaten export diversification and industrialisation across the continent.

“African and non-African exporters are already facing increased trade barriers in the US market. Country- and sector-specific tariffs that have been introduced by the US since April 2025 have increased tariffs for the average AGOA country from below 0.5 per cent to 10 per cent. For key exports, such as agriculture and food products, metals, machinery and transportation, textiles and apparel, they have already triggered a doubledigit increase in duties.

“The expiry of AGOA

would disproportionately affect Africa’s lightmanufacturing exports to the US, namely apparel and agro-food products, such as fish and dried fruits. Without AGOA’s preferential treatment, the 32 countries that received preferences until September 2025 would face a second wave of tariff increases as country-specific and sectoral tariffs would be added on top of most-favoured nation (MFN) rates, instead of the current preferential treatment under AGOA.

“Due to varying tariff rates and exceptions for sensitive raw materials, African exports of agricultural goods and manufactured products would be subject to tariffs that are 2-to-3 times higher than those applied on fuels and minerals,” the UN organisation stated.

According to the report, exporters of mined commodities are the least affected by the US tariff changes on African goods.

Countries like the Democratic Republic of Congo, Nigeria or Angola— whose exports are primarily fuels and minerals, the report said, face minimal tariff increases, as their main exports, already benefit

from low MFN tariffs, or exemptions from additional duties.

More diversified economies, such as South Africa, are less exposed to AGOA’s expiry but have already experienced significant tariff increases this year due to country-specific and sectoral tariffs, the UN added.

“AGOA’s expiry could further hinder Africa’s industrialisation and export diversification. Since most US imports from AGOAeligible countries already consist of fuels, metals, and agricultural raw materials, the end of the trade pact could further exacerbate commodity dependence.

“Labor-intensive sectors, like apparel and agriculture, could be disproportionately affected, with negative repercussions not only on export diversification, but also on poverty reduction and women’s employment,” it stressed.

If AGOA is not renewed, nine African countries will face an average US tariff of 15 per cent or more—up from just 3 per cent today, the report emphasised.

“Small exporters specialising in apparel and agricultural products, such as Lesotho, Kenya, Cabo Verde,

development that underscores the extent of state fragility, residents are now being forced to provide food items, drinks, money, and other services as ransom payments. This is a complete failure of governance.

“Yet, the presidency has neither acknowledged the situation nor outlined any plan of action to support the affected communities or hold those responsible to account.”

The ADC spokesman said,

WORRY

Madagascar and the United Republic of Tanzania, would be among the most affected, with average trade-weighted tariffs doubling to 20 per cent or higher.

“This would imply that African exports to the US could face higher tariffs than those from many developed countries. As such, it would be at odds with the commitment to support developing countries’ integration into the global market,” UNCTAD said.

According to the UN body, AGOA exports refers to the share of exports to the US eligible under AGOA and not total exports.

Although through AGOA, Congress seeks to increase US trade and investment ties with the region, promote economic growth through trade, and encourage the rule of law and market-oriented reforms, the latest efforts to renew it have not been successful. There are currently 32 AGOAeligible SSA countries, of 49 potential programme country beneficiaries.

A US Congress document seen by THISDAY showed that in 2024, US AGOA imports totaled $8.0 billion, down 13 per cent from $9.3 billion in 2023. AGOA imports remain concentrated in a few

countries and industries, but diversification has grown since the 2000s.

Crude oil imports stood at $2.0 billion in 2024, and comprised 25 per cent of AGOA imports. Such imports peaked in 2011 with a value of $48 billion, but have fallen partially due to expanded US production. Nigeria was the top AGOA supplier of crude oil to the United States in 2024 ($1.6 billion).

Non-energy imports in 2024 were valued at $6.0 billion.

Top non-energy import categories include: Passenger vehicles ($2.4 billion), apparel ($1.2 billion), agricultural and food products ($949 million), base metals ($711 million), and chemicals ($251 million).

In October 2024, the Nigerian government called for an extension of the AGOA beyond its 2025 deadline. Speaker, House of Representatives, Tajudeen Abbas, made the call while speaking during the AGOA training workshop organised by USAID and Prosper Africa for stakeholders in Nigeria’s Textile and Apparel industry.

Abbas said AGOA has been crucial in fostering trade and economic development between Africa and the United States by providing African countries access to US

“On the same day, a similar tragic attack by gunmen was reported in Kogi State, during which travellers were killed and several others, including women and children, were abducted for ransom.

“Earlier in the week, there were reports that more than 180 schools across states in northern Nigeria have been shut and children kept at home as a result of worsening insecurity.

markets and allowing them to diversify their economies beyond raw materials. He, however, noted that even though Nigeria is a beneficiary of the policy and has great potential to capitalise on the opportunities, many Nigerian businesses remain unaware of the programme, thus limiting their chances of benefitting from it.

Elsewhere, Kenyan President William Ruto said during the recently ended UN General Assembly: “I will be asking (Trump) for the US to consider seriously renewing and extending AGOA for at least a minimum of five years.” “It is a platform that connects Africa and the U.S. in a very fundamental way,” he added.

AGOA-dependent industries likely employ some 1.3 million people whose jobs are now at risk — in countries where many people have few if any other options in the case of sudden unemployment. In Kenya, more than 66,000 people, many of them women, were employed through now-vulnerable textile and apparel exporters to the US. In the garment districts of Kenya’s bustling capital, job cuts and fears over livelihoods have already begun, it was learnt.

L-R: Comrade. Stephen Eriba; Patriotic Nigeria Youth Forum, Comrade. Olumide Odumosu; Convener, Comrade. Olayinka Dada; and Comrade. Omaga Daniel, during the mega rally against sabotage and economic saboteurs in Nigeria’s petroleum sector in Abuja… recently KINGSLEY ADEBOYE

CELEBRATING TEACHERS…

L-r: Speaker, ekiti State House of assembly, rt. Hon adeoye aribasoye; deputy Governor, chief (mrs) monisade afuye; award recipient, mr. adelola; ekiti State Governor, mr. biodun oyebanji; commissioner for education, dr (mrs) adebimpe aderiye; national President, academic Staff Union of Secondary Schools (aSUSS), comrade Sola adigun, and State chairman, national Union of teachers (nUt), comrade egbeyemi Lawrece adedeji, during the 2025 World teachers’ day celebration in ado-ekiti...yesterday

Suspected Herdsmen Kill Two in Renewed Benue Attack

Bandits kill pastor after payment of ransom in Kwara

George Okoh in makurdi and Hammed Shittu in Ilorin

A renewed attack in Naka, Gwer -West Local Government Area of Benue State by suspected herdsmen has claimed two lives. According to local sources, the incident occurred last Saturday when the victims were returning from their farm. The source said that one Odiua Oshinyo of Tse Adiagh, Naka, had reported to the police that his son, Terkimbi Gyaluwa, 25, returned home and narrated how they were attacked by armed herders while working on their farm.

Imisi Wins BBNaija Season 10 with N150m Prize

Imisi, the eccentric firebrand who kept viewers glued for 70 days with her boldness, dramatic clashes, and seamless switch between posh and local accents, was yesterday, crowned winner of the 10th season of the popular reality TV show, Big Brother Naija.

Born Opeyemi Ayanwale, the Oyo State native was among the 15 ladies who entered the house on the first launch night. Describing herself as a “lone star,” the actor and fashion designer vowed to fight for herself on the show — and she did. Her

authenticity and fearless personality quickly won her the audience’s hearts.

Out of the 29 housemates who began the season, 18 were evicted before the finale. Sabrina exited the show due to health concerns, while Faith was disqualified. For the first time in the show’s history, nine housemates made it to the final night.

“I’m so excited. I never saw myself in the top two. I can’t even express myself. I’m overwhelmed, so happy,” said an emotional Imisi, moments before she was announced winner.

Life Card International Unveils Dubai Office

Sunday Okobi

As part of efforts to enhance the real estate sector and expand the wealth of investors, Life Card International Limited, a global real estate investment firm, has officially announced the opening of its Dubai, United Arab Emirates, office, aimed at enabling Nigerian investors to benefit from high-yielding investment opportunities in Dubai.

The real estate firm revealed this during its inaugural cocktail in collaboration with Azizi Developments recently in

Lagos.

According to the company, apart from Dubai being a haven for the property sector, investing in the city affords huge returns on investments, which can be reinvested into the Nigerian economy.

Speaking at the event, the Chief Executive Officer, Life Card International Limited, Grace Ofure Ibhakhomu, stated that her firm’s decision to partner with Azizi Developments is not a mere coincidence, rather a well-calculated strategic move towards increasing wealth for both local and foreign investors.

Upon receiving the report, the Divisional Police Officer (DPO) in Naka mobilised patrol and tactical teams to the scene, where two corpses were recovered and deposited at the General

Hospital mortuary in Naka. The source further said joint patrols have been intensified in the area to forestall further attacks and ensure the arrest of the perpetrators.

Efforts to confirm the incident from the spokesperson of the Benue State Police Command, DSP Udeme Edet, was not successful as the time of this report.

Army, Police Rescue Six Kidnap Victims in Taraba

Linus Aleke in abuja

The High Command of the Nigerian Army yesterday disclosed that troops of 6 Brigade, Sector 3 Operation Whirl Stroke (OPWS), in collaboration with operatives of the Nigeria Police, successfully rescued six kidnap victims,

including a child, in the early hours of 2 October 2025.

Meanwhile, the Defence and Police Officers’ Wives Association (DEPOWA) offered prayers to God for the protection of their husbands, who stay awake to keep Nigerians safe.

The acting Assistant

Director of Army Public Relations, 6 Brigade, Nigerian Army, Lieutenant Umar Muhammad, revealed that the victims were rescued as part of the ongoing clearance operations in Taraba State, code-named Operation Lafiya Nakowa.

He said: “On 2

October 2025, suspected kidnappers intercepted a Toyota Carina II vehicle travelling from KatsinaAla in Benue State and abducted the passengers after forcing the vehicle to a halt near an abandoned checkpoint. The victims were taken into the bush by the armed men.

Fear of Epidemic as Butchers Accuse LG Chairman of Ozoro Abattoir Neglect

Sylvester Idowu in Warri

Butchers and executive members of the Ozoro Abattoir in Delta State have raised the alarm over the deplorable state of the facility, accusing the Isoko North Local Government Council Authority of total neglect and abandonment. The leadership traced the failure of the facility to the alleged substandard execution of the contract in the use of lower quality materials, ranging from the sizes of rods, poles to poor flooring, among others.

They placed the blame on one of the past Presidents-General of the Ozoro Kingdom, Hon. Miller Akpoili, who they alleged did not do the work to the required specifications, leading to the dilapidation of the infrastructure.

The butchers therefore, urged the current Isoko North Local Government Authority for immediate intervention to restore a functional solar water supply, electricity, cage, and repairs of the slaughter fence to prevent the risk of losing their cattle.

Katsina CSOs Demand Improved Budget for Education

Francis Sardauna in Katsina

The Civil Society Organisations (CSOs) in Katsina State have called on the federal and state governments to increase the education budget to tackle the myriad of challenges besetting the sector. They spoke at the 2025

state-level summit on education financing organised by Civil Society Action Coalition on Education for All (CSACEFA) last Saturday in Katsina.

With the theme: ‘The Role of the Government, the Community and CSOs in Protecting the Right to Education’, the one-day

summit brought together members of the CSOs, stakeholders in the education sector,, and students.

Addressing the participants, the state Chairman of the Coalition of Civil Society Organisations, Abdulrahman Abdullahi, said the government should increase the education budget to address the challenges bedevilling the sector. He lamented that most children are sitting on the bare floor to learn. “There is a need for improved budgeting for education to address this and other challenges. Parents should also support the government in funding education,” he stated.

Mutiat Ladoja Charges Govts, Nigerians to Assist PLWD

Kemi Olaitan in Ibadan

Former Oyo State First Lady and wife of the Olubadan of Ibadanland, Ayaba Mutiat Ladoja, has presented cash donations of over N2million and other gift items worth several millions of naira to 15 care homes of People Living With Disabilities (PLWD) and

orphanages in Ibadan as part of the activities to mark her 70th birthday. This is just as the state Governor, Seyi Makinde, commended her support, especially in his political trajectory of becoming the governor of the state, describing her as a strong woman.

Ladoja, while making the donations, called on all tiers of government, corporate organisations, well-meaning individuals among other categories of people to be more sensitive to the plights of the PLWD in society, noting that they need attention, love, and care.

She maintained that many of the PLWDs have the potential to be greater in life if they are assisted either through the award of scholarship or any other means, stating that rather than looking down on them, the people should explore the abilities in their disabilities.

Group Sports Editor Duro Ikhazuagbe

Email duro.ikhazuagbe@thisdaylive.com

08111813083 SMS Only

Super Eagles Camp Open in South Africa for Lesotho Clash

Injuries, several yellow cards amongst Chelle’s worries

Duro Ikhazuagbe

Super Eagles will open camp in South Africa today ahead of Friday’s 2026 World Cup qualifiers against Lesotho inside the Peter Mokaba Stadium in Polokwane.

With all the invited 23 players expected to fly straight from their respective bases into South Africa, Head Coach, Eric Chelle, and his backroom staff must be excited by the good shows put up by top Super Eagles for their clubs in weekend fixtures before the international window.

Apart from Victor Osimhen who has been consistent since coming back from injury sideline, new invitee, Akor Adams also got on the scorers’ sheet, helping Sevilla to end Barcelona’s 15-game unbeaten run with a 4-1 victory. Adams netted the fourth goal for Sevilla in the 98th minute after receiving a brilliant assist from another Nigerian international Chidera Ejuke.

Osimhen had in midweek UEFA Champions League clash scored a 16th minute penalty that proved to lone winning goal against Liverpool.

However, the fears over Eagles defence heightened with injuries to key invited players. With Bright Osayi-Samuel out, another invited Werder Bremen defender, Felix Agu, was forced out of Saturday’s Bundesliga clash against St.Pauli due to injury. He remains a major doubt for Friday’s game with Lesotho as he’s scheduled to undergo a Magnetic Resonance Imaging (MRI) scan today to assess the injury to his ankle. Wilfred Ndidi who is just working his way back to the team after injury layoff, on Saturday committed the catastrophic mistake that led to Galatasaray’s equaliser in the Istanbul Derby against Osimhen’s Galatasaray at Rams Park.

Therefore, as the camp in Polokwane opens, while Chelle will be happy with his sharp forward line, he will probably be filled with trepidation on what to make of his backline depleted by injuries and yellow cards. A second yellow cards will rule them out of the final group qualifier against Benin Republic next week in Uyo.

Urhobo College, Seven Others for Zenith Bank /Delta Principals’ Cup Q’finals

The 2025 Delta Principals’ Cup football competition sponsored by Zenith Bank PLC, has entered crucial stage with the emergence of quarterfinalists from the zonal playoffs decided last week in various centres across the state.

Over 1,000 secondary schools registered for the annual youth developmental initiative which is in its 8th edition. The kick off took place on September 18th in Asaba and it is now in the final stages with only eight teams still on the cards gunning for the ultimate winners’ trophy.

The teams took part in the preliminaries at Local Government level with only one school winning the sole LG ticket to feature in the zonals.

After the exciting zonal hostilities, Ika North East, Aniocha South, Isoko South, Warri South West, Ndokwa West, Uvwie, Ughelli North and Ughelli South qualified for the last eight stage.

In the pairing released by the organisers, Hideaplus

Limited, Efeizomor Secondary School Owa, representing Ika North East will clash with Justice, Peace and Success Sec. School, winners of the Aniocha South LG, at the St. Patrick College Asaba.

RESULTS

PREMIER LEAGUE

Aston Villa 2-1 Burnley

Everton 2-1 Cry’palace

Newcastle 2-0 Nottingham

Wolves 1-1 Brighton

Brentford 0-1 Man City

LA LIGA

Sevilla 4-1 Barcelona

Espanyol 1-2 Betis

Sociedad 0-1 Vallecano

SERIE A

Juventus 0-0 Ac Milan

Napoli 2-1 Genoa

Fiorentina 1-2 As Roma

NPFL

3sc 1-0 Plateau Utd

Enyimba 0-0 Rivers Utd

Tornadoes 1-1 K’khalifat

Barau 0-1 W’wolves

Bayelsa 1-1 Ikorodu City

Kwara Utd 0-1 Abia War

Bendel 0-1 Nasarawa

Team Brazil Outsmart Top RaceBirds to Win E1 Lagos GP

Sanwo-Olu says event showcases Lagos’ creativity, commitment to

Team Brazil on Sunday emerged the winners of the E1 Lagos GP, clinching their first victory of the series. Powerboat Pilot, Timmy Hansen, and Leva Millere-Hagin, delivered the goods at the E1 Lagos GP, leading Team Brazil through the group races, race-off and to the final.

Team Brazil, which got 38 points for their win, now have their tally up to 89 points. They beat Team Blue Rising to second place, while Team Drogba finished third.

Notable front runners in the series championship standings, Team Rafa and Team Brady, both missed out on the podium here in Lagos, the first race in

Africa!

The E1 Lagos GP is an all-electric powerboat race designed to combine cuttingedge technology, environmental sustainability, and high-speed entertainment on water. It featured teams competing in high-performance electric boats, with international participants and spectators attending the event.

Lagos State is the first African city to host the prestigious E1 Racing Championship. The revolutionary electric powerboat competition held on Saturday, October 4, and Sunday, October 5, at the Victoria Island area of Lagos.

Speaking to journalists during the final of the competition on Sunday, the Governor of

Rafiat Lawal Wins Three Silver Medals at World Championship in Norway

Nigeria’s weightlifting sensation, Rafiatu Folashade Lawal, on Saturday etched her name into the history books as the first Nigerian lifter to win three silver medals at the 2025 International Weightlifting Federation (IWF) World Championships in Forde, Norway.

Lawal competing in the women’s 58kg category, lifted 101kg in the snatch and 128kg in the clean and jerk, finished with a total of 229kg to secure her place as No. 2 in the world. North Korea’s Kim Il-Gyong clinched gold with a world record total of 236kg, while Olympic champion Kuo

Hsing-chun of Chinese Taipei took bronze with 224kg.

Lawal’s achievement builds on her remarkable record of success, including gold medals at the 2019 African Games in Rabat, the 2023 African Games in Accra, and the 2022 Commonwealth Games in Birmingham.

Congratulating the champion, NSC Chairman, Mallam Shehu Dikko, stated that “Rafiatu Lawal’s performance in Norway is a proud moment for Nigeria and a shining example of what dedication, resilience, and hard work can achieve.

Energy FC Win 5Stars Premier League 2025, Wallop Snow Lions 4-1

Kunle Adewale

It was football at its best on Saturday at the Showtime Arena, Lekki, Lagos, in the national finals of the 5Stars Premier League 2025, as Energy FC, Abuja defeated Snow Lions, to cart away the giant trophy and a sum

of N3million.

The match, which started on a high tempo with both sides trying to get the opener, but it was the Abuja side that shot into the lead midway through the game through Emmanuel Monday and all efforts by Snow Lions to equalise were

thwarted by Energy FC’s goalkeeper.

On resumption for the second half, the Abuja side scored the second and Titus Ayuba put the game to bed with the third goal. Two late goals from both teams put the scoreline at 4-1. It therefore came as no

surprise as Ayuba was voted Man of the Match.

The 5StarsPremier League 2025 (BIG7 Season) is regarded as the best 7-A-Side competition in Nigeria and has produced some players that are now plying their football trades abroad.

Lagos State, Mr Babajide

Sanwo-Olu, described the first-of-its-kind event in Africa as a demonstration of innovation and progress.

Injured Felix Agu of Werder Bremen now a major doubt for Nigeria’s remaining two World Cup qualifiers against Lesotho and Benin Republic

Team Brazil’s pair of Timmy Hansen (left) and Leva Millere-Hagin yesterday won the E1 Lagos GP leaving Team Blue Rising and Team Drogba this settle for the second and third position. It was the first victory in the Championship series for Team Brazil

GRAND FINALE OF THE E1 LAGOS GP CHAMPIONSHIP...

MAHMUDJEGA

VIEW FROM THE GALLERY

This Strange Tax on CSWs

Oga Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, this explanation that you made of the new tax laws, are you sure you have not released a fox in the chicken coop, let loose a bull in a china shop or even let loose a convicted rapist in a convent? You said in a video posted on X on Monday last week that income earned by commercial sex workers will be taxed by the federal government under your new tax reforms. Citing what you called examples of taxable income, you said the new laws do not distinguish between legitimate and illegitimate sources of income, but only focus on whether money was earned from goods or services.

You said, “There is this extreme example… If somebody is doing runs, they go and look for men to sleep with. You know that is a service; they will pay tax on it. One thing about the tax law, it does not separate between whether what you are doing is legitimate or not; it doesn’t even ask you. It just asks you whether you have an income. Did you get it from rendering a service or providing a good? Then, you pay tax.” He however said sending money to your parents is a non-exchange transaction, which is not taxable.

I see many technical problems with Oga Oyedele’s drive to tax income from [what United Nations agencies delicately call] commercial sex workers, CSWs for short. To begin with, do they keep proper records of their business transactions, including the number of customers per month, quality of service rendered to the customers, and the fees paid for the service? For tax purposes, I am sure you will like to see receipts, vouchers, POS or account transfers, bank statements and annual balance sheets. You may even demand to see audited accounts, maybe by Pannell Kerr Forster. From

this type of business?

The late Director General of National Directorate of Employment [NDE], Malam Abubakar Mohammed, once said one of the things responsible for the early death of many small and medium-sized businesses in Nigeria is the lack of elementary book keeping. Too many small businessmen cannot separate personal from business expenses; I know a shopkeeper in my hometown who puts all the money from his trading in the same box from where he also pays for anything that his wives ask for. Malam Abubakar said no one qualifies to get an NDE loan until he attends a course in elementary book keeping.

My question now is, did any CSWs turn up at NDE for training? If so, I would like to see the Syllabus and Course Content. I will also like to have a word with the instructors, because the chances of misconduct are real in these classes. The danger is real that tutors could be turned into customers through adept seduction. Even in our tertiary and secondary schools, there are many cases of seduction of teachers and lecturers in order for students to get higher

marks. How about this NDE program that is dealing with students who are professional seducers? They even have greater motivation. While normal students are looking for certificates or diplomas that may or not bring income, CSWs in NDE courses are looking for soft loans to start a business. Any skill or talent that they deploy towards this end must count as a wise business investment.

Oga Oyedele, this tax that you are going to collect from CSWs, where is the template? I know that with respect to civil servants and workers in the Organised Private Sector, there is a template for deducting Pay As You Earn [PAYE] taxes. It even has provision for exemptions if the person has a certain number of dependents. Do you have a similar template for CSWs? The problem is, income from this business is totally deregulated. Well before you guys deregulated petrol prices, this ancient trade had been completely deregulated for centuries. Or did you ever see it feature on the template of the old Price Control Board? The Stock Market that posts the daily movement of shares, did it ever capture the movement of prices in this special market? It is more deregulated than diesel, offerings at places of worship or even beggars’ alms.

The going rates for Short Time [as practitioners of the trade call it] varies from city to city. The attractiveness of the sex worker; the customer’s bargaining ability; the desperation of the sex worker occasioned by pressure from landlords, family members and policemen; inclement weather [such as, if it is raining or the night is cold] as well as the level of competition in the street all affect prices. It also matters whether the customer is a visitor to the city who is “stranded.”

The rate for a whole night’s service is obviously higher than for short time.

CSWs do not carry around a POS machine. They will probably not accept

a bank transfer, because Yahoo Yahoo boys have a way of sending a fake credit alert. So, payment has to be in cash, which even EFCC’s Eagle Claw software cannot detect. EFCC will wait in vain for the money to be laundered into a bank account, because the worker will go straight to the market to shop for food, cloth and cosmetics. The money that she will send home for parental support will not go through a bank, but through a home folk going through the motor park. Even the customer who paid the money, will he declare it in the statement of expenses to his office? One bank official who was retiring his touring advance to the auditor added an innocuous expense item, “Man no be wood.”

A puzzling aspect of Oyedele’s explanation is that income from a good or a service will be taxed whether or not the transaction is legal. This is a moral hot potato. Taxing a service is morally tantamount to legitimising it. If a person pays tax on something, which moral right does the state have again to come back later and say what he did was illegal? Why is government not taxing kidnappers and bandits? Nigeria Bureau of Statistics estimated that kidnappers collected N2.2 trillion in ransom from Nigerian families between May 2023 and April 2024. Has Bureau of Statistics published figures of CSWs’ takings within the same period? Just one kidnap victim may pay tens of millions of naira as ransom; all the CSWs in Abuja combined may not make in a month what a kidnap kingpin could make in one incident. So, if it is money that government really wants, why not tax kidnappers, bandits, pirates, secessionists, oil bunkerers, burglars, touts, political thugs, praise singers and even roadside beggars instead of hapless, peace-loving CSWs?

NOTE: Read the full piece in the online edition on www.thisdaylive.com

Oyedele

Governor of Lagos State, Mr. Babajide Sanwo-Olu flanked by the Managing Director/CEO of First Bank, Mr. Olusegun Alebiosu (left); President and Chairman of Board of Directors, Afreximbank, Prof. Benedict Obiorah (right) and others during the grand finale of the E1 Lagos GP championship in Victoria Island, Lagos... yesterday