THURSDAY 23TH JULY 2025

Amid Efforts to Contain Price Pressures, CBN Retains All Monetary Policy Parameters

Keeps MPR at 27.50%, CRR at 50% for deposit money banks, 16% for merchant banks, liquidity ratio at 30%, external reserves hit $40 billion Cardoso confirms 8 banks have fully scaled recapitalisation hurdles, others doubling efforts yesterday resolved to leave the monetary policy parameters, including the Monetary Policy Rate (MPR), the benchmark interest rate, unchanged at current levels. The Monetary Policy Committee (MPC) of CBN, after its two-day meeting, unanimously voted

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Senate Approves Tinubu’s $21.5 Billion Global Loan Request

Emmanuel Addeh and Alex Enumah in Abuja

LAunch Of WOMEn EcOnOMic EMpOWErMEnt (WEE) pOLicy rOAdMAp...

Dangote: Nigeria, Other African Countries

Losing $90bn

Market Opportunities to Continued Fuel Imports

Says international traders frustrating local refining, decries huge port charges NMDPRA, S&P partner for regional petroleum price index Downstream regulator says only 31% of needed fuels refined in West Africa Lokpobiri insists fossil fuels will remain relevant for decades Ojulari pledges to dismantle structural bottlenecks in oil sector

Emmanuel Addeh in Abuja

Africa’s richest man and President of Dangote Industries Limited (DIL), Aliko Dangote, yesterday decried the massive importation of petroleum products by Nigeria and other countries in Sub-Saharan Africa, stating that these African nations continue to lose up to $90 billion market opportunities to Asia, Europe and other continents.

Dangote spoke in Abuja at the Global Commodity Insights Conference on West African Refined Fuel Market, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in partnership with S&P Global, themed: “Creating a West African Reference Market for Oil and Gas Products”.

The meeting signalled the beginning of processes to develop a regional pricing benchmark for refined petroleum products in West Africa, an initiative which aims to create localised indices for products such as petrol, diesel, aviation fuel and liquefied petroleum gas.

In his keynote address tagged: “Building an African Refinery Hub: Prospects and Challenges”, the owner of the world’s largest single train refinery, the 650,000 barrels per day facility located in Lagos, argued that while Africa produces approximately 7 million barrels of crude oil per day, it only

consumes only 4.3 million barrels of that.

Troublingly, Dangote stated that just 40 per cent of that is refined domestically, with most of this production in Algeria and Egypt, and now Nigeria with the start of the Dangote refinery, explaining that in Sub-Saharan Africa, there are no more than three good working refineries.

“To compare, Europe and Asia refine around 95 per cent of their consumption. So, while we produce plenty of crude, we still import over 120 million tonnes of refined petroleum products each year, effectively exporting jobs and importing poverty into our continent. That’s a $90 billion market opportunity being captured by regions with surplus refining capacity.

“To put this in perspective, only about 15 per cent of African countries have a Gross Domestic Product (GDP) greater than $90 billion. We are effectively handing over an entire continent’s economic potential to others—year after year,” he maintained.

Dangote clarified that while he’s not against global trade and he believes in the power of free markets and international collaboration, trade should be rooted in the principles of economic efficiency, comparative advantage, and a fair playing field.

He emphasised that it defies logic and economic sense for Africa to

be exporting raw crude only to re-import refined products, which it is more than capable of producing itself, as it is closer to both source and consumption.

Dangote classified the problems of establishing refineries in Africa into three broad categories , including technical, commercial, and contextual.

In terms of technical challenges, to construct the 650,000 refinery, he stated that the company had to clear 2,735 hectares of land of which 70 per cent was swamp, which was debushed with 65 million cubic metres of sand, including over 250,000 foundation piles of 35

metres length, millions of metres of piping, cabling, and electrical wiring.

At its peak, he said the refinery had over 67,000 people on-site, of which 50,000 were Nigerians, building not only the refinery but also a seaport, because Nigeria’s existing ports were incapable of receiving the over-dimensional and heavy cargo the project required.

With over 2,600 pieces of heavy equipment, over 1,000 vehicles, and 330 cranes of 100 tons, he said the company built the world’s largest granite quarry, capable of producing 10 million tonnes annually—just to supply the stones needed.

“After overcoming the technical challenges, we faced the second major hurdle: commercial viability.

Once the refinery was ready, we proceeded to line up working capital to commence operations. Exchange rates have gone from N156 at inception to N1,600 at completion. The interest rates were exorbitant, but we had no choice.

“One of the first commercial shocks came with crude feedstock sourcing. At the project’s inception, it was reasonable to assume that in a country producing about 2 million barrels per day, securing crude would be the least of our worries. But we were wrong.

“Rather than buying crude oil directly from Nigerian producers at competitive terms, we found ourselves having to negotiate with international trading companies, who were buying Nigerian crude and reselling it to us—with hefty premiums, of course. “As we speak today, we buy 9-10 million barrels of crude monthly from the US and other countries. Even after securing the crude, transporting it became another bottleneck. Lifting schedules were constantly shifted by upstream operators, and we were hit with excessive port and regulatory charges.

UN Sec Gen Guterres Predicts End of Fossil Fuel

The United Nations Secretary General, Antonio Guterres has said the end of fossil fuel has come, stating that the world has started embracing clean energy.

Guterres in a televised broadcast: “A Moment of Opportunity: Supercharging the Clean Energy Age,” said: “The headlines are dominated by a world in trouble. By conflict and climate chaos. By rising human suffering. By growing geo-political divides. But amidst

the turmoil, another story is being written. And its implications will be profound.

“Throughout history, energy has shaped the destiny of humankind – from mastering fire, to harnessing steam, to splitting the atom. Now, we are on the cusp of a new era. Fossil fuels are running out of road. The sun is rising on a clean energy age.

“Just follow the money $2 trillion went into clean energy last year –that’s $800 billion more than fossil fuels, and up almost 70% in ten years.

Women Empowerment: Lagos Unveils Roadmap to Break Barriers Hindering Development

Segun James Lagos State Government yesterday unveiled a roadmap designed to break the barriers hindering the development of women in the state. The governor, Mr Babajide Sanwo-Olu, disclosed this at the launch of Lagos State Women Economic Empowerment (WEE) policy at Muson Centre, Lagos. Sanwo-Olu said at the heart of the roadmap were five key pillars of agriculture, entrepreneurship, traditional labour market, emerging industries, and education and skill acquisition.

He said through those pillars the policy sought to bridge existing gender gaps, strengthen financial inclusion,

promote digital and technological equity, and advance women’s leadership in critical sectors. Lagos State is the second, after Kaduna State, to domesticate the national policy.

Lagos State WEE Policy Roadmap was developed by the Ministry of Women Affairs and Poverty Alleviation as a strategic, forward-thinking framework designed to address the systemic challenges faced by womenfolk.

Sanwo-Olu said at the launch, “It gives me great pleasure to join you today at the official launch of the Lagos State Women Economic Empowerment (WEE) Policy Roadmap, an initiative that reflects our administration’s

unwavering commitment to gender equity and inclusive economic growth.

“Lagos State, as we know, is Nigeria’s economic powerhouse, teeming with opportunities across various sectors. However, despite our economic vibrancy, women, who constitute nearly half of our population, continue to face substantial barriers in education, skill acquisition, access to finance, and participation in both traditional and emerging industries, including agriculture and technology.”

The governor stated, “Today’s event marks a pivotal step in changing that narrative.

“This roadmap aligns not only with our state’s developmental

agenda but also with national policy frameworks and global commitments such as the Sustainable Development Goals (SDGs).

“It also proposes innovative solutions that challenge socio-cultural barriers and implement genderresponsive governance based on data-driven strategies.

“This participatory approach helped shape a contextual and inclusive understanding of who a woman is in Lagos State: a woman is not only defined by her biology but also by her social, cultural, and economic realities. Her aspirations and challenges, from youth to old age, must be central to the policies we design.”

“And new data released today from the International Renewable Energy Agency shows that solar –not so long ago four times the cost of fossil fuels – is now 41% cheaper.

Offshore wind – 53%. And over 90% of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

“This is not just a shift in power.

It is a shift in possibility. Yes, in repairing our relationship with the climate. Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

“But this transformation is fundamentally about energy security and people’s security.

“It’s about smart economics.

Decent jobs, public health, advancing the Sustainable Development Goals. And delivering clean and affordable energy to everyone, everywhere.

“Today, we are releasing a special report with the support of UN agencies and partners - the International Energy Agency, the IMF, IRENA, the OECD and the World Bank.

The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution.

“And it highlights the vast benefits – and actions needed – to accelerate a just transition globally. Renewables already nearly match fossil fuels in global installed power capacity. And that’s just the beginning.

“Last year, almost all the new

power capacity built came from renewables. Every continent on Earth added more renewables capacity than fossil fuels.

“And renewables generated almost a third of global electricity. The clean energy future is no longer a promise. It’s a fact. No government. No industry. No special interest can stop it.”

Gutteres added: “Of course, the fossil fuel lobby will try – and we know the lengths to which they will go. But I have never been more confident that they will fail – because we have passed the point of no return.”

He explained there are three powerful reasons; which are market economics as number one, stating that: “For decades, emissions and economic growth rose together,” but: “No more in many advanced economies, emissions have peaked, but growth continues.

“In 2023 alone, clean energy sectors drove 10% of global GDP growth. In India, 5%. The United States, 6%. China – a leader in the energy transition – 20%. And in the European Union, nearly 33%.

“And clean energy sector jobs now outnumber fossil fuel jobs –employing almost 35 million people worldwide. Even Texas – the heart of the American fossil fuel industry – now leads the US in renewables.” He noted that “it makes economic sense. And yet fossil fuels still enjoy a 9 to 1 advantage in consumption subsidies globally – a clear market distortion.

Michael Olugbode in Abuja

L-R: Wife of Lagos State Deputy Governor, Mrs. Oluremi Hamzat; Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu; Commissioner for Women Affairs and Poverty Alleviation, Mrs Bolaji Dada; member, Lagos State House of Assembly, Princess Omolara Oyekan-Olumegbon and representative of Minister of Women Affairs, Mrs. Agnes Abraham, during the official launch of Women Economic Empowerment (WEE) Policy roadmap in Lagos State, at the Muson Centre, Onikan ... yesterday

PRESTIGIOUS POWER OF 100 AFRICA WOMEN AWARD FROM ACCESS BANK GROUP...

L-R: Mrs. Genrose Tabaro (Non-Executive Director), Dr. Janet Lekashingo (Non-Executive Director), Mr. Protase Ishengoma (Board Chairman), President Samia Suluhu Hassan, Mr. John Imani (Managing Director), Dr. Hassan Abdullahi (Deputy Managing Director), and Mr. Abdulrahman Nkondo (Head, Public Sector), after the President received the prestigious Power of 100 Africa Women Award from Access Bank Group…recently

Wale Edun: Nigeria Loses $15bn Annually to Profitshifting, Adverse Tax Practices by Multinationals

Adedeji declares illicit financial flows threaten fiscal stability

James Emejo in Abuja

Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, yesterday disclosed that the country loses about $15 billion annually to profit-shifting and adverse tax avoidance practices, especially by some multinational corporations transacting in the country. Profit shifting is when multinational companies reduce their tax burden by moving the location of their profits from high-tax countries to low-tax jurisdictions and tax havens.

Speaking at the opening of the national conference on Illicit Financial Flows (IFFs) with the theme, “Combating Illicit Financial Flows: Strengthening Nigeria’s Domestic

Resource Mobilisation” in Abuja, the minister said huge sums of money are moved out of the country, robbing the country of resources that could be used to finance the much-needed public services.

This comes as Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, described IFFs as one of the most critical challenges threatening Nigeria’s fiscal stability, calling for urgent action to safeguard national resources, and build a resilient, equitable future.

However, the minister said these adverse tax transactions had resulted in fewer hospitals, schools, roads, and bridges, and police officers on the streets as well as undermined jobs creation and poverty eradication.

Represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, Edun however, pointed out that the country, under President Bola Tinubu, is undergoing strategic fiscal reforms aimed at building a resilient, self-reliant economy driven by revenue and not by debt or by grants.

He said IFFs remained a critical issue and one of the most urgent challenges currently facing the country, and continues to undermine the country’s development efforts as well as undermine economic sovereignty.

Stressing the need to protect and retain wealth generated within borders, he said illicit financial flows are the “in-between pipes of our national wealth”.

Edun said, “They undermine

revenue generation, erode tax bases, promote corruption, and reduce the resources available for critical investments in health, education, infrastructure, and social protection.

“This gathering reflects a growing recognition that illicit financial flows are not just a technical problem, they are a political problem, a developmental problem, and a national security concern.

“Illicit financial flows is a hydra- headed monster about to be evacuated and it takes various forms, from terrorist financing to corporate tax evasions. And since we are here at an event organized by the tax plan, we will focus our efforts and our attention on conversations around tax avoidance and tax evasion.”

NEXIM Bank, SMEDAN Seal Deal to Boost SMEs’ Growth

Nigerian Export-Import Bank (NEXIM) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a landmark Memorandum of Understanding (MoU) to accelerate the growth of small and medium enterprises (SMEs) across Nigeria. According to a statement yesterday, the objective of the MoU is to establish a strategic partnership between SMEDAN and NEXIM Bank to facilitate accelerated growth of small businesses in Nigeria through the development of export financing programmes, capacity building and training, creating customised financial products, promoting MSME products in the global stage, and streamlining trade facilitation services.

The strategic partnership further aims to establish a framework for collaboration by focusing on strengthening Nigeria’s non-oil export sector, thereby aligning with the federal government’s broader agenda to diversify the economy and promote inclusive growth through strategic partnerships and private sector engagement.

Speaking at the signing ceremony, Managing Director/CEO of NEXIM Bank, Abba Bello, emphasised the importance of the partnership.

Bello said, “This collaboration with SMEDAN is a critical step in our mission to empower Nigerian SMEs to become globally competitive. By combining our financial instruments with SMEDAN’s development expertise, we are creating a comprehensive support system for small businesses to thrive

in the export space, particularly within the regional market to take advantage of the African Continental Free Trade Agreement (AfCFTA).”

Director-General of SMEDAN, Charles Odii, stated, “Our goal is to ensure that Nigerian SMEs are not only equipped with the right skills but also have access to the financial support they need to upscale their businesses.

“This MoU with NEXIM Bank will open new doors for small businesses to participate meaningfully in international trade.

“Essentially, this MOU will focus on: providing accessible funding solutions tailored to the needs of export-ready SMEs, delivering training and advisory services to enhance business competitiveness and compliance with international standards, simplify processes and

House Finance Committee Approves

N105.14 Billion Budget

Juliet Akoje in Abuja

The House of Representatives Committee on Finance has approved the 2025 budget proposal of N105.14 billion for operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

The budget approval took place during a budget defense session held in Abuja on Tuesday, where RMAFC’s management team, led by its Chairman, Mr. Mohammed Shehu, appeared before the committee. While presenting the budget

breakdown, Mr. Shehu explained that N20.6 billion was allocated for personnel costs, and N8.9 billion was designated for overhead expenses.

He further stated that a substantial N75.5 billion - equivalent to 71.8% of the total budget was earmarked for capital expenditure.

Mr. Shehu also used the opportunity to commend the committee for its recent role in amending the RMAFC Act, noting that the reform has enhanced the commission’s operational capacity.

The Committee Chairman, Hon.

James Faleke (APC-Lagos), affirmed that the committee had thoroughly reviewed the proposed budget and found the estimates satisfactory.

He added that the committee would, through its oversight mandate, monitor the implementation of the budget to ensure it is carried out in full.

Faleke noted the National Assembly would commence its annual recess later in the week.

Upon resumption, he said the committee expects to see between 30% to 40% of the budget already implemented.

reduce barriers to entry for small businesses in the export value chain.”

NEXIM, which is wholly owned by the federal government, was established by Act 38 of 1991 as an Export Credit Agency (ECA) and Export Development Bank. Its mandate is to provide finance, risk bearing and advisory services to duly registered companies in Nigeria towards the expansion, diversification and development of the non-oil export sector in furtherance of increased foreign exchange earnings, jobs creation, and rapid economic development of the country.

The minister further noted that Nigeria had heavily relied on oil revenue which had been volatile and unsustainable, adding that the current reforms recognised the urgent need to diversify the revenue base, shifting focus on oil and non-oil resources, particularly tax revenue.

He said by strengthening tax systems, the government seeks to create a more inclusive and accountable fiscal framework, one capable of funding national development, reducing debt dependency, and ensuring that all sectors contribute their inclination to it.

Edun further stressed that the recent accents to the four landmark tax reform bills by the President was unprecedented and marked a significant step forward in realising the government’s vision.

He said these laws aimed to simplify the tax system, remove vacancies, and improve tax payers’ confidence.

He said, “But you will all agree with me that laws alone are not enough, and that is why we are gathered here to align policy, enforcement, and institutional efforts across the board...”

In his remarks, Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, described IFFs as one of the most critical challenges facing the economy, and stressed the urgent need to safeguard national resources, and build a resilient, equitable future.

Adedeji said illicit financial flows through tax evasion, profit shifting, money laundering, and trade misinvoicing do not merely represent financial wrongdoing but constitute structural drain on the economy, and depriving government the resources needed for inclusive development.

He said, “Each unaccounted dollar undermines governance, erodes trust,

and translates into lost infrastructure, inadequate public services, and deepening inequality.

“The scale of these flows, especially through aggressive tax avoidance by multinationals exploiting opaque global arrangements, continues to threaten Nigeria’s fiscal stability.

“Like many other resourceconstrained nations, we lose billions annually through these illicit conduits—making this conference not just a policy dialogue, but a national imperative. Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, we have entered a new era of fiscal reform.”

The FIRS chairman emphasised that the current tax reforms efforts signals the present administration’s strong commitment to overhauling our tax system, modernising the legal framework, and institutionalising transparency in revenue collection. He said, “But legal reform is only a starting point. To deliver on its promise, we must reinforce enforcement, optimise digital compliance, and build public trust through fairness, predictability, and strategic communication.

“At the Federal Inland Revenue Service, we are responding with a deliberate, multidimensional strategy. First, we are championing voluntary compliance by promoting taxpayer education and simplifying systems. Our goal is to foster a culture where compliance is driven by trust, not fear.”

In her keynote address, Member of Mbeki High Level Panel on Illicit Financial Flows, Hon. Irene Ovonji-Odida, said the global economic system plays a core role in the ‘underdevelopment’ of Africa via governance of its pillars that included trade, debt, banking, finance, taxation among others.

As CMOTD trains 305 students on ship building, automation, others

Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a Centre for Marine and Offshore Technology Development (CMOTD) in Rivers State.

NCDMB was established to promote the growth of Nigerian content in the oil and gas industry. It is responsible for implementing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which aims to increase local participation in the sector.

The Centre for Marine and Offshore Technology Development forms a Public Private Partnership (PPP) to promote the growth and

adoption of marine and offshore technologies, research, and training under the NOGICD Act.

The centre is dedicated to training and developing personnel for the marine and offshore industries. It also offers programmes designed to equip graduates with the skills and knowledge needed for the offshore oil and gas sector and related fields.

Unveiling the facility, which had already commenced the training of about 305 students, at the premises of the Rivers State University, Port Harcourt, yesterday, Executive Secretary of NCDMB, Mr. Felix Ogbe, highlighted the benefits of the centre in human capacity and

nation building. Ogbe, who was led round the facility by Vice Chancellor of the university, Professor Isaac Zeb-Obipi, and management of CMOTD, said NCDMB, through its various units and initiatives, collaborated with CMOTD to ensure that Nigerian content principles were implemented and advanced in the marine and offshore technology sector.

Speaking with journalists at the event, Chief Executive Officer of CMOTD, Mr. Vitalis Ahiakwo, said the centre was established with the objective of closing the gaps within the oil and gas industry and blue economy.

Blessing Ibunge in Port Harcourt

Oluchi Chibuzor

AFRICAN DEMOCRACY ON THEIR MINDS...

Tinubu Gives First Quarter 2026 Deadline for Take-off of National Single Window Project

Deji Elumoye in Abuja

President Bola Tinubu has directed the National Single Window (NSW) Steering Committee to ensure that the platform becomes fully operational by the first quarter of 2026.

The directive was delivered yesterday during the fifth steering committee meeting at State House, Abuja, by Chief of Staff (CoS) to the President, Hon. Femi Gbajabiamila.

Gbajabiamila urged all agencies to refine their targets and Key Performance Indicators (KPIs) to meet the Phase 1 deadline.

He stated, “I do expect that since the last meeting of the steering committee, which was held on the 8th April, 2025, all stakeholders have operated and actively progressed with all the required KPIs and set targets to ensure that we go live with phase 1 in Q1 2026 as was previously scheduled.”

Gbajabiamila said the recent Tax Reform Acts, signed into law in June, underscored the urgency of accelerating reforms and pursuing Nigeria’s $1 trillion economy target.

He highlighted the importance of financial and trade reforms in achieving national economic transformation.

According to the CoS, “It’s important that we continue to stay focused on this project, so that at the end of the day, we meet our timelines and achieve the results the president expects.

“As you all are aware, the project is one of the transformative initiatives of Mr. President, which we collectively must ensure is effectively and commendably implemented.”

Gbajabiamila emphasised the role of a unified electronic platform in simplifying Nigeria’s import and export operations.

According to him, the NSW will boost investment and trade revenues, improve transparency, and strengthen Nigeria’s global business credibility.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the progress as encouraging, but stressed the need for swift execution.

Edun urged a shift from strategy to concrete implementation, calling the project complex but transformational.

He advised the committee to improve collaboration and resolve final hurdles to meet the rollout timeline.

Minister of Industry, Trade and Investment, Jumoke Oduwole, charged the committee to work diligently and meet the Q1 2026 deadline without fail.

Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, thanked the president for consistently supporting the project.

Adedeji said, “Thank you on behalf of the steering committee. We thank you for the relentless support that you have given to us.

“And to all my colleagues here,

we can see that the reward for hard work is more work. When we started last month, it is now law; the single window is now in the law.”

He asked committee members to stay focused on the mission ahead.

Director of National Single Window (NSW) project, Tola Fakolade, gave a brief overview of the steering committee’s progress

Ezigbo

In a bid to fast-track the elimination of paediatric HIV, the federal government on Tuesday launched two national policy documents in Abuja.

First Lady, Senator Oluremi Tinubu, unveiled the policy guidelines at the National HIV Health Sector Symposium held at Abuja Continental Hotel.

The event, themed, “Advancing PMTCT and Paediatric HIV Coverage in Nigeria,” brought together key stakeholders in the health sector to assess progress, address existing gaps, while mobilising efforts towards eliminating mother-to-child transmission (PMTCT) of HIV in the country

The first lady, represented by Minister of Women Affairs, Hajiya Imaan Suleiman-Ibrahim, restated the government’s commitment to

safeguarding maternal and child health.

She described the launch of the national policy documents as a milestone in Nigeria’s journey to end paediatric HIV, emphasising the importance of integrating prevention, early diagnosis, and treatment in routine maternal and child healthcare services.

In his keynote address on behalf of the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, reaffirmed Nigeria’s unwavering commitment to the fight against HIV/AIDS. Salako, who also represented Pate at the symposium, stated that Nigeria was making steady progress in PMTCT and paediatric HIV coverage, but more remained to be done.

towards implementing the project.

Fakolade said, “All second quarter 2025 key project milestones have been successfully achieved. And the customisation of the single window platform has commenced.”

He gave assurances that the committee would meet up with the timelines.

The National Single Window

project is a Federal Government initiative to streamline trade processes by creating a centralised electronic platform for importers and exporters. It is a digital trade facilitation platform expected to accelerate economic growth and facilitate cross-border transactions.

Launched in April 2024, NSW seeks to consolidate all agencies

involved in imports and exports onto a unified electronic portal. It is expected to reduce trade costs, cut delays, and enhance transparency and efficiency at Nigerian ports. Committee members included representatives of the Ministry of Trade and Investments, Ministry of Finance, FIRS, and Nigeria Customs Service.

Lafarge Africa Delivers Record Revenue of N269 Billion in Q2

Operating profit up 153 percent, profit after tax surges to N84.03 billion

Lafarge Africa Plc, a leading innovative and sustainable building solutions company and producer of a range of cement brands, has recorded a sales revenue of N268.63 billion for the second quarter of the 2025 financial year.

A press statement dated July 21, 2025, from the Corporate Affairs Office of the cement manufacturers indicated that sales revenue represents a 70 percent increase from N157.80 billion that was recorded in the corresponding period in 2024.

A breakdown analysis of the

unaudited result revealed that operating profit for the company in the second quarter of the financial year also grew from N47.70 billion in the corresponding period in 2024 to N120.61 billion, representing a 153 percent significant increase.

The rise in operating profit was largely due to topline growth and operational efficiency of the company.

According to the provisional results released by NGX, Profit After Tax, PAT, for the second quarter rose by 248 percent from N24.16 billion in 2024 to N84.03 billion in the corresponding period in 2025.

This rise could be attributed to strong Operational Performance, relative stability of the Naira with no significant FX losses.

The Chief Executive Officer, Lafarge Africa, Lolu Alade-Akinyemi, in a statement, explained the ex-

He cited recent achievements, including a rise in PMTCT coverage to 66 per cent, early infant diagnosis to 57 per cent, and paediatric anti-retroviral therapy (ART) coverage from 29 per cent to 74 per cent as of 2024.

Salako stated, “Despite these improvements, Nigeria still records more than 9,000 new paediatric HIV infections annually. This is a clear indication that we must intensify efforts. The state of emergency on PMTCT remains in effect until no Nigerian child is born with HIV.”

He acknowledged President Bola Tinubu’s leadership in securing a $200 million emergency allocation for HIV, Malaria, and Tuberculosis in response to global funding cuts, describing it as a testament to the government’s commitment to sustainable financing and local ownership of health programmes.

ceptional performance recorded by the company in Q2 was driven by innovative product offerings, strategic operation and distribution efficiency.

“Following our impressive Q1 results, Q2 performance showcases the strength of our team, market positioning, operational efficiency, cost management, and dedication to value creation.

“We achieved excellent financial results in Q2, with Net Sales growth of 70 percent, Operating Profit up 153 percent, and PAT growth of 248 percent.

“This strong performance closes H1 with a sales and operating profit growth of 75 percent and 144 percent respectively. This performance is driven by our innovative product offerings and strategic operational Initiatives,” Alade-Akinyemi said.

He noted the company remains

mindful of the ever-evolving macroeconomic conditions, and is confident to continue to deliver value by focusing on its strategic priorities, while leveraging innovation and green growth, in line with its sustainability ambitions.

“I am deeply grateful to our exceptional team, valued customers, and loyal stakeholders for their unwavering contributions and support of Lafarge Africa.

“Despite the challenging macroeconomic environment, your commitment continues to inspire us and strengthen our confidence in the future,” he added. He disclosed that despite challenges posed by macroeconomic activities on purchasing power, the building industry is projected to sustain its growth trajectory with the company reaping the benefits.

Declare Any Currency Exceeding $10,000 Upon Arrival in Nigeria, NCAA Tells Inbound Passengers

Kasim Sumaina in Abuja

Nigeria Civil Aviation Authority (NCAA), Tuesday, reminded all international airlines operating inbound flights to Nigeria to strictly comply with the directive concerning currency declaration requirements for inbound passengers. NCAA said this was in line with Nigeria’s ongoing efforts to strengthen its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

A statement issued by Director, Public Affairs and Consumer Protection, NCAA, Michael Achimugu, said in accordance with international

standards and obligations, NCAA reiterated the following directives to all international airlines, “Make inflight or pre-landing announcements informing passengers of their legal obligation to declare any currency or Bearer Negotiable Instruments (BNI) exceeding $10,000 USD or its equivalent upon arrival in Nigeria.” It added that inbound international airlines should also distribute currency declaration forms on-board for passengers to complete before landing.

NCAA hinted that it had received reports indicating that

some airlines were yet to comply with the directive. The statement read, “Please note that the cooperation of all international airlines operating in Nigeria is critical to supporting the country’s efforts to align with global financial standards.

“Accordingly, the Authority emphasises that full implementation of this directive – particularly as it concerns inbound passenger declarations – is of utmost importance.” NCAA said compliance will be closely monitored, and non-compliant airlines will face appropriate sanctions.

Bassey Inyang in Calabar

L-R: Keynote Speaker, Mr. Patrick Lumumba; Convener of International Conference on Africa Democracy, Mr. Chris Iyana; and former Prime Minister of Kenya, Mr. Raila Odinga, during the International Conference on Africa Democracy 2025 in Abuja, yesterday

PHOTO: KINGSLEY ADEBOYE

Onyebuchi

in Abuja

Aligning with THISDAY’s Story, SEC Seeks More Information About FirstHoldCo’s Shares Transaction

Emmanuel Addeh in Abuja Securities and Exchange Commission (SEC) has begun investigation into the circumstances surrounding the “mystery buyer” of First Bank of Nigeria (FBN) stake, a development that aligns with THISDAY’s position on the matter. This is coming a week after tycoons, Foluke Oyeleye and Ayoola Otudeko, sold their stake in the ownership of Nigeria’s oldest bank, as the identity of the new investor remained under wraps, spurring queries by the market regulator and investors, a Bloomberg news report said yesterday.

SEC is the primary regulator of the capital market and its main role is to protect investors, ensure fair and orderly market practices, and promote confidence in the financial system.

Bloomberg reported that Barbican Capital Ltd., managed by Oyeleye and Otudeko, and other investors sold about 25 per cent of First HoldCo Plc, the parent company of First Bank of Nigeria Limited, on July 16, according to data provided by SEC. While the shares were being held by RC Investment Management Ltd., a special purpose vehicle, the name of the beneficial owner was unknown, the Bloomberg report said. The situation had now prompted SEC to seek more details from the Central Bank of Nigeria (CBN), the market regulator said in an emailed response to Bloomberg.

THISDAY had earlier raised posers over the issue, when it said First HoldCo Plc, in its latest market action, an off-market sale of 10.4 billion shares valued at N324.47

billion on Wednesday July 16, 2025, had brazenly affronted Laws and Regulations of the Federal Republic of Nigeria put in place for good governance and transparency.

It listed several alleged breaches by the bank, expressing concerns over apparent moves by First HoldCo Plc to intimidate THISDAY and Arise Media groups via a sponsored post

Sen AT e A PP rove S T I nubu’ S $21.5 bI ll I on g lob A l lo A n r eque ST Sunday Aborisade in Abuja

In a major move to tackle Nigeria’s growing infrastructure deficit and pension liabilities, the Senate on Tuesday approved President Bola Tinubu’s comprehensive borrowing plan for the 2025-2026 fiscal period.

The plan included a combined external loan package of $21.5 billion, €2.2 billion, and 15 billion Japanese Yen, as well as a €65 million grant.

in several Nigerian newspapers.

“Any person acquiring five per cent or more of a listed company’s shares (directly or indirectly) must be disclosed. Disclosure must include: identity of the beneficial owner; shareholding category (e.g., director, substantial shareholder, insider); and whether the holding is direct or via a trustee/nominee,” THISDAY and Arise editors stated.

Given the size of the sale, “This transaction must have been endorsed” by CBN, said Kato Mukuru, founding partner at London-based Emerging & Frontier Capital LLP.

“If that is the case, why have minority investors not been told who the beneficial owner of this controlling stake is?” Mukuru asked.

The central bank did not immediately respond to queries seeking comment by Bloomberg.

First HoldCo had attracted investor attention in the past, the report said. Some former board members and key shareholders, including Oba Otudeko, ex-Chairman Tunde Hassan-Odukale, and Femi Otedola, the current one, had sought to buy stakes in the firm. Otedola outbid the others to emerge as a key stakeholder and was appointed chairman in 2024. The absence of disclosure prompted speculation that the government was behind the purchase, which President Bola Tinubu’s administration denied. Shares of the owner of the lender established in 1894, fell three per cent on Tuesday in Lagos, the report added. “The market also needs to know what this means for the bank’s future strategic direction and its capital structure,” Mukuru said.

The red chamber said the approval was to bring relief to thousands of retirees affected by payment delays.

The Senate maintained that the foreign borrowing plan and domestic bond issuance were key components of the 2025–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), documents that outline Nigeria’s fiscal direction for the coming years. Chairman of Senate Committee

Additionally, the Senate endorsed a N757.98 billion domestic bond issuance to settle outstanding liabilities under the Contributory Pension Scheme (CPS), some of which date back to December 2023.

P&ID: I H Ave ST ruggle D To Acce PT W HAT

Speaking at the Roebuck Lecture at the Chartered Institute of Arbitrators (CIA), Knowles observed that he struggled to accept what happened, especially when it came to the calculation of damages.

Knowles had in a judgment in Nigeria’s appeal overturned the $11 billion award in favour of P&ID by a London Arbitration in 2017.

Although, a three-member arbitration in 2017 found Nigeria guilty of contract breach and awarded the sum of $6.6 billion in favour of P&ID, the judgment debt accrued to $11 billion, with moves to seize Nigeria’s assets abroad to enforce the judgment debt.

However, following an appeal by Nigeria, Knowles set aside the $11 billion judgment debts on the grounds of fraud and corruption surrounding the contract in the first place, a development that gave much relief to Africa’s most populous nation.

Speaking at the Roebuck lecture, Knowles raised some of the challenges associated with the proceedings and suggested what arbitrations should do in future circumstances. His position was published on July 11, by Chief Correspondent and Editor at Large of Global Arbitration Review, Alison Ross.

The judge reflected more generally on the problems of “vast” claims and awards in international arbitration, highlighting how failures by Nigeria’s lawyers and experts meant potentially valid challenges to the amount of damages sought by P&ID were not raised.

Besides, he said that interest was calculated based on unreal scenarios, noting that the tribunal did not do enough to make up for the incompetence of Nigeria’s legal team and elicit the arguments needed to reach a more suitable figure.

In addition, the judge posited that vast awards lead to major enforcement disputes, encourage more parties to pursue vast claims and prevent access to justice because they act as a barrier to the healthy development of commercial arbitration funding.

He said: “They can make a dispute, where the claim is meritorious, harder to settle because expectations are set high, or can force settlement where the claim is weak because the respondent cannot take the risk of having to pay. They create uncertainty as to the likely outcome of proceedings and have an impact on the reputation of arbitration and user confidence in the process.

“A single vast award can cause harm to a business, its investors and workers or to an entire economy. The original $6.6 billion award in P&ID vs Nigeria was a multiple of the size of the health and education budgets of Nigeria and one quarter of the entire budget for the entire nation.

“It affected not just the government of the day but a community of people, young and old, poor and better off, well and unwell”, the judge pointed out.

He explained that it could be more serious if the regulation in question is “essential” to global efforts to combat modern slavery, pollution or climate change.

“Cases such as P&ID vs Nigeria make us consider whether we can do better than discounted cash flow as a method for calculating prospective losses after the repudiation of a contract”, he added.

The judge in his lengthy discussion of P&ID v Nigeria, focused not on the fraud and corruption in the case that led to his setting aside of

Liquidity Ratio unchanged at 30 per cent.

Addressing journalists after the MPC meeting in Abuja, Governor of CBN, Mr. Olayemi Cardoso, said the decision to hold policy rate was premised on the need to sustain the momentum of disinflation and sufficiently contain price pressures.

Cardoso said maintaining the current policy stance will continue to address the existing and emerging inflationary pressure. He added that MPC will continue to undertake rigorous assessment of economic conditions, price development, and outlook to inform future policy decisions.

He stressed that given the persistent uncertainty in the policy environment and underlying price pressures, monetary policy will need to maintain its current stance until risks to inflation receded sufficiently.

The central bank governor reaffirmed the bank’s commitment to price stability mandate, stating that it would take appropriate measures to foster stability and confidence in the economy.

He said the apex bank will continue to assess developments to guide informed monetary policy decisions.

Cardoso also disclosed that the country’s external reserved had increased to about $40 billion as of July 18, 2025, representing about 9.5

on Local and Foreign Debts, Senator Aliyu Wamakko, presented the report that underpinned the approval. Wamakko confirmed that the proposed external loans were mostly concessional, offered at low interest rates and long repayment terms, designed to support the country’s critical sectors without overly burdening public finances.

Tinubu, in his correspondence to the National Assembly, described the loans as essential for driving growth across vital sectors, including power, transport, health, education,

the award, but on the approach adopted in the award of damages.

Knowles noted that when the arbitration began, P&ID’s own on-the-record estimate of its loss was $1.992 billion, but that in the end, it was pressing for a figure three times higher.

In approaching damages, he said the majority of the tribunal composed of Lord Hoffmann and Anthony Evans, had reasoned that if the contract had been performed, P&ID would have received an income from the sale of natural gas liquids extracted from the government-supplied wet gas for 20 years.

To achieve that, it would first have had to raise the necessary capital to acquire the site and construct the gas processing facilities. It would also have spent money operating the plant, he reasoned.

“The tribunal went on to hold that P&ID’s loss was the value of “the stream of net profit” the company would have made if the government performed the contract

months of import cover for goods.

Cardoso, who read the committee’s communique, acknowledged the decline in headline inflation in June, the third consecutive month of deceleration. He stated that this was largely driven by the moderation in energy prices and stability in the foreign exchange market.

Cardoso said despite the positive developments, the committee observed the uptick in month-onmonth headline inflation, suggesting the persistence of underlying price pressures.

The CBN governor pointed out that the continued global uncertainties associated with the tariff wars and geopolitical tensions could further exacerbate supply chain disruption and exert pressure on the prices of imported items.

He observed the continued stability in the banking system, evidenced by the stable Financial Soundness Indicators (FSIs), which would further be supported by the on-going banking recapitalisation exercise.

He affirmed that eight banks had fully met the current recapitalisation requirements, while others were making progress towards meeting the March 31, 2026 deadline.

Cardoso said a lot of international investors had continued to show interest in investing in the Nigerian banking sector as confidence

water, and agriculture.

He highlighted the urgency of addressing the country’s massive infrastructure shortfall, especially following the removal of fuel subsidies, which had strained government revenues and increased pressure on citizens.

“In light of the significant infrastructure deficit in the country and the paucity of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the

according to its terms, as estimated by experts at the time of the breach, with an appropriate discount for the fact that it would be awarded immediate payment rather than payment over 20 years.

“That approach, and the expert evidence, led the tribunal to the figure of $6.6 billion, eclipsing...the health and education budgets...for 200 million people”, Knowles was quoted to have stated.

Looking at the overall amount awarded, he said it “would and could never have been received” in one go by a party through commercial activities.

Speaking on the competence of witnesses, the judge observed Nigeria’s experts’ ignorance of “the factual evidence in the case”, as set out in statements from P&ID’s founder, Michael Quinn.

“In oral evidence, the expert said there were forecasts available online that contradicted the future policy

Continued on page 37

continued to grow in the economy.

However, the MPC urged the CBN to sustain its oversight of the banking system to ensure continued resilience, safety, and soundness of the financial system.

Cardoso said the committee acknowledged the efforts of the federal government in improving security and its impact on food production, and further urged the government to continue its support towards timely provision of high-yield seedlings, fertilisers, and other critical inputs for the current farming season.

The MPC also observed the sustained stability in the foreign exchange market, accentuated by improved capital flows, earnings from increased crude oil production, rising non-oil exports, and significant reduction in aggregate imports.

The CBN governor pointed out that recent data on the Purchasing Managers Index (PMI) indicated that the Nigerian economy remained on an expansionary path. He said the external sector also remained stable and resilient, despite persisting uncertainties in the global macroeconomic environment.

He stated, “However, recent developments, especially the persistent tariff war and geopolitical tensions, may continue to disrupt

financial shortfall,” Tinubu stated.

A standout element of the approved measures is the new $2 billion Foreign Currency Denominated Issuance Programme in the domestic debt market.

Enabled by Presidential Executive Order No. 16 of 2023, the programme is designed to allow the government to raise foreign currency from within Nigeria rather than from international creditors.

According to the Senate, this initiative can deepen the domestic capital market, attract foreign investors, and reduce pressure on Nigeria’s foreign reserves.

The funds from the programme will be ring-fenced and invested in strategic projects, such as energy, transportation, and digital infrastructure.

The initiative aims to tap into the vast foreign currency liquidity within the country, from private sector players, diaspora remittances, and foreign businesses operating in Nigeria, while offering a return on investment to participants.

“The initiative provides an alternative to external borrowing, reduces pressure on foreign reserves, and allows investors to earn returns on their dollar holdings while contributing to national development,” the senate committee stated.

Equally critical is the Senate’s approval of Tinubu’s request to issue nearly N758 billion in bonds to clear pension arrears under the CPS.

The federal government had struggled to fulfil its pension obligations due to persistent revenue shortfalls, leading to widespread hardship among retirees.

The move, which aligns with the

supply chains and exert upward pressure on the prices of imports.

“Disinflation in the advanced economies has slowed, prompting major central banks to be cautious of upside risks to inflation. In the emerging markets, central banks continue to calibrate monetary policy to their domestic conditions, noting the persisting risks to inflationary pressures.”

Cardoso said CBN staff projections indicated a further decline in inflation in the coming months, underpinned by the current tight monetary policy stance, stable exchange rate, declining PMS prices, and moderation in food prices as the harvest season approached.

Addressing questions from journalists about the temporary regulatory forbearance granted some banks as well as the recapitalisation demands, Cardoso said, “With respect to forbearances that you refer to, they are all temporary ones, and really and truly are in line with Basel requirements all over the world. It’s nothing that is unique to Nigeria, absolutely not unique to Nigeria; that we’ve asked some of the banks to ensure that the provisioning strategies are in line with what should help them to create the buffers to ensure that dividends are not paid and that investments are kept in appearance for a certain period of time.

provisions of the Pension Reform Act (PRA) of 2014, is intended to restore public trust in Nigeria’s pension system.

According to Tinubu’s letter to the Senate, the Federal Executive Council (FEC) had already approved the bond issuance in February 2025.

“The bond issuance will cushion the hardship of retirees, restore trust in the pension system, and stimulate liquidity in the domestic market,” the senate committee report stated.

The president stressed that the measure would significantly improve the welfare of retirees by enabling them to meet basic needs, access healthcare, and avoid unnecessary hardship or premature deaths due to delayed entitlements.

Despite concerns about rising public debt, lawmakers supporting the plan argued that the long-term economic benefits, such as increased infrastructure, job creation, and macroeconomic stability, outweighed the immediate costs.

The combined funding strategies were expected to generate jobs, improve access to education and healthcare, bolster food and water security, and enhance public service delivery across Nigeria.

While critics may raise concerns about growing debt, the Senate insisted that the approved loans, grants, and bonds represented a strategic response to the country’s pressing fiscal and development challenges.

The Senate stated that its endorsement of Tinubu’s borrowing plan marked a significant fiscal shift, one aimed at stabilising the economy, funding vital infrastructure, and delivering overdue justice to

“This is normal. There’s nothing new about that. It is very normal and is a well in line with our oversight functions. And as I said, the numbers should, not only with us, but even with the banking system, begin to speak for themselves. The capital adequacy ratio is 13 per cent and, of course, liquidity levels are 50 per cent, and NPLs at the five per cent threshold.”

He added, “And let me also say that in addition to that, we have one bank that has raised a significant amount of money on the London Stock Exchange.

“That clearly is a reflection of the way that the international investors view the banking system, and I was again very privileged to have a conversation with a good number of them about three or four weeks before this listing took place.

“And really and truly, a lot of interest, I must say, a lot of interest internationally, on putting money on the Nigerian financial system.

“The key thing is that we, as regulators, will continue to play our part to ensure that the system and the players and the actors continue to do what we are doing, creating resilience, creating buffer, and, of course, playing by the rules, because that is so important for those who are looking to invest that they can believe and they trust in you.”

Emomotimi Agama

NATASHA AKPOTI-UDUAGHA

THE NATIONAL ASSEMBLY...

L-R: Human Rights Activist, Mrs. Aisha Yesufu, and Senator Natasha Akpoti-Uduagha

the

US Agency Accuses FG of Slow Response to Violence by Non-state Actors

Decries blasphemy laws in 12 states, says they curb religious freedoms

The United States Commission on International Religious Freedom (USCIRF) has accused the federal government of slow response to cases of violence unleashed by non-state actors by jihadists in different parts of the country.

In a new report, the commission, an independent, bipartisan US agency created to monitor, analyse, and report on religious freedom violations around the world, highlighted the curbing of religious freedoms by the country’s laws on blasphemy practiced by 12

states of the federation. It stated that religious communities are facing ongoing, systematic, and egregious violations of their ability to practice their faith freely, with the prosecution and imprisoning of individuals perceived to have insulted religion.

Those targeted, the report said, include Christians, Muslims, traditional practitioners, and humanists.

Aside monitoring, analysing and report on religious freedom violations around the world, the USCIRF makes policy recommendations to the US President, the Secretary of State, and

Congress. These recommendations help shape US foreign policy to promote religious freedom globally.

“Furthermore, despite efforts to reduce violence by non-state actors, the government is often slow to react to violent attacks by Fulani herders, bandit gangs, or insurgents such as Jama’at Ahl al-Sunna lid-Dawah wa’alJihad (JAS/Boko Haram), the Islamic State West Africa Province (ISWAP), and other groups invoking Islam to commit acts of violence.

“This violence severely restricts religious practice and observance by Christians, Muslims, and traditional

religious communities across many Nigerian states in the Middle Belt and in the northeast.

“Perpetrators of the violence have attacked religious sites including churches and mosques, kidnapped or killed religious leaders, and in some cases-used violence or threats of violence against religious communities while demanding so-called taxes, invoking Shari’a law as justification.

“Attacks targeting religious communities remain a major and ongoing threat to religious freedom in Nigeria and are increasing in frequency. In recent months, tensions across religious

Bishop Onah Tasks Nigerians, Leaders on Values, Moral Integrity for a Better Nation

The Catholic Bishop of Nsukka Diocese, Enugu State, Most Rev. (Professor) Godfrey Onah, has called on all Nigerians, particularly Christians, leaders, and politicians, to embody the virtues of values and moral integrity as a way to move the country forward to a place where everyone would be proud of Nigeria.

He added that when people internalised certain values as individuals, “you see it in their public life,” lamenting: “But in the case of Nigeria, very often, our public life, not just public office, does not seem to correspond with what major religions are transmitting to us as values and the training, especially which Christianity gives

in virtue.”

The clergy stated this in his keynote address at the annual lecture series organized by the Catholic Brothers United, Archdiocese of Lagos, held at the St Agnes Catholic Church, Maryland, Lagos, yesterday. He added: “The people always expect us to criticise and blame others for the way things are in Nigeria. But we need to accept the responsibility or the fact that it is a collective responsibility to move the country forward.”

Speaking of the topic: ‘Moral Integrity: Fortress of a Healthy Nation’, he stated the lecture was an invitation “to try to let the virtues we learn as Christians and the values we acquire from Christianity to guide our day-to-day living, our relationship with one

another, and even our attitude towards national affairs as a nation.

“Otherwise, we risk limiting our religious formation to just external rituals, and religiosity being reduced to numbers, rather than the transformation that religion brings. However, I will always emphasize true religion.”

Prof. Onah stated further that: “For too long, Nigerians have tended to limit the responsibility for the health of our nation to the few people in public office, whether elected, selected, absorbed, or appointed. And even in this case, it is wrongly assumed that the health of the nation can be separated from the moral character of these public office holders.”

He lamented that, therefore, it is now normal in Nigeria, in

Babcock University Inducts 86 Medical Laboratory Scientists, Urges Innovation, Tech Advancement

Funmi Ogundare

Babcock University, Ilishan-Remo, Ogun State, yesterday inducted 86 new professionals into the Medical Laboratory Science Council of Nigeria (MLSCN), as part of efforts towards advancing healthcare through innovation and excellence.

Speaking at the 13th induction ceremony, held at the university’s 600-seater Medical School Auditorium, the Guest Lecturer and Professor of Chemical Pathology and Toxicology, Chrisland University,

Abeokuta, Augustine Onyeaghala, appealed to the inductees to embrace innovation, ensure quality assurance, and adhere to regulatory standards. Onyeaghala who spoke on the theme, ‘Unlocking the Future of Medical Laboratory Science: Bridging innovation, Service and Enterprise’, explained the future of Medical Laboratory Science lies in innovation, quality assurance, and regulatory compliance.

“We must create technologies that are both sustainable and affordable,” he stated.

In his remarks President/ViceChancellor, Prof. Ademola Tayo, underscored the indispensable role of the inductees in the healthcare system.

“Your induction today is not merely a rite of passage. As healthcare systems face growing complexity and limited resources, your relevance as Medical Laboratory Scientists is more critical than ever,” he said.

Head of Department, Prof. Esther Adejumo, reminded the inductees that technical excellence must be paired with ethical responsibility.

the absence of values and moral integrity, for citizens to expect even a fraudster who gains public office through fraudulent or questionable means to make decisions in the nation’s and its citizens’ interest.

“Otherwise, how do we explain our exasperation when those who got into office through a process that is anything but transparent have brought our country to its knees? But a few years ago, those people were not government functionaries; they were ordinary Nigerians, and that is the problem with this country.

communities have significantly increased,” the USCIRF report stated.

In March, it stated that Catholic Bishop, Wilfred Anagbe, testified before the US House Foreign Affairs Committee on the increasing violence against Nigerian Christians in Benue State, adding that subsequent to testifying, he received threats by unidentified sources.

Despite efforts in reducing some attacks by bandits and violent extremists on religious communities, the government, it said, continues to fail to stop many deadly attacks against Christians, Muslims, and traditionalists.

Since 2009, and again in its 2025 Annual Report, USCIRF said it has recommended that the US Department of State designate Nigeria as a Country of Particular Concern (CPC) for engaging in and tolerating systematic, ongoing, and violations of religious freedom.

“While Nigeria’s 1999 constitu- tion declares that federal and state governments cannot adopt an official religion, the country’s federal penal code criminalises actions or statements ‘persons consider as a public insult on their religion, with the intention that they should consider the act such an insult.’

“ The constitution also grants state governments the authority to adjudicate criminal and noncriminal proceedings through Shari’a courts. Although these laws apply only to Muslims in theory, some states regularly disregard that limitation and broadly enforce Shari’a.

“State governments fine, charge,

Alleged Diversion of

Indigenes Demand

Adedayo Akinwale in Abuja

The Association of Ebonyi Indigenes Socio-Cultural in the Diaspora (AEISCID) has demanded the immediate sack of the Secretary to the Ebonyi State Government (SSG), Prof. Grace Umezuruike, following a reported court order ordering the interim forfeiture of alleged N1 billion diverted by the SSG.

At the weekend, an Uyo Division of the Federal High Court had ordered interim forfeiture of over N1 billion allegedly diverted by Umezurike, and her aide, Ngene Onyeabor.

The judge, Maureen Onyetenu, granted the forfeiture order on 8 July, according to a court document

obtained by a national newspaper. The court order followed an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).

However, reacting to the development, the group wondered how such humongous corrupt practice happened in a state like Ebonyi where “abject poverty walks on the streets stark naked.”

In a statement issued Tuesday by its President, Amb. Pascal Oluchukwu, the group said it took a social critic, Nwoba Chika Nwoba to petition the anti-graft agency before it acted and froze the said accounts with an order to conduct discreet investigations into the matter.

To this end, the group gave

convict, and imprison non-Muslimsincluding Christians and humanists on related charges. Nigeria’s government permits 12 states in northern Nigeria, along with the Federal Capital Territory (FCT), to implement a Shari’a-based legal framework that criminalizes blasphemy and related offences.

“Authorities in these jurisdictions additionally enforce a Shari’a-based penal code that levies corporal punishments such as caning, amputation, and stoning for a variety of offences,” it stressed.

In February, the European Parliament, it said, passed a resolution urging the Nigerian government to immediately release all prisoners convicted of blasphemy and repeal related laws at both the federal and state levels, citing them as violations of Nigeria’s obligations under international law.

Besides, in April, the Community Court of Justice of the Economic Community of West African States (ECOWAS), of which Nigeria is a founding member, the organisation stressed, ruled that the Kano State blasphemy provisions violate the country’s international legal commitments.

“Nigerian government leaders have hesitated to abolish Shari’a codes, citing possible mob violence by those that support the laws. Despite releasing Christian nurse Rhoda Jatau in 2023 and humanist Mubarak Bala in early 2025, both of whom were charged and convicted under blasphemy laws.

Governor Francis Nwifuru 48 hours ultimatum to immediately drop his SSG within for a thorough, discreet and unhindered probe by the anti-graft agency. It noted: “Cases of corruption have been more prevalent in the current leadership of the state under Governor Nwifuru - arguably more than all the past administrations since the return of democracy combined.

“We ask: What else does the governor who claims to be a lawyer need to understand that once a prima facie case has been established leading to the freezing of the said accounts by the anti-graft agency for a possible forfeiture of the diverted funds to the federal government, the SSG should have been asked to step aside immediately?

AT

at

National Assembly, yesterday when Senator Natasha reported for duty after the court ruling in Abuja pHoto: JULiUS Atoi

Sunday Okobi

Emmanuel Addeh in Abuja

52nd AAAn gALA nighT...

WAEC/NECO: FG Concludes Plans to Engage Private CBT Centres in 2026

As house committee pledges collaboration with exam bodies to enhance education standards FG reveals 1,367,210 candidates registered for SSCE

The federal government has revealed plans have been concluded indicating privately-owned Computer Based Test (CBT) centres and others belonging to public institutions would be fully deployed in the conduct of schoolbased Senior School Certificate Examination (SSCE) by 2026.

In a related development, the House of Representatives Committee on Basic Education Examination Bodies has pledged to collaborate with the National Examination Council (NECO), the West African Examination Council (WAEC), the National Business and Technical Examinations Board (NABTEB), and other relevant examination bodies to uplift the quality of education across the country.

Meanwhile, Minister of Education, Dr. Tunji Alausa, revealed privately-owned Computer Based Test (CBT) centres will be henceforth deployed after monitoring a pilot CBT SSCE conducted by National Examinations Council (NECO) at Sascon International School, Maitama, on Tuesday in Abuja. Alausa, who hailed NECO for the seamless conduct of the pilot phase of the CBT SSCE, said future school-based SSCEs would be moved to designated CBT centres, rather than being held within schools.

He said: “WAEC and NECO exams are school-based exams being conducted at their schools. No, we will move away from that.

“It is going to be like the way JAMB exams are being conducted at CBT centres. We have thousands of CBT centres across the nation.

“Those are the centers that we are going to use. It’s not a case that students do not have the facilities. Schools do not have the facilities.

“We have enough people. We also have to expand the value chain of these CBT centres. They should not just be to service JAMB alone.

“It will create jobs. You see a lot of computer, hardware, and software. More importantly, we have entrepreneurs in Nigeria that are creating and developing these solutions. These are homegrown solutions. Today, we should all stand tall and be proud of what we utilize.

“This is the first in the history of NECO, which is conducting its annual O-Level Certificate exams for SS3 students. This is a pilot that we pushed to have, and I must tell you, I was very impressed with what I saw.

He also disclosed a phased rollout of CBT format across all school exams starting with objective questions this year.

“And by next year, 2026, all the essays and objective exams will be CBT. NECO and WAEC will be

joining the league of JAMB. We are making significant progress,” he added.

Registrar of NECO, Prof. Ibrahim Dantani Wushishi, expressed the readiness of the exam body for CBT.

He revealed that a total of 1,367,210 candidates registered for this year’s SSCE, the highest figure so far. Of these, 685,551 are male and over 681,300 are female.

According to him, Kano State had the highest number of registered candidates with more than 137,000, while Kebbi had the least, just above 5,000.

He also noted the centre with the

lowest number of candidates was the Nigerian International School in Jeddah, Saudi Arabia, which registered eight students.

He said: “We are very much ready to do that as a professional body. Provisional infrastructures, we are calling for government at the state level to speed up making provision for CBT infrastructures in their states, because that will highly support the process.

“And we are very happy that the results and certificates are recognized globally and we need to also do more in order to reach out across the world on our certificates and

results. So NECO is fully ready as far as that is concerned.”

Meanwhile, the House of Representatives Committee on Basic Education Examination Bodies gave the assurance of collaboration with exam bodies on Tuesday through the Committee’s Chairman, Hon. Oboku Oforji (PDP, Bayelsa), alongside other committee members during an oversight visit to selected schools in Abuja to monitor the administration of NECO examinations.

During the inspection, the lawmakers visited two schools in the Federal Capital Territory: Federal Government Boys College in Apo

and the Model Secondary School in Maitama.

While speaking to the press during the visit, Hon. Oforji explained that the tour was part of the National Assembly’s constitutional mandate, which the Committee is executing through such oversight activities. He emphasized the importance of NECO, stating, “We came to observe NECO’s operations. NECO plays a crucial role - it’s a homegrown body, unlike WAEC which operates on a regional level across West Africa. We are very impressed with the work NECO is doing under the leadership of Professor Ibrahim Wushishi.”

PSC Pledges to Rid Police Force of Drug Addicts, Seeks NDLEA’s Assistance

The Police Service Commission (PSC) has vowed to get rid of drug addicts in the Nigeria Police Force and also invited the National Drug Law Enforcement Agency, NDLEA, to assist it in achieving the objective. Stating it is dangerous to give firearms to drug addicts, the Commission vowed that it is poised to flush out such officers from the

Buhari Pushed Pro-poor, Labourfriendly Policies, Says Union

Onyebuchi Ezigbo in Abuja

The Medical And Health Workers’ Union of Nigeria (MHWUN) has eulogized late President Muhammadu Buhari for standing against policies that would have worsened the living condition of Nigerian masses throughout his tenure in office.

The union said it is common knowledge that President Buhari refused to dance to the tune of the World Bank, IMF, and their leaders who demanded that Nigeria abruptly remove subsidy on electricity and fuel. The union in its tribute to the late former president jointly signed by the National President, Dr. Kabiru Ado Sani Minjibir and Secretary General Comrade Auwalu Yusuf

Kiyawa said that most of Buhari’s policies were guided by his love for the poor and downtrodden in our society.

“Most of all, his love for the poor and downtrodden in our society, his courageous stand against corruption in all its ramifications, stood him out as a true and great leader.

“In fact, his love for young Nigerian children who are the future of Nigeria moved the late president to introduce the school feeding programme, which evidently, drastically reduced the number of out-of-school children.

“He also went further to support families in the country with some stipends through the social investment and poverty alleviation programme.”

The union said it is common

knowledge that President Buhari refused to dance to the tune of the World Bank, IMF, and their leaders who demanded that Nigeria abruptly remove subsidy on electricity and fuel, without minding the economic and socio-economic implications.

Instead, the union said Buhari opted for a gradual process for the benefit and betterment of common Nigerians.

The union also said that farmers in the country will always remember the late former president for the Farmer’s Anchor Borrowing programme, which he conceived and implemented as master-stroke to boost food production in the country.

MHWUN said late President Buhari will always be on the minds of Nigerian workers as a Labour-friendly president.

Police Force.

A statement by the Head of Press and Public Relations, Ikechukwu Ani, said the Chairman of the Commission, DIG Hashimu Argungu (Rtd), made this pledge on Tuesday when he led the management team of the Commission on a scheduled visit to the Chairman and Chief Executive of NDLEA and his management team at the Corporate Headquarters of the agency.

Speaking during the official visit to the NDLEA, Argungu invited the agency to join the commission in all the processes of screening prospective Nigerians who are desirous of joining the Nigeria Police Force.

The chairman, who was received by Brigadier General Buba Marwa, chairman of the agency, said there was a need for a functional partnership between the commission and the agency in the fight to eradicate drug abuse in the Nigeria Police.

He commended the Agency for the assistance in screening intakes of the Police Academy Wudil, Kano, which has drastically reduced the incidence of drug addiction among students of the academy.

The PSC Chairman said there was a need to upscale this assistance to cover the recruitment processes in the Nigeria Police Force.

“We want you to assist us in fishing out the drug addicts who

obviously should not be allowed to get in and corrupt the system. We want to get it right and get the Police to work,” said, applauding his host for his track record of excellence in the service of the nation.

The host, Brigadier General Buba Marwa (Rtd), in his response, pledged the agency’s commitment to assist the commission in sanitising police recruitment.

“We will try our best to bring the menace to an end, but it requires intelligence sharing and intelligence training,” he noted.

General Marwa said there was also a need to visit police barracks and police training colleges for advocacy and counselling.

Gov Radda Seeks N50bn Investment in Katsina’s Carbon Portfolio

Francis Sardauna in Katsina

The Katsina State Governor, Dikko Umaru Radda, has called on foreign and local investors, as well as development partners to invest in the state’s N50 billion Carbon Portfolio.

He equally advocated the adoption of the Katsina Green Growth Agenda (KAGGA) as a national template for Nigeria’s forest economy transformation.

He made the calls at the Nigeria Forest Economy Summit 2025 orga-

nized by the Presidential Committee on Economic and Financial Inclusion (PreCEFI) and Border Community Development Agency (BCDA) at the Presidential Villa, Abuja. Represented by his Senior Special Adviser on Climate Change, Prof. Mohammed Al-Amin, the governor revealed that Katsina State has lost 15 per cent of its forest cover with 60 per cent of farmlands battling relentless drought. According to a press statement by his Chief Press Secretary, Ibrahim Kaula Mohammed, Governor Radda

emphasized that these challenges have birthed innovative solutions through KAGGA, launched in April 2025. He stated the economic potential of Katsina’s forest transformation, projecting the creation of 100,000 green jobs in sustainable forestry and eco-tourism by 2035. He stressed the initiative will unlock N3.5 billion annually from waste recycling and N4.2 billion from plastic upcycling, while powering industries through a planned $500 million Solar Industrial Park in partnership with Genesis Energy.

Kuni Tyessi and Juliet Akoje in Abuja

Linus Aleke in Abuja

L-R: Executive Assistant to CEO/Legal Executive, Miss Arinola Gbalajobi; Finance Director, 7even Interactive, Mrs. Bisi Ajayi; Deputy Creative Director, X3M, Mr. Oladunni Williams; Group CEO, X3M, Mr. Steve Babaeko; Brand Management Director, X3M, Mr. Temitope Ayeni; Creative Director, X3M, Mr. Samuel Oluwagbemi; and Creative Director, 7even Interactive, Mr. Oluwatobi Williams, during the 52nd AAAN gala night … recently

Acting Group Politics Editor DEJI ELUMOYE

Email: deji.elumoye@thisdaylive.com

08033025611 sms only

Nwosu: Anambra Guber Poll, Ground Zero for ADC Coalition to Test Collective Resolve

Candidate of the african Democratic Congress in the forthcoming governorship election in anambra state, Mr John nwosu, in this interview says aDC and the coalition partners will use the 2025 gubernatorial poll in the state to test their resolve to displace the all Progressives Congress at the centre come 2027. David-Chyddy Eleke brings excerpts:

Vote buying and ballot snatching have been a bane of Nigerian elections, including that of Anambra. What are your plans to ensure other parties, especially the ruling party doesn’t take advantage of such devices to win?

It is ridiculous and shameful that vote buying and ballot snatching happen in our elections. Electronic voting and uploading of results has somehow mitigated ballot snatching. Yet vote buying is a norm. Existing electoral laws prohibit such acts, but desperation, lack of political will and weak institutions, including the election security regime, continue to be a challenge.

If every party resolves to protect their votes, no matter how small, we will make some headway. Voters education is also vital. Why collect five thousand naira in lieu of four years of bad and in our case, insecure and brutal governance. It makes no sense, but I admit that it happens.

If elected, what will you do differently from what incumbent Governor Charles Soludo has done?

I will work hard, be humble and carry the electorate along. Above all, as a servant leader, I will listen to all views before taking decisions. A good leader must be a good listener. No one knows it all. I’m not a professor, but I have common sense.

There is now this famous cliche that other candidates are claiming they will connect Anambra to the center, what is your position on it? ls that also your objective?

The center and the rest of the nation will be connected to Anambra. If you have a thriving, secure, hospitable and enabling environment, investors, tourist and our Diasporans will come. Capital will also come. If you are the centre of excellence, people will gravitate towards you. That’s the Anambra of my dreams. That’s my objective.

How confident are you that the APC-controlled federal government will not hijack coming Anambra State governorship election using the Independent National Electoral Commission?

I’m only sure that the sun will rise tomorrow. In politics there will always be surprises and the unexpected. But knowing the enemy is half the battle. If the people vote for change, we will do our best to avoid the repeat of INEC mercantile electioneering.

What are you going to do to protect votes earned by your party in the coming election?

The votes are the people’s vote. The votes they will cast for a candidate of their choice belongs to them and must also be protected by them. But we will train our agents to secure, and transmit polling booth results electronically to us before the perpetrators get a chance to doctor and mutilate the result sheets. That was what happened in Abia. That was what saved the day.

What is the fate of ADC in the wake of moves to form ADA by the coalition? Does it mean ADC will no more be the platform?

ADC has been a long-established and nationally recognized party. It

has never been deregistered. It’s a party in good standing. The party has always fielded credible candidates at the national and state levels. Quite on the contrary, the ADA is an attempt to register an entirely new party. The ADA’s application, if I recall correctly, is one out of well over 100 applications still pending before INEC. ADA, will have to cross the high hurdles of registration to get to where the ADC is, presently.

What is the implication of the change of leadership in ADC? You left Labour Party for ADC when you couldn’t secure that party ticket. Now that Labour Party and ADC appear to appeal to the same set of voters don’t you think this will hamper your success in the election?

A - Politics is dynamic. Leadership changes are routine, so long as it conforms with established norms. If the interest of ADC is

best served by a new leadership, so be it. I did not leave LP because I could not secure the ticket, I did not want to secure a ticket illegally or support a process that was riddled with irregularities and illegalities. A party leadership that is incapable of respecting its own constitution and the rule of law, does not stand for much. The Anambra electorate are not totally ignorant: they know and can sense who the credible and honest politicians are.

It is their choice and call.

Besides the proposed coalition which may or may not work, do you see the possibility of forming an alliance with some governorship candidates to be able to defeat the incumbent governor? And with several weaker parties talking about merger, what will be your reaction if other political parties approach you for merger for purposes of wrestling power from Governor Soludo?

As you are aware, ADC will soon be announced as the coalition party at the national level. We are amenable

Anambra, will be the first test case, the ground zero for ADC and the coalition partners to test their collective resolve. We will welcome those who have joined or who may wish to join the coalition under ADC. We will be willing to discuss the coalition and power sharing arrangements, if that will facilitate an end to Governor soludo’s bad government.

to joining forces. Anambra, will be the first test case, the ground zero for ADC and the coalition partners to test their collective resolve. We will welcome those who have joined or who may wish to join the coalition under ADC. We will be willing to discuss the coalition and power sharing arrangements, if that will facilitate an end to Governor Soludo’s bad government.

Some people had thought that ADC would join other political parties to oppose the imposition of N50m on the governorship candidates. What was the reason behind your decision to pay?

Respect for the rule of law. We don’t like the steep and almost punitive nature of the levy, but we are bound to pay that amount if we must campaign freely. I tweeted that if I become the governor, I will change that law.

If you were the governor of Anambra State, would you rather build an Olympic Sport Stadium than use the land allocated for the purpose to build a Fun City like the incumbent has done?

As individuals or as a state, one must understand the vast difference between “want” and “need”. Leadership mindset and exposure determines how public policies are shaped. A stadium and fun city are both for recreational purposes. Yet, there will always be a cost-benefit consideration. If an Olympic Sport Stadium will help Anambra State to attract international sporting events, or help Nigeria bid for hosting such events, and generate revenue, then that will naturally have my sympathy.

Are you comfortable with the notion that a state should not borrow, how would you use external finance to unlock the potential of Anambra as a governor?

Borrowing, be it personal or official is not a bad thing. You borrow for defined and legitimate purposes. In the realm of governance, you borrow for regenerative ventures, be they short, medium or long term. Borrowing requires strict discipline. You can’t borrow for consumption or frivolous reasons. If you must borrow, you must have clearly defined ways of amortizing your loans. Loans and grants, especially pre-purposed and well structured loans for public-private partnerships are useful for unlocking the potentials of a state like Anambra. I’m not aversed to loans, per se, I’m against fiscal recklessness.

What are your thoughts about the growing wave of defections by opposition parties to the All Progress Congress (APC) ahead of the 2027 election?

In our culture, it is those who commit crimes or abomination or those who are ostracized that leave the comfort of their homes or community to go to foreign or alien communities to reside. I’m aware that lack of ideological commitment plays a role in defections. But the ruling APC has made it a policy to offer cover to those who have wronged their people and their states by inviting and accepting them. A majority of defectors, have legal cases to answer. Some are indicted or even convicted. In law and in our penal code, shielding an indicted person is itself a crime. It’s called obstruction of justice.

ProPerty & environment

Cruxstone Group Unveils Plans for Nautica Beach Resort, An Iconic, Unique Leisure and Recreational Beachfront Destination

Bennett Oghifo

Cruxstone, one of Nigeria’s foremost real estate development firms, has unveiled plans to raise something iconic, known as Nautica Beach Resort, from the Lagos waters that will begin a new era of luxury, leisure, and lifestyle along the coastlines of Lekki Peninsula.

Nautica Beach Resort, according to Cruxstone, promises to be West Africa’s ultimate luxury beach escape.

Strategically located in the heart of the rapidly

expanding Lekki Peninsula, Nautica Beach Resort is set to redefine the standards of hospitality, tourism, and beachfront leisure in Nigeria.

The resort is designed as a beacon of opulence that will seamlessly blend architectural elegance with natural beauty, offering a truly immersive experience for both high-net-worth individuals and discerning travellers. This in-city global beach destination is purposefully designed to cater for families, corporates, tourists, individuals and all members of the international community resident in

West Africa. It will be a major melting pot for all nationalities. This is due to its safe, clean and diverse nature of the location.

“Nautica Beach Resort isn’t just a destination, it’s an experience. It will embody the pinnacle of lifestyle and leisure in West Africa, fusing nature, design, and hospitality into one iconic address,” said Dr. Adetoro Bank-Omotoye, Managing Director of Cruxstone Group.

Envisioned as a selfsustaining luxury waterfront community, Nautica Beach Resort will feature: Outdoor

leisure and recreation spaces; Family beach clubs; Overwater restaurant; Experiential retail village; Private members club; Activity zones; Beach houses and chalets; Clubhouse and sport bar; Premium restaurants and upscale bars; Private beachfront cabanas; Spa and wellness centre; Family entertainment centre; A scenic pier and water sports jetty overlooking the Atlantic, and so much more. Whether for weekend getaways, extended holidays, or long-term stays, Nautica Beach Resort will offer an unrivaled mix of

comfort, oceanfront views, and curated lifestyle experiences, crafted to meet global luxury standards. In a market eager for authentic, experience-driven destinations, Nautica Beach represents more than just a resort, it’s a visionary investment in Nigeria’s tourism infrastructure. It also supports Lagos State Government’s ambition to position Lagos as Africa’s tourism and investment capital, helping transform the Lekki coast into a global hotspot on par with destinations like Waikiki beach, Copacabana beach, Ibiza,

Julius Berger Wins Sustainable Construction Award

Engineering construction giant, Julius Berger Nigeria Plc has won the maiden Award for Leadership in Sustainable Construction

organised by global industry watchdog, American Society of Engineers, ASCE, through its Sustainable Infrastructure Recognition Awards, SIRA platform.

At the just ended 2025

Sustainable Infrastructure Conference of the Society held in Lagos, ASCE stated that SIRA is Nigeria’s premier platform for celebrating excellence in sustainable, climate-resilient

and impactful infrastructure delivery for which individuals, organisations and projects that transform the built environment through innovation, resilience and bold leadership, are honoured.

Accordingly, the ASCE said Julius Berger Nigeria PLC is eminently qualified to be crowned with the Leadership in Sustainable Construction Award for its groundbreaking achievements across sustainable construction and engineering practices, green energy infrastructure, indigenous construction leadership, and climate-aligned design.

Citing the company’s application of the novel Bitumen Stabilised Materials, BSM initiative in construction works, especially on the Abuja-KadunaZaria-Kano road project in one of the presentations, ASCE declared that, we are celebrating those who are not just building but building better for our future; adding that this is the moment to move from policy to performance, from ideas to impact and from construction to conscience.

The Society’s Nigeria Section President, Engr. Austin Odibi, in applauding Julius Berger’s initiative declared that JBN’s BSM technology is a compelling novelty in construction works even as the ASCE Executive Director, Tom Smith praised the application of BSM technology and recommended its

use globally.

I commend Julius Berger for the BSM technology. That it is being awarded the Leadership in Sustainable Construction today underscores this fact. Kudos to the company. We recommend BSM technology for general construction applications globally, even in the United States, he said. In a presentation on Statistical Evaluation of Indirect Tensile Strength and Unconfined Compressive Strength in Bitumen Stabilized Materials: Case Study of the Abuja-Kaduna-Kano Highway as constructed by Julius Berger, by Dr. Abdulmuminu Ahmed Shauibu of the Ahmadu Bello University, Zaria, he concluded that, the innovation is a welcome development in the construction sector which must be encouraged.

The Academic concluded his presentation thus: Julius Berger has attempted to contribute to developing cost-effective infrastructure, environmental-friendly infrastructure, as well as sustainable infrastructure by the use of cold recycling technology by means of bitumen-stabilized material; ... and the federal government actually accepted it due to its numerous potentials to address sustainability problems, like going to explore virgin materials which can affect the ecosystem, destroy wetlands, etc was mitigated. And because

The Hamptons, and Bali. The development is already generating excitement. With construction in full swing, Nautica Beach Resort is on track for its highly anticipated launch in the coming months. The project is also expected to drive economic growth, creating jobs, attracting tourism, and opening the door for local and international partnerships. Be among the first to experience Africa’s new leisure destination. Visit www.nauticabeach.com to subscribe and stay informed on construction and launch updates.

this type of maintenance activity relies heavily on the milled material from the asphalt pavement, which means you are using the distressed pavement. It is now effective.

In accepting the Award, the Director of Administration, Alh. Abdulaziz Kaita appreciated the honour and recognition given to Julius Berger and its efforts at uplifting the country construction industry by pioneering the BSM technology. He added that beyond the BSM technology, Julius Berger has done a lot and still doing much in the built sector.

The BSM technology has been able to contribute to the Sustainable Development Goal 9 and 13, industry innovation and infrastructure and also climate condition. And in terms of energy consumption and energy release, you can tell that it is very low. In this light, our collaboration with the Department of Civil Engineering of Ahmadu Bello University on the BSM technology, knows no bound. We are seriously nourishing the arrangement, and we are doing a lot in the built sector, beyond the BSM technology issue, Kaita said.

The Director, Administration of Julius Berger, Alh. Dr. Abdulaziz; a Project Coordinator in Region West, Engr. Fatima Kosemani, among others were at the event.

PWAN Group Urges Clients with Complaints to Reach Out for Prompt Resolution

Fadekemi Ajakaiye

Nigeria’s leading real estate network marketing and development conglomerate, PWAN Group, has called on clients experiencing any form of challenge— particularly regarding plot allocation—to reach out directly to the company for urgent resolution.

The appeal was made by the Acting Group Managing

Director of PWAN Group, Prof. Julius Oyedemi, while addressing journalists in Lagos yesterday, in response to growing concerns from some clients over delays in plot allocation.

“We are fully committed to promptly resolving any challenges or complaints our esteemed clients may have,” Prof. Oyedemi stated. “Any of our clients experiencing issues should

feel free to contact the office of the Acting Group Managing Director directly for immediate attention.”

He emphasised that PWAN Group remains committed to transparency, accountability, and lawful business conduct, and reaffirmed the company’s dedication to customer satisfaction across its network of over 63 affiliate companies.

In a bid to ensure faster resolution, Prof. Oyedemi urged aggrieved clients to send their complaints directly to his office via the email: pwangroupcomplaints@juliusoyedemi.com.

The call for direct engagement comes amid efforts by the company to rebuild client confidence following complaints about allocation delays.

According to Prof.

Oyedemi, while PWAN has served over 300,000 satisfied clients, fewer than 20% have experienced delays, which he attributed to operational challenges that the company is currently addressing.

“As with any large-scale operation, we face some hurdles,” he said. “But rest assured, we are optimising our processes. Our affiliate companies are actively

allocating plots, and our teams are working tirelessly to ensure all outstanding issues are resolved in record time.”

PWAN Group, renowned for its innovative real estate solutions and expansive network of realtors, continues to maintain its position as a pioneer in the sector, assuring stakeholders of its unwavering commitment to service excellence.

Fadekemi Ajakaiye

Director, Administration of Julius Berger Nigeria Plc, Alh. Dr. Abdulaziz Kaita (m), receiving the Leadership Award on behalf of the company. To his right is the global president of the American Society of Civil Engineers, ASCE, Dr. Feniosky Pena-Mora; and a Project Coordinator of Julius Berger, Engr. Fatima Kosemani, and others

Wednesday July 23, 2025

www.thisdaylive.com

A NEW SHERIFF, A GROWING INTOLERANCE PAT ONUKWULI urges Monday Okpebholo to act within the law

See page 21

BROADBAND ACCESS AND AFFORDABILITY

In spite of remarkable broadband penetration, access is still difficult, writes SONNY# ARAGBA-AKPORE

See page 21

opinion@thisdaylive.com

The Ganduje-led board promises to reposition the operational efficiency of the agency, writes ALIYU IBRAHIM

GREAT EXPECTATIONS AT FAAN

The aviation sub sector of the Nigerian economy, within the 25 months period of the President Bola Ahmed Tinubu-led administration, has recorded very impressive scorecard. This success story is amply guided by the energetic and creatively intelligent young mind, Festus Keyamo, SAN, Nigeria's Minister of Aviation and Aerospace Development.

He has been able to usher in people-oriented value-additions in driving the development of the day-to-day functions of the Ministry.

These, he had done to the admiration of eminent Nigerians, who on a daily basis, offer patronage to flight transportation shuttles within and outside the shores of Nigeria, thus, contributing to the economy of the Nigerian state. Festus Keyamo has equally gotten very positive commendation from his principal, President Tinubu over milestone achievements, made so far in the nation's aviation industry.

Perhaps, it is with a view to complementing these achievements that President Tinubu recently constituted the new Board of the Federal Airport Authority of Nigeria (FAAN) headed by no less an eminent Nigerian and scholar than, Alhaji Abdullahi Umar Ganduje, who recently resigned as the National Chairman of the All Progressives Congress party {APC}.

As Dr. Ganduje assumes office as the Chairman, Board of Directors of FAAN, there are lots of expectations from Nigerians, particularly, the few privileged ones, who patronize the airline flight services in their official and private engagements.

Alhaji Ganduje, no doubt, sets defining pathways on how best he intends to make this Federal Agency, vibrant, resourceful, goaloriented and financial self - sufficient, given the visionary ideas he is bringing to the table as the new Chairman of FAAN. Having hinted about his strategies and plan-of-action which includes the culture of financial self-sufficiency, aiming to redefine the agency's revenue streams apart from the traditional annual statutory budgetary allocations.

This inward-looking plan-of-action, Umar Ganduje, believes, would help immensely in repositioning the operational efficiencies of the agency in service delivery as well as offering well defined and enhanced motivational incentives to the entire workforce, guided by the social psychology reality principle which says that motivational incentives in a workplace have very strong ways of reinforcing highly proficient productivity.

A brilliant academic, bureaucrat and onetime local government administrator in the early days of military rule, Dr. Ganduje has always had a knack for thoroughness in any official assignments.

What the new Board would certainly do for now is to begin initial study of the terrain, seek alternative ideas, concepts and also understudy how similar agencies, across the world, are run and proffer novel concepts that the management can leverage to move the agency forward. The overall work plan of the new Board, is between the members and the executive management of the Federal Airport Authority of Nigeria, headed by the Managing Director/ Chief Executive Officer.

Going by current global operational standards

and practice, it would be a welcome idea, if the new Board works in line with the Renewed Hope Agenda of the President Tinubu’s government, that aims at exploring new revenue streams, including non-aeronautical sources such as retail, advertising, and real estate. This is expected to reduce the agency's dependence on traditional revenue sources and increase its financial stability. Enhancing lines of productivity as well as moves to streamline internal operations with the management of the FAAN would also on stream. This includes implementing cost-saving measures and investing in technology to improve airport operations.

From the official records, the Federal Airport Authority of Nigeria is presently deploying institutional efforts aimed at engaging the key players of the industry to facilitate the transactional option of tidying up business opportunities under the platform of Public-Private Partnerships (PPP’s) with a view to expanding frontiers within the private sector stakeholders. This is designed to explore potential partnerships and investments that would encourage indigenous investors and allied partners. This is expected to bring in new capital and expertise, enhancing the agency's ability to deliver world-class airport services.

Listening to his opening remarks on the day the new Board was constituted, Dr. Ganduje spoke with the wisdom of a philosopher, experienced technocrat and bureaucrat, when he said, "I hereby pledge the commitment and support of the board members in ensuring the progress of FAAN and the Ministry of Aviation & Aerospace Development ". In his words, “As a board, we will assist you in moving this ministry to the next level,” stressing that " there is no doubt that we will study the Act that establishes FAAN in order to see our or determine our boundaries, or area of administrative limitations, so that we do not exceed our boundary".

Guided by his knowledge-base, administrative experience and competences as onetime Local Government sole administrator, Deputy Governor and Executive Governor, Alhaji Umar Ganduje,

offers a tie-back to the animated political cum social problem that had over the decades brought about frictions between career civil servants and political appointees, particularly, between appointed board members and high ranking members of the executive management in any agency of government, when he recalled that “this is a common problem between the boards and the executive management and the ministries".

And speaking with the strides of an experienced class room teacher, versed with the teaching methodologies of his students, Umar Ganduje said, "So we are fully conscious of this".

On the proper way to go in pursuing their primary assignment schedules as Chairman and members of the FAAN, particularly in keeping to the institutional tenets that guide the policy directives of President Tinubu’s Renewed Hope Agenda on Aviation and Aerospace Development, Abdullahi Umar Ganduje, said, "Therefore, the board members and I will study the Act establishing FAAN, so that we do not go out of bounds, in order that we do not overshoot. But at the same time, we do not exhibit mediocrity by not doing what we are expected to do".

Offering a note of assurance, which a well cultured, disciplined and responsible elder would give to encourage personalities, in their middle and late adulthood, the immediate past National Chairman of the ruling APC confidently reassured thus: "I will assure you that, in conjunction with the executive management, we as members of the Board, will ensure service delivery, would not be compromised".

According to Ganduje, "This is because, service delivery, is the whole essence of FAAN. Service delivery and this service delivery, is becoming more and more complicated, because there are so many stakeholders, institutions, both at the national and the international levels. And we must be conscious of the fact that Nigeria as a country, being a leading country in Africa, is looked up to for direction and positive examples. Therefore, it is for these reasons, that we must, exhibit our services to the best international standards.”

It is projected that the Ganduje's initiatives, when implemented and harvested, could significantly boost Nigeria's aviation sector, enhancing the country's global visibility, economic complementarity, competitiveness and growth.

The Umar Ganduje led Board represents an assemblage of corporate and experienced professionals with diverse competences.

All members of board are aware that Nigerians look up them to demonstrate the highest standards of honesty, transparency, and dedication in their official dealings, by using transparency and accountability as guide-points throughout the duration of their operational tenure.

The Board, in synergy with the Managing Director/ Chief Executive Officer of FAAN, should also move to elicit strong fidelity towards maintaining a smooth-sailing stakeholder expectations, by assuring air travelers and allied users of air-related aviation service delivery engagements and services that their tenure would not be business as usual.

Dr. Ibrahim, MFR, a political scientist, is the National Convener, National Agenda for Tinubu 2027

PAT ONUKWULI urges Monday Okpebholo to act within the law

A NEW SHERIFF, A GROWING INTOLERANCE

In the heartland of Edo State, a chilling declaration rang out like a clarion call for political vigilantism. “There’s a new sheriff in town,” Governor Monday Okpebholo thundered, warning former Labour Party presidential candidate, Mr. Peter Obi, to steer clear of the state without prior security clearance.

His words, uttered in the fiery theatre of a partisan rally, dripped with implied threats: “His security will not be guaranteed… he will have himself to blame.”

Such rhetoric, when wielded by a sitting governor, does not merely overreach; it strikes at the foundational pillars of our fragile democracy.

This was not an isolated gaffe. In April 2025, Benue State Governor Hyacinth Alia issued a similar caution to Mr. Obi, prompting the former Anambra governor to cancel a planned humanitarian outreach.

These coordinated episodes should not be dismissed as partisan banter; they are early tremors of a deepening culture of intolerance that, if left unchecked, could fracture Nigeria’s democratic spine.

At the heart of this political theatre lies a stark and troubling reality: the Nigerian Constitution is being casually trampled. Section 41(1) of the 1999 Constitution is unequivocal: “Every citizen of Nigeria is entitled to move freely throughout Nigeria and to reside in any part thereof.”

That any elected official, no matter how well-meaning or self-assured, would dare suggest otherwise is not only unconstitutional; it is profoundly undemocratic.

The philosophical underpinning of a constitutional democracy is the limitation of power.

Thomas Hobbes, in his Leviathan, warned that when power is unchecked, the state becomes a tool of tyranny rather than a shield for the weak.

Governor Okpebholo’s remarks, whether cloaked in the language of security or the bravado of political ascendancy, reek of Hobbesian absolutism. They reduce democratic space to a fiefdom, where the governor’s word supersedes the nation’s highest law.

To suggest that Mr. Obi’s past visit triggered unrest because he donated N15 million is to flirt dangerously with both superstition and scapegoating. It is reminiscent of medieval witch trials, where bad harvests were blamed on village women.

Political violence should be condemned, not weaponised against dissenting voices.

When guardians of the law begin to redraw their lines in the dust of ambition, the republic drifts from covenant to theatre. What begins as a gesture of authority soon mutates into a ritual of exclusion, where presence becomes trespass and silence becomes complicity.

Like Prometheus stealing fire not for light but for dominion, power misused becomes prophecy, foretelling a polity scorched not by wrath, but by the slow, indifferent erosion of what was once sacred.

So let no one mistake the tremors for mere coincidence or random noise; they echo the approach of the 2027 general elections. Mr. Obi remains a symbol of political disruption. In 2023, his Labour Party claimed Edo and came within a whisker of seizing Benue.

In Nigeria’s power calculus, such symbolic victories are more than electoral footnotes; they shake the foundations of entrenched patronage and challenge the dominance of old political orders.

This explains why the reactions of both Governors Okpebholo and Alia feel more strategic than spontaneous. By erecting invisible walls around their states, they are effectively testing the boundaries of federal authority, daring the judiciary and civil society to respond.

Today, it is Mr. Obi. Tomorrow, it could be any citizen deemed inconvenient.

The question must be asked: What kind of democracy allows a sitting governor to issue veiled death threats against a fellow Nigerian and remain unrepentant? What happens when opposition leaders can no longer campaign, organise, or move freely across the federation?

The late sage, Chief Obafemi Awolowo, once said that “the greatest weapon of the oppressor is the mind of the oppressed.”

By normalising these breaches, by rationalising them as mere “security protocols,” we risk eroding not just laws, but the spirit of civic resistance. This is not just about Peter Obi; it is about the future of Nigeria.

It is tempting to treat this as just another episode in Nigeria’s never-ending political drama. But that would be a dangerous abdication of responsibility.

Civil society, opposition parties, the clergy, traditional rulers, and yes, members of the ruling All Progressives Congress, must speak with one voice in condemning this abuse of office.

Political affiliation should not cloud our collective judgment. A governor’s allegiance should first be to the Constitution, not his party. And if APC leaders remain silent, they inadvertently endorse this descent into despotism.

It is noteworthy that Kunle Edun, SAN, a respected legal mind, has called out Governor Okpebholo for violating his oath of office. Human rights activists such as Chidi Odinkalu and Inibehe Effiong have warned of the dangerous precedent this sets.

The Coalition of United Political Parties has described the remarks as a “veiled death threat.” These voices must be amplified, not silenced. Democracies do not die in one fell swoop. They die slowly, through a thousand paper cuts, through unchecked rhetoric, through the corrosion of norms and the silence of good men.

If governors can declare de facto no-go areas for opposition figures today, what stops them from banning journalists tomorrow or jailing activists the day after? The late Archbishop Desmond Tutu once observed that “if you are neutral in situations of injustice, you have chosen the side of the oppressor.” Silence now is complicity.

The “new sheriff in town” may indeed hold the reins of power in Edo State, but those reins are not a license for lawlessness.

Authentic leadership is not marked by whom one can bar or banish, but by one’s commitment to justice, fairness, and the Constitution.

Governor Okpebholo must retract his remarks, clarify his allegiance to the rule of law, and demonstrate the maturity expected of the office he holds.

Anything less is an invitation to anarchy. And Nigeria, already teetering on too many precipices, cannot afford to fall off yet another cliff.

Dr. Onukwuli,

a legal scholar and public affairs analyst, writes from Bolton, UK.

In spite of remarkable broadband penetration, access is still difficult, writes SONNY ARAGBA-AKPORE

BROADBAND ACCESS AND AFFORDABILITY

Even when it seems that Nigeria wobbles on the road to broadband penetration especially as its quest to meet its own 70% set target appears unrealistic going by the National Broadband Plan(2020-2025), the country is not alone .

The United Nations (UN) body on information and communications technology (ICT) the International Telecommunications Union (ITU) and United Nations Education,Scientific and Cultural Organization ( UNESCO ) are more worried.

The ITU in collaboration with UNESCO created Broadband Commission in July 2010, and it was specifically to ensure broadband connectivity as part of global Sustainable Development.

But when they met in Geneva,Switzerland on July 6,2025 to mark the 15th anniversary of the commission, and take stock of what has been achieved in broadband connectivity in 15 years, its verdict was not very comfortable.

“In this landmark year for the Broadband Commission, it is heartening that 95 per cent of humanity is within reach of broadband, however, the real challenge is ensuring that everyone can afford access, express themselves, and use information in a meaningful way," according to Tawfik Jelassi, UNESCO Assistant Director-General.

Speaking further, he said “UNESCO, together with its partners, is working to address the barriers – including those related to skills development and local language content – to ensure that the promise of connectivity for sustainable development becomes a reality for all."

What this means is that though broadband penetration is possible for 95% of global population, the twin problems of access and affordability remain hard nuts to crack.

Are ITU and UNESCO in a dilemma?

The meeting last week in Geneva threw more light on this. "The Broadband Commission´s work over 15 years has helped change global connectivity and digital development," said Carlos M. Jarque, representing Carlos Slim Helu ,Co-Chair of the Commission.

"Since 2010, the number of Internet users has grown by the billions. To expand on this progress, we need to encourage forward-looking regulatory frameworks, strong investment, digital transformation in businesses and public institutions, and digital skills of the population."

With 2.6 billion people around the world still offline, the Broadband Commission's work serves as a policy and programmatic guide for national and international action in broadband development and for achieving universal connectivity.

“Fifteen years ago, we began with the simple conviction that broadband must reach everyone, everywhere, because it is an essential driver of sustainable development," said President Kagame, CoChair of the Commission.

“Today, broadband powers economies, expands access to knowledge in rural as well as urban areas, and brings communities closer, across continents."

The United Nations Broadband Commission for Sustainable Development met in Geneva, Switzerland, July 6, 2025 to commemorate 15 years of advancing universal broadband access and digital inclusion.

The meeting took place as digital technology communities get set to join together for the World Summit on the Information Society (WSIS)+20 HighLevel Event 2025 and the AI for Good Global Summit 2025, which also took place in Geneva last week.

Founded in 2010 by the International Telecommunication Union (ITU), the United Nations Educational, Scientific and Cultural Organization (UNESCO), co-Chaired by President Paul Kagame of Rwanda, and Carlos Slim Helú, a Mexican investor and philanthropist, the public-private collaboration has elevated universal broadband connectivity to the forefront of global policy discussions.

Commissioners, including global leaders, CEOs and heads of international organizations, have championed broadband as a cornerstone of economic

growth and sustainable development.

Once seen as technical infrastructure, broadband is now central to national competitiveness and essential services that benefit economies, governments, and societies.

“Since our first gathering in 2010, this Commission has put broadband at the front and centre of every global development conversation, and consistently championed connectivity by setting ambitious targets for access, use, affordability, skills and policy," said ITU Secretary-General Doreen Bogdan-Martin, Co-Vice Chair of the Commission. “This work has been transformative for expanding digital connectivity, and is a valuable precedent for future collaborative, multistakeholder work to connect the unconnected."

During the meeting, the Broadband Commission reviewed the results of the Data Governance Toolkit: Navigating Data in the Digital Age. The toolkit provides practical guidance for policymakers reviewing data regulation, crossborder flows, and responsible data use in the era of AI and emerging technologies.

The Commission's Working Group on Data Governance report was formally issued on Tuesday, July 8 at the World Summit on the Information Society (WSIS)+20 High-Level event 2025.

The Broadband Commission for Sustainable Development was established in 2010 by ITU and UNESCO with the aim of boosting the importance of broadband on the international policy agenda and expanding broadband access in every country as key to accelerating progress towards national and international development targets. Led by President Kagame and Carlos Slim Helù of Mexico, it is co-chaired by ITU's Secretary-General Doreen Bogdan-Martin and UNESCO Director-General Audrey Azoulay. It comprises over 50 Commissioners who represent a cross-cutting group of top CEO and industry leaders, senior policymakers and government representatives, and experts from international agencies, academia and organizations concerned with development.

The ITU Facts and Figures released on November 27, 2024 indicated that an estimated 5.5 billion people were online in 2024.This was an increase of 227 million individuals based on revised estimates for 2023, according to new figures from the ITU.

The estimates featured in ITU's Facts and Figures 2024 show that connectivity continues to increase worldwide but reveal the complexities of reaching communities in low-income countries.

Aragba-Akpore is a member of THISDAY Editorial Board

Editor, Editorial Page PETER

ISHAKA

Email peter.ishaka@thisdaylive.com

THE UNENDING KANO EMIRATE CRISIS

The influence of the emirate is gradually being eroded

Tension rose again recently in the Kano Emirate following a clash between supporters of the 15th Emir, Alhaji Aminu Ado Bayero and those loyal to the 16th Emir, Muhammadu Sanusi II. In the unfortunate incident, which occurred at the Kofar Kudu area of the metropolis, some police vehicles were smashed while the palace main gate was damaged. Some of the guards and other innocent people were also injured. According to many reports, the situation could have been worse in one of the country’s most fragile cities but for the prompt intervention of security personnel who dispersed the hoodlums with tear gas. The Kano State Police Command has set up a panel to investigate the altercation.

While we wait for the outcome of the investigation, the ugly incident has again reawakened the protracted crisis in an institution that has for centuries remained the beacon of tradition and pride, following the decision to reinstate Muhammadu Sanusi II as the 16th Emir of Kano in May 2024. He had been deposed four years earlier by then Governor Abdullahi Ganduje who created four additional emirates from the Kano Emirate, and appointed Bayero as Emir of Kano. However, Governor Abba Kabir Yusuf returned Sanusi as the emir, following a repeal of the law that created additional emirates by the State House of Assembly. Although the move was challenged by some Kano stakeholders, Sanusi holds court in the main palace while Bayero has continued to occupy the Nassarawa Palace under a heavy security presence from federal authorities.

ence on the people of the cosmopolitan city, the state and indeed beyond. The death of 13th Emir of Kano Alhaji Ado Bayero, who ruled from 1963 to 2014, was said to have opened the emirate to a complex power game. The late Bayero himself was a subject of such political intrigue during the Second Republic when he was suspended by Governor Abubakar Rimi who also divided the emirate before his successor, Sabo Bakin Zuwo restored him to his original position.

The survival of the traditional institution in the country depends largely on the ability to shield the occupants from partisan interests

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

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

Many analysts have narrowed the dispute over the Emirship of Kano largely to politics. But that has always been the case. Kano State has premium political value because of its huge population. The Emir of Kano wields enormous influ-

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

At the centre of the current crisis are two political gladiators in the state who were once together. Former Governor Rabiu Musa Kwankwaso and his erstwhile deputy and successor, Ganduje, who was until recently the national chairman of the ruling All Progressives Congress (APC). While the appointment of the former Central Bank of Nigeria (CBN) Governor as the 14th Emir of Kano in 2014 was at a period Kwankwaso and Ganduje were together, events took a different turn when they fell apart. After removing Sanusi, Ganduje appointed Bayero as successor, although it was not for long. In what was interpreted as a retaliatory measure, Governor Yusuf, an ally of Kwankwaso, deposed Bayero and reappointed Sanusi as the 16th Emir. Evidently backed by some forces in Abuja, Bayero has refused to quit, with the battles now being fought in several courts. In the process, the influence of the once powerful and respected emirate is increasingly being eroded while the combatants have been reduced to pawns in the hands of powerful politicians. Now Kano has become a city with two emirs, both laying claim to the revered title and both using the courts to fight their battles. While we hope that critical stakeholders in Kano will come together to resolve the impasse, the survival of the traditional institution in the country depends largely on the ability to shield the occupants from partisan interests.

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

REBASING AN ECONOMY WITHOUT GROWTH

In recent times, conversations around economic rebasing have returned to the forefront of national discourse. Many governments, particularly in developing countries like Nigeria, are eager to announce updated GDP figures. But troubling signs abound: some of these figures are drawn from random databases, speculative projections, or even funded through foreign loans. This trend must be critically examined. As it is said, "You do not project or rebase your economy using random databases and speculative figures. Economic rebasing must reflect real growth and measurable activities. You do not borrow to rebase — that is economic deception."

Economic rebasing is not a political stunt. It is a technical exercise that involves updating the base year used to calculate a country's GDP, so that it better reflects the current structure of the economy. Done correctly, it reveals how various sectors are evolving — whether agriculture is shrinking, technology is rising, or new industries are emerging. But when rebasing becomes a tool to inflate economic size without substance, it misleads investors, distorts policymaking, and feeds public disillusionment.

In 2014, Nigeria rebased its economy and overnight became Africa’s largest economy. Yet that label did not translate into improved power supply, better infrastructure, job creation, or industrial growth. It was a paper gain — one that brought prestige without progress. Today, the narrative is resurfacing. Talk of another GDP rebasing exercise is in the air. But what’s

truly changed? Manufacturing is still crippled by poor electricity. Inflation is breaking records. The naira is still weak. Unemployment, especially among the youth, remains alarmingly high. It is economically unsound — even absurd — to borrow funds for the purpose of rebasing. Rebasing is meant to be a reflection of progress, not a product of borrowed projections. Doing so is not just wasteful; it is deceptive. How do you claim a larger economy when you are borrowing to measure it?

It’s like taking a loan to buy new mirrors for a broken house — the illusion might look good, but the foundation is still crumbling.

If a country is to rebase its economy, it must be based on verifiable economic activities, not donor-driven data modeling. It must reflect real sector performance — industries, agriculture, SMEs, services. It must not be funded through loans or foreign aid meant to decorate statistics. It must be part of a broader structural reform agenda, not an isolated PR move.

Economic truth-telling is essential to national development. A nation that rebases on fiction instead of fact is misleading both its citizens and the global community. We need honesty, not hype. Growth, not gimmicks. Let us stop chasing numbers and start building real progress.

Chief Sunny Onuesoke, Warri, Delta State

ONE IN THE CROWD, BUT NO LONGER

Press freedom is important, but so is press inclusion. Being able to tell the story to others is difficult if you can't hear the story. President Trump has banned the Wall Street Journal from his Scotland trip press pool, not because his real golf scores might be released, but because of what they have said about the Epstein report. One of the problems in life is that if people want something to stay hidden, lots of other people will want to find out their secret, many that probably couldn't care otherwise. There will often be people who are happy to sell out others for a reasonable price.

There is another worry, in that if the Wall Street Journal can't report freely they might go broke and thus Trump's lawsuit against them for $US10bn would be pointless.

Fight to protect press freedom, or it might just be the first of the freedoms you will lose.

Dennis Fitzgerald, Melbourne, Australia

Following the sustained investors’ confidence on the Nigerian equities market, total total transactions by foreign and domestic investors at the local bourse increased to N4.19 trillion in the first half (H1) of 2025, about 61.07per cent increase when compared to N2.6 trillion in first half of 2024.

The latest “domestic & foreign portfolio participation in equity trading” report released by the Nigerian Exchange Limited (NGX), showed that total transactions by both foreign and domestic investors in stocks trading sustained its positive momentum amid low yield in government securities, among other factors.

Analysis of the numbers showed that total foreign portfolio transactions moved to N1.12 trillion in H1 2025, representing an increase of 110.06 per cent from N540.48 billion in H1 2024, while total transactions by domestic investors in H1 2025 stood at N3.06 trillion, about 48.18

Nume Ekeghe

Nigeria’s external reserves grew by $200 million over the past one-month, climbing from $37.74 billion on June 18, 2025, to $37.94 billion as of July 18, 2025, official figures from the Central Bank of Nigeria (CBN) have shown.

The moderate build-up reflects a cautious but positive shift in the country’s external sector fundamentals. While not a dramatic surge, the $200 million increase signals improved dollar liquidity, aided by firmer oil

per cent increase from N2.06 trillion in H1 2024.

In the period under review, foreign and domestic investors transactions performance represented a new record for the stock market, driven by Pension Fund Administrators (PFAs) and domestic high network investors increasing participation. Consequently, the market capitalisation gained N13.2 trillion from N62.763 trillion at the beginning of the year to close at N75.961 trillion at the end of June 30, 2025.

The report revealed that in the H1 2025, Foreign Portfolio Investments (FPIs) now account for 27.08 per cent of transactions at the bourse, as against the situation in the previous year when foreign transactions amounted to 20.75 per cent of the market’s transactions.

On the other hand, the proportion of participation by domestic investors dropped from 79.25 per cent in the H1 2024 to 72.92 per cent in H1 2025.

The surge in foreign investors’ participation is in the backdrop of Central Bank of Nigeria (CBN)

revenues and growing portfolio inflows as confidence in Nigeria’s macroeconomic direction gradually firms.

THISDAY analysis of daily movements between June 18 and July 18 showed that the reserves experienced twelve days of positive accretion, especially from early July, interspersed with some minor declines between late June and the start of the new month. The most significant single-day increase occurred on July 14, when the gross reserve position jumped by $206.6 million from $37.43 billion on July

reforms in the foreign exchange market aimed at enhancing transparency, compliance, and market stability.

The reforms are part of the CBN’s broader strategy to create a fairer, more stable foreign exchange market and support economic growth through better monetary policies.

In tandem with these reforms, the CBN so far in 2025 has maintained status quo on Monetary Policy Rate (MPR), with the goal of curbing inflation and stabilising the naira, a move supported by the International Monetary Fund (IMF).

The NGX report indicated upbeat across the buy and sell sides of foreign transactions. Foreign inflows jumped to N559.25 billion in H1 2025,from N229.07billion in H1 2024.

Outflows, on the other hand, moved from N311.41 billion in H1 2024 to N576.09 billion in H1 2025.

Domestic retail investors transaction moved to N1.47 trillion in H1 2025, up by 47.5 per cent from N999.21 billion in H1 2024,

11 to $37.64 billion.

Between July 7 and July 18, reserves rose consistently on every trading day, a 10-day positive streak, indicating more orderly market operations and improved FX supply. The build up can also be attributed to the stability at the Nigerian Autonomous Foreign Exchange Market (NAFEM), where the naira has traded more freely under a managed float.

The trajectory, however, began on a cautious note. On June 19, the reserves slipped slightly to $37.71 billion, and continued on a

while domestic institutional investor transaction stood at N1.59 trillion in H1 2025, an increase of 48.96 per cent from N1.06 trillion reported by the NGX in H1 2024.

Analysts attributed the upbeat at the stock market to the increasing attractiveness of the Nigerian market to foreign investors, ongoing economic reforms, resilient earnings by Nigerian companies, exchange rate differential, ongoing banking recapitalisation and the reform in the oil sector.

The report stated that, the historical analysis of domestic and foreign transactions, revealed that over an 18-year period, “domestic transactions increased by 33.15per cent from N3.556 trillion in 2007 to N4.735 trillion in 2024; whilst foreign transactions also increased by 38.31per cent from N616 billion to N852 billion over the same period.

“Total domestic transactions accounted for about 85per cent of the total transactions carried out in 2024, whilst foreign transactions

downward trend for most of that week. By June 20, reserves had dipped to $37.66 billion. After the weekend break, the drop persisted, falling to $37.52 billion on June 23, followed by further declines to $37.47 billion on June 24 and $37.41 billion on June 25. The slide continued to $37.37 billion on June 26 and $37.31 billion by June 27, eroding nearly $420 million in value over the course of one week. By June 30, the reserves had dropped further to $37.21 billion, the lowest level for the month — indicating sustained

accounted for about 15per cent of the total transactions in the same period. The transaction data for 2025 shows that total domestic transactions are circa N3.058 trillion, whilst total foreign transactions are circa N1.135 trillion.”

Analysts believe the Nigerian stock market showed less volatility signs amid a new era of unpredictability, marked by tariff threats and rising global tensions, that may prompt emerging market investors to look for shelter in frontier markets that are relatively safe from US President Donald Trump’s trade policy shifts.

Speaking, the Vice President, Highcap Securities Limited, Mr. David Adnori attributed the increase in foreign investors participation to the clearing of foreign exchange backlogs by the federal government stressing that the move increased investors’ confidence and drove the rally in the stock market.

“The increase in yield on debt instruments attracted foreign

outflows or demand-side pressure on the foreign exchange market.

However, beginning in early July, the narrative shifted. Though the first few days of the new month reflected marginal losses, reserves stood at $37.19 billion on July 1, then eased to $37.18 billion on July 2 and July 3. A modest gain was recorded on July 4, with a slight uptick to $37.181 billion. This signalled the start of a turnaround. By July 7, the reserves jumped to $37.27 billion, then increased again on July 8 to $37.28 billion, and

investors to the debt market. The combination of all these factors increased FPI into the capital market. In summary, Nigeria’s high-yield environment, recent regulatory reforms, a large and growing market, and supportive international signals make it an attractive destination for foreign investors seeking growth and diversification,” he added. Analysts at Coronation in a report stated that fuel subsidy removal, liberalising the forex market and monetary policy tightening reforms by the present administration have played a pivotal role in turning the tide. The firm in a report titled, “Nigeria’s Bold Economic Reforms: How Investors Can Benefit from New Opportunities in 2025,” said the government, through CBN, removed its hard peg on the Naira and allowed the exchange rate to be influenced more by market forces.

continued rising on July 9 and 10 to $37.33 billion and $37.36 billion respectively. The upward momentum gained steam on July 11, when the reserves climbed to $37.43 billion. The most significant increase came after the weekend on July 14, when reserves surged to $37.64 billion, a daily gain of over $200 million. The upward trend held steady in the following days, reaching $37.78 billion by July 16, $37.85 billion on July 17, and finally hitting $37.94 billion on July 18, the highest level in over a month.

Kayode Tokede

Popoola, Fasua, Others Call for Unified Action on Capital Formation

Market leaders, policymakers, and government representatives have called for unified action to strengthen Nigeria’s capital market and accelerate capital formation as a pathway to national growth.

Speaking at the 2025 Chartered Institute of Stockbrokers (CIS)

National Workshop held at the Presidential Villa, Abuja, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc, Mr. Temi Popoola, urged stakeholders to align their efforts toward building a market capable of mobilizing long-term capital and advancing Nigeria’s $1 trillion economy

aspiration.

Popoola described the market’s recent resurgence as a direct outcome of deliberate reforms, improved macroeconomic signals, and technological advancements across market infrastructure. While acknowledging the momentum, he stressed that sustaining progress would require coordinated action

among industry players, regulators, and policymakers to strengthen industries, empower institutions, and deepen market structures.

“The capital market stands at a pivotal point in Nigeria’s economic journey,” Popoola said. “With deliberate reforms and a strong regulatory environment, we have an opportunity to position

MAN: FG’s ‘Nigeria First’ Policy Fruit of Years of Advocacy for Patronage

Dike

Onwuamaeze

The President of Manufacturers Association of Nigeria (MAN) has described President Bola Ahmed Tinubu’s directive that all Ministries, Department and Agencies of government must prioritise demand for locally made products and services as fruitful outcome of public advocacy mounted by the association and other members of the organised private sector.

Meshioye stated this in a press briefing to announce the oncoming “2025 Edition of the Nigeria Manufacturing and Equipment Expo (NME) and the Nigerian Raw

Materials Expo (NIRAM)” with the theme “Accelerating Sustainable Manufacturing through Cutting-edge Technology Solutions.”

He stated that the goal of the Expo is, “to showcase locally fabricated machines and equipment. Let’s jointly see what is possible in Nigeria and then lean on the strength of collaborating with foreign counterparts to improve locally manufactured goods.”

He added that “beyond the theme is the expectation we have in the policy direction of the federal government on ‘Nigeria First.’ As an association, ‘Nigeria First’ is not a mere policy statement but the fruit

of years of advocacy of patronage and support of what is ‘Made in Nigeria.’

The expo, which is organised by the Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC), will hold from August 5 to August 7, 2025 at Federal Palace Hotel, Victoria Island, Lagos.

He said that the theme is expected to drive the attention of stakeholders to engage on innovative technology solutions that would improve the process of manufacturing and in turn improve quality of products manufactured locally in Nigeria.

By embracing cutting-edge

technologies, we are heading towards a drive for innovation, resilience, and long-term value for our stakeholders.

He said: “Our focus is to spark conversations around deployment of energy-efficiency in our production facilities; implementation of smart factory technologies, including Internet of Things (IoT) and Artificial Intelligence (AI), to optimise resource use; waste reduction strategies through closed-loop systems and advanced recycling methods and engender partnerships with green tech innovators to co-develop scalable, sustainable solutions.”

Stakeholders Push for Transformation in Host Community Trusts at HCDT Roundtable

Senior executives, regulatory officials, and community development specialists have examined the progress and challenges of Host Community Development Trusts’ implementation under Nigeria’s Petroleum Industry Act (PIA).

Four years after the PIA made HCDTs a statutory requirement, the gathering provided a timely opportunity to evaluate what is working, what is not, and what strategic steps are needed to ensure these frameworks go beyond compliance to deliver meaningful development in host communities.

Organised by First Fiduciary Limited and AO2LAW, in partnership with the Nigerian Upstream

Petroleum Regulatory Commission (NUPRC), the roundtable brought together energy sector stakeholders to assess four years of HCDT operations, identifying effective practices and persistent obstacles that require strategic intervention.

Executive Chairman of First Fiduciary Limited, Mr. Bidemi Olumide, opened the forum by stating that HCDT is beyond mere regulatory compliance; it is an instrument for transforming relationships between energy companies and host communities. His remarks highlighted the critical role of transparent trust structures and sustained community impact.

Assistant Director and

Head of the Host Community Development Branch at NUPRC, Olatokunbo Karimu, presented comprehensive data on current HCDT performance. His keynote revealed that over $150 million has flowed into HCDT accounts, with automated compliance systems like HostComply now operational, and capacity development programs underway. Despite these advances, Karimu acknowledged persistent challenges in skills development, funding enforcement, and meaningful community participation, areas that require more deliberate and coordinated responses from all stakeholders.

The first session, “HCDT

Implementation: Addressing Challenges and Exploring Solutions,” moderated by Managing Director of First Fiduciary Limited, Mr. Oyeyemi Oke, examined operational bottlenecks and real-world execution issues. “The success of the HCDT framework depends not just on compliance, but on credibility, we need to move from ticking regulatory boxes to building systems that communities can trust and engage with. That’s where real development begins,” Oke emphasised during the discussion. The session reinforced the idea that comprehensive needs assessments and inclusive planning are essential to trust sustainability.

the market as a key enabler of long-term capital formation, one that supports industries, empowers institutions, and scales our economy to new heights.”

Echoing this sentiment, the Chairman of Nigerian Exchange Group, Umaru Kwairanga, stressed the importance of aligning capital market activity with the broader national economic agenda. He underscored the market’s role in financing infrastructure, supporting enterprise, and attracting both local and foreign investment as Nigeria pursues sustainable growth.

The President and Chairman of Council of CIS, Mr. Oluropo Dada, affirmed the Institute’s commitment to fostering professionalism and integrity within the capital market, noting that a resilient and ethical market is critical to sustaining investor confidence and deepening participation.

Director General of the Securities and Exchange Commission, Dr. Timi Agama, also underscored the Commission’s role in enabling capital formation as a core mandate

of the market. “Beyond investor protection and market development, our responsibility is to build a market where we can pool resources to power national growth. A $1 trillion economy may be a tall order, but with deliberate effort and the right structures, it is within reach,” Agama stated. He stressed that achieving this target would depend on collaborative effort across all segments of the financial market ecosystem.

Minister of State for Finance, Dr. Doris Anite, speaking on behalf of the federal government, underscored the administration’s recognition of the capital market as a critical partner in financing national development. Candid in her assessment of Nigeria’s economic targets, Anite emphasized the urgency of action, stating, “If we are to meet our ambitious targets, we must expand access to long-term capital, foster investor confidence, reinforce institutional frameworks, and above all, forge stronger linkages between capital markets and the real economy.”

The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has pledged the NCS’s commitment in ensuring that the recently launched B’Odogwu system is transformed into a first class trade facilitation platform for the country.

Speaking at a town hall meeting with stakeholders on B’Odogwu clearance systems, Adeniyi, said with all the clarity of the system, they are now resolute to transform the platform into a world class trade facilitation platform for trade modernisation.

integration system introduced by the Nigeria Customs Service.

On his part, the Chairman Trade Modernisation Project Limited, Dr. Saleh Ahmadu, said they are very grateful for the strong engagement and trust by all stakeholders, that indeed Nigeria can stand for itself, and Nigerians can make a difference in trade facilitation.

According to him, “The continuous support of stakeholders in the trade ecosystem is essential for the successful implementation of this homegrown, home-owned, home-managed and home-beneficial project.”

Gratuity Payment: PenCom to Seek Amendment of Law

Ebere Nwoji

Actuarial Scientist and Chairman Chief Executive officer of Anchor Actuarial Services, Dr Pius Apere, has said that recent proposal by the Director General National Pension Commission (PenCom), Ms Omolola Oloworaran, to introduce gratuity benefits for public servants under the Contributory Pension Scheme (CPS) must be backed by law.

Before Implementation

This, according to him, means that the initiative would require an amendment to the PRA 2014, particularly Section 7(1) (a) of the Act to avoid duplication of payment of lump sum benefits. Apere disclosed this in a recent statement titled rationale behind retirement benefits for CPS under PRA 2014.

He recalled that during a meeting held in June 2025, between the

PenCom DG and Head of the Civil Service of the Federation (HCSF), the PenCom boss had muted the idea of paying workers gratuity under the CPS.

He said this cannot just be done without recourse to the law establishing CPS.

“Any decision to reinstate gratuity scheme into the CPS must be backed by law, which will require an amendment to the PRA 2014,

particularly Section 7(1) (a) of the Act to avoid duplication of payment of lump sum benefits. In the same vein, state governments are likely to introduce similar gratuity schemes for the state public servants. The only possible constraint will be the Federal and state governments’ ability to fund their gratuity liabilities including the cost of actuarial valuation whether as standalone scheme or embedded in CPS,” he said.

According to him, “Technology is not cheap. As we migrate from one system to the other, we make a lot of investments in technology rollouts. We are going to be talking about scanners, system upgrades, and all of that. And our plan is to make B’Odogwu a reference point in trade facilitation.

“Now that the chairmanship of the WCO is with us, we also want to show the world that we can take in our trade, manage it by a system that is indigenously developed. So at the end, in the next three years, it is going to be Oduku to the world, and Nigerians will see that we have a system that can work. However, technology everywhere is capital intensive.”

B’Odogwu is a locally developed digital trade facilitation and

For the Deputy ComptrollerGeneral of Customs, ICT/ Modernization, Nigeria Customs Service, Kikelomo Adeola said that the essence of the gathering was captured in the theme: ‘Enhancing Trade Compliance and System Optimization Through Stakeholder Engagement’

According to her, “This Town Hall is not just another event; it is a strategic platform to engage our valued partners in trade on the B’Odogwu Clearance System. Since its phased deployment, B’Odogwu has demonstrated tremendous potential in enhancing clearance efficiency, improving cargo visibility, and boosting revenue generation. Yet, like every major reform, its success depends on how well we carry along the people it was built for, that is you.”

Kayode Tokede

Oluchi Chibuzor

L-R: Assistant Director, NUPRC, Olatokunbo Karimu; Executive Chairman First Fiduciary Limited, Mr. Bidemi Olumide; Lead Senior Associate, Mrs. Frances Nwakobi-Onuigbo; Manager, Health Safety Environment & Community Division, NUPRC, Mrs. Omolade Atinuke Awah and Managing Director, First Fiduciary Limited, Mr. Oyeyemi Oke at the HCDT Roundtable 2025 organised by First Fiduciary and A02LAW in partnership with NUPRC… recently

Chiemeka: GTCO LSE Listing is Testament MOU With NGX has Benefits

In this interview on the side-lines of Guaranty Trust Holding Company Plc listing on the main market board of the London Stock Exchange, Chief Executive Officer, Nigerian Exchange Plc, Jude Chiemeka speaks on the significance of GTCO’s successful listing, NGX’s MOU with LSE, why companies with ESG policies are attracting a lot of liquidity and other thorny issues in the economy and capital markets. Eromosele Abiodun presents the excerpts

The listing of Guaranty Trust Holding Company Plc on the London Stock Exchange (LSE) speaks a lot about how far Nigerians companies have come. What does it mean to you as an exchange?

Alright, thank you. So, when you think about what we do at the NGX, we are a platform provider that will enable issuers to raise capital. And at the same time, we have a lot of investors on the retail side and institutional side, both international and domestic, that provide this capital to the issuers.

As a multi-asset exchange, we try to use different asset classes for these issuers, from equities, to fixed income, to ETLs, and more recently now, derivatives.

Now, so, we are also mindful about regulation, as a listing destination, right? So, investors’ protection is key, so that investors can be protected as the issuers undertake these issuances that they do. And from a governance perspective, I think GTB Bank has, or GTCo has demonstrated a strong governance structure.

Even as a listed entity on the NGX, you see that a lot of internationals buy their shares because of the heightened level of corporate governance the company undergoes. And now that they are listed on the London Stock Exchange, we see it as a good thing, in terms of the level of governance that will go through here. But beyond that, we think it will also help create more liquidity for the shares that we have.

As you are aware, we have an MOU with London Stock Exchange, so this is not the first company to undergo this sort of arrangement. We have Seplat, we have Airtel. You can see the level of liquidity those companies continue to enjoy.

So, it’s a good thing. We congratulate GTCO for taking this initiative to list on the London Stock Exchange. We believe that it will help also position them to be able to attract more international capital, which is, at the end of the day, the essence of exchange listing.

We also think it will help improve liquidity, not just for international institutional investors, but being listed on the LSE we expect them to also have access to retail investors on the LSE. You will recall that they had done a GDR that led to the metamorphosis of this initiative. So, we think that from the MOU we have London Stock Exchange, we are beginning to see the benefits of such interaction.

At the end of the day, what we expect is listed corporates should have good corporate governors. And if you think about what is going on now around ESG, we see companies that have ESG policies attracting a lot of liquidity. So, we are really happy that this will also help other institutions to begin to look at emerging trends as they structure and position their companies.

It is not about profits anymore. It has to be a careful environment, it has to be careful governance, and it has to be social impact. GTCO has demonstrated that and we believe that it’s a good thing, not just for the exchange, but for the entire country.

It puts Africa in a good light because it’s a proudly Nigerian company with an international focus. And we do have a lot of companies, even in the banks, who also have international focus. So, we think that this will open up more opportunities in that space.

Now, you talk about ESG governance, what are you doing as an exchange to get more listed companies to abide by this new trend?

So, the exchange is very committed to sustainability. First, we are a member of the UN Sustainable Stock Exchange Initiative. We also have these sustainability guidelines that we have issued for corporates to follow. It is not compulsory, but for them to see the value in it. And we have seen a lot of corporates, SEPLAT, MTN, go that route, and we can see what it does. A lot of investors are interested in such companies, and they have this sense of market equity.

The other thing to also bear in mind is the Sustainability Standard Board adoption. We have done a lot of trainings, and we will continue to do trainings through our regulatory arm as an exchange, so that corporates understand their obligations, their financing, post-job. We have our ex-academy, which is our learning arm, that has been significantly involved in all these things, working with the UN Sustainability Stock Exchange Institution to provide the required trainings as companies begin to adopt the sustainability standards in their financial reporting.

We will continue to do more of that, because businesses, as you very much know, have since moved from profitability to sustainability, and we encourage listed corporates to do all these things in line with international best practices, all in a bid to get more investors, because international investors are now moving along those lines. You will also recall that we are very much involved in sustainability on its own. Recently we had a sustainability engagement with IFC.

We do have an MOU with International Finance Corporation (IFC), and it’s also trained corporates around the use of sustainable or laboured bonds to raise capital. So we talk about the green bonds, we are working with the Federal Minister of Environment, we are also working with the blue economy to ensure that they are able to raise bonds along their line of interest to be able to meet some of those climaterelated issues. Nigeria is in a very position where we think that because of the strong domestic PFA that we have, companies and governments will be able to raise capital along these lines of sustainability – green bonds, blue bonds – and you will see a lot more engagement from this change along those lines.

The stock market is thriving despite the high interest rate, as against the norm where the stock market is bullish when you have lower interest rates. What would you say is responsible for this, and do you think this will continue?

So, when you look at the market, the market is a barometer of the economy, so it’s forward-looking. So all the various reforms that this government has undertaken in the last couple of months is basically what the market is reacting to. Away from the devaluation, assets have been reprised, high inflation, so equities is not an exception, it’s also an asset, and if you see the prices of goods and services, they’ve all gone up, so you expect equity prices to also adjust with that. But what is really driving the interest?

If you think about what the percentage of international investors in our market was before the election, it fell to 4%.

Last year, it came to 15%. This is a market, traditionally, where you have 50% international participation in the secondary market and 50% domestic. Falling to 4% was as a result of weak macro and FX illiquidity.

You can see that the FX liquidity issue has improved significantly. So, year to date, international participation in our market is in the region of 30%. So there has been renewed interest, just from a liquidity perspective.

If you think about where we fall as a market, as a frontier market, you look at the dynamics, the PE ratio of our market, the dividend yield of our market, our market is still grossly undervalued. What was hampering it was low demand, orchestrated by these FX challenges. Now that that appears to have been resolved, we can now begin to see the market take form.

And being a barometer of the economy just shows you how the economy is improving, because people are buying it and these are long-term assets that are being bought with a long-term view. So it shows

you that there is renewed confidence in the market, because all these internationals are coming back, because they can see the impact of the reforms. And this tax, recent tax bill, just adds more to it, because

it will help preserve some form of savings, and we expect to see more retail investor participation. The banking recapitalization and the use of technology to drive participation that we did last year, is also one of the many things that have helped improve participation in our market, from the institutional side, also from the retail investor side. We have a market of 3 to 4 million retail investors. Active number of retail investors two years ago was less than 100,000.

Today that number, because of the digital platform that we use for the bank’s recapitalization, the number is close to a million retail investors. So you will see more investor participation from retail to institutional, domestic and international in our market, as the market plays catch-up to the depression so far as a result of weak macro, which is improving, FX liquidity, which is now a lot better than it was before. Will it continue?

As you are aware, the market responds to several things, apart from the performance of the company, there’s a market here, there’s supply and demand. From the exchange perspective, I think the regulation of the market is also one of the things that builds confidence. The market is well regulated. In the last couple of years, we haven’t had any significant infraction of the market because of heightened regulation the exchange has adopted.

But beyond that, the technological backbone of the market is also critical. In the last six years, we have never had a downtime. There has never been a day where we haven’t been able to trade because we have a robust trading platform, world-class, NASDAQ that we use.

The story continues online on www.thisdaylive.com

Chiemeka

LCCI Tasks Federal Government on Policy Implementation, Long-term Planning

Dike Onwuamaeze

The Lagos Chamber of Commerce and Industry (LCCI) has tasked the federal government to focus on policy implementation and long-term economic planning rather than rhetoric and short-term fixes.

This task was delivered by the President of LCCI, Mr. Gabriel Idahosa during the chamber’s “Mid-Year 2025 Economic Outlook Review” that he described as a significant platform for engaging critical thoughts and actions around Nigeria’s economic journey.

Idahosa said: “We must move from policy rhetoric to implementation, from isolated efforts to integrated strategies, and from short-term fixes to long-term planning.”

He said that it would take deliberate and coordinated efforts to unlock these potentials inherent in the country’s youthful population,

abundant natural resources, entrepreneurial energy, and strategic location made Nigeria uniquely positioned to become a regional powerhouse in innovation, manufacturing, and agribusiness.

He said: “As stakeholders in economic development, we call for deeper collaboration between the public and private sectors. There is a need to strengthen investor confidence through predictable policy environments, legal clarity, and responsive governance.

“Regulatory agencies must avoid abrupt decisions that increase the cost and complexity of doing business. The government must also prioritise infrastructure financing, ease of tax compliance, digitisation of public services, and institutional reforms that enhance transparency and reduce the cost of governance.”

He added: “Despite the challenges confronting us,

Nigeria remains a land of vast economic promise. The digital economy continues to offer exponential possibilities, especially in areas like health tech, education, logistics, and financial services.

“The African Continental Free Trade Area (AfCFTA) presents opportunities for regional trade expansion, value chain integration, and industrialization. Similarly, climate-smart investments and green financing present emerging avenues for sustainable economic growth.

“However, unlocking these potentials requires deliberate and coordinated efforts. We must improve broadband infrastructure, invest in vocational training, promote domestic manufacturing, and support innovation hubs nationwide,” adding that “local content development, diaspora engagement, and targeted investment promotion strategies are also critical.”

Polaris Bank Empowers Youths in Ajegunle Community and Environs

Polaris Bank, a leading digital commercial institution in Nigeria, proudly supported the 2025 Maracana Children’s Fest, a transformative grassroots event promoted by Nathaniel Idowu Foundation held at the iconic Maracana Stadium in Ajegunle, Lagos. The event, which brought together over 3,000 primary and secondary school pupils, students, their families, and community leaders, highlighted the bank’s commitment to youth development and social inclusion.

The festival celebrated youth empowerment through sports, creativity, and community engagement.

Polaris Bank provided vital support to the event, including contributions to meals, palliative food packages and assorted functional mementoes distributed to participants and their families.

Managing Director of Polaris Bank, Kayode Lawal, who was represented by the Head, Brand Management & Corporate Communication, Rasheed Bolarinwa commented: “We are proud to support the Maracana Children’s Fest and contribute to such a meaningful community initiative. This event allowed us to connect with the next generation and

their families, promoting both youth development and financial inclusion. Our support for this event is a reflection of Polaris Bank’s commitment to supporting communities and empowering young people through initiatives that align with our values.”

The event also featured notable dignitaries, including 7 former Super Eagles players, whose presence helped amplify the excitement and significance of the day. Their involvement not only inspired the participants, but also contributed to a heightened sense of community pride.

Auto Bucks Lenders Hosts Annual Regional Customer Forum in Ibadan

Auto Bucks Lenders, a subsidiary of the pan-African financial supermarket Alert Group, has hosted its annual regional customer forum in Ibadan.

The well-attended event brought together a diverse mix of stakeholders including loyal customers, board representatives, executive members, staff, market association leaders, religious figures, government officials, and community partners.

Speaking at the forum, Group CEO of Alert Group, Dr. Kazeem Olanrewaju, commended the Ibadan branch for its exceptional performance since inception. He highlighted the group’s remarkable financial progress, including over 100% growth in profitability

and strong performance across key indicators such as total assets, gross loan portfolio (GLP), and shareholders’ funds.

Olanrewaju attributed this success to the steadfast loyalty of customers, resilient leadership of the Regional Manager, Ashiru Abideen, and called for continued support as the institution looks to scale even greater heights.

He also hinted at an upcoming free community health initiative to be sponsored by the institution, which would include eye checkup, prescriptions, and distribution of medicated eyeglasses to residents of Ibadan all at no cost.

The Ibadan branch, which

previously made headlines for achieving a 0% Portfolio at Risk (PAR) in its first year of operations, has now surpassed a GLP of N3 billion in just two years. This milestone reflects the branch’s strong asset quality, disciplined lending practices, market acceptance, and growing social impact.

Auto Bucks Lenders CEO, Adetoun Olasunkanmi, expressed excitement about the group’s expansion plans into additional South-West states. She also urged attendees to take full advantage of the recently launched WASH Loan Product, developed in partnership with Aqua for All, aimed at supporting sustainable ventures.

IMF’s First Deputy Managing Director Returns to Harvard

The International Monetary Fund (IMF) has announced that Gita Gopinath, its First Deputy Managing Director (FDMD), will step down from her position at the end of August to return to Harvard University. Gopinath, who joined the Fund in 2019 as Chief Economist and became the IMF’s number two official in January 2022, is set to assume a new role as the inaugural Gregory and Ania Coffey Professor of Economics at Harvard’s Department of Economics.

Managing Director, Kristalina

Georgieva announced recently that Gita Gopinath, First Deputy Managing Director (FDMD), will be leaving the Fund at the end of August to return to Harvard University, where she will be the inaugural Gregory and Ania Coffey Professor of Economics in the Department of Economics. Ms. Gopinath joined the Fund in January 2019 as Chief Economist and was promoted to First Deputy Managing Director in January 2022. In making the announcement Georgieva said: “Gita has been an outstanding colleague an exceptional intellectual leader, dedicated to the mission and members of the

L – R: Brand Management Director, SO&U, Idongesit Iniama; Group Managing Director, Udeme Ufot; Executive Copywriter, Chidera Okpala (winner of Rising Star award) and, Associate Director, Strategy and Planning, Aniekan Ufot during the Association of Advertising Agencies of Nigeria 52nd AGM & Dinner Awards Ceremony held in Ibadan... recently

Fund, and a fabulous manager, always showing genuine care for the professional standing and wellbeing of our staff. She came to the Fund as a highly respected academic in macroeconomics and international finance. Admiration for Gita only grew through her time at the Fund, where her analytical rigor was paired with practical policy advice to the membership during an especially challenging period, which included the pandemic, wars, the cost-of-living crisis, and major shifts in the global trading system.”

Saharan Blend (Algeria), Djeno (Congo),

(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).

Nume Ekeghe

Lafarge Reports N269bn Revenue as Board Approves Merger With UniCem, Atlas

Kayode Tokede

Lafarge Africa Plc has announced

a record a sales revenue of N268.63 billion for the second quarter (Q2) ended June 30, 2025. This is as the management has approved its merger with both United Cement of Nigeria (UniCem) and Atlas Cement Company Limited-a bag handling and cement distribution company.

“The board authorised the firm to enter into any agreement and

do all that is necessary to negotiate and implement the merger among UniCem and Atlas Lafarge will seek the approval of the Securities and Exchange Commission (SEC) and all other relevant regulatory bodies in furtherance of the implementation of the merger.” Said Edith Onwuchkwa, company secretary of Lafarge Africa.

However, the N268.63 billion revenue generated in Q2 2025 represents an increase of 70 per cent from N157.80 billion that was

recorded in the corresponding period in 2024.

A breakdown of the unaudited result revealed that the company’s operating profit for Q2 grew from N47.70 billion in the corresponding period in 2024 to N120.61 billion, representing a 153 per cent increase. The rise in operating profit was largely due to topline growth and operational efficiency of the company.

According to the provisional results released by Nigerian Ex-

change Limited (NGX), Profit After Tax for the second quarter rose by 248 per cent from N24.16 billion in Q2 2024 to N84.03 billion in Q2 2025. This rise could be attributed to strong operational performance, relative stability of the naira with no significant FX losses.

The Chief Executive Officer, Lafarge Africa, Lolu Alade-Akinyemi, in a statement, explained that the exceptional performance recorded by the company in Q2 was driven by innovative product offerings,

strategic operation and distribution efficiency.

“Following our impressive Q1 results, Q2 performance showcases the strength of our team, market positioning, operational efficiency, cost management, and dedication to value creation. We achieved excellent financial results in Q2, with Net Sales growth of 70 per cent, Operating Profit up 153 per cent, and Profit After Tax growth of 248 per cent.

“This strong performance closes

H1 with a sales and operating profit growth of 75 per cent and 144 per cent respectively. This performance is driven by our innovative product offerings and strategic operational Initiatives,” Alade-Akinyemi said. He noted that the company remains mindful of the ever-evolving macroeconomic conditions, and is confident to continue to deliver value by focusing on its strategic priorities, while leveraging innovation and green growth, in line with its sustainability ambitions.

PRICES FOR SECURITIES TRADED ASOF JULY/22/25

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

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

floor of the Nigerian Stock Exchange.

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

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 21 Jujy-2025, unless otherwise stated.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

NDDC 25th Anniversary: Ogbuku’s Leadership Creating Enabling Environment in Niger Delta

Blessing Ibunge reports that for the past 25 years, the Niger Delta Development Commission, NDDC, has been the vehicle that has driven the Niger Delta region to witness evidential, rapid, and sustainable development in communities across the region, irrespective of challenges at the onset of the Commission in 2000

In the last 25 years, the Niger Delta Development Commission (NDDC), has been the major vehicle for the rapid and sustainable development of the Niger Delta region. Having passed through various leaderships, the current leadership, led by Dr. Samuel Ogbuku as the Managing Director of the Commission, has achieved remarkable success in the development of the region. Taking off on the wings of the Oil Minerals Development Commission (OMPADEC) in 2000, the NDDC has grown into a symbol of federal presence in the oil-rich Niger Delta region.

THISDAY observed, in the past week, how the NDDC celebrated its achievements, beginning with a thanksgiving service in Akure, Ondo State, on 6 July, drawing stakeholders and Niger Deltans to express gratitude to God for the Commission’s journey so far. The celebration moved from spiritual reflection and thanksgiving to strategic communication, with a World Press Conference held in Asaba, Delta State, on Monday, 7 July. There, members of the Fourth Estate across all media gathered in what was perhaps the most extensive media engagement of its kind. The NDDC Managing Director, Dr. Ogbuku, reaffirmed the Commission’s commitment to its motto of “making a difference.”

Dr. Ogbuku stated that the President gave them a marching order during their inauguration to positively turn things around in the Niger Delta region, noting that the presidential directive has continued to guide the Board and Management as they pursue legacy projects across the region.

“The NDDC, which came on the back of other intervention agencies, was mandated to drive development in Nigeria’s oil-rich region. Its mission is to facilitate the rapid, even and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerating and politically peaceful.”

Developmental Achievements in the Niger Delta Region

From electricity restoration in Ondo to road linkages in Bayelsa and Akwa Ibom, the NDDC’s impact was showcased in clear, tangible terms. “We commissioned the 45-km double-circuit 33KV feeder line from Omotosho Power Station to Okitipupa in Ondo State,” Dr. Ogbuku recalled, “bringing electricity back to 25 local governments after 15 years in darkness.” This was just one of several landmark interventions highlighted during the press briefing, underscoring the Commission’s renewed vigour under the current leadership.

The Managing Director spoke about the setbacks caused by years of instability in leadership. “Frequent changes in management and boards have slowed our progress,” he admitted. “But today, we are targeting legacy projects. Our mandate is to complete those critical projects.” He emphasised that the Commission had transitioned from a transactional mindset to one of transformation, including the digitisation of procurement processes to ensure transparency and accountability.

Speaking on changing the narrative and institutional reforms, Dr. Ogbuku said: “We have led a strategic paradigm shift, embracing a new approach centred on transparency, accountability, and stakeholder collaboration to reposition the NDDC as a development catalyst rather than a bureaucratic entity. Through the initiative of the Board and Management, we have restructured the administrative architecture of the Commission back to its 13 statutory Directorates, and introduced robust Corporate Governance protocols, including KPIs and SOPs, through collaboration with KPMG. This formalised a value-driven institutional culture anchored on ethics and performance.”

He mentioned other flagship projects across five states delivered within 10 days in May 2024, to include roads, bridges, and power infrastructure. According to him, in Abia, the Commission delivered the Obehie-Oke-Ikpe Road; the 27km Ogbia-Nembe Road (Bayelsa State); 6km Iko-Atabrikang-AkataOpulom-Ikot Iwang-Opulom Road; the 600m Ibeno Bridge in Akwa Ibom State; the 45km dual-circuit 33KV feeder line (Omotosho-Okitipupa) in Ondo State; and a 15MVA 33/11KV substation (Amufi) in Edo State.

On health and social welfare intervention, he disclosed: “We constructed modern Primary Healthcare Centres, revived free medical programmes delivering over 20,000 surgeries, treated 45,000

25 Years

State Deputy Governor, Dr Chinyere Ekomaru (left); the Minister of State for Regional Development,

(3rd left); Minister of Regional Development, Engr Abubakar Momoh,

Chiedu Ebie (2nd left); the Administrator of Rivers State, Admiral Ibok-Ete Abas

NDDC, Dr Samuel Ogbuku

the Chairman NDDC Governing

during NDDC 25th Anniversary, Plenary Session, in Rivers State

The NDDC Managing Director, Dr. Samuel Ogbuku (right), receiving the Nigerian Union of Journalists, NUJ, Delta State Council award, through its Chairman, Mr Churchill Oyewe, during the World Press Briefing in Asaba

patients, and distributed essential supplies to rural communities.”

On education, skills development, sustainable energy, and security enhancement, he also told media representatives at the conference that: “We have revitalised the Foreign Postgraduate Scholarship Programme, rehabilitated schools, and distributed educational materials. We have aligned youth empowerment by transitioning the Youth Volunteer Programme into a 10,000-trainee internship programme (₦50,000/month) and launching the Project HOPE skills initiative. We have deployed over 7,000 solar-powered streetlights across all nine states in the region. This has improved security, public safety, and clean energy adoption, and is potentially creating carbon credit opportunities.”

He added that the NDDC has shown serious commitment in agriculture and livelihood support: “The NDDC has partnered with cassava farmers and the ITF Skill-Up Artisan Scheme to elevate productivity and equip youths with trade and entrepreneurship skills.”

In his speech at the conference, the Chairman of the Governing Board, Mr. Chiedu Ebie, stressed the importance of collaboration, particularly with the media, whom he described as “critical stakeholders” in advancing development. The Executive Director of Finance and Administration, Alabo Boma Iyaye, noted that the celebrations would run until Saturday, 12 July, culminating in a gala night and plenary session in Port Harcourt.

Perhaps the most significant message from the silver jubilee celebration is the renewed hope that the Niger Delta can finally experience holistic and sustainable development. According to Ogbuku, “Through the initiative of the Board and Management, we have restructured the administrative architecture of the

Commission to its 13 statutory Directorates and introduced robust Corporate Governance protocols. This formalised a value-driven institutional culture anchored on ethics and performance.”

As the week-long celebrations continue across different states in the region, the NDDC appears determined not just to celebrate its past but to chart a bold course for the future. The people of the Niger Delta are watching—hopeful that the next 25 years will be defined not by promises but by lasting progress that transforms lives and communities, truly making a difference. The celebration also featured a movie premiere titled “Making a Difference”, which traced the Commission’s journey and told stories of transformation in communities once plagued by underdevelopment. For many observers, the film served as both an emotional tribute and a powerful reminder of the NDDC’s role in shaping the destiny of the region.

The Governing Board and Management of the NDDC have again proven to Nigerians— particularly the people of the oil-bearing Niger Delta region—that history does matter. They have also shown clearly that extraordinary personalities can upturn calculations and permutations. The above assertion was evidenced by the torrents of praise, accolades, and commendations poured on the Commission and its Management and Board by critical stakeholders during its week-long 25th anniversary celebration.

NDDC Receives Appraisal, Observation in Ondo, Imo, Delta and at Plenary in Port Harcourt, Rivers State

Beginning with Ondo State, one of the NDDC mandate states, Ondo Governor, Lucky Aiyedatiwa, hailed the management of the NDDC for the peace and development currently prevailing in the Niger Delta region. He said the Commission, under the current Management and Board, has succeeded in bridging developmental gaps in the region, noting that NDDC’s emphasis on partnerships and collaboration aimed at driving sustainable development across the Niger Delta has ushered in unprecedented progress.

Aiyedatiwa, who spoke at the thanksgiving service of the NDDC held at St. Thomas’s Anglican

Church, Akure, the Ondo State capital, stressed that the Commission has undoubtedly lived up to its established mandate, commending the Board and Management for their exemplary leadership and commitment. He hailed the Commission’s dedication to project conception, implementation, and completion, noting that the NDDC has established a culture of delivery and that the region would no longer witness the abandonment of projects as was the case in the past.

Aiyedatiwa said: “As we celebrate the Silver Jubilee of the NDDC, we must acknowledge the progress we have made and also recognise that there is still much work to be done, as the Niger Delta region continues to face significant development challenges, and we must work together to address these issues. I urge the NDDC to continue to improve on its activities, ensuring that projects are tailored to the needs of the communities we serve. Let us work together to unlock the potential of our region, promote economic growth and enhance the lives of our people. We are partners in progress, unity, and development.”

In Asaba, the Delta State capital, it was the same rain of praise. The Asaba monarch, the Asagba of Asaba, Obi Epiphany Azinge, was full of praise for the NDDC for its achievements in the past 25 years.

Obi Azinge spoke when Ebie led a delegation of the Commission’s Board and Management to pay a courtesy visit to him in his palace in Asaba, the Delta State capital. The Royal Father commended the NDDC for its interventions in several sectors across the Niger Delta region. He expressed delight with the foreign postgraduate scholarship programme, which had helped many youths from the Niger Delta upgrade their knowledge. He also acknowledged the contributions of the NDDC Chairman, whom he said had served the Delta State Government in different capacities. He noted that Ebie served meritoriously as Delta State Commissioner for Basic and Secondary Education and later, Secretary to the State Government. The monarch thanked the NDDC for selecting Asaba as the venue for some of the activities marking its 25th anniversary, such as a press conference and the movie premiere.

In Imo State, President Bola Tinubu commended the people of the Niger Delta region, particularly the youths and women, for demonstrating solidarity with his administration and supporting the Federal Government’s Renewed Hope Agenda. The President’s message was conveyed by Dr. Ogbuku, during the Youth and Women Conference in Owerri, the State capital, as part of activities marking the 25th anniversary of the NDDC. Ogbuku announced that President Tinubu had mandated him to extend his gratitude to the youths and women of the Niger Delta for their support and cooperation. He noted that last year (2024), when youths across the country were preparing for protests against the administration of President Tinubu, sponsored by some politicians, the Niger Delta youths and women stood solidly behind the President. He stated: “In that gathering, the people of the Niger Delta took their fate in their hands and resolved that they were not going to be part of the protest.

Celebrating

of NDDC: The Secretary to the Federal Government, Senator Goerge Akume (middle) surrounded by the Senate President, Senator Godswill Akpabio (4th left); the former President, Dr Goodluck Jonathan (4th right); the Imo

Alhaji Uba Ahmadu

(3rd right);

Board, Mr.

(Rtd) (2nd right); the Managing Director,

(right),

Unlocking Financial Inclusion Channels, Innovation for Business Growth

Banks and Fintechs are collaborating to broaden access to financial services through digitisation of service delivery. The move is creating digital renaissance for a sector that supports payment and build businesses for sustainable economic growth. At the centre the policy formulation for boosting digital payment delivery and bringing banking services closer the people is the Central Bank of Nigeria (CBN). The apex bank is not only strengthening digital infrastructure, closing regulatory gaps, and promoting financial education but building a system that acts as a catalyst for inclusive, business and financial services growth. Precious Ugwuzor writes

Bringing financial services closer to the peoples is globally acknowledged by policy makers, researchers and development-oriented agencies as crucial for business and economic growth.

Its importance derives from the promise it holds as a tool for economic development, particularly in the areas of poverty reduction, employment generation, wealth creation and improving welfare and general standard of living.

At the heart of financial inclusion, is the deployment and use of technology to reach the banked, unbanked and underbanked.

Interestingly, the Nigerian payments ecosystem has been ahead of many advanced economies, yet has not always received the recognition it deserves. Many innovations that other countries are only now experiencing have been part of Nigeria’s system for years.

According to the Central Bank of Nigeria (CBN), there is need to celebrate these successes, as they contribute to building our global reputation.

For instance, Nigeria’s dynamic fintech ecosystem has driven financial inclusion and positioned the country as a hub of innovation in Africa. Despite a challenging external environment, Nigerian Fintechs continue to shine, attracting significant foreign investment and several have achieved global unicorn status this year.

Their innovations, alongside other financial service providers, have fueled growth in transactions and made financial services more affordable and accessible for many more Nigerians.

CBN Governor, Olayemi Cardoso said Nigeria must continue to leverage this channel to enhance access to finance and credit, particularly for under-served populations.

However, he urged fintech companies and banks to ensure their platforms are not exploited for fraudulent activities.

“Strengthening the Know Your Customer (KYC) onboarding process is essential to prevent malicious actors from exploiting the financial system. Additionally, these institutions must prioritize improving transaction monitoring and bolstering consumer protection measures to ensure that digital channels remain safe, especially for the most vulnerable segments of our population,” he said during his address to bankers in Lagos.

Nigeria’s e-payment milestones

Electronic payment transactions in Nigeria rose to $702.6 billion (N1.07 quadrillion) in 12 months ended December 31, 2024, report from the Nigeria Interbank Settlement System (NIBSS) has shown.

The e-payment data, reached an all-time high and the first time to hit the quadrillion mark.

According to NIBSS industry statistics on e-payment report, the value recorded on the NIBSS Instant Payment (NIP) represents a 79.6% increase over the N600 trillion ($400.5 million) recorded in 2023.

Although the e-payment data shows a steady increase throughout the 12 months of the year, the highest value was achieved in December 2024 because of the high level of business transactions within the month.

Being a festive period with lots of spending activities, Nigerians spent a total of N115.1 trillion ($76.7 billion) over electronic channels in December 2024. This came as the all-time high monthly record on the NIBSS electronic payment platform.

Also, the volume of transactions processed by NIBSS for the year also jumped from 9.7 billion in 2023 to 11.2 billion in 2024. This represents a 15.5 per cent rise in the volume of electronic transactions year on year.

Stakeholders insist that the surge in e-payment transactions can be linked to the recent cash crunch experience and the cashless policy of the Central Bank of Nigeria (CBN) limiting the amount of cash that can be withdrawn daily. The e-payment transactions are usually carried out through cheques, Automated Teller

Machines (ATMs), Point of Sale (PoS), m-Cash, CentralPay, Remita, Nigeria Interbank Instant Payment (NIBSS) Instant Payment (NIP), mobile money, among other channels.

The e-payment powers were conferred on the CBN by Sections 2 (d) and 47 (2) of the CBN Act, 2007, to promote and facilitate the development of efficient and effective systems for the settlement of transactions, including the development of electronic payment systems.

While pushing for the full use of the e-payment system, the CBN said for Nigeria to actively play at the world stage, “our payment system must be successfully benchmarked against the global best practices, as in most developed nations of the world.

It said e-payment provides safe and efficient mechanisms for making and receiving payments with minimum risks to the CBN, payment service providers and end-users.

To make the e-payment vision a success, the CBN, in collaboration with key stakeholders in the payments community, developed the National Payments Systems Vision 2020 (NPSV 2020). The NPSV 2020 is a sub-set of the Financial Systems Strategy 2020 (FSS 2020).

In his keynote address titled: Nigeria's economic hardship and pathways to recovery, Group Chief Economist & Managing Director, Research and Trade Intelligence, Afreximbank, Dr. Yemi Kale, said Nigeria has made significant progress in the e-payment space. Mobile money transactions have surpassed N8 trillion, while digital lenders are reaching new borrower segments.

“To fully leverage this sector, we must strengthen digital infrastructure, close regulatory gaps, and promote financial education. The financial system can and should be a catalyst for inclusive growth—not just a channel for elite capital,” he said.

How it started

A survey conducted in Nigeria in 2008 by a development finance organization, the Enhancing Financial Innovation and Access revealed that about 53 per cent of adults were excluded from financial services.

The global pursuit of financial inclusion as a vehicle for economic development had a positive effect in Nigeria as the exclusion rate reduced from 53 per cent in 2008 to 46.3 per cent in 2010.

Encouraged by the positive development, the Central Bank of Nigeria in collaboration with stakeholders launched the National Financial Inclusion Strategy on 23rd October 2012 aimed at further reducing the exclusion rate to 20 per cent by 2020.

Specifically, adult Nigerians with access to payment services is to increase from 21.6 per cent in 2010 to 70 per cent in 2020, while those with access to savings should increase from 24 per cent to 60 per cent; and Credit from two per cent to 40 per cent, Insurance from one per cent to 40 per cent and Pensions from five per cent to 40 per cent, within the same period.

The channels for delivering the above financial services were equally targeted to improve, with deposit money bank branches targeted to increase from 6.8 units per 100,000 adults in 2010 to 7.6 units per 100,000 adults in 2020, microfinance bank branches to increase from 2.9 units to 5.5 units; ATMs from 11.8 units to 203.6 units, POS from 13.3 units to 850 units, Mobile agents from 0 to 62 units, all per 100,000 adults between 2010 and 2020.

The targets were based on a benchmarking exercise carried out with peer countries, while also taking into consideration critical growth factors in the Nigerian environment.

Also, the Enhancing Financial Innovation and Access (EFInA) says an inclusive financial sector is characterised by the diversity of financial services providers, the level of competition between them, and the legal and regulatory environments that ensure the integrity of the financial sector and access to financial services for all.

Also, evidence worldwide shows that access to financial services contributes both to economic growth and wealth creation and is therefore key to tackling the ‘poverty’ trap in Nigeria.

“It is critical for regulators and policy makers to create an enabling policy environment to actively promote both the demand for and the supply of financial services to the unbanked and under-banked,” it said.

The impact of having more people save their funds in banks or other financial services or have more access to credit on the population and businesses especially at the informal sector cannot be over-emphasised.

For instance, Nigeria’s informal sector is a sleeping giant. The potential of the sector, estimated at $240 billion, is largely untapped. The billions of naira that circulate through the informal sector has a negative impact on the country’s economic growth and development.

Expanding financial services network

Recognising the inherent benefits of expanding financial services network, especially to Nigerians in diaspora, the Central Bank of Nigeria (CBN) under the leadership of Olayemi Cardoso recently launched the Non-Resident Biometric Verification Number (NRBVN) platform in Abuja.

During his presentation at the programme launch in Abuja, Cardoso explained that historically, Nigerians in the diaspora have faced significant hurdles when seeking access to financial services such as payments, savings, loans, insurance, and pension products in Nigeria.

The mandatory physical verification required for obtaining a BVN often incurred considerable costs in terms of time and financial resources, especially for individuals residing in remote locations. The NRBVN platform addresses these very concerns. Through digital verification and robust Know Your Customer (KYC) processes, Nigerians across the globe can now remotely obtain their BVN swiftly and securely.

This single digital gateway will enable seamless access to banking services, including opening accounts and securely sending funds, dramatically enhancing convenience and reducing costs.

“In developing this solution, we draw valuable lessons from countries such as India and Pakistan. India’s Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts have significantly simplified banking processes for its diaspora, and Indian banks currently hold approximately $160 billion in diaspora deposits, achieved by providing attractive and tailored products and services,” he said.

According to the CBN boss, in developing the NRBVN, the team also took cognizance of Pakistan’s innovative Roshan Digital Account, offering fully online onboarding and investment opportunities and successfully attracting nearly $10 billion since its inception.

These examples, Cardoso explained underscore the power of digital financial inclusion and specifically tailored products in driving meaningful engagement and substantial economic inflows from diaspora populations.

“Our NRBVN platform is similarly designed to offer more than access, it is about opportunity. It is complemented by the Non-Resident Ordinary Account (NROA) and Non-Resident Investment Account (NRNIA) initiatives, collectively forming a robust framework designed to incentivize our global diaspora to channel their funds through formal financial systems into productive uses at home.”

“By providing investment accounts, diasporans will have access to a variety of growing investment opportunities in our debt and equities markets, as well as products such as mortgages, insurance, and pensions. Importantly, diasporans will also have the flexibility to fully repatriate the proceeds of their investments in accordance with existing regulations, ensuring confidence and convenience in managing their assets,” he said.

Cardoso advised Nigerian banks to proactively develop and offer products specifically tailored to meet the unique needs and preferences of the diaspora community. He said that offering innovative and attractive financial solutions can greatly enhance diaspora participation, deepen financial inclusion, and significantly boost remittance inflows.

“Over the past year, our policy frameworks have undergone extensive refinements, informed by sustained dialogue with International Money Transfer Operators (IMTOs). The introduction of the willing buyer, willing seller regime, licensing of additional IMTOs, and market reforms that have facilitated currency convergence are notable examples. Consequently, remittance flows through official channels have risen markedly, from $3.3 billion in 2023 to $4.73 billion last year,” he said.

Cardoso

polity

Firming Up Nigeria’s Immigration System

By Femi Salako

Acountry, it is quite apparent, is just as good as its systems. Specifically with respect to immigration, countries will be doing themselves irreparable damage if they do not improve on their structures and systems. In Nigeria, immigration and border security are key issues, particularly because of the challenges thrown up by trans-border crime, the influx of terrorists, and the proliferation of light weapons. Besides, it is well known that processing a visa application had traditionally been a herculean task and predisposed Nigeria to mockery and its image to serious depletion for decades. Happily, though, a number of innovations appear to be aimed at responding to these challenges. On immigration, take the digitalization of CERPAC for instance. It cannot be bad news that a fully online application process is starting on August 1, 2025, eliminating paperwork and middlemen. There is also the e-Visa regime, with 13 categories under Short-Visit Visa (SVV) class, processed online in 48 hours or less. Under the amnesty initiative/expired visa initiative (May 1 - September 30, 2025), foreign nationals have the opportunity to regularize their status without penalties. That is more than likely to make them fully attuned to compliance with Nigerian law and enhanced relationship with Nigeria, its people and its government.

Key features of the reforms, including the following: QR codes and email-based visa delivery for security and reduced fraud, the phasing out of Visa on Arrival (VoA) since May 30, 2025, and dedicated platforms for CERPAC, e-Visa, and amnesty initiatives, cannot be ignored. The corollary has been improved efficiency, transparency, and user experience, enhanced national security and border control. This has boosted investor confidence, tourism, and Nigeria’s global standing. And it’s all down to the visionary and impactful leadership of the Minister of Interior, Hon. Olubunmi Tunji-Ojo. His vision and commitment to reform and innovation in public service have been stellar.

As he noted recently, the strides have been made possible through positive synergy with other ministries, agencies and departs of government. His words: “The newly automated landing and exit card will enhance processes as well as help the

PERSPECTIVE

MinisterofInterior,Hon.OlubunmiTunji-Ojo

government in areas of documentation and intelligence gathering of foreigners in and out of the country. Again, while appreciating the privilege of working together with the Aviation Minister for making this possible, I want to recognise the corporation of the

Nigeria Civil Aviation Authority (NCAA) and Federal Airport Authority, Nigeria (FAAN) for teaming up with the Nigeria Immigration Service to make this a great success towards improving security across our borders. The administration of President Bola Ahmed Tinubu (GCFR) will continue to invest resources to grow and develop the nation into an Eldorado of our dreams.” That is not an idle boast.

A little more on the e-Visa system. Citizens of countries requiring a visa to enter Nigeria file their application process entirely online through the Nigeria Immigration Service website, providing the following required documents: - valid passport, passport photo, proof of accommodation, return/ onward flight ticket and proof of sufficient fund. The processing time is between 16 and 18 hours. The visa fee varies by nationality ($60-$150) and the validity period is typically 90 days from the date of issue. It is fitting that Nigeria’s new e-Visa system has successfully processed over 14,000 visa applications within its first six weeks. There’s no doubting the observation that this achievement marks a significant milestone in the Nigeria’s efforts to modernize its immigration framework and boost economic growth.

The e-visa system has been lauded for its seamless online applications, efficient processing and enhanced security. It is designed to stimulate economic growth by making it easier for foreigners to visit Nigeria for business, tourism, or other purposes. It is clear that President Bola Tinubu’s Renewed Hope agenda is being lucidly articulated in the Interior Ministry, working in close synergy with the Nigeria Immigration Service (NIS) led by a workaholic and committed Comptroller General, Mrs Kemi Nandap, and other agencies under the radar of the Interior Ministry. As a forward-looking, science-led security outfit , the NIS has fully keyed into the president’ s vision. President Tinubu has been praised for modernizing immigration processes, implementing the e-border solution project to enhance border management efficiency, introducing e-gates at international airports to streamline immigration procedures, and deploying advanced passenger information systems at international airports. Clearly, Nigeria’s border security and management strategies under his Renewed Hope initiative are top notch. By strengthening security at Nigeria’s busiest airport, the Murtala Muhammed International

Airport, intercepting over 4,000 irregular migrants, and improving visa processing times by 40 per cent, President Tinubu’s administration has shown what can be achieved with tactical discipline and commitment.

The rescue of137 victims of human trafficking and dismantling 42 trafficking syndicates was not a fluke. And no doubt, the government’s steps in leveraging technology to safeguard Nigeria’s land borders and combating human trafficking have raised Nigeria’s profile in the international community. In particular, the NIS has been playing a vital role in overseeing critical directorates, including migration, investigation and compliance, and ECOWAS and African affairs, and it is, therefore, no surprise that it has received recognition at the regional level, providing leadership at the ECOWAS Heads of Immigration Forum. It is a cardinal objective of the administration to promote regional integration and cooperation and shape regional immigration policies and accelerate the implementation of the ECOWAS national biometric identity card (ENBIC). It has been nice to see the clearance of over 200,000 passport backlogs and the introduction of the Nigeria Immigration Service Workforce (MONIS) Project. By overseeing the processing 2.3 million passport applications in 2024, a 25 per cent increase from 2023; collaborating with international partners to enhance border security and migration management and preparing Nigeria to host the Global Forum on Migration in 2026, President Tinubu has displayed exemplary leadership. As Nigerians will no doubt affirm, the significant strides in modernizing immigration processes, enhancing border security, and combating human trafficking are crucial to achieving Nigeria’s national security objective. Implementing the e-Border Solution Project, introduced e-Gates at international airports, and deploying advanced passenger information systems have strengthened the security architecture. Through the ECOWAS Heads of Immigration Forum, Nigeria promotes regional integration and cooperation, shaping policies to accelerate the implementation of the ECOWAS National Biometric Identity Card. What is quite in evidence is a commitment to leveraging technology, international cooperation, and effective service delivery to drive progress in Nigeria’s immigration sector.

•Femi Salako, Media Consultant, writes in from Abuja

Road to 2027: Politics of Nigerian President of Igbo Extraction

Sam Ekpe

Since the Federal Republic of Nigeria attained independence in 1960; the Igbo race, inspite of its sophistication, greatness in commerce, industry, educational attainment and entrepreneurship, has really not had the opportunity to demonstrate his leadership potentials at the helm of affairs where the buck stops in the top hierarchy of Nigerian decision making, Apart from the six months – 17th January, 1966 – July 29th 1966 when Major General Aguiyi Ironsi was in office as Head of the Federal Military General and Supreme Commander of the Armed Forces, the leadership of Nigeria has been in the hands of non-Igbos.

Dr. Nnamdi Azikiwe the first indigenous Governor General and later ceremonial President of Nigerian was only a figure head, a titular leader without any executive power, which was exercised by the Prime Minister Alhaji Abubakar Tafawa Balewa. It has been argued severally that the main reason for the backwardness of Nigeria, the so-called Giant of Africa, and for not being reckoned with in the annuals of African and World indices of progress and development is because Nigeria has been led by the Third and fourth eleven brains, in the presence of First-Class potential leaders of Igbo extraction. It is regrettable and a great loss to the country that this situation is not due to attempts by Igbo leaders to demonstrate what they can offer the nation, but by deliberate acts of mischief, conspiracy, blackmail and sabotage by Nigerian leaders from other ethnic groups.

In the Second Republic Dr. Nnamdi Azikiwe the foremost who was far ahead of other politicians in political leadership experience could not make it to the Nigeria presidency through his Nigerian Peoples Party (NPP) both in the 1979 and the 1983 Presidential elections. It was rather the late Alhaji Shehu Shagari, a tertiary education teacher whose aspiration to be elected into the Nigerian Senate that won the election through his National Party of Nigeria (NPN). When the Second Republic

leadership of President Shagari was over thrown in 1983 a first class Igbo professional emerged Dr. Alex Ekwueme emerged as the Vice – President to demonstrate his capacity and capability to lead the nation. He did this most effective and was poised to succeed President Shagari after their Second Tenure in office when on 31st December, 1983 the Nigerian Military overthrew the Federal Government of the Second Republic.

Again, after an interregnum of 15 years, Dr. Ekwueme in 1978 mobilized patriotic politicians from all parts of the country and formed the Peoples Democratic Party (PDP). He was on the verge of taking over the leadership of Nigeria when a conspiratorial Group of former Nigerian Military leaders sabotaged his efforts and brought out General Olusegun Obasanjo who was serving a jail term from prison, manipulated the system to make him President of Nigeria in 1979. Hence, a major opportunity for an Igbo man, a great intellectual and Administrator to offer his services as President of the nation was lost. Nigeria was definitely the loser.

Subsequent attempts by other Igbo politicians including Chief Emmanuel Iwuanyanwu, Chief Emeka Odumegwu Ojukwu, Dr. Ogbonnaya Onu, Dr. Joe Nwodo to lead the nation all failed due to lack of support from Nigerians outside Igboland in conspiracy with some Igbo saboteurs.

In the presents dispensation another Igbo politician Mr. Peter Obi a very successful business man, a humane leader, very patriotic and humble personality offered himself to avail the country of his leadership qualities. He made serious impact on the Nigeria Electorate in the 2023 Presidential election despite not having any political structure, State or National Assembly member. It is even argued in some quarters that Mr. Peter Obi even won the election by a wide margin but was denied victory by a combination of political opponents using INEC (technical glitch of their machines during the Presidential election, conducted the same day as National Assembly Election which did not experience same glitch).

Other agencies used to rig the election include security personnel, thugs and the Judiciary which

delivered strange and surprising judgments hence the cliché Go to court.

In a country that is desirous of rapid progress and development, the rare leadership qualities of Mr. Peter Obi would have been a great asset to the country and the massive voles of the electorate for him thrown him up as Nigeria’s President in 2023. Again, one asks who is the loser; the good people of Nigeria.

The country is now preparing for General Elections in 2027, and Mr. Peter Obi the most popular Igbo man, loved and preferred by voters from all parts of the country has indicated his interest to vie again for the coveted post of Nigerian President. What do we observe on the political scene about his Presidential aspiration - the usual conspiratorial issues of sabotage, blackmail, character assassination and gang up against him. A factional leadership of his party the Labour party, which had no Councillor before the 2003 General Elections and emerged a major political party through the popularity of Mr. Peter Obi and won many State and National Assembly Seats and one Governorship election has even threatened to expel him from the party. How ironical and ridiculous, the highest level of rascality and irresponsibility.

Similarly in the ADC, a Coalition of opposition parties to challenge APC the ruling party in 2027 election, the negative forces are frustrating Peter Obi’s clear chances of successfully challenging President Tinubu of the APC in the 2027 Election. Alhaji Atiku Abubakar, a nearly 80 year old politician, a serial contestant of Presidential Elections since 1993 is about to constitute a stumbling block to Peter Obi’s emergence from the ADC as the party’s Presidential candidate. In the view of the above deliberate efforts by Nigerian politicians, in connivance with their Igbo greedy and selfish counterparts one believers that the 2027 Presidential Election offer Ndi –Igbo another chance to clinch the Presidency through the popular Mr. Peter Obi. General Buhari from the North of the Nigeria having completed his 2 Terms of eight years, it is the turn of Southern Nigeria to complete a two-term

tenure of eight Years. In the Southern Nigeria, the South-West and South-South have each had their turns in occupying the Nigerian Presidential Seat through General Obasanjo eight Years, Dr. Goodluck Jonathan five Years and Chief Bola Tinubu four Years by 2027. It is only the South-East that is yet to have a shot at the Presidency of Nigeria since 1967. A country whose Coat of Arms bears the insignia of Unity and Faith, Peace and Progress and whose National Anthem contains the prayer to God to help us to build a nation where no man is oppressed cannot continually propagate these ideals in a situation where its major component is denied its rights, priviledges and opportunities.

The late sages Chief Edwin Clarke and Chief Olu Adebanjo, in their departing words to the nation in 2023 firmly declared for their equity and justice to prevail in Nigeria. Mr. Peter Obi an Igbo man should be allowed to be President of Nigeria. In the alternative the Igbos should be allowed to secede from the country and have their Biafran nation. The words of these elder have become eternal words of wisdom.

It is the turn of Ndi Igbo to be President of Nigeria through Mr. Peter Obi, even if for only four years. If this equitable and fair disposition will again be denied Ndi-Igbo, the President should through the National Assembly approve the conduct of a Plebiscite in the South-East States of Nigeria with a view to peacefully grant Ndi-Igbo their Republic of Biafra. In Igbo parlance it is said that (I ma nju ogiga ju ochi cha), translation – You cannot be driving your vehicle on the road while refusing to give way to the vehicle behind you. You must take one course of action.

For the Igbo politicians who have always constituted themselves into agent of opposition and sabotage of Igbo interests. Ndi-Igbo have listed you in the Hall of Infamy and you must remain Judases, the fate of whom will be yours now and in your next world. You know yourselves and Ndigbo know you and you are eternally condemned. No need to display your names publicly.

•Chief Sam Ekpe wrote From Enugwu–Ukwu

Tree planTing ceremony To commemoraTe 60Th BirThday celeBraTion of mr governor...

L-R: President, 2025 set of the Lateef Jakande Leadership Academy, Miss. Funmi Coker; Representative of the General Manager, Lagos State Parks and Gardens Agency and Deputy Director in the Agency, Mrs. Oladini Olayinka; Representative of the Governor of Lagos State and Permanent Secretary, Office of Environmental Services, Dr. Gaji Omobolaji and the Executive Secretary, Lateef Jakande Leadership Academy, Mrs. Ayishat Agbaje-Okunade, during the Tree planting ceremony, organised by the Lateef Jakande Leadership Academy to commemorate the 60th Birthday Celebration of the Governor of Lagos State, held at the Cargo Terminal setback, International Airport, Ikeja, Lagos State

Senate Bars Natasha Akpoti-Uduaghan from Resuming, Orders Security to Lock Her Out

Sunday aborisade in Abuja

The National Assembly suffered some fleeting tension yesterday, when suspended Senator Natasha Akpoti-Uduaghan attempted to resume legislative duties, defying a six-month suspension recently

nullified by a Federal High Court. The senator representing Kogi Central was physically barred from entering the National Assembly premises by a heavily armed detachment of security operatives deployed by the senate leadership.

The action immediately drew sharp condemnation from civil society groups and legal observers, who described it as a flagrant violation of the rule of law.

As early as 7:30am, the entire National Assembly complex was cordoned off with an unusually

heavy presence of over 100 security personnel. They included officers from the Nigeria Police, Nigeria Security and Civil Defence Corps (NSCDC), Department of State Services (DSS), and National Assembly’s Sergeant-at-Arms.

Security agents frisked staff,

Nigeria Signs AMSG Charter as AFNIS 2025 Ends in Abuja

Nigeria has formally signed the charter of the Africa Minerals Strategy Group (AMSG), joining other African nations in a coordinated push for value addition, local content, and mineral resource optimisation across the continent.

The signing was one of the major highlights of the 4th African Natural Resources and Energy Investment Summit (AFNIS), which ended in Abuja on Thursday.

The three-day event, themed “Harnessing Local Content for Sustainable Development,” brought together policymakers, investors, and industry leaders to examine Africa’s role in global resource politics and how the continent can shift from raw extraction to beneficiation and industrialisation.

The Minister of Solid Minerals Development, Dr. Dele Alake, in his keynote address, said Nigeria’s reforms under the Renewed Hope Agenda have attracted over $800 million in critical minerals investment.

He noted the country is positioning itself as a hub for lithium processing

and electric vehicle technologies, stressing that Nigeria’s new licensing regime would prioritise value retention and downstream development.

Permanent Secretary of the ministry, Engr. Faruk Yusuf Yabo, said Africa must seize the opportunity to become co-architects of its future by building strong investment partnerships and rejecting the export of unprocessed raw materials.

The summit reviewed the continent’s strategic position in global energy transition and the urgency of regional Discussionscoordination. also focused on the expansion of local processing capacity, the establishment of joint industrial corridors, mineral testing infrastructure, and a pan-African financing mechanism to support beneficiation and green industry development.

Delegates agreed on the need to adapt Nigeria’s local content framework across African jurisdictions, while also operationalising the AMSG’s working groups to define roadmaps for collective action.

The official unveiling of the “Afri- cans for Africa” Fund marked another

key moment during the summit.

First announced in 2024, the initiative seeks to pool domestic capital to finance strategic resource projects and elevate African ownership in extractive industries.

Presentations by GeoScan Technology, Oildynamix, and X-Calibur Smart Mapping highlighted the role of artificial intelligence and satellite data in accelerating mineral exploration and improving accuracy. The importance of data generation and technological integration was repeatedly stressed as a foundation for attracting credible investment.

The summit also addressed the need for ethical and sustainable mining practices. Experts called for African-led mineral reporting codes such as the Pan-African Resources Reporting Code (PARC), and emphasised the importance of radiological safety, environmental stewardship, and community involvement in extractive operations.

Delegations from countries including Liberia and Kenya expressed interest in replicating Nigeria’s content-driven model.

Several state governments,

Radda Certified Fit to Resume Duties

med, said Radda’s medical expert had certified him fit to resume his official functions with immediate effect.

A statement by the governor’s

He expressed profound gratitude to all Katsina State citizens, friends, colleagues, and well-wishers across Nigeria, who offered prayers, support, and goodwill messages during his brief hospitalisation.

“I am deeply touched by the

overwhelming prayers and support from our people. This demonstration of love strengthens my commitment to serving Katsina State with renewed vigour and dedication.

“The Governor looks forward to delivering the Building Your Future transformational agenda for the development and prosperity of Katsina State,” the statement added.

private companies, and institutions participated as sponsors and technical partners, including Nigerian Content Development and Monitoring Board, Segilola Resources, Xcalibur Smart Mapping, Kaduna Electric, ANRML, NBET, and others.

AFNIS 2025 closed with renewed calls for African unity in shaping the continent’s resource destiny, and a shared commitment to move beyond raw exports toward industrial strength, sustainability, and inclusive economic growth.

journalists, and visitors, causing long queues at the entrance gates. Everyone was thoroughly searched in an apparent bid to prevent the senator from gaining access.

By 11:15am, the atmosphere turned electric as AkpotiUduaghan arrived in a convoy of two SUVs, accompanied by rights activist Aisha Yesufu, journalists, family members, and supporters. Security agents quickly shut the gates upon sighting her, refusing her entry into the complex.

Undeterred by the light rain, the embattled senator and her entourage began a one-kilometre trek to the main building, only to meet a second blockade at the Mopol gate, where they were again denied entry.

Speaking to journalists outside the locked gate, Akpoti-Uduaghan condemned the senate’s action and accused its leadership of deliberate lawlessness.

“I am a duly elected Senator of the Federal Republic of Nigeria. The court has ruled that my suspension is excessive and unconstitutional. Yet, I’m being denied access to carry out my constitutional duties,” she said. Her suspension, which occurred

shortly after she raised a sexual harassment petition on the senate floor, was voided by Justice Binta Nyako of the Federal High Court. The judge held that the six-month suspension violated Section 63 of the 1999 Constitution, which mandated senators to participate in legislative sittings for a minimum number of days annually.

Despite the court ruling, Senate President Godswill Akpabio insisted that the suspension stood. Akpoti-Uduaghan stated that Akpabio was the only party, who appealed the judgement, and in personal capacity, not the senate or the National Assembly as an institution.

“He has turned this into a personal vendetta and is abusing the machinery of the state to punish me for daring to speak up,” she asserted.

Civil society organisations also condemned the security clampdown and the senate’s defiance of the judiciary.

Yesufu lambasted the National Assembly leadership, saying, “What message are we sending to Nigerians when lawmakers become lawbreakers?”

yinka Kolawole in Osogbo

No fewer than 3,168 individuals received free medical treatment while 5,824 interventions were given at this year Jennifer’s Etuh Foundation free medical outreach in Ifewara Medical Center, in Atakumansa West Local Government Area of Osun State.

However, during the five days medical outreach a total number of patients received at the center stood at 3,168, while number of converts was 462.

Equally, the statistics for the just concluded 5-day free medical outreach for patients includes number of patients per unit - namely Consulting 1,780, Eye Surgery 111, Eye Care 612, or (Surgical Theatre) 105 and Pharmacy 1,595.

Others include: Laboratory791, Health Promotion - 237 and Dental - 324. At the outreach THISDAY observed the prevalence of hypertension, goitas, cataracts, end-stage glaucoma, hernias, poor oral hygiene and the team of 70+ professional volunteers do their best in providing the necessary treatment and care to combat these health challenges.

Speaking at the close of the medical outreach at the weekend the Program Manager, Jennifer Etuh Foundation, Mr. Joseph Bassey Out, noted the late Jennifer Etuh, before her death occasioned by breast cancer had wished that six hospitals be built in each of the six geopolitical zones to assist the less privileged in the country.

According to him, “We are also committed to empowering women and young girls by providing them with complete education and health care through sponsorships, campaigns and other intervention.” He called on other nongovernmental organizations to as well emulate the good gesture of the foundation in efforts to assist government in combating health care management.

Also, in an interview at the outreach center, Dr. Lisa Oke, the Program Officer, Pro-Health International, noted that Jennifer’s foundation envisioned a society where women and girls have access to equitable and world class health care, education and skills acquisition in Ifewara and its environ.

francis Sardauna in Katsina

The Katsina State Governor, Dikko

Umaru Radda, has been discharged from the hospital, where he received medical attention following an auto accident on his journey from Katsina to Daura.

Chief Press Secretary, Ibrahim Kaula Moham-

folalumi alaran in Abuja

COURTESY VISIT TO LAGOS TOURISM, ARTS AND CULTURE COMMISSIONER...

L-R: Nigerian Designer and Film Maker, Ugo Mezie; Chief Executive Officer, Content Officer of Farabove International Services, Ijeoma Onah; Tourism and Creative Business Manager, Sterling Bank, Abiola Adelana; Lagos State Commissioner for Tourism Arts and Culture, Toke Benson-Awoyinka; Founder of Africa International Film Festival, Chioma Ude and Chief Executive Officer of the UK Based Film Distribution Company, Talking Drum Entertainment, Mr. Moses Babatope, during a courtesy visit to the Commissioner’s office in Alausa, Lagos... recently

ADC to Tinubu: Celebrating Rebased GDP Economic Cosmetics and Cynical PR Stunt

Chuks Okocha in Abuja African Democratic Congress (ADC) has described the recent celebration of Nigeria’s rebased Gross Domestic Product (GDP) by the President Bola Tinubu administration as misleading and a cynical public relations stunt disguised as economic progress.

In a statement yesterday by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, ADC called the fanfare around the rebased GDP “economic cosmetics” that neither improved the quality of life of ordinary Nigerians nor solved the foundational crises crippling the economy.

ADC explained that in real terms, the Tinubu administration was trying to cover its economic failures with unjustifiable economic cosmetics.

The party said while government officials were busy touting a new GDP figure, millions of Nigerians were battling record food inflation, grinding poverty, and collapsing infrastructure.

ADC stated, “Economic growth is not about dressed up numbers that make the government look good. Economic growth means nothing if it leaves majority of the people behind and is not felt on the dining table, and in the marketplace.”

Oluyede Charges

Officers to Produce Top Notch Soldiers Nigerians Can Be Proud of

Linus Aleke in Abuja

The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, has tasked officers and instructors in Nigerian Army training institutions, particularly Depot Nigerian Army Osogbo, to produce top-notch soldiers that Nigerians could be proud of.

Oluyede gave this task when he paid a maiden operational visit to Depot Nigerian Army (NA) Osogbo, Osun State.

The Acting Director of Army Public Relations, Lieutenant Colonel Appolonia Anele, stated that the COAS, during his visit, emphasised the importance of effective training and professionalism in producing gallant soldiers that could frustrate

the activities of local and transnational criminal groups and defend the nation’s territorial integrity.

He urged officers and instructors to align with his vision of enhancing the Nigerian Army’s capabilities in discharging its constitutional responsibilities.

Oluyede, therefore, charged the instructors to train the recruits with passion, focusing on capacity development with the sole aim of producing high-quality personnel.

The COAS also took the opportunity to tour and inspect the training facilities and infrastructure within the Depot, assessing the current state of readiness and identifying areas for improvement with the aim of boosting the Army’s operational readiness and performance.

According to Abdullahi, “Ordinarily, GDP rebasing is a neutral statistical tool to reflect structural changes in the economy. But in the hands of this government, it has become a mirror, exposing the economic decay and leadership failure of the All Progressives Congress (APC) over the years.

“Nigeria’s GDP, which stood at $509 billion in 2014 after a previous rebasing, has now collapsed to $244 billion. In a single decade, Nigeria has fallen from Africa’s largest economy to fourth place, now behind South Africa, Egypt, and Algeria.

“This is not merely a technical

recalibration, it is a blunt indictment of a government that has failed to grow what it inherited, let alone transform it.”

The ADC spokesman added, “While the nominal GDP in naira terms has increased to N373 trillion, the figure is largely illusory. It is the product of a steep and poorly managed currency devaluation that has shrunk national wealth and stripped Nigerians of their purchasing power.

“GDP per capita has crashed from $3,223 in 2014 to barely $1,000 today. The rebasing might make the debt-to-GDP ratio look better on paper, but it does not create

room for more reckless borrowing.

“What Nigeria needs is fiscal discipline, something this government has consistently failed to demonstrate, as seen in its bloated, ill-prioritised budgets and wasteful spending amidst a sea of suffering.”

The coalition party added, “This economic recalibration has also exposed the emptiness of the APC’s long-promised economic diversification. The sectors that should anchor our future, like agriculture, manufacturing, infrastructure, and innovation, have either stagnated or regressed.

“Instead of unleashing productiv-

ity, this government has relied on shallow, headline-driven reforms. And the result is a structurally weak economy unable to compete or lift millions out of poverty.

“What has become clear is that the Tinubu administration is attempting to cover its economic failure with statistical cosmetics. There is no real increase in industrial output.

“No boost in agricultural productivity. No rise in real income. No improvement in electricity, health care or security. Just bloated, hollow numbers. This can only be described with one word: deception.”

Senate Deputy President Breaks Through on N81bn N-Power Backlog

Sunday Aborisade in Abuja

There seems to be a glimmer of hope for thousands of aggrieved beneficiaries of the federal government’s N-Power programme, as the Senate, through the intervention of Deputy President Barau Jibrin, has brokered a truce between the federal government and the unpaid participants over the long-standing N81 billion owed in allowances.

The resolution came following a closed-door tripartite meeting in Abuja, yesterday, involving Jibrin, Minister of Humanitarian Affairs, Professor Nentawe Goshwe Yilwatda, and legal representatives of the affected beneficiaries, led by Barrister Abba Hikima.

The meeting, which lasted over two hours, marked a significant shift

Any Threat against Peter Obi is Threat against All of Us, Atiku Warns Okpebholo

Okocha in Abuja

The ripples of the travel ban against the Labour party presidential candidate in 2023, Peter Obi, by the Edo State Governor, Monday Okpebholo, continued as former Vice-President Atiku Abubakar has declared that any threat to Obi was a threat to all Nigerians.

Atiku stated this in a tweet, days after Okpebholo said Obi must obtain security clearance before visiting Edo State.

The comment, which came during the defection of a federal lawmaker, Marcus Onobun, to the All Progressives Congress (APC), has sparked widespread criticisms from opposition politicians and citizens alike.

Earlier in July, Obi had visited St. Philomena Hospital School of Nursing Sciences in Benin, the capital of Edo State, to donate N15 million for the school’s project. But Okpebholo claimed that Obi’s visit coincided with the resurgence of violence in the state.

“That man who says he has no ‘shishi’ came and dropped N15 million. Where did he get it from? After he left, three people were killed. For this reason, Obi must not come to Edo without security clearance.

“His visit coincided with a resurgence of violence in the state and this will not be tolerated,” the governor claimed.

Reacting, Atiku tweeted: “Let it be known that a threat against Peter Obi or any of us is a threat against ALL of us.”

from legal contention to constructive dialogue, paving the way for eventual payment.

Speaking after the meeting, Jibrin said the aim of the intervention was to resolve the lingering impasse amicably and ensure that the affected youths were not denied what was rightfully theirs.

He stated, “The beneficiaries came to the Senate to seek my intervention. I reached out to the minister, who was very responsive, and following our discussion, today, they’ve all reached a common understanding.

“The minister has already begun the process for payment. There’s

a clear intention by the federal government to fulfil its obligation.

The beneficiaries have agreed to stay legal action, having seen the commitment and goodwill from the government.

“This aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which emphasises fairness and inclusivity.”

Echoing the Jibrin’s remarks, Yilwatda acknowledged the debt and assured that payment would be made within the 2025 fiscal year.

He explained that the outstanding allowances, dating back to 2022 and 2023, were part of recurrent

expenditure in the federal budget, which lapsed without being paid. Unfortunately, he said, the backlog was not re-appropriated in the subsequent 2024 and 2025 budgets, necessitating a special intervention. Counsel to the beneficiaries, Hikima, confirmed that based on the assurances received during the meeting, litigation had been suspended.

Chairman of N-Power Beneficiaries in Nigeria, Kehinde James, also expressed gratitude to Jibrin for his timely intervention and to the ministers for their open-mindedness and reassurances.

Ibadan Chieftaincy System will Remain Solid for Next 50 Years, Gov Makinde Vows

Kemi Olaitan in Ibadan

Oyo State Governor, ‘Seyi Makinde, yesterday, said the Ibadan traditional institution would continue to remain solid as a result of his administration’s bold decision to address the challenges that surrounded the system when he took office in 2019.

This was as he also noted that he utilised the opportunity of the crisis faced by the institution to strengthen and bring unity back to it. Makinde, who stated this during a visit to the home of the late Olubadan of Ibadanland, Oba Akinloye Owolabi Olakulehin, to condole with the family, said there

was no longer a question about the unity and strength of the Ibadan Chieftaincy System. He appreciated the traditional institution and all Ibadan indigenes for their support and cooperation during the period that the change occurred.

“I am here to officially condole with the family. A lot of people may not know how close I was to the late Kabiyesi. When I came into government in 2019, I encountered a crisis in the Ibadan traditional institution and I called everybody and said the crisis would be a temporary thing.

“The Sunday after that meeting, I met Kabiyesi in church at Aremo,

and he said, ‘Governor, you stopped us from putting on our crowns’, and I responded, saying ‘It is for good.’

“I added that we would not shy away from facing our challenges; that we would sort it out and make Ibadan traditional institution stronger than we met it.

“I am glad that not only did I return the crown to Baba, he got to the level of becoming Olubadan before he joined his ancestors.

“I am equally glad that we utilised that opportunity to strengthen the Ibadan traditional institution to bring unity back to it. Today, there is no question about the unity and strength of that institution,” he said.

Chuks

Zulum On COnDOlEnCE VISIt tO Ogun OVEr thE pASSAgE Of AwuJAlE...

L-R: Senator representing Borno Central, Senator Kaka Shehu Lawan; son of the late Awujale of Ijebuland, Prince Adejuwon Adetona; Governor of Borno State, Prof. Babagana Zulum; Ogun State Governor, Prince Dapo Abiodun; first son of the late Awujale of Ijebuland, Prince Adedire Adetona; and Acting Chairman of the All Progressives Congress, Dr. Ali Bukar Dalori, during a courtesy visit by the Borno State Governor to commiserate with the people of Ogun State over the passing of the late Awujale and paramount ruler of Ijebuland, Oba Sikiru Kayode Adetona on Tuesday

Tinubu Meets Adedeji, Bagudu, Lokpobiri, Edun, Ekpo, Ojulari, Dangote Behind Closed Doors

Vows to end insecurity as Sani unveils homes for victims of banditry

Deji Elumoye, Olawale Ajimotokan in Abuja and John Shiklam in Kaduna President Bola Tinubu on Tuesday met behind closed doors with key members of his economic and fiscal management team at State House, Abuja.Some of those who attended the meeting held at the office of the president were Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Minister of State for Petroleum (Gas), Mr.

Ekperikpe Ekpo; Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri; and Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji.

The ministers and heads of agencies arrived separately for the session.

Reliable sources at the presidency described the meeting as a routine engagement where senior government officials occupying strategic economic and financial positions briefed the president on developments in their respective portfolios.

Although the agenda of the meeting was not made public, the FIRS boss,

Adedeji, was said to have briefed the president on the roadmap for the implementation of the four new tax laws recently signed by the president, and scheduled to come into effect from January 2026.

Similarly, Edun and Bagudu were billed to present reports on macro-economic indicators, budget implementation status, and projections for the second half of the year.

The two ministers of state for petroleum were also said to have briefed Mr President on developments in the oil and gas sector

The meeting took place amid

President an ardent supporter of media, says Idris

continued scrutiny of the administration’s economic reforms, revenue mobilisation strategies, and efforts to attract investment into the oil and gas sector.

Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL), Mr Bashir Ojulari, also attended the closed-door meeting Tinubu had with the ministers of Finance and Budget and Planning, the two and FIRS chairman.

Tinubu later met privately with Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote.

Dangote arrived at State House

Gowon: Buhari Was a Friend and Patriot

He was very, very close to us, says his wife

Chuks Okocha in Abuja

Nigeria’s former Head of State, General Yakubu Gowon (Rtd), has paid a solemn condolence visit to the Nigerian High Commission in London following the death of former President Muhammadu Buhari.

The former leader, who ruled Nigeria from 1966 to 1975, was received by the Acting High Commissioner, Ambassador Mohammed Maina Maidugu, alongside senior diplomats and officers of the mission.

General Gowon was accompanied by his wife, Victoria Gowon.

In a statement, Gowon expressed deep sorrow over the passing of Buhari, whom he described as a trusted friend and patriot.

He recalled their long-standing relationship, tracing back to their

military days in the 1960s, and praised the former President’s commitment to Nigeria’s unity and democratic progress.

“We are truly saddened to be here. We had just arrived in the UK intending to visit him, only to receive the heartbreaking news of his passing minutes after getting home. We didn’t know what to do except to wait for formal confirmation,” he said.

Gowon highlighted Buhari’s steadfast support for his successor, President Bola Tinubu, during the last general election.

“That was one of the greatest things he did to ensure his party succeeded and the democratic process moved forward,” he noted.

The former Head of State commended the leadership at the High Commission for their role in facilitating the repatriation of the

former President’s remains back to Nigeria and urged the diplomatic staff to continue their dedicated service to the country.

“Continue to do your best for Nigeria, no matter the challenges. Our duty remains to support the government and to help our country move forward.

“May God bless you all. Please continue being good Nigerians, no matter the circumstances. Concluding, in Hausa, said, Allah ya bashi al-jannah,” he said.

Responding, Ambassador Maidugu described Gowon’s visit as an inspiration and a show of enduring leadership.

“Your Excellency, your presence here today means more than words can express. You remain a pillar for consultation, not only in Nigeria’s relations with the UK but also in the affairs of our diplomatic mission

P&ID: I H Ave ST ruggle D To Acce PT W HAT H APP ene D , SAYS u K Ju D ge W H o overT urne D $11bn AWA r D

scenario presented by P&ID’s expert but did not identify the websites or show them to the tribunal. Nor were they put to P&ID’s expert in cross examination.

“In arguments on quantum, Nigeria’s lead counsel relied on points that had not been addressed by its expert or put to P&ID’s expert, such as the cost of security at the processing plant, the performance of employees, yield, sales and future income. He did not appear to understand matters put to him by the tribunal,” Knowles said.

Knowles said that this lack of competence on the part of the Nigerian team meant the majority of the tribunal relied almost entirely

on the quantum expert called by P&ID, accepting his estimates of capital expenditure of $579.9 million and operating expenditure of $59.9 million as accurate.

“Respectfully, I did not consider the tribunal did all that it could to find out more, here and elsewhere. When I looked (in the course of the set-aside proceedings) at what was argued and not argued, I struggled to accept what happened in a dispute of this importance and magnitude”, Knowles said.

While accepting that the tribunal was “entitled to rely on the parties’ professional legal representatives to take the points that their clients wished them to take” the judge

stressed that the “conduct and effort” of Nigeria’s lawyers at the quantum stage deserved “severe criticism”.

“The difficulty I have is that, although there were expert witnesses on both sides, the tribunal did not have the assistance of competent expert evidence on both sides,” he added.

While acknowledging the difficult job the tribunal faced, Knowles suggested things could have been done differently to ensure the damages awarded were fair and correct, adding that the tribunal could have required Nigeria’s expert to produce a further report after apprising himself of the factual evidence in Quinn’s statement.

and the Nigerian community in Britain. We are grateful for your leadership and prayers.”

He added that the mission remained committed to honouring the memory of President Buhari and to upholding Nigeria’s image abroad.

In a brief remark, Mrs. Gowon spoke about the close personal bond her family shared with the late President:

“You know, General Buhari was very, very close to us. It may not have always appeared that way in public, but we were indeed very close. Thank you so much.”

shortly before 7pm and departed about 7.32pm.

While official details of the meeting were not disclosed, Dangote’s visit came on the heels of Tinubu’s recent tour of Dangote Refinery in Lagos, a multi-billion-dollar industrial complex hailed as a transformative project for Nigeria and Africa’s energy landscape.

The meeting is seen as a reinforcement of the Tinubu administration’s support for private sector-led economic reforms, particularly in the oil and gas sector, where government is pushing forward with deregulation and infrastructure investments.

Tinubu Vows to End Insecurity as Sani Unveils Homes for Kaduna Banditry Victims

President Bola Tinubu has reiterated the determination of his administration to restore peace and security across the country, especially in regions hit by violence. Tinubu stated this yesterday in Kaduna at the handing over ceremony of the first phase of 500 housing units built for victims of banditry attacks by the Kaduna State government in collaboration with the Qatar Charity.

The president, who was represented by National Security Adviser (NSA), Mallam Nuhu Ribadu, praised the ongoing recovery in Kaduna, citing the reopening of Birnin Gwari Market and the return of displaced farmers.

“Nigeria is in safe hands, and we will restore law and order. It will be done. Fresh air is blowing through Kaduna. Things are changing,”

Tinubu said. He commended the “Kaduna Peace Model” for using intelligence and community-based approaches to sustain peace.

“This fight against terrorism is a challenge, but it remains a top priority for this administration,” the president added. Speaking earlier, Kaduna State Governor, Senator Uba Sani, described the initiative as one of the most meaningful actions of his administration.

The houses, distributed to families who lost their loved ones to banditry, were part of a broader rehabilitation plan by the state government. The governor said, “This is not just about unveiling buildings. It is a solemn act of healing, a covenant fulfilled. We are telling every widow, orphan, and displaced soul that you are not forgotten. You are honoured. You are home.”

Idris: Tinubu an Ardent Supporter of Media Minister of Information and National Orientation, Mohammed Idris, extolled Tinubu as a keen supporter of the media and someone who understood the crucial role of the sector in nation-building. Idris stated this yesterday at the annual Blueprint Newspaper Lecture, Impact Series and Awards, held in Abuja. He stated that the president also recognised that the media played a very important role in nation-building.

Otu Mulls Raising Doctors’ Retirement Age, Commits to Holistic Health Sector Reforms

Bassey Inyang in Calabar

As part of reforms aimed at strengthening the state’s healthcare delivery system, and curb the migration of skilled medical professionals, the Cross River State Governor, Senator Bassey Otu, has revealed plans to increase the retirement age of doctors in the state from 60 to 65 years. Otu made the disclosure while addressing national officers of the Nigerian Association of Resident Doctors (NARD), who were in Calabar for the July National Executive Council (NEC) meeting of the association. According to him, the proposed retirement age extension would not only help retain highly skilled clinicians in the system but will also allow for effective transfer of

knowledge to younger professionals and improve continuity in healthcare delivery.

“In view of the realities, we face, especially the shortage of skilled hands, we are seriously considering reviewing the retirement age for doctors from 60 to 65 years.

“This will help us retain valuable experience within our system and provide room for mentoring and knowledge transfer to the next generation of healthcare workers.”

Otu emphasised that the sustainability of the health sector depended not just on policies but on the ethical and professional responsibility of practitioners.

He urged doctors to uphold these standards, noting that doing so would help rebuild public confidence and curb the ongoing brain drain.

“The medical profession demands both ethical and professional discipline. When these are upheld, they will inspire trust in the system and reduce the exodus of our best minds to other countries,” he said.

In his remarks, Dr. Abdulrauf Tajudeen, Vice President 1 of NARD, who spoke on behalf of the President, Dr. Osundare Tope, commended the governor for approving 70 per cent of the Consolidated Medical Salary Structure (CONMESS) for doctors in the state and urged him to push toward full parity with federal salaries.

“We truly appreciate what you have done so far, but achieving pay parity will go a long way in reducing internal migration and retaining skilled hands within the state,” Dr. Tajudeen said.

TOBI OLUSUNLE’S GRADUATION CEREMONY…

L-R: Son, Aramide Olusunle; Mother, Dr. (Mrs) Funmi Olusunle; Son, who just bagged M.Sc, Information Technology, Leeds Beckett University, United Kingdom(UK), Tobi Olusunle; Father, Mr. Tunde Olusunle, and Daughter, Abayomi Olunsunle, during Tobi’s graduation ceremony in Leeds…recently

One Year After S’Court Judgement, Stakeholders Proffer Way Forward for Autonomy in LGs

Share of FAAC to local councils reaches N35.2tn since 1999

Ndubuisi Francis and Chuks Okocha in abuja

Top policymakers from the public and private sectors, civil society organisations, international development organisations, academics and members of the diplomatic community, among others, yesterday appraised the local government system, and the challenges that have torpedoed the implementation of last year’s ruling by the Supreme Court affirming the autonomy of local governments. They not only proffered the way forward to operationalise the judgement but also how to truly make the third tier of government effective levers of grassroots development anchored on capacity-building, accountability, transparency and rule of law

with MacArthur Foundation, TheCable, Centre for Fiscal Transparency and African Cities Research Consortium.

The Minister of Finance and Coordinating Minister of

The stakeholders converged on Abuja at a policy conversation themed, “Local Governance Reforms a Year After Supreme Court”s Judgement,” organised by Agora Policy in collaboration

Firm, LGAs, NDC, Organise Capacity Building Programme for Local Security

Congress International Limited, the owners of People’s Dividend – The Magazine for Local Government has announced that the organisation is putting together a high powered capacity building programme at the local level tagged “Safer Localities Safer Nation Programme.”

According to the organisation, the programme will be held in collaboration with Nigeria’s apex security training institution, National Defence College Nigeria and Association of Local Governments of Nigeria (ALGON).

In a press statement the Chairman/Publisher of People’s Dividend – The Magazine for Local Government, Ogah Columba, announced the landmark programme, which he said is a senior executive capacity building programme for all local government security stakeholders in Nigeria

which will take place in Abuja, the nation’s capital.

According to him, “there is a critical knowledge gap that needs to be filled for local public safety policy formulation and implementation as it concerns human security at the local government level - which is a pivotal tier of governance.”

“Against this background and with the obvious public safety and stability challenges facing the nation, a capacity building programme has become imperative to cover this gap within critical stakeholders at the local authority level in order for them to understand their separate and collective roles that community stakeholders must play as to prevent and manage increasing non-violent and extreme crimes such as insurgency, gangsterism, land grabbing, banditry, kidnapping and other activities.

PDP Critical NEC Meeting Holds Tomorrow

Chuks Okocha in abuja

The Peoples Democratic Party (PDP) has announced that its 101st National Executive Committee (NEC) meeting would commence tomorrow, Thursday July 24.

The announcement was made by the party’s spokesperson, Debo Ologunagba, in a statement he signed on Tuesday adding that the meeting will hold at the PDP National Secretariat, Wadata Plaza, in Wuse Zone 5, Abuja.

Ologunagba explained that the meeting, which will start on Wednesday will end on Friday, July 25.

According to schedule of the meetings, the National Working

Committee (NWC) - Wednesday July 23, 2024, at the PDP National Secretariat, Abuja; Pre-NEC Meetings - July 23, 2025.

National Caucus Meeting: Wednesday, July 23, 2025, by 7:00 p.m, at the Bauchi StateLodge, Asokoro, Abuja.

Board of Trustees (BoT) Meeting - Thursday, July 24, 2025, at the NEC Hall, PDP National Secretariat, Wadata Plaza, Abuja, by 11.00a.m.

101st National Executive Committee (NEC) Meeting - Thursday, July 24, 2025, at the NEC Hall, PDP National Secretariat, Wdata Plaza, Wuse Zone 5, Abuja, by 2.00 p.m.

Post National Executive Committee (NEC) Activities/ Meetings - Friday, July 25, 2025.

the Economy, Mr. Wale Edun, who delivered the keynote address at the event stated that since the Supreme Court verdict, the federal government had routinely complied with

the aspect which stopped the federation allocation to local governments without constitutionally and properly elected officials.

However, on the aspect of

paying directly into the accounts of local councils, the minister noted that discussions were ongoing between relevant federal authorities and other stakeholders.

Delta Approves Electricity Commission to Tackle Energy Challenge

Omon-Julius Onabu in asaba

In its determination to citizens in the state the persistently regular hiccups from epileptic power supply occasioned by unabating inefficiency in the centralised National Grid system, the Delta State Government has taken a bold step to tackle the huge energy challenge with approval of the

Delta State Electricity Commission (DSEC).

Accordingly, the state government has accepted and adopted the mini-grid power generation and supply model, which promises to revolutionise the sector with focus on turning around the socio-economic life of the people in the state.

Briefing newsmen on the

courageous initiative at the end of the State Executive Council (EXCO) meeting in Asaba yesterday, the State Commissioner for Economic Planning, Mr. Sonny Ekedayen, said that the power programme is in tandem with Governor Sheriff Oborevwori’s M.O.R.E Agenda, which prioritises infrastructure as well as improved service delivery in critical sectors across the state. The state electricity agency emanated from the Delta State House of Assembly’s recent domestication of the Federal Government’s 2023 Electricity Act, through approval of the Bill, thus providing the legislative muscle for the State to chart an independent course in electricity generation, distribution and regulation.

Catholic Bishop Applauds Rescue of Priest, 42 Others in Borno Zamfara

Linus Aleke in a buja

Reverend Father Afina was kidnapped on June 1 by Boko Haram insurgents. His kidnapping in Gworza, Borno State, hit global headlines, as he had served as a priest in Alaska from September 2017 to 2024.

Kidnapped alongside the

The Catholic Bishop of Maiduguri Diocese, John Bakeni, has lauded the Department of State Services (DSS) and troops of the Nigerian Army for rescuing Reverend Father Alphonsus Afina and 42 other victims of Boko Haram abduction during a separate operations in Borno and Zamfara states.

priest were an unspecified number of fellow travellers on the Liman Kara-Gwoza road in Gwoza LGA of Borno State.

Meanwhile, Rev. Fr. Afina and 10 women were rescued by DSS operatives on Monday. Security sources said the operatives were supported by troops of the Nigerian Army, and no ransom was paid for the rescued victims.

Bishop Bakeni, who doubles as the chairman of the Christian Association of Nigeria (CAN) in Borno State, applauded the gallantry and intelligence of the DSS operatives who rescued the 11 persons unhurt.

NANS Hails AIG Fayoade’s Intervention in Arrest of LASU Female Student

Sunday Ehigiator

The National Association of Nigerian Students (NANS), Joint Campus Committee (JCC), Lagos State, has commended the Assistant Inspector-General of Police (AIG), Zone 2 Command, Adegoke Fayoade, for his prompt and decisive action

in securing the release of a female student of Lagos State University (LASU) who was allegedly arrested based on a misleading petition filed by her landlord.

The incident, which gained traction on social media last weekend, involved the student being forcibly arrested on July

18 by operatives of Zone 2 following a petition filed by her landlord.

In a statement jointly signed by the Chairman, NANS JCC Lagos State, Abdul-Raheem Abdul-Quadri, and Public Relations Officer (PRO), NANS JCC Lagos State, Ridwan Ajayi, the student had previously lodged a complaint of harassment and intimidation against the landlord at the Igando Police Division, a report the landlord allegedly ignored. Rather than respond to police invitations, the landlord allegedly filed a counter-petition at Zone 2 with the intent of using police machinery to punish the student.

Gov Mohammed Flags Off N7.8bn Bauchi Assembly Renovation

Segun Awofadeji inBauchi

Bauchi State Governor, Senator Bala Abdukadir Mohammed, has inaugurated a N7.8billion project for the upgrade and remodeling of the State House of Assembly complex.

THISDAY checks revealed that the scope of the project includes the construction of a new

Assembly Service Commission building, renovation of the main legislative chamber, refurbishment of the dilapidated administrative block, and renovation of the committee buildings, among other components.

Inaugurating the project at the Assembly premises, Governor Mohammed said the initiative is aimed at providing a more

conducive environment for legislative activities in line with his administration’s urban renewal policy.

Governor Mohammed, who said the project will be undertaken under the urban renewal programme of his administration, disclosed that 50 per cent of the N7.8 billion earmarked for the remodeling and upgrading of the State House of

Project

Assembly Complex has already been disbursed to the contractor. He recalled that the Abubakar Umar Secretariat housing the State Ministries, Departments and Agencies of the government was also renovated under the same programme to provide a conducive working environment for the public and civil servants that constitute the engine room for governance.

Remove My Name from Wanted List, Igboho Tells FG

Kemi Olaitan in Ibadan

Yoruba Nation agitator, Chief Sunday Adeyemo (aka Sunday Igboho), yesterday called on the federal government to remove his name from its wanted list and prioritise security in the South-west region.

He made the call during a visit

to the Olugbon of Orile Igbon, Oba Francis Olusola Alao in his palace. Adeyemo, who came to the monarch’s palace with an entourage, said his visit was to seek the royal backing of Oba Alao for his full freedom and reintegration into Nigeria. According to him, “I am not happy that I am not free in my

own fatherland. I want the federal government to remove my name from its wanted list because I am not a criminal. A lot of people are threatening to kill me; I cannot sleep in my house. The other time I went to the Nigerian embassy in Germany to obtain a passport, they told me the federal government had written to them that I was on the wanted list. I just want to be free. The security situation in the South-west is alarming and demands urgent attention.”

He expressed deep appreciation to Oba Alao for his unwavering support throughout his ordeal, saying: “Oba Olugbon is one of the traditional rulers who stood by me, supported me, and encouraged me.

Tinubu Hails Super Falcons, Says Victory Over S’Africa Well Deserved

Nigeria to play hosts Morocco in WAFCON final on Saturday

Deji Elumoye in Abuja and Duro Ikhazuagbe

President Bola Tinubu has congratulated the Super Falcons for qualifying for the final of the on-going Women’s Africa Cup of Nations (WAFCON 2024) in Casablanca, Morocco after defeating South Africa’s Banyana Banyana 2-1 .

Super Falcons are to play hosts Morocco who defeated Ghana’s Black Queens 4-2 in shootouts in the other

semifinal last night. Regulation and extra time deadlocked 1-1 before the shootouts.

The President in an post on his verified X handle @PBAT, described the victory of Nigeria’s senior female national team as well deserved.

He, therefore, charged the players to keep soaring and ensure that they win the cup for the 10th time as Nigerians wait to receive them.

The President’s congratulatory message reads:

Falode: Oshoala’s Facebook Account Was Cloned, She Has Not Retired

A Member of the board of the Nigeria Football Federation (NFF), Aisha Falode, has refuted claims in the sporting media, that six-time African Player of the Year, Asisat Oshoala, has retired from international duties for Nigeria.

According to Falode, the Facebook account purported to belong to Oshoala that announced her “retirement” on Monday was a cloned one.

“Asisat (Oshoala) has not spoken with any journalist on any plan to quit the national team. That Facebook account was cloned for whatever purpose. For a player that has given her best time to the senior national team, she does not deserve to be treated this way for whatever reason.

“Anyone wanting her out of the Super Falcons should not resort to this shameful tactic,” Falode told THISDAY on telephone from Morocco few minutes before Super Falcons defeated South Africa to reach the final of the WAFCON 2024.

The veteran broadcast sports

journalist advised sportswriters and bloggers on social media to verify their news before rushing to publish.

Oshoala yesterday evening corroborated Falode’s statement by posting a meme as she’s fond of doing on social media.

That meme had a man trying to subdue a bull, and Oshoala captioned it, “The day I catch that journalist…ogun kill am.”

The Monday phoney Facebook account bearing all similarities with Oshoala’s account, had even gone ahead to quote the former Barcelona Femeni forward as saying she was stepping away for emerging talents to shine on the global stage.

Oshoala’s illustrious career is adorned with a record six CAF Women’s Player of the Year titles (2014, 2016, 2017, 2019, 2022, and 2023), making her the most decorated player in the history of African women’s football.

Her relentless drive, goal-scoring prowess, and global impact have made her a role model for countless young athletes across the continent.

Uniport to Honour Owumi with Excellence in Service Award

The Chief Operating Officer of the Nigeria Premier Football League (NPFL), Davidson Owumi, is among eminent persons and organisations to be conferred the University of Port Harcourt Excellence in Service Award for their remarkable contributions to the institutions growth.

The award presentation is part of the events marking the 50th anniversary of the school and will be held on Thursday, July 24, at the CBN Centre of Excellence inside the university.

A letter signed by the Vice Chancellor of the university, Professor Owunari Abraham Georgewill, read, “as part of the University of Port Harcourt 50th anniversary, we are pleased to recognise and honour individuals and institutions whose invaluable support have

significantly contributed to our growth and success over the years”.

Owumi, an alumni of the second generation federal university, was a prominent member of the school’s football team that won honours in the 1980s.

The Vice Chancellor also went on to state in the letter that “it is with immense pleasure that I inform you that you have been selected to receive the Excellence in Service Award for your outstanding contributions to the university.

“This award is a testament to the enduring partnership and impact you have made in advancing our mission of excellence in education, research, and community service.”

All the award recipients are to be presented the award at the Pro-Chancellor’s dinner in the evening of Thursday, July 24.

Senior Special Assistant on Sports to Lagos Governor, Damilare Orimoloye, has reaffirmed the commitment of the Lagos State Government to the monthly aerobics programme ‘Keep-Fit-Lagos 8.0’ held at the Mobolaji Johnson Arena, Onikan. Orimoloye commended the turn out of participants at the latest installment, noting that the initiative was created to promote physical and mental wellness among Lagosians while encouraging residents to embrace healthy lifestyle. Participants from all walks of life and kids had the opportunity to exercise their body and mind under the guidance of instructors and fitness experts.

“Well deserved!

“Congratulations to our Super Falcons!

“Your incredible #WAFCON2025 semi-finals victory over South Africa today (last night) was nothing short of superlative. It was a magnificent display of grit, talent, and the indomitable Nigerian spirit.

“You have made the nation proud. Keep soaring. Don’t stop until you bring the trophy home. Go for our 10th title.

“Nigerians worldwide are rooting

for you. We are waiting to receive the cup.

“From your President, PBAT,” concludes the post on social media last night.

A last-gasp winner by Michelle Alozie handed Super Falcons the 2-1 victory over South Africa and the qualification into the final.

The victory also kept alive Nigeria’s ‘Mission X’, the dream of winning the country’s 10th WAFCON title here in Morocco.

Skipper Fantastic Rasheedat

Ajibade converted the penalty awarded Nigeria in the added minutes of the first half after a South African defender handled the ball inside the box.

South Africa who are the defending champions however drew level in the 59th minute also from the penalty spot after Osinachi Ohale was ruled to have fouled a South African player inside the box on her way to goal.

In the 73rd minute, Ohale turned from zero to hero when she cleared

on the

UNSTOPPABLE AJIBADE...

Super Falcons Captain, Rasheedat Ajibade was for the third time selected as the Player of the Match as Nigeria defeated South Africa. She won it in the Group stage match with Botswana and in the quarterfinal clash with Zambia.

The 2025 Central Bank of Nigeria (CBN ) Senior National Tennis Championship Men’s Singles defending champion, Daniel Adeleye yesterday handed a 2-0 defeat to Ajang Sylvanus to book his second round ticket

Adeleye overpowered Ajang 6-3, 3-6, 6-3 to advance.

Similarly, Kwanje Elisha lost 1-6, 3-6 to upcoming player, Seun Ogunsakin who has berthed the third round with the win.

In other singles games yesterday, Endurance Ehigiemusoe triumphed 2-1 over Morakinyo Akinwale, beating him 7-6, 6-1 to advance into the 3rd round.

Before the commencement of the aerobic sessions, participants had their vitals checked by professionals and providers who were on hand to conduct tests for people to know their medical health status. While assuring stakeholders that the monthly initiative will hold across the 20 local government and 37 local council development areas of the state, Orimoloye noted that physical and mental consciousness are very germane in the life of the people. In his own remarks, the Senior Special Assistant to the Governor on Sports Marketing and Administration, Onaopepo Adu said the event has awaken Lagosians interest to be intentional about physical fitness and general well-being of humanity.

Joining the third round train is Ibrahim Suleiman that defeated Ezekiel Azi, 6-2, 7-5 and Emmanuel Michael beat Akeem Azeez 6-2, 6-0 .

The remaining second round matches were ongoing as at the time of this report as rain disrupted proceedings in the early hours of the day.

Meanwhile, the men and women’s doubles event started yesterday and will continue today.

Former champion Thomas Otu continued his impressive runs this year with a 2-1 victory over Akagha Paul whom he defeated 6-3, 3-6, 6-3 in their second round game.

While urging residents to prioritize their

the ball

goalline after goalkeeper Chiamaka Nnadozie was beaten to the ball. The match heading to extra time with most of Nigerian girls fatigued already, Alozie then pulled the magic wand from the hat, firing a last-ditch long ball that beat tournament’s best goalkeeper, Andile Dlamini in goal for the Banyana Banyana. That goal effectively ended South Africa’s quest to defend the trophy they won here in Morocco in three years ago.

opEninG oF A TWo-DAY nATionAL ConFEREnCE on iFFS...

MAgNUSONYIBe

gu EST COL um NIST

Buhari And The African Custom of Not Speaking Ill of the Dead

Much has already been said and written about the life, public service career, passing, and burial of Nigeria’s former president, Muhammadu Buhari, GCFR. So rather than revisit the familiar aspects of his legacy, I have chosen to reflect on some of the less-discussed, subtle events and characteristics that shaped him in life and continue to define his memory in death.

During his presidential campaign between 2013 and 2015, Nigerians were bombarded with stories highlighting both the flaws and virtues of candidate Buhari. His critics within the then-ruling People’s Democratic Party (PDP) brought to light many of his past missteps and controversial traits, while his backers in the All Progressives Congress (APC) painted him as a principled, incorruptible patriot. This tug-of-war of narratives culminated in his victory over then-incumbent President Goodluck Jonathan in 2015, followed by his reelection in 2019.

Given how extensively his leadership style, governance record, and worldview have been dissected, this reflection intentionally avoids rehashing those well-trodden subjects.

As Buhari was laid to rest in his hometown of Daura, Katsina State on Tuesday, July 15, following his death on Sunday, July 13 in a London hospital at the age of 82, a Shakespearean line came to mind:

“…the good is oft interred with their bones…”

This line, from Julius Caesar and spoken by Mark Antony, captures a recurring truth — that people often remember the wrongs committed by the deceased far more than their good deeds. And in the case of President Buhari, this sentiment has come alive in the wake of his passing, particularly among Nigeria’s youth, whose reactions on both traditional and social media have been overwhelmingly critical.

Their resentment is rooted in what they saw as an antagonistic relationship with Buhari’s government. Instead of mourning with praise, many young Nigerians have reacted with a torrent of negative comments — some bordering on celebration of his death.

This bitterness stems partly from Buhari’s 2016 remarks during a UK visit, in which he described Nigerian youth as lazy — a comment that left a lasting wound. More significantly, his handling of the 2020 #EndSARS protests, during which security forces under his watch brutally suppressed unarmed demonstrators, cemented the perception of his administration as repressive and unfeeling. Earlier in his leadership career, the introduction of Decree 4, used to silence the press and imprison journalists, Nduka lrabor and Tunde Thompson, both of whom were newspaper editors further alienated him from a critical segment of society — the media.

Even the political elite, a group Buhari later belonged to, did not escape his harsh measures after he truncated democracy via a military coup d’état staged in 1983 to install himself as a military dictator. During his tenure as military head of state from 1983 to 1985, after he toppled the democratically elected government of President Shehu Shagari and Vice President Alex Ekwueme, he positioned himself as a strict enforcer with little regard for democratic norms but ruling with draconian laws.

It is trite to state that as an autocratic ruler, Muhammadu Buhari’s regime was marked by repression and authoritarianism. Many politicians he overthrew in his 1983 coup were sentenced to lengthy prison terms, with some dying in custody or suffering severe health consequences such as blindness. His iron-fisted rule lasted 20 months before he was ousted in another military coup by his fellow officers.

Despite his brutality evidenced by his harsh actions, Buhari made a surprising political comeback three decades later, returning to power through democratic elections in 2015. This remarkable political resurrection underscores Nigerians’ deep capacity for forgiveness.

An example of this forgiving nature is seen in Pa Bisi Akande, former Osun State governor and one of those unjustly imprisoned during Buhari’s military regime. Decades later, Akande became interim chairman of the All Progressives Congress (APC), the very political party that facilitated Buhari’s reentry into leadership as a democratically elected president.

Yet, while many older Nigerians — including some of his former political victims — have chosen to speak respectfully of Buhari after his passing, Nigeria’s youth have shown little restraint. Their criticism has been harsh and, at times, celebratory of his death. The contrast is stark: elders have taken a more measured approach, allowing time to dull the pain of the past, while younger Nigerians remain defiant and outspoken.

Their anger is rooted in events like Buhari’s 2016 remark in the UK labeling Nigerian youths as “lazy,” and his administration’s violent crackdown on peaceful #EndSARS protesters in 2020. Buhari’s history of stifling press freedom — notably through Decree 4 — also alienated the media and many civil society actors. Unlike the elders who seem to have moved on, the youth have not forgotten — or forgiven.

This generational divide in the perception of Buhari reflects a deeper shift in societal values. Traditionally, African cultures discourage speaking ill of the dead — a norm grounded in ancestral respect, communal harmony, spiritual beliefs, and the reverence for elders. Yet today’s youth seem to be moving away from this custom, choosing instead to air their grievances openly, even after a leader’s death.

I find this cultural erosion troubling.

Hence one of the most significant takeaways from Buhari’s life, leadership, and passing is this cultural shift — a warning sign that we are losing essential values that once held our society together.

As I reflected on the mixed reactions to Buhari’s death, I was reminded again of Mark Antony’s famous line from Shakespeare’s Julius Caesar (often mistakenly attributed to Macbeth):

“The evil that men do lives after them; the good is oft interred with their bones.”

This quote speaks volumes. It highlights how society tends to remember a person’s flaws long after they’re gone, while their virtues are quickly forgotten. Buhari’s legacy seems to follow this pattern — with many quick to recall his wrongdoings while overlooking his contributions.

In African tradition, avoiding criticism of the dead serves several purposes. It honors the deceased as ancestors who are believed to continue influencing the living. It maintains social peace, reinforces cultural values, and aligns with deeply held spiritual beliefs about the afterlife.

Interestingly, this practice is not unique to Africa. In many Asian societies, including Chinese and Japanese cultures, speaking ill of the dead is frowned upon. Indigenous cultures around the world also share this view, and even some Western societies — though less rigid — maintain a similar decorum, especially during official tributes or funerals.

However, in the West, especially among Caucasian societies, this restraint is not always observed. A striking example is the reaction to the death of former British Prime Minister Margaret Thatcher in 2013. Her passing sparked not only political debate but also outright public celebrations by those who opposed her policies — especially among working-class communities devastated by her economic reforms.

Street parties in areas like Brixton and Glasgow made headlines, while miners and their unions — still angry over her handling of the 1984–85 miners’ strike — expressed open contempt. Even politicians like Tony Benn offered pointed critiques of Thatcher’s legacy, accusing her of deepening social inequality.

This type of reaction — reminiscent of what we’re witnessing with Buhari’s passing — shows how deeply divisive leaders leave behind polarized legacies. In Nigeria, the public response has been similarly split along generational lines: the youth, many of whom bore the brunt of Buhari’s policies, are his harshest critics, while the older generation, including political figures and former allies, have been far more reserved or even respectful in their eulogies.

Take, for instance, the subtle tributes by former President Olusegun Obasanjo (OBJ) and Labour Party presidential candidate Peter Obi. Both men, in what appeared to be carefully worded statements, said Buhari “did his best.” This ambiguous phrasing mirrors the diplomatic tone often used when paying respects to controversial figures — a nod to civility without fully endorsing the legacy.

In sum, Buhari, like Thatcher, will remain a deeply debated figure in history. And just as Thatcher’s impact continues to stir reflection in the UK, Buhari’s rule — both as a dictator and a democrat — will likely dominate Nigerian discourse for years to come. The generational divide in how he is remembered — youth versus elders — may be the clearest reflection of how his leadership was received, and perhaps, of the cultural transformation underway in Nigeria itself.

Despite the scorn and resentment many young Nigerians still hold toward President Buhari—even after his passing—the turnout at his burial in Daura was massive and intense. As is often the case with public ceremonies in Nigeria, especially high-profile funerals, the event was marked by disorganization and chaos, much like the burial of the late President Umaru Yar’Adua in Katsina State back in 2010.

It is regrettable that, despite President Tinubu constituting a 25-member committee to plan Buhari’s state burial, the coordination was far from impressive—certainly not chaotic, but underwhelming. In contrast, events

organized by professionals in the private sector typically run much more smoothly. This raises a critical question: why don’t government agencies responsible for such high-profile events enlist experienced private sector planners to achieve the polished standards we often admire in other parts of the world?

Fortunately, no casualties were reported during Buhari’s funeral. And to President Tinubu’s credit, he played a highly visible and active role in the entire process. From dispatching Vice President Kashim Shettima and Chief of Staff Femi Gbajabiamila to London to accompany Buhari’s body back home, to participating in the final interment, Tinubu demonstrated statesmanship and upheld the dignity of the presidency, both in life and in death.

As Arise News anchor Vimbai Murithini-Ekpeyong rightly noted, Buhari’s remains were returned to Nigeria with dignity—in the passenger cabin of the aircraft, not in the cargo hold, as was the unfortunate case with the late Zimbabwean President Robert Mugabe’s remains. That small but significant detail conveyed respect and was, for many, a powerful symbolic gesture. While recognizing that Nigeria doesn’t operate at the same level of development as Western countries, it’s still instructive to compare the logistics of Buhari’s funeral with those of former U.S. President Jimmy Carter (2024) and British Prime Minister Margaret Thatcher (2013). Both Western funerals were well-coordinated and dignified, offering far better optics than the disorder seen in Daura on Tuesday, July 15.

As the saying goes, learning never stops. To improve the planning and execution of VIP funerals in Nigeria, especially those involving former presidents, the following globally accepted strategies are worth adopting:

1. Pre-Event Planning

• Clear Communication: Share schedules, expectations, and protocols with attendees in advance.

• Comprehensive Crowd Management Plan: Outline staffing, emergency procedures, and crowd services.

2. Effective Crowd Control

• Barriers and Signage: Guide people and prevent overcrowding using physical boundaries and clear signs.

• Security Deployment: Ensure adequate presence of security personnel for order and emergency handling.

• Designated Viewing Zones: Create structured areas for attendees to reduce pressure on key zones.

3. Use of Technology

• Surveillance Systems: Install cameras for crowd monitoring and early issue detection.

• Public Address Systems: Use loudspeakers to keep crowds informed and coordinated.

4. Community Involvement

• Public Sensitization: Promote decorum and respectful behavior through awareness campaigns.

• Engage Local Leaders: Work with community influencers to foster calm and cooperation.

5. Emergency Preparedness

• Incident Response Plans: Establish clear protocols for medical or security emergencies.

• Medical Presence: Provide on-site medical teams; reports suggest a woman fainted during the Daura ceremony.

Late President Muhammadu Buhari

L-R: Chairman, Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji; Minister of State for Finance, Dr. Doris Anite-Uzoka; Comptroller General, Nigeria Customs Service, Mr. Bashir Adeniyi; member of Thabo Mbeki Panel on Illicit Financial Flows, Honourable Irene Ovonji-Odida; and FIRS Coordinating Director, Proceeds of Crime Management and IFF, Professor Bolaji Owasanoye, at the opening of a two-day national conference on IFFs held at Transcorp Hilton in Abuja, yesterday