Issuu

Heirs Energies Acquires Maurel & Prom’s 20.07% Stake in Seplat Energy in $500m Transaction Peter Uzoho Heirs Energies, Africa’s leading

indigenous integrated energy company, has acquired the entire 20.07 percent equity stake

(120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc

at a price of GBP3.05 pence per share, valuing the transaction at approximately $500 million.

The acquisition represents a further milestone in Heirs Energies’ long-term strategy to

strengthen indigenous participation in strategic assets and Continued on page 12

Peter Obi Declares ‘Full Membership’ of ADC, Insists New Nigeria Still a Possibility... Page 36 Thursday 1 January, 2026 Vol 30. No 11225. Price: N400

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Tinubu: With Major Fiscal Reset in 2025, 2026 Will Bring More Robust Economic Growth... Page 8

Unveiling

A NEW DAWN IN REVENUE ADMINISTRATION

www.nrs.gov.ng

THURSDAY, JANUARY 1, 2026 • T H I S D AY

THISDAY • THURSDAY, JANUARY 1, 2026

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0807 401 0580

NEWS

GRAND FINALE OF THE 2025 EDITION OF MARE FESTIVAL IN IDANRE...

L-R: Ondo State Governor, Lucky Aiyedatiwa; and star artiste, Teniola Apata, fondly called Teni, dancing while the latter performed at the grand finale of the 2025 edition of Mare Festival in Idanre, Ondo State… recently

NNPC Announces N12 Trillion Payment to Federation Account in 10 Months

Reports N502bn profit after tax in November Says oil production to recover by December ending

Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of N12.117 trillion in statutory payments to the Federation Account between January and October this year, data contained in its Monthly Report Summary for November showed. The information released yesterday showed that the cumulative statutory payments, which include taxes, royalties and other mandatory transfers to the Federation Account, were delivered against the backdrop of fluctuating crude oil output, volatile gas production and ongoing operational constraints across the oil and gas value chain. The N12.117 trillion remittance places average monthly statutory payments at roughly N1.21 trillion, reflecting the

combined effect of crude oil sales, gas revenues and improved operational efficiency in certain segments of the national oil company’s portfolio. Alongside statutory payments, the NNPC reported a total revenue of N4.358 trillion in November, while profit after tax stood at N502 billion, implying a profit margin of approximately 11.5 per cent, suggesting that while revenues remain relatively strong, cost pressures and structural inefficiencies continue to weigh on net earnings. Operationally, crude oil and condensate production averaged 1.60 million barrels per day in November, with 2025 peak production recorded at 1.77 million barrels per day earlier in the year. This means current output is about 9.6 per cent below the year’s high, possibly reflecting

the impact of maintenance downtime, security challenges and natural field decline. Nevertheless, production levels have remained broadly stable, allowing NNPC to sustain steady sales volumes and statutory remittances. Crude oil and condensate

Nigeria has reaffirmed its commitment to strengthening strategic, bilateral trade and economic partnership with China, reflecting positively on the progress recorded in relations between both countries throughout 2025. The reaffirmation followed the elevation of Nigeria-China relations to a Comprehensive Strategic Partnership, agreed by President Bola Tinubu and President Xi Jinping during the Nigerian leader’s state visit to China in September

2024. Since then, engagements between both countries have intensified across political, economic and technical levels, further consolidating a relationship built on mutual respect, development cooperation and shared interests. Over the past year, cooperation expanded in key priority areas such as infrastructure development, trade and investment, industrial capacity building, technology exchange and people-to-people relations. These engagements,

pillar of NNPC’s earnings profile. Average gas output in November stood at 6,968 million standard cubic feet per day, compared with a yearly high of 7,722 mmscf/d in July, indicating a decline of roughly 9.7 per cent from peak levels. Besides, gas sales followed a

similar trend, closing November at 4,650 mmscf/d, up from 3,443 mmscf/d in September, a rebound of about 35 per cent within two months. This recovery helped stabilise revenues and reinforced gas’ growing importance in Nigeria’s energy mix and export earnings.

NLC Vows to Pursue Urgent Wage Review in 2026 To support govts, politicians with pro-people plans

Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) has said it will engage governments at all levels in a dialogue to ensure urgent review of workers’ wages in view of the escalating inflation and suffering in the land. The labour movement also said its mobilisation in 2026

Nigeria Reaffirms Commitment to Strategic Partnership with China

Michael Olugbode in Abuja

sales fluctuated during the year, peaking at 26.71 million barrels in October, the data indicated, before easing to 19.98 million barrels in November, representing a month-on-month decline of about 25 per cent. In the same vein, gas production remained a key

Nigerian officials say, have helped to deepen institutional linkages and provide a clearer framework for achieving mutually beneficial outcomes. In a statement on Wednesday, the Director-General and Global Liaison of the NigeriaChina Strategic Partnership, Mr. Joseph Tegbe, said Nigeria relationship with China remains guided by the country’s long-standing foreign policy principles, including respect for sovereignty and territorial integrity, as well as adherence to established international norms.

will be both strategic and tactful and that “it will work with and support only those governments and political actors who demonstrate, through clear, pro-people plans and actionable commitments, a genuine desire to uplift the masses from poverty and oppression”. In its goodwill message to mark the New Year, signed by the NLC president Joe Ajaero, the apex Labour organization, promised to mobilise, and hold every tier of government

accountable for the benefit of Nigerians. In addition, NLC said it intends to leverage on the promises of a more faithful and meaningful engagement from the federal government as pledged by President Bola Ahmed Tinubu “secured through our relentless pressure and collective voice.” In the words of NLC: “We acknowledge this platform and will engage deeply, consciously and patriotically. “In the light of this, our

primary message to workers and indeed, the citizenry, as we step into 2026, is to be vigilant and patriotic. “On our part, our duty is crystal clear; we must organise, mobilise, and hold every tier of government accountable. We will work with and support only those governments and political actors who demonstrate, through clear, pro-people plans and actionable commitments, a genuine desire to uplift the masses from poverty and oppression,” it said.

FG Ends Paper-based Bureaucracy in State House, OSGF, OAGF, 33 MDAs Olawale Ajimotokan in Abuja

The federal government has announced the end to the culture of paper-based bureaucracy in the State House, Office of the Secretary to the Government of the Federation (OSGF), the Office of the Head of the Civil Service of the Federation, the Federal Civil Service Commission and the Office of the Accountant-General of the Federation and 33 Ministries,

Departments, Agencies (MDAs) from yesterday. The Head of Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, disclosed this yesterday when announcing the completion of the implementation of the presidential and administrative directives for the MDAs and Ministries and Extra-Ministerial Departments (MEMDs) to operate an entirely paperless system by December 30, 2025.

She said to consolidate these gains and end the culture of paper-based bureaucracy, the 38 MDAS and five MEMDS would no longer accept paper submissions through their physical registries, adding all correspondence to the MEMDs should now be sent to the official registry email addresses, which can be found on the Office of the Head of the Civil Service of the Federation website.

THURSDAY, JANUARY 1, 2026 • THISDAY

NEWS

UNVEILING OF EXCLUSIVE 500 SEATER BLEACHER BY FIRST BANK IN CALABAR...

L-R: Governor of Cross River State, Prince Bassey Edet Otu; Managing Director/CEO, First Bank Group, Mr. Olusegun Alebiosu; Ambassador of Portugal to Nigeria, Paulo Santos; and Chairman, Calabar Carnival Commission, Sir Gabe Onah, during the unveiling of the exclusive 500 seater bleacher provided by First Bank Group at the Carnival Calabar and Festival 2025 in Calabar on Monday

FIRS Turns Nigeria Revenue Service, Unveils Official Logo as New Tax Laws Take Effect Court refuses to stop Tinubu from implementing new tax law from January 1 Budget office defends integrity of tax reform acts amid alteration claims Says any potential review must follow due process

James Emejo and Alex Enumah in Abuja The Federal Inland Revenue Service (FIRS) has officially metamorphosed into the Nigeria Revenue Service (NRS), unveiling its new institutional brand identity.

The development ushers a new dawn in revenue administration in the country as the new tax laws come into force today. The NRS came into operation following the signing of its enabling law known as the Nigeria Revenue Service

Establishment Act 2025 by President Bola Tinubu in June 2025. Speaking at the unveiling of the logo yesterday in Abuja, Executive Chairman of NRS, Zacch Adedeji, explained that the logo and other brand elements for NRS represented an

important milestone in the evolution of Nigeria’s revenue administration framework. This came as a High Court of the Federal Capital Territory (FCT) turned down a request to stop the President Bola Tinubuled federal government from implementing the new tax

Aradel Completes Acquisition of 40% Equity Interest in ND Western, Raises Stake to 81.67% Peter Uzoho

Renaissance Africa Energy Company Limited, increasing its total indirect ownership in the company from 33.3 per cent to 53.3 per cent. NDW holds a 45 per cent participating interest in oil mining lease (OML) 34, a producing oil and gas asset in the Western Niger Delta and owns 50 per cent of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint

Venture. According to the statement, this acquisition is consistent with Aradel’s long-term strategy of disciplined portfolio consolidation, asset base expansion, and sustainable value creation. It further strengthens the company’s position within Nigeria’s upstream oil and gas sector, enhances operational scale, and supports improved efficiency and resilience across the company’s asset portfolio.

Says flashpoints becalmed, farmers back to fields

New Year, the Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, has expressed confidence in the country’s economic direction. The Chairman, Senate Committee on Banking, Insurance, and other Financial Institutions, said the early signs of recovery were beginning to emerge from ongoing reforms under President Bola Ahmed

Aradel Holdings Plc an indigenous integrated energy company has announced that its wholly-owned subsidiary, Aradel Energy Limited, has successfully completed the acquisition of an additional equity interest in ND Western Limited , following the fulfilment of all regulatory and contractual conditions precedent. The transaction, previously announced on 24th October 2025, involved the acquisition of a 40 per cent equity interest

in ND Western from Petrolin Trading Ltd. With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67 per cent to 81.67 per cent, and NDW has become a subsidiary of Aradel Energy Limited. Aradel announced this yesterday in a statement signed by its Chief Financial Officer, Adegbola Adesina. The statement noted that the acquisition also results in a material increase in Aradel’s aggregate shareholding in

regime scheduled to commence from January 1, 2026. Also, Director General, Budget Office of the Federation (BoF), Tanimu Yakubu, reaffirmed the integrity of the country’s newly enacted Tax Reform Acts, cautioning against what it described as governance by speculation and unverified claims following allegations of post-passage alterations. However, delivering ruling, Justice Bello Kawu declined the request and directed the federal government to proceed with the full implementation of the tax law pending the hearing and determination of the motion on notice. Though the ruling was delivered on December 23, the Certified True Copy (CTC) of the ruling signed by the Registrar of the court, Hadiza Sambo Gwandu, dated December 30, 2025, was obtained on Wednesday. The judge held that there was no concrete and strong

evidence before the court to warrant the granting of the reliefs sought. Specifically, Justice Kawu said: “I have considered the application together with the affidavit in support. I have also considered the submission of the learned counsel for the claimant/applicant together with the judicial authorities cited and I am of the strong view that the court lacks power to stop implementation of a law already signed by the appropriate authority without concrete evidence of any wrong doing. “At this preliminary stage, it will be difficult if not impossible to prove any wrong doing because at this stage, the court should be careful not to touch on the main issue. It is my considered opinion that granting injunction at this preliminary stage will be touching the subject matter in the main suit. Continued on page 12

Abiru Backs Tinubu’s Reforms, Vows Grassroots Empowerment in 2026 NIPR Lauds Uba Sani at 55, Cites Deeper recorded, deepen grassroots Aborisade in Abuja Tinubu’s administration. In his 2026 New Year empowerment and expand Peace Gains, Reforms in Kaduna Sunday As Nigerians usher in the message to constituents and opportunities for young Sunday Aborisade in Abuja

The Nigerian Institute of Public Relations (NIPR) has commended the Kaduna State governor, Senator Uba Sani, for what it described as steady, inclusive leadership anchored on democratic values, peace-building and people-focused governance.

In a congratulatory message marking the governor’s 55th birthday, NIPR President, Dr. Ike Neliaku, said Sani has consistently demonstrated commitment to pro-democracy ideals, social justice, equity and fairness. He said the principles have continued to define the administration’s policy direction.

According to Neliaku, the Sani administration’s emphasis on infrastructure renewal, human capital development, healthcare delivery, agriculture, industrial growth and citizen-centred communication underscores a clear understanding that governance must tangibly improve lives and expand opportunities for all.

Nigerians at large, Abiru called for sustained public support for the federal government’s policies. He stressed that the reforms were laying the foundation for economic stability, inclusive growth, and long-term prosperity. Abiru, who is the Chairman of the Southern Senators Forum, said the new year provided an opportunity to consolidate gains already

Nigerians, whom he described as vibrant, innovative and enterprising. “This year presents an opportunity to consolidate on the gains already recorded, deepen grassroots empowerment, and expand pathways for our youth to thrive,” Abiru said. The federal lawmaker reaffirmed his commitment to championing policies that promote economic stability and inclusive growth.

THURSDAY, JANUARY 1, 2026 • T H I S D AY

THURSDAY, JANUARY 1, 2026 • THISDAY

NEWS

UZODIMMA SIGNS THE 2026 APPROPRIATION BILL INTO LAW...

L-R: Acting Chief Judge of Imo State, Justice Ijeoma Agugua; Deputy Governor of Imo State, Lady Chinyere Ekomaru; Governor of Imo State, Hope Uzodimma; Deputy Speaker, Imo State House of Assembly, Rt. Hon. Amara Iwuanyanwu; and Clerk of the House, Barr. Chinaelo Emeghara, when Governor Uzodimma signed the 2026 Appropriation Bill into law at the Government House Annex, Eziachi Umuna, Orlu, yesterday

Tinubu: With Major Fiscal Reset in 2025, 2026 Will Bring More Robust Economic Growth

Insists Nigeria closed 2025 on strong note, recommits to reducing inflation, exceeding 4% GDP Lauds states for aligning with national tax harmonisation agenda Aims to bring 10m Nigerians into productive economic activity Insists on state policing, decentralised security system Emmanuel Addeh in Abuja

President Bola Tinubu, this morning, said with a major fiscal reset achieved in 2025, the new year would mark the beginning of a more robust phase of economic growth for Nigeria. H also pledged to consolidate the gains of the recent reforms, deepen fiscal discipline and expand inclusive growth aimed at lifting millions of Nigerians into productive economic activity. In his New Year goodwill message to the nation, the president said Nigeria achieved a major fiscal reset in 2025, recording steady macroeconomic improvements despite global headwinds, and expressed confidence that the reforms undertaken by his administration were beginning to yield measurable results for the economy and citizens. Tinubu restated his administration’s commitment to reducing inflation further in 2026, sustaining economic growth above 4 per cent and strengthening investor confidence. Besides, the president commended sub-national governments that have aligned with the federal government’s tax harmonisation agenda, assuring that this would ease the burden of multiple taxation on businesses and households. In the same vein, he outlined plans to bring at least 10 million Nigerians into productive

economic activity through the Renewed Hope Ward Development Programme, as part of efforts to stimulate grassroots economies, modernise infrastructure and ensure that the benefits of growth were more widely shared across the country. Tinubu, in a rather optimistic tone, welcomed Nigerians to 2026, expressing the hope that the new year would be a more prosperous one for the nation, citizens, and all who calledNigeria their home. Nigeria’s economic reform agenda under the current administration has been anchored on a fundamental reworking of fiscal, monetary and structural policies aimed at stabilising the economy and restoring growth after years of deep distortions. Central to this effort has been the removal of costly subsidies, exchange rate reforms to improve transparency and investor confidence, tighter fiscal discipline, and a renewed focus on revenue mobilisation through tax harmonisation. But the impact has been mixed. While the reforms have triggered inflationary pressures and higher living costs, they have also improved government finances, reduced arbitrage in the foreign exchange market, strengthened external reserves, and attracted renewed foreign investor interest. During 2025, Tinubu said his government sustained the momentum of the major

reforms, describing it as a fiscal reset and alluding go the fact that the country also recorded steady economic progress. “Despite persistent global economic headwinds, we recorded tangible and measurable gains, particularly in the economy. These achievements reaffirm our belief that the difficult but necessary reforms we embarked upon are moving us in the right direction with more concrete results on the horizon for the ordinary Nigerian,” the president said. With the dawn of 2026, the Nigerian leader explained that the focus would be on consolidating these gains and

continuing to build a resilient, sustainable, inclusive, and growth-oriented economy. “We closed 2025 on a strong note. Despite the policies to fight inflation, Nigeria recorded a robust GDP growth each quarter, with annualised growth expected to exceed 4 per cent for the year. We maintained trade surpluses and achieved greater exchange rate stability. Inflation declined steadily and reached below 15 per cent, in line with our target. “In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household. In 2025, the Nigerian

Stock Exchange outperformed its peers, posting a robust 48.12 per cent gain and consolidating its bullish run that began in the second half of 2023. “Supported by sound monetary policy management, our foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the Naira. We expect this position to strengthen further in the new year. “Foreign direct investment is also responding positively. In the third quarter of 2025, FDI rose to $720 million, up from $90 million in the preceding quarter, reflecting renewed

investor confidence in Nigeria’s economic direction, which global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s, have consistently affirmed and applauded,” he stated. A few days ago, Tinubu recalled that he presented the 2026 Appropriation Bill to the National Assembly, where he emphasised that his administration had implemented critical reforms that are laying a solid foundation for long-term stability and prosperity. With patience, fiscal discipline, and unity of purpose, he Continued on page 12

Northern Groups Slam Tinubu’s Today’s New Tax Laws’ Rollout, Say It’s Assault on Democracy Folalumi Alaran in Abuja

The Coalition of Northern Groups (CNG) has condemned President Bola Ahmed Tinubu’s insistence on implementing the newly enacted tax reform laws from today, describing the move as an assault on democracy amid unresolved allegations that the laws were materially altered after passage by the National Assembly. The CNG unequivocally condemned the posture, which it stated represented an assault on democracy

and democratic values. This, according to the group, was ironically coming from an individual who claims to be a beneficiary and product of democratic struggle. In a statement issued yesterday by its National Coordinator, Jamilu Aliyu Charanchi, the CNG expressed concern over what it described as credible discrepancies between the versions of the tax laws debated and passed by lawmakers and those eventually transmitted for gazetting. According to the group,

a review of verified facts, expert legal opinions, and submissions by lawmakers and independent observers indicated that the gazetted versions do not reflect what was approved by the National Assembly. The CNG accused the Presidency, working alongside the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, of pursuing an ulterior agenda that could worsen the hardship faced by Nigerians through what it termed the reckless enforce-

ment of flawed and legally questionable tax reforms. Charanchi said: “These discrepancies are not minor drafting errors; they are substantive alterations that strike at the heart of legislative authority, constitutional order, and the rule of law. “This desperate push, despite glaring procedural breaches and widespread public opposition, betrays a governing mindset increasingly detached from democratic accountability, constitutional restraint, and social responsibility.”

THURSDAY, JANUARY 1, 2026 • T H I S D AY

Wishing you and yours a year full of joy, warmth and good fortune.

HAPPY

From all of us at UBA

THURSDAY, JANUARY 1, 2026 • T H I S D AY

New Year, Boundless Horizons! As the calendar turns, may your journey be ﬁlled with purpose, joy, and achievements worth celebrating. Here’s to a year as extraordinary as you are.

THURSDAY, JANUARY 1, 2026 • T H I S D AY

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THURSDAY, JANUARY 1, 2026 • THISDAY

TWELVE

Stock Market Appreciates by N36.6 Trillion in 2025 Kayode Tokede The stock market section of the Nigerian Exchange Limited (NGX) appreciated by N36.6 trillion in 2025 on renewed investor confidence following the Central Bank of Nigeria’s (CBN) reforms in the foreign exchange and impressive corporate earnings by listed companies on the bourse. Specifically, the market capitalisation of listed stocks closed for trading on December 31, 2025, the last trading session of the year, at N99.376 trillion, gaining N36.6 trillion from the N62.763 trillion it closed for trading on December 31, 2024. Also, the NGX All-Share Index advanced by 52,686.63 basis points or 51.2 per cent to close 2025 at 155,613.03 basis points from the 102,926.40 basis points it opened for trading

this year. The ongoing CBN banking sector recapitlisation exercise, inflow from foreign investors and reforms by the management of the NGX contributed to the stock market rally in 2025. Also, policy reforms that aimed at energy pricing enhanced market transparency and investor confidence, resulting in increased trading volumes in the market. Also, the proposed tax reforms, such as the gradual reduction in income tax on company profits, created a more favourable environment for business operations and investments. Speaking on the stock market performance in 2025, Group Managing Director/ Chief Executive Officer, Nigerian Exchange Group

(NGX Group), Temi Popoola, stated that “the Nigerian capital market in 2025 demonstrated resilience despite domestic and global economic headwinds. This performance underscores the importance of policy consistency, purposeful reforms, and strategic collaboration in strengthening investor confidence and sustaining market growth. “During the year, efforts to advance economic reforms and improve market structures helped support a stable environment for capital formation, while our continued investment in technology played a critical role in expanding access, enhancing transparency, and improving operational efficiency across the market. “As we look ahead to 2026, NGX Group remains focused on deepening partnerships with

regulators, issuers, market operators, policymakers, and the wider financial ecosystem to sustain this momentum. We are optimistic about the opportunities ahead and committed to positioning the Nigerian capital market as a key driver of economic growth and wealth creation, while advancing NGX Group’s vision as Africa’s preferred exchange hub.” On his part, Investment Banker & Stockbroker, Mr. Tajudeen Olayinka, attributed the stock market gain in 2025 to impressive corporate earnings and policies of Tinubu led-administration, stressing that foreign investors, especially, utilised the cheap price of some fundamental stocks on the bourse. Managing Director and Chief Executive Officer, APT

Securities and Funds Limited, Kasimu Garba Kurfi, said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme revived the primary market, attracting over N2 trillion in 2024, with similar volumes in 2025. ”Domestic investors, however, remain the dominant force, accounting for 72.92 per cent, or N3 trillion. Daily market turnover has also improved sharply, averaging N25–N30 billion, compared with N5 billion in previous years,” he added. For investors, Kurfi recommended a focus on blue-chip stocks with strong fundamentals and insurance companies, particularly those that have diversified into asset

Temi Popoola management, including pension fund administration. He advised portfolio diversification to include fixed-income instruments for balance, adding that the capital market remains the best hedge against inflation and naira devaluation in the current economic climate.

TINUBU: WITH MAJOR FISCAL RESET IN 2025, 2026’LL GIVE MORE ROBUST ECONOMIC GROWTH

explained that Nigeria would emerge in 2026 stronger and better positioned for sustained growth. “As inflation and interest rates moderate, we expect increased fiscal space for productive investment in infrastructure and human capital development. We are also confronting the challenge of multiple taxation across all tiers of government. “I commend states that have

aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on our people and on basic consumption. “The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria. “By harmonising our tax system, we aim to raise revenue

sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity,” he added. On security and national stability, Tinubu admitted that the nation continues to confront security threats from criminal and terrorist elements determined to disrupt our way of life. In collaboration with inter-

national partners, including the United States, he stated that decisive actions were taken against terrorist targets in parts of the North-west on December 24, with the Armed Forces sustaining operations against terror networks and criminal strongholds across the North-west and North-east since then. In 2026, the president said that Nigeria’s security and intelligence agencies will deepen

FIRS TURNS NIGERIA REVENUE SERVICE, UNVEILS OFFICIAL LOGO AS NEW TAX LAWS TAKE EFFECT

It should be noted that once an Act is signed into law, it can only be repealed by the lawmakers or any offending section set aside by the court of law; be that as it may, exparte application cannot be used to set aside the coming into force any Act already signed into law or gazetted. “In view of the above, the implementation of the Tax Act 2025 and other related Acts will commence on January 1, 2026 and continue to be in force pending the hearing and determination of the originating motion before this court, “ Justice Kawu ruled. Meanwhile, the matter has further been adjourned to January 9, 2026 for hearing of the motion on notice. President Bola Tinubu had few days ago vowed to proceed with the implementation of the controversial Nigeria Tax Act, 2025. Responding, a public interest group, the Incorporated Trustees of African Initiative for Abuse of Public Trust, had approached the court with a motion exparte seeking an order of injunction to restrain Tinubu and the federal government from proceeding with the implementation of the new tax law, pending the hearing and determination of the motion on notice filed by the group. The group predicated their legal action on alleged

discrepancies in the new tax laws. Listed as defendants in the motion marked: FCT/ HC/M/17240/2025, are the Federal Republic of Nigeria, President of the Federal Republic of Nigeria, Attorney General of the Federation, President of the Senate, Speaker of the House of Representatives and National Assembly as defendants. The plaintiff in the motion exparte sought for an order of interim injunction pending the hearing and determination of the substantive suit to stop/ restrain the federal government, FIRS, National Assembly, or any of its agencies from implementing, executing, and/or enforcing any of the provisions of the gazetted Nigeria Tax Act, 2025, Nigeria Tax Administration Act, 2025, the Nigeria Revenue Service (Establishment) Act, 2025 or the Joint Revenue Board of Nigeria (Establishment) Act, 2025 for any reasons, pending the hearing and determination of the Motion on Notice. They also sought for another order of interim injunction pending the hearing and determination of the motion notice, restraining the President, either by himself or through any agency of the federal government created under the gazette Nigeria Tax Act, 2025 Nigeria Tax Administration Act,

2025, the Nigeria Revenue Service (Establishment) Act, 2025 or the Joint Revenue Board of Nigeria (Establishment) Act, 2025 from implementing the provisions of those Acts of the National Assembly in any states of the federation where applicable, pending the hearing and determination of the motion on notice. However, Adedeji, in a statement issued by his Special Adviser (Media), Dare Adekanmbi, said, “The unveiling of the NRS identity reflects a renewed commitment

to a more unified, efficient, and service-oriented revenue system, one that is aligned with Nigeria’s economic transformation agenda and global best practices.” He said the new identity signalled, “continuity of purpose, strengthened institutional capacity, and a forward-looking approach to supporting taxpayers and national development. “The Nigeria Revenue Service remains committed to transparency, partnership, and service excellence. Continues online

cooperation with regional and global partners to eliminate all threats to national security, stressing that he remains committed to protecting lives, property, and the territorial integrity of the country. “I continue to believe that a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards, all anchored on accountability, is critical to effectively addressing terrorism, banditry, and related security challenges,” he added. According to Tinubu, the new year marks the beginning of a more robust phase of economic growth, with tangible improvements in the lives of the people. “We will accelerate the implementation of the Renewed Hope Ward Development Programme, aiming to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the 8,809 wards across the country,” he reiterated. Through agriculture, trade, food processing, and mining, he noted that Nigeria would stimulate local economies and

expand grassroots opportunities, and would also continue to invest in modernising Nigeria’s infrastructure, including roads, power, ports, railways, airports, pipelines, healthcare, education, and agriculture to strengthen food security and improve quality of life. “All ongoing projects will continue without interruption,” he stated. While calling for unity, he pointed out that to achieve these objectives in 2026, Nigerians must all play their part, describing nation-building as a shared responsibility. “We must stand together in unity and purpose, uphold patriotism, and serve our country with honour and integrity in our respective roles. Let us resolve to be better citizens, better neighbours, and better stewards of our nation. “Fellow Nigerians, I wish you all a peaceful, productive, and prosperous New Year. May God continue to bless and protect our beloved country, keep our troops safe and destroy the enemies bent on disrupting our national peace, security and stability,” he stated.

HEIRS ENERGIES ACQUIRES MAUREL & PROM’S 20.07% STAKE IN SEPLAT ENERGY IN $500M TRANSACTION accelerate sustainable energy development and security for Nigeria and Africa. Commenting on the transaction, Chairman of Heirs Energies, Tony Elumelu, said: “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialization, and shared prosperity. “Seplat Energy has built a resilient, well-governed platform with compelling long-term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”

The landmark achievement was supported by two leading African financial institutions— Afreximbank and the Africa Finance Corporation — further demonstrating Africa’s capacity to finance its own deals. Heirs Energies Limited is Africa’s leading indigenousowned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. Having a strong focus on safe operations, innovationdriven growth, environmental responsibility, and creating shared prosperity for all stakeholders, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.

Heirs Energies operates OML 17 in the Niger Delta, producing over 50 thousand barrels of oil per day (50 kbopd) and 120 million cubic feet of gas per day (120 mmcfd), with a reserves base of over 1.5 billion barrels of oil (MMBo) and 2.5 trillion cubic feet of gas (Tcf). Since its debut in 2021, Heirs Energies has established itself as the brownfield excellence leader, having successfully addressed all the challenges that confronted onshore operations in Nigeria and has been a critical catalyst for the rejuvenation of safe and reliable onshore operations in the Niger Delta. Heirs Energies is a leading gas producer and supplier in Nigeria’s domestic gas market,

providing fuel for over 400 megawatts of electricity generation, powering millions of homes, businesses, and factories. On the other hand, Seplat Energy Plc is a Nigerian independent energy company focused on oil and gas exploration, production, and gas processing, primarily in the Niger Delta. It is listed on both the Nigerian Exchange and the London Stock Exchange and is as a key player in Nigeria’s energy transition. Seplat Energy as at December 31, 2024, had 2P reserves of 1.043 billion barrels of oil equivalent (MMBoe) and working interest production 135.6 kboepd as at 31 October 2025.

THURSDAY, JANUARY 1, 2026 • T H I S D AY

A New Year A New Direction May the year bring clarity, hope and beautiful new beginnings

Happy New Year from all of us at Keystone Bank

THURSDAY, JANUARY 1, 2026 • T H I S D AY

T H I s D Ay • THURSDaY JaNUaRY 1, 2026

Politics

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

2025: Year of Mixed Fortune for APC

2025 was a year of mixed fortune for the all Progressives Congress. From sacrificing its then National Chairman, Dr abdullahi Ganduje to the defection of no fewer than seven governors from the main opposition party, the People’s Democratic Party. Adedayo Akinwale reports.

yilwatda

Ganduje

n June, 2025, the former Governor of Kano state, Dr. Abdullahi Ganduje resigned his position as the National Chairman of the All Progressives Congress (APC) on health grounds. Checks however revealed that he was forced to resign by the presidency. His sudden resignation created palpable anxiety and shock at the national secretariat of the party. Initially, the development also created serious uncertainty and anxiety as secretariat staff were seen discussing the development. Many reasons were adduced to justify his ouster. While some argued that it was the incident of the protests during the APC North East

zonal stakeholders meeting held in Gombe State over the exclusion of the name of Vice President Kashim Shettima in the endorsement of Tinubu for the 2027 presidential election, others claimed that the alleged racketeering in the conduct of the Federal Capital Territory (FCT) Area Council primary election was the last straw that broke the camel’s back. But one of the major reasons was the adoption of African Democratic Congress (ADC) by major opposition leaders ahead of the 2027 elections. As at then, the belief in the presidency was that Ganduje had to go to

ensure the seamless defection of the national leader of the New Nigeria Peoples Party (NNPP), Senator Rabiu Kwankwaso into the ruling party. With Ganduje at the helm of affairs in APC, it would be very difficult for Kwankwaso to return to the ruling party. It was based on this premise that Ganduje’s exit was widely seen as a deliberate gesture to smoothen the path for the return of Kwankwaso to the APC, potentially neutralising northern opposition and strengthening Tinubu’s 2027 base. Surprisingly, up till this moment, Kwankwaso is yet to defect into the ruling party, though he hasn’t ruled out the possibility. Be that as it may, Ganduje’s exit made

way for the North Central who had been clamouring for the return of the position to the zone. In that regard, former Minister of Humanitarian affairs, Nentawe Yilwatda, emergef as new National Chairman, at the party’s 14th National Executive Committee (NEC) meeting. The party’s national legal adviser and deputy national secretary, were elected by consensus. The meeting also extended the tenure of zonal, State, council and ward executives until December 31, 2025. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Working with Shettima: A Personal Reflection

stanley nkwocha reflects on what has been his intellectual and official gain working directly with Vice President Kashim Shettima in 2025.

t’s 2:47am, and the study lamp is still on in the Vice President’s library at home. I know this because I have just received an email, the second for the night, with detailed comments on a subject matter that is due for consideration at the National Economic Council meeting scheduled for later that day. “Stanley, reach out to him, let them send the final copy to the secretariat first thing in the morning and that would be my final copy” the message reads. This is Senator Kashim Shettima, a man who doesn’t just work for Nigeria but wrestles with the nation’s challenges through the quiet hours while most of the nation sleeps. As the year ends, I find myself reflecting not on the policies, programmes, or public engagements that have defined 2025, but on the man I’ve had the privilege of working with. The cameras capture the Vice President mounting the podium, in the council chambers, and at state functions. But they don’t capture the 11pm phone calls to check on a staff member whose parent fell ill, or the way he insists on knowing the names of every visitor or official that comes to the office with genuine interest. There is a common joke among those of us who work closely with His Excellency. We keep wondering if his official residence has a bedroom or if the library simply swallowed it whole. I’ve arrived for an early morning meeting to find him exactly where I left him hours earlier, surrounded by books and papers scattered across the table, including a biography of some historical figure juxtaposed with policy documents.

shettima

“Stanley, have you read Nelson Mandela’s ‘Long Walk to Freedom’?” He asked me one morning, eyes still glued to his notes. “There’s a passage here about reconciliation that applies perfectly to what we’re trying to achieve in the Middle Belt. Listen to this...” And there, at dawn, before a day packed with activities such as the National Economic Council meetings and other stakeholder engagements, he read aloud about the

power of bringing adversaries to the table. His library is not just a collection of books; it’s his situation room, his meditation space, his strategic planning centre. I have seen volumes of books ranging from Adam Smith’s economic theories, Chinua Achebe’s reflections on Nigeria, agricultural journals to texts on conflict resolution. Each dog-eared page, each underlined passage, represents his relentless pursuit of knowledge that contribute to unlocking solutions to Nigeria’s complex challenges. “Knowledge

without application is just intellectual decoration,” he once told me. Working with Vice President Shettima means recalibrating your understanding of work-life balance, fully aware that for him, work and family is the life. I have watched him review MSME grant applications at midnight, personally reading through cases to ensure deserving businesses weren’t overlooked. I’ve seen him demand revision after revision of policy documents not out of perfectionism for its own sake but because “these policies affect real people, Stanley; real mothers trying to feed their children, and real farmers staking their livelihoods on our decisions.” During the rollout of MSME Clinics across the states in 2025, he insisted on receiving daily reports, not sanitised summaries, but real data. When we discovered that women-owned businesses in rural areas were struggling with documentation requirements, he convened a virtual meeting to redesign the process. “If our policies don’t work for the woman selling tomatoes in Benue or the young tailor in Borno, then our policies don’t work,” he said vehemently. By morning, we had a simplified application process, and within weeks, the number of women beneficiaries increased significantly. -Nkwocha, Media Assistant to the Vice President, writes from Abuja. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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2026: FROM REFORMS TO RECOVERY

OPEYEMI BAMIDELE pledges that the Senate will not shirk its responsibilities of guiding and offering necessary advice to other arms of government

See page 21

2026: HOPES FOR A QUIETER YEAR Trump will be the fulcrum of a transactional world. Yes, again! writes RAJENDRA ANEJA

See page 21

EDITORIAL

ANOTHER TIME TO RENEW HOPE

See page 22

As 2026 gets underway, citizens should step up to own their country through active, unrelenting participation, writes MONDAY PHILIPS EKPE

PASSIONATE PLEA TO FELLOW NIGERIANS

A new year has just begun. With the fast-changing world choosing its own courses at a dizzying pace, it’s hard to know whether people still make annual resolutions. To stop procrastinating. To end smoking. To read at least one novel a week. To overcome their known or secret shortcomings. To face their future squarely. To register tangible achievements. To be better husbands, wives, children, workers or neighbours. And, ultimately, to be well improved versions of themselves. It never really matters if the makers of such idealistic pledges know instinctively that the decisions would likely be breached as early as few hours into January. They are religiously made all the same, sometimes to God privately. This appeal to my compatriots is a bit different both in scope and character: asking us all to love and be seen to love our country some more, against the seemingly justifiable proofs to embrace the contrary. Even as a natural optimist, I’ve come close to exasperation a couple of times on this subject. Some other Nigerians who have devoted much of their adult lives to the service of their country in several areas have also either succumbed or come close to doing so. But simply condemning those who appear to hate their fatherland because of its ever-increasing problems would be simplistic. For, the challenges confronting our faith in Nigeria and wanting to go the extra mile for it to survive and thrive are mushrooming fast and getting complicated. A country that boasts of revered founding fathers and mothers is now treated like an orphan, unfortunately. The political leaders are often fingered as culprits - for good measure - but the rest of the citizenry can’t easily claim absolution here. What’s our attitude towards government property and jobs? Usually that of nobody’s, sadly. This impersonal, noncommittal approach contributes immensely to the underperformance of the public sector in comparison to its private counterpart. We’ve arrived at a juncture where the former has surrendered its moral leadership to the latter. Nothing demonstrates this embarrassing irony than the remarkable successes of Dangote Refinery within its short period of establishment. For long, the memories of most Nigerians about the Nigerian National Petroleum Company (NNPCL), a publicly owned institution, are those of a bogus, overpampered and ill-managed entity which presides over epileptic services. In the current festivities, for instance, Dangote is

largely responsible for the availability and relatively low prices of petrol nationwide. That’s after wrestling with antagonistic trade unions and regulatory bodies. As it is with energy, so with other aspects of national life. The citizens are left to their own devices; made to fend for themselves with little or no succour from the government(s). From electricity to education, health, transportation, subsistence, jobs, general welfare and security, Nigerians are compelled to actualise their needs individually or jointly in most cases. Telling people who feel government’s impact less and less to wait still and swallow incredible official explanations and excuses would be to further offend their already bruised sensibilities. The implementation of the tax reforms of this administration exemplifies the factors which can go wrong in the government’s relationship with the longsuffering populace. Only last month, a member of the House of Representatives, Alhaji Abdussamad Ibrahim Dasuki, drew the attention of his colleagues to the discrepancies between the tax law that was passed by the National Assembly and what was eventually signed and gazetted by the executive arm of government. Since then, heated debates have sprung up across the federation on the issue. Yet, without resolving the conflict for the common good, President Bola Tinubu has reportedly declared that nothing would stop its execution as earlier planned. Holding the people’s frustrations, doubts, fears and reservations in contempt! This attempt to soften the minds of Nigerians towards the nation isn’t in denial of the excesses of its leaders at the various tiers of government. I’ve not been hired to deodorise their many anti-people moves; and I won’t do it. I can say for free though, as I constantly do, that there is hardly any new predicament on the block. Most of the crises bedevilling Nigeria today have

been kicked down the road by previous administrations, strengthening the blame game of successive governments. Some of the troubles have become impregnable in the process. Others now fit that popular Nigerian saying, “jungle don mature”. Like what obtains in wildlife, our serially mismanaged hot spots have conspired to railroad this once globally respected country into the company of less fancied nations. The other day, President Donald Trump added Nigeria to the list of countries that had their visa applications to the United States suspended. Some commentators have dismissed Trump as erratic and discriminating. Others even think that going to America is no big deal. But the exercise has sobered me a bit. Time was when this African giant could hold its own at any international forum with respect. Falling from that height of dignity to its present profile mustn’t be trivialised. The political class hasn’t helped matters. Since the commencement of the current Republic over 26 years ago, most of its members have carried on as if in total disdain for their role as the prime guardians of our democracy. Their bellies have become their gods – insatiable ones at that. For many of them, 2027 means their election or re-election bids, which implies that proper governance, if anything of that description truly existed before now, will be off the table in a couple of weeks. That would further jeopardise any hope of attending to legitimate needs. Loving our country in the midst of these mostly self-inflicted injuries can indeed be Herculean but we don’t have reasonable alternatives. I have seized different chances to remind fellow Nigerians that majority of us will live, die and be buried here, the sustained pressure to relocate abroad notwithstanding. This sobering fact should make every Nigerian dig in and exercise the rights and privileges of citizenship. Let’s get ready to hold politicians accountable. Let’s mentally separate them from the country which many of them are only programmed to rape. We seriously have no other location to call home. Naturalising elsewhere can’t be the same thing. Nigeria wasn’t always this crooked. Some living Nigerians can recall great things about it which can be restored through concerted, participatory efforts. Let’s vow that 2026 will be the turning point in our socio-political engineering which in turn would galvanise the economy. We must never succumb to the twin forces of lethargy and despair. Dr Ekpe is a member of THISDAY Editorial Board

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Trump will be the fulcrum of a transactional world. Yes, again! writes RAJENDRA ANEJA

2026: HOPES FOR A QUIETER YEAR The world hopes for a quiet 2026, even if it is dreary. A year without wars and tariff ambushes, when the morning headlines are not traumatic. However, hopes can be mirages. Principally, most countries will follow every word and action of Trump. He provides the cues. Trump will be the fulcrum of a transactional world. Hopefully Trump’s peace plan will be signed by Ukraine and Russia. If not entirely, then partially. It meets two central principles. First, Ukraine will not join NATO. Second, Ukraine can join the European Union. Agreement on these two points should suffice for a ceasefire. The balance 26 points can be thrashed subsequently. It is time, people in Ukraine live normal lives again, without the fear of bombs or drones raining on them every night. About a million soldiers and civilians have already died in this bloody war, in both countries. The world may continue in a state of war. Infantry wars have been replaced by terrorism and drone warfare. Social media and AI are the new weapons of combat. Fears of a nuclear confrontation grow, as Putin tests underwater drones with nuclear warheads and America and China resume nuclear tests. The Israel-Gaza cease-fire will prevail, perhaps substantially on paper. On the ground, mayhem may continue. Minor infractions from either side, will trigger skirmishes. Yes, women will suffer. Children will starve and remain illiterate. More generations will swear vengeance. This has been the story of Palestine for over one hundred years. Heartrending. Trump can focus on dispersing peace and readying the new East-wing ballroom, since undocumented immigrants no longer see America as a haven. They seek livelihoods, not handcuffs. Underlying fears permeate many democracies, with undeclared emergencies. European nations will struggle to align their global agendas in 2026. Britain and France are struggling with recurrent leadership changes. Germany is spending more on weapons, than ever in the past. Europe is short of money and arms, to make its voice credible. Right-wing populism will continue to rise. And oppose immigration. Yet, USA and Europe are top destinations, for the ambitious. China will strengthen its wings. President Xi will play the benevolent godfather of Asia and Africa. He will build emotional bridges with Japan, Korea, etc. He will also build railways and roads across Africa. The Middle East will unitedly “salaam” Trump with style and pomp. The Arabs are astute businessmen. Qatar will shine. India-Pakistan will continue to scowl. Pakistan will dance to the eulogies of Trump. Sudan and Myanmar will continue to simmer. Aung Suu will stay incarcerated. In a febrile world, Africa should focus on its own growth. Nigeria is well-placed with its own oil refining capabilities. Angola with its oil and diamond resources

should invest in infrastructure. Africa’s poor need rapid uplifting. Spreading education at the school level is critical. The tariff-tumults will continue. President Trump will use this cane to chastise noncompliant nations. Global growth will plateau below three percent, due to geo-political uncertainties. Growth in Western countries will hover around 1.5 percent, China and India could glow around five-to-six percent. In a world engrossed with gun and tariff battles, who will focus on growth or poverty-reduction? The common person is becoming nihilistic, condemned to bleakness. Inflation of six to 12 percent in costs of essentials like flour and vegetables, will agonise common people. Expenditure on holidays and electronics may decline. Saving money may be difficult. Affordability of basics like food, housing, education, and transport is crucial. Politicians do not understand this. Mamdani did. Now, he is the monarch of New York. The gap between the affluent and the poor is widening. According to Oxfam, one percent of the world’s rich, control 45 percent of the global wealth. And 44 percent of the population lives below the poverty line of USD 6.85 per day. Poverty in Asia and Africa is dehumanising. Oil prices will hover around USD 55-58 per barrel. They may even drop lower, due to economic despondency. Wars and tariffs triggered cataclysm dances in gold prices. Everyone wanted to buy it, from nations to taxi-drivers. Gold prices spiralled to over USD 3,300 per ounce from USD 2,388 in 2024. It could touch over USD 5,000 per ounce in 2026, due to economic uncertainties. It will be an attractive buy, in an ambiguous world. Silver is also buoyant. The stock-market continues to allure. However, watch companies that may stumble due to discontinuities in technology. Or tariffs. Real estate will continue to be a wise investment. The world population is augmenting; but the land is finite. Globalisation, with unrestricted movement of talent and goods across countries, is ebbing. Unemployment will become a pivotal issue. Many governments survive by disbursing cash and free food to their people. It is time for free medicines also. Aneja was the Managing Director of Unilever Tanzania. He is an alumnus of Harvard Business School, and the author of books entitled, “Rural Marketing across Countries.” A Management Consultant, he writes from Mumbai, India

OPEYEMI BAMIDELE pledges that the Senate will not shirk its responsibilities of guiding and offering necessary advice to other arms of government

2026: FROM REFORMS TO RECOVERY We have come to the end of 2025,

a truly defining year marked with farreaching reforms that criss-crossed nearly all strategic sectors of our economy. The Senate, indeed the National Assembly, has collaborated with other arms of government to effect the reforms without any prejudice to our constitutionally guaranteed independence. In the 2025 financial year, we have achieved quite a lot in enacting a new tax regime; ending the culture of multiple budgets; working with key stakeholders to review the 1999 Constitution and in recalibrating our electoral regime to be more credible and transparent. The enactment of the 2025 Tax Reforms Act, for instance, is perhaps the most consequential of all these reforms. Its core intention is to introduce a cohesive tax regime that will, from January 1, 2026, end the era of multiple taxation and ensure improved life for the citizenry, especially for those at the lowest rung of our national economy. The Act, duly enacted after multi-levelled consultation with stakeholders across business, political and social interests, does not represent the gloomy picture the opposition forces are painting. Rather, it is a progressively structured response that, we believe, will address fiscal and liquidity crises that have for long undermined our development aspirations. Like the case of petroleum subsidy removal, Nigerians will soon begin to reap the fruits of the tax reforms. I, therefore, appeal to all my compatriots to buy into the realistic and foreseeable projections of the new tax obligations, which will become effective tomorrow. Rather than take a mere cursory look at its details, Nigerians across all socio-economic strata have the duty to study the Tax Reforms Act and be adequately informed about what they intend to achieve, more importantly as Nigeria aspires to catch up with the rest of the world in modern tax administration. For us at the National Assembly, we again reaffirm our commitment to nation-building and unalloyed support for the people-centred initiatives driven by the "Renewed Hope Agenda" of President Bola Ahmed Tinubu, GCFR. Away from the rubber stamp narrative, in 2026 and beyond, the Senate will not shirk its responsibilities of guiding and offering necessary advice to other arms of government in line with the principle of checks and balances, and in the overall interest of our nation and its people. The new tax law was not initiated to inflict economic hardship on ordinary people as being misconstrued in the public space. Rather, it aims to bring more resources to the footsteps of the government at various levels for the delivery of more strategic infrastructure that will translate to economic prosperity for generations to come. Nigerians will recall how it took the current National Assembly several months of painstaking scrutiny and late night

meetings before the eventual passage of the proposed tax reform bills. The import of this is that our dual objectives of ensuring that the interest of ordinary Nigerians are adequately protected and that Nigeria is not lagging behind in modern tax administration were ultimately achieved at the end of the exercise. Rather than falling hook, line and sinker for the deliberate misinformation being peddled about the new reforms by the opposition, I urge every Nigerian to get adequately informed about their ambitious goals and advantages for our collective good, aiming to take more from the rich to cater for the poor in our midst. We are also committed to delivering a people-centric constitution that will deliver a progressive governance structure to Nigerians. The review of the 1999 Constitution is already at an advanced stage. We are poised to transmit all the proposals to the State Houses of Assembly for consideration. Before the first half of 2026 ends, we should be able to conclude the constitution review that will devolve more functional powers to the sub-national governments. However, this depends on the decisions of the state legislatures to approve all the proposals. Also, the Electoral Act (Amendment) Bill, 2025 is the stage of completion. The proposal was painstakingly designed to enhance the credibility and transparency of the country’s electoral process. When it becomes effective, the proposed legislation will address the prevailing realities that characterise our political environment. As soon as we resume plenary in January 2026, we will fast track the process and transmit it to the President and Commanderin-Chief of the Armed Forces, His Excellency Bola Ahmed Tinubu, GCFR for presidential assent. Likewise, the process of the National Security Summit is at its peak. We have concluded public hearings in the country’s six geo-political zones. Stakeholders, at different levels, have made significant recommendations. In the first quarter of 2026, the Summit will be held in Abuja as part of oversight obligations to deepen national security by ensuring internal stability across the federation. Senator Bamidele, CON, Leader of the 10th Senate, Federal Republic of Nigeria.

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THURSDAY JANUARY 1, 2025

EDITORIAL

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

ANOTHER TIME TO RENEW HOPE

Nigerians should embrace a new spirit that places emphasis on unity of purpose

s Nigerians enter a new year today, there are no signs that the economic landscape in 2026 will be remarkably different despite the much-touted economic reforms programme of the current administration. Besides, with the implementation of the controversial tax laws starting today, the prevalent public disillusionment over the way the issue has been handled will not easily go away. It is therefore increasingly clear that Nigerians are being ushered into a new year with anxieties. The prevalent public disillusionment occasioned by severe economic hardship is being capped by the fact that the authorities are fast losing the dominance of the machinery of violence to non-state actors. To compound the problems, across the country today, many basic services such as education, health and infrastructure are decrepit or in short supply. With all the investment in power, the national grid still collapses at will. In the last one week, the generating ability was reportedly reduced to zero, at least for some hours. Even though inflation has dropped, food inflation remains high and has continued to erode the purchasing power and living standards of the people. There is still a wall of difference between the current prices of food items, and 2023 when the subsidy on fuel was removed. The minimum wage of N70,000 is hardly making any difference. This becomes more agonising because the unemployment rate is not only frightening high but breeds the risk of social, economic, and security turbulence. More that 80 million youths are roaming the streets without jobs. While much money is now going to the state coffers after the deregulation of fuel, many of them can hardly carry out their routine duties, not to talk of creating jobs. It is little wonder why social tension in the country has reached a boiling point, taking several forms, including violent agitations.

We do not need any polls to decipher the mood of the public: many Nigerians were dissatisfied with the past year largely because of persistent insecurity. Across the country, there were indiscriminate killings and abductions, including mass abductions of schoolchildren. There were also farmer-herder clashes, leading among other things, to the United States designating Nigeria as a ‘country of particular concern’. An evidently worried President Bola Tinubu recently eased out the Minister of Defence, shortly after shuffling the service chiefs. These were pointers to poor performance. Indeed, the security situation is affecting every sphere of life. There is severe economic hardship across the country. Despite the numerous trips abroad, the perception of Nigeria as an investment destination continues to diminish in the face of pervasive insecurity. Many farmers across the nation cannot go to their farms because of the fear of being kidnapped, and with dire consequences for agricultural production, and the prices of goods. Unfortunately, the prevalent public disillusionment could be worsened by politicians and other stakeholders because of intense activities ahead of the 2027 general election. Political parties must put their houses in shape in order to count in the next election. But many expect the president to liaise with the National Assembly and others to ensure the police force is decentralised. There are too many ungoverned spaces across the country, hence an urgent need to restore some sense of security in a starkly divided country. The coming on stream of the Forest guards will be helpful, while the cooperation between Nigeria and the United States is oiled to ensure there is no resting place for bandits, terrorists, insurgents and criminals. Security is vital to the economy. As we begin 2026, we urge Nigerians to embrace a new spirit that places emphasis on unity of purpose as we seek to advance our country for peace and prosperity. We wish all our readers Happy New Year!

The cooperation between Nigeria and the United States should be oiled to ensure there is no resting place for bandits, terrorists, insurgents and criminals. Security is vital to the economy T H I S D AY

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

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LETTERS

NEW YEAR: ANY HOPE FOR NIGERIANS?

The outgone year, 2025, was no doubt a very challenging and troubling one for Nigeria and Nigerians. It was a year that tested the resilience of citizens across all strata, as hopes were repeatedly confronted by harsh realities. From security concerns to economic pressures, many Nigerians trudged through the year with heavy hearts, praying for relief and renewal. Insecurity remained one of the most disturbing issues of 2025. Across several parts of the country, communities grappled with banditry, kidnapping, insurgency and other violent crimes that claimed innocent lives and disrupted livelihoods. The persistent shedding of innocent blood cast a dark shadow over national unity and development, leaving citizens yearning for lasting peace. The economy also struggled under severe strain. Inflation, unemployment, and the rising cost of living took a toll on households and businesses alike. Many Nigerians found

it increasingly difficult to meet basic needs, while small and medium-scale enterprises battled to stay afloat in a harsh economic climate marked by dwindling purchasing power. Politically, the year was equally turbulent. Several political parties were engulfed in internal crises, factional disputes and leadership tussles that weakened their structures and distracted them from offering credible alternatives to governance. These crises further deepened public distrust in the political class and democratic institutions. As Nigerians welcome the new year 2026 with open arms, there is a collective yearning for renewed hope. Citizens desire a year that brings economic prosperity, job creation, and a noticeable improvement in security across the country. The expectation is that 2026 will mark a turning point where policies begin to translate into tangible benefits for the masses. There is also a strong call for stability within the polity,

particularly among opposition parties. Nigerians want to see political actors put their houses in order, build strong internal democracy and present issue-based alternatives that can strengthen democratic competition and accountability. No doubt, 2026 will be filled with intense political alignments and realignments ahead of the 2027 general elections. However, there is widespread concern that governance must not be sacrificed on the altar of politics. Leaders at all levels must remember that their primary responsibility remains the welfare of the people. The President and state governors are therefore expected to ensure the smooth running of the country even as political mobilisation gathers momentum. Tochukwu Jimo Obi, Obosi Anambra State

T H I S D AY • ThURSDAY, JANUARY 1, 2026

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S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 TO DATE

0.24%

N1,475 / 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT WED., DECEmbER 31, 2025

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

Expert: Forex, Crypto, Online Investment Scams Will Double in 2026

Emma Okonji Cybersecurity expert, Mr. Remi Afon has predicted that Nigeria’s cybercrime landscape will evolve further rather than recede as the nation steps into 2026. According to him, organised cybercrime groups are likely to become more structured in 2026, adopting defined operational roles and leveraging Artificial Intelligence (AI) to scale

fraud at speed. Afon, who is the Founder, GoLegit Africa, told THISDAY that AI-assisted social engineering would mature, enabling threat actors to generate highly convincing communications in English, Pidgin, and local dialects, adding that these context-aware attacks will exploit cultural familiarity, trust networks, and economic pressure, making deception harder

to detect and easier to automate. “In 2026, deception itself will be automated, powered by AI, structured networks, and digital finance abuse. The year 2025 marked a defining phase in Nigeria’s cybercrime evolution. What was once dominated by informal online fraud continued its transition into organised, technologyenabled criminal activity operating across borders. This shift mirrored a

broader continental trend, with cybercrime now accounting for a significant share of reported crime across Africa. Highprofile, intelligence-led arrests involving the Economic and Financial Crimes Commission (EFCC) and INTERPOL demonstrated both the scale of Nigerian-linked cybercrime networks and the growing effectiveness of international cooperation. These operations sent a

clear signal, as geography is no longer a shield for digital crime,” Afon said. He explained that one of the most significant accelerators of such threat heading into 2026 would be the continued rise of forex, crypto, and online investment scams. “Throughout 2025, cloned trading platforms, fake broker dashboards, social media influencersdriven ‘telegram groups’, and staged withdrawals

proliferated, blurring the line between legitimate fintech innovation and criminal enterprise. In 2026, these schemes will become even more sophisticate, supported by AI-generated testimonials, customer service personas, and long-con engagement models that keep victims invested emotionally and financially over time, “Afon said.

Nnaemeka Ani, the publication themed: ‘The State of African Innovation’ calls for a decisive shift from “building for hype” towards “building for legacy” systems that endure, scale, and serve real societal needs. According to the MGX research report, Africa’s next phase of growth will not be driven by imitation, but by authorship.

“Africa must move from being a consumer of global technology to becoming its author. Let’s stop building for international admiration and start creating the future on our own terms. Africa will rise by code, by courage, and by us,” Ani said. According to the MGX research report, real value in Africa’s tech

ecosystem lies not in flashy applications, but in persistent, intentional solutions, particularly those that digitize public services, strengthen institutions, and bridge the rural-urban divide. Drawing from applied research and on-ground experience, the publication emphasises that technology without governance, policy alignment, and

infrastructure depth cannot scale sustainably. The report identifies three defining pillars that will determine Africa’s innovation leaders by 2026, such as intentionally Solving Africa’s own challenges, from healthcare access and food systems to security and public service delivery, rather than copying external models; Strengthening

localised innovation ecosystems in cities such as Enugu, Lagos, Kigali, and others, where contextaware solutions outperform imported frameworks, and leveraging state-led digital infrastructure as a foundation for privatesector growth, innovation scaling, and national competitiveness.

The story continues online on www.thisdaylive.com

MGX Research Nigeria Outlines New Era of African Innovation Emma Okonji

As the global technology landscape accelerates toward 2026, MGX Research Nigeria, a research and innovation institution focused on Africa’s digital future, has released a defining brief on the state of the continent’s innovation ecosystem. Authored by the Founder of MGX Research Nigeria,

The story continues online on www.thisdaylive.com

M a r k e t d ata a s at W e d n e s d ay, d e C e M b e r 3 1 , 2 0 2 5 BONDS DESCRIPTION Price Yield Change Updated Time (%) ^16.2884 170.01 December 99.42 16.77 31, 2025 mAR-2027 ^19.94 20103.46 16.60 0.00 December mAR-2027 31, 2025 ^13.98 2394.94 16.85 0.00 December FEb-2028 31, 2025 ^21.00 20December 107.42 16.80 0.00 mAR-2028 31, 2025 ^14.55 26105.58 16.98 0.00 December APR-2029 31, 2025

BILLS MATURITY NTb 8-Jan26 NTb 5-Feb26 NTb 5-mar26 NTb 9-Apr26 NTb 7-may26

Discount Yield 15.32

15.37

15.55

15.79

15.70

16.14

15.77

16.47

15.90

16.83

CPS

Change (%) Updated Time

MATURITY

-0.01 December 31, 2025 -0.01 December 31, 2025 December -0.01 31, 2025 -0.01 December 31, 2025 -0.01 December 31, 2025

EULL CP IX 18-JAN-26 SKIS CP XV 23-JAN-26 VAAG CP XII 2-FEb-26 DANC CP XXI 11-mAR-26 NEVE CP II 3-APR-26

Discount Yield

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

19.21

19.39

December -0.01 31, 2025

19.81

20.06

-0.01 December 31, 2025

20.74

21.13

-0.01 December 31, 2025

18.18

18.84

19.28

20.28

0.02 December 31, 2025 0.06 December 31, 2025

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS JAN 13m – 27 2027 NGUS FEb 14m – 24 2027 NGUS mAR 15m – 31 2027 NGUS APR 16m – 28 2027 NGUS mAY 17m – 26 2027

Updated Time

December 31, 2025 December 31, 2025 December 31, 2025 December 31, 2025 December 31, 2025

ThURSDay, JaNUaRy 1, 2026 • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

2025: Solewant Group Promoting Nigerian Content Development, Technological Innovations on Global Map

Group Chief Executive Officer of Solewant Group, Mr Solomon Ewanehi, at the NUPRC’s Roadshow held in London Olusola Adeoye

ith the strong presence of Solewant Group at international oil, gas and maritime sectors’ events in 2025 where it showcased technological innovations, the company has continued to boost the efforts of the federal government in promoting Nigerian content development on the global map. In 2025, the company participated in several international events in Houston, Texas, United States; New York, also in the United States; Algiers in Algeria; and Dorchester in London, United Kingdom, among others. Established 25 years ago, Solewant Group has delivered high-impact projects to international oil companies (IOCs) and engineering, procurement and construction (EPC) companies. The company has successfully delivered world-class projects on schedule, including steel pipe manufacturing, anti-corrosion and mechanical protection for steel pipes, pipeline field joint protection, and pipe fabrication operations. This strong track record has established the company as a leading African supplier of coated steel pipes to the oil and gas industry. Its state-of-the-art industrial park is Africa’s largest pipe coating facility, spanning 156,000 square meters in Alode, Eleme Local Government Area (LGA) of Rivers State. With the commissioning of an ultra-modern Pipe Bend Multi-Layer Pipe Coating Plant by the company in July 2025, the company’s state-of-the-art industrial park and Africa’s largest-pipe coating facility, became a game changer in the federal government’s efforts to make Nigeria the hub of steel pipe fabrication and coating in Africa. The company proudly represented Nigeria at the Offshore Technology Conference (OTC) in Houston, Texas, from May 5 to 8, 2025, where it showcased innovative oil and gas products and solutions. OTC is a consortium of 15 non-profit organizations dedicated to supporting the global energy sector. On May 6, the company’s Group Executive Director, Mr. Matthew Aganren, delivered a presentation on behalf of Group Chief Executive Officer Mr. Solomon Ewanehi at the company’s exhibition booth in the Nigerian pavilion. The presentation was attended by senior government and industry officials, including the Minister of State for Petroleum (Oil), the Minister of State for Petroleum (Gas), members of the National Assembly, the Group Chief Executive Officer of NNPC Limited, managing directors from international oil companies and Nigerian independent operators, as well

A cross-section of participants at NUPRC’S Roadhow

as representatives from the Petroleum Technology Association of Nigeria (PETAN) and the Oil and Gas Trainers Association of Nigeria (OGTAN). Speaking during the presentation, Ewanehi had noted that the company, which excelled in manufacturing and supply of steel pipes, metals, fabrication and specialty coating solutions for 25years, was entering the next phase of its extensive development through a series of investments and expansions. The company also attracted global attention as a leading exhibitor at the fourth edition of the Intra-African Trade Fair (IATF 2025) in Algiers, Algeria. The event, organized by Afreximbank and held at the SAFEX Building from September 4 to 10, 2025, brought together Africa’s most innovative businesses across multiple sectors. Nigeria’s leading pipe production, coating and energy sector solutions provider showcased cutting-edge technologies and its robust portfolio of subsidiaries at the event. The fair attracted 35,000 participants and 2,000 exhibitors, and secured a record-breaking $48.2 billion in trade and investment deals. A major highlight of the company’s participation was the high-profile visits to its exhibition booth. Some of the prominent dignitaries who stopped by included former Nigerian President, Chief Olusegun Obasanjo; Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Permanent Secretary, Ministry of Industry, Trade and Investment, Ambassador Nura Abba Rimi. These distinguished guests engaged the company’s team with questions on the Group’s value addition to Africa’s energy and infrastructure sectors, particularly in steel pipe manufacturing, advanced pipeline coating technologies, protective paints, fabrication services, and Human Capital Development. The company’s Group Managing Director/CEO and delegation leader, Mr. Ewanehi, provided compelling insights into how the company became a trusted champion in Nigerian Content Development, bridging gaps in technology, capacity and industrial excellence. “Our commitment is not only to deliver worldclass coated pipes, fabrication, and specialty protective solutions but also to deepen indigenous capacity through training and technology transfer. We see Solewant as a vehicle for Africa’s self-reliance in energy and infrastructure,”

Ewanehi was quoted as saying. In September 2025, the company joined senior government officials and other global players in the oil and gas, as well as maritime industries to dissect Gulf of Guinea’s (GoG) energy, maritime and investment prospects at a high-level roundtable on the sidelines of the 80th Session of UN General Assembly (UNGA 80) in New York, United States. With over $800 billion in energy and infrastructure opportunities, the GoG occupies a strategic position in the global economic architecture, as an emerging critical gateway for investment, trade, and security cooperation. The top-notch roundtable themed: “Unlocking Energy, Oil & Gas, Minerals and Maritime Opportunities in the Gulf of Guinea: A Roadmap for Peace and Security,” was convened by The New Diplomat, a non-partisan policy think tank based in Abuja, in collaboration with the Luanda-based Gulf of Guinea Commission (GGC) to deepen international engagement on peace and security. In his goodwill message at the high-level roundtable, Solewant Group’s founder, Ewanehi told the international audience that “Solewant Group speaks to the role indigenous companies can play. For Over 25 years we have invested in people, plants and products, including commissioning what is widely reported as West Africa’s largest multi-layer pipe-coating facility, to strengthen local content, job creation, and supply-chain resilience for energy and infrastructure projects. These investments validate that when security and financing frameworks are aligned, African firms are fully capable of delivering high-quality industrial capacity that meets global standards,” he added. According to him, the company is actively translating regional interests into concrete partnerships, showcasing advanced technologies, and engaging governments and investors at major global fora. Following the outcome of the roundtable, Ewanehi was honoured in Abuja with an award last December for his outstanding contributions to peace and sustainable development in the Gulf of Guinea. The company also showed a strong presence when global oil and gas industry players, including the Managing Director of TotalEnergies Nigeria, Mattieu Bouyer; Managing Director of ExxonMobil Nigeria, Jagir Baxi; and the then Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission

(NUPRC), Gbenga Komolafe, gathered in Dorchester, London, for NUPRC’s Roadshow held from November 11 to 12, 2025. Other industry leaders at the event include: Chief Executive Officer (CEO) of Seplat, Mr. Roger Brown; Chairman of AA Holdings, Austin Avuru; Chairman of Governing Board, Organisation of Petroleum Exporting Countries (OPEC), Mr. Ademola Adeyemi-Bero, and some federal lawmakers. At the event, Ewanehi had listed transparency, innovation, collaboration, and emerging technologies as key drivers necessary for the growth of Africa’s energy sector. Tagged: “Project 1MMBOPD’ Additional Production Investment Forum”, the two-day event was aimed at accelerating Nigeria’s goal of producing an additional 1 million barrels of crude oil per day (bpd) through innovation and collaboration. Speaking on the outcome of the event, Ewanehi had told ARISE Television that international investors at the event sought and were given assurances by federal lawmakers and regulators on an adequate robust legal framework to give investors comfort and protect investments. Despite these international engagements where it exhibited emerging technologies and promoted Nigerian content development, the company was also a leading participant in local conferences and exhibitions, including the Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025, held at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters in Yenagoa, Bayelsa State. The company also hosted its 9th annual energy summit from November 27 - 28, which attracted policymakers, energy executives, financiers, development partners, and researchers from across Africa and the rest of the world, at the Solewant Industrial Park, Alode, Eleme, Rivers State. Themed: “Emerging Technologies and the Future of Sustainable Energy Development in Africa,” the 2025 summit focused on how transformative technologies such as Artificial Intelligence (AI), robotics, automation, data analytics, and other digital innovations are redefining the frontiers of Africa’s energy transition. Looking ahead to 2026, Ewanehi outlined the company’s strategic direction, emphasizing its role as an industrial powerhouse positioned to serve Africa’s energy sector. “We are gearing up in terms of capacity generation, local content development and infrastructure divestment in oil, gas, energy and water sector resources. The story continues online on www.thisdaylive.com

T H I S D AY • THURSDaY JaNUaRY 1, 2026

BusinessSpecial

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

Halilu: InnovateNaija Will Convert Nigerian Ideas to Industries, Jobs

InnovateNaija Challenge was launched by National Agency for Science and Engineering Infrastructure(NASENI) to discover and empower the country’s brightest minds by showcasing their most creative inventions and products. In this conversation, Executive Vice Chairman/Chief Executive Officer, NASENI, Khalil Suleiman Halilu, spoke about the competition and plans by the agency to ensure Nigeria’s industrial renewal among other issues. Sunday Ehigiator presents the Excerpts: Your leadership at NASENI is defined by the Creation, Collaboration, and Commercialisation(3Cs). Looking at the innovators from this challenge, what specific commercialised products do you envision Nigeria exporting at scale within the next five years? Will Agrotech dominate, or are you seeing something new? s you know, my responsibility is to lead NASENI’s transformation into Nigeria’s foremost technology transfer and industrialisation agency, one that does not just generate ideas, but converts innovation into factories, jobs, and exportable products. Our work is guided by the 3Cs, Creation, Collaboration, and Commercialisation, fully aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda. Within the next five years, Nigeria will be exporting value-added agroprocessing equipment, renewable energy systems, electric mobility components, smart irrigation technologies, and digital manufacturing solutions developed locally. Agrotech is indeed strong, particularly mechanisation, irrigation, and post-harvest technologies, but we are also seeing exciting innovations in energy storage, electric mobility, industrial automation, and climatesmart manufacturing. InnovateNaija is deliberately sector-agnostic because our goal is not to crown one industry, but to unlock multiple export-ready sectors where Nigeria has both demand and competitive advantage.

“research on the shelf” to real-world products. What practical support does an InnovateNaija winner receive immediately? Immediately, winners gain hands-on access to production tools, engineering teams, and manufacturing partners. They are not observers; they become operators within our ecosystem. Whether it is CNC machining, testing, or pilot production, the emphasis is on building, refining, and scaling. Research only matters when it enters the market, and that is the culture we are institutionalising at NASENI.

The InnovateNaija application window has closed. Can you share early insights on the response, and what it says about grassroots innovation in Nigeria? The response was overwhelming, thousands of applications from across Nigeria, with a noticeable improvement in technical depth, problem-solving clarity, and commercial thinking. What this tells me is that Nigerian innovators are ready. What has been missing is a structured pathway from idea to industry. InnovateNaija is designed to fill that gap. Halilu

President Tinubu’s Renewed Hope Agenda focuses strongly on reducing import dependency. How is InnovateNaija structured to move beyond a competition into a core pillar of Nigeria’s industrial strategy? InnovateNaija is not a pitch

InnovateNaija is designed to plug directly into our existing commercial projects. For example, breakthrough irrigation innovations can be fasttracked into our solar pump programme, while new agri-processing or manufacturing solutions can be integrated into NASENI’s production and value-chain initiatives.

competition, it is an industrial pipeline. From the outset, it is structured to feed directly into NASENI’s innovation, engineering, and manufacturing ecosystem. Every finalist is mapped into a commercialisation pathway that includes prototyping, testing, pilot manufacturing, and market entry. By integrating InnovateNaija with NASENI’s institutes, innovation hubs, and manufacturing partners, we are turning local ideas into domestic substitutes for imported products. This is how InnovateNaija becomes a structural pillar of Nigeria’s industrial renewal under the Renewed Hope Agenda. The N250 million prize fund is impressive, but moving from prototype to mass production is the real challenge. How will NASENI practically support the InnovateNaija winner from day one? From day one, the winner enters the NASENI Innovation Hub ecosystem. This includes immediate access to CNC machines, fabrication equipment, testing and validation facilities, pilot production lines, and experienced engineers. Beyond infrastructure, NASENI provides product refinement support, standards certification,

intellectual property guidance, market linkage, and integration with existing production lines. Our role is to remove the bottlenecks that traditionally stall Nigerian innovations at the prototype stage. NASENI has secured landmark partnerships, from the 100-hectare Abuja Technology Village to collaborations with international partners across multiple projects. What is your value proposition to investors looking to co-invest in an InnovateNaija finalist, and how does NASENI structure these partnerships to de-risk such investments?” Our pitch is simple: NASENI absorbs the early-stage risk. Investors are not backing raw ideas; they are co-investing in validated technologies supported by government infrastructure, technical expertise, and guaranteed pathways to scale.Through assets like the Abuja Technology Village and our manufacturing partnerships, we provide shared infrastructure, regulatory support, and market access. This significantly lowers capital risk and shortens the time to profitability for investors.

Which sectors are showing the most promise so far, particularly in relation to the Renewed Hope Agenda? We are seeing strong, scalable solutions in agriculture, renewable energy, electric mobility, digital manufacturing, and climate-focused technologies. These sectors align directly with national priorities, food security, energy transition, job creation, and industrial self-sufficiency.

NASENI is already commercialising products like solar irrigation pumps, EV motorcycles, and CNG conversion kits. How will InnovateNaija ideas integrate with these projects? InnovateNaija is designed to plug directly into our existing commercial projects. For example, breakthrough irrigation innovations can be fast-tracked into our solar pump programme, while new agri-processing or manufacturing solutions can be integrated into NASENI’s production and value-chain initiatives. Rather than reinventing the wheel, we are building an ecosystem where new ideas strengthen existing production, accelerate scale, and deepen local value chains.At NASENI, innovation does not end with applause, it begins with production. InnovateNaija is our commitment to You have consistently ensuring that Nigerian ideas become emphasised moving NASENI from Nigerian industries.

T H I S D AY • THuRsDAY JAnuARY 1, 2026

business/MOneYGuiDe

GTCO Raises N10bn via Private Placement after CBN, SEC Approval Guaranty Trust Holding Company Plc (“GTCO” or the “Company”), has announced that it has obtained the approvals of both the Central Bank of Nigeria (“CBN”) and the Securities and Exchange Commission (SEC) to undertake a private placement of its ordinary shares, subject to the fulfilment of the applicable conditions precedent and regulatory requirements. The Financial Holding Company had earlier on August 29, 2025 announced that its banking subsidiary (Guaranty Trust Bank Limited) had satisfied and surpassed the new CBN minimum capital requirement for commercial banks with international authorisation, having already increased

its capital to N504,037,107,058.45. This private placement in the sum of N10 Billion is therefore only being raised pursuant to Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies (FHCs) in Nigeria regarding the computation of the capital of FHCs. According to a statement signed by the company’s Group General Counsel/ Company Secretary, Erhi Obebeduo, the proposed private placement is being undertaken pursuant to the company’s shareholders’ resolution passed at its Annual General Meeting (AGM) held on May 9, 2024, which authorised the Board to establish a capital raising programme of

up to $750,000,000.00 or its equivalent through the issuance of ordinary shares, preference shares, convertible and/or nonconvertible bonds or any other instruments, whether by way of a public offering, private placement, rights issue, book building process or any other method or combination of methods in such tranches, and at such dates and upon terms and conditions as may be determined by the Board. The statement further read that, “As a result of this, the Board has authorised the Company to embark on a private placement to raise N10 billion, by the allotment of 125,000,000 (one hundred and twenty-five million) ordinary shares of 50 Kobo each (the “Private Placement”).”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MiLLiOn nAiRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- Cbn bills Held by Money Holding sectors

9,291.49

AltBank SupportsTeachers as Nigeria Confronts Deepening Classroom Crisis

Money supply (M2)

119,028,285.58

Quasi Money

79,681,419.97

Korede Demola-Adeniyi, Executive Director (South) at The Alternative Bank. “We see this platform as critical infrastructure. Equipping a teacher with the right tools and support is the most direct path to long-term national productivity.” The conference aligns with The Alternative Bank’s HEART Strategy, a long-term investment thesis focused on Health, Education, Agriculture, Renewable Energy, and Technology. Under this framework, the Bank continues to deploy capital and partnerships into scalable solutions targeting Nigeria’s most underserved sectors. Beyond its involvement with BAF, AltBank recently colaunched the Women

-- narrow Money (M1)

39,346,865.60

Kayode Tokede

In a direct response to the declining access to trained educators across Nigeria, The Alternative Bank (AltBank) has partnered with the Busayo Ademuyiwa Foundation (BAF) to host the 2025 BAF Teachers’ Conference in Lagos. The concentrated, one-day intervention was designed to strengthen the capacity of frontline educators. The event delivered hands-on training to hundreds of primary and secondary school teachers drawn from underserved communities across the country. “The people who hold up Nigeria’s education system don’t need applause, they need backup,” said

in Tech Scholarship in partnership with Utiva, a nationwide initiative providing digital and business skills to women entrepreneurs in rural and peri-urban communities. The program is already showing early traction in reducing the gender gap in tech participation, while equipping recipients with tools to scale income-generating ventures. “The challenge in Nigeria’s education sector is execution, not awareness,” said Demola-Adeniyi. “This partnership is part of a broader operational strategy to find the pressure points, inject support where it changes outcomes, and back it with measurable value.

Insurance Firm Sympathises with Fire Victims, Assures Customers Ebere Nwoji

The management of Great Nigeria Insurance Plc (GNI), has sympathised with victims of fire incident that occurred in the Great Nigeria Insurance House at no 47/57 Martins Street Lagos Island during Christmas break. The company also said it wished to inform and reassure its customers, stakeholders and the general public that the fire incident has not affected its operations in any way. GNI management in a statement made available to THISDAY stated: “GNI does not maintain any office in the burnt building, nor does

it conduct any operations whatsoever therein”. Explaining its position in the burnt building, the GNI management stated: “We wish to state for the records that Great Nigeria Insurance Plc. (GNI) was granted a long lease of bare land at No. 47/57, Martins Street, Lagos Island by the Shitta-Bey Family and this lease is due to expire on the 31st of December, 2036. GNI erected a 25-storey building on the said land for strategic investment purposes (the property). It is noteworthy that GNI has since been in court with the Shitta-Bey family on the property because the family instituted three separate suits against GNI at both the Lagos

State High Court and the Federal High Court. All the suits were decided in favour of GNI. Thereafter, the family filed separate appeals in the Lagos Judicial Division of the Court of Appeal,” it stated. GNI said in the interim, the substantive suit challenging the family for trespass is still pending at the Lagos Judicial Division of the High Court of Lagos State. “Consequently, GNI has for over five years been denied physical possession of the property. Our company neither has any dealings whatsoever with the management nor with any of the tenants occupying the property for these years,” it stated.

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

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

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

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

OPEC DAILY BASKET PRICE As AT 24TH nOVeMbeR , 2025

The price of OPEC basket of twelve crudes stood at $63.14 a barrel on Monday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY • THURSDAY JANUARY 1, 2026

mARKET NEWS

NGX Admits Chapel Hill Denham’s N163.6bn NREIT

Kayode Tokede

The Nigerian Exchange Limited (NGX), yesterday admitted Chapel Hill Denham Management listing by introduction of 1.59 billion units of its Nigeria Real Estate Investment Trust (NREIT) on the Main Board of the Exchange. The listing of the N163.6 billion NREIT is a major milestone in Nigeria’s property-

backed securities market. The listing represents one of the largest REIT admissions on the Exchange and marks a significant step in deepening real estate investment opportunities for institutional and retail investors. The units were listed at N103 per unit, giving the fund an implied market value of N163.6 billion under the N400 billion NREIT Issuance Programme. According to the NGX

P R I C E S MAIN BOARD

F O R DEALS

bulletin signed by the Head of Issuer Regulation, Godstime Iwenekhai, the listed fund carries the trading symbol NREIT, with ISIN NGCHDNREIT00, and will be traded under the name Nigeria Real Estate Investment Trust Fund. The listing by introduction means that the units were not offered to the public at the time of listing but were admitted based on existing investor holdings and regulatory approvals under the N400 billion

S E C U R I T I E S MARKET PRICE

qUANTITy TRADED

issuance programme. The admission of the Chapel Hill Denham NREIT is expected to expand the depth of Nigeria’s alternative investment landscape at a time of rising appetite for income-generating assets. The NREIT, structured to provide stable returns through diversified income from real estate assets, offers investors an opportunity to gain exposure to the property market. This is made possible without the

T R A D E D

vALUE TRADED ( N )

MAIN BOARD

A S

O F

high capital requirements and illiquidity associated with direct real estate ownership. The NGX confirmed that the listing covers Series 1 to 4 of the programme, with a total of 1,588,617,222 units registered at a nominal value of N100 each but listed at a premium of N103. Market analysts note that the listing could boost liquidity in the REITs segment of the market, which has seen renewed regulatory support

and increased investor interest in 2025. The listing comes at a time when investors are seeking inflation-protective assets, particularly in real estate—one of the strongest-performing alternative asset classes in 2025. Market watchers say the move reinforces the NGX’s push to attract more real estate-backed instruments and strengthen capital formation for property development across the country.

D E C E M B E R / 3 1 / 2 5 DEALS

MARKET PRICE

qUANTITy TRADED

vALUE TRADED ( N)

FEaturEs

THURSday, JaNUaRy 1, 2026 • T H I S D AY

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

Expectations for 2026 as a Year That Must Deliver

As 2026 approaches, Nigeria enters a period of heightened expectation shaped by several years of economic adjustment, policy reform and social strain. Public attention is increasingly fixed on outcomes rather than intentions, with citizens measuring progress through everyday indicators such as prices, security and access to basic services. Chiemelie Ezeobi reports

y the time 2026 arrives, Nigerians will be done with explanations. The language of reform, sacrifice and long term gains will sound thin against the daily realities of food prices, transport costs and shrinking household incomes. If 2025 was a year of adjustment and endurance, 2026 is expected to be the year of proof that the pain was not in vain, and that governance can translate policy into tangible improvement in people’s lives. Across the country, expectations are sharpening. From Abuja to the markets of Ibadan and the farms of Benue, the question is no longer what the government intends to do, but what has changed. The economy waiting for the turn At the centre of these expectations sits the economy. The reforms of the past few years fuel subsidy removal, exchange rate unification and tax restructuring were sold as necessary shocks to stabilise a broken system. By 2026, Nigerians will expect those shocks to have produced some relief. Inflation, particularly food inflation, will be the most unforgiving measure. Families do not debate macroeconomic indicators at the dinner table. They measure progress by how much rice, garri or bread they can afford. A slowing of price increases, even if modest, would be interpreted as a sign that the economy is finally turning a corner. Employment will matter just as much. Beyond headline job creation figures, people will look for evidence of decent work in construction, agriculture, manufacturing and the digital economy. Small and medium sized businesses, battered by energy costs and weak consumer spending, will expect easier access to credit and a more predictable operating environment. By 2026, patience with reform without relief will be wearing thin. Power energy and the question of light Few issues symbolise Nigeria’s governance challenges as clearly as electricity. With recent reforms allowing states greater involvement in power generation and distribution, 2026 is expected to be a test year. The promise is simple. Decentralisation should mean more power, not more policy statements. Nigerians will watch closely to see whether states with initiative and resources can deliver additional megawatts and more

see a future that feels possible at home, it would mark a quiet but profound shift. Africa’s broader mood firmer footing Beyond Nigeria, 2026 is expected to reflect a more assertive African posture. Governments across the continent are increasingly vocal about debt terms, trade imbalances and climate financing that rarely reaches the communities it is meant to serve. There will likely be deeper regional cooperation on security, particularly in response to instability in parts of the Sahel and the Horn of Africa. At the same time, African states will continue pushing for a stronger voice in global institutions, arguing that representation must match demographic and economic realities. The expectation is not dominance, but dignity, a seat at the table that carries weight. Tinubu

reliable supply. Even incremental improvements longer hours of light and reduced dependence on generators would be noticed immediately. Failure, however, would deepen scepticism about whether structural reforms alone can overcome entrenched inefficiencies. Security fewer speeches clearer results Security expectations in 2026 will be intensely practical. Safer roads. Fewer mass abductions. Reduced attacks on farming communities. These are the benchmarks ordinary citizens will use. There is growing awareness that insecurity is not uniform across the country, and progress will increasingly be judged locally. Communities will ask whether collaboration between federal forces, state backed initiatives and intelligence services is producing results on the ground. By 2026, announcements of operations will matter less than outcomes. A sense of normalcy farmers returning to fields and traders travelling without fear will be the real indicator of success. Politics without the ballot Although there will be no general elections in 2026, politics will be quietly intense. It is a year of positioning. Governors will be thinking about legacies

and successors. Political blocs will begin aligning for 2027, even if publicly denied. Policy decisions will increasingly be viewed through a political lens, especially as parties test narratives and assess public mood. For the presidency, 2026 represents a critical midpoint. It is far enough from the last election for excuses to wear thin, and close enough to the next for performance to shape political survival. Every major policy outcome will feed into the emerging judgment of the administration. Youth migration and the future question Perhaps the most decisive expectations for 2026 will come from young Nigerians. For many, the idea of opportunity at home remains fragile. The desire to migrate, often described as japa, has not been driven by adventure alone, but by frustration. In 2026, young people will expect more than speeches about innovation and entrepreneurship. They will look for visible investments in skills training, technology hubs, creative industries and digital infrastructure. Access to affordable data, funding for start ups and clear pathways from education to employment will be key signals of seriousness. If young Nigerians begin to

A tense global environment Globally, 2026 is unlikely to be calm. Economic growth is expected to remain uneven, with tighter financial conditions affecting developing economies most sharply. Borrowing will remain expensive, forcing governments to make difficult choices. Geopolitical tensions will continue to reshape alliances, with middle powers playing increasingly important roles. Technology, particularly artificial intelligence, will move from abstract debate to everyday regulation, affecting schools, workplaces and media ecosystems. Climate pressures will intensify. Extreme weather events are expected to force governments from long term pledges to immediate preparedness, testing state capacity across continents. A year that must answer questions In many ways, 2026 is not expected to be spectacular. What people want is something more modest and more powerful. Stability. Gradual improvement. Signs that the system, however imperfect, is beginning to respond to their needs. After years of economic shocks, political tension and global uncertainty, expectations have narrowed and hardened. Nigerians, like many around the world, want evidence that governance can still improve lives. By the end of 2026, the question will not be whether leaders tried hard enough. It will be whether ordinary people felt a difference.

T H I S D AY • Thursday, January 1, 2026

GaminGWeek Edited by nseobonG okon-ekonG | gamingweek1117@gmail.com | Tel: 08114495324

2026 Video Game Trends That Matter TR

UTH

& R E ASO

Video games are heading into 2026 with clear shifts in how they are made, how they are played, and who gets to participate. From artificial intelligence in development to mobile‑first design, cloud access, esports, and creator‑led platforms, these are the trends that will define gaming globally and in African markets, writes Iyke Bede

AI becomes part of video development workflows rtificial intelligence is now common in game development tools. A Google Cloud survey found that 87 per cent of game developers use AI agents to automate repetitive tasks and focus on creative work. Most respondents also expect AI to reduce long‑term development costs even as questions about data ownership remain. This means studios of all sizes are adopting AI to help generate content, optimise processes, and speed up production without increasing headcount, a growing trend many do not view favourably in terms of job creation. Regardless, AI’s presence in development is now a practical trend, not a distant prediction.

Mobile gaming drives player growth in Africa Africa’s gaming market reached an estimated $1.8 billion in revenue in 2024, with mobile gaming accounting for nearly 90 per cent of that total. The number of gamers in Africa grew to about 349 million in 2024, up by 32 million from the previous year. This shows that smartphones remain the primary gaming device across the continent. As mobile access improves and data becomes cheaper, more people are joining the gaming community without needing a console or high‑end PC. Africa’s market is growing faster than global average Research shows that Africa’s games market is projected to reach around $13.86 billion by 2025 and grow at a compound annual rate of about 8.5 per cent through 2030. The number of gamers in Africa is expected to hit 426.7 million by 2030, with player penetration increasing steadily. This growth rate compares favourably to many established gaming markets and proves Africa is not only participating in the global gaming space but expanding quickly. Cloud gaming expands device access Cloud gaming — where players stream games to their devices rather than download them — is becoming more mainstream for publishers and players alike. According to a Boston Consulting Group report, about 60 per cent of surveyed players said they had tried cloud gaming, and of those, 80 per cent reported a positive experience.

The trend matters because it makes Esports and competitive play high‑quality titles playable on a wider continue to grow range of devices. For markets with Across the world, competitive fewer high‑end consoles and gaming gaming remains a core part of the PCs, streaming services can remove industry’s social fabric, with millions a major barrier to entry. tuning in to watch professional leagues and tournaments. While precise 2026 Players creating content estimates have not been published, data strengthen communities from multiple reports show investments Games that let players create and audience engagement are rising and share content are seeing rising year by year. engagement. A global survey shows In Africa, mobile esports are that platforms like Roblox and Fortnite emerging as a major competitive are preparing to pay out more than segment, attracting players, sponsors, $1.5 billion to creators in 2025, and and local events that mirror global around 40 percent of gamers said trends. they consume more user‑generated content than a year ago. Monetisation models shifting This trend means players are not away from one‑time purchase just consumers. They are co‑creators, Game monetisation in 2025 and into building worlds, mods, and experiences 2026 continues to shift away from that keep communities active and one‑time purchases toward models invested. that support long‑term engagement. Hybrid approaches — combining Cross‑platform play is standard free‑to‑play access with in‑game practice purchases, subscriptions, and seasonal More titles now support multiplayer passes — have become a staple for across devices, letting players on many studios seeking stable revenue phones, consoles, and PCs join the streams. same games. As studios adopt this This approach helps developers feature regularly in new releases, it fund ongoing content while giving means fewer boundaries between players flexible entry points and platforms and more inclusive play. ongoing updates to keep games fresh. For African players, this expands opportunities. Gamers on mobile Local content and storytelling can compete with global audiences gain traction without needing separate hardware Players increasingly respond to ecosystems. gaming experiences that reflect their culture and realities. This has led to a

rise in titles grounded in local stories, folklore, and artistic design. While precise numbers on this trend are still emerging, industry experts agree that culturally relevant games are gaining more attention and investment. In Africa, several markets, including Nigeria, South Africa, and Egypt, are becoming known for locally influenced game design, creative communities, and growing development talent. Advertising and in‑game Commerce expand revenue streams In Africa, in‑game advertising shows strong growth potential. Projections suggest that revenue from ads embedded within games could reach nearly $280 million in 2025 and approach $406 million by 2030. This aligns with broader industry shifts toward monetising gameplay experiences without forcing high upfront costs.

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

T H I S D AY • THURSday JaNUaRy 1, 2026

ProPerty & environment

Businesses Key to Biodiversity Protection, Stakeholders Say

Bennett Oghifo Stakeholders in Nigeria’s conservation and sustainability space have underscored the critical role of the private sector in halting biodiversity loss, stressing that protecting nature is no longer a “feel-good” obligation but an economic and business imperative. This position was highlighted at a stakeholder engagement convened by the Nigerian Conservation Foundation (NCF) in collaboration with Natural Eco Capital and Business for Nature, as part of efforts to domesticate and implement the Kunming–Montreal Global Biodiversity Framework adopted by 196 countries under the United Nations Convention on Biological Diversity in 2022. Speaking at the event,

Director-General of the Nigerian Conservation Foundation, Dr. Joseph Onoja, said the global framework requires each country to develop national instruments to safeguard biodiversity, known as the National Biodiversity Strategies and Action Plans (NBSAPs). Nigeria, he noted, has updated and validated its own plan, but effective implementation demands a “whole-of-society and wholeof-government” approach. According to Onoja, businesses are both contributors to biodiversity loss and a critical part of the solution. “This gathering is to look at how the business sector will be involved in biodiversity protection. We are losing biodiversity, and businesses depend on nature for raw materials and ecosystem services. For sustainability and

profitability, operations must become nature-positive,” he said. He stressed that beyond policy discussions, the focus must be on implementation. “Policies are easy to discuss, but implementation is a different ball game. If biodiversity is not protected, businesses are also at risk. That reality alone should incentivise the private sector to act,” he added. On his part, Chief Executive Officer of Natural Eco Capital, Eugene Itua, explained that the Global Biodiversity Framework explicitly calls on businesses, especially large corporates, to assess, disclose and report their impacts and dependencies on nature. He said Nigeria’s updated NBSAP provides the roadmap for business engagement. To support this, Itua disclosed

that Natural Eco Capital, working with NCF and supported by Business for Nature, has established a Business Advisory

Group for Biodiversity to help companies align their operations with national and global biodiversity goals. He added

that the initiative complements the Federal Government’s Biodiversity Finance Initiative recently launched in Abuja.

L-R: Mrs. Rabi Isma; Mrs. Ebisan Akinsanya; Hon. Justice R.I.B. Adebiyi; Chairman, National Executive Council, Nigerian Conservation Foundation (NCF), Mrs. Onari Duke; and Architect Ayoola Onajide; at the back: L-R: Mr. Adekoyejo Edu; Mr. Desmond Majekodunmi; and Director General, NCF, Dr. Joseph Onoja, at the 36th AGM of NCF held at the Lekki Conservation Centre... recently

FG, Chad Discuss Implementation of Abidjan-Lagos Highway Project Bennett Oghifo The Minister of Works, David Umahi, recently held talks with a high-level delegation from the Republic of Chad, led by the Chadian Minister of Infrastructure and Road Maintenance, Mr. Amir Idriss Kourda, on the implementation of the Abidjan-Lagos highway project. The discussion, specifically,

was on the Fluvio Lacustrine Connectivity Programme and a proposal for direct transportation link between Nigeria and Chad. The minister assured his Chadian counterpart of Nigeria’s commitment to “activating partnerships and fostering collaborations to address common challenges and to aggregate, harness and project the shared strength of the Sahel region towards realising the

full economic potential of the continent of Africa. “I am happy that you mentioned that your President is in touch with our President on this project. The two countries have a broad and brotherly relationship. We welcome you with open arms. The co-operation between the two countries has been there, especially on security and economy, and Chad is a very important partner to Nigeria.

We assure you that the project is key to the development of Nigeria and Chad. As a Ministry of Works, we are capable and ready to do our part as soon as we are given a nod by Mr. President.” He urged the delegation to make official communication on the nitty gritty of collaborations needed from the Nigerian government.” The leader of the Chadian delegation and Chadian minister

of infrastructure said they were in the country to discuss the establishment of a direct transportation link between Chad and Nigeria, which majorly is the construction of a bridge over the Lake Chad, a total of 65km. He highlighted the potential of the transportation corridor which, he said, would enhance regional connectivity and accessibility, economic development, social cohesion, and political and

diplomatic cooperation. He requested for a meeting between the two countries at technical and administrative levels in order to finetune modalities and mechanisms for realising the programme. He said the initiative could include port, transport, and fluvial infrastructure projects, as well as joint actions for the preservation of the Lake Chad ecosystem.

FG’s Digital Reform Deepens as Ministry Goes Live on 1-Gov Cloud Bennett Oghifo The Federal Ministry of Works formally joined the league of Ministries, extra-ministerial Departments and Agencies (MDAs) on the 1-GOV Enterprise Content Management (ECM) platform, marking a major milestone in its transition from analogue operations to a secure, efficient, and fully digital work processes and flows. The Go-Live event took place

on Tuesday, 23 December, 2025 at the Ministry’s Headquarters, bringing together the Head of the Civil Service of the Federation (HCSF), Transformative Permanent Secretaries, senior government officials and Civil Servants, and key stakeholders committed to advancing the digitalisation of the Public Service. Speaking at the event, the Minister of Works, David Umahi, who was represented

by the Minister of State, Bello Muhammad Goronyo, Esq., expressed delight at the presence of the HCSF for the launch. He commended her dedication to institutional reforms and digital transformation across the Service, describing the Ministry’s transition as a thing of joy and pride. He pledged the leadership’s full support for the initiative and its successful implementation. The HCSF, Mrs. Didi Esther

Walson-Jack, hailed the launch as a demonstration of the Ministry’s readiness to align service delivery with modern, secure, and efficient digital best practices. She highlighted the Ministry’s critical role in national development, through the planning, construction, reconstruction, expansion, rehabilitation, and maintenance of the Federal road network that connects communities, enables commerce, and facilitates economic growth. “Strengthening

its information management systems,” she noted, “is both timely and strategic.” Mrs. Walson-Jack commended the Ministry’s leadership for their foresight and shared commitment to a seamless transition. She also praised Directors and staff for their openness to change, saying that “in a sector where records, approvals, and institutional memory are fundamental, the deployment of the ECM solution reinforces professionalism,

continuity, and accountability.” She further emphasised that the migration extends beyond technology, representing a fundamental improvement in how work is organised, decisions are documented, and collaboration is enabled. Furthermore, with its integration into the 1-Gov. Cloud ecosystem, the Ministry is now better positioned to operate seamlessly and securely, in alignment with broader Public Service standards.

Lagos to Partner NIOB on Physical Planning Law Enforcement Bennett Oghifo The Lagos State Government has indicated its readiness to partner with the Nigerian Institute of Building (NIOB), Lagos State Chapter, to strengthen physical planning processes and ensure orderly, safe, and sustainable development across the State. The Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide

disclosed this while receiving members of the Institute during a courtesy visit to the Ministry on Monday. Dr. Olumide explained that the State Government’s focus was on proactive physical planning measures, stressing that effective development control begins from strict adherence to approved layouts, building plans, and professional standards at the earliest stages of construction.

He maintained that compliance with planning regulations remained the most effective safeguard against structural failure, while linking failures in development outcomes to compromised planning standards, substandard designs, excessive client interference, political pressures, and human errors. According to the Commissioner, developments carried out without due regard to

physical planning approvals and supervision by qualified professionals posed serious risks to lives, property, and the physical environment. Dr. Olumide further stated that any construction site operating without the engagement of registered and competent building professionals should not be allowed to proceed, adding that the Ministry would continue to insist on professionalism and planning

discipline across the State. The Permanent Secretary, Office of Physical Planning, Engr. Oluwole Sotire, emphasising the importance of sustained public awareness on planning laws and regulations, said that the government was open to deeper collaboration with professional bodies to strengthen compliance and enforcement as early compliance with physical planning requirements would

significantly reduce avoidable losses and wastage of resources. The General Manager, Lagos State Informal Space Management Authority (LASISMA), Tpl. Daisi Oso highlighted the need for developers to embrace proper planning, land-use conformity, and strict adherence to approvals to significantly reduce development failures and promote a more orderly physical environment.

ing unregulated activities in key corridors, gateways, and transitional zones across the State. The Commissioner disclosed that plans had been concluded to embark on extensive sensitisation and engagement of internal and external stakeholders, including government agencies, market associations, transport unions, community leaders, and other interest groups, as such

engagement would be critical to ensuring cooperation, compliance, and shared ownership of the initiative. He emphasised that the intervention was not merely regulatory but strategic, as it sought to promote orderliness at the frontiers of the State, enhance urban aesthetics, improve functionality of public spaces, and protect the integrity of the physical environment.

Lagos to Step Up Control of Informal Spaces Bennett Oghifo Lagos State Government has stated that it is set to take decisive steps to regulate and administer informal spaces across the state, in line with its physical planning mandate. The Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide made this known recently while outlining the

Ministry’s strategic direction for the coming year. He explained that the Ministry would invoke the powers conferred on it by the Lagos State Urban and Regional Planning and Development Law, 2019 (as amended) to ensure orderly use of land and sustainable urban growth. His words: “the Law vests the Ministry with the statutory responsibility for physical plan-

ning, land-use management, development coordination, and the regulation of spatial activities across the State, mandates that clearly encompass the administration of informal spaces”. He stated that informal spaces were public open areas not designated for permanent use but increasingly occupied without planning approval, adding that the uncontrolled

use of road setbacks, walkways, under-bridge areas, drainage corridors, and undeveloped government land posed risks to safety, mobility, and the environment. According to him, the planned assumption of full administrative control over informal spaces was aimed at strengthening land-use planning, achieving integrated urban development, and curb-

THISDAY • THURSDAY, JANUARY 1, 2026

NEWS

ANNUAL THANKSGIVING SERVICE CELEBRATION...

L-R: Wife of the Founding General Overseer, Christ Healing Evangelical Church, Lady Evangelist Beatrice Bamidele; wife of the current General Overseer, Pastor Mrs. Cecelia Wunmi Ogunfowokan; and her husband, Pastor Samuel Babatunde Ogunfowokan, during the annual thanksgiving service celebration of the church at its national headquarters in Ketu, Lagos… recently

Report: World’s Richest Billionaires Added Record $2.2 Trillion Wealth in 2025 Emmanuel Addeh in Abuja

The world’s 500 richest people added a record $2.2 trillion to their collective fortunes this year, as booming markets in everything from equities to cryptocurrencies to precious metals sent the value of their holdings soaring, according to

the Bloomberg Billionaires Index. The gains, which brought their combined net worth to $11.9 trillion, were turbocharged by Donald Trump’s election victory in late 2024, and were only briefly derailed by tariff fears in April, when plunging markets caused the biggest one-day wealth wipeout since the pandemic.

Big Tech led the charge as artificial-intelligence euphoria continued to bolster US mega-cap stocks. About a quarter of all the gains recorded by Bloomberg’s wealth index came from just eight individuals, including Oracle Corp. Chairman Larry Ellison, Tesla Inc. Chief Executive Officer Elon Musk, Alphabet

Inc. co-founder Larry Page and Amazon.com Inc. founder Jeff Bezos. Notably, though, that represented a smaller contribution than last year, when the same eight billionaires made up 43 per cent of the total gains, the report by Bloomberg News stated. When the year began, Musk

Senate Leader: After Sweeping Reforms, Nigeria Poised for Economic Recovery In 2026 Assures Nigerians tax reforms will ease hardship

Sunday Aborisade in Abuja

Leader of the Senate, Senator Opeyemi Bamidele, on Wednesday declared that Nigeria is now firmly positioned for full economic recovery following what he described as far-reaching reforms undertaken by the National Assembly in collaboration with other arms of government. In a New Year message to Nigerians, Bamidele said 2025 marked a defining moment for the country with landmark interventions spanning fiscal policy, constitutional review, electoral reforms, national security and budgetary discipline.

He identified the enactment of the 2025 Tax Reforms Act as the most consequential of the reforms, stressing that the new law would end multiple taxation and usher in a modern, cohesive tax regime from January 1, 2026. According to him, the legislation was designed to improve the welfare of ordinary Nigerians, particularly those at the lower rungs of the economy, contrary to claims by opposition figures that it would worsen hardship. “The Tax Reforms Act does not represent the gloomy picture being painted in some quarters. It is a progressive response to Nigeria’s long-standing fiscal

and liquidity challenges, and Nigerians will soon begin to reap its benefits, just as with the removal of petroleum subsidy,” Bamidele said. He urged Nigerians to study the provisions of the new tax law rather than rely on misinformation, noting that its underlying principle was to expand government revenue in a way that takes more from the rich to support the poor and fund strategic infrastructure. The Senate Leader said the reforms reflected the National Assembly’s dual commitment to protecting citizens’ interests while ensuring Nigeria keeps pace with global best practices

in governance and economic management. Bamidele reaffirmed the Senate’s support for President Bola Ahmed Tinubu’s Renewed Hope Agenda, while insisting the legislature would continue to exercise its constitutional role of oversight and checks and balances beyond 2025. “We are not a rubber-stamp parliament. In 2026 and beyond, the Senate will continue to guide and advise other arms of government in the overall interest of the Nigerian people,” he said.

was indisputably the boldface name on the list of the world’s richest. He became a major political player for the first time after donating nearly $300 million to Trump’s reelection campaign, and spent much of early 2025 in Washington, DC, spearheading the administration’s cost-cutting efforts. However, it was Ellison, not Musk, who ended up stealing the show. Fueled by a massive run-up in Oracle shares as the longtime cloud infrastructure company ramped up spending on AI, he briefly overtook Musk as the world’s richest man in September. Although Oracle shares have since slumped about 40 per cent from their peak, Ellison ended the year making headlines for his involvement in the bid by Paramount Skydance Corp. — run by his son David Ellison — to acquire Warner Bros. Discovery Inc. Gains weren’t confined to the United States. While the S&P 500 Index posted an annual increase of 17 per cent through December 30, it was outperformed by a 22 per cent gain in the UK’s FTSE 100 and a 29 per cent rise in Hong Kong’s Hang Seng.

Other asset classes did even better: Precious metals recorded one of their best years in decades amid a rush to safe havens, while copper and rare earths also emerged as commodities of key geopolitical importance, with major holders including Australian mining magnate Gina Rinehart and Chile’s Luksic family adding billions to their fortunes. Before a recent selloff, crypto was also on track to beat equity returns for the year: Bitcoin surged to all-time highs following Trump’s election win and extended those gains as the administration approved a series of crypto-friendly policies. However, a massive slide starting in October saw it wipe out all of those gains and then some, battering the wealth of billionaires including the Winklevoss twins, Changpeng Zhao and Michael Saylor. Some of the biggest winners included Larry Ellison, with a net worth of $249.8 billion and yearly gain of $57.7 billion; Elon Musk worth $622.7 billion and yearly gain of $190.3 billion as well as Gina Reinhart, who had a net worth of $37.7 billion and gain of $12.6 billion, among others.

Industry Women Conference Tackles Nigerians Can’t Start 2026 with More Challenges Facing Women in Nigeria

Taxes, ADC Chief, Kachikwu, Tells Tinubu Sunday Aborisade in Abuja A former presidential candidate of the African Democratic Congress (ADC), Mr. Dumebi Kachikwu, has cautioned President Bola Tinubu against introducing additional taxes in the new year. He warned that further fiscal pressure on Nigerians could deepen hardship and spark a crisis of unprecedented

proportions. In his New Year message, Kachikwu said the country could not begin 2026 with more taxes at a time when millions of citizens were grappling with the harsh effects of economic reforms, rising insecurity and declining living standards. He noted that while the beginning of a new year is traditionally a period of hope, renewal and planning,

many Nigerians were finding it increasingly difficult to hold on to hope due to worsening economic conditions. He said, “Life has become more precarious in our nation as the toll of economic reforms and insecurity increases.” The situation, he claimed, was worsened by what he described as a political leadership that appeared insensitive to the plight of ordinary citizens.

Mary Nnah

Founder and CEO of Ladybird Advertising, Mrs. Bunmi Oke, has urged women to prioritise self-care and empowerment, stressing that it’s essential for achieving success in their personal and professional lives. Oke, a keynote speaker at the 3rd edition of the Industry Women Conference/Changemaker Award held recently in Lagos, said this while delivering a speech themed: “Inspire, Achieve, Aspire.” “You don’t have to agree

with everybody. You don’t have to follow the bandwagon,” Oke advised, emphasising the importance of confidence and authenticity. She shared her own experiences and offered practical tips for women to achieve their goals, including taking calculated risks, having confidence in oneself, having a plan, being resilient, learning from failures, being oneself, and empowering others. Oke also stressed the importance of self-care, saying, “I’ve realised that self-care is very important. You have to

maintain what you have. You don’t know the value of what you have. Don’t let it go before you know the value.” She recounted her own journey, from being a young girl with big dreams to becoming a successful advertising executive, and encouraged women to draw inspiration from her story. “I wanted to break the TV and take the chocolate from the advertiser,” she joked, highlighting the importance of having ambition and working towards achieving one’s goals.

THURSDAY, JANUARY 1, 2026 • THISDAY

NEWS

3RD EDITION OF THE INDUSTRY WOMEN CONFERENCE CHANGEMAKER AWARD...

L-R: Convener, The Industry Women Conference and Publisher, The Industry Newspaper, Goddie Ofose; Founder/CEO, The Recharge Life Centre, Allen Ose Ediale; Founder/CEO, Ladybird Advertising and Industry Amazon 2025, Bunmi Oke; and veteran TV presenter and producer, Bimbo Oloyede, at the 3rd edition of the Industry Women Conference Changemaker Award held at Radisson Blu, Ikeja, Lagos… recently

Bala Mohammed Kicks against Terrorism Tag, Fumes over Alleged Persecution of Opposition If they want war, we will give them war, says Bauchi governor Laments incarceration of his finance commissioner Vows never to join APC

Emmanuel Addeh in Abuja

The Governor of Bauchi State, Mohammed Bala, yesterday expressed anger over what he said was information at his disposal that he had been tagged a ‘terrorist’ by the federal government, maintaining that the alleged persecution of leaders of the opposition must stop forthwith. Speaking at the Executive Council Chamber of the State Government House after receiving an award of excellence as a Safety Ambassador from the Safety Institute Professionals of Nigeria (ISPON), the Chairman of the Peoples Democratic Party (PDP) Governors Forum, insisted that he will never join the ruling All Progressives Congress (APC) despite current developments. The Bauchi governor maintained that although he was

willing to support President Bola Tinubu and by extension the federal government on issues of development, he was not a weakling and would make peace if the government at the centre wanted peace and give them war if that’s what the situation requires. While decrying the kind of politics he said is currently being played by the ruling party, the governor pointed out that his commissioner is currently being held for doing nothing, stressing that he was not a coward to bend to intimidation. “I was just waking up to an occasion where I was told that I am being accused of terrorism as a governor, someone who is the head of the opposition. My commissioner has been kept and would not be released by the EFCC. “Even when I have immunity

as a governor, my name was stupendously mentioned in a motion in a court of law in Nigeria. Me, Bala Mohammed, who is being recognised without my inclination for this kind of recognition. God is wonderful. I don’t have to say anything; I don’t have to go to the public

Former Niger State governor, Dr. Muazu Babangida Aliyu, has attributed the declining standard of education in the northern part of the country to “ the collapse of Grade 11 Teachers Colleges in Northern Nigeria”. Aliyu also submitted that the collapse of Grade 11 Teachers Education “is also responsible for the setback in quality education in the region.” The former governor

made the observations when he received members of the Niger State Chapter of the National Board for Islamic Studies, led by its Desk Officer, Alhaji Sulaiman Jibrin, who paid him a courtesy visit in Minna. Aliyu also advocated the introduction of free education up to secondary school level saying, “I made secondary education free during my tenure because education remains the greatest service to society”. He also emphasized that Arabic and Islamic educa-

the opposition, ‘If they want war, we will give them’. The governor alleged that the federal government has not done a single kilometre of road project in the state, explaining that even the security being experienced in Bauchi, including federal security personnel, were being funded

by his government. With the little resources at his disposal, Mohammed stated that he has worked to transform the state, despite the federal government collecting 51 per cent of all allocations. Continues online

2026: NBA Seeks Speedy Trial of Corruption Cases Says rule of law can’t be achieved with current level of corruption As EFCC’s boss, Olukoyede urges zero tolerance for corruption

Alex Enumah in Abuja

The Nigerian Bar Association Anti-Corruption Committee (NBAA-CC), has called for speedy trial of all corruption related cases so as to enhance the image of Nigeria in the international community. Chairman of the NBAA-CC, Prof. Babafemi Badejo, who made

Ex-Gov Babangida Aliyu: Why Education Standard is Falling in Northern Nigeria

Laleye Dipo in Minna

court, but certainly politics has become something else in Nigeria,” he lamented. Mohammed stated that he had kept quiet for a long time so as not to be seen as overheating the polity, but noted that since the federal government wasn’t relenting in the ‘persecution’ of

tion should be embraced across religious and cultural boundaries in the country before advising the Board to strengthen its alignment with national examination bodies including JAMB and UTME, for the success of its programnes. Ex-Governor Aliyu reaffirmed his support for initiatives aimed at promoting inclusive and integrated education in Niger State and Northern Nigeria adding that stakeholders should take the education of their wards serious.

the call in a goodwill message as Nigeria commences the new year, 2026, also stressed that as good as the rule of law is it cannot be achieved with the current level of corruption in Nigeria. Professor Badejo, while identifying corruption as a formidable challenge to Nigeria’s development and progress, stated that the past year has reinforced conviction that systemic change though difficult is worth striving for through relentless advocacy, institutional collaboration, and

the unwavering commitment of legal professionals. “In a recent press statement issued on the global AntiCorruption Day, the NBAA-CC notes and agrees entirely with the recent statement on commitment to the Rule of Law as expressed by the Chief Justice of Nigeria (CJN), Honourable Justice Kudirat Kekere-Ekun. The Rule of Law is the most potent weapon against corruption. However, the NBAA-CC hastened to add that the rule

of law cannot be achieved with the current level of corruption in Nigeria. “At the branch level, some progress were made at the branch levels in 2025. For example, the Idemili Branch in Anambra State is recognizing excellence and efficiency by awarding the High Court and Magistrate Court with the most dedicated Registrars in its Judicial Division, encouraging best practices and discouraging corrupt behaviour.

Osun APC to NULGE: You Lack Authority to Dictate Conditions for Resumption to Your Employers, Council Chairmen Yinka Kolawole in Osogbo The Osun State Chapter of the All Progressives Congress (APC) has accused the striking state chapter of the Nigeria Union of Local Government Employees (NULGE) under the chairmanship of Dr. Kehinde Nathaniel Ogungbangbe of being needlessly involved in partisan politics to the extent of becoming an extension

of Governor Ademola Adeleke’s choice of political extraction. A statement issued yesterday by Ogungbangbe indicated the willingness of his striking members to resume from their tenmonth’ sympathy strike with Governor Adeleke, noting it was a welcome development as their hitherto choice of abandoning their jobs for that

long was at their whims and caprices orchestrated by the governor. The statement noted: “We are stating unequivocally that the leadership of the Osun State Chapter of the NULGE led by Ogungbangbe is asking for more than it can chew as it is beyond the scope of their official responsibilities to dictate the Council executives they could work with.

THISDAY • THURSDAY, JANUARY 1, 2026

NEWS

ANNUAL GENERAL MEETING OF GEO-FLUIDS...

L–R: Company Secretary, Banwo and Ighodalo, Ms, Esther Ayorinde; Chairman/CEO, Geo-Fluids Plc, Kabiyesi Jacob Esan; Director, Geo-Fluids Plc, Alhaji Murtala Aliyu; and Non-Executive Director, Geo-Fluids Plc, Abubakar Bawa Bwari, during the Annual General Meeting of Geo-Fluids Plc in Abuja ... recently

Benin Oba Denies Authorising Attack as Obaseki’s Family Backs Pedro’s Legal Redress Bid Felix Omoh-Asun in Benin

The Obaseki family has said that it is in full support of Don Pedro’s bid to seek redress in a court of law, following his humiliation for alleged comments he made concerning the Oba of Benin’s Palace. The family said this in a press conference, stressing that it was hopeful that the law would take its full course concerning the matter. The Palace of the Oba of Benin has however disassociated itself from the attack on Pedro,

a cousin to former Governor of Edo State, Godwin Obaseki. In a statement yesterday, the Benin Traditional Council said the palace had nothing to do with the youths who assaulted and stripped the media veteran naked last Sunday. But the Obaseki family condemned the act as barbaric, shameful and a gross violation of fundamental human rights, vowing to support their son in seeking legal redress. “We are confident that the law enforcement authorities will take up this matter to its

logical conclusion. The Obaseki name has long been carved in gold through diligent services, sacrifices, and contributions, over centuries. The law is there against illegalities and threats. We urge our children to go about their lives and uphold our proud legacy—firmly, peacefully, and always within constitutional boundaries,” they posited. Speaking on behalf of the family, the Okaegbe of the Obaseki family worldwide, Daniel Igbinovia Obaseki, condemned the manner in

which Pedro was beaten and humiliated. “No father, mother, brother, sister, or person of good conscience can witness such sordid humiliation of a son of Benin—a respected professional, cultural ambassador, and member of a front-line, noble family—without being profoundly shaken,” he added. He explained that the family deliberately delayed reacting in order to properly digest the “bizarre” incident and await the response of constituted authorities.

However, he noted that the disturbing scenes circulating in the public domain compelled the family to speak out, warning that such acts were capable of damaging Benin’s long-held reputation as the home of culture, peace and discipline. Describing the footage as savage and wholly antithetical to Benin values, the Obaseki family also clarified that its position was neither political nor partisan, emphasising that the family has always accommodated diverse political views, provided they are expressed

Anthony Joshua Discharged from Hospital After Tragic Road Accident Lagos, Ogun govts commend Iwosan Lagoon Hospital for quality of care, professionalism

Chiemelie Ezeobi

Anthony Joshua has been discharged from hospital following the road accident that occurred on December 29, 2025, which claimed the lives of his two close friends, Lateef Ayodele and Sina Ghami. In a joint statement issued yesterday by the Lagos State and Ogun State governments, both administrations once again commiserated with the families of the deceased, describing the incident as tragic and unfortunate. The statement, signed by Mr Gbenga Omotoso, Commissioner for Information and Strategy, Lagos State, and Mr Kayode Akinmade, Special Adviser

on Information and Strategy, Ogun State, prayed that The Almighty grant the repose of the souls of the departed and give their families and loved ones the fortitude to bear the painful loss. According to the statement, Joshua was discharged from hospital late in the afternoon, though heavy hearted and full of emotions over the loss of his two close friends. He was deemed clinically fit to recuperate from home. The statement further disclosed that Anthony Joshua and his mother were at the funeral home in Lagos earlier in the afternoon to pay their final respects to his two departed friends, as

preparations were being made for their repatriation

Joshua

scheduled for later in the evening.

Governors Babajide Sanwo-Olu and Dapo Abiodun of Lagos and Ogun states, respectively, expressed deep appreciation for the public concern and the show of love and affection received following the incident. They also acknowledged President Bola Ahmed Tinubu for the fatherly support he provided throughout the process. Furthermore, they extended appreciation to the team of doctors and medical personnel at Iwosan Lagoon Hospital Ikoyi who attended to Anthony Joshua and others who sustained injuries, noting that the quality of care and professionalism were truly commendable.

with civility, respect and strict adherence to the law. It maintained that the victim, Pedro, has conducted himself honourably at all times and that there was absolutely no justification for the violence visited upon him. While reaffirming its respect for the Palace of the Oba of Benin as a unifying institution and moral compass for all Benin people, the family warned that nothing should be done by non-palace functionaries to undermine the dignity and exalted position of the revered traditional institution. In the interest of justice and societal balance, the Obasekis called for a thorough, lawful and impartial investigation into the incident, urging that anyone found culpable be held accountable. “The Obaseki Council has been deeply disturbed by the deplorable incident of mob violence and public humiliation meted out in broad daylight to our son, Dr. Don Pedro Agbonifo Obaseki, on Sunday, 28th December 2025, by suspected individuals who are neither palace functionaries nor agents of the state. “The Obaseki Council wishes to state categorically that it is not political or partisan. Our family has always been robust enough to accommodate diverse political views and personal convictions, provided they are exercised with civility, respect for others, and strict adherence to the law. “On these counts, Dr. Don Pedro Agbonifo Obaseki has conducted himself honourably, and we find no justification whatsoever for the violence visited upon him,” the statement noted.

THURSDAY, JANUARY 1, 2026 • THISDAY

NEWS

THANKSGIVING FOR THE OVER CONTRIBUTORY SCHEME EXITS...

Members of the Police Retirees Association of Nigeria, Kaduna State Chapter, during a special prayer and thanksgiving for the over contributory scheme exits, to express joy over potential improved welfare in Kaduna on Tuesday

Akpabio, Saraki, Amaechi, Makarfi, Other Leaders Preach Unity, Peace in New Year Bennett Oghifo in Lagos, John Shiklam in Kaduna and Sunday Aborisade in Abuja Prominent Nigerian leaders, yesterday, in their respective new year messages, harped on unity and peace of the country as Nigeria transits into 2026. President of the Senate, Senator Godswill Akpabio, has declared that 2026 would mark a year of renewed hope and steady national progress for the people of Nigeria. He, however, reaffirmed the National Assembly’s resolve to protect democratic stability, strengthen institutions, and place national unity above partisan interests. In his New Year message, Akpabio expressed confidence that the country would record measurable gains in governance and development, insisting that sustainable progress must be driven by strong institutions rather than individuals. The message, signed by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh, commended Nigerians for their resilience and patience amid economic and security challenges. He underscored the pivotal role of the Senate in promoting accountability, democracy, and good governance. He said, “As we enter the year 2026, I extend my warm wishes to Nigerians for a peaceful and fulfilling year. I commend the resilience, patience and civic maturity of our people, even in challenging times.” He stressed that while the Executive continued to roll out policies and reforms, the National Assembly remained firmly committed to its constitutional duties of lawmaking, representation and oversight to ensure that governance outcomes reflect the aspirations of the people.

“The Senate and the entire National Assembly will continue to discharge their duties with diligence, providing legislative support where necessary, exercising oversight where required, and always acting in the best interest of national unity, economic stability and social justice,” he said. Akpabio expressed cautious optimism that ongoing efforts to tackle insecurity, economic pressures, infrastructure deficits and youth unemployment would yield more tangible results in the coming year. He said, “Our democracy is strengthened when institutions function properly and leaders remain accountable. “The National Assembly will continue to work to strengthen these institutions and ensure that public policy is peoplecentred and forward-looking.”

Bukola Saraki:

Former Senate President, Dr. Abubakar Bukola Saraki, has advised Nigerians to avoid issues, actions, statements, and moves that could divide the country and set one part against the other in the new year. In his New Year Message signed by the head of his Media Office, Yusuph Olaniyonu, Saraki stated that though the country currently faced major challenges in the areas of economy, infrastructure, national security, politics, and the development of its various institutions, he added that the ability to recover from the challenges lay in the unity of the different parts. He added that the country stood a good chance of overcoming its various challenges once it stayed together in one piece and with peace reigning among the various groups “because its numerous resources overwhelmingly outweigh the challenges and can easily douse

the various negative points. “A united Nigeria just needs peace and proper coordination to rise and fulfill its manifest destiny as a global leader. That is why all Nigerians, young and old, should avoid any drift towards issues that will threaten the unity of the country. “A country of over 200 million people whose majority are energetic, creative, and forward-looking youths with all the numerous potentials in the area of agriculture, mineral resources, oil, tourism potentials, and a positive climate is destined to be great. “This is a country that will soon lead the world once we get the issue of leadership right and we have the right attitude and discipline among the citizenry. “The current challenges are temporary. We shall overcome them in no time. That is why I enjoin all Nigerians to see 2026 as our national turning point. “Let us see it as the year when we will embrace discipline, tolerance of each other’s viewpoints, avoid the fault lines, and generally adopt a positive

attitude. “There is no doubt that the best set of citizens any country can boast of are present in Nigeria - very determined, hardworking, focused, resilient, creative, and brilliant. That is why I see 2026 as a positive turning point for Nigeria.”

Rotimi Amaechi:

A former governor of Rivers State and the Immediate paste minister of transportation, Chibuike Rotimi Amaechi, has prayed for peace, unity and prosperity in every household across Nigeria as the nation joins the rest of the world to celebrate 2026 New Year. Amaechi, in the New Year message wrote: “My family and I extend our heartfelt wishes of peace and prosperity to every household across our beloved nation. “The past year has indeed tested our resilience as a nation, with many families struggling under the unbearable weight of economic hardship, the unfortunate rising cost of living, and widespread insecurity.

“As we welcome the New Year, let us all commit to making a turning point in our national aspiration for peace, unity, improved security of lives and property, economic stability and prosperity, and the overall well-being of our people, by holding the government accountable. “We must collectively demand leadership that is responsible, responsive, transparent, people-oriented, and accountable to the people.” The former minister called on Nigerians to demand for economic reforms that would result in job creation, poverty reduction, affordable healthcare, affordable housing, affordable food, and quality education for all. He also urged Nigerians to insist on political and electoral reforms that would provide a free, fair, and transparent electoral process. “We deserve a Nigeria where justice, fairness, and the rule of law are respected. For me, I will continue to stand firm with Nigerians, to speak truth

to power, to challenge policies that deepen suffering, and to offer constructive direction that can restore dignity, honour, economic prosperity, improve security, and provide impactful purposeful political leadership to our nation. “Nigeria’s greatness does not lie in the hands of a few elites or any ruling class, but in the determination of the millions of ordinary citizens. “Together, we can build a country where opportunity and prosperity are not reserved for the privileged few, but shared by all. May this new year bring healing to our land, courage to our people, and a brighter future for generations to come. Happy New Year!” Amaechi said.

Ahmed Makarfi:

Former governor of Kaduna State, Senator, Ahmed Makarfi, has urged Nigerians to enter the New Year with renewed resolve, unity and faith in the country. Continues online

Atiku:2025, Nigeria’s Most Punishing Year Has Ended, APC Drowning Nation in Debt Chuks Okocha in Abuja

Former Vice-President Atiku Abubukar has said that Nigerians should be happy that 2025 has ended, describing it as the most punishing year. In a statement, Atiku said, ‘’For millions of long-suffering Nigerians, the only consolation is that 2025—one of the most punishing years in our recent history—has come to an end. It was a year defined by economic suffocation, political recklessness, and governance without empathy under the All Progressives Congress (APC)

administration. ‘’The past year exposed, in stark terms, the incompetence and policy bankruptcy of President Bola Tinubu. Governing for months without a functional budget, the administration relied on propaganda while borrowing recklessly, pushing the nation to the brink of economic collapse. “Nothing better captures the decay of this government than the scandal of a forged tax law, shamelessly branded a ‘reform’. Even more disturbing was the president’s refusal to allow due legislative and legal processes

to address what is clearly a criminal act. A government that begins reform with forgery cannot end with prosperity. In the same year, Atiku said Nigeria’s democratic foundations were deliberately weakened, as the APC worked systematically to deform our multiparty democracy into a de facto one-party state through coercion, intimidation, and state capture. ‘’While drowning the nation in debt, the government falsely claimed to have met revenue targets,’’ he said. While noting that the ‘’inse-

curity worsened dramatically,” he added that, “kidnappings, abductions, and violent crimes surged, affecting citizens young and old alike. Lives were lost, livelihoods destroyed, and communities terrorised, while government assurances rang hollow. ‘’The administration spoke endlessly of economic recovery, yet unemployment, underemployment, labour unrest, and collapsing small businesses defined the year. Industries shut down. Workers were sent home. Hunger spread. Suffering became normalised.

THISDAY • THURSDAY, JANUARY 1, 2026

NEWS

CELEBRATION OF EYO FESTIVAL IN LAGOS...

L-R: Otunba Bimbo Ashiru; Chief Mrs. Wosilat Seriki; Chief Mrs. Sade Okoya; and Senator Dr. Lanre Tejuoso, during the Eyo Festival at Tafawa Balewa Square, Lagos… recently

Peter Obi Declares ‘Full Membership’ of ADC, Insists New Nigeria Still a Possibility Attracts federal lawmakers, others to ADC Atiku express satisfaction with his defection APC: Obi enters Nigeria’s coalition of chaos Chuks Okocha in Abuja, Segun James in Lagos, Emmanuel Ugwu-Nwogo and Gideon Arinze in Enugu Presidential hopeful, Mr. Peter Obi, Tuesday, declared his “full membership” of the African Democratic Congress (ADC), ending speculations about his political direction for 2027. He announced his choice of party in Enugu during a “special event” organised by Southeast stakeholders from the Peoples Democratic Party (PDP), Labour Party, and

the All Progressives Grand Alliance(APGA). Obi said declaring for ADC was not defection because from the very beginning he has been part of every meeting and discussion for the formation of the coalition that coalesced into ADC. He promised to use the platform to retrieve Nigeria from bad leadership that has been holding the country down. The former Anambra State governor reiterated his belief that “a new Nigeria is possible”, adding that he would

see to it that the nation was changed for the better because “our commitment is about Nigeria.” He described Wednesday December 31, 2025, as “an important day” for him to make known his political platform for 2027 given that “it is the last day of 2025 and by tomorrow, 2026, we will begin a journey that will lead to a better Nigeria.” The former presidential candidate regretted that those that benefited from the current democratic dispensation

have become accessories to its destruction. However, he vowed that “we cannot allow” destruction of democracy in Nigeria to happen, adding that, “we will resist rigging in 2027 by every means possible.” Alluding to the controversies that plagued the issue of President Bola Tinubu’s qualification to contest the presidential election, Obi said “we have pre-election period now” to resolve every issue concerning qualification of candidates for 2027 poll.

We’ll Reveal Agreement with Fubara Before Tinubu to Rivers People, Says Nyesom Wike Insists no going back on decision for 2027

Olawale Ajimotokan in Abuja and Blessing Ibunge in Port Harcourt

Minister of the FCT, Nyesom Wike, has accused Rivers State Governor, Siminalayi Fubara, of reneging on the agreement brokered by President Bola Tinubu in June 2025 over their political differences, vowing to spill out details of the peace deal to the people of the state. He stated this yesterday while addressing the people of Tai Local Government Area of Rivers. Wike said, “Very soon, we will let the people of Rivers State know what we agreed on before Mr President” advising the residents of Tai not to deal with duplicitous people who cannot keep their promises in the name of politics. The minister, who said he

was not in the community for politics but to thank the people of Tai for standing with him and Tinubu, said the Rivers people were battle ready for 2027 elections and warned that money would not work in the state. “It was a tough battle in 2023. You took a risk, worked with us and God gave us victory. See what the risk had resulted to – a federal university sited in Tai and many other benefits,” Wike said. One of those who spoke at the political gathering was Senator Barry Mpigi, APC -Rivers South East, thanked President Tinubu and Wike for their support for the senatorial district saying, the people never had it this good. Also, Mr. Bernard Nbar, who represents Tai Constituency in

Rivers Assembly, assured Wike of the continued support of his constituents. Chairman of Tai Council, Mbakpone Okpe, thanked Wike for the interactive visit to Tai people. He described the minister’s

directive to vote Tinubu in 2023 as a blessing following the good things that have continued to follow his people. In Eleme Local Government Area of the state, he declared that the decision made during peace agreement must stand.

He enjoined Nigerians to come together and ensure the emergence of a competent leadership in 2027, adding that with unity and a leader, who is competent and has capacity, Nigeria would find its way out of the woods. “And know that two things are critical if we are going to turn around Nigeria. We must stay united. Nigeria today is not united. We must ensure unity of the country. We must ensure we have competent leadership. “A leader must always tell the truth and must be trusted. A leader cannot tell us one thing and will be doing another thing,” adding that what we have now “is a situation where we say we are chasing thieves and we have other thieves in our front.” He explained that his belief that Nigeria could be changed for better was not based on theoretical postulation but anchored on his personal studies on how countries that shared Nigeria experience were able to overcome their drawbacks. Citing Indonesia and

Rwanda that have risen beyond their limitations to grow their economies to the extent of being reference points in good leadership, Obi expressed confidence that Nigeria could also experience transformation with the right leadership.

Atiku Satisfied with Obi’s Defection

Former Vice-President Atiku Abubakar, has expressed satisfaction with the defection of Obi to ADC In a statement, Atiku said, ‘’Today marks a significant moment in the history of political coalitions in our country, with the official declaration of my brother and associate, @PeterObi, into the African Democratic Congress (ADC). ‘’It is my pleasure to welcome him officially, as we look forward to a robust working relationship that will foster a virile opposition, one that will ultimately form a government capable of bringing prosperity and peace to our people. Continues online

PDP Appoints Caretaker C’ttees in Cross River, Akwa Ibom Chuks Okocha in Abuja

The Peoples Democratic Party (PDP) has constituted Caretaker Committees for its Cross River and Akwa Ibom state chapters, strengthening interim leadership structures pending fresh congresses in both states and nationwide party reorganisation efforts. The party disclosed the decision in a statement by its National Publicity Secretary,

Ini Ememobong, in Abuja, following deliberations at the national secretariat involving senior party officials present. The caretaker committees were approved by the National Working Committee on behalf of the National Executive Committee, pursuant to Section 29(2)(b) of the PDP Constitution, 2025, as amended in line thereto. Appointed Chairman of the Cross River State Caretaker Committee was Bassey Ewa,

with Dr Bassey Adim as Secretary and Emmanuel Ekpe as Administrative Secretary to oversee interim party administration statewide. Other members of the Cross River Caretaker Committee included Dr Joe Edet, Udie Mike, Dr Lynne Bassey, Etim Okon, Ankot Cohbom, Ofana Odo, Dr Onun Unoh, Ebaye Akunjom and Godswill Obindim. Also appointed to the committee were Edem Ekong,

Raymond Abo, Moses Bisuakefe, Agabi Oko, Walter Esom, Ekpo Asuquo and Pastor Victor Takon as additional members supporting party coordination efforts locally. For the Akwa Ibom chapter, the party appointed Igwat Umoren Chairman, Harrison Ekpo Deputy Chairman, Borono Bassey Secretary, Ewa Okpo Publicity Secretary and Uduak Essien Organising Secretary to steer interim leadership.

THURSDAY, JANUARY 1, 2026 • THISDAY

NEWS

ZULUM TOURS GUBIO LGA...

Borno State Governor, Professor Babagana Umara Zulum (2nd left), Borno State Commissioner of Health, Professor Baba. Mallam Gana (1st left), Gubio LGA Chairman, Mali Bulama Mali Gubio (middle), with other officials during a visit to Gubio LGA by Governor Zulum on Wednesday.

Presidency Knocks Obi’s Flaunted Leadership Pedigree Says his claims should be taken with a pinch of salt Describes him as a failed politician who couldn’t govern Anambra effectively for eight years Stresses that Tinubu since May 29, 2023 has demonstrated effective leadership anchored in strategic policies and reforms

Deji Elumoye in Abuja

The Presidency has faulted the much flaunted pedigree of former presidential candidate of the Labour Party, Mr Peter Obi, while defecting to the African Democratic Congress on Wednesday. Presidential spokesperson, Bayo Onanuga, in a post on his verified X handle, @ aonanuga1956, on Wednesday emphasised that all the claims by Obi at the defection ceremony should be taken with a pinch of salt adding that “only the madman he consults in Onitsha would be comfortable handing over Nigeria to him.” The Presidency also described Obi as a failed politician who couldn’t govern a small state like Anambra State effectively for eight years. It also stressed that the importer has never seen any-

thing good in the outstanding achievements in the over two and half years administration of President Bola Tinubu in restructuring the economy, eliminating wasteful petrol subsidies, andcandiding its dependence on the oil sector. Full text of the Presidential spokesperson X posting: “I watched as Peter Obi, the former Labour Party presidential candidate, formally joined the ADC after abandoning the party he had used to pursue his ill-fated presidential ambition. “About three years after the 2023 election, Obi, the wandering politician — who moved from APGA to PDP to Labour and now ADC — still sounded bitter about coming third. He continues to claim he was robbed of victory, even though empirical analyses of the poll showed he could not have won and was fortunate to even emerge third because of

the anomalous polling figures recorded for him in his South East region. “At his event, Obi’s bitterness was evident. What concerned me most were his references to books, professors, and other nations to buttress his belief that he has learnt from the masters and

Senator representing Delta Central, Ede Dafinone, has urged members of the All Progressives Congress (APC) in Delta State to embrace unity and inclusiveness as the party workedto build a stronger structure capable of winning all elective positions in the 2027 general election. Speaking at an end-of-year luncheon for APC members from the eight local government areas of Delta Central at his residence, Dafinone said the party must learn from its shortcomings in the 2023 polls and deliberately strengthen internal cohesion.

porters to work with new party members, stressing that unity remained APC’s greatest strength and the foundation for future electoral success. The senator reminded party members that the APC now controls both the federal and state governments, urging total support for President Bola Tinubu and Delta State Governor, Hon. Sheriff Oborevwori. “We are all APC. Our governor, Elder Sheriff Oborewori is APC. Our president, Bola Ahmed Tinubu is APC. So, we must continue to support them and their policies fully. We must work together, federal,

“Because Obi sorely lacks the leadership pedigree, beyond being a successful importer, only the madman he consults in Onitsha would be comfortable handing over Nigeria to him. “However, Obi’s reasoning is flawed. Nations are not identical, and what worked

in Indonesia or the USA may not necessarily work in Nigeria. No leader can move a country forward by simply copying and pasting models from elsewhere. Nations require original thinkers, not copycats. Homegrown solutions are essential for proper development.

Terrorists Migrate as US, Nigerian Military Airstrikes Pound Their Identified Enclaves Airstrikes eliminated 2,351 insurgents in 24/7 air interdiction missions in 2025, says NAF

Alex Enumah and Linus Aleke in Abuja

The Defence Headquarters (DHQ), has acknowledged growing intelligence indicating that terrorist factions were relocating into local communities as a result of sustained military

Dafinone: Delta APC Must Unite Ahead 2027 He called on his sup- state and local government as

Sylvester Idowu in Warri

that Nigeria should be entrusted to him because he claims to know the secrets of national development. This posturing should be taken with a pinch of salt, coming from a politician who was an abysmal failure in a small state like Anambra, which he governed for 8 years.

one big family.” Dafinone praised Tinubu’s leadership, saying his economic reforms, though painful, were necessary for long-term stability. “The removal of subsidy was painful, because the petroleum subsidy payment was benefiting only a few. But today, things are beginning to adjust, the price of food items is coming down, and Nigeria will be better for it,” he said. Urging party members not to lose faith, Dafinone called for patience and collective resolve, stating, “Stay strong. Stay united. Keep believing. Together, we will move forward.”

pressure on identified enclaves by Nigerian forces, supported by United States airstrikes. The military said it was closely monitoring the situation, noting that reports of armed elements moving into some communities under the guise of other groups were being treated with utmost seriousness. Speaking at a media briefing yesterday in Abuja, the Director of Defence Media Operations, Major General Michael Onoja, said intensified counter-terrorism and counterinsurgency campaigns across the country had significantly weakened terrorist networks over the past year. According to him, between January and December 2025, security forces arrested 4,375 enemies of the state, while 1,616 terrorists and their family members surrendered. Within the same period, troops rescued 2,336 victims abducted by criminal and terrorist groups. General Onoja explained that increased air and ground operations had forced surviving terrorists to flee their strong-

holds,/prompting attempts to blend into civilian populations. “Intelligence, Surveillance and Reconnaissance assets are actively monitoring terrorist movements across various operational theatres,” he said, saying, “Several movements have been identified and are currently being tracked.” He assured Nigerians that the Armed Forces of Nigeria (AFN), working alongside other security agencies, had intensified proactive measures to prevent fleeing terrorists from infiltrating or destabilising communities. The military spokesman urged citizens to remain calm but vigilant, and to cooperate fully with security agencies by promptly reporting suspicious movements or activities in their areas. “The Defence Headquarters remains resolute in its commitment to safeguarding lives and property and to upholding national security,” Onoja said. “Our troops and other security stakeholders are determined to deny terrorists, insurgents, bandits and kidnappers

freedom of action across the country,” he said. NAF: Airstrikes Eliminated 2,351 Terrorists in 247 Air Interdiction Missions in 2025 The Nigerian Air Force (NAF) has eliminated no fewer than 2,351 terrorists through sustained, intelligence-led air campaigns conducted across multiple theatres of operation nationwide. According to official figures, the successes were achieved through 247 Air Interdiction (AI) missions executed in 379 combat sorties, targeting terrorist enclaves, logistics bases, training camps and key mobility routes. These operations formed part of a broader air power effort aimed at degrading the operational capacity of terrorist and bandit groups. A statement issued by the Director of Public Relations and Information of the Nigerian Air Force, Air Commodore Ehimen Ejodame, noted that the Air Interdiction missions alone accounted for nearly 800 flight hours, highlighting the service’s endurance, reach and growing operational dominance.

THURSday january 1, 2026 • T H i s d ay

NEWS

SO&U GIVE LOVE INITIATIVE…

L-R:Associate Director, People Operations, SO&U Group, Tomisin Akingboye; Senior Group Head, PR & Events, Soulcomms, Ugochukwu Uwajeh; Chief Operating Officer, Vyrus Digital Engagement, Deji Atunwa; Senior Group Head, Administration, Kemi Evbota; Chief Operating Officer, Soulcomms, Ayodeji Onabajo, and Brand Director, SO&Ux, Mide Odofin, at the 2025 SO&U Group Give Love Initiative in Lagos...recently

Troops Intercept IED Materials, Apprehend Suicide Bomber in Borno

Linus Aleke inAbuja

Troops of the Joint Task Force North East (JTF NE), Operation Hadin Kai (OPHK), have arrest a suspected suicide bomber and intercepted materials intended for the manufacture of Improvised Explosive Devices (IEDs)

in Borno State. The arrest followed sustained intelligenceled operations aimed at tightening security around Banki Town in Bama Local Government Area. The operations were carried out by troops of the 152 Task Force Battalion in collaboration with other

security agencies. According to a statement issued by the Media Information Officer of JTF NE, Operation Hadin Kai, Lieutenant Colonel

2024/2025 academic sessions, at the prestigious National Tertiary Admissions Performance-Merit Awards (NATAP-M) recently at the Bola Ahmed Tinubu International Conference Centre in Abuja. PEFTI has been accredited to offer National Diplomas in Business Administration and Management, Fashion Design and Clothing Technology, Mass Communication, Multimedia Technology, and Music Technology.

possession of primed IED components, suggesting an imminent plan to carry out an attack. Preliminary investigations, he added, revealed that the suspect

is a native of Bama Local Government Area, stressing that further searches uncovered additional incriminating items linked to terrorist activities.

Rivers Explains Reason for Christmas Bonus to Civil Servants Blessing Ibunge in Port Harcourt

Secretary of the Ministry of Information Ministry Accredits 5 New Permanent and Communications, Rivers State, Dr Honour ND Programmes for PEFTI both the 2023/2024 and Sirawoo, has explained Sunday Okobi The Federal Ministry of Education, through the National Board for Technical Education (NBTE), has upgraded and accredited the special institution, Performing Arts Entrepreneurship Fashion and Technology Innovation (PEFTI), with five new National Diploma (ND) programmes. This feat was achieved shortly after the institute was recently crowned the “Best Innovation Enterprise Institution in Nigeria” for

Sani Uba, the suspect was apprehended at the Banki Central Mosque. Uba said the individual, identified as Abubakar Mustapha, was found in

that Governor Siminalayi Fubara’s Christmas bonus to civil and public

servants in the state is an annual ritual targeted at contributing to the welfare of workers. Sirawoo said the annual N100,000 enjoyed by civil and public servants on the payroll of the state government is a token of appreciation for the dedication to service

shown throughout the year. The Permanent Secretary made this assertion in a letter replying to an earlier letter by the Chairperson of Nigeria Labour Congress ((NLC), Rivers Council, Alex Agwanwor, commending the governor for the gesture, describing

it as a demonstration of responsive and workerfriendly governance. According to Dr. Sirawoo, the governor remains committed to proactive measures that would provide a social safety net for state employees and their families.

Genocide: CAN, Plateau Youth Coalition Raise the Alarm Yemi Kosoko in Jos

The Christian Association of Nigeria (CAN), Plateau State Chapter, alongside a coalition of indigenous youth bodies, has issued a strong call for urgent international intervention over what it describes as

a “systematic genocide” targeting Christian communities across Nigeria’s Northern and Middle Belt regions. The position was presented at a joint press conference in Jos yesterday by Chairman of the Ropp Regional Church Council

of the Church of Christ in Nations (COCIN), Rev. Ezekiel Dachomo. Rev. Dachomo, who spoke on behalf of the groups, said the briefing was necessitated by what he described as overwhelming evidence of coordinated attacks, mass

killings, and displacement of Christian populations in several states. He said the documentation presented to journalists included community records, victim lists, district reports, and photographic evidence spanning more than two decades.

HEWAN Wants Rapid Response on Highways to Reduce Road Crash Deaths Ayodeji Ake

are worsened by weak,

injuries and tragically

crashes remain a major

deep concern over the persistent loss of lives and rising cases of severe injuries resulting from road crashes across the country, many of which

with the families of the British-Nigerian two-time unified world heavyweight boxing champion, Anthony Joshua, and his friends who sustained severe

association said it shared in the grief of all bereaved families and prays that the souls of the departed rest in perfect peace. While road traffic

disabilities occur not only because crashes happen, but because victims fail to receive timely rescue, pre-hospital care, and definitive medical attention.

or absent lost their lives on Monday, public health challenge, 2026: ‘A Call on Politicians The Health Writers delayed, emergency response following a fatal motor HEWAN noted with accident along the concern that many of Nigeria systems. for Maturity, Decorum’ Association HEWAN commiserated Ibadan Expressway. The fatalities and long-term (HEWAN) has expressesed

Chuks Okocha in Abuja

The Senior Special Assistant on Public Enlightenment to the immediate past National Chairman of the All Progressive Congress (APC), Chief Oliver Okpala, has urged politicians to show a high level of political decorum, maturity and caution in 2026. According to Chief Okpala, the stakes are very high in 2026 because it is the year when the major political activities

and horse trading would take place ahead of the 2027 general election. The veteran journalist in a statement he issued in Abuja, emphasised the need to place priority in the greater good of the nation over personal and party interests. “As a veteran journalist, I’m compelled to sound a note of caution to our political class. The current state of our nation’s politics demands a high level of maturity and restraint that is largely currently lacking.

MAPOLY Inaugurates Block-Making Industry, Solar Power System Authorities of Moshood Abiola Polytechnic (MAPOLY), Abeokuta, led by the Governing Council Chairman, Emeritus Prof. Kamaldeen Balogun, have officially inaugurated Special Students’ Entrepreneurship Practical Projects(SPEsP) executed

by the Institution’s Centre for Entrepreneurship Development (MAPCED). The SPEPs include a 5 KVA solar power system, a multi-point Wi-Fi system installation, and a concrete blockmaking industry. These projects were executed

at the centre during the last academic session by students under the supervision of the Entrepreneurship Directorate, with technical support from industry experts. At the event, Prof. Balogun emphasised

that Nigerian Polytechnics have the capacity to drive the country’s entrepreneurship revolution, provided they receive the necessary support from the government and other key stakeholders in the education sector.

THURSDAY, JANUARY 1, 2026 • THISDAY

THURSDAYSPORTS It’s Nigeria v Mozambique’s Mambas in Round of 16 on Monday

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Duro Ikhazuagbe

With the conclusion of the final fixtures of the group stage yesterday, Nigeria’s Super Eagles have been scheduled to clash with Mozambique’s Mambas on Monday in the Round of 16 of the 35th Africa Cup of Nations finals in Morocco. By virtue of Nigeria topping Group C with maximum nine points, the Super Eagles will stay back in Fes, Morocco to take on the Mozambicans inside the 35,000-capacity Complexe Sportif at 8pm on Monday, 5th January. Super Eagles have scored eight goals and conceded four at that venue. Ademola Lookman and Raphael Onyedika have scored twice each, with Semi Ajayi,

AFCON 2025 Victor Osimhen, Wilfred Ndidi and Paul Onuachu supplying the other goals to earn full marks in the group phase of Morocco 2025. Mozambique’s Mambas on the other hand, lost their opening game to Cup holders Cote d’Ivoire, but then dug their feet into the ground to triumph over Gabon, before losing 1-2 to Cameroon’s Indomitable Lions on Wednesday evening. In their six appearances in AFCON, this is the first time Mozambique will emerge from the group stage as their previous outings in 1986, 1996, 1998, 2010 and 2023 ended with the Mambas finishing bottom of the table on each occasions. Monday’s confrontation

is expected to be explosive, as the young Mambas have demonstrated capacity to stand toe-to-toe with the big teams and pull something out of the inferno whenever they need to. Of their five previous confrontations, Nigeria have been victorious on four occasions, including their only AFCON

encounter way back in Lubango, Angola in January 2010, in which the Eagles ran away with a 3-0 win. Former Eagles forward, Osaze Odemwingie, scored a brace within two minutes (45th and 47th), while Obafemi Martins added the third four minutes to the end of regulation time. Nigeria won a friendly match

in Maputo in August 1999 by the odd goal and won another one in Portugal in October 2023 by 3-2, while 2010 FIFA World Cup qualifying matches ended 0-0 in Maputo and 1-0 in Abuja, Obinna Nsofor scored five minutes into added time to keep alive Nigeria’s World Cup hopes.

RESULTS

E’Guinea 1-3 Algeria Sudan 0-2 Burkina Faso Gabon 2-3 Côte d’Ivoire Mozambique 1-2 Cameroon

ROUND OF 16 FIXTURES

Saturday: Senegal v Sudan, Mali v Tunisia Sunday: Morocco v Tanzania, S’Africa v Cameroon Monday: Egypt v Benin Nigeria v Mozambique Tuesday: Algeria v DR Congo Côte d’Ivoire v B’Faso

Mark Igoche Hails NSC Leadership, Foresees Bright Future for Nigerian Sports in 2026 As the National Sports Commission (NSC) continues to drive transformative reforms in Nigerian sports, basketball promoter and initiator of the Mark D’Ball Basketball Championship, Igoche Mark, has welcomed the developments, expressing unbridled optimism about the future of the sport in the country. Speaking in Abuja, Igoche Mark said, “The establishment of the National Sports Commission (NSC) by President Bola Ahmed Tinubu (GCFR) in November 2024 has marked a paradigm shift in Nigerian sports administration. Under the stewardship of Chairman Malam Shehu Dikko and Director General Hon. Bukola Olopade, the commission has embarked on a transformative journey to revitalize the nation’s sports sector, injecting much-needed vitality into the industry.” Igoche Mark, who has been a vocal advocate for basketball development in Nigeria, praised the NSC’s flagship

programme, the Renewed Hope Initiative for Nigeria’s Sports Economy (RHINSE), saying, “The RHINSE programme is poised to transform sports into a significant contributor to Nigeria’s GDP, catapulting the country into a new era of sports prosperity. The plans to renovate several major stadiums across the country and the Junior Athletes Initiative (JAI) are empirical evidence of the commission’s commitment to building a robust sports ecosystem that benefits athletes, administrators, and fans alike.” On the impact of the reforms, Igoche Mark noted, “The sports sector’s contribution to Nigeria’s GDP has risen to over 1%, an unprecedented achievement that underscores the immense potential of Nigerian sports. The Nigerian sports ecosystem is vibing to the reforms, with private investments pouring in and grassroots sports receiving a much-needed boost, empowering young athletes to dream big and achieve greatness.”

Igoche Mark....thumbs up NSC reforms in Nigerian sports

L-R: Super Eagles’ Moses Simon, Samuel Chukwueze and Raphael Onyedika and Uganda’s Nigeria-born forward, Uche Ikpeazu, during the final Group C clash with the East Africans at the ongoing AFCON 2025 in Morocco. Nigeria won 3-1 to top the group.

Soname: Why CAF Snubbed Nigerian Referees in the Last 17 Years Duro Ikhazuagbe

A major stakeholder in Nigeria’s domestic football, Billionaire businessman, Kunle Soname, has insisted that the almost 17 years snubbing of the countries football referees by the Confederation of African Football (CAF) is not likely to abate now unless there is a drastic move to halt the systemic failure working against quality officiating in the leagues here. No Nigerian referee is amongst the 73 highly experienced officials comprising 28 referees, 31 assistant referees, and 14 VAR officials handling affairs at the ongoing 2025 AFCON in Morocco. Speaking yesterday in Ikenne, Soname who is the financier of Remo Stars, the defending champions of the Nigerian Premier Football League (NPFL), insisted that Nigerian referees are suffering from what he calls “deep-rooted crisis in match officiating in the country.” According to Soname, poor officiating—often appearing

“fraudulent or grossly incompetent”—has systematically eroded the credibility required for Nigerian referees to earn international appointments. The Remo Stars financier stressed that the problem goes beyond isolated mistakes and represents a dangerous pattern threatening the integrity of the Nigeria Premier Football League unless something is done fast to reverse the scourge. Soname insisted that he was speaking not merely as a club owner but as a major stakeholder concerned about the future and integrity of club football in the country. He backed up his claims with video evidences of at least five recent incidents that underline the severity of the problem in the Nigerian topflight. Amongst some of the videos, he cited two clear penalties denied to Remo Stars in a single match: a blatant foul ignored against his team that directly resulted in an opposition goal, and a wrongly disallowed legitimate goal scored by Rangers International against

Kunle Soname ...wants drastic overhaul of the country’s referees committee Rivers United. Soname also displayed another video of how a foul against a Shooting Stars defender before an attacking player of Barau FC went on to score a goal. “These are not 50–50 calls,” Soname Insisted. “They are blatant errors captured on video—decisions that directly change match outcomes and contradict all available evidence.” He revealed that he had sent the video clips to the leadership

of the Nigeria Football Federation (NFF), the Nigeria Premier Football League (NPFL) and that the chairperson of the Referee Appointment Committee, Faith Irabor, is aware of these issues that he raised at the media session. The club owner revealed that he sent the video clips to match officials in Europe to analyze and that the conclusion was that the referees in question all erred. Soname therefore placed the responsibility for oversight on the Referees’ Appointment Committee of the Nigeria Football Federation, accusing the body of enabling the crisis to fester by failing to sanction poor performances and by offering implausible justifications for obvious errors. He called on the NFF, NPFL management and the Referees’ Committee to urgently review the cited incidents, enforce accountability and rebuild confidence in the league. More critically, he insisted that the Referees’ Appointment Committee must be comprehensively restructured.

T H I S D AY • THURSDAY, JANUARY 1, 2026

BACK PAGE CONTINUATION WELCOME TO 2026 AND HAPPY NEW TAX! have been conditioned to believe that we are a rich country where government is simply required to dispense the goodies free of charge without demanding anything of citizens. The politicians who sell this lie, of course, know what they are doing. The problem is compounded by the fact that we live in a country where people supply their own electricity, erect their own boreholes for water, and pay for their own security and sundry social services that government is tasked with providing. However, as tainted as the process through which the tax codes emerged may be, I agree with the position of the Nigeria Employers Consultative Association (NECA). “We cannot continue to run the system the way it was run with a lot of inconsistencies,” said NECA Director General, Smatt-Oyerinde. “No law is perfect, and that is why we have made

FIRS Chairman, Zac Adedeji provisions for amendments.” But the real problem with this administration is that

it has scant regard for transparency and accountability which perhaps also explains why Nigerians still don’t know where their president currently is. Meanwhile, due to the policy choices being made by the Tinubu administration, Nigerians have had to bear unprecedented hardship occasioned by the astronomical cost of goods and services in recent months. We pay several times more at the pump than at any time in history. Electricity tariffs have gone through the roof. And, as I wagered recently, any middle-class professional who doesn’t know the market prices of basic foodstuffs like garri, rice, tomatoes etc. must belong to the Godswill Akpabio exclusive club of those who are “eating”. I have a word for the president. Public expectations of leaders who seek sacrifices from the people are enormous. And no

president in contemporary history has demanded more from Nigerians than Tinubu with the policies he has initiated. Now, with the implementation of the new tax codes, the real issue is whether such a government can continue to live large at public expense. While the whole essence of government is to subordinate the personal convenience of individuals to the imperatives of the common good, the crisis of present-day Nigeria is that there is little in our code of public conduct that encourages moderation or sacrifice. And nobody exemplifies that more than our current president. I therefore hope that as Nigerians embrace a new tax regime today, Tinubu’s new year resolution will be to adopt a different leadership template than the one currently on display. I wish him happy new year wherever he may be in ‘Europe’.

TRIBUTE

Peterside: Visionary of National Transformation

By Chukwumeka Orji

ecember 31 marks not only the eve of a new year, but also the birthday of Dr Dakuku Adolphus Peterside—known as DAP—a public figure whose blend of political instinct and administrative discipline symbolizes leadership in Nigeria: grounded in service, shaped by learning, and focused on results. At 55, Peterside’s path spans professions and institutions, beginning on December 31, 1970, in Biriye, Opobo Kingdom, in Rivers State—an area marked by both oil wealth and vulnerability. Growing up there posed early questions: What does development mean if the basics are missing? Who is responsible when plenty brings little dignity? Why does potential often end in disappointment? Those who knew young Peterside recall resolve and curiosity that sought answers beyond the simple. Moving across different Nigerian cities broadened his view. He learned to see the country as a shared project, reinforcing his conviction that national renewal requires both local loyalty and national imagination. Education shaped Peterside. He finished secondary school at Okrika Grammar School in 1986/87 and studied Medical Laboratory Science at the University of Science and Technology (now Rivers State University), specializing in Haematology and Blood Transfusion. This background built precision, process, and an intolerance for sloppy conclusions—habits that persisted into public life. He returned to Rivers State University to pursue a Master’s degree in Management and later enrolled in a doctoral program at the University of Port Harcourt. Along the way, he broadened his exposure through leadership programmes at institutions including the Harvard Kennedy School, the Kellogg School of Management, the Stanford Graduate School of Business, the Stellenbosch Business School, and the Wharton School. In an era when many treat education as a credential rather than a craft, Peterside’s relationship with learning appears different: learning as a tool for clarity, and as a discipline of responsibility—an insistence that leadership

Dr. Dakuku Peterside

should be prepared for, not improvised. But education alone does not build or reform; it is practice that tests principles— revealed when challenges arise, and power tempts. Peterside entered the political spotlight between 2002 and 2003 as Chairman of the Opobo–Nkoro Local Government Area during the tenure of Dr Peter Odili as Governor of Rivers State, during which he was recognized for implementing initiatives that improved local administration. Later, between 2005 and 2007, he served as Senior Special Assistant on Works to the Governor, contributing to major state infrastructure projects. From 2007 to 2011, he was Commissioner of Works under Governor Rotimi Amaechi—a role that placed him at the intersection where policy meets potholes and demanded practical delivery. In this capacity, he supervised significant road construction efforts and modernized public works processes. In a country where infrastructure is both a technical challenge and a political metaphor, the Ministry of Works is not merely an office; it is a classroom in which leadership learns either the discipline of systems or the habits of excuses. From 2011 to 2015, he represented Andoni–Opobo/Nkoro Constituency in the Federal House of Representatives. Observers say he distinguished himself with

uncommon insight and courage, sponsoring key motions on revenue allocation and transparency. This period sharpened his profile beyond local politics. His interventions on national questions—especially around revenue, governance, and development—cast him as a politician who spoke from the Niger Delta but refused to be imprisoned by regional sentiment. He carried his constituency with pride, yet framed its struggles within Nigeria’s broader crisis of institutional trust and performance. It is one thing to demand justice for your people; it is another to insist, publicly and consistently, that justice must be built into the architecture of the nation, not negotiated only when passions rise. It was perhaps unsurprising, then, that in 2016 he was appointed Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), a position he held until 2020. During his tenure, Peterside initiated reforms that streamlined agency operations and enhanced maritime safety standards. Maritime administration is a demanding arena: technically complex, economically strategic, and crowded with competing interests. In such a space, leadership cannot survive on charm alone. It requires systems thinking, stakeholder discipline, and the steady temperament that can absorb pressure without losing direction—qualities that separate reform

from performance and seriousness from showmanship. Commenting on his roles, Dr Eretimi Tonu called Peterside “one of Nigeria’s foremost public intellectuals and political thought leaders,” highlighting his belief that leadership, rooted in responsibility, can redefine Nigeria. Supporters say Peterside sees public office as a trust to be earned. Engr. Ahmed Ganu argues Peterside’s ideas have enriched public debate and inspired leaders. Ganu notes Peterside remains alert to ordinary Nigerians, advocating for accountable, developmentfocused governance. Yet perhaps the most compelling dimension of this portrait is that it does not rely only on offices held. It leans equally on the life of the mind. Peterside has remained, by temperament and habit, a thinker and a writer—one who believes that Nigeria’s troubles are not only political but also intellectual; that a nation fails repeatedly when it stops interrogating itself honestly. A close observer describes his most recent book, Beneath the Surface, as a powerful collection of essays on Nigeria’s political life—candid in diagnosis, solution-oriented in tone—reinforcing his reputation as a voice that seeks to improve the country not by accident but by design. His commitment goes beyond writing: Peterside mentors younger Nigerians, advises leaders, and coaches executives— quiet acts that help build continuity and national renewal. At home, Dr Peterside is married to Elima Dakuku, a lawyer, and they have three children. His private life is where values are practiced daily, not in front of microphones but through routine responsibility. As December 31 returns, the date prompts reflection on what a life represents. DAP’s story shows a leader who believes institutions can work, insists on accountability, and sees transformation as a sustained effort. Nigeria’s future will be built by purposeful people. At 55, Peterside stands as one of them—youthful in spirit, informed, and committed to national renewal. •Orji, a public affairs analyst, writes from Abuja.

THISDAY • THURSDAY, JANUARY 1, 2026

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INSPECTION OF THE BAYELSA INDEPENDENT POWER PROJECT AT ELEBELE...

L-R: Bayelsa State Commissioner for Information, Orientation and Strategy, Mrs. Ebiuwou Koku Obiyai; Governor of Bayelsa State, Douye Diri; Managing Director, Bayelsa Electricity Company Limited, Olice Kemenanabo; and Project Manager, Jampur Group, Sheriff Abu Anif, during an inspection of the Bayelsa Independent Power Project at PHOTO: OFFICE OF THE GOVERNOR, BAYELSA STATE Elebele, Ogbia Local Government Area, yesterday

OLUSEGUNADENIYI THE VERDICT olusegun.adeniyi@thisdaylive.com

Welcome to 2026 and Happy New Tax!

hile Nigerians are debating which version of the new tax code is authentic and which is fake, President Bola Tinubu—whom we are told is currently in ‘Europe’ (no specific country, similar to the way American Presidents visit ‘Africa’)—released a statement on Tuesday reaffirming that implementation will commence this morning, 1st January 2026. “Our administration is aware of the public discourse surrounding alleged changes to some provisions of the recently enacted tax laws,” the president stated, in what we should consider our new year present from the Villa. “No substantial issue has been established that warrants a disruption of the reform process. Absolute trust is built over time through making the right decisions, not through premature,

administration. I have always argued that with the system creaking beneath us, we cannot begin to fix our country unless we bring to the table the productive capacity of every citizen. So, we need to include more people in the tax net and be more efficient in collection. These, I understand, are what the new laws are all about. But the bit about how ‘absolute trust’ is built in the presidential statement is obviously lost on Tinubu. Otherwise, there would have been no need to play games with the laws passed by the National Assembly which led to the current controversy and necessitated a fresh ‘gazetting’ process. But that is not even the real issue. President Bola Tinubu While we move from an extract and share economy to one funded by taxpayers, reactive measures.” In principle, I endorse the new tax the greater challenge is how we spend

the accrued revenues. I am aware that our structural deficit encourages lack of accountability in a system that was founded on ‘sharing the national cake’. But when we demand responsible citizenship, something has to give. Taking taxes from the people and expending the proceeds on frivolities is no longer tenable. We definitely cannot continue with the kind of debauchery that would make the head of the legislative branch ‘joke’ that he and colleagues will continue to ‘eat’ at public expense. Not with my tax! The phrase, “no taxation without representation” pre-supposes that there can be no effective (and accountable) government without taxation. But in Nigeria, our people Continued on page 39

My Commiseration, Anthony Joshua

orn and raised in the United Kingdom, former World Heavyweight boxing champion, Anthony Joshua, does not have to identify with Nigeria. But he does, to the annoyance of a number of British people. It therefore came as no surprise that following last Sunday’s accident that claimed his friends and left him injured on our shores, some bigots are mocking him. But I am confident that even at this most difficult period in his life, Josuha will demonstrate that Nigerian spirit of resilience in the face of adversity he once spoke about. Seven years ago, Joshua featured in a commercial

for Globacom and said this: “There has always been a big piece of my heart as a Nigerian and I do believe that it is that piece that sets me apart. It always says to me, ‘never give up, dream big’! We come from a nation of warriors and that is why I believe in Glo. We have that same tenacity, that Nigerian fighting spirit that makes us game changers! We are relentless. We don’t just face our challenges; we step into the ring to win again and again and again. If you believe in yourself, there is no limit to what you can achieve. Yeah, I used to be a bricklayer in England but now I am heavyweight champion of the world!” And

then added: “You need strength? Yeah, that comes from the hard knocks that life throws at us. And we are Nigerians, we know all about that. It’s like when we are up against the rope. You don’t stay down; you’ve got to fight. You have to dig deep to be a world champion”. Given his history and professional accomplishments, Anthony Joshua is not only British but a global citizen. Yet, he also chooses to embrace his Nigerian ancestry. That takes character. I commiserate with him over the loss of his friends and wish him speedy recovery. And to the rest of us, Happy new year!

Joshua

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