Declares Nigeria’s economy in better position to withstand US tariffs’ shock Cardoso: Orthodox monetary policy has stabilised economy Dangote joins World Bank’s investment lab to advance job creation in emerging markets
As Nigeria continues to push towards a $1 trillion economy by 2030 through indigenous industrialisation, the federal government has said it will re-evaluate the current fiscal regime offered the steel industry, as regards duties, to boost local production in the country.
In a related development, Minister of Steel Development, Prince Shuaibu Audu, inaugurated the Orbit Galvanising Steel Industries Limited and Orbit Fabrication Works Limited located in Lagos State.
had to urgently turn around the negative trend of importing over $4 billion of steel products into the country.
A statement issued Wednesday in Abuja by Principal Information Officer of the Ministry, Ijomah Opia, commended the African Industries Group for its commitment to investing in the Nigerian steel sector to advance local manufacturing, create jobs, and help economic sustainability, which aligned with the Renewed Hope Agenda of President Bola Tinubu.
of these plans.
Audu said it was important to stress that the project would play a critical role in driving the Tnubu administration’s desire for local content policies.
According to him, “I can assure all industry players, especially those in the fabrication and galvanizing sub-sector, that we are going to reevaluate the current fiscal regime as it
relates to duties on major import raw materials essential for production in comparison with imported finished galvanised steel products.
“It is important to state that the ultimate objective will be to create an enabling operating environment for local production through the support of the federal government of Nigeria.
“The current administration stands ready to support initiatives such as this fabrication and galvanizing plant, which is why I personally came here myself to commission the plant, because it is fully aligned with the national goal of industrial expansion, job creation, and economic sustainability.”
The minister emphasised that due to the need to maximise the country’s natural resources, the federal government was working on a metallurgical bill to help set the framework to revamp the sector. He state that the plant, a pioneer achievement of AIG in the galvanising subsector, had further reinforced the group’s commitment to invest in the Nigerian steel sector with a focus on local manufacturing of different steel products through backward integration for the overall benefit of this country.
20 Years After, FG, Katsina
As steel devt minister inaugurates galvanising steel plant in Lagos Nigeria imports $4 billion worth of steel annually As metallurgical bill underway to provide framework to steel sector Radda announces $500m renewable energy partnership with private firm
Audu hinted that the project, a milestone under the African Industries Group (AIG), was a landmark achievement in Nigeria’s galvanising and steel fabrication sub-sector.
He said the inauguration of the plant was part of the activities during his working visit to Lagos, where he engaged key private sector players in the steel industry.
The developments came as the country currently imported $4 billion worth of steel annually.
Audu spoke in Ikorodu, Lagos, yesterday, at the commissioning of a 36,000MT production capacity plant of Orbit Galvanised Steel Industries, as part of his three-day tour of some industries located around IkoroduSagamu-Abeokuta axis.
He acknowledged that the country
Opia stated that Orbit Fabrication had the capacity to produce up to 50,000 metric tons of fabricated towers annually, which brings the combined annual production capacity of all tower fabrication companies in Nigeria to around 200,000 metric tons per annum.
Audu assured industry players of the government’s commitment to provide an enabling environment for them to contribute to Tinubu’s quest to make Nigeria’s economy a $1 trillion economy by 2030.
In recognition of the importance of galvanised steel products to multiple projects across different industries, and the overall economic development of Nigeria, the minister revealed that the federal government had granted concessionary import duties to importers of galvanised steel products prior to the establishment
Talks on Handover of Multi-billion Naira 10mw Wind Farm
About 20 years after the award of the contract for Nigeria’s first major wind farm, the Lambar Rimi windmill, the federal government has announced the commencement of negotiations with the Katsina state government for the handover of the multi-billion naira facility to the state.
A statement in Abuja by Bolaji Tunji, the spokesman to the Minister of Power, Chief Adebayo Adelabu, said yesterday that the Katsina state government had expressed interest in taking over the 10 megawatts wind
farm, to boost electricity supply in the state, while integrating additional solar energy to expand the plant’s capacity.
The meeting focused on aligning federal and state efforts to advance sustainable power infrastructure and expand electricity access in Katsina state. The discussion further centred on the utilisation and proposed hybridisation of the 10mw Wind Farm in Katsina State.
“The Katsina State Government, through its partnership with Genesis Energy, expressed interest in taking over the wind farm, built by the federal government, to enhance electricity
Segun
Awofadeji in Bauchi
The Nigeria Shippers’ Council (NSC) has enjoined stakeholders in the North-East sub region to embrace the development and utilization of Inland Dry Ports (IDPs) towards enhancing trade as well as boost exportation of Nigerian content.
This is as the council again reiterated its commitment towards protecting exporters and importers in the country as well as their goods.
The Executive Secretary/ CEO of the Council, Dr. Akutah Pius Ukeyima, who was speaking during an interactive session with stakeholders in Bauchi yesterday emphasised the strategic importance of IDPs in
decongesting the nation’s seaports and boosting Nigeria’s competitiveness on the global stage. Akutah expressed satisfaction over the region’s input to exportation which according to him, is one of the present administration’s goals to boost the nation’s resources through blue-economy. He said IDPs would improve trade facilitation, enhance logistics efficiency, and ease the conduct of international trade.
According to him, “The establishment of IDPs across Adamawa, Bauchi, Borno, Gombe, Taraba, and Yobe will not only enhance logistics networks but also support job creation and make international trade more accessible to shippers in the region.”
He commended Bauchi and Borno States for their significant commitment to the IDP projects, and urged other states in the North-East to follow suit.
The Executive Secretary added that the Council remained committed to supporting the dry port initiative as part of the Federal Government’s Renewed Hope Agenda under President Bola Ahmed Tinubu.
The NSC, he said, plays a key role in promoting fair trade practices, ensuring efficient port services, monitoring compliance with regulations, and mediating in trade-related disputes all of which are crucial to achieving a seamless trade environment.
He said that he has heard so much
about the development of inland dry ports in the region, saying that Bauchi State has been working on the inland dry port over the years. “If I’m not mistaken, the approval was given during President Obasanjo’s presidency, and then it has been there.
“About 70% work done on the initial stages. We are gearing towards getting to the point where the implementation committee can be set up, and then we’ll begin to go into that phase.
Borno State also is working towards developing an inland dry port. And the governor of the state graciously paid us a visit in our office in Lagos.
One of about three governors that has ever visited the Council in Lagos.
supply in the state by integrating additional solar energy to expand the plant’s capacity,” Tunji stated.
First started by the Umar Yar’Adua administration in Katsina state around 2005, THISDAY gathered that the contract initially had 24 months for completion, before it was taken over by the federal government in 2007. Since then, the project has missed several timelines.
In 2009, the federal government awarded the project to a French firm, Messrs Vergnet SA, with the Lambar windmill project with 37 turbines, among other issues, stopped due to a security-related incident in 2012 at the peak of execution.
Besides, the project has step-up transformers for each turbine with a capacity of 315KVA for 33 kilovolts and 400 volts at distributed power supply level and a Supervisory Control and Data Acquisition (SCADA) system for data collection, performance monitoring and control as well as for remote supervision.
But speaking during a meeting with the Minister of Power, Adelabu, aimed at bolstering energy development partnerships between the federal and the Katsina state government, Governor Dikko Radda, stated that it will enhance power supply to the state.
Besides, Radda said that an agreement had also been signed with Oceans Solutions Energie to harness the state’s hydroelectric potential, beginning with a 1MW pilot project at Danja Dam.
Notably, he said, 60 per cent of the funding for the initiative has already been secured through grants from the French Treasury and Oceans Energie.
He also announced a $500 million renewable energy partnership with Genesis Energy Group - one of the largest private sector-led clean energy investments in Northern Nigeria. According to him, the partnership is expected to provide sustainable power solutions for the state while creating jobs and boosting economic resilience.
“The governor also shared progress on several state-led infrastructure projects aimed at enhancing energy efficiency and public service delivery. These include: A 1MW Solar PV MiniGrid and 1MWh Battery Energy Storage System installed at the Government House.
“A 1MW MiniGrid with 600KWh battery storage powering the State Secretariat. A 250KW solar system with 300KWh battery storage at Katsina General Hospital, ensuring reliable electricity for critical healthcare services.
“Over 500KW of solar-powered street lights installed along 100 kilometers of major roads, improving nighttime safety and lowering emissions. In line with promoting green mobility, Governor Radda revealed the approval for the procurement of 500 electric tricycles,” the governor said in a separate statement by his media aide, Ibrahim Mohammed. Responding, the minister commended the governor for his ‘visionary’ approach to energy development and his commitment to increasing energy access for the people of Katsina State. He emphasised that improved electricity supply will not only enhance the quality of life but also stimulate economic growth and development in the region.
Global visitors slump, tourist arrivals drop significantly
The travel and tourism sector in the United States currently faces a significant downturn as mounting trade tensions under the President Donald Trump’s administration trigger global backlash, and potentially cutting revenues by as much as $90 billion. The impact on the US economy is particularly coming from the nation’s key allied nations like Canada, the United Kingdom, and
Germany. These countries, once major sources of inbound tourism, have responded to escalating tariffs and inflammatory rhetoric with reduced travel and widespread boycotts of American goods.
Tourism from Canada has seen the biggest drop after Trump targeted the country directly through trade restrictions and indirectly by suggesting that the northern neighbour and close ally could become the “51st state.”
Traveler data from US Customs
and Border Protection showed that visitors coming across the northern border were down 12.5 per cent in February year over year, and off 18 per cent for March, an NBC News report said.
Visitors from Western Europe, another traditional allied region, have also pulled back, according to the National Travel and Tourism Office, a division of the US Commerce Department.
Some vacationers from the most historically reliable countries of
origin, like the United Kingdom and Germany, have chosen not to visit the US, as travel from those countries declined by as much as 29 per cent in March.
In total, Western European visitors saw a 12 per cent drop in March, one of the highest on record outside of the pandemic.
“Multiple data sources are pointing at a slowdown — and there are lots of anecdotes that point to an even more severe slowdown,” said Jan Freitag, senior vice president of
UN deputy chief urges Nigeria to turn climate challenges into opportunities Musawa: Creative economy will unlock Katsina climate resilience Radda unveils Green Growth Agenda
President Bola Tinubu yesterday called on world leaders to demonstrate unity, courage, and sustained commitment in addressing the worsening global climate crisis.
Speaking during a high-level virtual dialogue on climate and the just transition, the President thanked international partners, particularly the United Nations and Sustainable Energy for All (SEforALL), for their advisory and technical support.
According to him: “These partnerships are a shining example of the value of multilateral cooperation in climate delivery. We are prepared to collaborate, lead, and deliver — because we understand that the time for climate action is not tomorrow; it is now”.
Tinubu reaffirmed Nigeria’s dedication to forging a paradigm shift in which climate action and economic growth advance together, not in opposition.
“The global climate emergency demands our collective, courageous, and sustained leadership. For Nigeria, the urgency of this moment is clear: we view climate action not as a cost to development, but as a strategic imperative,’’ he added.
The meeting, co-hosted by United Nations Secretary-General, António Guterres and Brazilian President, Luiz Inacia Lula da Silva, aimed to accelerate global climate ambition ahead of COP30, which Brazil will host. Leaders from 17 countries, including China, the European Union, climate-vulnerable states, and key regional blocs such as the African Union, ASEAN, and the Alliance of
Small Island States, participated in the meeting.
Addressing the session from Abuja, Tinubu outlined Nigeria’s Energy Transition Plan (ETP) as a bold, pragmatic roadmap for reaching net-zero emissions by 2060.
The ETP targets five core sectors— power, cooking, transportation, oil and gas, and industry—and identifies a financing need of over $410 billion by 2060 to achieve these goals.
“We are, therefore, in the process of aligning our regulatory environment, fiscal incentives, and institutional frameworks to ensure that energy access, decarbonisation, and economic competitiveness proceed in lockstep. We are also taking leadership on energy access,” he said.
The president underscored Nigeria’s role as an anchor country in the Mission 300 initiative, implemented in partnership with the World Bank and the African Development Bank. The initiative aims to deliver electricity to 300 million Africans by 2030.
He recalled his participation in the Dar es Salaam Declaration earlier this year and Nigeria’s presentation of its National Energy Compact, which outlines reform commitments, investment opportunities, and measurable targets to expand clean energy access and clean cooking solutions.
He said: “This compact is among the first of its kind in Africa and lays out our policy reform commitments and specific investment opportunities in the energy sector. It sets quantifiable targets to grow electricity access and increase clean cooking penetration.
“We are working to build capacity and ensure that we meet these targets, reflecting not just our ambition but also our commitment to deliver on that ambition measurably”.
As part of the broader energy reforms architecture, Tinubu announced the finalisation of the Nigeria Carbon Market Activation Policy in March 2025. This policy will unlock up to $2.5 billion by 2030 in high-integrity carbon credits and related investments.
He disclosed that Nigeria is actively updating its Nationally Determined Contributions (NDCs) in line with the UN Framework Convention on Climate Change (UNFCCC), with plans to present a comprehensive revision by September 2025.
According to him: “Our climate strategy is not limited to planning and regulation — it is also rooted in market reform. We are working to position Nigeria as a premier destination for climate-smart investment through the development of a Global Climate Change Investment Fund, which will serve as a platform to blend public and private capital, de-risk green infrastructure, and finance clean energy solutions at scale”.
The fund will support key national priorities such as green industrial hubs, e-mobility infrastructure, regenerative agriculture, and renewable energy mini-grids for underserved communities.
Separately, the United Nations Deputy Secretary General, Amina Mohammed, has challenged Nigeria to turn the challenges of Climate Change into opportunities to ensure progress.
Speaking at the Katsina State Climate Action and Green Investment Summit themed: “Turning Climate Change Challenges into Development Opportunities for Katsina State,” Mohammed who was represented by UN Resident Coordinator in Nigeria,
Mohamed Fall, said the summit was a powerful demonstration of leadership and vision.
“This gathering matters because climate action is not just about managing risk. It’s about unlocking opportunities. For Katsina, for Nigeria, and for all of us, this is a moment to turn challenge into progress, to shift from climate vulnerability to climate leadership. From energy scarcity to green prosperity. From exclusion to inclusion.
lodging insights for STR Global and national director, hospitality analytics for CoStar Group.
Trump has hit Western allies most directly through tariffs on foreign vehicles and auto parts as well as on steel and aluminum. European imports currently face a 10 per cent duty, though for now Trump has paused a second round of tariffs on European Union (EU) nations.
He has also exempted most items from Canada and Mexico from 25 per cent duties on imports he had sought to impose on those two nations. Even with those measures, there’s been a worsening in sentiment against the US that is likely to have economic repercussions for its residents.
In a recent note to clients, analysts with Goldman Sachs said that under a worst-case scenario, the US stands to lose as much as $90 billion in revenue this year from the combined impact of reduced visits and canceled purchases of US goods.
“Foreign boycotts of US products will likely impose a modest drag on US Gross Domestic Product (GDP) growth in 2025, mostly driven by a pullback in foreign tourism,” the analysts said in a note.
“Although small, this headwind provides another reason—in addition to the more direct negative impacts of tariffs and drag on exports from foreign retaliation that are already built into our US GDP forecast— why US GDP growth will likely
underperform consensus expectations in 2025,” Goldman Sachs added. The negative feelings the Trump administration has engendered among longtime allies are unlikely to reverse quickly even if the president relaxes his posture, said Adam Sacks, president of Tourism Economics, a unit of Oxford Economics consultancy.
“The damage has been done,” he said. While the fallout can still be mitigated somewhat if Trump softens his stance, “it will take time for things to settle and for people to re-warm toward the US,” he said. Sacks said travel groups are reporting significantly fewer bookings. However, representatives for some U.S. tourism hot spots, such as Miami and Niagara Falls, say they have yet to see major evidence that a slowdown is afoot.
President and Chief Executive of the Greater Miami Convention & Visitors Bureau, David Whitaker, said that the full weight of the administration’s moves have hit largely after the city’s peak tourism season in winter and early spring, and that hotel bookings and room rates have held up so far. Miami is also buffeted by its diversified international visitor base and the fact that those visitors tend to be more affluent.
But he said there is still likely to be some impact in the coming weeks and months. “Ask me again in May,” he said.
Chuks Okocha and Emmanuel Addeh in Abuja
The Presidential Candidate of the Labour Party (LP) in the 2023 poll, Peter Obi, yesterday joined global dignitaries in Vatican City to pay final respects to the late Head of the Catholic Church, Pope Francis. Obi, a Papal Knight of the Church, joined Nigeria’s Vatican Veteran, 93-year-old Cardinal Francis Arinze to witness the Pontiff’s lying in the state.
He said: “Today, I joined Francis Cardinal Arinze, global dignitaries, and thousands of mourners at St. Peter’s Basilica, Rome, to pay my final respects to His Holiness, Pope Francis, who passed away on April 21. The solemn lying-in-state ceremony was a moment of deep reflection, as the world bids farewell to a man who embodied humility, simplicity, and selfless service.
“Pope Francis was more than a Pontiff; he was a moral light in a world darkened by inequality and indifference. His life was a testament to leadership as a sacred duty, one rooted in compassion, truth, and service to the poor and marginalised. He lived for others, spoke for the voiceless, and reminded us all that leadership must be about lifting others, not self-exaltation.
“I came to truly appreciate what he stood for after my appointment as a member of Scholars Occultantes - an international circle of thinkers he founded during his time as Archbishop. The organisation, dedicated to truth, ethical leadership, and social transformation, gave me a deeper insight into the intellectual and moral force behind his teachings.
“I was blessed to meet Pope Francis on three occasions. Each encounter left a lasting impression. He radiated peace and inspired faith,
and his presence was a quiet yet powerful reminder of the divine responsibility that leadership entails. His humility was infectious, his vision deeply human.
“As we mourn this great soul, I urge political, religious, and community leaders, especially across Africa, to reflect on his life and commit to the values he upheld: justice, peace, and human dignity. Let this moment not just be one of mourning, but a call to lead with conscience, walk with the people, and govern with love.
“May Pope Francis’ soul rest in perfect peace, and may his legacy live on in all who seek to serve humanity selflessly,’’ he stated Earlier, on Wednesday, the coffin containing the Pope’s body was carried from the chapel of the Casa Santa Marta to St. Peter’s Basilica, to allow the faithful to pay their respects.
Governor Hope Uzodimma of Imo State (L) with the Minister of Science, Technology and Innovation, Chief Uche Nnaji, at the opening ceremony of the 4th Artificial Intelligence & Robotics Summit 2025 which held at Protea Hotel, New Owerri, yesterday
Onyebuchi Ezigbo in Abuja Nigeria Labour Congress (NLC) condemned as outrageous the statement credited to Minister of Power, Adebayo Adelabu, claiming that 150 million Nigerians now enjoyed adequate electricity with 5,500MW.
NLC said it was an insult and a joke taken too far for a government to make such a wild claim in a country that still struggled to generate a meagre and inconsistent 5,000 megawatts—far below the global benchmark of 1,000MW per one million people
In a statement signed by NLC President Joe Ajaero, the labour movement urged the minister to stop making such unsubstantiated claims, adding that Nigerians are “tired of propaganda and sophisticated gymnastics”.
It said it was disheartening that in the last 12 years of privatisation of the power sector, no significant capacity had been added to the existing facilities.
Ajaero said, “This wild assertion is not only pretentious, it is a bad joke on a people daily confronted by grinding darkness, outrageous electricity tariffs, and a power sector manipulated for private profit at the expense of national progress.
“Perhaps, the minister wants to
perform Jesus’ miracle of feeding 5,000 persons with five loaves of bread and two fishes.
“For the minister to suggest that over 150 million Nigerians have access to reliable power in a country that struggles to generate a meagre and inconsistent 5,000 megawatts—far below the global benchmark of 1,000MW per one million people—is to insult the intelligence and lived realities of Nigerians.”
NLC said Nigeria should be generating no less than 150,000 MW to justify such a claim by the the minister.
NLC stated, “Yet, even on its best day, the country’s electricity generation has never exceeded 5,500MW—and that figure remains unstable and unreliable.
“We want to ask; Is Nigeria’s standard different from world standard? Where are the power plants that make this level of supply possible? Where is the upgraded transmission infrastructure to support such output?
“Why are our homes still shrouded in darkness and our factories shutting down daily?
This is not how performance is measured but could be likened to a joke carried too far.
“The truth is that millions of Nigerians, from urban slums to
rural communities, continue to live without access to electricity. The few who have access do so under constant threat of disconnection, blackouts, and financial exploitation through a complex pyramid of inflated tariffs and arbitrary billing.”
NLC said the recent electricity tariff hike, masked under the so-called “Band A, B, and C” classification, is nothing but a sophisticated scheme to legalise exploitation.”
According to NLC, while Discos
have raked in over N700 billion from helpless consumers, power supply remains epileptic, erratic, and inaccessible to the majority.
“Millions of Nigerians are now forced to choose between food and electricity bills. It is apparent that
those who preside over the helms of affairs have either lost their sense of humanity or do not entirely care about the consequences of their actions on the masses who are undergoing the most severe hardship in our history as a nation.”
Urge FG to revisit 2025 budget over drop in oil price benchmark As cleric warns against Ponzi schemes, urges govt to alleviate citizens’ suffering
Ndubuisi Francis and Folalumi Alaran in Abuja
Financial experts have continued to appraise the market following the recent collapse of a Ponzi scheme orchestrated by Crypto Bridge Exchange (CBEX), against the backdrop of Nigeria’s efforts to exit the Financial Action Task Force (FATF) grey list. They called for the strengthening of financial intelligence gathering as well as inter-agency collaboration. CBEX, a digital investment
platform described by the Securities and Exchange Commission (SEC) as unregistered to operate any such service, offered investors 100 per cent profit after 30 days of purported trading.
No fewer than 600,000 Nigerians who reportedly invested in the scheme were caught in the web and lost a staggering N1.3 trillion after the ponzi scheme collapsed recently.
Relatedly, renowned cleric, Prophet Sam Olu Alo, warned Nigerians against investing in Ponzi schemes, stressing that hard work remains the
Claims less than 10% of SME loans go to women despite recording 95% repayment
Sunday Aborisade in Abuja
Notable female entrepreneurs have launched a campaign seeking equitable funding for businesses owned by women.
Tagged, ‘WEEwantMore,’ the campaign was aimed at drawing the attention of the Central Bank of Nigeria (CBN) and other financial institutions to the various bottlenecks creating series of barriers to funding women-owned businesses in Nigeria.
They lamented that despite their outsized contribution to Nigeria’s economy, women entrepreneurs continue to be left behind when it comes to funding.
They noted with concern that women entrepreneurs receive less than 10% of Small and Medium Enterprises (SMEs) loans, despite data showing that 95% of loans to women are repaid.
They alleged that women in
businesses face steep collateral demands, high interest rates, and rigid lending systems that consistently shut them out.
It was in an attempt to change the unpleasant narrative that a collective of Nigerian women decided to launch the WEEwantMore, to urge the country’s top financial decision-makers to dismantle systemic barriers to funding women-owned businesses.
Those involved in the campaign included, Folu Storms, Jemima Osunde, Abosede George-Ogan, Omowunmi Akingbohungbe, Tosin Olaseinde, Lehie Balde, Habibah Waziri, Sa’adatu Hamu-Aliyu, Ekemini Akpakan, Fola Ibowu, Mojisola Humponu-Wosu and Chioma “Chigurl” Omeruah, among others.
In a public appeal contained in a statement made available to THISDAY in Abuja yesterday by Gate
Field, an international public strategy and media group, the campaigners called on Nigeria’s most powerful financial players to take immediate, structural steps to unlock capital for women entrepreneurs.
The campaign directly challenged policymakers such as Central Bank Governor, Olayemi Cardoso; Finance Minister Wale Edun; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; Minister of State John Owan Enoh; and the chief executives of the Bank of Industry (BOI) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), as well as CEOs of major Nigerian banks.
The statement quoted a Gates Foundation survey, which disclosed that 62% of Nigerian women lack the capital to start or expand their businesses, with limited access to affordable loans and outdated collateral requirements continuing
to restrict growth.
It added: “Economists estimate that fully supporting women’s participation in the economy could increase Nigeria’s GDP by $229 billion.
“The campaign is calling for these decision makers to publicly commit to making key shifts in order to fix the country’s gender gap in business financing.”
They urged fiscal and monetary policy players to ensure creation and expansion of dedicated funds for providing credit to women.
The women also sought the reservation and allocation of 40% of MSME loan portfolio to women and simplify collateral requirements, using approaches such as cash flow financing.
The female entrepreneurs appealed to policy makers to institute a 30% gender-based lending targets for commercial banks by the Central Bank of Nigeria.
only sustainable path to financial success.
In a signed statement, the cleric said many Nigerians fell for Ponzi schemes out of desperation, and often blamed the government for unemployment.
Alo said even with more job opportunities, many would still pursue quick-fix wealth.
His warning came in the wake of the collapse of the CBEX digital trading platform - a Ponzi scheme that reportedly defrauded thousands of Nigerians, wiping out over N1.3 trillion in investments.
In separate interviews with THISDAY on the consequences of the CBEX saga vis-a-vis Nigeria’s current bid to exit the grey list of the global anti-money laundering watchdog, FATF, some financial experts offered some perspectives.
Nigeria was placed on the FATF “l-grey” list (intense monitoring) on February 24, 2023 due to deficiencies in its anti-money laundering (AML) and counter-terrorism financing (CTF) regime.
In response to implications of the CBEX issue and Nigeria’s bid to exit the grey list, former Commissioner for Finance, Imo State, Prof. Uche Uwaleke, stated that despite the Ponzi incident, the country was on course, adding that the enactment of the Investment and Securities Act (ISA 2025) is a major boost.
Uwaleke stated, “Nigeria is expected to implement some action points by May 2025, including strengthening regulatory frameworks, improving financial intelligence and ensuring effective enforcement. I think the country is on course and the enactment of ISA 2025 is a major boost.
“However, against the backdrop of the CBEX saga, there’s need to firm up financial intelligence gathering as
well as inter-agency collaboration.” President of the Association of National Accountants of Nigeria (ANAN), Prof. Mohammed Mainoma, stated that the CBEX saga would not counteract Nigeria’s move to exit the grey list, explaining that rather than torpedo the effort, the FATF would see the country as striving to meet the agency’s established standards. Mainoma, who is also Vice Chancellor of Prime University, Abuja, and former Vice Chancellor, Nasarawa State University, said, “They will rather be happy that we are meeting the standards they established.
“As a global watchdog, it is important to encourage those that are able to close such schemes and educate the people. The level of awareness that came with the incident has cleared the environment.” On whether the CBEX incident was a pointer to lax financial intelligence system in the country, he said it had nothing to do with failure of financial intelligence.
He stated, “Not until something goes wrong, you may not be in a position to know that there is a problem...Until they’re unable to pay, there is nothing the financial intelligence system can do.
“Now that it is clear that there is deception, then you expect to see what they can do to get the perpetrators.”
Reacting to the current declining price of oil in the world market against the projected $75 per barrel in the 2025 federal budget, Uwaleke and Mainoma expressed concern. According to Uwaleke, the development calls for a revisit of the estimates in the 2025 budget with a view to prioritisation of major capital items, delaying non-developmental capital expenditure and cutting overheads.
Email: deji.elumoye@thisdaylive.com
08033025611 sms only
Emeka Aneke in this piece explains why he’s leading the clamour for continuity of the visionary leadership of Governor Peter Mbah of Enugu State.
As I reflect on my initial skepticism about Governor Peter Mbah’s emergence as Governor of Enugu State, I am deeply humbled by the power of his visionary leadership sweeping across Enugu State today. Let me state from the onset that I am not given to flattery or playing to gallery.
My political ideological leaning is liberal democratic, which makes me a perpetual table-shaker or, at the very least, not given to status quo ideas. I must admit that I was one of those who never knew or heard about Dr. Peter Mbah before his name emerged as a contender for the governorship seat of Enugu State in 2023.
As a staunch supporter of Ike Ekweremadu’s gubernatorial ambition, I deeply bought into Ekweremadu’s vision and mission for the state, anchored on social justice as an abiding justification for politics and governance. My support for Ekweremadu was rooted in principles and convictions shaped by my experience working closely with him as one of his Special Advisers when he was Deputy Senate President.
When my friend mentioned Dr. Mbah’s aspirations, I was less than enthusiastic. Although I had heard about his credentials and exploits in the private sector, I was not convinced he was the right fit to lead Enugu State as our chief public servant.
My skepticism was fueled largely by a lack of familiarity with his person and vision for the state and public perception that he hadn’t been politically active. There was also this general skepticism about bringing someone from outside the state political system to govern the state, potentially destabilizing our politics and creating crises of followership and not recognizing the residual political activists or stakeholders who are the bridge between the electorate and the government.
However, Mbah arrived on the stage, faced stiff PDP primaries, and won despite pundits saying he lacked a political structure. He effectively entered the race for the main election. Despite being unfamiliar with Mbah before his gubernatorial bid in 2023, I was fascinated by his vision and passion for revolutionary governance mission encapsulated as “disruptive innovation.” Simply put: In our corrupt, inefficient, and stagnant system, survival and progress depend on disruption and innovation.
By challenging existing norms and introducing new ideas, methods, or solutions, his government would drive transformative change, rendering the status quo unacceptable and necessitating radical reforms to revitalize the system.
I was sold! In a dazzling display of vision and conviction, he unleashed another seismic promise: to catapult Enugu State’s economy from $4.5 billion to a staggering $30 billion. The sheer audacity of this ambition left pundits bewildered, scratching their heads in wonder as they struggled to fathom how such an extraordinary feat could be achieved within a mere eight years, all other factors remaining constant.
The third leg of his promise-driven crusade against the antiquated status quo is the introduction of a compelling governance paradigm, aptly christened ‘Tomorrow is Here,’ which promises to redefine the administration’s trajectory and set a new standard for visionary leadership. I delved deeper into the meaning and relevance of this theme to Enugu State, a state crying out for true visionary leadership.
The phrase ‘Tomorrow is Here’ resonated powerfully, proclaiming that the future has arrived and it’s time to translate innovative ideas into tangible reality. Mbah’s profound understanding of governance challenges and leadership failures, specifically within Enugu State’s context, was evident. His master plan, replete with detailed visions, ideas, and implementation strategies, showcased a depth of research and preparation
that was nothing short of impressive.
Yet, past experiences tempered my excitement with skepticism – another politician with grand promises, but would they deliver? Still, deep down, I harbored a fervent hope that this audacious, courageous, and idealistic leader might defy the trend, becoming the transformative figure Enugu State desperately needs.
Fast-forward to today, I am blown away by what Governor Mbah’s administration has achieved in just two years. His government has catapulted Enugu State onto the national and international stage, showcasing knowledge-based leadership and good governance. His commitment to industrialization, economic transformation, and social development has yielded impressive results, erasing all vestiges of skepticism.
I recently attended a gathering of Nigerians from diverse backgrounds and tribes. When I mentioned I’m from Enugu, fellow Nigerians expressed admiration, remarking on the state’s fortunate leadership under a visionary and resourceful
governor. I felt an overwhelming sense of pride in my state and its leader. My initial skepticism has given way to fervent enthusiasm, much like the transformation of Saul in the biblical account. I’m now a staunch believer in the governor’s ability to exceed his ambitious goals and a fervent advocate and a fervent advocate for the continuity of his government beyond 2027 In my thinking, ‘Tomorrow is Here’ isn’t just a slogan – it’s a call to organic action. Governor Mbah’s progressive governance has brought the future to our doorstep. By embracing the continuity of his government, we’re not just supporting these milestone projects and programs, but we’re investing in our collective tomorrow. Let’s rally behind these key policy and project initiatives that are already shaping Enugu State’s future – this is, after all, the people’s business.
We’ve witnessed firsthand his transformative leadership, introducing groundbreaking policies and initiatives on an unprecedented scale. Enugu State has received positive reviews globally and internationally in various development sectors.
Some notable achievements include, but are not limited to:
Smart Green School Development: The ongoing construction of 260 modern edu -
In my thinking, ‘Tomorrow is Here’, isn’t just a slogan –it’s a call to organic action. Governor mbah’s progressive governance has brought the future to our doorstep. By embracing the continuity of his government, we’re not just supporting these milestone projects and programs, but we’re investing in our collective tomorrow. let’s rally behind these key policy and project initiatives that are already shaping Enugu state’s future – this is, after all, the people’s business.
cational facilities (Smart Schools) across Enugu State will integrate cutting-edge technology, improve educational standards, and provide inclusive classrooms. These Smart Green Schools are designed to be eco-friendly, energy-efficient, and equipped with state-of-the-art infrastructure, creating a conducive learning environment that fosters academic excellence, innovation, and holistic development for students.
Quality Healthcare: The ongoing construction of 260 Type C Hospitals in Enugu State is a groundbreaking initiative that is garnering recognition from global health stakeholders for its transformative potential. These hospitals are expected to provide comprehensive healthcare services, improve health outcomes, and increase access to quality medical care for residents across the state, thereby addressing healthcare disparities and enhancing the overall wellbeing of the population.
Agricultural Revolution: The Enugu State Government’s “One Political Ward, One Farm Estate Initiative” involves constructing farm estates across all 260 wards, aiming to promote food security, create jobs, and enhance agricultural productivity. This initiative is expected to boost agricultural output, increase farmers’ income, and provide employment opportunities for youth and women, thereby contributing to the state’s economic growth and development. By leveraging modern farming techniques, technology, and irrigation systems, the initiative seeks to transform Enugu State into a food-secure and agriculturally prosperous region.
Infrastructure Development: Governor Mbah’s administration is driving development through various initiatives, including a $100 million FDI agreement with an Austrian firm to modernize water infrastructure, partnerships with the European Union for development, and infrastructure transformation projects. These initiatives aim to improve access to clean water, enhance transportation networks, and upgrade public infrastructure, thereby creating a more conducive environment for businesses, investors, and residents to thrive. By investing in infrastructure development, the administration seeks to unlock the state’s economic potential, improve the quality of life for citizens, and make Enugu State an attractive destination for investment and tourism.
Security and Safety: Mbah’s administration has made notable strides in enhancing peace and stability in Enugu State through effective security measures. One key achievement is the partnership between the state government and the Army, with the Chief of Army Staff commending the government for being a good partner in the fight against insecurity. The establishment of the Enugu State Security Trust Fund is also worth mentioning. These efforts have contributed to a safer environment, allowing citizens to go about their daily activities without fear, and creating a more favorable climate for economic growth and development.
Business-Friendly Environment: Governor Mbah’s administration is fostering a business-friendly environment in Enugu State through initiatives that promote investment, innovation, and economic growth. By streamlining regulatory processes, providing incentives for entrepreneurs, and investing in infrastructure, the administration aims to attract local and foreign investment, stimulate entrepreneurship, and create jobs. This approach is designed to diversify the state’s economy, increase revenue, and improve the overall standard of living for residents.
-Aneke, Chief of Staff to Senate Minority Whip, writes from Abuja
The Christy Ray Okoye Foundation, a humanitarian initiative established by Ambassador Christy Ray Okoye, has been making a significant impact in the lives of vulnerable women and children. Recently, the foundation carried out an empowerment programme in collaboration with Women Aligned for Growth (WAG) and Widow Advocacy Coalition in Nigeria (WACIN). The initiative aimed to celebrate and support vulnerable women in the community, providing them with the necessary tools and resources to improve their socio-economic status. Writes MARY NNAH
In a world where genuine philanthropists are scarce, one woman has dedicated her life to making a difference. Ambassador Christy Ray Okoye, nee Ikeotuonye, a humanitarian icon, has been tirelessly working to empower the less privileged in her community and beyond for over 20 years. Her selfless acts and generosity have earned her the revered title of "Ojiefiemeogo," a symbol of her extraordinary philanthropic endeavours.
Although poverty, inequality, and social injustice continue to plague communities, philanthropy has become a beacon of hope for many. The Christy Ray Okoye Foundation, a humanitarian initiative established by Ambassador Christy Ray Okoye, is one such organisation that has been making a significant impact in the lives of vulnerable women and children.
The foundation, which was inspired by the selfless work of Mother Theresa, has been providing support and empowerment to women in need, including widows, and helping them to rebuild their lives.
In a recent initiative, the foundation partnered with Women Aligned for Growth (WAG) and Widow Advocacy Coalition in Nigeria (WACIN) to launch a comprehensive empowerment programme. The programme provided financial support, training, and mentorship to equip women with the skills needed to achieve self-sufficiency. The results were transformative, with many participants experiencing significant economic gains and some successfully launching their own businesses, forever changing their lives for the better.
The Christy Ray Okoye Foundation's work serves as a shining example of the positive impact that philanthropy can have on individuals and communities, and its legacy of kindness and compassion will undoubtedly continue to inspire others for generations to come, as the foundation's efforts continue to unfold.
The Christy Ray Okoye Foundation is a shining example of the positive impact that one person can have when driven by a passion to help others. Lady Christy, a woman of deep spiritual persuasion, has been a bastion of succor and help to the downtrodden in her local community for over 20 years. Her name has become synonymous with her strong identity and unmatched zeal for the empowerment of the less privileged in Ifite Dunu , Anambra State and environs.
The foundation, which was established over 20 years ago, has been a driving force behind Lady Christy's philanthropic efforts. Inspired by the selfless work of Mother Theresa, the foundation has been instrumental in providing support and empowerment to vulnerable women, including widows, and helping them to rebuild their lives.
Recently, the Christy Ray Okoye Foundation carried out an empowerment program in collaboration with Women Aligned for Growth (WAG) and WACIN. The initiative aimed to celebrate and support vulnerable women in the community, providing them with the necessary tools and resources to improve their socio-economic status.
The programme was a resounding success, with many beneficiaries expressing gratitude for the foundation's efforts. The empowerment programme not only provided financial assistance but also offered training and mentorship to help women develop new skills and become self-sufficient.
The impact of the empowerment programme was profound, with many women reporting an improvement in their economic situation.
Some even started their own businesses, becoming entrepreneurs and job creators in their communities.
One beneficiary, who wished to remain anonymous, expressed her gratitude to the foundation, saying, "I am forever grateful to Lady Christy and her foundation for their kindness and generosity. The empowerment programme has given me a new lease on life, and I am now able to provide for my family."
The Christy Ray Okoye Foundation's empowerment programme is a demonstration of the positive impact that philanthropy can have on individuals and communities. As the foundation continues to grow and expand its reach, its legacy of kindness and compassion will undoubtedly inspire others to follow in its footsteps.
The Christy Ray Okoye Foundation has become a symbol of hope for many in the community. Lady Christy's dedication to her cause is rooted in her deep spiritual persuasion and her desire to make a meaningful impact in her community. Her work serves as a shining example of the difference that one person can make when driven by a passion to help others. As the foundation continues to grow and expand its reach, its impact will be felt far and wide. The Christy Ray Okoye Foundation is a true embodiment of the power of philanthropy to transform lives and communities, and its legacy will undoubtedly continue to inspire others for generations to come.
Future of the Foundation
The Christy Ray Okoye Foundation has a bright future ahead of it. With its continued growth and expansion, the foundation will undoubtedly continue to make a significant impact in the lives of vulnerable women and children.
Lady Christy's vision for the foundation is to continue to empower women and provide them with the necessary tools and resources to improve their socioeconomic status. Her goal is to create a community where women are empowered and able to provide for themselves and their families.
The foundation is a true example of the power of philanthropy to transform lives and communities. Its legacy of kindness and compassion will undoubtedly continue to inspire others for generations to come.
Emma Okonji
The latest statistics released by the Nigerian Communications Commission (NCC) on Mobile Number Portability (MNP), shows that MTN topped the list of inward porting in the last one year, followed by Airtel, while 9mobile recorded the highest number of outward porting in the last one year.
Inward porting is the number of subscribers that ported from another service provider’s network into a particular service provider’s network in search of better service quality, while outward porting is the number of subscribers that ported to another service provider’s network from a particular service provider’s network as a result of poor service quality.
Mobile Number Portability is the transfer of mobile number from one service provider to another, on the request of the telecoms subscriber
Emma Okonji
Internet eXchange Point of Nigeria (IXPN), Nigeria’s largest Internet Exchange Point that facilitates the exchange of local internet traffic within Nigeria and the West African region, has achieved a historic milestone of attaining 1Terabit per second (1Tbps) domestic internet traffic in Nigeria.
Registered in 2007 as a nonprofit and membership-based organisation serving as a critical hub for interconnection between ISPs, content networks, enterprises, and digital platforms, IXPN was operating at a very minimal internet speed from inception, but attained 20 megabits per second (20mbps)
who wishes to change service provider as a result of poor service quality experienced on the network. While the MNP policy allows the subscriber to maintain the original mobile number on the new network, the policy also stipulates that the subscriber must remain on the new network for a period of at least 90 days before the subscriber could port back to its original service provider’s network or to any other network of choice.
According to the statistics on inward porting, which THISDAY obtained from the official website of NCC, more subscribers ported to the MTN network on a monthly basis from January 2024 to January 2025, followed by Airtel.
In January 2024, MTN recorded 2,270 inward porting, followed by Airtel, which recorded 541, Globacom recorded 187 and 9mobile recorded 156, which brought the total number
domestic internet speed from 2007 to 2010. In 2011, the speed of connectivity grew to 120mbps, and continued to grow as more access and content providers were connected to IXPN, before reaching a milestone of 1Tbps domestic internet speed.
Announcing the milestone at a press conference in Lagos on Wednesday, CEO of IXPN, Mr. Muhammed Rudman, said the milestone signified a major leap forward in developing Nigeria’s internet infrastructure and underscores the critical role of local internet infrastructure in driving economic growth, innovation, and connectivity for millions of Nigerians.
of inward porting to 3,154 in January 2024.
In February 2024, MTN recorded 2,989 inward porting, Airtel (682), Globacom (198) and 9mobile (75), which brought the total number of inward porting to 3,944 in February 2024.
In March 2024, MTN recorded 1,296 inward porting, Airtel (343), Globacom (210) and 9mobile (62), which brought the total number of inward porting to 1,911 in March 2024.
In April 2024, MTN recorded 2,482 inward porting, Airtel (784), Globacom (370) and 9mobile (33), which brought the total number of inward porting to 3,669 in April 2024.
In May 2024, MTN recorded 3,379 inward porting, Airtel (776), Globacom (286) and 9mobile (226), which brought the total number of inward porting to 4,657 in May2024.
In June 2024, MTN recorded
“The milestone is more than just a number. It’s a symbol of Nigeria’s digital maturity and our united strides towards becoming a tech-driven nation. By keeping local internet traffic within Nigeria, we reduce costs, improve speeds, and ensure our digital economy thrives with homegrown infrastructure. Achieving 1 Tbps is a significant victory for Nigeria’s ICT ecosystem, a breakthrough for domestic internet traffic. It serves as a catalyst, enabling millions of Nigerians to enjoy faster, more affordable and resilient internet connectivity. The milestone is a game-changer for Africa’s most populous country,” Rudman said.
According to him, for mega
2,655 inward porting, Airtel (698), Globacom (347) and 9mobile (22), which brought the total number of inward porting to 3,722 in June 2024.
In July 2024, MTN recorded 4,238 inward porting, Airtel (1,629), Globacom (483) and 9mobile (11), which brought the total number of inward porting to 6,361 in July 2024.
In August 2024, MTN recorded 3,617 inward porting, Airtel (2,287), Globacom (569) and 9mobile (40), which brought the total number of inward porting to 6,513 in August 2024.
In September 2024, MTN recorded 4,987 inward porting, Airtel (2,205), Globacom (664) and 9mobile (30), which brought the total number of inward porting to 7,886 in September 2024.
In October 2024, MTN recorded 3,624 inward porting, Airtel (1,747), Globacom (451) and 9mobile (25), which brought the total number of
video calls, the speed of 1 Tbps can support over one million concurrent Zoom calls, allowing students, entrepreneurs, and professionals to connect and drive Nigeria’s digital revolution, adding that with 1 Tbps, more than 200,000 people can stream HD Nollywood films or movies on Netflix simultaneously without any buffering or interruptions. Rudman further explained that the speed would enable the transfer of the entire contents of 50,000 Smartphones, including photos, apps, and videos, in just one second.
“For Nigeria, hitting this milestone means reducing reliance on international bandwidth, decreasing latency for local services, and strengthening
inward porting to 5,847 in October 2024.
In November 2024, MTN recorded 3,019 inward porting, Airtel (1,266), Globacom (414) and 9mobile (27), which brought the total number of inward porting to 3,019 in November 2024.
In December 2024, MTN recorded 1,856 inward porting, Airtel (835), Globacom (290) and 9mobile (17), which brought the total number of inward porting to 2,998 in November 2024.
In January 2025, MTN recorded 5,551inward porting, Airtel (2,414), Globacom (736) and 9mobile (7), which brought the total number of inward porting to 8,708 in January 2025.
The NCC statistics on outward porting, showed that 9mobile recorded the highest in the last one year, which explained that more subscribers left the 9mobile
our position as Africa’s digital heartbeat. The milestone is a testament to the power of collaboration, innovation, and the relentless pursuit of a faster, more connected Nigeria,” Rudman further said.
Marketing Manager at IXPN, Mr. Raphael Iloka said the accomplishment would go beyond technical advancements, since it has significant economic implications.
“By encouraging local traffic exchange, IXPN reduces dependency on international bandwidth, leading to significant cost savings for Nigerian businesses, enhanced speed and connectivity, increased resilience to global disruptions, improved efficiency in digital services like
network to other networks in search of better service quality. According to the statistics, in January 2024, 9mobile alone recorded 2,163, out of a total of 3,154 outward porting recorded across networks.
In February 2024, 9mobile alone recorded 2,947, out of a total of 3,944 outward porting recorded across networks.
In March 2024, 9mobile alone recorded 1,333, out of a total of 1,911 outward porting recorded across networks.
In April 2024, 9mobile alone recorded 2,719, out of a total of 3,669 outward porting recorded across networks.
In May 2024, 9mobile alone recorded 3,604, out of a total of 4,657 outward porting recorded across networks.
fintech, edtech, e-commerce, and e-health, thus propelling innovation and growth in these sectors.
Surveys conducted among IXPN members over the years have shown a growing percentage of local internet traffic in Nigeria. A recent report indicates that some connected members can domesticate up to 70 per cent of their internet traffic through IXPN,” Iloka said. According to him, as more content providers, ISPs, banks, and public institutions localise their traffic through the IXP, end users will benefit directly. “Together, we have established a hub where networks can interconnect, innovate, and thrive,” Iloka further said.
Head of Converged Digital Infrastructure, Open Access Data Centres, Mr. Obinna Adumike, speaks about how data centre operations are driving Africa’s digital transformation and how OADC’s investment in data centre infrastructure is enabling connectivity, cloud and edge computing. Emma Okonji presents the excerpts:
I will like you to speak about the digital transformation in Africa in relation to data centre operations. What are the prospects and the challenges?
Over the past decade, the continent has made remarkable strides in adopting and leveraging digital technologies, positioning itself as a hub for innovation and growth. The past few years have seen the advancement of Fintech, as well as a massive growth in e-commerce, e-health, Agric-tech and Edtech. Jobs and businesses are being created and are thriving around various social media platforms. Such developments are creating positive impact and supporting a transforming Africa. All of this is possible due to major advancements in digital infrastructure, including significant investment in high-capacity subsea and terrestrial cable systems to carry Africa’s ever-expanding data and data centres that support business ecosystems and drive local interconnectivity, broadband rollout and mobile communication deployment. The expansion of data and data centres across Africa are enabling businesses and consumers to connect effectively.
One example of transformation is the massive growth in internet penetration on the continent from a modest 16 per cent in 2013 to about 45 per cent by 2024. You can see tremendous growth in countries like Morocco, Libya, Seychelles, Botswana, Mauritius and South Africa, all with internet penetration rates that are between 70 per cent and 90 per cent. Also countries like Kenya, Nigeria, Ghana, Senegal, Cape Verde and Djibouti are in the range of 40 per cent to 69 per cent, all of which are comparable to global averages.
Whilst these are great improvements, a lot still remains to be done to consolidate the gains and drive further growth. Many remote regions continue to lack basic IT infrastructure like fibre-optic cable systems and access to reliable power, which ultimately are basics for innovation. Security is another major challenge that needs to be addressed, and regulators have a responsibility to provide a level digital playing field that protects IT infrastructure companies and assets.
Where is digital transformation or digital dynamics in Africa going from here, and what does the future portend?
The future of digital transformation in Africa is incredibly promising, with key trends indicating accelerated growth, deeper integration of technology across sectors and greater economic impact. Internet access will continue to grow,
supported by the establishment of new initiatives by Internet Service Providers (ISPs) in extending existing broadband access. Domestic and international cloud and content providers and distributors will continue to establish more points of presence on the continent, extending their reach and improving user experience for consumers. These will by extension drive the need for more data centre capacity - to support hyperscale expansion, growing business demand for co-location and value-added service, and government initiatives concerning data sovereignty and repatriation. It is estimated that data centre revenue in Africa will continue to increase at an annual compound growth rate of 7.35 per cent between 2025 and 2029. Africa needs about 750MW of DC power from its current installed 250MW capacity to optimally support its workload and digital economy. Seeing the advancement in Artificial Intelligence (AI) and the inflow of global content and cloud providers also supports this argument. AI adoption in Africa will
increase rapidly, with services and processes built around AI hosted in Africa. If African governments can guarantee protection for investments and a stable economy, I see Africa becoming the new hub for AI, especially as Europe’s power sector is already strained. This has the potential to revolutionise sectors like agriculture, finance and healthcare, enhancing productivity and decision-making. Also, a new age of AI-powered chatbots and automation will drive efficiency, especially in customer service and government services.
In the area Fintech and digital payments expansion, mobile money transactions in Africa exceeded $1 trillion in 2022, and this number will keep rising as financial inclusion deepens. The demand for digital skills training will grow, leading to more investments in Edtech platforms and online learning.
WIOCC prides itself as the digital backbone of Africa. What is its impact on Africa’s digital transformation?
You’re right. At WIOCC, we take great pride in being the digital backbone of Africa, a role that goes beyond providing reliable, high-capacity metro, national and international connectivity to include building and operating open-access data centres, enabling cloud connectivity and providing the human resources to deliver infrastructure, innovation and impact. Our wholesale digital infrastructure supports the creation and operation of seamless, high-capacity digital services that drive Africa’s digital transformation, ensuring that businesses, governments and individuals have access to the digital tools and capabilities needed to thrive in an increasing digital world. Being Africa’s digital backbone means WIOCC is the hub of the continent’s connectivity, data centre and cloud ecosystem.
Strategic investment in the subsea cables connecting Africa to the world, and the world to Africa, is critical to our role in the industry. WIOCC is a key partner in major subsea cables such as Equiano, 2Africa and EASSy, ensuring Africa’s global connectivity. For instance, during the unprecedented submarine cable cuts of the coast of West Africa in March 2024, WIOCC’s network - together with Open Access Data Centres (OADC) Lagos - the landing station for the Equiano cable system, played a critical role in supporting the region’s digital economy.
Our infrastructure delivered stability of international connectivity, even throughout the restoration process. Open Access Data Centres is another member of WIOCC Group, dedicated to constructing and operating open-access, Tier-III data centres that are becoming critical for hosting critical IT workloads, delivering cloud connectivity and content delivery, and underpinning enterprise digital transformation, enabling businesses to scale without reliance on offshore data hosting. OADC is at the forefront of cloud adoption in Africa, providing low-latency, highspeed interconnection with global cloud platforms via our recently launched OAfabric. Our network of smaller, edge data centres ensure data is processed closer to the user, improving efficiency and supporting applications like Internet of Things (IoT) and AI.
Finally, WIOCC’s Open Access Metro services has in a single year, deployed wholesale broadband connectivity to over five million homes in partnership with local ISPs in Lagos, Nigeria. This is a project that directly impacts people and businesses for the better.
What are some of the deliverables from the WIOCC Group, which OADC belongs to?
WIOCC Group companies deliver wholesale infrastructure solutions that form the foundation for ISPs, cloud operators, mobile network operators, financial enterprises, oil and gas companies, small/medium enterprises (SMEs) and indeed everyone to deliver world-class digital services that have direct positive impact on the continent. Our infrastructure supports mobile money platforms and digital banking solutions, ensuring seamless transactions across borders and facilitating financial inclusion for millions. With low-latency, high-speed connectivity, startups, SMEs and large enterprises can leverage digital tools, cloud services and AI to scale their operations. WIOCC’s ecosystem is also enabling Africa’s growing tech hubs and innovation centres. WIOCC infrastructure underpins streaming services, social media and content platforms, ensuring users across Africa enjoy high-performance entertainment services and content consumption. Our robust digital infrastructure is a key enabler for Smart City initiatives, IoT applications and AI-driven solutions, ensuring Africa is ready for the next phase of technological advancement.
The story continues online on www.thisdaylive.com
The food seasoning market in Nigeria is becoming segmented as people in the Northern region continue to show preference for MSG. In this interview, the General Manager, Sales and Marketing for AJINOMOTO, Isa Hassan Shallangwa bares his mind about the market, the differentiating factor for the brand and effort being made to maintain its strong heritage. Raheem Akingbolu brings the excerpts
The food seasoning industry in Nigeria is already saturated. How are you navigating this reality and positioning yourself as a brand to reckon with in that market space?
AJINOMOTO is a unique brand owing to its quality and standard which is recognized globally. If you talk of those who play in the Nigerian market as far as the food seasoning industry is concerned, it is a reputable brand. We have a strong brand name, presence and heritage, which has kept us going. Without a doubt, we are a leader in the category we play owing to the fact that we keep to standard. It is the same quality taste of the brand in Japan that you also get to feel in Nigeria.
It is important to note that as a business we are keen on taste. Even from the meaning of AJI-NO-MOTO which is a Japanese word, it means essence of taste. We are giving the right Umami taste without any compromise to quality and safety. Currently, we have 99% + Monosodium glutamate, which is made through a natural fermentation process. It is the same as the process used to make your yogurt, you make your milk, or cheese. We expand our offerings to meet the specific needs of Nigerian consumers in the powdery seasoning which allows us to provide value that resonates more deeply with the local market and our target audience. This helps create an emotional connection with customers, which is vital in a saturated market.
Talking about processing, how do you think the brand is improving nutrition?
The company’s Nutrition commitment is aimed at providing products that support “delicious salt reduction” and “protein intake optimization” by contributing to wellbeing with amino science all over the world. Now, one of the key benefits of the product is that when used in your meals, it helps to reduce saltiness without compromising the palatability. You see that in the fast paced world where people are conscious of Eating well and Living
well, too much of high salt content in the dishes is not good. So, this is one of the key benefits of the brand because it contributes to reducing saltiness and giving deliciousness to the dishes. Besides, it enhances nutrition worldwide by supporting healthier diets and lifestyles across diverse communities.
What is the brand doing to differentiate itself from other seasoning products in the market?
Through a combination of quality, innovation, and cultural relevance our brand differentiates itself and stands unique. We have taken bold steps to prioritize consumer health by offering quality products that promote health and well-being. Our product is safe, hygienically produced and well packaged. We have a lot of communication initiatives to sensitize and inform our esteemed consumers of the values we encompass; everything from the company’s values, mission, and vision to its unique identity- logo, name, packaging
etc.Let me quickly add one key difference from the illegal rewraps: AJI-NO-MOTO product packaging features includes, the big red bowl mark pot, the name boldly written, the NAFDAC registration number and MANCAP seal of quality from the Standards Organization of Nigeria SON. We are strengthening our communications at that level to the public.
With the increase of adulterated MSGs in the market, how do you think the government can intervene to protect your brand image?
For us, it is no longer news that the proliferation of adulterated monosodium glutamate (MSG) products in the market poses significant risks to public health and can tarnish the reputation of legitimate brands. To safeguard brand integrity and consumer trust, government intervention is crucial. We believe the government needs to be strict in enforcing the rules to sanitize the system. By doing so, our name as a brand will be protected. Because we play by the rules and pay our taxes regularly, we expect that the same rules or regulations should be extended to other players. As a brand with strong heritage, we are very cautious of any negative narrative that would bring our brand into disrepute. That is why we continue to intensify campaigns on our products emphasizing quality and safety assurance.
In specific terms, what sort of intervention do you want the government to make?
For me, I would like to call on the government to strengthen the issues of regulations and Regulatory Enforcement by intensifying surveillance and enforcement actions against the production and distribution of adulterated MSG products so that all the companies under this category operate on
the same level playing ground. We are suffering quantifiable and unquantifiable losses as a result of the indiscriminate dumping of unbranded MSG in the market. Those who cannot differentiate often describe every seasoning like ours as our brand. This alone, is eroding the confidence and equity that our brand enjoys in the market. That is why we are appealing to the relevant government agencies to come to our aid. We know how much it has taken to build this brand and we don’t want to lose it in a jiffy especially in the Nigerian market
In terms of brand extension, what are the plans for your brand?
We have a couple of brands in the market that are doing extremely well. The interesting thing about these brands is that they occupy a pride of place in other West African markets when it comes to food seasoning. If you go to countries like Ghana, Senegal, DeliDawa™ is one seasoning food vendor or household do not joke with. As we speak, we are doing a lot of research and innovations that would lead to unique products that meet the yearnings of our teeming consumers. Yet, we would not rest on our oars in our quest to come up with products that our consumers truly desire at every given time.
How does your brand support food security and nutrition education in Nigeria?
It actively contributes to food security and nutrition education in Nigeria through ensuring product safety and quality, that is, we guarantee best manufacturing and production practices. Also, by advocating for salt reduction, we recognise the health implications of high sodium intake; hence the product serves as a healthier alternative to traditional salt. By enhancing the umami flavor in meals, it allows for significant salt reduction without compromising taste.
Stories by Emma Okonji
Collaboration among financial service providers, telecommunication operators and tech startups, as well as conscious efforts geared at consumer awareness, have been proffered as key remedies to the challenge of financial inclusion in Nigeria.
Stakeholders that gathered for the second edition of Payment Forum Nigeria (PAFON 2.0) held recently in Lagos, suggested the remedies at the forum.
Delivering a keynote address on the theme: “Bridging the Customer Experience Gap for Financial
Inclusion Using AI”, Chief Executive Officer of AfriGoPay Financial Services Limited, Mrs. Ebehijie Momoh, said with 64 per cent of Nigerian adults being financial included, the country has made immense progress in that regards.
She said between 2012 till date, the country has recorded robust regulatory reforms, especially the launch of the Bank Verification Number (BVN) in 2014 making it easier to identify and track customers across different banks.
“This initiative enhanced the credibility of the financial sector and increased confidence in formal banking systems.
The growth in adoption of smartphones has also helped the financial sector to leapfrog financial inclusion. Nigeria has 142.16 mobile internet subscriptions with an average consumption of ~7.04GB / month as of January 2025. If you juxtapose it to the 15.9 per cent decline in shipments of feature phones to 18.8 million units in Africa as at Q1 2024, you will understand that the uptake in smartphones has helped us a great deal,” Momoh said.
In her goodwill message, MD/ CEO, Shared Agent Network Expansion Facilities Limited (SANEF) Limited, Mrs. Uche
Uzoebo, said with progress made in accelerating financial inclusion to unbanked and under-banked communities in Nigeria, SANEF has leveraged Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
Speaking during a panel session, Chairman, Lagos State Chapter of the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN), Mr. Ibirogba Oluwagunwa, spoke about lack of collaboration and slow institutional drive towards AI as key barriers hindering digital inclusion.
Managing Director of PalmPay, Mr. Chika Nwosu,
The Nigeria eGovernment Summit 2025 is set to proffer digital solutions that will enhance effective governance through public-private partnerships.
The summit, which is in its seventh edition, has the theme:
“Public-Private Partnership for Effective eGovernnent Solutions,” and it’s scheduled to hold
August in Ikeja, Lagos.
Organised by DigiServe Networks Services, in partnerships with the Association of Telecoms Companies of Nigeria (ATCON), Federal Inland Revenue Service (FIRS) and the Nigerian Communications Commission (NCC), the summit seeks to bring together, government and technology services providers,
including the citizens who are the beneficiaries of technology services, to discuss the importance of leveraging emerging technologies that enhance government services delivery to citizens.
Convener of Nigeria eGovernment Summit, Lanre Ajayi, while speaking at a press conference in Lagos to announce this year’s summit, said:
“Nigerian citizens deserve good governance to better their lives. Government needs to embrace emerging technologies to facilitate effective government service delivery. The summit will promote discussions around eGovernance and proffer solutions to effective governance through collaboration and publicprivate partnerships.”
reiterated the need to reach the consumers with simple format communication and education style.
Anammah: 2025 is recovery year for Nigerian Breweries
Kayode Tokede
For withstanding the storm of 2023 and 2024 financial years, the new Chairman of Nigerian Breweries Plc, Juliet Anammah, yesterday in Lagos declared the 2025 financial year as a recovery year for the multinational breweries company operating in Nigeria.
While speaking with select journalists at the corporate head office of the company, she stated that 2023 & 2024 were extremely difficult years for manufacturing companies as some exited from the country, while some companies reassessed their portfolio.
She noted that Nigerian Breweries with over 70 years operating in Nigeria weather the storm by developing a business recovery plan.
She highlighted that high inflation rate and the devaluation of the naira impacted on the company’s performance for two consecutive years.
Issue. It was accepted by shareholders. We’re so grateful that that happened, because what that did for us was that by the end of 2024, we were then able to significantly reduce our loan portfolio, and you can see that in our first quarter financial in 2025.”
The company in Q1 2025 declared a Profit After Tax of N45 billion representing a significant increase of 187per cent relative to the N52 billion loss recorded in Q1 2024. Nigeria’s foremost brewing company, recorded an impressive result in the Q1 2025 financial year, with a net revenue of N383 billion, 69 per cent increase over N227billion declared in Q1 2024.
She said the future remains volatile, expressing fear over domestic and global uncertainties.
Accompanying the team on the visit was the Honorable Commissioner for Environment in Ogun State, Ola Oresanya. Director, Sustainability, IHS Nigeria,
IHS Nigeria, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, recently visited the Olabisi Onabanjo University Teaching Hospital (OOUTH), Sagamu, to evaluate the operational status and impact of the oxygen plant donated by IHS Nigeria in collaboration with United Nations Children’s Fund (UNICEF) and the Canadian Government in 2023 as part of a collaborative health infrastructure intervention initiative..
Titilope Oguntuga, said: “As a responsible organisation, we find ways to impact communities in the markets we serve. In demonstrating our commitment, we also ensure that our investments are running smoothly, which is why we visited OOUTH. This is the first institution we donated an oxygen plant to and is also the first we are visiting to
assess its impact and operational status.”
Chief of Field Office, UNICEF, Celine Lafoucriere, said: “We cannot overemphasise the power of partnerships in achieving health equity. This is what building resilience in health systems entails: combining expertise, funding, and a shared goal.”
Anammah said, “We can look at our cost structure and figure out, ‘what are the things that are extremely important, and what are the things that for cost effectiveness, can be defined. What are other areas where we can say okay from the capacity perspective, let’s reduce capacity here and concentrate in other areas. Those are the kinds of decisions we had to make.
“And then, most importantly, was launching the N599.1 billion rights
“What we don’t know is what the environment will be in the next few months. President Donald Trump may get up and decide that he wants to raise the tariff. We just don’t know these dynamics. But what we do know are the things that we know how to do. We know how to brew drinks. We know how to make beverages, Malt and all that and we know how to satisfy our customers. We know how to build brands that will satisfy our customers. These are things that are paramount to our strategy,” she said.
Eromosele Abiodun
The senator representing Ondo South Senatorial District and Chairman/Chief Executive Officer of Global Fleet Group, Senator, Bar. Jimoh Ibrahim has tasked Africa economies, the World Bank and International Monetary Fund (IMF) on the positive impact of data on Africa’s development agenda.
Speaking at the sidelines of the ongoing IMF/World Bank Spring Meetings in Washington DC, he said that data is critical element in economic and political development.
He explained that data serves as the foundation on which new African economic development will be established.
According to him, “Without data, no one can effectively reduce crime or operate a government aimed at achieving poverty reduction. Population data and individual details suggest that citizens should have an identity passport to capture pertinent information about who they are and what they do.”
Currency data, he said, indicates that central banks in Africa must understand how much currency exists within and outside the banking sector for effective planning.
“Electoral data is necessary to comprehend the level of public participation and why others are not involved in the political process. Every sector of the economy requires data, and if action is not taken now, in five years, it will be impossible to run any government without data, Ibrahim posited,” he stated.
Ibrahim said that no one can help Africa without data. He disclosed that based on the current economic outlook, we cannot guess or assume that it is in a critical situation.
“We cannot grow in Africa without data. We should invest 15 per cent of our budget in technology-powered data for the next ten years. Our development is impossible without data,” he said.
Warning the IMF to stop making projections without empirical data, he said the Nigerian government will
soon take the lead when the current Data Bank bill is passed into law; everyone will be a stakeholder in the new Data Bank.
When the bill is passed, Ibrahim urged the World Bank to support the Nigerian federal data bank.
He advises the IMF to loan only to African countries with a data bank.
Ibrahim said, “I think that you want the loans you are given to Africa to be paid back, and you want Africa to develop. My only question is, can any country develop without a data bank? Why are you not insisting on one, and how are you obtaining your projected African economic outlook without country data? Once you send your people there and they collect a sample survey, you input it into your Excel and generate figures, with less than 1% of the population of interest supporting such illegitimate data being used to give a loan. I ask you to be fair to Africa.”
In a bid to bridge Nigeria’s fragmented market and tackle rising youth unemployment, a homegrown tech startup is gaining traction as a tool for economic empowerment.
Launched in November 2024, Blinkers Business Directory—founded by Dr. Opeyemi Abe, a medical doctor-turned-tech entrepreneur—is positioning itself as a one-stop platform for small and medium-sized enterprises (SMEs) across Nigeria and West Africa. Combining marketplace features, a job board, and a business directory, Blinkers connects businesses with customers, employees, and other entrepreneurs.
Nigeria is home to over 40 million SMEs, yet many operate in isolation due to poor infrastructure, limited digital tools, and lack of visibility. Blinkers addresses this gap by offering free business listings, customer messaging features, and affordable promotional tools. In just a few months, it has recorded over 18,000 downloads and 10,000 business sign-ups.
“Our goal is to create a regional trading hub,” Abe said. “A place where someone in Lagos can order crafts from Côte d’Ivoire or fashion from Accra.”
The app also includes a job board that has already facilitated over 100 job applica-
tions, bringing a new layer of opportunity to a country where youth unemployment nears 40%. For SMEs, Blinkers offers not just visibility but tools for growth—such as price comparisons, reviews, and access to new suppliers.
Inspired by an old NITEL phonebook, Abe built Blinkers to replicate that sense of connection, but in a digital form. Integrated with WhatsApp and Facebook, it fosters real-time interaction and trust.
Despite its potential, scaling the platform has been costly. Abe, who has self-funded the project, emphasizes the need for policy support—such as grants, tax incentives, and government-backed visibility.
Africa’s foremost Nollywood production company, Anthill Studios, has officially unveiled its much talked about family sitcom, Temi & The Labalaba Band (TATLB), which is rapidly gaining popularity on YouTube and receiving acclaim across media platforms.
The new series has garnered endorsements from numerous Nigerian celebrities and stakeholders drawn from Nigeria’s creative industry, including notable Nollywood stars, media personalities, and industry regulators.
The federal government, through the Ministry of Art, Culture, Tourism, and Creative Economy, has recognized the show as an important advancement in Nigerian arts and culture, supporting the country’s vision of becoming Africa’s creative, cultural, and entertainment capital.
TATLB narrates the musical story of Temi, Barry, Rasak, Mina and Boniface. Their band, set up by 12-year-old Temi with her friends, aims to boost patronage of her grandmother’s restaurant as a significant drop in sales and
the imminent threat of eviction by the landlord hung over the business.
In the remarkably produced show, Mama B’s restaurant is a middle-class establishment in the heart of Lagos, serving mostly traditional meals alongside the usuals. It also serves as a relaxation spot where locals gather to watch football and fraternize. It was the place for everyone to drop by for a taste of Nigerian delicacies. It would have been a very sad situation for such a community watering hole to close shop.
Rather than consign themselves to a gloomy fate, the band became a pleasant supplement that helped bolster the restaurant with music and dance, in addition to delicious food and bonding.
The show, comprising a total of 13 episodes with 27 minutes per episode, is broadcasting primarily on YouTube where it’s quickly amassing a dedicated following. It will also be available on terrestrial and cable stations, as well as on streaming platforms Netflix and Amazon Prime. The series
is delivered in three foremost global languages - English, French, and Portuguese.
Executive Director and Chief Executive Officer of the National Film and Video Censors Board (NFVCB), Dr. Shaibu Hussein, described the comedy sitcom as a deep-sighted creation to bolster interest in Africa-focused children’s videos while nurturing future leaders of the Nigerian film industry. He further stated that TATLB is part of a mission by Anthill Studios, through its arm, Anthill Family, to reshape the landscape of children’s and family cinema, by reminding parents of the transformative power of experiences that awaken their children’s curiosity and ignite their sense of adventure and leadership.
In her comments, Temi Ajamolaya, who plays the band leader, said she was motivated by a desire to become a child actor and singer in the future. The mission to rescue her character’s grandma’s restaurant, she added, was particularly touching as it symbolized what is attainable with family affection and hope.
Kayode Tokede
The management of Nigerian Breweries Plc has turnaround its recent poor results to positive outcome with its first quarter ended March 31, 2025 showing a migration from a loss of N65.58billion in Q1 2024 to N69.99 billion profit before tax in Q1 2025. The Q1 2025 unaudited result and accounts rel The Nigerian stock market
yesterday maintained its upward momentum as the overall capitalisation rose by N342 billion on investors’ demand for First Holdco that gained 5.9 per cent.
The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 544.06 basis points or 0.52 per cent to close at 105,283.67 basis points. Accordingly, the NGX ASI in its month-to-date and year-to-date returns settled at
-0.4per cent and +2.3per cent, respectively.
Also, market capitalisation rose N342 billion to close at N66.159 trillion.
Market breadth was positive, with 34 stocks advancing against 17 decliners. ABC Transports recorded the highest price gain of 9.86 per cent to close at N1.56, per share. VFD Group followed with a gain of 9.62 per cent to close at N17.10, while Learn Africa up by 9.54 per cent to
close at N3.56, per share. Regency Alliance Insurance appreciated by 9.43 per cent to close at 58 kobo, while Africa Prudential rose by 8.63 per cent to close at N15.10, per share.
On the other hand, Tripple Gee & Company led the losers’ chart by 10 per cent to close at N1.98, per share. MRS Oil Nigeria followed with a decline of 9.95 per cent to close at N157.50, while Abbey Mortgage Bank declined by 9.94 per cent
to close at N8.79, per share. John Holt depreciated by 9.68 per cent to close at N7.00, while Austin Laz & Company declined by 9.57 per cent to close at N1.89, per share.
Also, the total volume traded increased by 110.82 per cent to 744.803 million units, valued at N18.284 billion, and exchanged in 11,226 deals. Transactions in the shares of Fidelity Bank
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 22 April-2025, unless otherwise stated.
Thisday Afrinvest 40 index rose 1.0% to print at 5,096.76 points due to price appreciation in GTCO (+1.7%), ZENITH (+0.2%), and UBA (+5.9%). Cumulatively, these stocks account for 15.8% of the index.
0.5%
Yesterday, bulls tightened grip on the market as buying interest in banking stocks UBA (+5.9%), FIRSTHOLDCO (+5.9%), and FIDELITY (+8.3%) pushed the NGX ASI up by 50bps to 105,283.67 points. As a result, YTD return improved to 2.3% (previously 1.8%), while market capitalisation gained 0.5% to ₦66.2tn. Meanwhile, activity level surged as volume and value traded rose 110.8% and 154.1% to 744.8m units and ₦18.3bn respectively.
Across sectors under our coverage, performance was bearish as four indices closed in the red, while the other two closed green. Leading the laggards, the Insurance and AFR ICT indices fell 0.8% and 0.5% respectively, owing to selloffs in CORNERST ( 7.4%) and AIICO ( 2.4%). Similarly, the Oil & Gas and Industrial indices inched lower by 10bps and 2bps accordingly, due to price decline in TOTAL ( 5.4%) and TRIPPLEG ( 10.0%). Conversely, buying interest in UBA (+5.9%), FIDELITY (+8.3%), DANGSUGA (+8.5%) and INTBREW (+5.8%) pushed the Banking and Consumer Goods indices higher by 2.9% and 1.2%, respectively.
Investor sentiment, as measured by market breadth, weakened to 0.19x (previously: 0.31x) as 33 stocks gained, 16 lost while 88 were unchanged. We expect the bourse to extend the mild gains today, driven by bargain activites.
Dr. Agogbuo Chigbo Joshua is a pharmacist, serial entrepreneur, and the CEO and Founder of WholeShield Pharmaceuticals—a brand dedicated to transforming healthcare delivery in Nigeria and across Africa through innovative, science-backed solutions. His expertise extends beyond pharmaceuticals, with active ventures in the skincare and wellness beverage sectors through Evol Skin and WholeEarn. Deeply involved in formulation, brand development, marketing, and sales, Dr. Chigbo’s passion lies in creating products that not only address and treat pressing health issues but also empower individuals to lead healthier lives and support businesses to thrive in the wellness space. While delving into issues like executive health, stress, high blood pressure, prostatitis and even menopause in this interview, he reiterated his passion to deliver inclusive and multi-level affordable wellness solutions to Nigeria. Precious Ugwuzor brings excerpts:
Can you walk us through your career and trajectory?
My career has been a journey of passion, innovation, and commitment to excellence.
After earning my BPharm, PharmD in Pharmacy from the University of Benin and MBA from the University of Lagos, I served as Brand Manager at Naturefield Pharmaceuticals, where I gained valuable experience in brand positioning and market penetration. I later became Country Head of Mason Vitamins Nigeria, overseeing operations and strategic growth, while simultaneously serving as the General Manager of TopHills Pharmaceuticals, responsible for marketing Mason Natural products and Hills Natural products in Nigeria.Beyond my pharmaceutical pursuits, I have always had an entrepreneurial spirit. While studying pharmacy at the University of Benin, I hosted one of Nigeria?s biggest fashion shows, the Evol Fashion Show, which attracted major brands and influencers in the industry. This experience sharpened my skills in event management, branding, and marketing, which I now apply to the healthcare industry.
Can we talk about executive health?
Executive health is an essential aspect of modern healthcare that focuses on maintaining the well-being of business leaders, top professionals, and high-functioning individuals who often face extreme work pressures. The demands of executive roles—long hours, frequent travels, high-stakes decision-making, and sedentary lifestyles—can lead to chronic stress, cardiovascular diseases, hypertension, and metabolic disorders. Maintaining executive health requires a proactive approach, including regular health check-ups, stress management strategies, balanced nutrition, exercise, and targeted supplementation. Many executives today are turning to scientifically formulated wellness solutions that help maintain peak cognitive and physical performance, ensuring they stay at the top of their game.
Why do we have an outbreak of hitherto unknown sicknesses?
The rise of previously unknown illnesses can be attributed to multiple factors, including environmental pollution, lifestyle changes, industrial food processing, increased use of chemicals in agriculture, and exposure to toxins. Additionally, the overuse of antibiotics has led to the emergence of resistant infections, and global travel has facilitated the rapid spread of diseases. A weakened immune system due to poor diet, chronic stress, and inadequate sleep further contributes to increased susceptibility. A more health-conscious approach, including the use of nutrient-dense supplements and immune-supporting antioxidants, has become essential in fortifying the body against these emerging threats.
What about prevalent prostatitis in men, and why do even young boys have it now?
The increasing prevalence of prostatitis in men and even younger boys is alarming and can be linked to several lifestyle and environmental factors. Poor diet, lack of physical activity, excessive alcohol intake, and exposure to endocrine-disrupting chemicals found in plastics and processed foods contribute to prostate inflammation. Additionally, untreated infections, stress-induced immune suppression, and prolonged sitting, which reduces blood circulation to the pelvic region, can also lead to prostatitis. This is why more men are being encouraged to adopt dietary and lifestyle
changes that support prostate health while also incorporating well-researched formulations that aid reproductive and urinary wellness.
What are the main causes of stress in people?
Stress is a modern epidemic driven by multiple factors, including:Work-related stress: High job demands, tight deadlines, and job insecurity.Financial pressures: Economic instability, debt, and rising living costs.Technology overload: Constant digital connectivity leading to mental fatigue. Health concerns: Chronic illnesses and fear of disease. Social and family pressures: Relationship challenges and societal expectations.Managing stress effectively requires a combination of lifestyle changes, mindfulness practices, proper nutrition, exercise, and in some cases, professional therapy or pharmaceutical intervention. Natural adaptogens, essential fatty acids, and micronutrient support have also been recognized as effective in stress management and overall mental clarity.
High blood pressure is a prowling sickness now in the system. The youth are not left out. What can you adduce to this?
The rise of high blood pressure among the youth is a worrying trend that can be attributed to several lifestyle factors, including:Poor diet: High consumption of processed foods, excessive salt, and unhealthy fats.Lack of exercise: Sedentary lifestyles with minimal physical activity.
High-stress levels: Increased academic, financial, and social pressures. Obesity: Rising rates of overweight individuals due to poor nutrition and lack of exercise. Substance abuse: Increased consumption of alcohol, tobacco, and stimulants like energy drinks.Young people need to make more informed choices when it comes to their diet and physical activities. Natural heart-supportive ingredients such as Omega-3s, CoQ10, and plant-derived antioxidants are increasingly being recognized as integral to maintaining cardiovascular health from an early age.
Why do we have so many infertility cases among young men and women
these days?
Infertility is becoming increasingly common due to various factors, including, hormonal imbalances: caused by stress, poor diet, and environmental toxins. Delayed childbearing: Many couples now prioritize career and financial stability, leading to advanced maternal and paternal ages. Exposure to pollutants: Endocrine disruptors in plastics, cosmetics, and pesticides interfere with reproductive health. Sexually transmitted infections (STIs): Untreated infections can lead to blocked fallopian tubes and low sperm count. Obesity and metabolic disorders: Excess weight disrupts hormonal balance and ovulation. Excessive alcohol and smoking: These habits significantly reduce fertility potential in both men and women. Proper lifestyle choices and scientifically supported reproductive health interventions are now key focus areas for many individuals looking to optimize fertility and hormonal balance.
What’s the medical counsel for women transiting into menopause ages—preparing emotionally and psychologically?
Menopause is a significant transition that requires both physical and emotional preparation. Women should:Educate themselves: Understanding the changes helps reduce anxiety,maintaining a balanced diet: foods rich in phytoestrogens, omega-3s, and antioxidants can ease symptoms. Engaging in regular exercise helps maintain weight, reduce stress, and improve mood. Consider supplementation: Certain herbal extracts, essential fatty acids, and hormonal-supporting nutrients have been shown to provide relief from menopause-related symptoms. Seeking emotional support: Joining support groups or counseling will also help to navigate mood swings and mental shifts. Medical consultation: Some women may require hormone replacement therapy (HRT) under
professional supervision.
As a Pharmacist, what do you think the government should do to encourage local drug manufacturing?
For Nigeria to achieve pharmaceutical selfsufficiency and reduce reliance on imports, the government should:Provide funding and incentives: The government should establish low-interest loan schemes and grants for pharmaceutical manufacturers to support research, production, and expansion. This will encourage more investment in local drug manufacturing and reduce reliance on imported medicines. Establish Pharmaceutical industrial hubs: The federal government should set up Pharmaceutical Industrial Hubs in the six geopolitical zones to support middle-scale pharmaceutical manufacturing. This decentralised approach will make it easier to regulate and monitor drug production from the source, ensuring compliance with global standards, enhancing accessibility to essential medicines, and reducing the prevalence of counterfeit drugs in the market.
The hubs will provide shared facilities, technical support, and quality assurance mechanisms for smaller pharmaceutical manufacturers, fostering industry growth and creating jobs in the sector.For Nigeria to achieve pharmaceutical self-sufficiency and reduce reliance on imports, the government should;Improve infrastructure, reliable electricity, good road networks, and access to clean water are critical for pharmaceutical manufacturing. The government should prioritize the development of industrial parks and pharmaceutical hubs with necessary infrastructures to facilitate efficient production. Strengthen regulatory policies: Regulatory bodies such as NAFDAC and the Pharmacists Council of Nigeria (PCN) should streamline approval processes for locally manufactured drugs while ensuring compliance with global pharmaceutical standards. This will promote trust in locally produced medicines and encourage more manufacturers to operate within regulatory frameworks.
The government should encourage research and development: Collaborations between the government, pharmaceutical companies, and academic institutions should be strengthened to promote research and innovation in drug formulations, herbal medicines development, and biotechnology. Grants and funding should be made available to encourage innovation in drug manufacturing. Implementation of import substitution policies: The government should implement policies that reduce reliance on imported medicines by offering tax incentives to companies that manufacture essential drugs locally. This will drive local production and make locally produced medicines more competitive. The government facilitate tax exemptions, minimize import duties on both imported finished pharmaceutical products and raw materials will help manufacturers reduce production costs. This will enable local companies to compete effectively with foreign brands and enhance drug accessibility.
What do you advice to check fake local drugs in Nigeria?
The rise of counterfeit drugs in Nigeria poses a serious health risk. To combat this, the government should strengthen regulatory enforcement: NAFDAC and other agencies should intensify monitoring and clamp down on fake drug manufacturers.
Edited by nseobonG okon-ekonG | gamingweek1117@gmail.com
With one in four Nigerians tucking away betting slips neatly in their back pockets to some of the biggest Nigerian celebrities bagging endorsement deals fronting sports betting brands, Nigeria’s sports betting industry looks like it’s riding high. But behind the growth stats and flashy ads are quiet cracks: gaps in data, blind spots in consumer protection, and habits we’ve normalised without thinking twice. Iyke Bede pinpoints seven issues that deserve more attention
the data mIrage
‘Over 60 million Nigerians bet regularly.’ You are probably familiar with this line by now. It’s a stat that’s been floating around since at least 2016 and has been repeated in media reports and white papers. But it rarely changes—and no one’s been able to verify it. Considering how many platforms now operate in the space and the millions of app downloads some brands claim, that figure is suspiciously low. Without publicly available user data from either regulators or operators, most numbers come from auditing firms making educated guesses. The truth? We don’t know how many people are betting—or how much they’re really losing. the teen traP
Underage betting remains a problem. ID checks are either too easy to bypass or simply not enforced. A teenager can walk into a shop or use someone else’s phone and start playing with little resistance. Online platforms say they have KYC measures, but these systems rely on self-reporting in an industry without a central identity database shared by operators. It’s a loophole anyone with basic tech literacy can exploit. The law says 18 and above, but in reality, the gate is wide open.
From TV shows to football matches and even comedy skits, betting ads are everywhere and rarely carry any real warning. The messaging is clean, exciting, and often geared towards young people looking to ‘change their story.’ There’s no restriction on time slots or content categories. Viewers as young as 10 are regularly exposed to betting messages without context or caution. That’s a problem, especially in a country with low financial literacy.
one wallet, two addIctIons
Fintech apps now make it effortless to deposit and withdraw from betting platforms. On the surface, it’s just modern convenience. But it also turns gambling into an invisible expense. There are no prompts asking, ‘Are you sure?’ or warning signs when things spiral. You can spend hours chasing losses without ever leaving your wallet app. For many users, the lines between betting and banking have completely blurred.
BettIng as hustle culture
For a growing number of people, betting is no longer just fun—it’s a survival plan. With rising unemployment and inflation, staking on games is now seen as a legitimate hustle. That mindset changes everything. The emotional toll increases when people see betting as their main financial hope.
has gone from
it becomes harder to talk about the risks.
Some of Nigeria’s biggest pop culture moments now feature betting brands front and centre. Whether it’s music videos, influencer skits, or reality shows,
Female representation in the Nigerian sports betting industry—from regulators to operators to punters—remains conspicuously low. Nonetheless, this story has been changing at a noticeable rate recently, reflected in the rise of women leading gaming companies, shaping industry policies for growth and sustainability, and an increasing number of female punters emerging. In a recent chat with the Managing Partner of WYS Solicitors, Olafadeke Akeju, nseobong okon-ekong and Iyke Bede explored what it means to be a woman working in a male-dominated sector through the lens of the legal practitioner who has seen it all. Akeju’s entry into the gaming space came through her role as a legal adviser for the Lagos State Lotteries Board in 2008—a position she initially hesitated to take but was cajoled into by gaming industry veteran Lanre Gbajabiamila.
“Of course, I’m leaving an impact,” Akeju said with great conviction after relaying her journey, which now spans nearly twenty years, having worked on the regulatory side of the industry before setting up WYS Solicitors—a consultancy that has helped establish numerous gaming operators in the country. However, one may wonder how she, a female, was able to navigate the space to be where she is today despite the cultural and societal pressures that come with being a woman. Akeju’s story is different.
Gaining unwavering support from her father, whom she describes as a “sustainable influence,” was key to helping her understand the value of hard work and forge ahead in all spheres of life.
“In the beginning, it wasn’t exactly gender-based pressure. It was more like, oh, this young person sitting at the table with elders, so to speak,” Akeju reflected on her early years as a legal advisor at the Lagos State Lotteries Board.
“Speaking in a male-dominated room, being one of the youngest people… that was the pressure. It was like, ‘that’s not what we’re talking about, young lady.’ It wasn’t gender-based. If anything, I found more support. The moment they realised that this person knows what they’re talking about, there was more support. There was more, ‘She’s female. Let’s promote this person.’”
While Akeju understands her experiences are peculiar to her and are influenced by those around her, she isn’t dismissive of the unique struggles women face every day in the sector.
“I have had women reach out to me in this industry to say, ‘XYZ is insisting that if I don’t do this, then I don’t get this.’ And we have had to kind of manage the situation,” said the WYS Solicitors chief. “And all we’re doing is managing it, not addressing it. So the problem is still there, and it’s real.”
She noted that women aren’t allowed to be “fullywilled” in the sector despite having the extra obligation that comes with just existing as a woman—bringing the next generation into the world, nurturing them, and needing extra time to readjust to the system. Despite these challenges, Akeju pointed out that women are still expected to earn less.
“I remember when we wanted to start WYS. We didn’t start with an office. The plan was to start for a year, working perhaps from home but engaging with clients and listing what was required,” Akeju explained. “And they would be like, ‘Why do you
require this much? Why are we paying you this much? Your boyfriend, your husband, will take care of you.’
These are conversations we wouldn’t have if it wasn’t a male-dominated environment.”
She added, “I don’t think it’s peculiar to the gaming industry. I think it’s general. Men get paid more. I guess some people understand it because of the way things are structured, the male-female dynamic: A woman will take time off. A woman will work fewer hours, right? But does she get the work done? And then a woman needs to prove herself more than a man.”
With women being a minority not just in Nigeria’s sports betting industry but across Africa, various platforms are emerging to increase visibility and inclusion. These
initiatives, often through events and conferences, aim to support and celebrate women’s contributions to the sector. One such platform is Women in Gaming Africa, where Akeju is actively involved.
“Women in Nigerian Gaming is a new phenomenon. It’s about a year old. A year ago, to be precise, on International Women’s Day, Women in Gaming Africa came on board. It’s a large platform, multicultural, and it’s trying to build a track record, a name for itself in the industry,” Akeju notes. “It’s great to have a network, first of all.”
Aside from advocating for women’s inclusion, Akeju understands the role synergy plays in the gaming ecosystem, noting that working in a vacuum doesn’t
lead to a productive sector. So, she founded SLEC Africa in 2020, a platform welcoming all stakeholders in the gaming industry to access information, communication, and capacity building.
“I started a platform known as SLEC Africa—that is, Sports Lotteries, e-Gaming, and Casino in Africa—to provide capacity building because capacity building is expensive in the industry. It doesn’t exist locally,” Akeju pointed out. “You have to get a visa, get on a flight, book accommodation and go somewhere. If you’re buying it online, it would cost you a pretty penny in FX. So, we decided, you know what, can we localise it? Can we bring it here? And we started.”
“SLEC Africa is not for women alone,” she clarified. “It’s a training platform. But because we started going in-house for training, we started meeting more women. The Women in Nigeria Gaming actually came up after our session at the Africa Gaming Expo AGE Lagos. When women came, they were like, ‘There is a need to talk about issues. There are issues where we feel alone.’”
Despite persistent challenges, Akeju’s journey highlights women’s growing role in Nigeria’s gaming industry. Platforms like Women in Gaming Africa, SLEC Africa and Women in Nigeria Gaming are driving inclusion, providing support, and fostering leadership. While the shift
Emmanuel Addeh in Abuja
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, yesterday maintained that the federal government will continue to support more oil sector divestments, facilitate easy exit for International Oil Companies (IOCs) when necessary, as well as accelerate repatriation of funds to their home countries.
Speaking in Abuja when the new management of Renaissance Africa Energy Company (formerly Shell), led by its Chief Executive, Tony Attah, paid him a visit, the minister explained that the Bola Tinubu administration believes that divestment is a global practice.
The minister stressed that as Nigeria continues to solicit for more foreign
investments, the clear message is that businesses can invest and also divest at will, noting that Nigeria cannot be an exception to what takes place seamlessly in other climes.
He stated that it was the reason he facilitated the completion of all pending divestment applications when he was appointed to head the ministry of petroleum, in direct compliance with the president’s directive.
“So, when I became minister, we had several divestment issues. Some of them had been there for years. And my position was very clear. I said, divestment is a global practice. If you want to attract investments, you must also allow people to divest when they want to.
“I’m proud to say that under the
Oluyede, has charged troops of the Nigerian Army to make necessary sacrifices to maintain peace and security in the nation.
President Bola Tinubu, yesterday, issued fresh directives to security and intelligence chiefs, aimed at intensifying efforts to restore peace and stability in parts of the country battling with violent attacks.
National Security Adviser (NSA), Mallam Nuhu Ribadu, who made this known to newsmen after an emergency security and intelligence meeting held at the President’s official residence at the State House, Abuja, said the president told the security top guns enough of the killings.
This was as the Chief of Army Staff (COAS), Lieutenant General Olufemi
But the Benue State Governor, Hyacinth Alia, has raised the alarm over orchestrated attacks and killings in the state by militias and as such, called on the federal government to quickly intervene to save lives and property in the state. However, in what can explain the basis for some of the attacks, the Fulani in Plateau State, have accused indigenes living in Jouckchal community of Mangu Local Government Area of rustling over 300 of its cattle Tuesday evening, adding that 36 other cattle died of poisoning by the same people.
Chuks Okocha, Olawale Ajimotokan, Adedayo Akinwale in Abuja, Yinka Kolawole in Osogbo, Omon-Julius Onabu in Asaba, Segun James in Lagos and Sylvester Idowu in Warri
In a move that might have altered existing permutations, dismantled political structures, refocused the battle for 2027 and dealt a death blow on the Peoples Democratic Party (PDP), former Delta State governor and 2023 presidential candidate of the party, Ifeanyi Okowa; the incumbent Governor of Delta State, Sheriff Oborevwori, along with the entire local governments’ chairmen in the state and party apparatchik, yesterday, quit the PDP en bloc with all of their structures and joined the ruling All Progressives Congress (APC).
Expectedly, this move is to further consolidate the chances of President Bola Tinubu in the 2027 presidential run, when he would be seeking a re-election.
Apart from the Delta PDP forces, more states in the South-south are still being expected to join the APC as the intending defectors were said to have been handed a deadline of on or before May 29 to join the ruling party.
While Akwa Ibom and Rivers State have been touted as two of the likely states to follow suit, the Akwa Ibom State Government, has denied speculations that Governor Umo Eno, was also planning to defect to the APC.
Interestingly, the unfurling developments are pointing to a possible south versus north scenario in the 2027 elections, just as the current calculus are also suggesting that the PDP might be forced to consider a northern candidate with the core of its southern base now being eroded.
Nevertheless, the National Working Committee (NWC) of the APC and the Minister of the FCT, Nyesom Wike, have welcomed the decision by Oborevwori and Okowa to join the party, saying the state being an APC state would contribute maximally to the Renewed Hope Agenda.
However, shocked at the development, a former Deputy National Chairman of the PDP, Chief Olabode George, has asked former Vice-President Atiku Abubakar and the FCT Minister, Nyesom Wike, to
leave party because of their alleged anti-party activities.
In a related development, a sixth-term House of Representatives Member, Oluwole Oke Representing Obokun/Oriade Federal Constituency in Osun State, has also resigned from the PDP, after reportedly consulting with his political associates, friends, and family members.
Announcing the Delta PDP decision to join APC, a former PDP gubernatorial aspirant Senator James Manager, said the decision to resign en masse from the PDP climaxed widespread and prolonged consultation with all stakeholders in the state, referring to the PDP as an irretrievably sinking boat.
Manager lamented that a presidential candidate of the PDP, as presently constituted, did not stand a chance against the incumbent President Bola Tinubu, under the APC, in 2027.
Announcing the defection after a meeting with leaders and stakeholders of the PDP in the state, at Government House, yesterday, in Asaba, Manager, who is the pioneer Delta State chairman of the PDP in the state, said the decision was taken following due consultation with various stakeholders across the state.
Manager was flanked during the briefing by the Commissioner for Works (Rural and Riverine Roads) and Public Information, Mr Charles Aniagwu, Chief Press Secretary to the Delta State Governor, Sir Festus Ahon, and Executive Assistant to the Governor on Public Enlightenment, Projects and Policies, Sir Olisa Ifeajika.
“You have just been told about some of the things that have been happening in the PDP Delta State. Some consultations have been going on and the climax of these consultations is what you are seeing today.
“We have discussed and have disagreed to agree, and it is a unanimous agreement. I am the pioneer state chairman of the PDP, but you cannot be in a boat that is already capsizing because I am a riverine man.
“Looking at issues the way they are, we have come to the inevitable conclusion to do something else. It is a collective decision for so many reasons.
“A few days ago, there was a resolution taken by the PDP Gov-
leadership of President Bola Tinubu, these divestments that were (pending) were basically one of the obstacles to the flow of investment. We consented to them and the president personally signed those divestments. That is the evidence of leadership. Leadership is not just by mouth, it’s by action,” Lokpobiri pointed out.
As minister who is directly overseeing the petroleum sector, Lokpobiri stated that Tinubu directed his office to ensure that all the divestments were accelerated, noting that today, the situation that prevailed hitherto, no longer exist.
“And today, if people want to invest, that question is no more there whether Nigeria is an investment destination where you can come and invest and
Nevertheless, the Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, has paid a condolence visit to Billiri Local Government Area to commiserate with the people and families of victims who lost their lives in a tragic accident during an Easter procession.
At the same time, the Niger State Government has explained that it restricted the movement of commercial motorcycles and tricycles in Minna, the state capital to restore peace.
President Tinubu had met with the National Security Adviser (NSA), Mallam Nuhu Ribadu, and the Chief of Defence Staff (CDS), General Christopher Musa, at the State House, Abuja. The meeting, which took place at
ernors’ forum at Ibadan. Almost all the governors were there and they resolved that they are not going into coalition with any other party.
“But as disadvantaged as the PDP is now with about 11 governors, how do you go into a contest with an incumbent president? You think you can win? That particular resolution killed the spirit of so many PDP members.
“We lost election in 2015 as a result of a merger which even included splinter groups from the PDP. There are also other reasons.
“Today, Senator Anyanwu is the National Secretary of the party, tomorrow it’s another person. The party must be positioned to go into an election to win. So you see that it is becoming very funny. The PDP is truly in trouble.
“If you look well, the current PDP state chairman was in the meeting,
beginning to yield results, citing gains in macroeconomic stability, investor confidence, and improvements in Nigeria’s global credit ratings.
Equally, the International Monetary Fund (IMF) advised Nigeria to consolidate its recent reforms by prioritising efficiency in public spending and committing to prudent fiscal policies.
Also yesterday, the World Bank Group announced the appointment of the President of the Dangote Group, Alhaji Aliko Dangote, into its Private Sector Investment Lab (PSIL), as the multilateral institution transitions into a new phase focused on implementing large-scale, job-generating investments in emerging markets.
Edun and Cordoso made the remarks during the Nigeria Investment Forum, which had in attendance foreign investors and some global investment bankers from JP Morgan, Citibank, Standard Chartered Bank, Chapel Hill Denham, Kirkoswald Capital, among others, held on the sidelines of the ongoing World Bank/ IMF Spring Meetings in Washington D.C.
Responding to a question on the oil sector, Edun said: “There is an NNPC audit underway so that we can really understand what has happened in the past. As for now, some reconciliation exercises are going on, because the
also divest. But it was a major issue in 2023 when I went with the president to New York.
“And that’s when the transaction was stalled. The president gave me a very clear directive. I had to go back and to make sure that this matter was sorted. Today, the matter is sorted, so that question is no more,” the minister said.
He also gave a vote of confidence to the capacity of the human resource within Nigeria’s oil sector to perform and exceed expectations, arguing that all the IOCs, including Shell, ExxonMobil, Agip and others, were built by Nigerians.
According to him, the question of whether the oil industry will survive, given the recent divestments does not
the official residence of the president came at a time the security situation in some parts of the country had worsened.
The high-level meeting was attended by the Chief of Defence Staff (CDS), General Christopher Musa; Director-General of the National Intelligence Agency (NIA), Mohammed Mohammed; Chief of Defence Intelligence, Major General Emmanuel Undianeye; Director-General of the Department of State Services (DSS), Mr. Oluwatosin Ajayi; and Chief of Staff to the President, Hon. Femi Gbajabiamila.
President Tinubu, who returned from a 19-day working visit to France and United Kingdom on Monday evening, had received updates from
the governor was there, the Deputy governor, the immediate past governor, the speaker. All of these persons were in the meeting. National Assembly members and even the House of Assembly members. The who is who in Delta State was in the meeting to make this decision,” he said.
Aniagwu, who also spoke, said the decision became necessary following the unfortunate happenings at the national level of the party.
“For some time now the media, particularly the social media have been awash as to what political decisions that we are going to be taking in Delta.
“While that was on, the governor and the leaders of the party have been very busy carrying out some necessary consultations and it is also part of that consultation that has resulted in this meeting today for the leaders
truth is, as we all know, the removal of the fuel subsidy was announced on May 29, 2023, but it took time to achieve it, and in the meantime, part of that burden shifted from the government’s budget to NNPCL.
“So, there’s a reconciliation underway. And the most important thing is that the NNPC needs to come to the table with more oil production, more revenue, dollar revenue, and indeed, more revenue to the Federation. That’s the task and mandate have been given. And I think we I think they will deliver.”
Speaking further, the Finance Minister listed the raft of targeted reforms under the current administration to include fuel subsidy removal, foreign exchange liberalisation, reset of monetary policy, elimination of Ways and Means, among others.
Edun explained: “First, regarding the global uncertainty and market shocks, Nigeria hasn’t suffered from the same reciprocal-type regime pressures as other economies because ours has been paused. As the Central Bank Governor noted, we’re in a better position today due to the reforms and progress we’ve undertaken.”
“In Nigeria, I believe we can attract private sector investment. The progress we’ve made so far is significant, and our near-term priorities
exist, expressing the hope that indeed local companies that are taking over will actually do much better.
“ My conviction is that Nigerians will benefit more. Decisions will no longer be taken abroad. If anything happens to any pipeline, they have to wait for the headquarters to make the decision. Right now, once anything happens, the decisions will be taken in Lagos, or in Abuja. So you don’t need to wait for anybody to make those decisions for things to be fixed,” he stated.
Besides, the minister maintained that monies will be retained in-country, with the takeover of indigenous firms, since there will be no need to repatriate revenues or dividends and urged Nigerian oil and gas companies to
his security and intelligence chiefs over the situation of things in areas and states that have experienced unrelenting violence and bloodshed in recent times.
The security situation in Plateau and Benue States, where murderous gunmen, suspected to be invading foreign herders, had escalated to a point where hundreds of lives hadbeen wasted and thousands more displaced from their homes.
There had also been reports of other forms of criminal activities in other parts of the country, all of which hadraised anxiety both at home and within the international community.
Briefing news men, the NSA said: “It was a very detailed and exhaustive briefing session with Mr. President. He has been closely monitoring developments, even while away, and today we had the opportunity to fully update him.
“He listened attentively and gave new directives. He is deeply committed to achieving peace and security across the country. He (President Tinubu) insisted that enough is enough. He wants to see results.
“All the security arms – military, police, intelligence services– are fully deployed and working round the clock. We believe we’re on the right track, and though not everything is fully resolved, significant improvements have been made.”
According to Ribadu, President Tinubu directed the security agencies to step up coordination with local authorities in areas currently experiencing insecurity, particularly Plateau, Benue, and Borno States.
He emphasised that the fight against insecurity must involve collaboration with subnational actors.
“Insecurity is not just a federal government issue. It involves sub-
are taking shape amid widespread macroeconomic uncertainty around the globe.
“Under the leadership of the President, we have successfully implemented reforms that are quite unprecedented. These are reforms we’ve spoken about for years; reforms we promised we would complete, and this time, we stayed the course. Now we can confidently say that we have implemented difficult but necessary reforms.”
According to him, the fuel subsidy was a major reform, which he stressed was about five percent of the country’s Gross Domestic Product (GDP).
“This, combined with the reforms on the monetary side, such as putting in place efficient market systems and enabling price discovery, not just in foreign exchange, but also in petroleum products, has created the foundation for renewed industrialisation in Nigeria.
“We are targeting seven per cent annual growth, and this is a commitment President Tinubu is serious about. We believe that level of growth is essential to lift millions of Nigerians out of poverty.”
He added: “We are pushing for inclusive growth. With macroeconomic stability largely restored, we are expanding our focus on agriculture,
take the lead and truly play their role as leaders in Africa.
“In oil and gas, no country in Africa can be compared to Nigeria in terms of human capacity building. There’s no country where you have the same level of manpower as we have in the oil and gas sector in Nigeria. And there are lots of opportunities.
units, state and local governments, because they are closest to the people. Mr. President has instructed us to work more closely with governors, traditional rulers, and community leaders, especially where issues are rooted in local conflicts,” the NSA noted.
Ribadu stated that security and intelligence chiefs had recently conducted visits to the troubled regions on the president’s orders, meeting with political and community stakeholders to assess the situation firsthand and implement appropriate interventions. While acknowledging persistent challenges, particularly in the NorthEast where remnants of terrorist groups remained active, Ribadu stressed that the nature of insecurity was evolving and that efforts must remain adaptive. His words: “Borno State has recently seen a spike in incidents, particularly due to IEDs planted by insurgents. These are evil actors, who strike opportunistically when things appear calm.
“But we have men and women who are working tirelessly, sacrificing sleep, family, and comfort to keep the country safe. Their efforts must be acknowledged.”
The NSA urged Nigerians to consider the progress made in security over the past year, stating that while every life lost was deeply mourned, the overall trajectory remained positive. His words: “Security is relative. You compare what was happening before and what is happening now. We are not where we want to be yet, but we are moving forward. We will not relent until we achieve lastingRibadupeace.”reaffirmed the commitment of all security agencies to carry out
infrastructure, especially digital and finance. This includes crowding in the private sector at a time of constrained fiscal space. By addressing agriculture, infrastructure, and financial access, we believe Nigeria is now firmly on the path towards a seven per cent annual GDP growth exactly where we need to be.”
Cardoso: Orthodox Monetary Policy Has Stabilised Nigerian Economy.
Meanwhile, Cardoso, asserted that the apex bank’s return to orthodox monetary policy was beginning to yield tangible results, citing gains in macroeconomic stability, investor confidence, and improvements in Nigeria’s global credit ratings. He said: “The numbers speak for themselves. The difficult reforms we’ve undertaken are beginning to yield results. One of the most important decisions we made was to pursue orthodox monetary policy, an approach we were firmly committed to and have no intention of compromising on.
“As a result of this policy stance, we’ve been able to stabilise macroeconomic indicators. Today, we’re in a much better position than we were previously.”
L-R: Special Adviser to the Governor on Health, Mrs. Kemi Ogunyemi; Commissioner for Health, Prof. Akin Abayomi; his counterpart for Information & Strategy, Mr. Gbenga Omotoso and Special Adviser to the Governor on Media & Publicity, Mr. Gbenga Akosile, during the Lagos State government annual ministerial press briefing at the
Air Peace suspends flight operations nationwide Flights disrupted at Kano airport NiMet: we are disappointed
A industrial action by aviation labour unions over the failure of Nigerian Meteorological Agency (NiMet) management to acquiesce to the demands of its workers impacted flight operations yesterday.
THISDAY investigations revealed that domestic airlines operated their flights but some travellers experienced delays to some destinations.
The Nigeria Civil Aviation Authority (NCAA), which monitored the strike action,, directed airlines not to operate some destinations for safety
reasons.
One of the major airlines told THISDAY on conditions of anonymity that it operated flights from Lagos to Abuja, Owerri and Akure, but flights to Gombe, Port Harcourt and Benin were cancelled. The airline said it would operate the rest of its flights but might experience delays.
Nigeria’s major carrier, Air Peace, announced suspension of its flight operations due to the strike action embarked by NiMET workers.
The airline, in a statement, said the decision was necessary because NIMET was the agency responsible for issuing CNH (Current Nowcast of
Hazardous Weather), which is critical for safe flight operation.
The statement said, “We regret to inform you that due to the ongoing strike by the Nigerian Meteorological Agency, Air Peace is suspending all flight operations nationwide with immediate effect.
“This decision is necessary because NIMET is the agency responsible for issuing CNH (Current Nowcast of Hazardous Weather) reports, which are critical for safe landings, especially during this season of heavy rainfall and thunderstorms. Without these reports from the control tower, flight safety cannot be guaranteed.
“As a safety-first airline, we have chosen to act responsibly by suspending operations until NIMET resumes full service. We understand this may cause inconvenience, and we sincerely apologize. Passengers will be contacted with updates and options for rescheduling.”
Meanwhile, the protest by NiMet employees at Mallam Aminu Kano International Airport disrupted flights, causing significant inconvenience to hundreds of passengers.
The staff members, who staged a peaceful protest at the NiMet office on Wednesday, demanded implementation of the new minimum
wage, payment of outstanding allowances, and improved training programs, among other issues.
The airport came to a standstill in the early hours due to the protest, leaving many passengers with no any other choice than to seek alternative travel arrangements, including road trips to their intended destinations.
NiMet had invited the three major aviation sector unions, National Union of Air Transport Employees (NUATE), Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees (AUPCTRE), and the Association of Nigeria Aviation Professionals (ANAP)
PenCom: Pension assets stand at N22.51tn as sector pays N3tn benefits, maintains tremendous growth NLC says transitional arrangement for retiring workers lacking
The federal government has said it is committed to safeguarding the dignity and well-being of retired Nigerian workers.
It said that while a number of policy reforms have been implemented to address challenges affecting workers during retirement, the present administration is pursuing other initiatives meant to improve life of pensioners.
In another related development, the National Pension Commission (PenCom), has revealed that the pension sector has continued to maintain tremendous growth as total assets under management now hit all time high of N22.51 trillion as at December 2024 just as the sector has paid a total of N3trillion as benefits to Nigerians since inception.
The commission said the total assets figure shows significant growth compared to N18.36 trillion total assets under management which the sector gathered in last quarter 2023.
The commission however said micro pension contributions declined by 16 percent during the period, despite all efforts by both the regulator and the operators to grow this all-important segment of the pension market.
The federal government’s pledge to pensioners came just as the Nigeria Labour Congress (NLC) lamented sufferings many retirees go through due unplanned retirement and lack
of social safety net to enable them adjust to a new phase of life.
Speaking while declaring open the 2025 National Pre-retirement Summit in Abuja on Wednesday, the Secretary to Government of the Federation, Senator George Akume, said that government is determined to make the life of pensioners more comfortable.
Akume, represented by the Permanent Secretary in his office, Nnamdi Mbaeri, said that retirement should not signify an end but rather a transition into a phase, rich with possibilities.
He lamented that a retirement which was once viewed as a time of rest and reflection, “has now become a period marked by uncertainty, vulnerability and at times, distress for many in Nigeria and across the ECOWAS region.”
He said: “Many retirees face challenges such as financial instability, health concerns and a lack of direction post-retirement.
“The federal government remains deeply committed to initiatives that safeguard the dignity and well-being of our senior citizens. Through policy frameworks, institutional partnerships, targeted interventions, we will continue to support efforts that ensure every Nigerian retires with confidence, dignity and opportunity.”
The SGF urged workers and participants to use the opportunity offered by the summit to collaborate, learn and pave the way for a future
where retirement is not feared but embraced with enthusiasm.
On his part, the President of the Nigeria Labour Congress (NLC) Joe Ajaero lamented the absence of a proper transitional arrangement for retiring workers.
He said that retirement for a Nigerian worker has continued to pose a nightmare because of sufferings and uncertainties associated with it.
Ajaero who said that Nigeria has been tinkering with the issue of new reform and old pension scheme but none of them has brought needed relief to the workers.
Apart from the absence of a proper transitional arrangement for retiring workers, Ajaero said the country does have any social security initiative or
safety net targeted at retirees and the senior citizens.
He said: “Once you mention retirement, people think they will be retired to the dustbin of history. The way we retire in this country without a transitional arrangement makes it worse, next one month after retirement, things begin to get bad for the worker”.
The NLC president suggested the setting aside of one year for a transitional programme leading to the eventual retirement of a worker to enable him prepare adequately for the final exit from active service.
Ajaero said that organised labour is also pushing for a policy review to grant retirees access to at least 50 percent of their contributory pension
a year or two before proceeding on retirement for them to make investments.
Earlier, the convener of the Summit and the Chief Executive Officer of Xem Consultants Limited, Eugenia Ndukwe, said the aim was to empower would-be retirees, “with the knowledge to effectively manage his finances, embrace entrepreneurial ventures and to reimagine retirement not as an end but as a vibrant new beginning”.
She said the group was motivated to embark on the sensitization initiative due the fact that most people approaching retirement are not adequately prepared.
“This summit was born out of sincere commitment to change that narrative,” she said.
to another round of discussions to clarify lingering concerns and to prevent the breakdown of industrial harmony.
NiMET had issued a formal response to a joint letter by the unions to prevent the planned resumption of industrial action.
In a letter dated April 10, 2025, the unions had accused NiMet’s management of failing to implement critical components of the January 28, 2025 agreement.
The strike, which officially began at 7am, with NiMet staff and union members walking around the airport premises holding placards, came as a result of the lingering issues bordering on welfare between the unions and the agency.
A senior NiMet management source speaking on condition of anonymity said:, “Management is disappointed with the hard-line taken by the unions when some of the issues in dispute have been resolved, and others are in various stages of resolution.
“In a response given by management when the unions served it a strike notice, management stated all the issues and their status.
“It is surprising that the unions resorted to strike action because the unions themselves recently wrote and thanked management for its labour friendly policies. Makes you wonder if there are other motives or there are people bent on sabotaging management.
“Management is not relenting in reaching an amicable resolution with the unions so that normal services will be restored.
“The Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, who has been supportive has scheduled a meeting with all the parties on Thursday, 24th of April, 2025.
As part of its outreach to improving public health through education, the National Orientation Agency has urged Nigerians to live healthier lifestyles as a way of protecting their liver.
The call was made on the agency’s social media handles as part of the celebration of the World Liver Day.
In a detailed advisory shared by the agency, it advised Nigerians against lifestyle choices that may jeopardize the health of their liver.
This, said the agency, include exces-
sive alcohol consumption, sedentary lifestyle and use of medications not prescribed by qualified medical personnel.
It urged Nigerians to engage in physical activities, consumption of diets rich in fruits and vegetables, regular hydration through generous water consumption of water and undergoing regular medical examination to be sure of their liver is function status.
The agency noted the liver’s important role in aiding digestion,
detoxification and overall well-being of the human body.
“The liver filters toxins, supports digestion and plays a crucial role in maintaining overall health,” the agency stated. Over the last two years, the NOA has undertaken a series of health-focused initiatives, using education, community engagement and strategic partnership.
Through its Community Orientation and Mobilisation Officers (COMOs), it has carried out health advocacy through engagement with
various groups, including traders, transport workers, farmers, women, youths, civil society and faith-inclined organisations. These have been backed by integrated infectious diseases prevention campaigns targeting Lassa fever, cholera, and cerebrospinal meningitis (CSM). These campaigns have been backed by partnership with the Federal Ministry of Health and the Nigeria Centre for Disease Control (NCDC) to disseminate accurate information and resources.
L–R: Supply Chain Director, Nigerian Breweries Plc, Mr. Federico
Corporate Affairs Director,
16,000 doctors have left
Segun James Lagos State Government said it needed at least 33,000 medical doctors to meet the shortfall created by the huge flight of medical personnel abroad.
To try to stem the tide the government had put necessary measures in place to address the shortfall. But it said over 16,000 doctors had left the country for greener pastures abroad. The Commissioner for Health Services, Prof. Akin Abayomi, disclosed this during a press briefing to commemorate the second year of Governor Babajide Sanwo-Olu’s second term in office at Alausa, Ikeja.
Abayomi said according to World Health Organisation (WHO) standard, doctor to patient ratio worldwide was 1:200.
He, however, stated that with over 20 million population, Lagos currently had 7,000 doctors, saying, “We have a shortage of 33,000 doctors.”
He added that Nigeria as a whole had a shortage of 300,000 doctors, saying not less than 16,000 doctors have left the country in recent years. Despite these challenges, the commissioner stated that as a sub-national, Lagos was putting
healthcare initiatives in place to tackle the gap.
With over 18,000 staff across primary, secondary and tertiary healthcare facilities, Abayomi stated, “We are poised to tackle the challenges of healthcare in the state.”
He said, “We are planning strategically to address brain drain and increase brain gain. We have improved flow of funds into health sector.”
Abayomi added, “We have turned the corner; we have been able to see reduction. We have seen diasporans coming to Lagos either permanently or coming and going. A lot of them are keying into our healthcare initiative. They have seen Lagos as the next frontier in meeting our target.”
The commissioner stated that going by the statistics given by the federal government, not less than 16,000 doctors left the shores of Nigeria in search of the greener pastures.
He stressed that the state government was building climate resilient facilities, by taking into consideration the state’s unique topography. “Many parts of Lagos are densely populated so the facilities are heavily built with concrete and others are built
on sandfill. So, when we build, we take all this into consideration.”
The commissioner also hinted that the largest cancer centre in West Africa was located in Alausa, saying it is a comprehensive and special
health facility to take care of the cancer patients.
In addition, the state government, according to the commissioner, will in the next 12 months inaugurate three massive secondary hospitals
at Ojo, Lagos Island and Ketu-Ejirin. Speaking on malaria disease, he advised Lagosians to always go for test whenever they had symptoms of fever, saying it is not every fever that is diagnosed as malaria.
He said, “In the next one or two years, we can say in Lagos that we have eliminated malaria. 99 cases of fever are not malaria, so people should carry out test and get doctor’s prescription before buying drugs.”
Michael Olugbode in Abuja
Council of Ministers of the Economic Community of West African States (ECOWAS) has convened an Extraordinary Session in Accra to deliberate on contingency plans, including relocation of regional institutions, following the formal notification of withdrawal by Burkina Faso, Mali, and Niger from the bloc.
The Extraordinary Session followed a directive from the Authority of Heads of State and Government during its 66th Ordinary Session, mandating the
Council to adopt modalities and a contingency plan for the disengagement of the three Sahelian nations.
The ECOWAS Commission is expected to present memoranda addressing the withdrawal process, suspension of programmes in the affected countries, and challenges related to the free movement of people, goods, and services.
Additionally, the Council will examine the potential relocation of ECOWAS institutions and agencies currently based in Burkina Faso, Mali, and Niger, with an eye toward mitigating any disruptions caused by their exit.
the critical session.
He also congratulated Ghana and the ECOWAS Commission on the successful launch of the “ECOWAS at 50” celebrations, describing the commemorative activities as a timely reflection of the bloc’s achievements and aspirations.
He said: “This gathering demonstrates our unwavering commitment to the advancement of our regional community and the fulfillment of ECOWAS’s core purpose.
The Chair acknowledged that the session marked a difficult moment in ECOWAS’s history.
ation, Tuggar urged ministers to view the crisis as an opportunity for institutional renewal and a recommitment to regional integration. He emphasised that ECOWAS remains the most integrated regional bloc in Africa, underpinned by harmonised policies and a shared vision for political, economic, and security cooperation.
Ajimotokan
Minister of Information and National Orientation, Mohammed Idris, has called for robust collaboration between federal government and sub-nationals in advancing the nation’s developmental agenda.
He echoed this yesterday when the inaugural commercial flight from the Bola Ahmed Tinubu International Airport, Minna, landed at the Nnamdi Azikiwe International Airport Abuja.
The minister noted that sustainable national progress can only be achieved when all tiers of government work in tandem by coordinating efforts to deliver impactful governance to the Nigerian people.
“One of the key issues that we need to talk about is the kind of collaboration that Mr. President is always talking about between the Federal Government and the sub-nationals. This is one great example that Niger State has shown that the states can indeed
come together with the Federal Government to collaborate in order to bring prosperity to Nigerians,” Idris said.
The first set of passengers, including the Niger State Governor, Mr. Umaru Bago, Idris, former Niger State Governor, Dr. Babangida Aliyu, the Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi and other top government officials were aboard the inaugural commercial flight, Overland Air marked 5N-CCN, which landed at the Nnamdi Azikiwe International Airport at 1:32pm.
The minister applauded the president for providing the enabling environment that facilitated the successful commencement of operations at the Bola Ahmed Tinubu International Airport in Minna and for his unwavering commitment to infrastructural development and improved connectivity across the country.
He also commended Governor Bago, for his visionary leadership
in opening up the Niger State for agricultural development, commercial activities, industrial growth, and overall economic prosperity.
“We have to appreciate our president like our governor has said. This is indeed a dream come true. The governor has indeed made this happen. He is so passionate about opening up Niger State for agriculture, commerce, industry and prosperity,” he said.
Earlier, Bago said the inaugural flight was aimed at opening Niger State to the world.
“The management of Overland has been very gracious to give us this brand-new aircraft from Lagos to Minna and now from Minna to Abuja and this will happen three times a week; Mondays, Wednesdays and Fridays. This is route opening flight - opening Niger State to the skies of the world.
“We want to thank President Bola Ahmed Tinubu, who the airport is named after for giving us all the enablements,” he said.
In his opening address, the Chair of the Council, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, extended the appreciation of member states to the government and people of Ghana for their warm hospitality and for hosting
“It was never our wish to deliberate on the withdrawal of member states. But in recognising the sovereignty of these nations under their current military governments, we must now adapt and chart a forward-looking path,” he said.
Despite the gravity of the situ-
“As we look ahead, our responsibility is to maintain the ECOWAS legacy and pass it on stronger to the next generation. Our unity has been tested before—and we emerged stronger. We will do so again,” he declared.
The Chair called on his colleagues to engage in constructive deliberations and to ensure the effective implementation of the withdrawal, reaffirming that ECOWAS remains the premier platform for addressing West Africa’s collective challenges.
Hammed Shittu in Ilorin
Former presidential candidate, Hon. Gbenga Olawepo-Hashim, has raised alarm over Nigeria’s diminishing gains from its oil and gas sector, warning that fossil fuels will be globally irrelevant within the next two decades.
Speaking in a promotional clip from The Bridge Podcast and monitored by THISDAY in Ilorin, Kwara State capital yesterday ahead of the release of the show’s sixth episode, Olawepo-Hashim urged the Nigerian government to take swift, strategic action to extract maximum value from its petroleum resources before global energy markets
shift irreversibly, asserting that “Oil and gas will be irrelevant in 20 years”. Olawepo- Hashim added: “We must maximize the benefit of our resources now, while they still matter in the global market.”
He decried Nigeria’s lack of meaningful investment in the sector over the last two decades, pointing out that more than half of the nation’s current oil output still depends on infrastructure developed during the military era of General Ibrahim Babangida.
“Over 50% of our oil production is from investments made under the Babangida regime. What have our democratic leaders done in the last
20 years?” he asked. He attributed Nigeria’s underperformance in the sector to inefficiency, corruption, and poor management, arguing that the country has failed to convert its natural wealth into meaningful economic gains.
“It’s not just about having resources; it’s about how you manage them. And we’ve failed in that regard,” he added.
Olawepo-Hashim concluded by calling for urgent reforms in energy governance and a bold commitment to economic diversification, cautioning that Nigeria risks being left behind if it fails to adapt to the rapidly changing global energy landscape.
L-R: Company Secretary, Greenwich Merchant Bank, Yewande Amodede;
Craneburg
Michael Olugbode in Abuja Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Rtd), has expressed worry over substance abuse, saying one in seven Nigerians between the ages of 15 and 64 now use drugs.
Echoing the position of the Minister of Finance and Coordinating Minister of the Economy on Nigeria’s buffers against global volatility, Cardoso noted that while the country was not immune to global financial shocks, its exposure has been comparatively moderate.
“Recently, when global markets experienced significant disruptions, we also felt the tremors. However, the relative impact on Nigeria was less severe. That speaks to the foundational work we’ve been doing behind the scenes,” he said.
Cardoso stressed that rebuilding trust and confidence was central to the CBN’s agenda.
“There’s a common thread running through all our actions - building confidence. We’re not claiming perfection, but we are making real progress. Confidence in the naira is strengthening and confidence in our policy direction is growing. And, perhaps most importantly, there is a renewed sense of hope in the country’s economic future.”
According to him, the bank’s disciplined policy implementation has not only brought a measure of stability to the economy, but also enhanced Nigeria’s image on the international stage.
“Our efforts have not gone unnoticed,” he added.
“Nigeria’s credit ratings have improved, which signals that our reforms are working. But we remain realistic, we’re still navigating a highly uncertain global environment. Anyone who followed the recent World Bank and IMF meetings would know that economic uncertainty is a global theme, and Nigeria is not exempt.”
Reflecting on the journey so far, Cardoso acknowledged the challenging environment over the past 18 months, noting that the response from the CBN has been deliberate and reform-driven.
“We have been operating in crisis mode for over a year and a half. Our approach has been to roll up our sleeves and do the necessary hard work— not just to improve the figures, but to enhance institutional capacity and resilience. We are now focused on strengthening the structures that will ensure long-term stability.”
Cardoso concluded on an optimistic
Marwa, however, explained that the push for drug integrity test for youth corps members, prospective couples and others was not punitive but to discourage substance abuse. According to him, it would also provide early treatment for those who test positive before their condition degenerates to drug dependence and
note, saying investor sentiment was gradually shifting in Nigeria’s favour.
“From where I sit, I’m seeing growing interest in investing in Nigeria. If we remain committed to this path, the economic transformation we all seek is not just possible—it is inevitable,” he stressed.
Also speaking at the event Director General Debt management Office, Patience Oniha, noted that Nigeria was in talks with JP Morgan for the West African country to be admitted back into the JPMorgan Emerging Market Bond Index.
“Regarding the JP Morgan Index, investors want us back in. With the reforms implemented, the foreign exchange market has improved, and we’re eligible again. We’ve resumed active engagement with JP Morgan to re-enter the index,” she explained. Nicholas Bradford of Kirkoswald Capital, commended the apex bank on its data release, saying, “I think investors find the Central Bank of Nigeria’s gross reserves data incredibly timely. There are very few central banks in the world that give daily data with a two- day lag. It’s fantastic on the monetary side.”
Dangote Joins World Bank’s Investment Lab to Advance Job Creation Across Emerging Markets
In the meantime, Dangote has been appointed to the World Bank Group’s Private Sector Investment Lab (PSIL) as the Bank transitions into a new phase focused on implementing large-scale, job-generating investments in emerging markets.
The PSIL had identified five strategic pillars, regulatory and policy certainty, political risk guarantees, foreign exchange risk mitigation, early-stage equity capital, and securitisation — as levers to de-risk private capital and accelerate investment deployment.
As part of its expanded membership, the Lab now includes influential leaders such as Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President & CEO of Hyatt Hotels Corporation—alongside Dangote, whose business footprint spans infrastructure, manufacturing,
other health challenges.
Marwa made the clarification during a meeting with the Director General of the National Youth Service Corps, Brig. Gen. Olakunle Nafiu, who led top officials of NYSC on a courtesy visit to the NDLEA headquarters in Abuja yesterday. While congratulating the NYSC
and agribusiness across Africa.
With a deep understanding of the structural challenges that constrain private sector growth on the continent, Dangote and other members appointed are expected to contribute practical insights and regional expertise that support the Lab’s mission to translate investment into broad-based employment and sustainable development.
Commenting on the new phase of the Lab’s work, World Bank Group President Ajay Banga said, “We are grateful to the original Lab leaders who helped us deliver strong results in the initial phase. Now we are building on that foundation, bringing in leaders from sectors critical to job creation and moving from ideas to implementation.”
The IMF advised Nigeria to consolidate its recent hard-won reforms by prioritising efficiency in public spending and committing to prudent fiscal policies.
The Fund stressed the importance of building fiscal buffers to shield the country against future shocks, even as it projected a gradual decline in Nigeria’s debt-to-GDP ratio over the next five years. The IMF stated this during it’s Fiscal Monitor Press Conference at the ongoing 2025 Spring Meetings in Washington DC.
Also, according to the newly released Fiscal Monitor report, Nigeria’s public debt burden, while still elevated, was projected to follow a downward trajectory.
After rising to 52.9 percent of GDP in 2024, the IMF forecasts that it will fall slightly to 52.5 percent in 2025, and then decline steadily to 45.4 percent by 2030. The Fund attributed this improvement to anticipated stronger economic growth and enhanced revenue mobilisation efforts.
However, the fiscal deficit, which narrowed from -4.2 percent in 2023 to -3.4 percent in 2024, was projected to widen again to -4.5 percent in both 2025 and 2026, -3.9 in 2027, -4.3 in 2028, before settling at -3.6 in 2029 and 2030.
Underscoring the need for better
boss on his recent appointment, Marwa described the NYSC scheme as a national treasure and a veritable instrument of national unity.
“The drug scourge has continued to devastate our kids, families, communities, everywhere, there’s nowhere you go in the country that you don’t have a drug abuse problem. One in
resource allocation, Division Chief in the Fiscal Affairs Department of the IMF, Davide Furceri, acknowledged the difficult steps Nigeria had taken in recent times, particularly the painful reforms designed to create fiscal space. However, he insisted that future expenditures must be guided by stronger prioritisation and improved efficiency.
He said, “Nigeria managed to do a very difficult reform that was important in delivering fiscal savings. That said, we understand that many countries, including Nigeria, face pressing spending needs. But spending must be done wisely. This means stronger prioritisation and greater efficiency in how resources are allocated.”
Furceri pointed out that the quality of fiscal institutions would play a defining role in shaping Nigeria’s fiscal trajectory. “One key message not just for Nigeria but for many countries is the importance of strong fiscal institutions. Medium-term fiscal frameworks and solid public financial management systems are essential. They provide a fiscal anchor to guide necessary adjustments and help reduce uncertainty. We want fiscal policy to be a source of stability, not a source of volatility.”
He also reiterated the importance of boosting government revenues, especially through non-oil sectors.
“It’s important to create additional fiscal space. In Nigeria’s case, that means focusing on two things: first, boosting revenue through improved mobilization efforts, and second, scaling up spending in key areas like social protection and investment,” Furceri added.
On his part, the Director of the Fiscal Affairs Department at the IMF, Vitor Gaspar, cautioned that while the reforms were commendable, governments, including Nigeria must now focus on putting their fiscal house in order.
He said: “In an uncertain and rapidly changing world, countries will need to first and foremost put their own fiscal house in order. This means implementing prudent policies within robust fiscal frameworks to build public confidence and help reduce uncertainty.
seven Nigerians between the ages of 15 and 64, use drugs.
“You have mentioned our efforts to cut off access and availability of these drugs but beyond that we have to work with all stakeholders including NYSC to ensure drastic reduction in the demand for drugs by our youths and one of our strategies to address this is through our drug integrity test, which we’re advocating that NYSC should embrace for corps members.
“As I said, while we do the drug supply reduction, we also do drug demand reduction through preventive measures, as well as counseling and rehabilitation. Now, these are important areas for further collaboration.
“You have introduced in the camps, the war against drug abuse clubs, which is fantastic. One other important area of collaboration is the question of drug integrity tests for youth corps members. It’s a major drug demand reduction effort.
“The same way we said, if you are getting married, both the bride and the groom, should bring a drug free certificate. This is because it is always
better to detect drug use early before it gets to addiction which eventually could get to psychiatric problems and it becomes a danger to the user and the society.” He said another area of collaboration was the posting of a sizeable number of corps members who studied Guidance and Counselling, Psychology, Nursing and Psychiatry to NDLEA Counselling and Treatment Centres across the country as their place of primary assignment during their one-year national service. He said this would enable the corps members acquire knowledge and experience in rehabilitation and psychosocial services.
In his response, the NYSC DG described the drug integrity test as a fantastic idea while he promised to study the NDLEA proposal for possible collaboration.
He assured him that the scheme would develop a general guideline to post as many corps members with required qualifications to NDLEA Commands with Counselling and Treatment Centres across the country.
Chiemelie Ezeobi
A coalition of civic advocacy organisations has called on the Independent National Electoral Commission (INEC) to immediately release the Certified True Copy (CTC) of the recall petition filed against Senator Natasha Akpoti-Uduaghan.
The groups insisted the senator must be furnished with the official copy of the first petition before any subsequent recall attempt is entertained by the commission.
The coalition noted they had earlier made a jointly signed letter dated April 14 2025 to INEC and it was officially acknowledged by INEC on April 15, 2025.
The letter was endorsed by Mr. Anthony Ubani, Executive Director of FixPolitics Africa, and Dr Abiola Akiyode-Afolabi, Executive Director of the Women Advocates Research and Documentation Centre (WARDC). Other co-signing organisations include Enough is Enough (EiE) Nigeria and the Transition Monitoring Group (TMG).
“We understand that Senator Natasha Akpoti-Uduaghan has requested the CTC of the recall petition your office received against
her,” the letter reads.
“Also, following the commission’s announcement that the petition did not meet the threshold, the petitioners are in the process of collecting additional signatures and plan to resubmit the petition,” the group added.
INEC had earlier dismissed the initial petition to recall the senator, citing its failure to meet the constitutional requirements. However, reports indicate that efforts are underway by the petitioners to file a second petition with additional signatures, a move which the stakeholders warn must not proceed without adhering to the principles of due process.
“We understand that the allegations of forged signatures can only be investigated by the police and the true nature of support for the recall process will only become apparent if the commission goes to the field for verification,” the coalition stated. The stakeholders underscored that the right to receive the CTC of the original petition is not only procedural but a constitutional safeguard that ensures fairness and transparency in democratic processes.
L–R: Special Adviser, Diaspora Health Affairs, Office of the Minister of State for Health and Social Welfare, Dr. Adebayo Adedewe; Permanent Secretary, Lagos State Health Management Agency (LASHMA), Dr. Emmanuella Zamba; First Lady of Lagos State, Dr. Claudiana Ibijoke Sanwo-Olu; Head of Service, Lagos State, Mr. Bode Agoro; and Chairman, House Committee on Health, Lagos State House of Assembly, Hon. Musbau Lawal, during the Ilera Eko Day Celebration held in Alausa, Lagos, yesterday
PDP I n D ISA rr AY ! of the PDP to be able to advise as to what necessary steps that needed to be taken.
“It is said that when the taste of the palm wine changes, the drinking pattern also changes and the leaders of the party were unanimous in their view that the political temperature has changed.
“And there was a need for change that will help cement the development in our state; to build the bond of love that has existed in our state and to further advance the security and welfare of our people.
“Like you know, every politics is local. So in taking this decision, we came to the inevitable conclusion that moving out of the PDP is very necessary for us to collaborate with our kits and kin and build that bond that we have been enjoying.
“We believe that what is happening in the PDP at the national can be likened to that Palm wine whose taste has changed and that is why this decision has been taken. By the grace of God, on Monday next week, we would be able to make a bold statement that we are moving to the APC.”
With Oborevwori now in APC colours, the South South’s political map tightens as the new alignment enhances President Bola Tinubu’s re election calculus by adding roughly 1.4 million Delta votes to the ruling party.
At the meeting, all stakeholders, leaders and members of the PDP resolved to join Governor Sheriff Oborevwori to move to the APC and would be received at a rally by Vice President, Kashim Shettima at the Cenotaph, in Asaba, on Monday.
The PDP stakeholders meeting was attended by the Deputy Governor, Sir Monday Onyeme; immediate past Governor of the State and former Vice-Presidential candidate of the party, Senator Ifeanyi Okowa and members of the National Assembly.
Also in attendance were the Speaker of the State House of Assembly, Hon. Emomotimi Guwor and his colleagues; Commissioners, Local Government Council Chairmen, top government functionaries, stakeholders, leaders and party officials.
It is, however, important to understand the import of this development and one of the reasons it matters is because it concerns the implosion of the former ruling party and now the main opposition party, after being in power for 16 years, and coming 10 years after it lost power. Again, it matters because Delta State is a rich and strategic state, with the highest revenue from FAAC, and with access to between N60 billion to N100 billion every month.
In addition, this defection matters because as the heartbeat of Nigeria, Delta is home to six major ethnic groups with impact and influence
beyond its borders. For instance, with the Ijaws of Delta South, whose influence reaches Bayelsa, Rivers and Ondo States, it had since put the PDP in control of Bayelsa and Rivers States.
The question to ask is therefore: Will Governor Douye Diri of Bayelsa State and Siminalayi Fubara of Rivers State join their kits and kin in Delta in the ruling APC, given that one of their stalwarts, Senator James Manager of Delta, was the one who announced the defection in Delta?
While the Igbo-speaking Delta North could influence Anambra and Enugu into the APC, the Itsekiri of the South will be comfortable with their Yoruba kits and kin in the South-west.
To that extent, it is with the Urhobo of Delta Central that the impact of this defection will be most felt.
This is because Governor Oborevwori is Urhobo, along with his erstwhile opponent and leader of the APC, former Deputy Senate President, Ovie Omo-Agege, who is also Urhobo. Senator David Dafinone, too, is an Urhobo, alongside the Minister of Aviation, Festus Keyamo. That is where the battle for the governorship will take place.
Keyamo, it will be recalled, was one of those who facilitated the defection to counter the influence of Omo-Agege’s influence. With Delta safely in APC, one impact will be stability in oil production, given that a lot of the militants and oil pipeline contractors, led by Tompolo are also from Delta.
Thus, with Delta APC’s hold, it will have an impact across southern Nigeria, up to Akwa Ibom, all of whom had already declared their support, and Cross River as well. What to watch out for, will be a rift for Delta governorship, where Omo-Agege may want to challenge Oborevwori. But with Oborevwori now with him in the same party, the battle line will be drawn.
It is also worthy of note that, there was speculation yesterday that Omo-Agege may want to return to the Senate, and dislodge Dafinone. But Godswill Akpabio, the Senate President may not want that to happen, because if Omo-Agege goes to the Senate, he will challenge him for Senate Presidency. So, those are some of the dynamics at play in Delta. These are some of the reasons it matters. It will definitely have an impact in the presidential race in Nigeria and across the South-south.
With Okowa going now, it shows that APC may now be finding its roots as a Southern party, and could lead to a North-South divide.
With the current state of play, what is known is that Okowa and the governor felt they were not consulted by Abubakar Atiku and his group in the coalition that they were trying to form and that the
Northern elements had gathered and agreed on the new idea, even before they invited them as joiners. They are of the view that if they were serious about Southerners, they would have invited them as co-conveners, but they had already made up their mind to form a coalitionbefore inviting them. Therefore, the governor and Okowa did not want to be joiners. The announcement by the APC recognised them as foundation members of APC, and not as joiners.
So, the view, especially Okowa’s is that Atiku in trying to run for presidency, again, will ensure the presidency goes to the North in the coalition party, and having made their errors in the past, he believes it is South’s turn to produce the presidency, and that the way the coalition is, it is going for a Northern candidate, and they don’t want to be the party that will remove the presidency from the South, hence, theirsupport for Tinubu.
What Happens Next?
Next in the unfolding developments is to watch the following states: Oyo and Osun as well as Akwa Ibom, which has already declared support for the president but remained silent on defection because of certain concerns. Also, to watch is Enugu, Abia, as well as Anambra or APGA. Governor Chukwuma Soludo is already in some sort of alliance with the ruling party. So, he’s planning to support Tinubu to secure his own re-election.
Alex Otti was Tinubu’s banker.
Even if he is in the Labour Party (LP) during the day, he’s Tinubu’s friend at night. Akwa Ibom already said it is going with Tinubu head or tail. Osun is likely to work for Tinubu since Governor Ademola Adeleke’s re-election is at stake. Seyi Makinde is reticent to follow Tinubu now, because he feels that he supported Tinubu in 2023, but till now, he has not got any reward. Not even an appointment of any of his aides. So, he is angry with the president. But mediations are ongoing between the two of them. So, while all those are in negotiations, it is important to stress that they are all Wike’s supporters and friends. In other words, they are still waiting. Essentially, at the end of the day, what happens is that most southern states are likely to go the APC way, while APC tries to woo the North Central States as a counter to the core north. That is if the north insists on its coalition producing a northern candidate.
This is because the Tinubu camp believes it’s the turn of the South, and they’ve said that they must spend eight years, and that’s what they are saying across the board.
APC Commends Decision to Join Ruling Party
has commended the Governor of Delta State, Sheriff Oborevwori, Ifeanyi Okowa and others, for their decision to join the party.
National Publicity Secretary of the party, Felix Morka in a statement, said: “Our great party welcomes this important development, and assures the governor and incoming leaders and members of Delta PDP of our fullest cooperation and accommodation in the APC family.
“With this move, coming on the heels of steady decamping of PDP leaders and members across the state to APC, including members of Delta Unity Group in Ika federal constituency, we are delighted that Delta State, now an APC state, stands poised to contribute maximally to the success and realisation of the Renewed Hope Agenda of President Bola Ahmed Tinubu, and to the enduring good and prosperity of Deltans and all Nigerians.”
Meanwhile, the APC in Delta State handed direction on how the entrants into the party could go about their formal registration.
In a statement titled: “Notice of Collection of Registration Booklets By Local Government Chairmen” signed by State Publicity Secretary, Valentine Onojeghuo, the party leadership welcomes the new intakes and immediately moved to formalise their membership
“I have been directed by the State Chairman, Elder Omeni Sobotie, to notify all Local Government Chairmen of the party to visit the State Secretariat of the Party for the collection of Registration Booklets for onward distribution to the various ward chairmen for the purpose of issuing membership cards to the numerous new members to ensure the timely and efficient formalization of their membership.
“We also encourage all new members to approach the Party ward chairmen/offices for registration and ensure they complete the necessary formalities.”
Welcoming all new members and looking forward to their contributions, the party gave definite timeline for the collection of the registration booklets as today, April 24 at the party secretariat by 11am.
Wike Hails Okowa, Delta Gov’s Support for Tinubu
FCT Minister, Nyesom Wike, has commended former Governor of Delta State and Peoples Democratic Party (PDP) Vice-Presidential Candidate in the 2023 election, Dr Ifeanyi Okowa, for supporting President Bola Tinubu.
“It is another endorsement of the president’s good governance and commitment to the development of the country,” he said.
He described the open endorsement of the President by Okowa, who incidentally was the running mate to Alhaji Atiku Abubakar, as a vindication of the position he took in 2023, which was based on the interest of a united Nigeria.
“I commend Dr. Okowa and Governor Sheriff Oborevwori for this heart-warming decision, which must have been informed by good governance and commitment of President Bola Tinubu to the oneness and development of Nigeria.
“That is what I have always told people to come out and say, not when they have problems and begin to run up and down. “They have come out at the right time to show support for the President so that the people of Niger Delta can benefit more from the government, and I commend them.
“I am particularly happy that what I saw before the 2023 presidential election, others are now seeing and are joining the Renewed Hope train,” Wike said.
A former Deputy National Chairman of the party, Chief Bode George, has expressed shock following the gale of defections from the PDP in Delta State, saying those leaving were going to uncertainty.
“I am shell-shocked. How can our governors from an organised party defect to an unorganised party like APC with only two people – President Bola Tinubu and All Progressives Congress (APC), National Chairman, Ganduje – dictatorially controlling the party?” he asked.
The PDP chief stressed that the APC was a party of strange bed-fellows and “I urge Deltans not to follow Oborevwori to APC because Delta is a PDP state from 1999 and it shall remain so.
“Presidency and APC are using instruments of state to coerce PDP governors to defect to APC. They are being threatened. PDP sponsored Oborevwori as governorship candidate. So, he has to leave office.
“Attempts to turn Nigeria to a one-party state will fail. What has APC done since 2015 that will warrant any PDP governor to defect to the party?”
billion each annually to alleviate the suffering of the masses.
Addressing the PDP crisis, he wondered why Atiku and Wike should be hobnobbing with opposition elements and still claimed to be part of the PDP structure.
He said: “What exactly is going on? Anybody who is tired of PDP should leave and join another party. Enough of this embarrassment. As a founding elder of this party, I will not watch while some people openly disrespect the party. It is impossible.
“General Muhammadu Buhari (retd) remains my boss but he is not a member of our party. So, why is Atiku hobnobbing with him politically? Is he not guilty of anti-party offence already? The other day, President Bola Tinubu told Wike that APC must win the council election in FCT and he agreed.
“Wike has been given a direct order to win FCT for APC and he still claims to be a member of PDP. Are people now shameless politically that they cannot be principled? Where is the leadership of our party? Why are they tolerating Atiku and Wike? Why are they allowing the duo to continue to embarrass our party publicly?
“Now, some governors are joining them to endorse Tinubu’s reelection in 2027. I ask again: what exactly is going on in our party? Has discipline gone to the dogs? Has everything broken down completely? Has sanity taken flight in the way we run the party now?
“Nigerians are yearning for change, which only the PDP can offer because ours is the only organised party. Apart from Ganduje, who else do you know in APC NWC? APC is a one-man show being controlled from the Villa,” he said.
Osun Rep, Wole Oke, Quits PDP
The National Working Committee of
In a statement yesterday, by his Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, urged other Nigerians, who were still sitting on the fence to throw in their support for the president.
(APC)
However, George, has advised Atiku and Wike, to leave PDP immediately because of their various anti-party activities. He said the party was being embarrassed by the open display of affinity by the two to the APC.
George, in a statement, also advised Tinubu to create a Special Fund account where Managing Directors of banks would deposit, at least, N20
A member of the House of Representatives from Obokun/ Oriade Federal Constituency in Osun State, Oluwole Oke,yesterday, left the PDP. Oke, a six-term lawmaker representing the consistency said he decided to leave the PDP after consulting with his political associates, friends, and family members. His resignation letter, which was sighted by THISDAY, was dated April 16, 2025 and addressed to the PDP Chairman in Ward 7, Obokun Local Government Area of Osun State. Oke also confirmed his resignation in a brief chat on telephone interview, saying “I have resigned from the PDP.” Meanwhile, Obokun PDP stakeholders have reaffirmed their commitment to the administration of Governor Ademola Adeleke.
The stakeholders in their meeting held yesterday said the administration of Adeleke has done enough in the local government hence their resolve to drum their support.
L-R: Chairman, Board of Directors, Nigerian Economic Summit Group (NESG), Mr Niyi Yusuf and Chairman, Borno Development Foundation (BDF), Alhaji Mohammed Hayatu-Deen , at the signing of the Memorandum of Understanding between the NESG and the BDF on Wednesday in Abuja.
Adedayo Akinwale in Abuja
A former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has accusedPresident Bola Tinubu of setting the South against the north because of personal ambition.
He said, “To Tinubu, the 2027 election is about him versus the North,” saying it was why he was trying desperately to enlist the support
of the South through manipulation and subterfuge.
Frank, in a statement yesterday warned both the north and the south against being fooled by Tinubu’s tricks to grab power in 2027. He added that while Tinubu was on the one hand blackmailing Southerners, especially opposition governors on the platform of the Peoples Democratic Party (PDP), Labour Party (LP) and All Pro-
gressives Grand Alliance (APGA) by playing the ethnic card to gain support, he was on the other hand threatening to deal with them if they faildto support him by declaring a state of emergency in their states over spurious charges of violence and corruption.
Frank added that 2027 should not be about North or South but who would fix the myriads of challenges confronting the country.
“He has increased the intensity now by blackmailing, intimidating and putting at least five PDP governors from the South under duress to defect along with their members in the National Assembly to the APC.
“To Tinubu, the 2027 election is about him versus the North and that is why he is trying desperately to enlist the support of the South through manipulation and subterfuge. He has forgotten so soon that the
North helped him to get to power in 2023.
“Nigerians are in need of a president who will help Nigeria become better, not ‘Northern candidate or Southern candidate’ or ‘Northern President or Southern President’.
“The country is overcharged already with divisions along ethnic lines. We therefore can’t afford to have a president who is setting one region against another for the sake
of his own personal ambition.
“For me, Timi Frank, as a Southerner, I don’t believe in tribalistic and a divisive president. I believe in a leader that will come and unite rather than divide Nigeria.
“I advise every Northerner still supporting Tinubu to have a rethink. They should know that the North that apparently ‘assisted’ Tinubu to gain power in 2023 are suffering the most today.”
T I nubu T o In T ell I gence cHI ef S : e noug H IS e noug H ! the president’s directives and ensure a secure environment for all Nigerians.
COAS to Troops: Make Sacrifices to Ensure Peaceful, Secure Nigeria
The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, has charged troops of the Nigerian Army to make necessary sacrifices to maintain peace and security in the nation.
He also tasked the troops to go all out to ensure that criminals did not have any foothold in Kwara State and beyond.
The COAS gave this charge while addressing troops of 22 Armoured Brigade, the Nigerian Army Institute of Science and Education Technology, and those of the Nigerian Army College of Education, Ilorin.
A statement by the Acting Director of Army Public Relations, Lt Col. Appolonia Anele, said the COAS assured the troops of his commitment to improving their welfare by giving adequate attention to barracks infrastructure, improving schools for their children, providing medical services for their families, and supplying necessary kits and platforms to enable them to perform their jobs satisfactorily.
Oluyede noted that the troops’ Ration Cash Allowance had recently been enhanced to spur them to make more sacrifices in keeping the nation peaceful and united.
Stating that without a peaceful environment, no form of development could take place, Oluyede enjoined the troops to strive to eliminate all threats to peace and security in the nation.
While reminding the troops that Nigerians were looking up to them to keep the nation safe and secure and united, he assured them of his unflinching support to ensure that they succeed in all their assigned tasks.
Earlier, the Commander of 22 Armoured Brigade, Brigadier General Ezra Barkins, the Commandant of the Nigerian Army Institute of Science
and Education Technology, Brigadier General Damian Dieke, as well as the Provost of the Nigerian Army College of Education, Brigadier General Chidi Echebiwe, in their separate briefings, highlighted the activities and challenges of their respective formations and institutions.
Alia Seeks FG’s Intervention over Killings
Benue State Governor, Reverend Father Hyacinth Alia, has raised the alarm over orchestrated attacks and killings in the state by militias and therefore called on the federal government to quickly intervene to save lives and property in the state.
The governor described the attacks as a calculated and intensifying siege on his state, attributing the crisis to armed herders and foreign-backed militias whose sole aim was territorial occupation.
Speaking during an exclusive interview on Arise TV Channel, Alia painted a grim picture of persistent violence across the state, noting that when his administration took office nearly two years ago, 17 of Benue’s 23 local governments were engulfed in deadly attacks.
Through concerted security efforts, he said the number has now been reduced to six.
Alia, however, warned that the nature of the threat has evolved, with attackers now arriving without cattle, wielding sophisticated weapons like AK-47s and AK-49s, and executing what he believed were targeted assaults meant to drive indigenous populations off their ancestral lands.
“These are not random acts of violence,” Alia said, adding: “What we are witnessing is organised, intentional, and deeply worrying. The invaders come not just to kill, but to settle, this is land occupation masked as communal conflict,” the governor said.
But in its response to the escalating crisis, the state government has equipped its security forces with over 600 motorbikes and 100 Hilux trucks and reinforced operations through local
joint task forces like Operation Zenda and Operation Anyam Kpatuma.
Yet, despite these efforts, recent attacks in Ukum and Logo local governments led to over 50 deaths in just one weekend, the governor further said.
He expressed gratitude for federal government’s support, including the deployment of two armored personnel carriers and the recent visit of the National Security Adviser.
But he has called for immediate and intensified intervention, emphasising that the state’s agrarian economy was under threat, and civilians were increasingly considering self-defence out of desperation.
The governor also highlighted discrepancies between his security assessments and federal government’s statement, particularly the NSA’s assertion that no Nigerian territory was under non-state actor occupation.
“These are not baseless claims. They are empirical,” he asserted, accusing both internal and external political actors of downplaying the crisis for strategic reasons.
With a judicial panel already investigating attacks in the Sankera axis, Alia promised public accountability.
“Once the findings are concluded, we will publish the names of these attackers. The people deserve justice,” he said.
Fulani Accuse Plateau Community of Rustling over 300 of Its Cattle, Poisoning 36
The Fulani in Plateau State have accused indigenes living in Jouckchal community of Mangu Local Government Area of rustling over 300 of its cattle, while killing another 36 through.
Secretary of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) in Mangu, Musa Muhammad, told journalists in Jos that the incident occurred at about 4:30 pm when the cattle were grazing in the area.
He said the rustlers stormed the area in large number, shooting
sporadically, and as the herders fled for their lives the cattle were taken away.
“The cattle, over 300 belonging to three Fulani; Jeji Boro with 130, Shagari Manu with 70, and Tambaya Jouckchal with 103, were taken by the rustlers,” Mohammad said.
He noted that the incident had been reported to the Commander of Sector 8 of Operation Safe Haven, the DPO of the Police division in the area, Officer in Charge of the DSS, and the Chairman of Mangu LGA, adding that the Sector 8 Commander had deployed troops on Tuesday night to trail the perpetrators, and only five cows had been recovered so far.
Muhammad, who accused Mwaghavul youths of the rustling, said the death toll from cattle poisoning on Tuesday morning in the same Mangu LGA had risen to 36, with the death of additional ten cows yesterday’s morning.
Lamenting the enormous losses, Mohammad called on security personnel to ensure recovery of the stolen cattle, stressing their commitment to peaceful coexistence.
But responding to the allegation, National President of Mwaghavul Development Association (MDA), Bulus Dabit, denied that incident happened.
He said, “I am just hearing about the incident from you. I wasn’t aware. There are cattle rustlers all over the places. Criminals are found within every tribe including the Fulani. We have already warned our youths against any form of criminality. And I don’t think they will engage in such. I will do my findings.”
Gov Inuwa Yahaya in Billiri, Sympathises with Families of Easter Tragedy Victims, Donates Money Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, has paid a condolence visit to Billiri Local Government Area to commiserate with the people and families of victims, who lost their lives in a tragic accident
during an Easter procession.
The fatal incident claimed the lives of five persons and left several others injured.
Speaking at the palace of the Mai Tangle, Dr. Danladi Sanusi Maiyamba, Yahaya expressed heartfelt sympathies on behalf of the government and people of the state.
He described the incident as deeply saddening and prayed for the repose of the souls of the departed and speedy recovery for the injured.
In a gesture of compassion and support, the governor announced a donation of two million naira each to the five bereaved families, bringing the total donation to ten million naira.
He also pledged to cover the medical bills of those currently receiving treatment in hospitals across the state.
“No right-thinking individual would ever wish such a tragedy upon others. This is one of those moments that reminds us of the fragility of life and the ultimate will of the Almighty God, which no man can question,” he said.
Yahaya lamented that the incident marked the third of such tragedies in recent times following accidents during both Christian and Muslim celebrations, and called on security agencies and community leaders to draw lessons and implement better strategies to prevent future occurrences.
He cautioned against any acts of lawlessness in the wake of such tragedies, emphasising the need to uphold peace and lawful conduct.
“While we grieve, we must remain law-abiding. Resorting to self-help or taking the law into one’s hands will only worsen the situation, and security agencies will not stand by and allow such actions to go unchecked,” the governor cautioned.
Niger State Government has said the reason it restricted the movement of commercial motorcycles and
tricycles in Minna, the state capital, to restore peace. Government had on Tuesday an- nounced the indefinite restriction of operations of commercial motorcycles and tricycles in the capital city of Minna from 6pm to 6am daily. Special Adviser to the Governor on Print Media, Aisha Wakaso, said in a statement that, “The recently imposed curfew on motorcycles and tricycles, popularly known as keke napep, is not intended to punish law abiding citizens.
“Rather, it is a proactive and urgent measure to address the growing insecurity that has afflicted parts of the state capital in recent days.”
According to the statement, “Governor Mohammed Umaru Bago fully understands the challenges this temporary measure may pose to hardworking Nigerlites, who go about their businesses legitimately” adding that, “The safety of lives and property remains the topmost priority of the administration.”
Wakaso recalled that over the past six days the state capital had witnessed disturbing incidents of violence, with several lives lost to attacks by miscreants operating in a manner akin to mini cult groups. She added that the groups, made up of young boys of between the ages of 13 and 22, had exploited the ease of movement provided by motorcycles and tricycles to commit crimes across various parts of Minna and evade arrest.
“If these boys are not restricted, they can carry out criminal activities in one part of town and vanish into another within minutes. Their swift mobility not only makes arrests difficult but also enables the rapid spread of their operations.”
She further argued that it was in a bid to disrupt these activities that the state government imposed the curfew.
“While the government understands that this will affect movement and commerce, it is a necessary sacrifice to restore sanity and protect the lives of our people.”
david-Chyddy Eleke in awka
The Anambra State Government has said that the state is striving to be livable and a prosperous one governed by law and order, and cannot create different rules for the rich and another for the poor.
The state government stated this in reaction to the recent
demolition of the Nnewi showroom of Innoson Vehicle Manufacturing (IVM) Limited, makers of Innoson motors.
There have been controversies about the demolition, which also affected the home of the late leader of All Progressives Grand Alliance (APGA), Dim Chukwuemeka Odumegwu Ojukwu; his wife, the Minister of
FCT Minister Nyesom Wike yesterday raged with some top FCTA officials after reports emerged that, Julius Berger, the contractor handling the renovation of section of the International Conference Centre (ICC) had outsourced a section of the contract without his consent.
He let out anger when he heard that the contract for the conference hall had been sublet to another contractor by the Abuja Investments Company Limited (AICL).
The minister later disclosed he had invited Julius Berger, the Executive Secretary of the FCDA and the MD of the Abuja Investments Company Limited to unravel the mystery behind the act, warning he would not hesitate to wield the big stick if anybody is found culpable.
He stated: “You would see that we were at the ICC, the work is going as expected. The only problem which we identified this afternoon has to do with the furniture that will be in the conference hall.”
yinka Olatunbosun
Veteran journalist and Senior Vice Chairman/ Editor-in-Chief of Leadership Newspaper, Azu Ishiekwene, has tasked journalists, writers and students on the need to distinguish themselves by honing their writing skills and styles.
State for Foreign Affairs, Bianca Ojukwu, and a church building.
The demolition was to give way for the construction of a new road linking Nnewi to Ozubulu
and Ihiala. Controversy started after a content creator posted on social media that Anambra State Government embarked on the demolition without notifying
Innoson, damaging some of their vehicles in the showroom.
But in a statement issued by the state Commissioner for Information, Dr. Law Mefor, he
insisted that the company was notified since November last year, while a meeting was also held a month before with all those whose properties were affected.
James sowole in abeokuta
The Ogun State Government has arraigned the Olu of Obafemi in Obafemi Owode Local Government, Oba Taofeek Kayode Owolabi, for land grabbing. Owolabi is a coronet Oba and a member of the Egba Traditional
Council and is currently under suspension.
Specifically, the government, in a statement yesterday by the Ministry of Justice, noted that the royal father was taken to court for conspiracy to sell property without authority, sale of property without authority, unlawful use of agents, forceful takeover of land,
In a landmark moment for infrastructure financing in Nigeria, Craneburg EKSG Motorway Company Plc, in collaboration with InfraCredit, yesterday officially signed the final documents for its N32.5
billion 20-Year 22 per cent Fixed Rate Senior Guaranteed Infrastructure Bond issuance.
assault of a police officer, and obtaining by false pretence.
According to the statement, which affirmed the monarch’s presumption of innocence, Owolabi was accused of laying an unlawful claim to 500 acres of land within Obafemi Owode town and deceiving a developer, one Dr. Michael Adeyemi, into paying
him N75 million for the land.
The statement added, however, that Owolabi never remitted the sum to the landholding families, adding that the traditional ruler also placed thugs on the land, who macheted one individual, while he personally attacked a police officer from the task force combating land grabbing in Ogun State.
The signing ceremony, which took place in Lagos, had representatives from guarantor, the issuing houses, legal advisers, and capital market operators in attendance.
.The proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti
State. This project forms part of a broader 68km road network designed to unlock intra-state mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
Commenting on the development, Chairman of Chairman of Craneburg Construction Company, Mr.Femi
Edun, said: “We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product. The product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably
automotive manufacturing and technology.
Let us rise together. Let us shine together.”
The author said that writers can accelerate their careers by finding their voice in their writings, embracing Artificial Intelligence (AI) as a tool for effective writing and while not depending on it. The book reading session was attended by young writers and journalists with the desire to learn how to monetise their writings using available resources for the target audience.
The Chairman of Origin Tech Group, Prince Samuel J Samuel has Samuel urged Nigerians to remain hopeful, unified, and committed to the vision of a prosperous nation. Origin Tech Group is a Nigerian conglomerate with major ventures in agriculture,
At the ‘Book Reading’ session for his book titled: ‘Writing for Media and Monetizing It’, held at Tayo Aderinokun Hall, University of Lagos, the journalist, who boasts of 35 years’ experience, stated how writers can earn money and live well on their craft and career as a writer.
The former Bursar of the Lagos State University, Ojo, Mrs Olayemi Bajomo, has passed on to glory on 28 March 2025 at the age of 78. According to a statement, Mrs Bajomo was a devout christain who loved God passionately. She was born on 15 January 1947. She started her schooling at Ago Ijaiye Primary school Ebute Metta and then proceeded to Methodist Girls High School (MGHS), Yaba. At MGHS, she excelled both academically and in sports especially in the sprints where she won several medals and represented MGHS at several metes. Olayemi then proceeded to the Yaba College of Technology to study Accountancy. After obtaining her National Diploma from YabaTech, she secured a job at the Lagos University Teaching Hospital (LUTH), Idi-Araba. Mrs Bajomo later joined the Nigerian Institute for Medical Research (NIMR), Yaba. After some years she moved over to the Lagos State University in 1983 where she had a sterling career and rose to the position of University Bursar in November 2000. She retired from service in 2005.
In a season marked by reflection, renewed purpose, and the promise of new beginnings, Prince Samuel, in a statement said: “This is the only country we all have. Let us keep the faith.
The Origin Tech Group who spoke to the power of hope, faith, and resilience as takeouts from the recent Easter celebrations, and more importantly as Nigeria enters a pivotal moment in its
national journey, stressed:”Life happens in seasons, and just like this period, Nigeria too is in a season of renewal. It is a time to strengthen our faith—not just in God—but in ourselves, in each other, and in the greatness that lies ahead for our country.”
Borno State Governor, Professor Babagana Zulum, has flagged off the second phase of the empowerment programme initiated by the Senator representing Borno Central, Senator Kaka Shehu Lawan.
The initiative is set to benefit a total of 3,092 constituents across the eight local government areas of the senatorial district.xq
Out of the toxqtal beneficiaries, 2,592 individuals will receive various empowerment items
including Hijet mini trucks, tricycles (Keke Napep), deep freezers, sewing and grinding machines, solar-powered and mechanical water pumps, fertiliser, rice harvesters, and other agricultural equipment. While the remaining 500 beneficiaries will receive a cash
Kayode Tokede
VFD Group Plc yesterday announced update to its shareholders on the recent mark down in its share price, regarding the qualification period following the announcement of the Group’s 5-for-1 bonus share offer and 2025
dividend declaration.
The company had proposed a final dividend of N2.50 per share payable to shareholders whose names appear in the register of members as at the close of business on April 22.
The diversified industries company said April 22, 2025 was
marked the official qualification date for its Group’s 5-for-1 bonus share offer and 2025 dividend declaration.
According to the company, its share price closed at N96 per share and following this, the share price was marked down to N15.6 per share, in line with Nigerian
support of N100,000 each Zulum, at the flag-off ceremony in Maiduguri, commended Senator Lawan for his consistent efforts towards improving the livelihoods of his constituents and for his broader contribution to the development of Borno State.
Exchange Limited (NGX) listing regulations.
The company in a statement obtained by THISDAY explained that the markdown simply reflects the price adjustment associated with the impact of the bonus issue on the increase in the number of shares in circulation.
Gbenga sodeinde in ado Ekiti
The HACEY team made this revelation during a courtesy visit to the Ministry of Health and other various government establishments in the state yesterday in Ado Ekiti.
According to the team leader,
A non-governmental organisation, HACEY, has called for improved sexual health and rights among youths in Ekiti State while also advocating comprehensive health sensitisation among adolescents.
Isaiah Adedayo, the coalition team of the joint advocacy alliance members is seeking to partner civil society organisations and government parastatals in the state.
Adedayo said HACEY has trained 60 civil organisations in Ekiti State with the aim of expanding information which will enable youths and adolescents take advantage of health centres in their respective environment which will also promote sexual health knowledge and benefits.
0811 181 3083
Duro Ikhazuagbe
Super Eagles 2026 World Cup opponent, Zimbabwe, have confirmed moving their high-stake clash with Bafana Bafana on October 5 from South Africa to Rwanda. Should Zimbabwe’s Warriors win the match, it is going to open opportunity for Nigeria to return to reckoning in the race for the lone Group C ticket.
Zimbabwe who remain under FIFA ban from hosting matches due to stadium inadequacies back home, had initially staged two of their ‘home’ games in South Africa.
Zimbabwe’s Warriors first home game against Super Eagles was played in Rwanda, but the subsequent matches against Lesotho and Benin Republic took place on South African soil.
But after the Warriors secured a
valuable 1-1 draw with Nigeria in Uyo in March, the Zimbabweans suddenly realized that despite having just five points and at the bottom of the table, a win against the South Africans in a ‘neutral’ ground could
possibly move them to eight points and a mathematical chance of also picking the group ticket
The Super Eagles are in fourth place in Group C, with seven points — six adrift of table-toppers South Africa
Crystal Palace twice came from behind to draw 2-2 at second-placed Arsenal and leave Liverpool one point from being crowned Premier League champions for the second time in five seasons.
A draw against Tottenham Hotspur at Anfield on Sunday (16:30 BST)
on 13 points. Although they stand to be deducted three points for fielding an ineligible player against Lesotho. Rwanda are second on eight points and a better goals difference than third-placed Benin Republic on same eight points.
Any slip-up from Hugo Broos’ Bafana could reopen the door for
Nigeria to re-enter the qualification race while Zimbabwe also will fight till the end of the qualifying series. South Africa had beaten Zimbabwe 3-1 in the reverse fixture.
The updated fixture list now sees Zimbabwe travel to Abidjan to face Benin on September 1, before hosting Rwanda in South Africa on
September 5. Then comes the key fixture against South Africa in Rwanda on October 5 — coinciding with Nigeria’s away tie against Lesotho. On October 8, South Africa wrap up against Rwanda while Super Eagles will play their final group game at home to Benin Republic.
would now be enough for Arne Slot’s side, who lead Arsenal by 12 points, to clinch their 20th league title - equalling Manchester United’s record.
Both Arsenal and Palace’s main
focus is on their cup exploits, with the Gunners in the Champions League semi-finals and the Eagles at the same stage in the FA Cup - and both managers rested key players.
Arsenal took an early lead at Emirates Stadium when centre-back Jakub Kiwior planted an excellent
In continuance of his strives to revamp boxing infrastructures in the country, the CEO of Yucateco Boxing Promotions, Omonlei Yakubu Imadu, has donated an ultra-modern Boxing Ring to the Ekiti State Boxing Association.
At a colourful handover ceremony held at the Lady Jibowu’s Hall of the Ekiti State Governor’s Office in Ado-Ekiti on Tuesday, the State Governor, Biodun Oyebanji, who was on hand to recieve the first-rate boxing equipment, praised Imadu’s magnanimity and his commitment to empower young people through sports.
In his words: “ Ekiti State has produced several talented sportsmen and women in the past, and we believe that this equipment will further help to discover more of such talent, most especially in boxing”.
The Governor further appreciated the kind gesture of the Yucateco boss, and promised that his government
will partner him in developing boxing in the State. As a show of
commitment, Governor Oyebanji promised Yucateco an acre of land
to build a Gymnasium and other facilities for boxing in Ekiti State.
In his remarks, Imadu appreciates the government and people of the State especially the boxing family for an open hand extended to him as he promised to initiate boxing programs across the 16 local government area in the state.
“In his words: “ i wish to first appreciate his Excellency, Governor Biodun Oyebanji, for his transformative leadership and hospitality. Permit me to state that the Boxing Ring donation is only the beginning of what is to come. This will be followed by an inter LGA competition to discover boxing talents for the state and the country at large”.
“ Yucateco will build an ultramodern boxing Gymnasium here in Ekiti, we would also sponsor the training of boxing coaches, Ring officials, and Administrators of the game in the state,” Imafun pledged.
Foremost football administrator, Chief Jonathan Boytie Ogufere, has expressed his heartfelt condolences over the recent death of former national team Captain and Coach, Christian ‘Chairman’ Chukwu, adding that the erstwhile Enugu Rangers’ defence stalwart will ‘be dearly missed’.
In a personally signed letter of condolence, the former President of West African Football Union (WAFU), described Chukwu who died on Saturday, April 12, in Enugu after a brief illness at 74, as a ‘hero of our time and a friend’. The nonagenarian recalled with nostalgia how he nearly recruited the young Chukwu for his P & T Vasco da Gama Football Club of Enugu, adding he was impressed with how the ‘Field Marshal Christian
Chukwuemeka ‘Chairman ‘ Chukwu (MFR), conducted himself throughout his career as he led both the national team, the then Green Eagles and his beloved Enugu Rangers to many conquests.
“I join numerous others to mourn the transition of the legendary Christian Chukwu, a hero of our time and friend,” the Ugbugba of Okpe Kingdom wrote.
“As one of the young academicals discovered after the end of the Civil War in 1970, I tried to enlist him into my club, the P & T Vasco da Gama Football Club of Enugu but he was fair and frank in informing me that he had already joined Enugu Rangers Football Club, and I respected that attitude. From the rivalries between the two clubs, his exploits as a central defender were very visible.”
header past Dean Henderson from a Martin Odegaard free-kick in the third minute.
Palace looked dangerous on the attack but vulnerable at the back, and Oliver Glasner’s side equalised through a cleverly worked set-piece in the 27th minute.
Adam Wharton clipped the ball to the edge of the area and Eberechi Eze volleyed his shot into the ground and the ball hit the post before making its way into the net.
Leandro Trossard gave Arsenal the lead just before half-time when he picked up a pass from Jurrien
Timber and squeezed a shot into the bottom corner.
The Eagles continued to push for an equaliser and had good opportunities with headers from Justin Devenny and Ismaila Sarr but neither could get a good contact on the ball.
Palace did level for a second time through substitute Jean-Philippe Mateta, when William Saliba gifted him the ball with a dreadful loose pass 25 yards out and the striker produced an excellent chipped finish over stranded Arsenal goalkeeper David Raya.
Duro Ikhazuagbe
In apparent response to the move by the National Sports Commission (NSC) to get some experts from abroad to come to the country to help fix some of the stadium pitches challenges, an expert in that sector, Ebi Egbe, has cautioned against wholesome import of European technology to solve the problem.
Early this week, Chairman of the NSC, Malam Shehu Dikko, confirmed on social media that he has started discussions with some European stadium facilities companies to help solve Nigeria’s pitch challenges.
He admitted that despite the many stadiums scattered across the country, only the Godswill Akpabio Stadium in Uyo has the only acceptable quality for CAF and FIFA matches.
But Egbe whose Monimichele Stadium Construction Facility Limited has its stamp on no less than 15 stadiums in the country, insisted that the NSC boss must watch his moves so that his good intentions do not turnout in the negative.
“This is a nice move by the NSC Chairman to help solve the stadium pitches problems in the country. However, a pitch that works in Europe most times struggle to be effective in Africa most especially
West Africa and Nigeria in particular,” began the pitch expert.
“As a trained groundsman with specialty on Hybrid pitch technology, I will advise the National Sports Commission Chairman to thread carefully on this very sensitive pitch issue. This is because Nigeria does not have the culture to support those European pitches and more so, he is not a professional in the pitch construction industry,” stressed the Monimichele CEO.
Egbe further stressed that what Nigeria needs today are “sustainable pitches that can outlive major tournaments by 10 years.”
He insisted further that “Monimichelle Sports’s primary business is sports facilities construction with special focus on hydroponic hybrid pitch technology.
This is our turf. If the sports commission needs an advice on suitable pitches for Nigeria, we are ready to offer our services pro bono. We don’t have to be their contractor,” Egbe offered.
“We are all pained that the Nigerian national team the (Super Eagles) does not have an elite pitch to support their elite style of play thereby giving smaller countries advantage when playing against the star-studded Nigerian side,”concludes Egbe.
Flykite Productions, organisers of GOtv Boxing Night, have assured fans of maximum security ahead of the 33rd edition of the event scheduled for Saturday at the Molade Okoya-Thomas Indoor Sports Hall, Teslim Balogun Stadium, Lagos. Speaking ahead of the event, Bamidele Johnson, Chief Operating Officer of Flykite Productions, stated that all necessary measures have been taken to ensure a safe and enjoyable experience for attendees.
The night’s headline bout will see teenage sensation Raheem “Badoo” Animashaun take on Jean Coffi of Benin Republic. Ghana’s Emmanuel Otoo and Nigeria’s Tosin “Sojar Boy” Osaigbovo will face off in an international lightweight bout
between Also on the card are William “Kaki” Amosu, who takes on Emmanuel “Ability Famous” Abimbola, and Sikiru “Omo Iya Eleja” Shogbesan squaring off against Segun Gbobaniyi in a highly anticipated lightweight clash.
Other top fights include a national super bantamweight clash between Durotimi Agboola and Sodiq “Happy Boy” Adeleke, and a light welterweight duel between Tobiloba “Silent Assassin” Ijomoni and Azeez “Latest” Ayobami. GOtv Boxing Night 33 is sponsored by GOtv Nigeria and will air live on SuperSport. The best boxer on the night will receive a ₦1 million cash prize.
SESSion on GoVERnAncE AnD RiSK...
L-R: Group Chief Risk Officer, United Bank for Africa(UBA Group), Mrs Awele Ajibola; Chairman, UBA Cote d’Ivoire, Mr. Kouame Kouassi; Non-exective Director, Chairman, Board Risk Management Committee, UBA Group, Mrs. Caroline Anyanwu; Group Chairman, UBA, Mr. Tony elumelu; Group Managing Director/CeO, Mr. Oliver Alawuba; Non-executive Director and Chairman, Board Audit, Governance, Nomination and Renumeration Committee, UBA Group, Ms Angela Aneke; Non-executive Director and Chairman, Board Operations & Technology Committee, UBA Group, Mrs. Henrietta Ugboh; and Chairman, UBA Cameroon, Mr. ebenezer essoka, during the Interactive Panel Session on Governance and Risk at the 2025 Group Chairman’s Forum in Abuja ... yesterday
Long before the late Sergei Mavrodi arrived on the Nigerian financial scene in November 2015 with his MMM pyramid scheme, his reputation as an international fraudster preceded him. As far back as 2007, Mavrodi had been convicted in Russia for defrauding 10,000 investors. But somehow, he survived brushes with the law over sharp practices to go global with a Ponzi scheme that promised 3,000 percent ‘return on investment’ after upending the savings of more than a few people in his country. With such tantalising promise, it came as no surprise that Mavrodi would hit the jackpot in Nigeria where too many citizens are looking for ‘miracle money’.
Unfortunately, by December 2016, the scam had unravelled, leaving about three million Nigerians holding the wrong end of the candle just days before Christmas. “What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones?” an unrepentant Mavrodi asked in a letter he posted on the page for swindled participants of the scheme but addressed to then President Muhammadu Buhari. “They know there
are no investments at all. The warning is a red text on a yellow background placed on the most prominent place of the website.”
Following that misadventure, the Security and Exchange Commission (SEC) warned Nigerians about patronizing Ponzi schemes. SEC listed a few of these ventures to include Now-Now Alert, Flip Cash Investment, Result Investment Nigeria Limited, Helping Hand and Investment, No Failure Development and Empowerment Nigeria Ltd, and several others. Despite the warning, patronage for these Ponzi schemes only increased. A few of them also devised a clever way to legitimise their businesses: They boycotted industry regulator, SEC, and secured certificates of registration with the Economic and Financial Crimes Commission (EFCC). That became the tool for deceiving the unwary.
The latest of these ‘businesses’ is Crypto Bridge Exchange otherwise called CBEX which has scammed our people to the tune of more than a trillion Naira, going by most reports. Registered with the Corporate Affairs (CAC) last September, its EFCC certificate was obtained in January this year. Because they do their
businesses online, it is easy for most of these crooks to evade accountability, but it is also obvious that they have collaborators within the system. It is important that they be identified and brought to justice.
Meanwhile, I have read the lamentation of several of the victims, but they have only themselves to blame. The Yoruba people have a way of putting this: “Eni nwá’fànw’ófò..” Crudely translated, it means financial deals that are too good to be true most often end in tears. Perhaps the United States SEC definition of Ponzi schemes would be more useful. “A kind of pyramid scheme that operates on the ‘rob Peter to pay Paul’ principle,” the US commission explains. “With the promise of large returns as bait, the fraudster takes in money from new investors and uses it to pay off the earlier investors until no more new recruits can be found and the whole scheme collapses, with the newest investors losing everything.”
It is easy for all kinds of dubious businesspeople to prey on the greed and ignorance of gullible Nigerians. That is because the virtual collapse of the moral frame of our government mirrors other fractures in our society. There is also a way in which we can connect
this to the get-rich-by-any-means mentality that is at the heart of the activities of ritualists as captured in my column of last week. Incidentally, I received several mails on that column but one stood out for me. It is from a young man, Oluwafisayo Agbolabori. He highlighted several things that are often ascribed to ‘miracles’ by many Church leaders in Nigeria in a manner that absolves people of their responsibilities. “At the individual level, such ‘miracles’ corrupt the minds of the gullible into thinking that there is an ‘invisible hand’ somewhere that could change N3,000 to N3,000,000,” he wrote. “As a Christian, I strongly believe in miracles. But my point is this: Instead of sharing these ‘miracles’ that, at best, can’t be replicated by most of our people, the clerics can share the potency (miracle) of self audit, hard work, self reliance etc...” I agree with Oluwafisayo. The mentality that stupendous wealth could be ‘created’ outside productivity or credible investment also explains why promoters of Ponzi schemes continue to thrive. But the real enablers are the regulatory institutions whose certificates assist these crooks in their nefarious activities. That is where the real inquisition should begin on this matter.
Whether you are a Pentecostal or a Catholic, there is something about the Papacy that makes almost every occupant a unifying force for Christians. But in the death of Pope Francis, just as it was with Pope John Paul II in 2005, there is a sense of universal grief. Whatever misgivings anybody had about some of his positions on contemporary issues, Pope Francis was a genuine shepherd who preached love and tolerance in a world where hate and bigotry have become the defining ethos.
From his humble background as a chemical technician and bouncer in his early life, to Bishop in his native country of Argentina, Pope Francis preached social justice for all humanity. He emphasized that clerics must be like medics in a “field hospital” attending to people where they are. And he demonstrated uncommon humility throughout his life and ministry. For instance, in an unprecedented gesture to make the notorious warlord rivals of South Sudan embrace peace, he kissed their feet one by one at the Vatican, after organizing a spiritual retreat for them in April 2019.
There is hardly any worthy social cause that the late Pope did not endorse. On immigration, he tasked leaders to erect bridges and not walls and he supported the campaign on the sustainability of our environment.
“The universe unfolds in God, who fills it completely. Hence, there is a mystical meaning to be found in a leaf, in a mountain trail, in a dewdrop, in a poor person’s face,” Pope Francis wrote in his famous ‘Laudato Si’ delivered in 2015 while advocating “a new way of thinking about human beings, life, society and our relationship with nature.”
But perhaps the most controversial legacy of Pope Francis was his taking sides with the marginalised
communities in every sphere of life by preaching inclusivity. On that score, he challenged doctrinal orthodoxy on the LGBTQ issue with his famous refrain, “Who am I to judge?” on matters of faith and sexual choices. It was not a popular position even among the Catholics, to put it mildly. Within the Pentecostal family, it was almost an anathema.
As I write this piece, I received a forwarded message. After reading it twice, I felt it perhaps sums up the message Pope Francis was trying to pass to some of us who could not understand him. Almost as if the sender was reading my thoughts, she followed up with a terse message: “It’s easy to be judgemental. The
late Pope is a shining example of how NOT to be. A sad loss.” I was shocked that the message reflected exactly what I was thinking at the time.
On reflection, it couldn’t have been an accident that Pope Francis died on Easter Monday. “There are three virtues that the world still needs — faith, hope and love,” King Charles of England wrote in his Easter message last weekend. “And the greatest of these is love”. Yet, to love means we must embrace and respect others even when we disagree with their choices. Therefore, to those whose knowledge of the Bible is restricted to what happened to Sodom and Gomorrah, Pope Francis is reminding us that there is also Psalm 130 verse 3 in the same Bible: “Lord, if you kept record of our sins, O LORD, who could stand?”
Now, to the WhatsApp message. Like all such messages, nobody knows the original writer, but here it goes, though slightly abridged: IchuckledthefirsttimeIcameacrossthephrase, “Untilyouhavemoneytofinanceyourtemptations,don’t bragaboutmorals.Toomuchishiddeninpoverty.”It peeledbackthecomfortablelayersof‘self-righteousness’ weoftenwearandexposedanuncomfortabletruth: that what we sometimes call morality may, in fact, be a privilege of limited options. It reminded me of anothersaying:“Youcallitcorruption-untilitcomes yourway.Thenyou’llcallitconnections.Andifyou’re religious, you might even call it grace.”
Inourmoralsuperiority,wemistaketheabsenceof opportunityforstrengthofcharacter.Andindoingso, wejudgeothersthroughalenscloudedbycomfort, detachment, and unchecked privilege. It’s easy to seem disciplined when nothing desirable is within reach. Easy to appear loyal when there’s no better offer on the table. Easy to claim honesty when a lie
has never promised to save you. And so, we stand on our ‘safe little hills’ of assumed virtue, pointing fingersatthosewhofall—neverpausingtoaskwhether we’dhavedoneanybetterintheirplace.Maybewe haven’tresistedasmuchaswethink.Perhapswe’ve just never been offered the shortcut. Thisisn’ttoromanticizefailureorexcusepoorchoices. It’snottosaywrongbecomesrightifit’sunderstandable. No.It’sacalltohumility.Areminderthatjudgment withoutcontextisn’tstrength.It’seasytojudgeothers simplybecausetheysindifferentlythanyou.It’seasy …to scoff at the one who compromised - until your own values are tested not in theory, but in fire.And whenthat‘fire’comes-anditdoescome-youbegin to understand that real morality is quiet. It’s forged in private.And it costs. Weshouldn’tglorifymistakesorblurthelinebetween right and wrong. But we must stop weaponizing virtue.Becausemoralityisn’tprovenbytheabsence of failure. It’s revealed in the presence of options. It’s folly to assume we’re better simply because we haven’tfacedthesamestorms.Lifehasafunnyway ofhumblingpeople.Theverythingyouoncejudged maybecomethethingyouonedayunderstand.And when that moment comes, may you be met with compassion - not condemnation. We’re all human. Alllearning.Allnavigatingthechaosoflifewiththe toolswe’vebeengiven,instoriestheworldmaynever fully know. So, hold your standards high - but hold your heart higher. Speak truth—but season it with tenderness. And let your integrity be the kind that doesn’t need a stage to be real. Pope Francis did not author the above. But that, I guess, was the message he was trying to pass to some of us. May his legacy endure!