Declares zero VAT on food, education, healthcare, rent, others Discloses external reserves grew by 500% from $4bn to over $23bn Edun: Impression Nigeria Will Borrow $25 Billion in Two Years Erroneous –Page 66
Over 900,000 bene ciaries of Presidential Loan and Grant Scheme
Over 300,000 bene ciaries of Students’ Loan Scheme
Over $10 billion FX debt cleared
Over 440 ongoing road projects, including over 2,700km of superhighways
3.84% GDP growth in Q4 2024, highest in 3 years
N70,000 minimum wage payment
Over 13,500 terrorists eliminated
Over $50 billion in new FDI commitments
Net Foreign Exchange Reserves up from $3.99 billion (2023) to $23.11 billion (2024)
Over $8 billion in new oil and gas investments unlocked
4 new landmark Tax Bills
5 new Regional Development Commissions
Over $800 million realized in processing investments in solid minerals in 2024
May
President Tinubu is sworn in as Nigeria’s 16th President, and in his Inaugural Speech, announces the removal of petrol subsidy
June
President Tinubu appoints Special Advisers
President Tinubu signs new Electricity Act into law, allowing states to independently generate, transmit and distribute power
Central Bank of Nigeria (CBN) announces the uni cation of all segments of the forex exchange (FX) market
President Tinubu signs into law a Bill to harmonize the retirement ages of judges across courts
July
President Tinubu announces interventions to cushion the e ects of subsidy removal
President Tinubu declares State of Emergency on food security.
President Bola Tinubu is elected Chairman of the Economic Community of West African States (ECOWAS)
President Bola Tinubu signs four Executive Orders to ameliorate negative impacts of tax adjustments on businesses
August
Establishment of Presidential Compressed Natural Gas (CNG) Initiative
Swearing-in of Ministers following their con rmation by the Senate
September
President Bola Tinubu approves initiative to provide 5 million eye glasses for Nigerians with vision impairment
October
Inauguration of rst of two O shore Patrol Vessels being delivered to the Nigerian Navy, at the Dearsan Shipyard, Turkey.
November
Launch of 3 Million Technical Talent (3MTT) Program
President Tinubu establishes Presidential ‘Unlocking Healthcare Value-Chain’ Initiative, designed to unlock billions of dollars of new investment into Nigeria’s healthcare delivery system
The economy is sailing in the right trajectory. Today, we are seeing an e ort to banish hunger and a commitment to food security and the empowerment of our people. Small and large-scale farming will be encouraged. Once we liberate ourselves from hunger, we will appreciate peace and harmony.
President Bola Ahmed Tinubu
January 2024
President Tinubu approves over N5.1 billion for the funding of 185 successful research proposals under the TETFUND National Research Fund
President Bola Tinubu signs 2024 Appropriation Bill into law
President Bola Tinubu assents to the Defence Industries Corporation of Nigeria (DICON) Bill, 2023
February 2024
Federal Executive Council approves contract for the construction of 700km Lagos –Calabar Coastal Highway
Launch of the Renewed Hope Cities and Estates Programme, with the groundbreaking of a 3,112-housing unit project in the Karsana District of the FCT.
Induction of newly acquired T-129 ATAK helicopters and King Air 360i aircraft into the Nigerian Air Force (NAF)
Launch of N50billion Pulaku initiative aimed at addressing the root causes of herder-farmer clashes
Nigeria signs MOU with Afrexim Bank for a $1 billion programme to support the development of the healthcare sector.
CBN announces complete clearance of veri ed FX backlogs to airlines in the aviation sector.
March 2024
Central Bank of Nigeria announces it has cleared all valid foreign exchange backlogs, totaling $7 billion.
The Renewed Hope Infrastructure Development Fund (RHIDF) is launched A special NSCDC unit, the Mining Marshals, is launched to secure mining sites across the country.
President Bola Tinubu approves construction of 6 world-class cancer treatment centres across the 6 geo-political zones.
Central Bank of Nigeria donates 2.15 million bags of fertilizers to the Ministry of Agriculture and Food Security, for nationwide distribution.
Federal Government unveils MOBILIZER app designed for citizens engagement and mobilization.
Launch of “Outsource to Nigeria Initiative” in Gombe, to capture a signi cant portion of the global Business Process Outsourcing (BPO) market.
President Bola Tinubu issues three landmark Executive Orders on Oil and Gas Reforms, to attract new investment
During President Tinubu’s State Visit, Nigeria signs seven major agreements with Qatar.
April 2024
Flag-o of distribution of 42,000 metric tonnes of grains approved by President Tinubu for vulnerable Nigerians.
We rea rm our commitment to securing our future, rebuilding prosperity, and ensuring that every Nigerian shares in the dividends of governance… After the initial turbulent take-o , our people can see signs of progress and the promise of a better future. Our economy is turning the corner.
President Bola Ahmed Tinubu
Launch of N200 billion Presidential Loan and Grant Scheme, for Nanobusinesses; Micro, Small and Medium Scale Enterprises (MSMEs); and Manufacturers in Nigeria.
Launch of National Single Window Initiative to streamline trade processing, as part of ease of doing business reforms
Launch of an upgraded Citzens’ Delivery Tracker App, a platform that enables Nigerians to assess the performances of ministers in the Federal Cabinet.
First Lady Remi Tinubu launches the second 76-meter O shore Patrol Vessel built for the Nigerian Navy, in Turkey
May 2024
Commissioning of three critical gas infrastructure projects in Imo and Delta states.
Commencement of commercial operations on the rehabilitated Port Harcourt – Aba rail line
Commissioning of 3 warships and 2 helicopters by the Nigerian Navy, at the Naval Dockyard Limited (NDL), Lagos
Senate approves President Tinubu’s $500 million World Bank loan request for procurement of prepaid meters
Operations resume at the revived Abuja Light Rail Mass Transit
Federal Executive Council approves N110 billion for the restructured Nigeria Youth Investment Fund (NYIF)
June 2024
Launch of the Skill-Up Artisans Program (SUPA), targeting the training of 5 million artisans annually.
President Bola Tinubu signs Executive Order to remove import duty and VAT on speci ed machinery, equipment and raw materials for production of pharmaceuticals, diagnostics, and medical devices.
July 2024
Supreme Court judgement delievered a rming the constitutional autonomy of local government.
Launch of the Nigerian Education Loan Fund, following the approval of N35 billion for its take-o
August 2024
President Bola Tinubu attends Forum on China-Africa Cooperation in Beijing, China
President Tinubu approves implementation of zero percent import duty and exemption of value-added tax (VAT) on basic food items.
September 2024
Commencement of payment of N70,000
National Minimum Wage
Kick-o of implementation of the National Consumer Credit Scheme
Establishment of Disaster Relief Fund for the country
NBS discloses that Nigeria recorded N6.95 trillion trade surplus in Q2 2024
Going by experiences of the past and the need to depart from old ways, our reforms have been hard. I made tough decisions so that we could grow. We are gradually seeing the light at the end of the tunnel.
President Bola Ahmed Tinubu
President
Former Head of State, Yakubu Gowon; and President of the ECOWAS Commission, Dr. Omar Alieu Touray, during the ECOWAS
Says it’s the most incompetent, disconnected, and anti-people in nation’s history
Insists reckless, insensitive removal of subsidy responsible for economic hardship Coalition in dilemma over choice of party as Atiku, Oyegun, others resolved on ADC
Chuks Okocha in Abuja and DavidChyddy Eleke in Awka
Former Vice-President Atiku Abubakar, yesterday, scored the administration of President Bola Tinubu low, after spending two years in office, saying his government has failed the people.
But the coalition of opposition against the reelection of Tinubu appears to be in dilemma over the choice of political party to use as the vehicle for the 2027 general election.
This was as the Anambra State governorship candidate of the African Democratic Congress (ADC), Mr John Nwosu, has said only the coalition could save Nigeria, adding it was the primary reason some political actors were coming together to rescue the nation from bad governance.
In a statement he personally signed, Atiku, who said, the opposition coalition members would not be silenced, and that they would reject any attempt at a one party state, dismissed the administration as the most incompetent, disconnected, and anti-people in nation’s history.
‘’In just two years, President Bola Ahmed Tinubu’s administration has proven to be one of the most incompetent, disconnected, and anti-people governments in Nigeria’s
democratic history.
“No previous administration has inflicted this level of hardship on the masses while showing such disregard for transparency, accountability, and responsible leadership,’’ he said.
While assessing the administration further, he said, ‘’This government has not only deepened poverty across the country, but it has also set new records in wasteful public spending.
‘’At a time when millions of Nigerians are struggling to survive, government officials are living in excess and approving budgets that benefit the elite at the expense of the common man.
“It is sad that apart from being the poverty capital of the world, Nigeria has under this administration emerged the capital of malnourished children in Africa, having beaten Sudan, a nation that is at war.
“According to the Global Hunger Index 2024, our country is one of the most affected by hunger and malnutrition, occupying the 18th position,’’ he stressed.
The former vice president stated that, ‘’Policy after policy under this administration has targeted the poor while providing relief and advantage to the rich. ‘’From healthcare to education to identity management and basic
public services, Nigerians are now faced with class-based systems where the wealthy enjoy VIP treatment, and the rest are left behind’.
‘’Just two weeks ago, the National Identity Management Commission (NIMC) hiked its fees by 75%, introducing VIP protocols for services that should be a basic right of citizenship.
“In education, public university fees have been raised far beyond the reach of poor families, with no
adequate support mechanisms in place,’’ he stated.
Even more troubling, he aid, was the scale of borrowing under this government, adding that, ‘’When President Tinubu assumed office in 2023, Nigeria’s total public debt stood at approximately N49 trillion.
“In just two years, that figure has skyrocketed to N144 trillion — a 150% increase — with more foreign loans now being requested, which could
push the debt to N183 trillion.’’
He explained further that, ‘’While the federal government racks up debt, state governments have shown more discipline, reducing their debt levels from N5.86 trillion to N3.97 trillion.
‘’The implication is clear: the federal government, under Tinubu, is the primary driver of Nigeria’s current debt crisis.’’
Atiku explained that, ‘’President Tinubu’s justification — that new borrowing is needed to fund the 2025 budget and soften the impact of fuel subsidy removal — is both weak and dishonest. It was the reckless and insensitive way his government removed the subsidy that created much of today’s economic hardship in the first place.’
‘’Today, Nigeria is a nation where the rich get richer, and the poor are punished for trying to survive. This reality cannot and will not be ignored.
As part of efforts to tackle perennial issues of tax evasion and revenue leakages that have long plagued Nigeria’s tax administration, the Federal Inland Revenue Service (FIRS) has concluded a 2-day stakeholder engagement on its National E-Invoicing Project.
The event, held in Lagos, brought together industry leaders and stakeholders from the manufacturing sector to
The House of Representatives has resolved to investigate the alleged poor state of Nigerian missions abroad, particularly the United States of America.
The decision of the House followed the adoption of a motion moved at the plenary yesterday, by Hon. Kingsely Chinda.
Moving the motion, Chinda expressed concern over the embarrassing findings discovered at the recent oversight visit of the Nigeria-United States of America Parliamentary Friendship Group to Nigeria’s Mission Houses in New York, Atlanta and Washington D.C.
He noted that the mutual diplomatic representation was very
crucial for promoting understanding and international cooperation amongst various countries, and projecting a positive image of Nigeria among the comity of nations.
Chinda also lamented that the Nigerian Mission House in New York was reportedly indebted in rent payments and had left over 30 staff without salaries for over a year.
He decried that in Washington D.C, the elevator in the Mission House was only repaired after a patriotic Nigerian intervened to restore it, an act which, while noble, underscores gross negligence and systemic dysfunction in the running of Nigeria’s foreign missions.
The lawmaker said that these
foreign missions serve as a means of interface for the Nigerian government, foreign governments and other international organisations, saying they are strategic for advancing Nigeria’s diplomatic, economic, cultural and technical aid policies.
He expressed concern that for two years running, Nigeria has failed to replace Nigeria Permanent Representative to the United Nations and Nigerian High Commissioner to the USA who chairs the Committee on Peace.
Chinda added that this dereliction, amongst other issues, has created a negative perception of Nigeria globally and would potentially harm the country’s aspiration for a permanent seat in the UN security council.
discuss the initiative and provide input on its implementation.
The latest engagement marked the fifth sector-specific engagement session, following previous sessions with tax consultants, large taxpayers, financial services, and the oil and gas sector. FIRS has been engaging various stakeholders to ensure that the einvoicing project is tailored to meet the needs of different industries and sectors.
Project Manager for the e-invoicing initiative, Mr. Mohammed Bawa, emphasised the importance of the manufacturing sector to the economy and the FIRS’ commitment to valuing their input.
“We know that the manufacturing
sector is the heartbeat of commerce, trade, and all commercial activities that happen within Nigeria,” he said. “Without you, where would we be? We would not cook, we would not eat, we would not do all of those things. But thank God for the value that you provide to the economy of our nation.”
He added, “We are excited to work with you to ensure that this project is a success and benefits both taxpayers and the government.”
The Director of Project Delivery, Mr. Kunle Olley, revealed that the e-invoicing initiative was designed to build trust between taxpayers and the FIRS, promote transparency, and automate taxation in the country.
“We want to build up trust between
you and us, between our taxpayer and FIRS, and then we want to have transparency into whatever we are doing,” Olley added.
“We are not trying to penalise taxpayers, but to collaborate with them to make sure that we automate taxation in the country.”
He further said, “The e-invoicing project is a game-changer for Nigeria’s tax administration. It will help to reduce tax evasion and revenue leakages, and promote transparency and accountability in business transactions.”
The FIRS has developed a digitalised solution, called the Merchant Buyer Solution (MBS), which will capture invoices and manage tax compliance automatically.
The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye, has called on the federal and state governments to immediately appoint ambassadors and inaugurate boards of Ministries, Departments, and Agencies (MDAs), in strict adherence to their enabling laws.
Oye, who is also the Chairman of the Organised Private Sector in Nigeria (OPSN), said the current structure has fostered a two-man
leadership dynamic, typically between the Minister and the Head of MDA, leading to decisions being made in isolation, often devoid of critical input from the private sector and civil society.
According to a statement, Oye spoke in Benin City, during the Nigerian Investment Promotion Commission (NIPC) Summit.
He said, “The governments at both national and state levels, must take immediate action to appoint Ambassadors and inaugurate Boards
for various parastatals in accordance with their enabling laws, ensuring that these bodies convene regularly to enhance effective governance.
“The current state of affairs, characterised by a concentration of power in a two-person rule- Hon. Minister and Head of MDAs, is detrimental to the functioning of these agencies, they are not insulated from political influence, as it stifles the critical input and insights from the private sector in both policy formulation and execution.”
L–R: Director General/Chief Executive Officer, Infrastructure Concession Regulatory Commission, Mr. Jobson Oseodion Ewalefoh; Chairman/Founder, Emosim, Mr. Jimmy Eboma; Immediate Past Executive Vice Chairman/Chief Executive Officer, Nigerian Communications Commission, Prof. Umar Danbatta; Chief Executive Officer, Emosim, Mr. Karn Gulati; and Chief Operating Officer, Emosim, Mr. Aditya Khosla, during the official launch of Emosim (Travel eSIM) in Lagos, yesterday
Reaffirms Nigeria’s commitment to group, urges member states to match policy with action Gowon commends dedication of successive ECOWAS leaders, decries resurgence of military coups in region
Touray confirms Mali, Burkina-Faso, Niger, still friends with ECOWAS ECOWAS moves to combat drug abuse in region Tuggar highlights achievements, future priorities for regional body
Deji Elumoye, Michael Olugbode in Abuja, Emma Okonji, Sunday Ehigiator and Agnes Ekebuike in Lagos
As the Economic Community of West African States (ECOWAS) celebrated its 50th anniversary in Lagos, yesterday, Nigeria’s President, and Chairman of ECOWAS Authority of Heads of State and Government, President Bola Tinubu, has hailed the commission, describing it as the ‘beacon of Africa’s Unity’.
He also reaffirmed Nigeria’s commitment to the regional bloc, urging other member states to endeavour to match every ECOWAS policy with
action in their respective countries.
This was as the ECOWAS Commission yesterday, moved to combat drug abuse in the West African sub-region with the development of a comprehensive digital platform to serve as a centralised system for data input by national focal points, as well as enhance the West African Epidemiology Network on Drug Use (WENDU) project.
Also yesterday, Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, highlighted the achievements of the regional body, its enduring relevance, and Nigeria’s pivotal role in its progress.
Speaking in Lagos, Tinubu said, “ECOWAS is the beacon of Africa’s
unity. In overcoming colonial policies and legacies, we brought together Anglophone, francophone and Lesothophone nations, an achievement of global significance.
“Yet, our diversity is often for our unity and stability. Our regional and pioneering free movement has expanded inter-trade, regional trade and equal integration through instruments like ECOWAS trade and joint border agreements. These measures have facilitated business, cultural, and mobility across Western countries.
“On peace and security, ECOWAS acted decisively to restore constitutional order and counter-intervention. Our regional cooperation on counter-
terrorism and financial crime, including through GIABA, reflects our shared commitment to peace and security.
“In governance, ECOWAS has upheld democratic norms through election observation, mediation, and institutions such as ECOWAS Parliament and Court of Justice.
“In making a compatible rule of law and people-centred governance in agriculture and infrastructure, we have launched bold strategies to address our food security and to drive our regional development.
“The ECOWAS Infrastructure Master Plan 2020-2045 provides the framework for connectivity, trade and prosperity.
On ICT and digitalisation, we are
The N300 billion Series VII Sovereign Sukuk recently offered by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN) posted an unprecedented subscription level of over N2.205 trillion, according to official information.
This represents a subscription over 735 per cent, a clear demonstration of the huge investor-appetite for the ethical instrument introduced by the DMO in 2017.
According to information made available by the debt management agency yesterday, subscribers for the N300 billion Sukuk with a seven-year tenor and rental rate of 19.75 per cent cut across various segments of the public.
The subscribers were drawn from retail, non-interest banks and financial institutions, deposit money banks, pension fund administrators, and asset/fund managers, among others.
Like the previous series, funds realised from the Issuance would be used by the FGN to construct new roads and rehabilitate existing ones, as well as build bridges in
the six geo-political zones of the country and the Federal Capital Territory.
“The raising of funds through Sukuk to finance infrastructure projects aligns with Mr. President’s Renewed Hope Agenda of which infrastructure development is a key pillar.
“The DMO remains committed to providing safe and liquid investment products to the public and supporting the FGN’s development plans,” the DMO said in a statement marking the end of the subscriptions.
The latest Sharia-compliant investment instrument, offered with a seven-year tenor, ending in May 2032, was opened for subscription on May 12, 2025.
In the offer document, the minimum subscription was set at N10,000 and in multiples of N1,000 per unit, thereby promoting inclusivity.
The sovereign Sukuk has evolved into a key funding tool for Nigeria’s infrastructure development while promoting ethical finance and financial inclusion.
According to analysts, the strong demand and consistent oversubscription of the sukuk
instrument since it made its debut in September 2017 reinforce the its credibility, transparency, and broad investor appeal. They posit that the increasing oversubscription in the recent years signals deepening investor confidence and demand for ethical, government-backed securities.
Since the introduction of Sukuk
in the federal government’s funding mix for road infrastructure, in 2017, the Series VII N300 billiion remains the biggest so far and the highest subscribed.
The federal government had last year fully and successfully repaid the interest and principal of the premier N100 billion Sukuk issued in 2017.
embracing innovation to drive growth from Internet exchanges, platforms like ECOGO, which strengthen gender reporting and regional accountability.”
President Tinubu added: “This Golden Jubilee is not merely a celebration of the past, but a summons to shape the future, commanding us to let us draw strength from our history, courage from our struggles and hope from our shared potential.
“In our unity lies our power, in our solidarity, our success. For the people of West Africa, this is your community, your man, a building, your effort, your vision, your resilience, your sustenance, your dreams will define what it becomes.
“You must understand; the future belongs to us all. Yes, on behalf of the government and the people of Nigeria, I reaffirm our enduring commitments to ECOWAS. The idea that it represents is great for all.
“It is very inspiring. It is part of a renewed hope agenda. To the young generations coming, we are here to mentor you. We want to earn a banner without spilling the huge beauty of West Africa.”
Also speaking, Nigeria’s Former Head of State, and the only surviving founding member of ECOWAS, General Yakubu Gowon, commended the dedication and contributions of all the successive ECOWAS leaders, both past and present, for the continuous unity enjoyed by the region.
He condemned the resurgence of military coups in Mali, Burkina-Faso, and Niger, but expressed optimism over their possible return to ECOWAS, only if the body remains open-minded in its continuous engagement with them.
According to him, “As we commemorate this golden jubilee, allow me to commend the dedication and contribution of all successive ECOWAS leaders, past and present, who in various capacities have championed and continued to advance the noble cause of regional integration.
“Through their vision, commitment, and tireless efforts, they have helped to sustain and deepen the foundations of cooperation, solidarity, and collective progress that we envisioned at the inception of this community in 1975.
“In recent years, we have witnessed a troubling resurgence of military coups in some of our member states. We thought that was over. It seems as though personal ambition drives some people to do the wrong thing.
“The nations that have chosen to exit the community may in time reconsider their decision, as the bonds of history, culture, and shared destiny remain unbroken. I am confident that with goodwill and sincere engagement, they will find reason to return to ECOWAS, farming stronger, more united, and committed to our common vision for West Africa.
Wale Igbintade
Mr. Austin Obigwe, a former Group Executive Director of Union Bank Plc, yesterday told a Lagos State Special Offences Court how he wrote off a $2.3 million debt owed by Arik Air to his private firm, Staal Corp, due to the airline’s financial difficulties.
Obigwe, who appeared as a prosecution witness in the ongoing trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed
Kuru, and four others, said the debt was never repaid but was written off as a business decision.
“I am not interested in collecting it. I wrote it off when I discovered that Arik Air started having challenges,” Obigwe told the court during cross-examination.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Kuru, the former Receiver Manager of Arik Air, Mr. Kamilu Omokide; Arik’s CEO, Capt. Roy Ilegbodu; Union Bank of Nigeria Plc; and Super Bravo
Limited on a six-count charge of conspiracy, stealing, and abuse of office involving N76 billion and $31.5 million.
All defendants pleaded not guilty and were granted bail by Justice Mojisola Dada in the sum of N20 million each, with a surety in like sum.
Obigwe, under cross-examination, stated that after leaving Union Bank in 2009, he began consultancy work with Arik Air and some other companies.
He also admitted that Arik Air’s
founder, Sir Johnson ArumemiIkhide, was a personal acquaintance, but there was no current business relationship with Arik Air. He further told the court that in 2009, he participated in the inspection of 26 Arik aircrafts, which Lufthansa certified as airworthy. The witness maintained that during his time at Union Bank, there were no complaints from other banks suggesting Arik Air was defaulting on loans, and to his knowledge, the airline was servicing its loans.
Chiemelie ezeobi, Chuks okocha, Ndubuisi Francis, emmanuel Addeh, onyebuchi ezigbo, James emejo, Alex enumah, Linus Aleke, Kazeem Sumaina, Kuni tyesi, Folalumi Alaran, emma okonji, Chinedu eze
President Bola Ahmed Tinubu, alongside his Vice President, Kashim Shettima, assumed office on May 29, 2023 on the back of a campaign to revitalise the nation’s economy, enhance infrastructure, and address the country’s long-standing security challenges
After taking the reins of power, Tinubu immediately embarked on the removal of fuel subsidies and the unification of the naira exchange rate, policies he said were designed to stabilise fiscal imbalances and attract foreign investment.
Also, worthy of mention is the ongoing complete overhaul of the nation’s tax system, meant to boost revenue, reduce reliance on borrowing, and ensure long-term economic stability.
Through the reform, the government aims to expand the tax base and improve collection efficiency by simplifying tax laws, consolidating outdated legislation, and introducing more equitable tax rates.
While these measures have garnered praise, especially from international financial institutions, they have also precipitated a cost-of-living crisis, with inflation surging and many Nigerians facing increased economic hardship.
Over the last two years, these initiatives, among several others, including the struggle to engender a comprehensive security architecture, closing the infrastructure gap, attracting investment to the oil and gas sector, have been met with scrutiny in terms of their successes and challenges.
On security, for instance, in spite of the renewed attention to making the country safer, there appears to be something fundamentally wrong with the strategy of the government to tackle criminal activities nationwide.
From Borno, which has seen the resurgence of the Boko Haram terrorists, to the killing fields in Benue and Plateau, the government, for want of a better word, now comes across as helpless.
As the administration reflects on its achievements and shortcomings at its midterm point, the nation stands at a crossroads, weighing the promises of reform against the realities on the ground.
While his supporters argue that he’s laying a strong foundation for Nigeria’s future, others believe that the administration has totally derailed.
Although Tinubu’s first two years in office have been marked by these bold economic reforms, ambitious infrastructure blueprints, and an aggressive push to reposition Nigeria on the global stage, yet the pace and cost of these policies have drawn sharp criticism from citizens and observers alike.
In this review, THISDAY delves into the progress made so far as well as some of the challenges, some of which have seemed insurmountable in the last two years.
The Tinubu administration made a courageous, but controversial move by removing fuel subsidies shortly after assuming office in May 2023. The removal was aimed at eliminating the multi-decade fiscal burden on the federal government as its retention meant that Nigeria had been spending billions of dollars annually to keep fuel prices artificially low.
While this policy of ending fuel subsidy was praised by economists for promoting market efficiency and reducing corruption, it also sparked widespread public outcry due to the immediate hike in fuel prices, which led to inflationary pressures on food, transport, and other essential goods.
Although the government attempted to cushion the impact through palliative measures, such as cash transfers and food distribution, critics argue these efforts have been insufficient.
Overall, although the subsidy removal marked a major policy shift, signaling a commitment to structural reform, many Nigerians have questioned the transparency with which the so-called savings from the subsidy removal policy are being managed. So far, Nigerians have not been briefed as to where these monies are being kept or the projects that they have been invested in.
Following the fuel subsidy removal, the Tinubu administration pursued the deregulation of the downstream petroleum sector. This move allowed market forces to determine fuel prices, ended state monopolies, and opened the sector to increased private investment.
In all, even though the much-delayed deregulation was aimed at improving efficiency, encourage competition, and attract foreign investment, however, challenges remain, including price volatility, limited domestic refining capacity, and concerns over profiteering. Nonetheless, deregulation represents a significant step towards a liberalised energy market and is expected to improve the sector’s long-term viability, despite all the controversies that have come along with it.
Meanwhile, the altercations between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which has continued to issue import licences to oil marketers, and the Dangote refinery, which has raised concerns over the matter, have been a sore point in the process.
On the other hand, the management of the 650,000 bpd Dangote facility had accused the NNPC of massive product importation despite the capacity of the refinery to meet the fuel demand of Nigerians.
To address the economic strain caused by fuel subsidy removal, this administration introduced a Compressed Natural Gas (CNG) initiative as a cheaper, cleaner alternative to petrol. The CNG programme is part of a wider energy transition strategy aimed at reducing Nigeria’s carbon footprint while making transportation more affordable.
To this end, government-backed incentives were introduced to support the establishment of CNG conversion centres and fueling stations across the country. The programme also includes partnerships with private firms for vehicle conversion and infrastructure development.
However, the implementation has faced logistical challenges and even though it is getting patronage from Nigerians after the initial pessimism, one of the primary issues
has been the lack of infrastructure to support widespread CNG usage.
Till today, filling stations equipped to dispense CNG are scarce, particularly outside major cities, making it difficult for vehicle owners to access the product conveniently. Additionally, the cost of converting existing petrol-powered vehicles to run on CNG remains prohibitive for many Nigerians, despite selective subsidy.
Also, monitoring remains a challenge as the ‘anyhowness’ by private partners who are working with the federal government has continued to reach new levels. A number of the conversion centres have insufficient parts needed for the switch from petrol to gas. Besides, there’s almost zero customer service.
Unless these structural issues are addressed, the transition to CNG risks becoming another well-intentioned but poorly executed policy in Nigeria’s energy landscape.
Meanwhile, despite government’s efforts to promote CNG vehicles as a cost-effective and environmentally friendly alternative, the proliferation of unauthorised conversions and inadequate safety measures at refuelling stations have raised serious concerns.
The so many cases of explosions recorded across the country have highlighted the risks associated with unauthorised modifications with experts and regulatory bodies calling for stricter enforcement of safety standards and greater public awareness to prevent further incidents and ensure the safe use of CNG vehicles in Nigeria.
One of the milestones of the Tinubu administration was the partial resumption of operations at the Port Harcourt and Warri refineries. These facilities had been dormant for years due to mismanagement and lack of maintenance.
The revival, led by the Nigerian National Petroleum Company Limited (NNPC), was part of the push to reduce Nigeria’s reliance on imported refined products. However, full capacity operations are yet to be achieved. While the Warri refinery is not producing petrol at all, the Port Harcourt refinery shut down last week for what the NNPC said
was for scheduled maintenance, just about five months after it resumed operations.
A major achievement of the Tinubu administration in the last two years, was overseeing the conclusion of divestments by several International Oil Companies (IOCs) from onshore and shallow water assets.
The conclusion of the process had been unnecessarily delayed by the Muhammadu Buhari administration. But under Tinubu, progress was made and quickly too. The long-pending divestments of onshore assets included those of Shell, ExxonMobil, Chevron, and TotalEnergies.
Tinubu’s government prioritised the finalisation of these transactions, aiming to foster a more stable investment climate and empower indigenous players.
By midterm, all the outstanding divestments had been concluded, with Nigerian authorities fasttracking ministerial approvals previously delayed under regulatory uncertainties. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the Tinubu administration also provided clearer guidelines on asset transfer conditions, including decommissioning liabilities and host community obligations.
The government’s approach balanced investor exit rights with national interest, ensuring that new indigenous operators could meet technical, financial, and environmental obligations.
It was a long time coming but when Tinubu decided to do it, it was almost a clean sweep. In 2023, Tinubu allowed Mele Kyari to continue as Group CEO of the Nigerian National Petroleum Company Limited (NNPC), transitioning into its commercial phase under the PIA.
For a long time, efforts to open up the NNPC’s operations to more scrutiny were largely unsuccessful. However, Nigerians expect that with the new leadership of the national oil company, led by Bayo Ojulari, there will be more openness in the operation of the company.
Under the former management, a number of the crude-for-loans deals were mainly done with the public kept in the dark. Many Nigerians see the sacking of the erstwhile board as a good first step towards sanitising the national oil company. However, the next few months will determine whether the new management will continue in the steps of the former or chart a more honest and transparent course.
Raising Nigeria’s oil production has been a core economic goal of Tinubu’s administration. Output had fallen to around 1 million to 1.2 million barrels per day in 2022 due to oil theft, pipeline vandalism, and underinvestment.
By Tinubu’s midterm, there have been modest gains, with production now around 1.7 million bpd, plus condensate. The president’s strategy combined technical, security, and regulatory measures.
The ramping up of Operation Delta Sanity by the Nigerian Navy as well as the renewed security contracts with local firms like Tantita Security Services, to combat theft in the Niger Delta, are yielding results. These contracts contributed to a measurable reduction in illegal bunkering and pipeline breaches. Though challenges persist, there has been a steady increase in the country’s oil output.
The Tinubu administration has taken steps to revitalise Nigeria’s ailing power sector through targeted reforms aimed at improving electricity generation, transmission, and distribution. But whether these efforts will significantly turnaround the sector remain to be seen.
Key efforts include the unbundling of regulatory functions of the Transmission Company of Nigeria (TCN), the rise in readyto-use power generation to around 6,000mw as well as support for off-grid solutions such as mini-grids and solar home systems to enhance rural electrification.
Also, the National Integrated Electricity Policy (NIEP), which outlines a roadmap to attract $122.2 billion in investments between 2024 and 2045, seeks to diversify Nigeria’s energy mix.
There has also been a focus on improving the financial health of the power sector. In 2024, the sector experienced a significant revenue boost, with an additional N700 billion realised, marking a 70 per cent increase compared to previous years, especially with the about 230 per cent in tariffs for Band ‘A’. However, persistent issues such as inadequate metering, vandalism of electricity assets, epileptic power supply and illiquidity in the sector
continue to persist.
Road Infrastructure:
a Long Way
The current administration has attempted to expand Nigeria’s infrastructure. A flagship project was the Lagos-Calabar Coastal Highway, a 700 km, multi-trillion-naira expressway linking the South-West to the South-South. Despite controversy over procurement and environmental impact, the project has moved forward, although still at the early stages.
In addition, major corridors like the AbujaKano, Lagos-Ibadan, and East-West roads are seeing continued rehabilitation and dualisation. The administration is also exploring tolling as a sustainable funding model.
Although still a far cry or even a scratch on the surface, overall, the Tinubu administration has shown commitment to infrastructure, but implementation pace and fiscal challenges are key concerns.
One of the key agenda of Tinubu’s administration was to eradicate corruption, which is the major bane of Nigeria’s socio-economic development. The core mandate of the Economic and Financial Crimes Commission (EFCC) is to investigate and prosecute economic and financial crimes.
There is no doubt that the anti-graft agency has recorded some successes in pursuit of its core mandate, under the last two years of Tinubu.
A major success which can be regarded as a landmark achievement in the Commission’s history, is the “single largest asset recovery” of
a total of 753 duplexes and other apartments, on an Abuja property measuring 150,500 square metres.
Also, a few days after the recovery of the Abuja property, the anti-graft agency also secured another final forfeiture of a property, along the Lagos Ibadan expressway. The property is a warehouse measuring 1.925 hectares and situated on Km 8, along Lagos- Ibadan Expressway, Magboro.
In the area of monetary asset recovery, the anti-graft agency between October 18, 2023 – October 18, 2024, recovered a total sum of N248,750,049,365.52 in local currency alone.
However, the failure of the Commission to prosecute some key prominent figures seems to support the claim that the anti-graft agency’s battle against corruption is selective.
The Tinubu-led administration came on the heels of workers agitation for the review of the old minimum wage of N30,000. After some period of waiting, in January 2024, he acceded to the demand of the labour unions to constitute the National Minimum Wage Committee to negotiate a new minimum wage for the country. After weeks of stalled negotiations, back-andforth proposals and growing public frustration, the federal government finally struck a deal with labour leaders to peg the national minimum wage at N70,000.
Under the present administration, Nigeria is actively revitalising its Primary Healthcare
Centres (PHC) with a focus on improving access, service delivery, and overall health outcomes. The government’s strategy involves infrastructure upgrades, capacity building for healthcare workers, and a four-point agenda to improve PHC strategies and mobilise resources. The administration set a target to revitalise a total of 17, 000 Primary Healthcare Centres within four years. Already, the Minister of Health and Social Welfare Prof Ali Mohammad Pate said that 1,003 of the PHCs have been revitalised nationwide, with an additional 5,500 undergoing the process of rehabilitation in various states.
N50bn for Academic/Non-academic Unions
The federal government recently approved the release of N50 billion to be shared by all federal government-owned universities in the country. In approving the money, the government specifically said the fund was for payment of earned allowances for all deserving staff of the institutions.
However, the unions have issued statements rejecting the sharing formula as approved by the National Universities Commission (NUC). Traditionally ASUU has always laid claim to what it called Earned Academic Allowance which it said is for only its members putting extra work load.
Although he started well, not much has recently been heard of the Minister of Transportation, Senator Said Alkali, who was given the mantle of leadership at the transportation ministry by Tinubu on August 20, 2023.
Checks showed that the only visible project currently ongoing is the Kano-Kaduna rail project inherited under the administration of Muhammadu Buhari and with Chibuike Amaechi as the then minister.
The 203 kilometres project, on completion in 2026 would have three major stations at Rigachikun, Zaria and Kano.
Aside from the above, the federal government provided 50 per cent road and 100 per cent free rail transport palliatives for Nigerians during the 2023 and 2024 festive seasons, to cushion the effects of transport cost.
However, there are constant breakdown on the Itakpe-Ajaokuta-Warri rail corridors. Also, there’s no concrete reports of work in the Port Harcourt-Aba-Enugu rail project; Port Harcourt - Maiduguri rail project and the Kano-Katsina- Maradi projects.
Under the Tinubu administration, the only places that have not been violently violated by criminal syndicates are probably the State House in Abuja and Government Houses across the federation, literally speaking.
There is hardly a day that passes without citizens being kidnapped in their homes or on their way to farm, work, parties, or markets. This is in addition to banditry and farmer-herder crises that have denied many locals access to their farms.
The highways are increasingly becoming unsafe, not just because of the bad state of the
roads, but also because of kidnapping, besides armed robbery and cultism, which are making life unbearable for residents.
To further confirm the escalating security threats, statements by security agencies, especially the military and the police, are punctuated with reports of arrests and killings of terrorists, bandits, kidnappers, secessionist agitators, as well as the rescue of kidnapped hostages.
Recently, the terror attacks seem to have moved to military bases as these terrorists have launched a new phase of offensive relying on tech and artificial intelligence.
There has been an escalation of killings of innocent and unarmed citizens by organised criminal groups across the federation. From the North-east, where there’s a resurgence of the Boko Haram fighters, to the North-west, the epicentre of banditry activities and to the North-central, where marauding invaders are running riot.
In the South-east, South-south, and South-west, herders, cultists, kidnappers and other criminal cells are having a field day.
Regrettably, the marauding invaders, terrorists, and other criminal gangs have continued undeterred despite the coordinated operations by the military and other security agencies that had led to the killings of many of them.
The Minister of Defence, Badaru Abubakar, revealed that no fewer than 13,543 of the criminals were killed between May 2023 and February 2025. This, he said, is in addition to the arrest of over 17,000 suspected criminals.
Unending Kidnapping Cases
The occasional abduction of school children and community members by terrorist groups and bandits has gradually metamorphosed into a multi-billion-dollar industry called kidnapping in Nigeria.
No region in the country today can boast of being free from the kidnappers. Little wonder the military and other security agencies now count the arrest and rescue of kidnap victims as major operational achievements.
The student loan initiative, a programme established by the federal government to mop up all financial barriers of students willing to pursue their education up to tertiary level, but facing financial constraints couldn’t have come at a better time than now.
It’s fast becoming one of the most impactful student-focused interventions in Nigeria’s recent history, and is already revolutionising higher education accessibility in the country through its interest free loan. Like most initiatives, it has had its share of challenges.
Issues bogging the initiative include late disbursements of funds, which in many cases force students to pay from their pockets and subsequently get entangled with their various institutions.
Marking one year since its launch and the opening of its student portal in May, 2024, hundreds of thousands of students have registered with over 550,000 successful loan applications and disbursement of N57.85 billion to cover tuition and allowances.
Two years into the administration of Tinubu, one sector that has witnessed bold reforms and renewed attention is the mining industry. Determined to diversify Nigeria’s economy beyond oil, the Tinubu administration has
repositioned solid minerals development as a strategic pillar for growth, job creation, and foreign investment.
Shortly after his appointment, the Minister of Solid Minerals Development, Dr. Dele Alake, declared a state of emergency in the sector, citing widespread illegal mining and its link to insecurity, especially in the northern region. To tackle the menace, the government adopted a dual strategy—security enforcement and sector formalisation.
In early 2024, the federal government launched a special security outfit known as the Mining Marshals, starting with 2,220 personnel and later scaling up to 2,670. Operatives were deployed across all 36 states and the FCT to protect legal mining operations. So far, over 300 illegal miners have been arrested, with about 150 facing prosecution in states such as Kogi, Nasarawa, Kaduna, and Niger.
Simultaneously, the government gave illegal miners a 30-day window to register as cooperatives. Over 250 artisanal mining cooperatives have been formed, leading to the creation of more than 70,000 jobs within a year.
In terms of regulation, the ministry revoked 1,633 licences for non-compliance and another 924 dormant titles to sanitise the licencing regime. A modified electronic platform (eMC+) has now made license applications faster and more transparent, attracting over 10,000 fresh applications in the last year.
One of the administration’s most notable achievements is the sector’s revenue growth.
In 2024, it generated N38 billion, surpassing the projected N11 billion. The Mining Cadastral Office alone raised N7 billion in Q1 2025, while 118 new mineral buying centres were registered in the same period—reflecting rising investor confidence.
Another key reform is the Value Addition Policy, which mandates companies to include local processing plans in their licence applications. This has led to the commissioning of new facilities in Nasarawa and Niger States, where lithium and tin are now being processed locally.
While the mining sector’s contribution to GDP remains modest, rising slightly from N1.66 trillion in 2022 to N1.76 trillion in 2023, the foundation for long-term growth has been laid.
Stakeholders, however, caution that unresolved issues such as multiple taxation, state interference, and infrastructure deficits must be addressed for the sector to fully thrive.
The growth in Nigeria’s Information and Communications Technology (ICT) sector declined in the last two years of President Tinubu’s administration. Growth rates are measured by increased internet usage and advancement in technologies like Artificial Intelligence (AI), Internet of Things (IoTs), and Blockchain technology among others, which contribute to Gross Domestic Growth (GDP) of a country.
Internet subscriptions in the last two years declined, which largely affected ICT growth across the country.
According to the recent statistics released by the Nigerian Communications Commission (NCC), the telecoms industry regulator, the number of subscribers for data internet services in Nigeria had reached 163 million in December 2023, but the subscription figure continued to decline, until it reached 141 million as at April 2025.
Internet subscription dropped from 163 million in December 2023 to 161 million in January 2024, with a further drop to 137 million in May 2024. Internet subscription dropped again to 136 million in June 2024, with a further drop to 134 million in July 2024, before declining
further to 131 million in August 2024.
However, from September 2024 to January 2024, there was slight increase in the growth of internet subscription, as the figures grew slightly from 132 million in September 2024 to 134 million in October 2024, before reaching 139 million internet subscriptions in December 2024 and 142 million subscriptions in January 2025.
Nigerians are connected more to the internet via mobile GSM network, than the Fixed Wired and Wireless networks.
Aside from the decline in internet subscription, ICT contribution to GDP in the last two years has been unstable. It dropped from 16.06 per cent in Q2, 2023 to 13.50 per cent in Q3, 2023, before rising slightly to 14 per cent in Q4, 2023 and 14.58 per cent in Q1, 2024.
ICT contribution however reached as high as 16.36 per cent in Q2, 2024, but declined to 13.94 per cent in Q3, 2024, before rising slightly to 14.40 per cent in Q4, 2024.
Digital economy growth is largely dependent on the level of broadband penetration of any nation, since broadband drives device and network connectivity, including e-commerce growth.
But in the last two years, there has been a slow growth rate in broadband penetration. Again, the 70 per cent broadband penetration target by the end of 2025, is far from being achieved, since the current broadband penetration rate is 48.15 per cent as of April 2025.
Investment in the telecoms sector has also declined in the last two years, owing to rising cost of telecoms equipment.
Also, the 5G network that is driving digital transformation through the use of Artificial Intelligence (AI) has not been fully adopted in Nigeria, since MTN and Airtel launched 5G services in Nigeria in 2022 and 2023 respectively.
Since the commercial launch, only few states have been sparsely covered and the adoption rate in the few states covered has been very slow, thus limiting digital economy transformation and growth in the past two years.
The 10th National Assembly after its inauguration in June 2023 made it a part of its legislative agenda, the task of carrying out key reforms that would enhance transparency, inclusivity, and the overall credibility of elections in the country. However, no serious targets have been met.
So far, the Senate Committee has only had meetings with the Independent National Electoral Commission (INEC), while the House of Representatives has set up a special technical committee to review the Act and propose amendments.
However, areas of concern include reducing the dominance of political parties, attempting to establish an autonomous electoral offences commission and unbundling of INEC.
Other key proposed amendments cover expansion of voting rights by accommodating Diaspora voting, inmate voting and early and special voting.
Significant changes have been taking place in the aviation industry in the two years of this administration. Industry stakeholders have variously commended President Tinubu for the choice of the Minister of Aviation and Aerospace Development, Festus Keyamo, who has made significant impact by pushing policies that are transforming the sector.
The administration started with the release
of over $800 million of foreign airlines revenue, which was trapped in Nigeria, since 2016 to the international carriers, prompting the International Air Transport Association (IATA) to specially commend Nigeria for the prompt payment under a new administration.
Keyamo, a few days after taking over as Minister, directed that airlines on international flight service to relocate to the newly built terminal at the Murtala Muhammed Airport, Lagos hitherto shunned by the operators for alleged lack of capacity.
At that time fire had gutted the baggage movement area of the old terminal and made passenger processing and flight operations difficult. Since then the administration has equipped the new terminal with modern security facilities, e-gate, which enables passengers to access the departures without resort to physical interaction. The forex stability under the administration facilitated the open buyer and open seller policy, which has made it easy for Nigerian carriers to access dollars to acquire aircraft and spares. Tinubu’s administration made a 10-point policy that it must support domestic airlines and mobilised policies and resources to do so. The minister disclosed at the weekend that the federal government would no longer push for the establishment of national carrier; rather, it would now give full support to the growth and expansion of domestic airlines.
Under the two years of this government, the Federal Airports Authority of Nigeria (FAAN) has renewed infrastructure at many of Nigeria’s airports, rehabilitated the runways and earned the certification of the Lagos and Abuja airports by the Nigeria Civil Aviation Authority (NCAA), in accordance to the regulations of the International Civil Aviation Organisation (ICAO).
Forex
In June 2023, the Central Bank of Nigeria (CBN) under Mr. Olayemi Cardoso effected significant reforms in the Foreign Exchange Market, unifying the country’s multiple FX windows into a single market.
The move was aimed to enhance transparency, improve liquidity, as well as stabilise the Naira which was under immense pressure at the time. Prior to the FX unification, Nigeria operated multiple exchange rate windows, including the official rate, the Investors & Exporters (I&E) window, and the parallel (black) market. This system was riddled with inefficiencies, arbitrage opportunities, and a lack of transparency. However, the unification policy consolidated these into a single, market-driven window known as the Nigerian Foreign Exchange Market (NFEM). Under this system, exchange rates are determined by a “willing buyer, willing seller” model, allowing market forces to set the naira’s value.
The single window enhances transparency and efficiency and minimises confusion and creates a more predictable environment for businesses and investors.
The unified FX window also increased investor confidence - allowing market forces to determine exchange rates , a policy that has attracted foreign investors, leading to increased capital inflows.
Essentially, reforms in the FX market resulted in relative stability currently observed in the market.
The CBN’s FX market unification was a remarkable step toward a more transparent and efficient FX system, and lays the groundwork for long-term economic stability and growth. The initiative boosted the country Foreign Exchange Reserves accretion as net foreign exchange reserves reached $23.11 billion in 2024, the highest in three years.
Essentially, FX unification had mitigated exchange rate volatility by over 4 per cent a year ago to less than half of 1 per cent currently, in further evidence of stability resulting from the policy implementation.
As part of efforts to modernise the tax system, enhance revenue generation, and stimulate economic growth, Tinubu initiated a comprehensive overhaul of the country’s tax and fiscal policies on assumption of office in 2023.
The tax and fiscal reforms represented a significant shift in Nigeria’s economic policy, aiming for long-term stability and growth.
In July 2023, the president established the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Mr. Taiwo Oyedele, a renowned fiscal policy expert and former Africa Tax Leader at PwC. The committee’s mandate was to overhaul Nigeria’s tax system to enhance revenue generation, promote economic growth, and improve fiscal governance.
The committee’s work is structured around three core pillars, including fiscal governance, revenue transformation, and economic growth facilitation.
These pillars encompass five dimensions and ten deliverables, focusing on simplifying tax laws, harmonising revenue collection, and enhancing the efficiency of public spending.
Essentially, the key components of the tax and fiscal reforms included four major tax reform bills which have now been passed by the National Assembly and awaiting the president’s assent to become law.
The bills include: the Nigeria Tax Administration Bill 2024; Nigeria Revenue Service (Establishment) Bill 2024; Joint Revenue Board (Establishment) Bill 2024, and the Nigeria Tax Bill 2024.
The proposed legislations aimed to simplify and modernise the country’s tax system, making it more efficient and transparent.
Among others, the reform proposed ValueAdded Tax (VAT) adjustment, increasing the VAT rate from 7.5 per cent to 12.5 per cent by 2026.
Also, to mitigate the impact on low-income households, essential items such as food and medicine, which constitute a significant portion of household spending, are exempted from VAT. This measure is expected to help reduce inflation from 34.8 per cent to 15 per cent.
Under the new tax regime, small businesses with annual earnings below N50 million are exempted from corporate income tax.
The corporate income tax rate for larger companies is set to decrease from 27.5 per cent in 2025 to 25 per cent by 2026, with the objective to encourage business growth and investment.
Tinubu also signed several executive orders to ease the tax burden on businesses and individuals.
These included the suspension of the 5 per cent excise tax on telecommunications services, suspension of the Green Tax on single-use plastics and certain vehicle imports and the postponement of the effective dates for certain tax changes to provide adequate notice to taxpayers among other aspects of the reforms.
Established in 2023 with an initial allocation of N100 billion, the National Agricultural Development Fund (NADF) represents a central component of Tinubu’s agricultural and economic reform agenda.
The NADF was created to address longstanding financing challenges in the country’s agricultural
sector and to drive sustainable food security and rural development.
The fund serves as Nigeria’s primary vehicle for agricultural financing and modernisation, and provides consistent funding across the entire agricultural value chain. The initiative focuses inputs and implements, supplying seeds, fertilisers, and mechanised tools.
It also invests in irrigation systems, rural roads, and storage facilities and offers rapid support during agricultural crises, such as disease outbreaks.
The NADF is also involved in funding agricultural research and promoting technology adoption. To boost the country’s mechanisation drive, the president mandated the NADF to lead the deployment of 10,000 John Deere tractors over five years, starting with 2,000 units in 2025. This initiative aims to boost productivity, create jobs, and modernise farming practices.
The NADF also provided swift intervention during the 2024 ginger blight epidemic in Kaduna State, which devastated approximately 10,000 hectares of farmland. The Fund’s rapid response helped stabilise the ginger value chain and support affected farmers.
To realise the food security mandate of the federal government, and combat rising food prices, the NADF facilitated the release of 42,000 metric tonnes of grains, including sorghum, millet, maize, and 60,000 metric tonnes of rice, to vulnerable populations, thereby stabilising food supply and prices.
The NADF is collaborating with agencies such as the National Information Technology Development Agency (NITDA) to integrate advanced technologies such as drones, Internet of Things (IoT), and blockchain into agricultural practices, enhancing efficiency and productivity.
Since taking office in 2023, the president has implemented significant reforms within the Nigeria Customs Service (NCS) to enhance trade facilitation, boost revenue generation, and strengthen border security.
In 2023, Tinubu signed the Nigeria Customs Service Act into law, replacing outdated regulations and providing a modern legal framework for customs operations.
The revised Act aimed to improve efficiency, transparency, and accountability within the NCS, and aligns customs practices with international standards, facilitating smoother trade relations.
Also, in June 2023, recognising the need for competent leadership, Tinubu appointed Bashir Adewale Adeniyi as the Comptroller-General of Customs.
Adeniyi, a seasoned customs officer with over 30 years of experience, was tasked with driving the modernisation and reform agenda of the NCS. His appointment marked a shift towards professionalising the service and enhancing its operational capabilities.
Under the new leadership, the NCS has undertaken significant modernisation efforts, including the adoption of advanced technologies for customs operations to streamline processes, reduce corruption, and improve service delivery.
The reforms have been acknowledged for boosting the operational effectiveness of the NCS and enhancing revenues for the country. The reforms implemented by customs have resulted in improved revenue collection by the service, contributing significantly to the nation’s economy.
As recently disclosed by Adeniyi, the NCS recorded an unprecedented N1.3 trillion revenue in the first quarter of 2025, representing over 100 per cent increase from the N600 billion it collected during the same period in 2023.
In July 2024, Tinubu unveiled a N2 trillion accelerated Economic Stabilisation and Advancement Programme targeting the revival of the economy in record six months without any hint on the source of funding.
The measures under the Economic Stabilisation Programme are as follows: Energy security, agriculture and food security, health and social welfare.
Perhaps, the only visible stabilisation fund since the president unveiled the programme is that of the Ministry of Finance Incorporated (MOFI), a private sector-financed, phased N1 trillion real estate development fund named MOFI Real Estate Investment Fund (MREIF).
The Minister of Humanitarian Affairs and Poverty Reduction, Prof. Nentawe Yilwatda revealed that 6 million Nigerians benefited from the federal government’s Conditional
Cash Transfer (CCT) programme within the past six months.
According to the minister, only 2 million Nigerians had benefited from the CCT programme over the previous nine years but explained that the ministry has since adopted a new, more efficient approach.
According to him, the president has directed that these funds be disbursed to beneficiaries within nine months. Although the ministry said it engaged the World Bank to independently verify CCT’s beneficiaries, the problem of credibility still dogs the programme.
Over the years, many have doubted the methodology adopted in determining the beneficiaries as well as the veracity of the claims by the disbursement body. The supervising ministry itself had been enmeshed in several less-than-ennobling scandals bordering on corruption by successive leaderships.
IMF Loan Repayment
Both the International Monetary Fund (IMF) and the federal government recently confirmed Nigeria’s full repayment of the $3.4 billion emergency loan it secured from the multilateral lender at the peak of the COVID-19 pandemic.
Although Tinubu’s leadership of the Economic Community of West African States (ECOWAS) has seen notable ambitions, there have been significant challenges and missteps, including the belief that he mishandled the coups in Niger, Mali, and Burkina Faso.
In a knee-jerk response, ECOWAS under Tinubu imposed strict sanctions and threatened military intervention after the 2023 coup in Niger. This hardline stance backfired, failing to deter the military junta and leading to a backlash within West Africa and beyond.
In January 2025, Niger, Mali, and Burkina Faso officially withdrew from ECOWAS, accusing the bloc of undermining their sovereignty and aligning too closely with Western interests. This marked a major blow to regional unity and was widely viewed as a failure of ECOWAS diplomacy.
Critics argue that Tinubu overestimated ECOWAS’s leverage and underestimated the depth of local support for the juntas, especially amid anti-French and anti-Western sentiment. But the misfires aside, Tinubu has championed the creation of an ECOWAS standby force to tackle coups and terrorism, even though progress has been sluggish due to funding issues, lack of member consensus, and limited operational capacity.
On the positive note, Tinubu has consistently emphasised the importance of democratic values within the region. He has urged ECOWAS member states to draw inspiration from Ghana’s democratic practices, highlighting the need for transparent governance and robust institutions.
The Ridiculous
Despite his modest strides in the last two years, Tinubu’s tenure has seen several decisions that critics have labeled as questionable or even “ridiculous,” especially considering their timing, execution, and public impact.
This is, perhaps, not as much about the reported allocation of N21 billion for the renovation of the Vice President’s residence, as it is the purchase of a multi-million dollar new presidential aircraft, when the nation is dealing with massive poverty and galloping inflation.
But the naming of public infrastructure such as technology innovation centre, a military barracks
and an airport after the president while he is still in office has drawn significant public criticism and has been widely described as excessive, self-congratulatory, vainglorious and politically tone-deaf.
Critics argue that it is highly inappropriate for a sitting president to permit or authorise national landmarks to be named after himself, especially while his administration is ongoing and subject to public evaluation. They contend that such honours are typically reserved for leaders who have completed their terms and whose legacies can be objectively assessed. Naming critical national assets prematurely is viewed as an attempt to institutionalise a cult of personality, echoing
undemocratic tendencies that many Nigerians hoped were in the past.
Besides, the naming of a newly constructed army barracks in Asokoro, Abuja, after Tinubu, bringing the number of institutions named after him to five since he assumed office in May 2023, is seen as a moral issue even though no known law has been breached.
The Barracks, inaugurated on January 23, 2025, came shortly after the federal government approved the establishment of the Bola Ahmed Tinubu Polytechnic, Gwarinpa, in Abuja. The trend continued when the Niger State Government in March 2024 renamed the Abubakar Imam International Airport in Minna as Bola Ahmed Tinubu International Airport, sparking outrage.
In May 2024, the National Assembly Library and Resource Centre was inaugurated and named the Bola Tinubu Building, while in December 2024, the Nigeria Immigration Service named its state-of-the-art technology complex after the president Tinubu.
Besides, there is also a proposed Bola Ahmed Tinubu Federal University of Nigerian Languages in Aba, Abia State. A bill for its establishment was introduced in the House of Representatives in October 2024.
These moves have been viewed by many as premature, self-serving, and emblematic of a political culture that often prioritises and appeal to personal vanity over institutional legacy.
By Abdul samad Rabiu
As Nigeria marks two years under the leadership of President Bola Ahmed Tinubu, I believe it is important to reflect, not from the lens of politics, but from the perspective of business, of industry, and of the economy. I speak not only as the Chairman of BUA Group - one of Africa’s largest conglomerates, but also as someone who has lived through the complexity of Nigeria’s reforms. I have seen the cost of dysfunction, the burden of inefficiency, but more importantly, the promise of a level playing field and the dividends of decisive governance.
FUEL SUBSIDY REMOVAL
The removal of the fuel subsidy is one of the most important decisions taken by this administration. Before that, Nigeria was selling PMS at 200 or 250 Naira per litre, which was about 25 or 30 cents. I doubt there was any country in the world where fuel was being sold at that price. During my trip to Saudi Arabia for the lesser Hajj in February this year, I checked the pump price at one of the petrol stations as we drove from Jeddah to Mecca. When I converted the price to Naira, it was almost 1,500 Naira per litre. That was Saudi Arabia.
We could simply not afford the subsidy. It was not just Nigerians who were benefiting from it. We were subsidising the entire region. I remember visiting Niger Republic a few years ago when President Bazoum honoured us. During dinner, he joked and said, “Thank you for the subsidy.” He said 100 percent of all PMS consumed in Niger was coming from Nigeria because it would cost them three times more to import. There was no incentive for them to bring in their own fuel or refine crude at their own refinery. This was the situation across the region.
Today, I understand that our fuel consumption has dropped by almost 40 to 50 percent. It is not because Nigerians are consuming less, but because neighbouring countries have stopped tapping into our subsidised fuel. The PMS is still cheaper in Nigeria, even at 800 or 900 Naira per litre, but the logistics no longer support easy access. Countries like Niger and Benin Republic still take fuel from Nigeria, but others have stopped.
The removal of subsidies was needed not only to save the economy but to ensure that Nigerians alone benefit from what is imported. Even if there must be subsidy, it should be for Nigerians only. The money saved is now being channelled to infrastructure, to better support for states, and to other developmental priorities. All the states are receiving more money now, and that has made a real difference.
I am of firm opinion that President Bola Ahmed Tinubu made the right decision, and he made it boldly. On the first day he took office, he did what everyone knew had to be done but no one dared to do. He acted immediately. Many criticised him, but he did the right thing, and it saved the country. Had we continued under that burden, only God knows where we would be today. I always say, Mr President is probably the only one who had the courage to take such hard and necessary decisions.
ON THE UNIFICATION OF THE FOREIGN EXCHANGE REGIME
The unification of the foreign exchange market is another critical reform. Before this, many of us in the business community spent most of our time chasing foreign exchange. I personally spent half of my time trying to get FX from the Central Bank of Nigeria. The CBN was the only source of official exchange, offering FX at around 500 Naira when the parallel market was 800 or 900. No business could survive outside the CBN structure. Every two weeks, we would go to Abuja to seek allocations. It was
exhausting and inefficient. You had to camp there for three or four days before Allocation Monday, waiting for the CBN to allocate dollars. Today, I have met the new CBN Governor, Mr Cardoso, only once in two years. The reason is simple: I do not need to go to Abuja now to get foreign exchange. The system is open. It is working.
This was also a bold move by President Tinubu. It was necessary, and he took that decision as well. We are very glad because today we can focus on our businesses. These reforms are saving the economy.
Under this administration, we have seen a return to fairness and stability in business. We no longer worry about arbitrary shutdowns or politically motivated disruptions. Let me give a real example. We started a new business in Port Harcourt four or five years ago under BUA Foods, operating at the Rivers Ports under a concession with the Nigerian Ports Authority. It was going very well. One day, we woke up to a letter stating that the concession had been revoked, the terminal shut down, and the lease agreement terminated. There was no prior warning, no issue, no conflict.
Later, we discovered that the Managing Director of NPA at the time decided to close the business simply because our operations were competing with those of her friend. She wanted to impress her friend. That was the only reason. Today, that kind of thing cannot happen. Nobody would dare take such an action under President Tinubu. You can wake up now without fear that your business has been shut down by an agency or politician.
That stability is critical. That Port Harcourt plant alone has seen over 500 million dollars in investment and has employed over 4,000 people. The confidence this government has brought is real, and it is helping us plan better.
I must also personally acknowledge former President Muhammadu Buhari. When our Port Harcourt plant was unfairly shut down, it was his intervention that saved it. I had the privilege of explaining the situation to him. He agreed it was wrong and acted. He said he would not permit injustice under his watch. That decision saved the business. But the reality is, I had access. What if I did not? That is the difference today. Now, nobody needs access to the President to be treated fairly. Everyone knows that if you do something wrong under President Tinubu, you may lose your job or even face prosecution and go to jail. That is why I can now spend more time focusing on the business and relaxing.
The President Tinubu reforms are creating a level playing field. Like I said previously, every business had to lobby the CBN for FX. If you did not, your business would collapse. Now, you do not need to go to Abuja. You just focus on your operations.
In infrastructure, the difference is also clear. Look at the Lagos-Calabar highway. Look at the Sokoto-Badagry road. Look at the Kwara projects we are executing under the tax credit scheme. Look at Kano-Kongolam. Look at the Okpella to Kogi State corridor. These projects are progressing because of the savings from subsidy removal and FX unification. With more revenue, Nigeria is building. These roads and others being built are critical because logistics have become a major challenge. Transporting goods from Lagos to the North is very expensive due to bad roads. Now, the President is addressing this. With better infrastructure, logistics will improve, and businesses will grow. These reforms have enabled long-term planning and serious investment.
Since President Tinubu took office, BUA Group has invested over one billion dollars in the Nigerian economy. We are expanding our food business, doubling our flour and pasta facilities in Port Harcourt and building another in Lagos. Demand is increasing. People are earning more. Confidence is returning. We have also completed the first POP plaster manufacturing plant in Nigeria which is now operating and are soon starting construction of a 30MW solar energy project in Sokoto State.
In the oil and gas sector, we are completing our LNG project in Ajaokuta, Kogi State. These investments are possible because of stability that has been brought about by President Tinubu’s reforms. We can plan now. The exchange rate has been fairly stable for almost a year. FX is accessible. Money is coming in from different sources, and investors are responding. If you want 200 million dollars a week for trade, you can get it without lobbying anyone at the Central Bank. These are the results of good policies.
When I met President Tinubu recently, he raised concerns about food prices. He wanted to know what BUA Foods was doing. I explained that his six-month tariff waiver had worked. It disrupted hoarding in the rice market. In Nigeria, the rice harvest is short and runs for about three months. Middlemen were buying paddy rice, hoarding it, and raising prices postharvest. This artificial scarcity drove prices to as high as 110,000 Naira per bag. The farmers did not benefit. Farmers just wanted to sell and move on yet some people were buying from them, hoarding it, and creating a food crises in the country.
The temporary waiver allowed rice to be brought in, and milled immediately. The hoarders were cut out. Prices began to drop. It was a short-term solution, but it worked. It showed foresight. I told the President it helped and that if the situation persists, further steps can be taken. But for now, it has made a difference.
President Tinubu’s Nigeria First policy has aligned well with our own belief in backward integration. Our cement business is almost entirely local. We mine our own limestone. We use Nigerian gas even though it is dollar-denominated. The only foreign element is the equipment, and even that benefits from government concessions for mining equipment which everyone else in the industry benefits. If we had to import cement today, prices would be over 15,000 Naira per bag. Nigeria does not have the port infrastructure to even handle the import volume. Producing locally has saved the economy and stabilised the sector.
We are doing more, and we will continue to do more. Nigeria has everything—population, arable land, resources, water, and now, strong leadership under President Tinubu. We believe in Nigeria because the fundamentals are now strong. My advice to all is to take a Bet on Nigeria. This is the place to be.
So for me, what has this administration done right? First, it removed the fuel subsidy which was the biggest economic scam in our history. Second, it unified the foreign exchange market and third, it restored stability, fairness, and confidence in the economy. These are the foundations of growth. Nigeria is full of potential. With the right leadership, which we now have, there is no limit to what we can achieve.
Samad Rabiu is the Founder and Chairman, BUA Group. Watch the full, exclusive interview on youtube - https://bit.ly/pbatbua
Edited by nseobonG okon-ekonG |
Nseobong Okon-Ekong and Iyke Bede report on pertinent concerns raised by operators in the gaming industry as the regulators addressed them
are
Following the consolidation of lottery regulatory authority under the Federation of State Gaming Regulators of Nigeria (FSGRN), a move set in motion by the Supreme Court’s landmark ruling on jurisdiction late last year, operators have expectedly been trying to get the required clarity on the way forward.
In response to their concerns, the Chief Executive Officer of the Lagos State Lotteries and Gaming Board, Bashir Are, who doubles as chairman of FSGRN, addressed pressing regulatory issues at the third edition of the ‘Compliance Training and Interactive Session’ facilitated by the Association of Nigerian Bookmakers, Lottery Operators Forum of Nigeria and Licensed Casino and Machine Operators Forum, featuring trainers from the Economic and Financial Crimes Commission’s Special Control Unit against Money Laundry (SCUML) and the Nigerian Financial Intelligence Unit (NFIU).
Top on the list of issues bothering the operators was withholding tax on winnings, which was initially paused for a period of three months between last January and March 31, after which internal deliberations and considerations further stalled its implementation. Are said he suggested a six-month period of cooling off after the
Supreme Court judgment, but the states were not ready to listen to anything beyond three months. Broadening the scope of the discourse, Are said tax issues go beyond gaming regulation while reporting on the example of Lagos, where he is meeting with officials of the state Internal Revenue Service (LIRS) to arrive at an agreeable framework. He said his agency has engaged a consultant to generate implementation guidelines. This approach, according to him, will address all the grey areas. He assured the operators nothing can be done without a mutually acceptable implementation guidelines. Making a strong argument against the withholding tax on winnings, Adewale Akande, Head of Legal and Compliance Department at KC Gaming Networks Ltd (Bet9ja), explained that its implementation would ultimately harm the states, noting that Ghana, the country from
section of participants at the training
which FSGRN adopted the model, has since scrapped the tax. His argument hinged largely on concerns around personal data, noting that the reporting template requires the unique Tax Identification Number (TIN) of punters—thereby breaching the privacy agreement between operator and punter. Furthermore, he argued that the tax on winnings may be counterproductive as it may urge punters to turn to black market platforms to maximise their winnings, a notion Are concurred with.
“If you win a jackpot, that may be understandable. There has to be a bar, say, between N5 million and N10 million. You can’t tax the winning of someone wins N50,000, for instance,” he stated.
Are went on to state that the issue of withholding tax remains on the burner, reassuring operators that the winning ticket alone should serve as the punter’s unique identifier. He further
implied that tax on winnings should only apply to payouts above a certain threshold.
So far, 10 out of the 24 states that teamed up in the legal battle against the defunct National Lottery Regulatory Commission (NLRC) have signed a treaty to become members of FSGRN. Are is positive that two-thirds of the states will sign up formally soon to enable the rollout of the body’s initiatives. He cited the example of the United States of America, which started a similar body with three states.
“Today, they are 47.” So far, FSGRN has advised operators to submit payment information of their licences issued by the NLRC, waiving all licence procurement from states until next year,” he said. “However, operators are mandated to pay gaming tax to state regulators.”
The story continues online on www.thisdaylive.com
The need to build a unified, scalable digital gaming ecosystem is one of the major overall goals targeted for the Gaming Tech Summit Africa slated for Nairobi, Kenya, between June 2 and 6.
As Africa’s digital economy accelerates, the risk of fragmentation across regulatory, linguistic and technological lines continues to grow. However, GTSA 2025 is set to challenge that narrative. The
As Nigeria’s gaming industry pivots from a centralized national model to a more diverse, state-led regulatory structure, the market is presenting fresh opportunities — and unique challenges — for international investors and platform providers.
The second Enugu Gaming Conference, scheduled for July 30–31 at the International Conference Centre, Enugu, offers a focused, high-value entry point into this rapidly growing ecosystem. Anchored on the theme ‘From Unification to Diversification: Shaping Nigeria’s Gaming Future’, this two-day event is designed for serious industry players seeking to expand, partner, and scale in Africa’s largest consumer market.
For global gaming solution providers — whether in iGaming platforms, sportsbook engines, lottery tech, payment systems, fraud prevention, or compliance tools — this is not just another conference. It is a strategic market access event at a time when new investment activity in Nigeria is accelerating.
With over 220 million people, a fast-growing middle class, and one of the youngest populations globally, Nigeria represents a high-growth opportunity for the global gaming industry. The surge in mobile connectivity, digital payments, and regulatory reforms across various states is unlocking new verticals — from sports betting and virtual games to lotteries and skill-based competitions. However, with regulatory authority now devolving
a gada
to the 36 individual states plus the Federal Capital Territory, entering the Nigerian market requires localized compliance, regional strategy, and in-market partnerships. This is where Enugu becomes pivotal.
The inaugural Enugu Gaming Conference in 2024 laid a solid foundation. It brought together over 500 stakeholders, including regulators from over a dozen Nigerian states, local operators, digital
firms, legal experts, and international brands such as GameTec Inc. (USA) and Evolution (UK).
Some of the key takeaways for international attendees included market intelligence, gained through a deep understanding of Nigeria’s decentralised gaming regulation and its implications for platform localisation.
Another is direct connections, allowing attendees to engage with vetted operators, state regulators, and local consultants — the people who matter in getting deals done. Additionally, visibility and traction were on offer. Solution providers demonstrated their platforms to a receptive audience and walked away with real leads and partnership opportunities.
Brand Positioning: Being among the first movers in a credible, regulator-supported gaming event built goodwill and brand capital.
For tech providers and investors alike, the message was clear: Nigeria is ready — and the ecosystem is actively looking for smart partners.
The 2025 edition is planned to offer bigger opportunities. Building on the success of its debut, the 2nd edition has been expanded in both scope and strategic focus. It is curated specifically to serve as a deal-making and policy-shaping platform for those serious about long-term value in Nigeria’s gaming space.
• Agada is a gaming consultant and event lead for the Enugu Gaming Conference 2025 The story continues online on www.thisdaylive.com
summit positions itself as the platform where Africa connects, not competes, in building a thriving tech and gaming ecosystem.
Organised by Velex Advisory, GTSA 2025 will bring together game developers, investors, regulators, telcos and fintech innovators from Western, Eastern, Northern and Southern Africa. The goal is to break down silos and aligned efforts towards a shared continent-wide digital opportunity.
“GTSA is more than a conference. It is a movement towards shaping a progressive, inclusive, well-regulated and balanced gaming ecosystem for the continent,” said David Moshi, Managing Partner at Velex Advisory.
At the heart of the summit is a bold effort to connect the dots across Africa’s diverse tech and gaming ecosystems, from mobile payment innovations in Kenya and West Africa to cloud infrastructure hubs in the south to emerging regulatory frameworks in both Anglophone and Francophone regions.
The summit will host regular roundtables and cross-market founder showcases, creating tangible opportunities for collaboration, scaling, and growth.
Africa’s gaming market, which is projected to exceed $2.5 billion, presents one of the continent’s most promising digital growth stories. However, stakeholders must begin working together, not in isolation, to realise that potential. This is the opportunity that GTSA 2025 offers.
Kayode Akinmade
TODAY, to the glory of Almighty God, the Ogun State Governor, Prince Dapo Abiodun (MFR, OON) is 65, and exactly six years in office as the fifth democratically elected Governor. The road has been rough but grace has made the difference, so let the drums release great rhythms and let the music play on in praise of, the God of all creation the One who daily loads us with benefits. In all ramifications, Dapo Abiodun’s story exemplifies that of the proverbial man people said could not build a hut, but who has now built a giant edifice. A child of destiny born in 1960 when Nigeria obtained independence, and specifically on May 29, a day now set aside to mark freedom from military rule and signpost freedom and liberty, Dapo Abiodun is a change agent whose story is intertwined with Nigeria and Ogun State’s destiny.
He was elected in 2019, but that wasn’t the first time he had aspired to occupy the Oke Mosan Governor’s Office. In 2002, he and Chief Gbenga Daniel contested for the governorship ticket. He came second but 17 years later, the divinely appointed hour, which we know never ever fails, arrived. And now looking back at the last six years, there is a lot to be thankful for. The Gateway State, Nigeria’s industrial capital, is now Nigeria’s investment destination of choice as the Iperu-born prince daily attracts business from around the world, making the state a giant construction site. Instructively, a prime political organization like the Southern Governors Forum also found him worthy to lead it, and he has been speaking for it and the zone. He is also arguably one of the staunchest defenders of President Bola Tinubu’s policies, pointing to Nigeria’s freedom from IMF debt peonage. He is extremely passionate about his mission and vision, and the future of Ogun State.
As Prince Abiodun turns 65, the land is basking in the transformations that have taken place. Ogun people, as the world saw during the Opening Ceremony of the ongoing National Sports Festival, can hold up their heads in pride, knowing that they have in Oke Mosan a man who truly cares, and who daily makes the state a business haven. As scholars of leadership have been keen to point out, great leaders lead by example, set clear vision and direction, communicate effectively, foster a positive culture, make informed decisions, enable others to grow, embrace change and innovation, and demonstrate emotional intelligence. Fully persuaded that leadership is problem solving, Dapo Abiodun has focused on social transformation in Ogun State. He recognizes that global change agents, including South Africa’s Nelson Mandela, who promoted racial reconciliation and national unity and addressed poverty, inequality, and social injustice, and China’s Deng Xiaoping, who introduced market-oriented economic reforms, opening up the country to foreign investment and trade, did not achieve landmarks attending to demented opposition figures.
He looks up to people like Franklin D. Roosevelt who, while confronted with the Great Depression, implemented the New Deal covering social security, unemployment insurance, and Japan’s Shinzo Abe, who achieved women’s empowerment and labour market reforms; not forgetting, above all, our own Chief Obafemi Awolowo, who led an educational and healthcare revolution, promoted economic growth through investments in infrastructure, agriculture, and industry, and championed social justice. He is strictly focused on the people’s mandate. After all, as John C. Maxwell says, “Leadership is not about titles, positions, or
flowcharts. It is about one life influencing another.”
The Ogun State helmsman did not win the 2021 Best State Governor with the Most Improved State in Security Infrastructure (Business Day Newspaper), 2020 Best Governor in Agriculture (Nigerian Agriculture Awards), 2022 Best Governor in Infrastructure in the South-West (Nigeria Union of Journalists), the 2022 Forbes Award as the Best of Africa Governor in Industrial Revolution, or the 2023 Best Governor in Housing Delivery (Nigerian Housing Award) toying with the Ogun people’s mandate. He priotitises critical thinking and self-discovery, and is a compassionate leader who epitomizes the Greek philosopher Socrates’ submission that “He who wishes to serve as a leader must, first of all, understand the souls of his followers.”
Before him there was no Gateway International Airport and the Olokola Free Trade Zone was dead. But the music has changed. With over 1,200 kilometers of road spread across the state, Dapo Abiodun has shown that he means business. Go to the Abeokuta-Sagamu Expressway; Obantoko Road (Fajol-American Junction-Unity Estate-Gbonagun); Idi-Aba-EliteOke Lantoro; Ikoritameje-Adenrele (Olose Titun Vespa); Panseke-Adigbe; City Gate Monument Development Flyover Bridge, Kuto; Arepo road, Somorin-Kemta-Idi Aba; Olusegun Osoba-Toyin Agbado, Yakoyo Bridge to Mr. Biggs section along Akute; Owode-Siun.There are also the OruAwa-Ilaporu-Ibadan expressway; Molipa-Asafa Isale-Ayegu-Ojofa; Asafa Oke-Fusigboye-Ojofa Street; Oba Erinwole road, Sagamu; Awujale road, Ejinrin-Idowa-Awa-Ibefun-Itoikin; Ijebu Ode-Epe-Sagamu-Benin Interchange Flyover Bridge; Esure-Ijebu Mushin road; Ogbagba Street, Ijebu Ode; Molusi College road, Ijebu Igbo; Ilishan Market road; Iperu Roundabout-Ode; and the Sagamu Junction-Iperu Roundabout. Go to
Ibooro-Imasayi-Igan Okoto-Ayetoro road (Phase 1) in Yewa North, Ikola-Navy-Osi Ikola; Raypower; Joju, Sango; Ilashe-Koko-Alari; Oke Ola, Imeko; Tollgate-Singer GRA, Ota; Ilaro-Iwoye (Phase 1); Iwoye-Owode Yewa Secondary School road, (Phase2); Owode Yewa Secondary School-Owode Yewa Junction road (Phase 3), and see wonders. But here’s the big story: there’s far more to come.
There is no space to talk about the N50 million Ijebu Development Initiative for Poverty Reduction (Eriwe) introduced to develop the fish subsector and the empowerment of over 40,000 agripreneurs in cassava cultivation, or the distribution of motorcycles to extension agents to reach farmers in remote areas; the 20,000-hectare rice farmland in Yewa; the Ogun State Teaching Experience Acquisition Channel (Ogun TREACH) that brought on board 5000 interns, with 1000 transitioned to permanent teachers; the over N3.5 billion disbursed through EDUCASH to assist students and their parents, with 150, 000 students benefitting the full accreditation secured for the first time in 45 years and the upgrade of the Ogun State Schools of Nursing and Midwifery to collegiate status; the inaugurated Sexual Therapy and Assaults Referral Centre in Olabisi Onabanjo University Teaching Hospital (OOUTH); the Family Planning Centre at the State Hospital, Ijebu-Ode; or the Ogun Free Surgical Intervention Programme that has benefited more than 2000 people since its launch.
Hear Governor Abiodun, speaking when officials of the Foreign Investment Network (FIN), a United Kingdom-based investment scout that drives Foreign Direct Investment (FDI) for Africa and other developing economies, gave Ogun State a massive thumbs-up for the FDI attracted so far: “We have built the best-equipped airport in Nigeria, and this airport is centrally located. We have adopted a multimodal transport system that incorporates air, road, sea, and rail lines. We are
extending a rail line that stopped at Agbado to Ogun State.” The investment portfolios are many: the April 2022 $400m investment by a foreign firm, Arise Integrated Industrial Platform, on the development of Olokola Free Trade Zone and Remo Agro Processing Zone; the over $500 investment by a steel conglomerate, African Industries Group; the Canadian Government’s pledged investment in the agricultural and technological sectors of the Ogun economy in May 2023 and the July 2024 South Africa-Nigeria Business Chamber’s pledged aggressive investment drive for Ogun State; the $500 million investment by the Japanese International Cooperation Agency (JICA) to enhance power infrastructure in Ogun State; the $300 million investment by the Chinese company, Inner Galaxy Steel Company Ltd, to establish a new steel plant for the production of specialised steel products in Ogun State; the October 2024 establishment of a $5 million battery recycling plant by a British company; the investment by Codix Bio Pharmaceutical Company, a pharmaceutical outfit that specializes in the production of medication kits for the treatment of diabetes, hypertension and heart-related diseases; the $400 million hot rolled coiled steel factory in Ewekoro; the Special Agro-Cargo Processing Zone created by President Tinubu to serve the airport as a Free Trade Zone (FTZ), located very close to airport, etc. Posterity will never forget Prince Abiodun: he has written his name in history and it will outlive him. The silent achiever and peace and conflict resolution advocate who has led Ogun State on the path of peace for the last six years and contributed to inter and intraparty stability deserves plaudits. May the Almighty God continues to bless and keep him in the years to come. Happy Birthday to the People’s Governor.
•Akinmade is Special Adviser, Information and Strategy to Ogun State Government.
President Bola Tinubu has felicitated Governor Dapo Abiodun of Ogun State and Chairman of the Southern Governors’ Forum, on his 65th birthday and 6th anniversary of his administration on May 29.
In a tribute issued yesterday, the President commended Governor Abiodun’s exemplary leadership in Ogun State and described his six-year tenure as a model of progress, defined by remarkable strides in infrastructure, education, youth empowerment, agriculture, food security, and social development.
a state with steadily growing internal revenue.
President Tinubu noted that through transparent and inclusive governance, Ogun State, under Abiodun’s watch, has emerged as a beacon of stability and innovation, a leading destination for investment, and
“Your unwavering commitment to public service and the advancement of our great nation remains a pillar of strength in our collective pursuit of national renewal and prosperity,” the President said
in his tribute.
President Tinubu also praised Governor Abiodun’s impactful leadership at the regional level through his chairmanship of the Southern Governors’ Forum, highlighting his contributions to fostering unity, dialogue, and regional development.
“As you mark this dual milestone, I join your family, associates, and the good people of Ogun State in honouring your achievements and legacy of service. May the years ahead bring continued health, joy, and enduring peace,” the President further stated.
Acting Group Politics Editor DEJI ELUMOYE
Email: deji.elumoye@thisdaylive.com
08033025611 sms only
Today marks the second anniversary of asiwaju Bola Tinubu as President of the Federal Republic of Nigeria. In this report, Deji Elumoye assesses the mid-term scorecard of the Renewed Hope agenda of the President.
President Bola Tinubu assumed office on May 29, 2023 after taking the oath of office at the Eagle Square, Abuja. While campaigning for the nation’s number one seat, he had boasted that he had what it takes to turn the nation’s fortune around for the better.
His campaign manifesto evolved around the Renewed Hope Agenda which he laid bare before Nigerians wherever he went as campaign intensified ahead of the 2023 general election.
The President’s Renewed Hope Agenda is a transformative policy thrust aimed at repositioning Nigeria as a prime global investment destination. It focuses on four core pillars vis Democracy: Promoting democratic values and good governance; Development: Driving economic growth and development through strategic partnerships and investments; Demographics: Harnessing Nigeria’s demographic potential to drive economic growth;
Diaspora Engagement: Engaging with the Nigerian diaspora community to foster economic development and partnerships.
Two years on, the President’s scorecard include big reforms and successes in the Security Sector. This much was alluded to by the National Security Adviser (NSA), Mallam Nuhu Ribadu, who at a recent function in Abuja disclosed that over 13,543 terrorists and other criminal elements have been neutralised across Nigeria in the last two years.
The NSA said the military and intelligence agencies had made gains in ongoing counter-terrorism efforts, noting that 13,543 insurgents and criminals were
killed during various operations nationwide over the past two years of President Bola Tinubu in office.
Ribadu also said that no fewer than 124,408 fighters of Boko Haram and its offshoot, the Islamic State in West Africa Province, along with their family members, have surrendered to Nigerian forces and are undergoing rehabilitation through the government’s de-radicalisation and reintegration programme.
His words: “We have so far recovered and destroyed 252,596 rounds of assorted ammunition. Our troops have neutralised 13,543 terrorists.”
Ribadu’s disclosure came amid Nigeria’s ongoing battle with insurgents, bandits, and separatist groups across multiple theatres of violence, from the Boko Haram insurgency in the Northeast to banditry in the Northwest and North Central, and criminal violence in
the South.
The insurgency in the Northeast, which began in 2009, has led to the deaths of over 350,000 people—both directly and indirectly—according to United Nations estimates, and displaced over two million.
Despite repeated claims of degrading Boko Haram, security agencies continue to grapple with attacks, ambushes and bombings, particularly in Borno and Yobe states.
The past two months have seen a resurgence of violence, including the killing of locals in Plateau, Benue and Borno states.
The NSA also attributed the improved security situation to enhanced inter-agency collaboration, increased investment in intelligence gathering, and political will.
In the economic sector, President Tinubu on his first day in office announced the immediate removal of fuel subsidy which had since saved billions of Naira into government coffers. Although the move brought untold hardship to the
overall, President Tinubu’s mid-term scorecard has shown both progress and challenges. The administration has made notable progress in implementing its agenda and engaging with international partners. While it has made notable strides in security, however, the nation’s security architecture may require rejigging moreso with recurring security skirmishes in some states like Benue, Zamfara and Borno.
citizenry, government at the centre took some steps including increase in salaries of civil servants to assuage the pains of the subsidy removal.
Other economic reforms of the Tinubu Presidency include significant tax reforms aimed at widening the tax base and improving compliance. Although there were initial objections by the public to the four tax reform bills sent to the National Assembly by the Executive, stakeholders including governors, traditional rulers were made to see reason why the tax reform bills are necessary. The four bills had since been passed by the two chambers of the National Assembly while the President is waiting for the bills to be forwarded to him for presidential assent.
Also under the period under review, the government under its foreign policy adopted the “4Ds” approach namely Democracy, Development, Demography, and Diaspora. The foreign policy indicator also include increased engagement with the diaspora through initiatives like the Diaspora Mortgage Scheme and $10 billion Diaspora Fund as well as Nigeria’s leadership role in ECOWAS, particularly in addressing regional security challenges.
Overall, President Tinubu’s mid-term scorecard has shown both progress and challenges. The administration has made notable progress in implementing its agenda and engaging with international partners. While it has made notable strides in security, however, the nation’s security architecture may require rejigging moreso with recurring security skirmishes in some states like Benue,
and
Bennett Oghifo
The Nigerian Institute of Quantity Surveyors (NIQS) has said it desires to establish a strategic relationship with Heirs Holdings that is forward-looking, innovative, and mutually beneficial and has proposed a framework of collaboration in several key areas.
The President of NIQS, Kene C Nzekwe, FNIQS, made the proposal during a courtesy visit to the Chairman of Heirs Holdings, Mr. Tony Elumelu, CFR, and the executive management of Heirs Holdings, on behalf of the Council and the entire membership of the Institute.
QS Nzekwe said, “We believe that by aligning our professional expertise with the scope and ambition of your organisation, we can jointly deepen the impact of infrastructure and project development efforts across your businesses.
“First, we believe that Heirs Holdings is uniquely positioned to provide thought leadership and strategic advisory support to the Institute. Your wealth of insight into market dynamics,
operational challenges, and emerging trends can significantly enrich our standard setting, professional certification, and research agenda, ensuring our outputs are practical and globally competitive. Furthermore, we see great potential for innovation-based collaboration.
“As NIQS develops new tools and frameworks to improve cost management in the construction and infrastructure sectors, such as our national cost databank for project benchmarking, we would be honoured to engage Heirs Holdings as an early partner in testing and refining these instruments. This would allow your organisation to shape industry standards while benefiting from first-mover access to advanced tools for improved project planning and execution. In the area of talent development, we envision a partnership that supports the upskilling of your personnel—particularly those involved in project delivery, infrastructure planning, and real estate investment. NIQS through our QS Academy is well positioned to design and deliver bespoke, industry-
aligned training and certification programmes that will further enhance internal capacity and drive efficiencies within your operations.
“We also see an opportunity for your organisation to serve as a benchmark reference for the application of best practices in cost control and project performance. Through collaborative research and shared case studies, Heirs Holdings could help set national standards in cost efficiency, transparency, and performance tracking, reinforcing your role as a leader in corporate governance and operational excellence. Finally, we invite Heirs Holdings to collaborate with us in advancing public-private dialogue around infrastructure development, procurement reform, and professional best practices. Your voice and platform would be invaluable in driving systemic change and shaping national policy conversations. We would be delighted to have your support for NIQS events, conferences, and strategic roundtables that promote knowledge exchange and institutional growth.”
He said they are confident that this partnership would not only contribute meaningfully to the goals of the Institute, but would also create significant value for Heirs Holdings— through improved project delivery outcomes, strengthened internal capabilities, enhanced visibility in policy-shaping spaces, and a role in shaping the future of infrastructure development in Nigeria.
He lauded Mr. Elumelu “for the exemplary leadership you
continue to provide across key sectors of the Nigerian and African economy. Your visionary investments and interventions in banking, hospitality, real estate, insurance, healthcare, and energy represent a profound commitment to economic transformation, social impact, and business excellence.”
Accepting the partnership invitation, the Group CEO of Heirs Holding, Mr. Emmanuel Nnorom thanked NIQS “for considering us as a partner,
and I’m sure you won’t be disappointed.”
About HEIRS Holdings, Nnorom said, “Actually the word HEIRS is a acronym of the chairman’s values, H for humility, E for empathy, I for integrity, and R for resilience, and S for synergy. So over the years, that’s what he’s known for. So he now brought all of that together.”
The MD Afriland Properties Plc., Mr Azubuike Emodi was at the meeting.
Samu Ekhator and Okoh Gloria
That search led to a deeper realisation — access to flexible, affordable, and secure spaces is a challenge not just for business owners, but for everyday people.
Whether it’s someone launching a new venture, a
For over two years, Amb. Temitayo Ogunrinde (Founder, Flex Spacez Ltd) explored one critical question: How can we reduce operational costs for small businesses and startups in Nigeria, especially when rent remains one of their biggest burdens?
freelancer needing a quiet spot to work, or a creative planning a shoot, finding the right space in Nigeria often feels more difficult than it should be.
During this period, a friend of Temitayo, who was visiting Nigeria from the UK, needed a short-let apartment in Lagos. The request was simple enough: a clean, cosy space for a few days.
But what followed was a frustrating maze of unreliable listings, endless back-and-forth calls, inflated prices, and spaces that didn’t match expectations. That moment didn’t just frustrate; it confirmed what Ogunrinde had seen over and over again. In Nigeria, accessing the right space whether for business or short stays, is needlessly hard.
That experience, coupled with a lack of structured, tech-driven rental solutions, inspired the birth of FlexSpacez, a digital platform designed to simplify short-term renting across Nigeria. The platform brings
together years of research, real-life experience, and a single, clear mission: to make space more accessible, more flexible, and more secure for everyone.
With FlexSpacez, individuals and businesses can now discover and book spaces for days or weeks, without the usual agent drama, hidden fees, or long-term commitments that have traditionally weighed down the process. From side hustlers and freelancers to travelling professionals and growing startups, the platform caters to Nigeria’s increasingly mobile and agile economy.
Some of the space types available on FlexSpacez include:
• Private offices and coworking hubs for meetings or remote work.
• Studios for photography, videography, and content creation.
• Short-term (or short-let) apartments and cosy stays for business travellers and guests.
• Event venues for workshops, seminars, and social
gatherings.
• Pop-up retail booths for test sales, exhibitions, or product launches.
Hosts are verified using national ID tools like NIN and BVN, and every space listed is reviewed for quality and safety. Renters benefit from transparent, upfront pricing; no surprises. And for property owners, FlexSpacez offers peace of mind with Flexsafe coverage, allowing them to monetise idle spaces confidently and safely.
But beyond accessibility and ease, FlexSpacez is on a bigger mission to unlock opportunity through access. The goal is to connect the dots between underutilised spaces and unmet demand, empowering space owners to earn more while enabling people to do more.
“We’re not just solving a real estate problem,” Temitayo explains. “We’re removing barriers, giving everyday Nigerians the room they need to work, grow, create, and live on their own terms.”
As Nigeria’s creative, tech, and small business scenes continue to expand, so does the need for infrastructure that supports flexibility. Today, more people are building businesses from laptops, managing teams from home, and selling products without owning a storefront. The idea of renting a permanent space just doesn’t make sense for everyone, and that’s what FlexSpacez is fixing. It’s not just a platform. It’s a system built to match how people actually live,work, and build in today’s world: fast-paced, mobile, and on-demand.
Whether you’re launching a new brand in Abuja, hosting a training session in Port Harcourt, visiting Lagos for work, or simply need a temporary space that works in Benin City, FlexSpacez gives you the power to do it, stress-free. Join the flexible rental revolution. Visit www.flexspacez.com or follow FlexSpacez on social media for updates, news, and launch announcements.
Bennett Oghifo
The Lagos State Government has announced a major progress in modernising land administration and urban development through its Enterprise Geographic Information Service (e-GIS), a project led by the Lagos Geographic Information Service (LAGIS). This was disclosed by the Special Adviser, e-GIS and Urban Development, Dr. Olajide Babatunde during the Ministerial Press Briefing of the Offices of e-GIS and Urban Development at the Bagauda Kaltho Press Centre, Alausa, Ikeja on Monday.
The Special Adviser said that the strategic initiative, designed to revolutionise land administration, urban planning, and geospatial data management across the State, was transforming how land records, planning data, and geospatial information were collected, processed, and used across the State.
He said that since the inception of the project in 2016, and the formal establishment of the Lagos e-GIS Office in 2021, the initiative had consistently delivered on its core mandate of building a comprehensive, computerised spatial data
infrastructure to support a greater, smarter Lagos.
He said that the strategic goal of the e-GIS Office was automating and integrating digitization efforts across key agencies such as the Lands Bureau, Physical Planning, Land Use Charge, and Office of the State SurveyorGeneral, and coordinating a state-wide mapping and survey project in collaboration with the Surveyor-General’s office, while establishing Spatial Data Infrastructure (SDI) and deploying UAV drones, RTK systems, and cadastral software for precise land mapping and
data collection.
He added that the Office was also responsible for driving capacity building in Geographic Information Systems (GIS) for Lagos State Civil Service personnel, and providing consultancy and integration support for Ministries, Departments, and Agencies (MDAs), leveraging GIS technologies.
In addition, he said that Lagos e-GIS Office has successfully Launched the Automated Land Administration Portal, simplifying and digitizing land transactions.”As part of the reforms, the State launched the
Aumentum Land Administration Portal, now the official platform for all land-related transactions.
This digital system ensures simplified, faster service delivery, improved transparency, and easier access for residents and investors while we have also developed and operationalised the e-GIS portal connecting spatial data from various MDAs and completed a state-wide digital mapping project with orthophoto maps and LiDAR technology to create an accurate and comprehensive cadastral map of Lagos,” he said. To support this effort,
over 150 GIS toolsets were distributed to key agencies such as the Lands Bureau and the Office of the State Surveyor General,” he said. Babatunde said that to bring services closer to citizens, the government opened its first regional e-GIS outlet in Ikeja, with more centres planned across the five IBILE divisions while other achievements include the development of a central data portal, creation of GIS units in MDAs, launch of a drone service, and rollout of tools like Capture Lagos software and the Merlin billing platform.
Emma Okonji
The International Telecommunication Union (ITU), a specialised agency of the United Nations that oversees global telecommunications operations, has reiterated its commitment to connect the unconnected 2.6 billion people that have remained offline in rural and low-income communities globally.
The agency said this while celebrating its 160 years of empowering humanity with emerging technologies.
Every year on 17 May, ITU marks a rich history of collaboration in the fast-paced field of technology, from the telegraph to quantum computing.
ITU was founded back in 1865 to standardise international telegraph
exchanges across Europe. It grew rapidly, expanded its mandate to coordinate radio and telephone communications, and in 1947 became a specialised agency of the United Nations.
“But even today, as digital and space-based services surge, the organisation remains true to its core mandate: fostering global cooperation to bring the benefits of communication technologies to all the people of the world,” the agency said in its anniversary statement.
According to ITU, “Despite robust progress, about 2.6 billion people remain offline worldwide, primarily in rural and low-income areas. ITU’s initiatives aim to bridge this digital divide and ensure technologies reach everyone.”
In marking this year’s anniversary,
ITU Secretary-General, Doreen Bogdan-Martin, said: “Ours is a story of connection, of making digital experiences meaningful, safe and beneficial for everyone, everywhere. But our mission is far from complete with one-third of humanity offline. They are at risk of being left behind, especially when technologies like Artificial Intelligence (AI) are transforming the world.”
She added: “As ITU observes its 160th anniversary in 2025, we are seizing this moment to shape a better digital future for all, especially the unconnected. During this anniversary year, we will be engaging with all stakeholders on how to connect the unconnected, fast-track sustainable digital development, and empower people to use digital technologies to drive meaningful change.”
According to her, the agency has benefitted the world through its works in the areas of internet backbone and connectivity, mobile devices development, satellite services for connectivity, among others.
“Interconnected networks that are built to ITU standards facilitate communication, information, sharing and access to knowledge and services. Today, an estimated 68 per cent of people are internet users, even though disparities exit as estimated 84 per cent of people in high-income countries are covered by 5G network, while only about four per cent of people in low-income countries is connected to 5G network.
“Again, mobile phones, laptops and other devices have changed how people purchase, study, socialise and work. More than 95 per cent
of people over 10 years old own mobile phones in high-income economies, compared to 56 per cent in low-income economies.
As mobile telephony rapidly expands, ITU will continue to support developing countries in upgrading their networks, integrating new technologies and expanding to un-served and underserved communities,” BogdanMartin said
According to ITU, global connectivity depends increasingly on satellite networks, which can reach the remotest corners of the earth.
ITU’s Radio Regulations treaty, along with coordinating terrestrial radio services, ensures satellite systems operate without interference. The work of ITU also ensures spacecraft, whether
or not they carry a human crew, can communicate reliably. A Swiss astronaut with the European Space Agency, Claude Nicollier, who was a mission specialist on the US space shuttle Atlantis in 1992, said: “Being connected to the earth via satellite in the geostationary orbit, will boost constant communication capability with mission control, and this is the magic of communication.”
ITU is currently working closely with governments, space agencies, the private sector, and key UN organisations to maintain the viability of space for future generations. The anniversary lightshow highlighted how ITU has brought together public and private stakeholders to ensure connections by land, sea, sky and space.
Emma Okonji
Although distributed denial of service (DDoS) attacks on Nigeria dropped significantly in Q3 and Q4 of 2024, Nigeria and Mali still have the highest DDoS attacks across West Africa, according to the latest Threat Intelligence Report released by NETSCOUT, a global provider of enterprise performance management, carrier service assurance, cybersecurity and DDoS protection solutions.
According to the Threat Intelligence Report, that covers July to December 2024, which delves into trends and methodologies used in attacks globally, Nigeria and Mali lead in West Africa’s DDoS threat landscape.
DDoS is a malicious cyberattack that aims to disrupt normal traffic of a targeted server, service or network
by overwhelming it with a flood of internet traffic from multiple compromised computer systems.
The report said Nigeria was exposed to 1,716 strikes, a significant drop from the 2,721 incidents seen in the first half of 2024. In contrast, Mali experienced a more than tenfold increase in 2H 2024, up from just 115 seen previously between January and June 2024 to 1,637 in the second half of the year.
Giving details about the DDoS attacks across West African countries, Regional Director for Africa at NETSCOUT, Bryan Hamman, said: “Web search portals and all other information services bore the brunt of attacks in Mali, with an astounding average duration of 1,197 minutes per incident. This was followed by wired telecommunications carriers, which was also the most targeted industry at a global level during
the same period, with more than 2,1 million incidents.
“In Nigeria, the most frequently targeted sectors included telecommunications resellers and computing infrastructure providers. Beauty salons also featured on the country’s top ten list, alongside wired telecommunications carriers, then commercial banking, used merchandise retailers, tyre dealers, and household electronics wholesalers. This shows once again how threat actors adapt their strategies accordingly within different countries to target those industries that are strong in individual sovereign territories.”
The report further explained that Nigeria experienced some of the region’s most complex DDoS campaigns, peaking at 22 distinct vendors used in a single attack, primarily TCP, Domain Name System
(DNS) amplification and Internet Control Message Protocol (ICMP) flood DDoS attacks, also known as Ping flood attacks.
The report also said Liberia emerged as the next most affected country, recording 1,189 DDoS attacks, down slightly from 1,515 incidents in the first half of the year.
Here, computer systems design services businesses were heavily targeted, suffering 360 attacks over the six-month period. The most frequently used attack vector was DNS amplification, with STUN amplification not far behind.
“In Ghana, DDoS activity dropped significantly in the second half of the year, falling to only 917 attacks versus 4,753 earlier in the year. Three of the top four types of businesses under fire this time were ICT-related, namely web search portals and information services (317), wired
telecommunications carriers (43) and computing infrastructure providers (4). Interestingly, footwear manufacturers ranked third, with 14 attacks over the second half of 2024,” the report said.
The Democratic Republic of the Congo made its debut in NETSCOUT’s regional rankings, landing in fifth place with 879 reported attacks, according to Hamman.
“While the most significant attack peaked at a modest 0.74 Gbps, the complexity was notable – with up to 15 vectors used in a single attack. Computing infrastructure providers were primarily affected, but a single incident aimed at a satellite telecommunications organisation lasted for a gruelling 689 minutes.
“By the same token, Cameroon may not have been the most
Market data a s at t uesday, May 28, 2025
targeted country, with 811 incidents, nor experienced the most sophisticated attacks, but statistics gathered show that the maximum bandwidth of its largest DDoS attack measured 200.43 Gbps – surpassing even Nigeria’s 148.77 Gbps,” the report added. The report also said Côte d’Ivoire, Guinea and the Republic of the Congo, all experienced lower attack frequencies, at 495, 341 and 329 incidents respectively. Of these three countries, Côte d’Ivoire faced the largest attack, at a bandwidth of 8.66 Gbps, with the primary target being on wired telecommunications carriers. Following the ICT trend, Guinea’s wireless telecommunications carriers faced the most pressure, while in the Republic of the Congo, telecommunications resellers were hardest hit, the report further said.
Eyitayo Salami
While the world debates the future of finance, millions of Nigerians await solutions that impact investing could deliver today, if only capital would flow where it’s needed most.
In a Lagos community health centre, a mother waits hours for basic care her child desperately needs. Across town, a renewable energy startup with proven technology struggles to secure expansion funding. These scenarios illustrate Nigeria’s paradox: abundant opportunities for transformative impact alongside a crippling shortage of investment capital.
Impact investing, deploying capital with the dual aim of financial returns and measurable social benefits, has evolved from a fringe concept to a mainstream strategy. By mid-2024, investors globally managed $1.57 trillion in impact-labelled assets, growing at 21 per cent CAGR since 2019. Yet Africa, home to 17 per cent of the world’s population, attracts only 1-1.5 per cent of that capital.
This disparity is stark in Nigeria, one of Africa’s largest economies. With social-development funding needs of about $10 billion annually to meet 2030 targets, Nigeria’s private impact capital pool remains below $5 billion. Even if current impact funds ($1.8 billion), DFI credit lines ($2 billion), and planned sovereign green bonds ($250 million) deliver as projected, they cover only a fraction of Nigeria’s needs.
In northern Nigeria’s agricultural heartland, smallholder farmers who feed millions remain trapped in poverty without financing that could triple their productivity. Meanwhile, in London and New York, impact investors struggle to find “investment-ready” Nigerian opportunities that meet their risk-return expectations—a disconnect between global capital and local needs.
The gap reflects more than capital shortages; it highlights a misalignment between imported impact models and local realities. Social Impact Bonds face complex outcome-payment administration and FX risks. Blended-finance catalytic funds often sideline local investors and favour dollar instruments.
“The challenge isn’t that global impact solutions don’t work in Africa,” says a Nigerian fund manager. “It’s that they often require adaptation to local contexts that many international investors are unwilling to undertake.”
Despite challenges, Nigeria is seeing promising local models. Agri-value-chain funds combining equity
with offtake guarantees have reduced default rates by 30 per cent. Pay-as-you-go solar finance solutions have reached 1.2 million households, with 80 per cent of funding now from local banks. Urban infrastructure PPPs like Lagos’ Blue Line Metro show how state resources can combine with private expertise to deliver essential services while generating returns.
The Lagos State Odo-Nla Affordable Housing Project exemplifies this. Governor Sanwo-Olu’s administration offered incentives, including 40 per cent permit rebates and tax benefits, while Access Bank structured sustainability-linked financing to deliver 704 affordable apartments. It shows how structured partnerships align profit motives with social outcomes.
Traditional corporate social responsibility in Nigeria, often limited to donations and photo opportunities, fails to match the scale of challenges. Nigerian businesses must shift from seeing social impact as a cost to seeing it
as an investment opportunity. Listed Nigerian corporates reported N4.1 trillion ($3.3 billion) in net profit for FY-2024. Reallocating just 5% of after-tax income into impact vehicles would triple Nigeria’s current impact-capital pool.
This shift offers tangible benefits: green and SDG bonds trade at spreads 35 basis points below comparable bonds and pay-go solar clients upgrade to data bundles within six months. The NGX’s Impact Board (launched July 2024) adds incentive through tax benefits on qualifying issues.
The most promising path lies in structured public-private partnerships enabling companies to move beyond CSR into measurable impact initiatives. A blueprint includes setting SDG-aligned outcome targets with quarterly measurement, blending capital sources using concessionary first-loss capital to attract pension fund investments, and transparent reporting via the NGX Impact Board.
For corporate leaders, three concrete steps can turn opportunity into action:
Budget: Ring-fence an “impact quota”, a set percentage of capital expenditure or profits, for investable social projects.
Partner: Co-design PPPs with state governments ready to provide first-loss cover, creating structures that de-risk investments while maintaining commercial discipline.
Measure: Insist on globally recognised SDG-aligned metrics and report publicly, establishing measurement systems that give investors confidence in both financial and social returns.
A major barrier is Nigeria’s weak measurement ecosystem. Few Nigerian corporates publish globally recognised SDG-aligned sustainability reports, creating an accountability gap. Nigeria loses an estimated $2.5 billion annually in potential impact capital due to this. When Dangote Cement adopted comprehensive sustainability reporting in 2022, it attracted $350 million in impact-labelled capital within 18 months; clear evidence that measurement drives investment.
Impact investing in Nigeria is no longer niche or a moral luxury; it’s the only realistic path to address the country’s huge development financing gap. With traditional aid flows stagnant and government resources constrained, mobilizing private capital for public good is now an economic and social imperative.
The math is compelling: if each major consumer brand committed just 1% of turnover to structured impact deals, over N300 billion ( $240 million) would be mobilized annually; enough to double every existing impact fund in the country.
For corporate Nigeria, this represents both opportunity and responsibility. Companies leading this transition will secure not just reputational benefits but real competitive advantages in talent, cost of capital, and market expansion. “Doing good” is no longer enough; it’s table stakes. Doing more than good means treating social outcomes as investable assets generating returns for shareholders, stakeholders, and society alike.
The defining question is whether business leaders have the vision to move beyond CSR toward investment-grade social solutions. Their response will determine not just the future of impact investing in Nigeria, but the country’s progress toward sustainable development in the years ahead.
• Eyitayo O. Salami, is a Transformation and Social Impact Thought Leader
Senior Director in charge of Europe, Middle East and Africa at inDrive, Ilya Gusakov, shares insight about the prospects of ridehailing industry in Nigeria, and the company’s operations in Africa and Middle East. Emma Okonji presents the excerpts:
inDrive operates with a unique peer-to-peer pricing model. How has this approach impacted the ride-hailing industry, especially in the EMEA region?
inDrive’s peer-to-peer pricing model has disrupted the traditional ride-hailing industry by giving both passengers and drivers greater control over pricing. This approach fosters transparency, allowing passengers to propose fares and drivers to accept, counter, or decline based on market conditions. In developing markets, where affordability and fair earnings are crucial, our model ensures flexibility in pricing, making mobility more accessible while helping drivers earn a fair wage. It also reduces reliance on fixed algorithmic pricing, which often lacks transparency and fairness.
What challenges and opportunities do you see for inDrive in highly competitive markets like Africa and the Middle East?
User acquisition and retention present significant challenges in competitive markets, particularly when facing platforms with established market dominance. \, infrastructure limitations, and safety concerns further complicate the landscape. However, inDrive’s distinctive model offers a clear opportunity for differentiation. By emphasizing fairness, offering lower commission rates, and adapting to local market needs, we provide a compelling alternative that benefits both drivers and riders. Moreover, our expansion into courier and intercity services enables us to capitalize on the rising demand for logistics solutions across the region.
How does inDrive leverage technology and data analytics to improve user experience and safety?
Technology is at the core of our operations. We use data analytics to optimize ride-matching, detect potential safety risks, and improve route efficiency. Our in-app safety features, such as realtime location sharing, emergency assistance, and driver verification, enhance security for both riders and drivers. Additionally, we analyze trip data to identify high-risk areas, helping us implement
proactive safety measures in collaboration with local authorities.
With AI and automation shaping the future of mobility, how does inDrive plan to integrate these technologies while maintaining its human-centred approach?
While AI and automation are transforming mobility, inDrive remains committed to a peoplefirst approach. We use AI to enhance—not replace—human decision-making. For example, AI helps detect fraudulent activity, optimize pricing suggestions, and while still allowing passengers and drivers to negotiate fares. We believe that technology should empower users rather than dictate rigid pricing models, which
is why our approach balances automation with personal choice.
What are your expansion plans for the EMEA region, and which specific countries or cities are you focusing on?
inDrive is continuously expanding across the EMEA region, with a focus on markets where affordable, fair, and flexible mobility solutions are in demand. We are actively growing in cities across Africa, the Middle East, and Eastern Europe, with recent expansions in countries such as Zambia and Zimbabwe. We also plan to deepen our presence in high-demand markets by expanding our courier and intercity services, addressing
broader mobility needs beyond ride-hailing.
inDrive’s model allows drivers and passengers to negotiate fares. How do you ensure fair pricing and prevent exploitation on either side?
Fairness is built into our model. We provide real-time price recommendations based on market trends, ensuring that both drivers and passengers have a reference point for negotiations. Additionally, driver ratings, passenger feedback, and safety monitoring help maintain accountability. We also educate users about fair pricing through in-app notifications and local engagement efforts, ensuring that both sides make informed decisions.
How does inDrive handle driver welfare and balance affordability for riders and profitability for drivers?
Driver welfare is one of the key priorities for inDrive. Unlike other platforms that take high commissions, we operate with a lowest commission structure in most markets, ensuring drivers keep more of their earnings. We also provide support programs, such as safety training and financial literacy resources, to empower drivers. At the same time, our flexible pricing model allows riders to find affordable options while still giving drivers a say in what they earn, maintaining a healthy balance between affordability and fair pay. Many of our drivers are also passengers—or vice versa—which helps us build and strengthen a sense of community. By being part of that community, we’re able to challenge injustice together.
What do you think the future of mobility looks like in the EMEA region, and how is inDrive preparing for these changes?
inDrive is continuously expanding beyond ride-hailing as part of our journey to becoming a true superapp. Our growing portfolio, which includes courier, freight, and intercity services, is already delivering meaningful value across the EMEA region. These verticals are tailored to meet diverse mobility and logistics needs, reinforcing our commitment to offering peopledriven, accessible, and fair solutions across every aspect of everyday transport.
Nigerian students that participated in the Huawei ICT Competition 2024-2025 Global Final, made the country proud by clinching two grand prizes and winning in the first prize category, writes emma okonji who was in Shenzhen, China to cover the global ICT competition
The closing and awards ceremony of the Huawei ICT Competition 2024–2025 Global Final, which was held on Saturday May 24, 2025 in Shenzhen, China, was a huge success, which clearly defines how Huawei is digitally transforming education and ICT talent development across the globe.
The global ICT competition, which is in its 9th edition, reached a record-breaking scale this year, attracting over 210,000 students and instructors from more than 2,000 colleges and universities in over 100 countries and regions, Nigeria inclusive.
Following national and regional competitions, 179 teams from 48 countries and regions made it to the global final, which held from Tuesday May 20 to Friday May 23, before the awards ceremony on Saturday May 24, 2025.
The Huawei ICT Competition is an annual global event designed for students and teachers from colleges and universities. It offers an international platform for competition and exchange, enabling participants to strengthen their ICT knowledge, improve practical skills, and foster innovation using the latest technologies and platforms. Since its launch in 2015, the competition has been gaining significant momentum, with more countries and students joining each year. In China, it has been listed as a national competition for university students, while globally, it has been recognised as a key partner flagship programme by UNESCO’s Global Skills Academy.
GraNd PrIze awardS
Through intense competition across three major tracks: Practice, Innovation, and Programming, top honors were awarded to 18 outstanding teams from nine countries: China, Nigeria, Algeria, Brazil, Philippines, Morocco, Serbia, Tanzania, and Singapore.
The Grand Prize winners of the Innovation Competition were teams from the Bulacan State University in the Philippines; Beijing University of Technology in China; Faculty of Technical Sciences Cacak of the University of Kragujevac in Serbia; and the Faculty of Sciences and Technics of Errachidia - Moulay Ismail University in Morocco.
In the Practice Competition – Network Track, Grand Prizes were awarded to teams from the Shenzhen Institute of Information Technology in China; Instituto Federal do Tocantins in Brazil; Federal University of Technology Minna in Nigeria, and a joint team from Dar es Salaam Institute of Technology, University of Dar es Salaam, and University of Dodoma in Tanzania.
In the Practice Competition – Cloud Track, Grand Prize winners included teams from iACADEMY in the Philippines; University of Batna 2 and the Higher National School of Computer Science Algiers in Algeria; Tianjin University of Technology and Education in China; and Singapore University of Social Sciences.
In the Practice Competition – Computing Track, the Grand Prizes went to teams from Guilin University of Electronic Technology in China; Federal University of Technology Minna in Nigeria; University of Bejaia and Higher National School of Computer Science SBA in Algeria, and Cebu Institute of Technology - University in the Philippines.
The Grand Prize in the Programming Competition was awarded to a team from Shenzhen Polytechnic University in China.
SPeCIal awardS
To recognise outstanding contributions beyond technical excellence, the competition also presented special awards to outstanding teams. The special awards include: Women in Technology Award, Green Development Award and Most Valuable Instructor
Award. The Women in Tech Award was granted to four all-female teams from Brazil, Saudi Arabia, Germany, and Kenya. The Green Development Award went to a team from the University of Ghana. The Most Valuable Instructor Award recognised 18 distinguished instructors from 10 countries – China, Nigeria, Algeria, Bangladesh, Brazil, Egypt, Indonesia, Iraq, Hungary, and Türkiye, for their contributions to ICT education.
HuaweI Global ICT ComPeTITIoN
In his opening speech, at the Huawei ICT Competition 2024–2025 Global Final Closing and Awards Ceremony, the Director, ICT Strategy and Business Development Dept at Huawei, Ritchie Peng, said: “To achieve the goal of learning through competition and inspiring innovation through competition, we have continuously evolved the design of competition topics. The Practice Competition aligns with our vision for an Intelligent World 2030 and encourages students to master cloud computing, big data, and Artificial Intelligence (AI) to drive social progress. The Innovation Competition focuses on green development and digital inclusion, motivating participants to solve real-world challenges in sectors like agriculture, healthcare, and education through ICT.”
As digital transformation is accelerating globally, the demand for skilled professionals in fields such as AI, big data, and cybersecurity continues to grow. However, the shortage of talent in these critical areas is becoming increasingly evident.
To help tackle this challenge, the Huawei ICT Competition features multiple tracks — including Practice, Innovation, and Programming — alongside initiatives such as industry-academia collaboration and tailored curriculum development. These efforts aim to equip students with in-demand skills and foster the next-generation tech talent who will stand out in an increasingly intelligent and digital world.
During this year’s competition, Huawei also hosted the AI Accelerating Education Transformation Summit, where experts explored the pivotal role of AI in smart education. In addition, Huawei officially announced the AI Capability of the Huawei ICT Academy Intelligent Platform, making it easier and more efficient for educators and students to use. This marks another step forward in advancing educational digitalisation.
THe NIGerIaN CoNTINGeNT
Nigerian students from various universities across the country, participated in this year’s Huawei Global ICT Competition, and some of the teams made it to the final stage of the competition. Two groups of Nigerian students from the Federal University of Technology, Minna won two grand prizes in the competition. The two teams participated in the final contest in the Computing and Network technology tracks, and won the grand prize, alongside other teams from different universities of the world. Aside winning the grand prize, other Nigerian teams, from the University of Ibadan and Ahmadu Bello University, Zaria, also won first prize in the global competition. While the team from the University of Ibadan won in the Cloud technology contest, the team from Ahmadu Bello University, won in the AI Innovation contest. In all, 36 teams from various universities, won in the first prize category, which included teams
from various universities from China, Nigeria, Algeria, Cameroon, Kenya, Malaysia, Brazil, Egypt, Poland, Madagascar, Vietnam, and Jordan.
For the second prize category, 54 teams won, which include universities from Uganda, Ghana, Kenya, among others, while some universities were also named for the third prize category.
The winners were presented with trophies and medals among other items.
Victor Olamide Akande from the Federal University of Technology, Minna, who spoke with THISDAY Newspaper about their victory in winning the grand prize in the competition, said: “My team competed in the Computing track, and by God’s grace, we got the grand prize. It was an amazing experience for the team to go this far to clinch the grand prize, and I want to thank my team for the collaboration and also our instructors that nurtured us all through the preparation period and the competition period.
Tersoo Ushana Ezekiel and Manuwa Bala, members of the Network team from Federal University of Technology, Minna, that also won grand prize in the global ICT competition, told THISADY that it was a keenly contested competition, followed by months of preparation. They said they were happy to make Nigeria proud in the global ICT competition.
One of the instructors from Huawei Academy, Mr. Knimi Bakna Musa, who was part of the instructors that mentored the students from Federal University of Technology, Minna, said he was happy to see his students win in the grand prize of the global ICT competition.
“Winning at that highest level, is actually an achievement and this is really something remarkable. As instructors, we have done our best to guide the students and the students did extremely well to win the grand prize category in the global contest,” Musa said.
HuaweI exHIbITIoN CeNTre
In order to give participating students an all-round experience, Huawei organised a tour to the Huawei exhibition centre, its research institute, the IoT Research Centre at Shenzhen University Polytechnic, and the Dongguan Education Bureau.
Inside the Huawei exhibition centre, there were displays of latest technologies, including the Accelerating B2B Techco Evolution, that brings digital to everyone, home and organisations for a fully connected, intelligent world.
The centre has an AI -Centric Network that enables business success in the digital era. At the centre, there was digital display of how people could use AI as personal assistant to order ride and dinner, thus making daily life flexible and easy in the future. Also on display at the centre, was how to use AI and 5.5G to convert long text into video for faster compression. 5G base stations for remote areas access, to complement fibre-to-the-home, was also displayed at the Huawei exhibition centre. Huawei has come with a new initiative where small and medium businesses can use the 5.5G technology to control robots that could to give customer direction and assistance in super markets and stores.
At the IoT Research Centre at Shenzhen University Polytechnic, the Huawei ICT Academy is in collaboration with Shenzhen Polytechnic University to train talents in digital technology.
The IoT centre supports talent development in technology skills, and Huawei ICT Academy
offers certification programme at the centre.
Over 250,000 students have been trained by Huawei, since the partnership was signed in 2006, and over 400 students have been certified in the highest Huawei’s certification. Huawei offers opportunities for employment for certified students.
In the Huawei ICT Academy, students are trained in 5G technologydeployment, from the digital training lab that is designed for 3G, 4G and 5G technologies. The university is a vocational institution located in Shenzhen, and it is in partnership with Huawei in the area of digital training.
The school is of the view that the Huawei technology model can be replicated anywhere in the world.
While addressing the audience during the tour, the Dean, School of Electronics and Information Engineering, Shenzhen Polytechnic University, China, Prof. Song Rong, said: “The Huawei Global ICT Competition is a good initiative that will further enhance technology development in schools. The University is in the process of establishing computing capacity to further drive technology and enhance AI, as we plan to use AI in teaching and learning.”
Rong advised African universities to develop partnership with Huawei Local ICT Academy, adding that such initiative will help introduce exchange programmes in schools and also boost digital transformation.
In order to address the language barrier that could impede such partnership between Huawei ICT Academy and African Universities, Rong said the training Curriculum, which is designed and developed in Chinese language, could be translated to English language for African countries that study in English language, adding that AI will be applied to translate languages from Chinse language to English language.
doNGGuaN eduCaTIoN bureau
During the tour to Dongguan Education Bureau in China, Deputy Directors at the Information Centre, Dongguan Education Bureau, China, Cheng Qinglei, and Du Runjiang, addressed the tour group. According to them, the Bureau is in partnership with Huawei Technology to develop information technology and information systems for schools in Dongguan.
They said through the partnership, all schools in Dongguan have been fully connected to be able to access digital teaching and learning.
Giving further details, they said in Dongguan, teachers were sent to the western areas, usually the remote areas to teach the local teachers how to make the best use of all the IT platforms, adding that since the partnership with Huwaei, schools in the area have recorded many high-quality courses.
“So we provide an account for the teachers in these remote areas, which they can use to log into the platform. In addition, our teachers will also give them some guidance that will enable them to make better use of the platform,” Runjiang said.
“Back in 2019, we signed the strategic cooperation framework to build a digital government, where we need to use the latest technologies to improve efficiency and also make our work processes more transparent So the Dongguan government needed to choose a company that has the strength and the technology capability, and Huawei Technology was chosen as the technology partner. .
“So in the field of smart education, I think Huawei is a good fit, because it has accumulated a lot of technology skills and systems over the years, and these technologies can be readily applied to education,” Qinglei said.
Eromosele Abiodun
The Regional Trade Facilitation Committee (RTFC) of the Economic Community of West African States (ECOWAS), has commended the Comptroller General of Nigeria Customs Service, Bashir Adewale Adeniyi for embracing innovation to initiate the Unified Customs Management System, also known as B’Odogwu
Speaking during a visit of the RTFC to PTML Command, which served as the pilot area for the B’Odogwu implementation, the Director of Trade, ECOWAS, Kolawole Sofola, praised Adeniyi and the PTML Command for the great achievements in trade facilitation and revenue collection recorded within the period it commenced implementing the project.
A statement issued by the Public relations officer, PTML, AT
Abubakar,explained that the ECOWAS Director who led the team to learn about the activities of the command and get deeper insight into recent NCS activities, added that Nigeria is making gains with the deployment of modern innovations
Sofola also said the NCS is doing a great job in enabling economic growth through trade facilitation and suppression of smuggling.
He also lauded Controller of PTML, Comptroller Tenny Mankini Daniyan for deploying the technology to achieve greater productivity like increased revenue.
“On behalf of the President of the ECOWAS Commission, as well as the Commissioner responsible for Economic Affairs and Agriculture , I congratulate Comptroller Daniyan and his management team for the great work that they are doing, not only in generating revenue but
also in stopping smuggling activities and promoting trade facilitation.
Customs Area Controller of the PTML Command, Comptroller Tenny Daniyan told the committee that since the inception of B’Odogwu, in November 2025 to date, the command has collected over N230 billion using the platform as at May 22, 2025.
He revealed to the commitee that B’Odogwu project was initially launched in a pilot phase at PTML Command and because of the success story, the management of the Nigeria Customs Service rolled out the project in 34 commands across the country
He noted that the B’Odogwu platform is unique in the sense that it is a home-grown application which was developed by the NCS officers in conjunction with the Trade Modernization Project (TMP).
Blessing Ibunge in Port Harcourt
The Standard Organisation of Nigeria (SON), has concluded a stakeholders sensitisation forum for the maritime and manufacturing sectors in Rivers State. During the sensitisation programme held in Port Harcourt, Rivers State capital, the agency observed that installation of weighbridge on Nigerian roads will prevent damages caused by overload trucks plying the roads.
In his remarks, the Director General of SON, Dr Ifeanyi Okeke, said the forum provided the platform for meaningful engagement between SON and key players in the maritime and manufacturing sectors who play vital roles in the economic engine of the Niger Delta region and the country at large.
Speaking on the theme of the forum, “Aligning Business Practices with Nigeria’s Trade Policies for Sustainable Growth,” Okeke said it underscores the need to harmonise operational realities on the
ground with the overreaching goals of national trade policy, economic diversification, and sustainable development. In his presentation, the Head of the National Metrology Institute, SON, Dr Samuel Ayuba, emphasised the need for the installation of weighbridges on Nigerian roads to prevent damage caused by overloaded trucks.
According to Ayuba, roads are designed to carry specific loads, and exceeding these limits can lead to premature wear and tear.
Seriki Adinoyi in Jos Yunnan Tin Company Limited of China, the largest tin producer and smelter in the world, is eyeing the Nigerian tin market, with special interest in Plateau State.
A ten-man Chinese delegation led by the Chairman and General Manager of the company, Mr. Liu Luke, the Chief Financial Officer, Mrs. Yue Min, and Foreign Trade and Purchase Manager, Mrs. Li Niping visited the state to consult and research for the market.
During the visit, the company paid homage to His
Royal Highness, Da Edward Gyang Bot, the traditional ruler of Barkin Ladi and Sector 4 Commander of the Operation Safe Haven (OPSH), Lt. Colonel Isaac Indiorhwer where security dominated their discussion. The Commander assured the investor that Barkin Ladi was safe and welcoming to foreign investments.
Managing Director of the Laurium Mining Company in Jos, Mr. Ayodele Musibau Kusamotu received the Chinese and took them round his company.
He told them that there are 18 dry processing plants in the
area of coverage, acknowledging that the ten officers came from the largest tin mining company in the world.
Elated by their visit, Kusamotu added that the officers from China came to see the facilities on ground and to know what was going on at the site.
He revealed that there has been an ongoing economic war in the area, saying, “I pay N70 million yearly to the Federal Government of Nigeria to renew my certificate even though I have not started mining work.
Responding, the Chinese who expressed delight to be
Ejiofor Alike
The Kwale Gas Gathering (KGG) hub, located in Kwale, Delta State, earned Nigeria the Regional Gas Award for Africa by the International Gas Union (IGU) at the just-concluded World Gas Congress (WGC) held in Beijing, China.
The 29th World Gas Conference (WGC2025) in China was the premier gathering of the global gas and energy industry, hosted by the International Gas Union (lGU). IGU represents over 90 per cent of the global natural gas production and consumption market.
The technical paper describing the KGG project, which offers a commercial solution for eliminat-
ing flare gas at oil production hubs in the OML 56 cluster area of Delta State, kept the Nigerian flag flying on the awards podium at the global arena.
Chief Executive Officer of Xenergi Limited, a Nigerian gasprocessing company, Mr Emeka Ene, received the award on behalf of the team that developed the technical submission, comprising Ene, Debo Fagbami, Kingsley Idedevbo, James Ogunleye, and Sahhed Hammed. It was a big moment for the Nigerian delegation, which was led to the event by the Minister of State for Petroleum Resources (Gas), Hon Ekperikpe Ekpo; the Executive Vice President, Gas, Power and New Energy, NNPC Ltd., Mr Olalekan Ogunleye; Chief
Secretary to the Government of the Federal (SGF), Senator George Akume and the Executive Secretary/ CEO, Nigerian Shippers’Council (NSC), Dr Akutah Pius Ukeyima presenting a souvenir to Akume when he paid official visit to the NSC at Apapa corporate headquarters in Lagos... yesterday
Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed; Director of the Decade of Gas (DOS) office, Mr Ed Ubong, and the Chairman of the Nigerian Gas Association (NGA), Mr Aka Nwokedi.
Receiving the award, Ene recognised and commended the multidisciplinary technical team that delivered the project and appreciated the Nigerian government and its agencies in the petroleum industry for providing the enabling environment for indigenous companies to demonstrate their various capabilities in resolving the petroleum industry’s operating challenges.
Kayode Tokede
Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, yesterday held its 37th Annual General Meeting (AGM) in Lomé, Togo, which was followed by an Extraordinary General Meeting (EGM).
The shareholders at the meeting authorised the board of directors to raise $250million
additional Tier-1 capital (AT1) as the Pan-African financial institution undergoing major transformation.
The AT1, according to the financial institution, shall be available for subscription, with first-order priority to a maximum of 100 shareholders on a first-come, first-served basis and the second-order priority to any other interested investors.
Other key resolutions approved by shareholders
include the approval of the 2024 accounts, the transfer of total annual profits to retained earnings, and the renewal of mandates of Mrs. Aichatou Agne Pouye and Dr. Aasim Qureshi.
The shareholders also approved the appointment of Ms. Esther Chibesa as a new director, the appointment of an additional auditor, and a modification of the Articles of Association on the requirement of mandatory public offer to acquire shares.
The endorsement by shareholders came on the back of Ecobank’s record profits and strong earnings and returns in 2024. The Group achieved profit before tax of $658 million, up 13 per cent from $581 million in 2023. In Constant Currency - which excludes the adverse effects of translating local currencies into ETI’s reporting currency the US dollar - the increase in profit before tax was an even more impressive 33 per cent.
The Group also recorded a record return on tangible equity of 32.7 per cent (24.9 per cent in 2023) and its lowest ever cost-to-income ratio of 53.0 per cent (2023: 53.9 per cent).
This performance was delivered despite a challenging economic environment characterised by high inflation, rising interest rates, currency depreciation in many subSaharan African markets, and tightening regulation in Ghana,
Nigeria and Zimbabwe. The Chairman of the Board of Directors, Ecobank Group, Papa Madiaw Ndiaye said: “Ecobank Transnational Incorporated is delivering on itsstrategic priorities even as the external environment poses real challenges. Since I became Chairman last June, I have seen first-hand how our strong Board and leadership have worked together to drive the performance of this worldclass pan- African institution.
0.3%
Thisday Afrinvest 40 index rose 0.3% to print at 5,513.19 points due to price decline in LAFARGE (0.4%), MTNN (1.9%), and ACCESCORP (0.5%). Cumulatively, these stocks account for 13.0% of the index.
0.3%
Yesterday, the domestic bourse sustained its three-day positive streak as gains in MTNN (+1.9%), DANGSUGAR (+4.7%), and NB (+3.6%) pushed the NGX-ASI up 0.3% to close at 111,902.61 points. As a result, YTD return climbed to 8.7% (previously 8.4%), while market capitalisation advanced 0.3% to ₦70.6tn. Likewise, activity level improved as volume and value traded rose 25.1% and 73.4% to 512.2m units and ₦17.1bn respectively.
Performance across our coverage sectors was broadly positive as five indices gained, while the Banking index lost 0.1% following selloffs on FIRSTHOLDCO (-1.0%) and GTCO (-0.4%). The Consumer Goods and AFR-ICT indices led the gainers, up 1.0% and 0.7% respectively, following buying interest in DANGSUGAR (+4.7%), NB (+3.6%), MTNN (+1.9%), and CWG (3.3%). Following, price appreciation in SUNUASSURE (+7.1%), AIICO (+2.5%), OANDO (+2.7%), and JAPAULGOLD (+0.5%) pushed the Insurance and Oil & Gas indices up 0.5% and 0.2%, respectively. Similarly, the Industrial Goods index ticked higher by 0.1% owing to gains in WAPCO (+0.4%) and CUTIX (+1.3%).
Investor sentiment, as measured by market breadth, weakened to 0.18x from 0.22x in the previous session as 39 stocks advanced, 28 declined, while 61 closed flat. We expect the positive performance to be extended today as investors continue the hunt for bargains
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 27 May-2025, unless otherwise stated.
Across Africa’s dynamic markets, reliable and instant financial transactions are critical to business success. For most traders, the United Bank for Africa (UBA) has emerged as a trusted partner, delivering seamless digital payment solutions through innovations like its upgraded PoS terminals and UBA Moni App. Chiemelie Ezeobi writes that with instant settlement, enhanced security, and user-friendly features, UBA is not only bridging the trust gap but also empowering small and mediumsized enterprises (SMEs) to grow and thrive in today’s digital economy
Alhaja Aminatu Bashiru is a trader in Lagos’ bustling Balogun Market, where she sells a vibrant array of fabrics. Like many small and medium-sized enterprises (SMEs), her financial health depends on seamless transactions and reliable infrastructure that ensures she receives payments the moment they are made.
Over the years, she has witnessed shifts in Nigeria’s financial landscape, with new players introducing flashy innovations, middlemen promising quick fixes, and bold assurances that often crumble under the weight of unmet expectations.
‘Every day, we get new people coming here, telling us to keep our money with them, promising unbelievable benefits. I don’t trust them as, more often than not, these things end in tears,’ she laments.
But with United Bank for Africa (UBA), a trusted financial institution with over 75 years of reliability, she has found a partner that has always innovated and kept its promises. UBA has continued to deliver cutting-edge technology, like its newly introduced instant settlement feature on its POS and revamped UBA Moni App, ensuring speed and security, which is leading a paradigm shift in a market where traditional banks are notorious for sluggish transactions.
Even when new fintechs deliver on immediate promises, past experiences keep her wary as she withdraws deposits quickly. The constant churn of new financial schemes leaves her struggling to keep up, and the growing trust deficit has left many traders like her caught in an ecosystem riddled with delays, broken promises, and fleeting innovations. UBA's solution has evolved into a vibrant hub for smooth digital transactions, now featuring a redesigned PoS Terminal and an upgraded UBA MONI App. The enhanced PoS Terminal offers exceptional performance, providing merchants with instant settlement, real-time tracking, payby-link options, and a 100% transaction success rate, enhancing speed, transparency, and reliability for businesses of all sizes.
On the other hand, the improved UBA MONI App enhances UBA’s agency banking services with new capabilities, including instant settlement, transfer-based payments, secret question verification, and a user-friendly design. It also retains key features like quick account creation, real-time money transfers, cash deposits and withdrawals, as well as discounted airtime and data. Together, these upgrades ensure a faster, more secure, and
seamless experience for merchants, agents, and customers alike.
However, with UBA’s unwavering reliability, instant settlements, and security, traders like Alhaja Aminatu finally have a solution they can rely on.
For UBA PoS and MONI App, Instant Settlement is Everything
In Nigeria’s fast-paced markets, delayed transactions can mean lost sales and frustrated customers. UBA’s upgraded PoS terminal and MONI App tackle this head-on with instant settlement, ensuring merchants receive payments in real-time.
“Before, I’d wait hours, sometimes days, for transfers to clear,” says Sylvester Goodluck, an electronics dealer in Onitsha. “Now, with UBA’s PoS, the money hits my account before the customer leaves my shop. It’s feels so great.”
UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, emphasises the transformative impact of these new improvements and upgrades on SME in the country
“The newly introduced Real-time settlement provides the much needed lifeline for businesses. By ensuring immediate access to funds, we’re empowering merchants to operate with confidence, reinvest quickly, and focus on growth rather than worrying about cash flow delays. This is how we drive financial inclusion and strengthen Nigeria’s digital economy.”
This is particularly critical for small businesses operating on thin margins, where cash flow delays can disrupt restocking and payroll. With the elimination of settlement lag, UBA has improved convenience and trust, which is a major barrier to digital payment adoption in Nigeria and Africa.
Fashola adds: “Our goal is to make digital payments seamless and reliable for every merchant, from market stalls to large retailers. When businesses thrive, the entire economy benefits, and UBA is proud to lead that change and charge.”
Trust is the Currency of Digital Finance Trust is the cornerstone of UBA’s strategy. While fintech startups often struggle with credibility among older merchants and even younger ones, UBA leverages its over seven-decade reputation to reassure wary traders. “I don’t trust these new apps, but I know UBA,” says Alhaja Aminatu.
“Immediately I was informed about their new PoS and Moni app, I had to get it real quick. Their new PoS doesn’t fail, and their agents are always available to help, they are like children and family to me.”
This trust is further enhanced by real-time transaction monitoring, providing merchants with full visibility over payments. Unlike opaque third-party platforms, UBA’s system provides instant notifications and failsafe reconciliations, which are key for businesses keeping daily ledgers.
Fashola explains further: “Trust isn’t built overnight as it is earned through consistency, reliability, and transparency. UBA’s long-standing presence in Nigeria means merchants see us as more than a service provider, but as a partner they can depend on. “For many SMEs, especially in traditional markets, trust is just as important as functionality. That’s why we combine cutting-edge technology with the human touch,agents on the ground, responsive customer service, and complete transparency in every transaction. When a merchant knows their funds are secure and their issues will be resolved, they’re far more likely to embrace digital payments fully.”
Recognising that not everyone carries a bank card, UBA’s Moni App has introduced a new pay-by-transfer feature, enabling customers to make payments directly from their mobile banking apps with ease. This move aligns with UBA Moni’s goal to bring more people, especially the financially excluded, into the banking system by working with local agents who understand and speak the language of their communities.
“Many of my customers don’t own physical cards,” says Chinedu Okeke, a UBA Moni agent. “Now they just show me their transfer confirmation, and I get the alert instantly. It’s fast, secure, and there are no more arguments about whether payment was made.”
Fashola, UBA’s Head of Digital Banking, adds, “Financial inclusion is about meeting customers where they are. While cards are still relevant, we know that millions of Nigerians prefer to transfer directly from their bank accounts. With UBA Moni’s pay-by-transfer option, we’re streamlining the payment process while still delivering the trusted security UBA is known for.”
Transparent Processing Fees
Hidden charges and unclear pricing have long
been a major pain point for merchants and small businesses. Many traders have complained about unexpected deductions and fluctuating charges from payment providers, which cut into already tight profit margins.
UBA tackles this challenge head-on with clear, upfront pricing and zero hidden charges. Merchants know exactly which fee applies to each transaction type, whether it is card payments, transfers, or other methods. “We believe fairness is non-negotiable in digital payments. Our merchants deserve to know exactly what a transaction costs, no fine print, no last-minute surprises. This is how we empower businesses to grow sustainably." Fashola added.
Improved and Better Security Fraud remains a top concern for Nigerian merchants. UBA’s upgraded terminals integrate advanced encryption and multi-factor authentication, while the MONI App adds secret question verification for high-value transactions.
UBA has been at the forefront of combating fraud in Nigeria's banking sector, thanks to its significant investments in security and its transparent approach to tackling the menace. The bank continually upgrades its services with advanced features designed to help merchants mitigate fraud, particularly incidents stemming from fake alerts and poor network connectivity.
“Last year, a fake customer charged back ₦150,000 after paying,” recalls Chinedu Okeke. “With UBA’s new security features, I can verify every transaction before the customer leaves my shop.”
The system also flags suspicious activity in real-time, a critical safeguard in a market where chargeback scams cost businesses billions annually.
Conclusion
UBA's newly upgraded POS and MONI app is designed to offer solutions to the core issues that merchants contend with daily, such as instant settlements that eliminate cash flow stagnation or robust security features that combat fraud. UBA is at the forefront of establishing new benchmarks for dependability in digital payments With a blend of cutting-edge technology and a reputation spanning decades of being reliable and dependable, UBA is filling the gap between conventional banking and contemporary fintech to make it possible for even the most cautious merchants to adopt digital payments with ease”
In the pursuit of wellness and relaxation, many turn to traditional saunas or spas. However, Lasena Artesian Natural Steam Bath and Health Resorts offers a unique alternative, leveraging the natural properties of artesian hot water to promote physical and mental rejuvenation.
MARY NNAH writes on the science behind artesian steam baths, the benefits they offer, and the distinctive features of Lasena’s facility.
In the heart of Lagos, Nigeria, lies a serene oasis that promises to rejuvenate both body and soul. Lasena Artesian Natural Steam Bath and Health Resorts, nestled in the picturesque Lasena Water City, offers a unique wellness experience that sets it apart from traditional spas and saunas. Located along the Lagos/Ibadan Expressway, near Opic Bus Stop in Isheri Oke, Isheri North, Water City, this hidden gem is easily accessible for those seeking relaxation and rejuvenation.
The Discovery of a Natural Wonder
The story of Lasena Artesian Natural Steam Bath and Health Resorts began with a remarkable discovery. During construction, the facility stumbled upon a natural artesian aquifer, a bed of rock containing water that flows naturally to the surface. This aquifer produces hot water rich in 13 minerals, including magnesium, calcium, and potassium, with a temperature of 70 degrees Celsius. According to Gbemisola Falade, Steam Bath Coordinator at Lasena Artesian Natural Steam Bath and Health Resorts, “The reason we are located here is because of our source. We discovered the hot water that naturally comes out from the ground in this place.”
A Unique Steam Bath Experience
The steam bath facility is designed to harness the natural hot water from the aquifer, creating a serene and therapeutic environment. Clients can expect a rejuvenating experience as the minerals in the steam are absorbed through the skin, promoting relaxation, detoxification, and rejuvenation. Falade explained, “Our steam bath is similar to traditional saunas, but the difference is that we don’t use electricity to power our steam room. We use the natural
hot water from the ground, which is rich in minerals.”
The session typically lasts an hour, during which clients are monitored for blood pressure and sugar levels.
The steam bath’s minerals, such as silica and zinc, have anti-aging properties, promoting collagen production and skin health. Falade noted, “The minerals in the steam help to improve your immune system. For people that are familiar with Lasena Water, when they drink the water, part of the testimonies we get is that since they’ve been drinking Lasena water, their blood pressure has been stabilized. Their sugar level has also been stabilised.”
The steam bath experience is designed to promote overall wellness, with clients reporting improved cardiovascular health and reduced stress.
Lasena Artesian Natural Steam Bath and Health Resorts offers a holistic approach to wellness, catering to different needs, including stress relief and skin rejuvenation. Falade explained, “Our services cater to different wellness needs. The steam bath affects almost every area of your body. It’s like finding yourself, your true self, in a serene, quiet environment surrounded by warmth.”
Clients can expect a serene therapy experience, unlike any other, as the steam bath promotes relaxation and rejuvenation.
The Benefits of Regular Use
Regular use of the steam bath can lead to long-term health benefits, such as improved
cardiovascular health and reduced stress.
“Some people do it every day, some people do it once a week, some people do it once a month. It depends on your health goal.”
The facility recommends regular use to achieve optimal benefits”, Falade noted.
Testimonials and Feedback
Clients who have experienced the steam bath rave about its benefits. Many report feeling “light” and “less burdened” after sessions, with some even using the facility as a spiritual retreat.
“The number one feedback we get is that feeling of lightness. You feel less burdened. Some people come here because they see it as a spiritual retreat for them.” The feedback is overwhelmingly positive, with clients eager to share their experiences with friends and family”, she said further.
Precautions and Recommendations
To ensure a safe and beneficial experience, Lasena Artesian Natural Steam Bath and Health Resorts takes certain precautions. Clients with high or low blood pressure, fasting, or pregnancy are advised against using the steam bath. Falade explained, “We don’t take people who are fasting, because their sugar level might drop too low. We also don’t take people with high blood pressure above a certain level, because it might cause dizziness.”
The facility recommends checking blood pressure and sugar levels before and after sessions.
Incorporating Health Education and Wellness Workshops
Lasena Artesian Natural Steam Bath and Health Resorts is open to collaborations with health practitioners and companies
for seminars and retreats. Falade said,, “We are open to partnerships or collaborations for health education and wellness workshops. We want to promote health education and support client well-being.” The facility aims to provide a comprehensive approach to wellness, supporting clients in achieving their health goals.”
A Haven of Serenity
In a world where stress and hustle are inevitable, Lasena Artesian Natural Steam Bath and Health Resorts offers a a haven of serenity and rejuvenation, providing a muchneeded respite from the chaos of modern life. This serene retreat invites guests to unwind, rejuvenate, and rediscover their inner peace amidst nature’s splendor.
Lasena Artesian’s carefully crafted ambiance and expertly designed facilities create the perfect setting for relaxation and rejuvenation. The natural steam baths, infused with the healing properties of artesian water, work wonders in soothing the mind, body, and spirit.
As you immerse yourself in the warm, gentle steam, feel your worries melt away. Let the stresses of everyday life fade into the background as you breathe in the fresh, clean air and allow your senses to be revitalised.
At Lasena Artesian, you will find a range of holistic wellness programs and therapies tailored to nurture your body, calm your mind, and uplift your spirit. From therapeutic massages to meditation sessions, every treatment is designed to promote deep relaxation and inner peace.
Lasena Artesian Natural Steam Bath and Health Resorts is more than just a retreat – it’s a haven where you can reconnect with nature, yourself, and others. Come, experience the bliss of serenity, and leave feeling refreshed, renewed, and revitalised.
ChiemelieEzeobi
As part of the events commemorating the 69th anniversary of its establishment, the Nigerian Navy launched a large-scale free medical outreach in Victoria Island, Lagos, delivering critical healthcare services to hundreds of people.
The initiative, which has drawn a diverse crowd of beneficiaries, is one of several community engagement activities lined up for this year’s Navy Week.
The initiative was formally launched at the Naval Dockyard in Victoria Island, a location which provided both visibility and accessibility to target beneficiaries — predominantly low-income earners working within the commercial district.
Speaking at the venue, Admiral Superintendent of the Naval Dockyard Limited, Rear Admiral Ibrahim Shehu, highlighted the importance of the outreach in the context of the Navy’s broader social responsibility efforts.
“This medical outreach is in
The outreach, tagged “Medical Rhapsody,” is designed to serve as a bridge between the Navy and the civilian population, and to reaffirm the Armed Forces’ ongoing commitment to humanitarian service.
line with the Chief of Naval Staff’s mission to connect with the public, build goodwill, and promote strong community ties,”
he said.
“Services provided include basic blood tests, eye examinations, blood pressure checks,
provision of eyeglasses, and free medications. Where necessary, patients are referred for further treatment.”
Rear Admiral Shehu stressed that while Victoria Island is generally considered a high-income area, the outreach was aimed at the often-overlooked segment of the population — namely, workers such as cleaners, security guards, market vendors, food sellers, artisans, and other service providers who support the bustling business environment but may lack access to quality healthcare.
“While Victoria Island is known as an upscale area, many of those benefiting from this
outreach are not residents but workers who support businesses and residents in this environment. This effort ensures that everyone, regardless of status, has access to quality healthcare,” he noted. The outreach was wellorganised, with medical tents and consultation points set up across the venue to cater to a variety of health needs.
A team of Navy medical personnel, along with volunteer health workers, were on hand to provide comprehensive services ranging from general medical consultations to specialised care in dental health and optometry.
L-R: Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mr Olanrewaju Bajulaiye; Senior Special Assistant to Lagos State Governor on Tourism, Arts and Culture, Damilola Ayinde Marshal; Special Adviser to Lagos State Governor on Tourism, Arts and Culture, Mr Idris Aregbe; Lagos State Commissioner for Tourism, Arts and Culture, Mrs Toke Benson-Awoyinka; Lagos State Commissioner for Information and Strategy, Mr Gbenga Omotoso; Special Adviser to Lagos State Governor on Media, Mr Gbenga Akosile; Permanent Secretary, Lagos State Ministry of Information and Strategy, Mr Olumide Sogunle; and Senior Special Assistant on New Media to Lagos State Governor, Mr Jubril Gawat, during Year 2025 Ministerial Press Briefing commemorating the sixth year in office of Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu at Press Centre, Alausa, Ikeja, yesterday
To create 7,000 digital hospitals in rural communities
Oghenevwede Ohwovoriole in Abuja
The federal government has disclosed moves to ensure 24-hour power supply and fibre optic internet connectivity in select tertiary institutions in the country before the end of 2026.
The government also said it planned to create 7,000 digital hospitals in rural communities across the country.
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, and his education counterpart, Dr. Maruf Alausa, disclosed the plans in Abuja, Wednesday, while launching the projects at the Yakubu Gowon University (YGU), formerly University of Abuja.
Alausa stated that YGU was a special institution, and now enjoyed 24 hours’ power supply, saying other special institutions would enjoy similar facility before the end of 2026.
He said, “The president is energising institutions. We have special institutions in the country today enjoying 24-hour electricity via the presidential renewable mini-grid project, the solarisation project.
“University of Abuja is one of the beneficiaries. You have a 3.3 megahertz mini-grid here and everybody can attest to it now that you have 24-hour electricity supply.
“The president is not stopping there. Before the end of next year, literally all the special institutions will have mini-grid. You will all enjoy 24-hour electricity supply.”
Tijani stated that YGU was the
first of seven universities in the first phase of the pilot scheme of fibre optic connectivity, adding that by the end of June they would have connected the seven universities.
The minister stated, “This initiative we are launching here today is the first of the seven in a pilot scheme, and by the end of July we would have connected the seven universities.
“Galaxy Backbone has the infrastructure in place already; all we are doing is to take the fibre to hostels.
“Your challenge today is what you do with the knowledge that you’re being given. And this is why to actualise the dream of our president, we’ve thought it to be important that Nigerian university students cannot continue to learn without access to meaningful connectivity.
“It is unacceptable because we know when we give you this access that not only are you going to be better in what you’re learning, but you’re actually going to create the future that our president is asking that we create as a nation.”
Acting Vice Chancellor, Yakubu Gowon University, Professor Patricia Lar, in her welcome address, praised the project as laudable and valuable to the school community.
Lar said, “It’s a special initiative that is going to create opportunities for students of all economic status to access data to be able to use for knowledge and education and to feed their creativity with ease.
“We are grateful for deploying fibre to our hostels. This also works with the solar power backup that has been installed in our campus.”
President, Medical Students Association, YGU, Faith David, who spoke on behalf of the students, said they were very happy with what the government had done by connecting their hostels.
David declared, “We appreciate both the Minister of Communication and the Minister of Education for this initiative, we are enjoying 24 hours power and now our hostels have been connected to internet to make learning easier for us.”
Tijani also disclosed on Wednesday in Abuja that the federal government was set to create 7,000 digital hospitals for rural communities.
He made the revelation when he
unveiled a digital hospital and school at Ibwa 2 community in the Federal Capital Territory (FCT).
Tijani said President Bola Tinubu had directed that the ministry provides the unserved with 7,000 digital health facilities.
“Nigeria has decided to invest 7,000 of these equipment in health,” he said, adding that there are about 20 million rural dwellers who don’t have access to such facilities.
The minister stated, “There are about 20 million people who cannot benefit from what we that live in the city or those who are nearer to the city are currently enjoying.
“Out of that 20 million people, over 80% of them are from the northern part of Nigeria. This is why Mr. President has demanded that we must put money
into ensuring that this opportunity is not only available to those in the urban area but also that every part of the north must be covered with this equipment, so that we can give this opportunity to our people regardless of where they find themselves.”
Tijani stated that the project, being delivered in collaboration with Globacom Nigeria and Huawei Technologies Nigeria, would provide different digital services to over 12,000 residents of the community, and those within its environs.
He explained that the 7,000 digital schools and hospitals would provide services for 80 per cent of the 20 million unserved, who were in the northern states.
While in the community, the minister embarked on the test-running
of the digital facilities at the community, with online conversation with a medical doctor in Abuja and teachers in Lagos. He assured that the 7,000 projects would be delivered by the end of the year. According to him, “We have donated 125 smartphones to the community through the village Head, which they can use for services provided by this facility with the free WiFi that we have provided.”
Managing Director of Huawei Technologies Nigeria, Terrens Wu, expressed delight over the collaboration between the government, his company, and Globacom Nigeria, saying it would lead to rural transformation and economic empowerment of rural dwellers.
Elon Musk is set to depart the Trump administration and leave his role as a “special government employee,” a White House official told ABC News.
The White House will begin Musk’s off-boarding Wednesday night, the official said.
United Capital Rolls Out N1bn
The United Capital Asset Management Limited (UCAM) has rolled out its N1 billion Children Investment Fund (CIF) at a minimum subscription of N5 million per subscriber through Initial Public Offer (IPO) of 5,000,000 units of N1.00 each.
The IPO was rolled out Tuesday, May 27, which is also the Children’s Day celebration. However, the UCAM clarified that investors could make an initial subscription of N1 million and augment it with a weekly investment commitment.
It said that the fund, which is a Collective Investment Scheme, is targeted at qualified investors looking to build a financial reserve for their children’s future needs such
as education, healthcare, and major life events while pursuing long-term capital growth through a diversified investment portfolio.
The CIF was unveiled by the Group Chief Executive Officer of the United Capital Group, Mr. Peter Ashade, in Lagos. Ashade explained the fund is a deliberate response to the need for increased retail participation in the capital markets and the promotion of early financial literacy as critical pillars in Nigeria’s journey toward a $1 trillion economy.
He said: “Today, we do not merely launch a new financial product. We unveil a vision – a vision for the future of our children, for the prosperity of Nigerian families, and for the economic destiny of our nation. This is why today’s
launch holds a special meaning for us all.”
Ashade said the CIF is a purposeful step toward shaping the financial future of the next generation because every Nigerian child deserved a head start with a structured, deliberate, and empowering financial foundation that would prepare them not just for life, but for leadership, opportunity, and legacy.
He said: “The CIF is designed to offer families a simple, yet powerful vehicle for long-term financial planning.
“Whether it is saving for education, healthcare, or the seed capital for a child’s first business venture; this fund is about preparing the next generation to thrive, and lead in a world that rewards early planning and smart choices.
Musk posted on X Wednesday night thanking President Donald Trump, saying his Department of Government Efficiency (DOGE) team will continue to work throughout the government.
“As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,” Musk posted. He said the DOGE mission “will only strengthen over time as it
becomes a way of life throughout the government.”
As a special government employee, Musk was limited to an 130-day appointment -- a limit he could hit as early as Friday
Musk on Tuesday criticized the price tag of Republicans’ tax and budget legislation making its way through Congress.
“I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and under-
mines the work that the DOGE team is doing,” Musk told CBS News.
Musk’s political activities have drawn protests and some investors have called for Musk to leave his work as Trump’s adviser and manage Tesla more closely. Musk, the world’s richest person, has defended his role as an unelected official who was granted unprecedented authority by Trump to dismantle parts of the U.S. government.
Juliet Akoje in Abuja
The House of Representatives yesterday passed for second reading a bill aimed at revising the Armed Forces Act to embed a minimum of 15% female inclusion in recruitment, enlistment, and appointments across the Army, Navy, and Air Force.
The proposed Armed Forces Act (Amendment) Bill, 2025, introduced by Hon. Kafilat Ogbara, is designed to tackle persistent gender disparities within Nigeria’s military institutions.
The legislation seeks to implement affirmative action within military
structures and operations, thereby aligning the country’s defense policies with global gender equity norms.
During her lead debate, Ogbara highlighted the pressing need to reduce the gender imbalance in the armed forces, noting that women remain highly underrepresented, especially in leadership and field roles.
“The Nigerian Armed Forces are crucial to national security, yet the existing legal framework does not mandate gender inclusiveness. This bill goes beyond fairness; it is essential for the country’s security architecture,” Ogbara argued.
The proposed amendment aims to legally mandate a 15% female quota across recruitment and appointments; establish a gender-sensitive compliance framework for military training, logistics, housing, deployment, and disciplinary processes; and set up a gender-monitoring unit responsible for tracking adherence, record-keeping, and collecting data broken down by gender.
The amendment focuses on Section 1 of the current Armed Forces Act, introducing provisions that transform gender inclusion from a discretionary policy into a legal obligation.
Sunday Aborisade in Abuja
The Senate and the House of Representatives will hold a joint session to mark Democracy Day on June 12, Senate President Godswill Akpabio has disclosed during plenary on Wednesday shortly before the red chamber adjourned plenary sitting till Tuesday June 17.
Akpabio urged all senators to attend the joint session, saying President Bola Ahmed Tinubu has graciously agreed to attend the session.
The red chamber subsequently adjourned plenary to June 17 to enable the senators to celebrate the forthcoming Sallah with their families and constituents.
This is just as the Deputy President of the Senate, Senator Jibrin Barau, commended President Bola Tinubu’s performance on the second anniversary of his administration, saying the country is on the path
to prosperity. Barau, in a statement to commemorate the government’s second anniversary, signed by his Special Adviser on Media and Publicity, Ismail Mudashir, said President Tinubu has laid the foundation for the restoration of the country’s glorious days.
He said: “I join all Nigerians and admirers around the world in congratulating His Excellency, the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, on the occasion of the second anniversary of this government.
“The country in the past 24 months under the able leadership of President Tinubu, the visionary leader of our time, has been repositioned. Of course, he inherited a lot of challenges. But he has come up with programs and policies to surmount these challenges.
“We’ve seen how he has genuinely dealt with our twin main challenges: security and economy. We know we are not where we want to be, but the journey has started. It’s a work in progress. Mr. President is working hard, day in and day out, to surmount the insecurity challenge.
recent attacks coming from the terrorist group in some parts of Borno State.”
He expressed optimism that the establishment of development commissions in the North West, North Central, South East, South West, and South-South would accelerate the development of the country’s nooks and crannies.
Earlier at plenary on Wednesday the Senate lamented the resurgence of insecurity in some parts of northern Nigeria.
who was abducted on May 15, had yet-to-be-released.
The Chairman, Senate Services, Sen. Steve Karimi, made the disclosure as the Senate debated yet another motion on farmer-herder conflicts in Munga Lelau, Maigami, in Karim Lamido Local Government Area of Taraba State, which reportedly claimed many lives.
“Hundreds of terrorists have been neutralised, especially in the North West geopolitical zone. Most areas that have been tagged as no-go areas have been recovered. The instances of incessant kidnapping on the Abuja/ Kaduna Road have become history.
“In the Southeast, the activities of unknown gunmen terrorising the region have been on the downward slide. Boko Haram was almost completely eradicated until the
The Senator representing Kogi West Senatorial District, Sunday Karimi, told his colleagues that no fewer than 30 persons were kidnapped in Kogi-West Senatorial District of Kogi State in the last seven days amid the crippling security challenges in the country.
The attacks were reported while Oba James Dada Ogunyanda, the Obalohun of Okoloke in Yagba-West Local Government Area of the state,
Contributing to the motion, Karimi said insecurity had become a daily challenge in the country, blaming it on “disgruntled elements” bent on making the achievements of the administration of President Bola Tinubu “appear weak.” He noted: “Disgruntled elements are collaborating with these people to cause problems everywhere in the country. In the last one week, up to 30 persons were kidnapped in Kogi-West alone.
“We can’t allow disgruntled elements to pull the country down because of their interest.
Nigeria has ended its multi-year run as Africa’s largest importer of petroleum products on the back of the commencement of operations of the Dangote refinery, which has massively ramped up throughput since around September last year.
The title is now held by South Africa, where operational fuel-making capacity has shrunk, according to a consultancy, CITAC, a leading downstream African energy specialist.
Billionaire, Aliko Dangote’s 650,000-barrel-a-day plant started ramping up in 2024, part of Africa’s leading crude producer’s aim to stop
2025 remain on track.
On the second anniversary of the administration, the President also declared zero Value Added Tax (VAT) on key commodities like food, education, healthcare, rent, among other essential commodities, in a bid to reduce the taxation burden on households.
Tinubu, who took office in May 2023 has embarked on a broad range of economic reforms, which though seen as harsh on Nigerians, are largely acknowledged as necessary.
The President agreed that in the process of implementing the reforms necessary to strengthen the economy and deliver shared prosperity, there had been some difficulties experienced by compatriots and families.
Noting that he does not take Nigerians’ patience for granted, the Nigerian leader restated that the only alternative to the reforms the administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall.
He argued that despite the bump in the cost of living, Nigeria has made ‘undeniable’ progress, stressing that inflation has begun to ease, with rice prices and other staples declining.
Besides, Tinubu stated that the oil and gas sector is recovering, with rig counts up by over 400 per cent in 2025 compared to 2021, and over $8 billion in new investments having been committed. He added that the administration has stabilised the economy and is now better positioned for growth and prepared to withstand global shocks.
In 2025, Tinubu stated that Nigeria remains on track with its fiscal targets,
sending oil to Europe to be processed and shipped back, a Bloomberg news report said.
Despite being one of Africa’s largest crude oil producers, Nigeria had been a paradox, with abundant crude oil reserves but insufficient domestic refining capacity.
Its four state-owned refineries in Port Harcourt, Warri, and Kaduna built between the 1960s and 1980s fell into severe disrepair due to poor maintenance, corruption, mismanagement, and underinvestment.
By the late 1990s and early 2000s, the refineries were operating far below capacity or completely idle. Efforts to revamp them repeatedly failed or
with gross proceeds per barrel from crude oil broadly aligned with forecasts as the country intensifies efforts to ramp up production. According to him, the nation’s fiscal deficit has narrowed sharply from 5.4 per cent of Gross Domestic Product (GDP) in 2023 to 3.0 per cent in 2024.
Tinubu highlighted that the economic and general situation of the country he inherited required that he redirected the country’s affairs with a bold and new vision, especially the implementation of two necessary policies to stop the country from further drifting into the precipice.
The President stressed that it was apparent that if the federal government and the other two tiers of government must remain viable and cater to the citizens’ welfare, it must do away with decades-long fuel subsidies and the ‘corruption-ridden’ multiple foreign exchange windows, noting that the two were no longer sustainable.
“Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation,” the Nigerian leader said, adding that: “By the Grace of God, we are confident that the worst is behind us.”
While thanking fellow citizens for their unrelenting support and belief in the grand vision, Tinubu noted that May 29, 2025, offers the administration the opportunity to share again how far it has gone and the progress in steering the country along the critical path of socio-economic development.
Tinubu stated that there has been improved revenue generation and greater transparency in government finances, emphasising that the first quarter of this year, Nigeria recorded over N6 trillion in revenue.
stalled. Added to that, heavily subsidised fuel prices made it economically unattractive for private investors to build or run refineries. Government policies also lacked the consistency needed to incentivise refining sector growth.
Nigeria consistently spent billions of dollars annually importing refined petroleum products, especially petrol, diesel, and kerosene to meet domestic demand, thereby straining the country’s foreign reserves and contributing to chronic foreign exchange shortages and currency volatility.
But the privately owned Dangote Refinery since the commencement of production, marked a potential shift
He reiterated that the country discontinued ‘Ways & Means’ financing, which he said has been a major contributor to high and sticky inflation, while the Nigerian National Petroleum Company Limited (NNPC), no longer burdened by unsustainable fuel subsidies, is now a net contributor to the Federation Account.
“Our debt position is improving. While foreign exchange revaluation pushed our debt-to-GDP ratio to around 53 per cent, our debt service-to-revenue ratio dropped from nearly 100 per cent in 2022 to under 40 per cent by 2024. We paid off our IMF obligations and grew our net external reserves by almost 500 per cent from $4 billion in 2023 to over $23 billion by the end of 2024.
“Thanks to our reforms, state revenue increased by over N6 trillion in 2024, ensuring that subnational governments can reduce their debt burden, meet salaries and pension obligations on a timely basis, and invest more in critical infrastructure and human capital development.
“One of our administration’s most impactful achievements is our bold tax reform agenda, which is already yielding results. By the end of 2024, our tax-to-GDP ratio rose from 10 per cent to over 13.5 per cent, a remarkable leap in just one year. This was not by accident. It results from deliberate improvement in our tax administration and policies designed to make our tax system fairer, more efficient, and more growth-oriented.
“We are eliminating the burden of multiple taxation, making it easier for small businesses to grow and join the formal economy. The tax reforms will protect low-income households and support workers by expanding
toward self-sufficiency, with the removal of fuel subsidies and renewed focus on refining having created a more favorable environment for domestic refining investments.
“Nigerian imports are dropping as a result of the continued operation of Dangote,” Executive Director at energy , Elitsa Georgieva, said in response to questions by Bloomberg.
“Since the beginning of this year, South African imports have been consistently highest in sub-Saharan Africa,” Georgieva said.
The shift illustrates the ambition of several African nations, including Uganda and Mozambique, to increase domestic refining capacity, a difficult
their disposable income. Essential goods and services such as food, education, and healthcare will now attract 0 per cent VAT. Rent, public transportation, and renewable energy will be fully exempted from VAT to reduce household costs further.
“We are ending the era of wasteful and opaque tax waivers. Instead, we have introduced targeted and transparent incentives supporting high-impact manufacturing, technology, and agriculture sectors. These reforms are not just about revenue but about stimulating inclusive economic growth,” Tinubu pointed out.
According to him, there is a deliberate focus on the youth, who a friendlier tax environment for digital jobs and remote work will empower, adding that through export incentives, Nigerian businesses will be able to compete globally.
To promote fairness and accountability, he stated that the country is establishing a Tax Ombudsman, an independent institution that will protect vulnerable taxpayers and ensure the system works for everyone, especially small businesses.
Most importantly, Tinubu posited that Nigeria is laying the foundation for a more sustainable future by introducing a new national fiscal policy. This strategic framework, he said, will guide our approach to fair taxation, responsible borrowing, and disciplined spending.
“These reforms are designed to reduce the cost of living, promote economic justice, and build a business-friendly economy that attracts investment and supports every Nigerian. Together, we are creating a system where prosperity is shared, and no one is left behind,” he stressed.
task even for Dangote, whose $20 billion project went over budget and took longer than anticipated, according to Bloomberg.
Still, traders including Glencore Plc and Vitol SA have found opportunities to supply fuel to South Africa where a number of refineries have shut since 2020.
South Africa imported 4.2 million tons of refined products in the first quarter of 2025, while Nigeria landed 3.1 million tons, according to CITAC. It estimates South Africa will import around 15.5 million tons this year, almost twice as much as Kenya with 8.9 million tons and Nigeria with 6.4 million.
Tinubu said his administration has breathed new life into the solid minerals sector as part of efforts to diversify the economy, while revenue has increased phenomenally, and investors are setting up processing plants as the sector dumps the old pit-to-port policy and embraces a new value-added policy.
Furthermore, he argued that the government has repositioned the health sector despite all odds, with over 1,000 Primary Health Centres being revitalised nationwide, and an additional 5,500 PHCs being upgraded under the Renewed Hope Health Agenda as well as the ongoing establishment of six new cancer treatment centres.
“Three are ready. We offer free dialysis services in pilot tertiary hospitals and subsidise the service in others. Under the Presidential Maternal Health Initiative, over 4,000 women have undergone free cesarean sections. Lastly, we have expanded Health Insurance Coverage from 16 million to 20 million within two years.
“As a result of our bold and deliberate policies, the economy is growing stronger again. Real GDP rose by 4.6 per cent in Q4 2024, with full-year growth of 3.4 per cent . This is one of the strongest in a decade,” he stated.
However, the debate remains whether Tinubu’s sweeping economic reforms have borne tangible benefits for the ordinary people. For some, these reforms have intensified economic hardship, with skyrocketing food prices, a weakened currency, and rising poverty.
Small businesses continue to struggle with high operating costs, unemployment remains stubbornly
Over the last five years, South Africa’s refining capacity has been halved due to accidents and a lack of investment, with imports meeting more than 60 per cent of demand, according to state-owned logistics firm, Transnet SOC Ltd. The government last year bought the shuttered Sapref refinery from Shell Plc and BP Plc to try and grow domestic production again.
According to the report, South Africa could draw even more fuel traders in the near-term as it seeks supply. Swiss commodities firm, Gunvor, was among companies shortlisted to buy Shell’s retail stations, people familiar with the matter said last month.
high, and public confidence in the government’s economic management is waning.
In addition, the President stated that without a responsive and reliable national security infrastructure that can protect lives and properties, the economy will not perform optimally, and those who seek to harm Nigeria will impair and disrupt its way of life.
To this end, he stated that the administration is committed to the security and safety of the people, explaining that protecting the people and their peaceful way of life is the utmost priority.
“Since I assumed our country’s leadership, our administration has improved collaboration among security agencies, increased intelligence-driven operations, and better ensured the welfare of our armed forces and security personnel. I use this opportunity to salute the courage and everyday sacrifice of our service men and women.
“We may not always witness the tremendous efforts they make to keep us safe, but we benefit every day from the results of their dedication. Even if we do not thank them often enough, they willingly face danger so we can go about our lives freely and without fear.
“Our military, police, and intelligence agencies are committed to always responding to emerging security threats and new challenges because it is the patriotic duty they owe a grateful nation.
“Amid the new security challenges, we can report some successes. In some areas of the northwest, hitherto under the control of bandits, our gallant armed forces have restored order, reducing and eliminating threats to lives and livelihoods.
L–R: Assistant Company Secretary, Abbey Mortgage Bank, Mr. Martins Bakare; Non-Executive Director, Mr. John Obasa; Managing Director/Chief Executive Officer, Mr. Mobolaji Adewumi; and Executive Director, Treasury and Business Growth, Mr. Oladipupo Adeoye, during the bank’s 33rd Annual General Meeting in Lagos, yesterday
Segun James
In line with its policy on “Pay-AsYou-Go,” Lagos State Government paid over N70 billion to 20,956 retirees across all categories of civil servants in the last five years.
That was in demonstration of the government’s commitment to enhancing the capacity of the public service workforce.
The government invested more than N1.5 billion in training, welfare and development programmes for
its employees in the last year.
Head of Service, Bode Agoro, disclosed the moves Wednesday during a press briefing to mark the second year of Governor Babajide Sanwo-Olu and Deputy Governor Obafemi Hamzat’s second term in
office, at Alausa, Ikeja.
Agoro stated that over N15 billion was paid to 6,024 retirees in 2024 to clear the pension arrears.
He said, “Mr. Governor has demonstrated unwavering commitment to clearing pension arrears. In year
Deji Elumoye in Abuja
President Bola Tinubu has appointed 41 additional persons to fill vacancies in the governing councils of some federal universities, polytechnics, and colleges of education. According to a statement issued on Wednesday by presidential spokesperson, Bayo Onanuga, the new appointees, their institutions, and states of origin included African Aviation and Aerospace University, Abuja – Hon. Chidi Nwogu, member, Imo State; University of Jos, Plateau State – Dr. Folashade Mulikat Kareem, member, Kwara State; Federal University of Technology, Ikot-Abasi, Akwa Ibom State – Dipe Olusina Adeniyi, member, Lagos State.
Others were Federal University of Technology, Babura, Jigawa State – Akanimo Umoh, member, Akwa Ibom State; Abubakar Tafawa Balewa University, Bauchi State – Mr. Babatunde Usman Jinadu, member, Lagos State; Federal University, Dutse, Jigawa State –Chijioke Paul Okeifufe, member, Enugu State; Federal University, Kashere, Gombe State – Hon. Babatunde Olokun, member, Ogun State; and Hon. Isah Ambaka, member, Nasarawa State.
The appointments also included Federal University, Wukari, Taraba State – Dr Olusegun Ategbole, member, Ondo State; Federal University, Gashua, Yobe State – Hon. Isa Song, member, Adamawa State; Hon. Bernard Miko, member, Rivers State; Federal University of Health Sciences, Ila Orangun, Osun State – Mr. Muyideen Balogun, member, Ogun State; Federal University of Agriculture, Zuru, Kebbi State – Hon. Mayegun Yomi, member, Lagos State; and Federal University, Gusau, Zamfara State – Hon. Abbas Braimah, member, Edo State. Still on the list were Federal University, Lafia, Nasarawa State – Dr. Adebimpe Adebajo, member, Ondo State; Nigeria Arabic Language Village, Borno State – Hon. Bawa Bwari, member, Niger State; Federal University of Health Sciences, Katsina, Katsina State – Hon. Bello Bagudu, member, Kebbi State; Hon. Nasarawa Mani, member, Katsina State; Federal Polytechnic, Isuochi, Ummoechi, Abia State - Hon. Shehu Kagara, member, Kaduna State; Federal Polytechnic, Oko, Anambra State – Dr Francis Ogbise, member, Bayelsa State; and Federal Polytechnic, Munguno, Borno State – Hon. Almajiri Geidam, member,
Yobe State.
The other appointees/institutions included Federal Polytechnic, Orogun, Delta State – Rahila Ilegbodu, member, Taraba State; National Institute of Construction Technology, Uromi, Edo State – Hon. Shehu Lambu, member, Kano State; Federal Polytechnic, Kaltungo, Gombe State – Hon. Yusuf Bello Mai Adua, member, Sokoto State; Hussain Adamu Federal Polytechnic, Kazaure, Jigawa State – Saleh Mohammed, member, Jigawa State; Federal Polytechnic, Daura, Katsina State – Hon. Adekola Aliu, member, Osun State; Federal Polytechnic, Offa, Kwara State – Waidi Olajire Ayinla, member, Osun State; Federal Polytechnic, N’Yak, Plateau State – Hon. Hashimu Abdullahi, member, Sokoto State; and Federal Polytechnic, Bali, Taraba State, Hon. Abdullahi Abubakar (At Ningi), member, Bauchi State.
There were also Federal College of Education, Gwoza, Borno State – Ibrahim Abba Geidam, member, Yobe State; Federal College of Education, Pankshin, Plateau State - Mohammed Nura, member, Kebbi State; Federal College of Education (Technical), Isu, Ebonyi State – Hon. Abdulkadir Usman Global, member, Kaduna State; Federal College of
A non-governmental organization, Gatefield has charged the federal government and stakeholders in the health sector to ban sales of flavored tobacco and prohibit the sale of e-cigarettes and vapes to children.
Health communication specialist Omei Bongos stated this in Abuja on Wednesday while speaking at the Mother’s March, to commemorate the World No Tobacco Day, stated that despite National Tobacco Control
Act that regulates tobacco, there are no regulations that prohibit the sales of e-cigarettes, vapes to children hence it should be banned.
Bongos explained that e-cigarettes and vapes are produced with fruits and candy mints making them attractive to children adding that the tobacco industry do this on purpose because they want children to be hooked but neglects the health injury it poses to them.
“e-cigarettes contains nicotine which is highly addictive and dangerous for children. There’s no compromise there.
So, I’m calling on the government as well to also not compromise, protect the health of children. Because the thing about the tobacco industry, they like to be one step ahead of us.
“The government just needs to take a stand and strengthen what we already have in our policies, and ban the sale of flavored tobacco, prohibit the sale of e-cigarettes and vapes to children.” he said.
She emphasized that government needs to strengthen policies on tobacco for adults not just children which can lead to addictions and endanger lives.
Education, Ekiadolor, Edo State – Hon. Usman Balkore, member, Sokoto State; Federal College of Education, Odugbo, Benue State – Hon. Goodluck Opiah, member, Imo State; Federal College of Education, Omoku, Rivers State – Hon. Bassey Etim, member, Akwa Ibom State; Hon. Chris Eta, member, Cross River State; Hon. Shuaib Yahaya, member, Katsina State; Federal College of Education (Special), Oyo, Oyo State – Hon. Sani M. Anka, member, Zamfara State; Federal College of Education (Technical), Keana, Nasarawa State – Hon Yusuf Dikko, member, Jigawa State; Federal College of Education, Ilawe, Ekiti State – Hon. Deacon Taiye, member, Kwara State; and Federal College of Education (Technical), Asaba, Delta State – Hon. Isa Lawal Doro, member, Katsina State.
2024, a total of N15,108,672,919.19
was paid to 6,024 retirees in the Mainstream, Local Government, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM) and other State Government parastatals.
“From May 2019 when the current administration began until December 2024, a cumulative sum of N70,198,214,414.11 had been paid to 20,956 retirees across all categories mentioned above.
“The settlement of these pension arrears is a monumental achievement in the Lagos State Public Service, reflecting Mr. Governor’s steadfast dedication to addressing the challenges faced by retirees in the state.”
The head of service added, “Additionally, Lagos State Pension Commission (LASPEC), on behalf of the state government, concluded sensitisation programmes for public servants in all the five divisions of the state.
“These programmes, held in October and December 2024, supported public servants to provide updated information for processing of their retirement benefits and ensured their records are current with their respective PFAs for seamless pension payment.”
Agoro disclosed that investments spanned multiple areas, including skills acquisition programmes, capacity-building retreats, industrial
training placements, and post-service welfare schemes for retirees.
A highlight of the report showed that 258 retirees benefitted from skills acquisition training in areas, such as fish farming, soap production, and natural fruit processing.
In addition, Directorate of Public Service Standard and Performance processed 133 approvals for postgraduate research across Ministries, Departments, and Agencies (MDAs), while over 1,657 students were placed in MDAs for the State’s Industrial Work Experience Scheme (SIWES).
The state also hosted several strategic conferences and retreats for civil service officers, including the 2025 South-west Strategic Meeting of Heads of Service and a retreat for HR Directors focused on leadership development.
“This strategic investment reflects our administration’s commitment to repositioning the public service for optimal performance and innovation,” Agoro said. He stated that the initiatives were in alignment with Sanwo-Olu’s THEMES+ development agenda. He said the initiatives had not only strengthened capacity, but also promoted innovation and professionalism across MDAs, ensuring that the Lagos State public service remains one of the most efficient in the country.
The House of Representatives has launched an investigation into alleged unethical practices in the disbursement of student loans.
It also mandated all tertiary institutions to immediately refund students who paid their tuition fees before their NELFUND loan disbursement.
The resolutions of the House were sequel to the adoption of a motion moved at the plenary on Wednesday by Hon. Aliyu Mustapha.
Moving the motion, the lawmaker said the Student Loans (Access to Higher Education) Act, 2024 was enacted to ensure transparent, timely, and equitable access to interest-free loans for all Nigerian students pursuing higher education.
Mustapha added that significant progress has been made in the programme so far, with over
half a million applicants and the disbursement of over N54 billion to beneficiaries across the country.
He recalled a recent report by the National Orientation Agency (NOA) alleging collusion between certain tertiary institutions and financial institutions to delay, divert, or conceal disbursement of student loans under the Nigerian Education Loan Fund (NELFUND).
Also, aware that the National Orientation Agency and NELFUND have uncovered that some institutions received loan disbursements but failed to notify beneficiaries or update financial records, which is a violation of the NELFUND guidelines, raising concerns over transparency and accountability.
The lawmaker stressed the Ministry of Education has initiated a probe into alleged unauthorised deductions from student loans by some universities, describing the act as a gross violation of public
trust and a breach of the Student Loans Act, 2024.
He expressed concern about reports of mismanagement and lack of proper verification, including instances where tertiary institutions upload inflated school fees on the NELFUND portal, cases of finalyear students receiving loans after graduation and disbarments made to tertiary institutions even after students have fully paid their tuition fees to avoid delays.
Mustapha expressed worry that violations of NELFUND guidelines by some institutions might have denied thousands of students their rightful access to loans and undermined the credibility of the loan scheme.
He was of the opinion that without robust oversight and enforcement, such violations might continue unchecked, undermining public confidence in the student loan programme.
L–R: Wife of the late Chief Raymond Dokpesi, Mrs. Mojisola
of Nigeria (CSN), Rev. Fr. Mike Umoh, during the ComWeek Public Lecture and Posthumous Award for the late High Chief Raymond Dokpesi by CSN in Abuja, yesterday
Backs president’s economic reforms, says they’ll yield result with time, not overnight
Buhari has rejoiced with President Bola Tinubu on his mid-term in office, saying as the party and the government celebrate, the country should be reminded that leadership is a continuous journey.
Buhari, in a statement, yesterday, by his spokesperson, Mallam Garba Shehu, called for steadfast support
Michael Olugbode in Abuja
As the country awaits President Bola Tinubu’s assent to the recently passed NDLEA Act, Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, and Chairman/ Chief Executive Officer of National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Rtd) said the law, when operational, would bolster the ongoing drug control efforts in the country.
The NDLEA Act had been passed by the National Assembly and now awaited signing into law by Tinubu.
Fagbemi and Marwa made the remarks during the opening ceremony of the Inter-Ministerial Committee on Drug Control meeting in Abuja on Wednesday.
The minister, who delivered the keynote address, said, “In the past four years, we have witnessed unprecedented efforts by the NDLEA. These achievements include arrests and seizures, convictions, elaborate evidence-based drug demand reduction interventions, using the War Against Drug Abuse
(WADA) social advocacy platform to sensitize communities on the dangers of drug abuse.
“Consistent gains have been recorded within the global space, by fostering international cooperation and building strong partnerships. NDLEA has sustained the fight with renewed energy and vigour, giving hope to the once hopeless situation.
“The Federal Ministry of Justice has worked together with the NDLEA to ensure that our national legal system effectively supports the drug control efforts of the agency. We are at the last lap of finalizing the amendment of the NDLEA Act, which will significantly enhance the organisational capability of the agency to control the menace of substance abuse and illicit drug trafficking in Nigeria.”
Fagbemi added, “The ministry is also providing appropriate support in the area of proceeds of crime management, essential to dismantling the financial networks of drug traffickers.”
While acknowledging the contributions of other law enforcement agencies and stakeholders to the country’s
drug control efforts, Fagbemi, who was represented by Director, Public Prosecution of the Federation, Mr. Mohammed Abubakar, stated, “The
work of this Inter-Ministerial Committee has been crucial in coordinating a whole-of-government approach to this top burner issue.
for the APC government as it marks its second year in offIce, explaining that reforms would achieve success gradually, not overnight.
The former president warned that necessary reforms and desired changes must not fall victim to nettlesome domestic politics.
He expressed support for the ongoing efforts by the administration to curb poverty and inflation, which he saidhad hit the poorest families the hardest, adding that the task of reducing poverty and
inflation mustn’t be left only for the government.
“The private sector and all of us as citizens must join in all ways we can,” he said.
Buhari urged Nigerians to remain optimistic and stay confident about the country’s future, saying, “Our expectations from our governments should not get heavy.
“I am wishing President Tinubu heartfelt congratulations on his two years in office. May you keep leading with wisdom and care.”
Adibe Emenyonu in Benin City
Edo State Government on Wednesday gave a window of restitution to cult members in the state to renounce their activities and turn over a new leaf, stating that those in possession of illegal arms and ammunition should surrender them to the authorities in exchange for amnesty. Governor Monday Okpebholo made this known yesterday while meeting with the leaders of Obagie, Oke-Oroma, and Amagba communities over land and insecurity concerns in
How Africa Can Leverage Decent Work Practices to Boost Economy
Onyebuchi Ezigbo in Abuja
The International Labour Organisation (ILO) has said that promotion of decent work practices and responsible business conduct will help strengthen economic integration and facilitate trade liberalization across the African continent.
In her speech at the National Dialogue organized by the federal government in Abuja on Tuesday with the technical support of the ILO and financial support from the Government of France under the France–ILO Agreement, Country Director of ILO Vanessa Phala said it is essential that businesses adopt practices that respect social and environmental standards to foster inclusive growth.
The ILO Country Director said
that promotion of sustainable and responsible investment and business practices will play a fundamental role in strategic initiatives such as Agenda 2063 to ensure that growth benefits all people and contributes to reducing inequalities. She said that the Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy (MNE Declaration) is a key international reference framework to drive collective action.
Phala said the dialogue came at a critical moment when as Africa’s largest economy and a key regional hub, Nigeria is striving to strengthen its competitiveness, attract responsible investment, and ensure that economic growth translates into decent jobs, social inclusion, and sustainable enterprises.
“Nigeria’s Agenda 2050 aims to build a resilient, private-sector-led economy, reduce reliance on oil, and promote green, inclusive development.
Phala said the dialogue will explore recent developments and emerging trends in responsible business conduct and how the MNE Declaration can guide concrete action in advancing responsible business practices for the realization of decent work.
Permanent Secretary Federal Ministry of Labour and Employment, Salihu Usman who declared the Dialogue Session open, urged multinational companies operating in the country to ensure they comply with decent work principles in keeping with the convention of the ILO.
Benin City.
While restating his administration’s resolve to develop the proposed new city around the communities, the governor said a technical committee will soon be announced to handle the restitution of cult members and criminally minded youths in a bid to reduce the menace of violent crime, including kidnapping.
“A major component of the amnesty programme for such youths will include skills acquisition and empowerment programme so that they can be useful to themselves and the society on the long run,” Okpebholo said.
He assured the community leaders of his support in bringing about lasting peace in their areas, especially as government embarked
on the development of the new city in their domain.
According to him, peace will be restored to all restive communities in the state, including Obagie, Oke-oroma and Amagba in Benin City.
He added that government was ready to listen to victims of property demolition by the immediate past administration, saying, “Those whose properties were affected should see the Committee on Land Resolution with their papers.”
The governor also stated that government was ready to carry out a regularisation of land properties in the affected areas so that property owners could have their lands back in other LOTS.
He called on property owners in the state to register their properties with Edo Geographical Information System. “Survey your land and register them with Edo GIS so that you can collect your land titles,” the governor said. In their reaction, the communities assured the governor of their support, especially in the development of the LOT ‘A’ in the new city and in his drive to improve the security of the communities.
On the development of LOT ‘A’ in the new city plan, the governor said government will look around and protect the traditional sites in the process of developing the new town while those in LOT ‘B’ could come forward with their documents to the committee once the process commenced.
Govt: We Are Moving
Circular Economy
The Lagos State Government on Wednesday reaffirmed its commitment to a transition from the “collect and dump” system in the waste management process to a sustainable circular economy in order to ensure a clean and livable state.
Speaking while featuring
Clean, Livable City
around the landfill sites at Olusosun in Ojota and Solous 3 in Igando. He reiterated that the state govern-
ment just signed a Memorandum Of Understanding (MOU) last Monday which has completion period of about 16-17 months in order to minimize the waste that ends up on the landfill sites because this is what obtains globally. He said the state has an arrangement that will convert waste to wealth, where organic waste becomes composite fertilizers, plastics waste will be recycled to big plastic dustbins and all these are measures to encourage Lagosians to build a proper waste disposal culture.
Tunji Ojo: Ministry was operating system plagued by inefficiency, dependency, bureaucracy
Over 4,000 inmates held for inability to pay N50,000 fines
Sunday Ehigiator
Nigeria’s Minister for Interior
Olubunmi Tunji-Ojo has revealed the ministry has cleared over N28 billion debts, and a 200,000 unprinted passport backlog he inherited from his predecessors, while likening the ministry’s past operations to a system plagued by inefficiency, dependency and bureaucracy.
He also revealed that before his appointment, over 4,000 inmates were held in the various correctional facilities across the country for their inability to pay fines as less as N50,000, or N100,000, till he intervened.
He made these remarks while speaking at the Access Bank Guest Lecture Series (GLS) event, recently held at Access Tower, Victoria Island, Lagos.
According to him, “When we go to the Ministry of Interior, the first question I ask is: what is the statutory role of the Ministry of Interior? And I’ll tell you the most important role we have, apart from border governance, is citizenship integrity.
“It’s the responsibility of the ministry. No foreigner comes into Nigeria. You can’t work in Nigeria without our approval, and data management.
When you get to the ministry for passports, people need to wait for months.
“We inherited a debt profile on passports of about N28 billion. There was no way, no money, but I promised myself I was not going to ask for intervention, but rather, we’ll go for innovation. We saw a ministry where, of course, all modules were working in silos, and we needed to align all
Harvard, MIT, others secure $4bn debt over funding freezes US president wants 15% cap on number of foreign students
President Donald Trump’s administration has ordered its missions abroad to stop scheduling new appointments for student and exchange visitor visa applicants as the State Department prepares to expand social media vetting of foreign students, according to an internal cable seen by Reuters.
US Secretary of State, Marco Rubio, said in the cable that the department plans to issue updated guidance on social media vetting of student and exchange visitor applicants after a review is completed and advised consular sections to halt the scheduling of such visa appointments.
The move comes as the Trump administration has sought to ramp up deportations and revoke student visas as part of its wide-ranging efforts to fulfill his hardline immigration agenda.
Several hundred protesters, including Harvard University students and professors, demonstrated in support of foreign students at the Harvard campus on Tuesday, while also protesting Trump administration efforts to cut off funding to the university.
In the cable, Rubio said appointments that have already been scheduled can proceed under the current guidelines, but available appointments not already taken should be pulled down.
“The Department is conducting a review of existing operations and processes for screening and vetting of student and exchange visitor (F,
M, J) visa applicants, and based on that review, plans to issue guidance on expanded social media vetting for all such applicants,” the cable said.
A senior State Department official confirmed the accuracy of the cable.
State Department spokesperson, Tammy Bruce, declined to comment on reports of the cable, but said the US will use “every tool” to vet anyone who wants to enter the United States.
“We will continue to use every tool we can to assess who it is that’s coming here, whether they are students or otherwise,” Bruce told reporters at a regular news briefing.
The expanded social media vetting will require consular sections to modify their operations, processes and allocation of resources, which advises the sections going forward to take into consideration the workload and resource requirements of each case before scheduling them.
The cable also advised consular sections to remain focused on services for US citizens, immigrant visas and fraud prevention.
Trump administration officials have said student visa and green card holders are subject to deportation over their support for Palestinians and criticism of Israel’s conduct in the war in Gaza, calling their actions a threat to U.S. foreign policy and accusing them of being pro-Hamas.
Last week, the Trump administration moved to revoke Harvard’s ability to enroll international students. Those roughly 6,800 students make up about 27 per cent of Harvard’s total enrollment.
The Republican president’s administration has moved to undermine the financial stability and global standing of the nation’s oldest and wealthiest university after it pushed back on government demands for vast changes to its policies.
Meanwhile, Elite American universities have secured over $4 billion in additional debt since March to protect their finances amid the Trump administration’s funding freezes and proposed research spending cuts.
Harvard University, the face of the fight, has boosted its debt load 16 per cent after a bond sale in April. The Massachusetts Institute of Technology just ramped up its liabilities 18 per cent to $5.2 billion. Top-tier schools have sold taxable bonds, taken out private loans, and increased capacity for commercial paper, according to data compiled by Bloomberg.
Colleges are using a recession-style playbook to respond to the Trump administration’s large-scale funding freezes and proposed research spending cuts. House Republicans also hiked the endowment tax in a bill that now moves to the Senate.
The nation’s wealthiest colleges are getting a taste of the financial pressure that has long hit small colleges in the wake of the pandemic as they struggle to boost enrollment and stay afloat.
The A-list schools haven’t explicitly spelled out what they’re using the money for. But taxable debt can be used for a wider array of purposes
than the tax-exempt bonds that universities typically sell.
A spokesperson for Brown University, which took out a $300 million private loan, acknowledged “the uncertainty regarding future federal policy related to research and other important priorities.”
And a representative for MIT said it tries to manage for a “wide range of conditions” and the bond deal would help it do that.
the modules.
“When we came onboard, we inherited over 200,000 passports, unprocessed, unprinted, because there was a debt of N28 billion. And in less than three weeks, we cleared it.
“It was a system plagued by inefficiency, dependency, and bureaucracy. But rather than seeking budgetary interventions, we sought innovation.
“We implemented, E-Visa Solutions for short-term visitors, cutting processing times to less than 48 hours; Contactless Passport Renewals in the diaspora, enabling Nigerians abroad to renew passports on their smartphones without visiting embassies; A world-class Tier 4 Data Centre powered by solar energy and three-tiered redundancy systems, ensuring 24/7 uptime for immigration systems globally; Integration of our E-Gates with Interpol and other global databases to enhance border security; Advanced Passenger Information (API) systems to vet travelers even before they board flights to Nigeria.
“We did all these without a single kobo from the government. Innovation paid for innovation. And that is my message to you: ideas are the true capital of a nation, not money. Never see funding as your biggest barrier. Your greatest asset is your creativity, your integrity, and your capacity to execute.”
On prison reforms, he said: “One
of the most neglected but a critical area under the Ministry of Interior is our correctional system, what we commonly refer to as the prison service. When we assumed office, we were confronted with a system that dehumanised inmates, burdened the public purse, and failed to rehabilitate.
“Over 4,000 inmates were being held for their inability to pay fines as little as N50,000 or N100,000. Some had been in custody for years for minor, nonviolent offences. This wasn’t just a legal issue, it was a moral crisis. How can a nation claim justice when its system punishes poverty more than crime?
“We intervened. Working with private partners and philanthropic individuals, we secured the release of thousands of these inmates. But we didn’t stop there. We have since begun building a sustainable model for correctional reform.
“We are focusing on rehabilitative programming, including skills acquisition and psychological support; Digital tracking of inmates and cases, ensuring no one is lost in the system; Creating a framework for private sector participation in correctional centre reforms through Public-Private Partnerships (PPP), and above all, redefining the correctional experience to reflect dignity, justice, and rehabilitation, not punishment for poverty.
Michael Olugbode in Abuja
Seven private security outfits have been sealed by the Nigeria Security and Civil Defence Corps in Abuja, the Federal Capital Territory.
The operation was carried out on Wednesday by the Federal Capital Territory Command of NSCDC as part of a broader enforcement effort to ensure compliance with the guidelines on establishment of private security outfits.
The FCT Commandant of the NSCDC, Dr. Olusola Odumosu, who led the enforcement team, stated that “six of the seven companies had no operational licences, while the seventh was operating with an expired licence.”
Odumosu said such violations pose serious threats to internal
security, especially in a sensitive area like the FCT.
“We are the regulatory agency and there is a need to conform and comply with the extant law.
“The provision of the law is that before you can operate a private guard company in Nigeria, you must not only register with the Corporate Affairs Commission but also obtain an operational licence approved by the Minister of Interior through the NSCDC,” the Commandant said.
He decried that some of the illegal operators hire unverified individuals, including foreigners, without proper background checks.
Odumosu said: “Some of these operators of the private guard companies do not understand the implication of the action to
national security.”
He noted that in some cases, private guards had been implicated in criminal activities, including kidnappings and robberies, often targeting their own employers.
The commandant added: “I know how many of such cases we have had to deal with where the guards are responsible for kidnapping of the people who employ them and in some cases, we have had a series of cases where it is this same guard that will plan a robbery operation within the precinct of the environment. So, we cannot allow this to happen.” He also raised concerns about foreign ownership, noting that one of the sealed companies was reportedly being run by Chinese nationals.
Nume Ekeghe in Abidjan
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday dismissed widespread claims suggesting that the country plans to borrow $25 billion within one to two years, calling such impressions as totally erroneous and misleading. Responding to a THISDAY question on the sidelines of the ongoing African Development Bank (AfDB) Annual Meetings in Abidjan, Côte d’Ivoire, Edun clarified that the figure being widely circulated misrepresents the government’s statutory external rolling borrowing plan submitted to the National Assembly as part of its medium-term expenditure framework.
President Bola Ahmed Tinubu had on Tuesday, formally requested the approval of the National Assembly to secure a new wave of multi-currency loans amounting to approximately $23.5 billion, €2.265 billion, ¥15 billion, and N757.9 billion.
Specifically, the President is seeking approval for the capital raising of up to $2 billion in the domestic debt market. This, he said, was to ensure the implementation of the Presidential Executive Order on foreign currency-denominated financial instrument local issuance programme. Also, the President requested the approval of the legislative arm for the federal government’s 2025-2026 external borrowing plan. But Edun revealed that the actual borrowing plan for 2025, was $1.2 billion through the Debt Management
Office (DMO) and up to $2 billion via the multilateral borrowing programme. These, he said are tied to specific projects and would be disbursed over time, not in a lump sum.
He said: “The submission of the external rolling borrowing plan to the National Assembly is an obligation under the Medium-Term Expenditure Framework as well as the Debt Management Office Act.
“We are required every two years to submit a three-year rolling plan of external borrowing. It gives a picture of the projects the country plans to finance federal projects, state projects, and regional projects that cut across multiple states. These include road projects, rail, ports, irrigation, agriculture, health, and education.
“But the impression that Nigeria will borrow $25 billion in one or two years is totally erroneous and incorrect. That is a misinterpretation of the external rolling borrowing plan.
“If you want to know how much will be borrowed in a given year, according to our plan, in 2025 the external borrowing is just $1.2 billion by the DMO and up to $2 billion under the multilateral borrowing program.
“This multilateral borrowing is tied to specific projects, and the funds are disbursed over time. It’s concessional, cheap financing from the likes of the World Bank, African Development Bank, JICA, AFD, and others.
“So again, it’s totally wrong to assume Nigeria would borrow $25 billion in a single year.” Edun, while commenting on the
AfDB’s African Economic Outlook report, which forecasted that Nigeria’s inflation could fall to around 17.3 per cent by 2026. He noted that the projection reflects a positive response to the government’s ongoing macroeconomic reforms.
“Nigeria’s inflation rate is expected to drop due to the stabilisation of the exchange rate, which has come down from its highs and is projected to at least remain stable, if not decline,” he said.
He also highlighted improved food production, ramped-up agricultural
activities, and competitive pricing in the petroleum sector, particularly due to local refining and the transition to Compressed Natural Gas (CNG), as key drivers of anticipated disinflation.
Edun explained that the combination of these reforms have begun to restore confidence and would continue to moderate price pressures in the medium term, aligning with AfDB and World Bank outlooks.
“Nigeria’s inflation rate is projected to drop to around 17.3 per cent. That is very much a function of the exchange rate having stabilised. “If anything, it
has come down from its highs and is projected to at least remain stable, if not decline. That’s a big factor in inflation.
“Secondly, food inflation, there’s been a ramp-up in agricultural production, and that effort is set to continue. We’ve seen that with the advent of local refining of petroleum products and competition.
“There’s local refining, but still competition in that sector, which, along with the shift to Compressed Natural Gas (CNG) a lower-priced form of fuel is leading to lower fuel
prices.
“When you add all those factors together, plus the fact that with the exchange rate Nigeria has now, we are competitive in terms of manufactured exports these are some of the factors contributing to increased production and lower prices, helping to anchor and hopefully bring down inflation.” Furthermore, he offered insight into Nigeria’s strategy under the African Continental Free Trade Area (AfCFTA), stating that the country was now positioned to benefit significantly from its newly stabilised economy.
The federal government, yesterday, tendered three video clips including one where the detained pro-Biafra agitator, Nnamdi Kanu, was seen inspecting a radio transmitter allegedly smuggled into the country.
The Radio Biafra transmitter known as “Tram 50L” was allegedly kept at Ubuluisiuzor in Ihiala Local Government Area of Anambra State, where the defendant was said to have carried out the inspection.
But Nnamdi Kanu has informed trial judge, Justice James Omotosho
of the Federal High Court, Abuja, that the statement he volunteered to the Department of State Service (DSS), in October and November 2015, were made under duress. But Kanu’s claim was dismissed by the third prosecution witness, Mr CCC, during the trial-within-trial, that DSS used threats of solitary confinement to extract statements from him.
Kanu had claimed that one Mr Brown, a DSS operative, made the threat about solitary confinement in the ‘dungeon’ but the witness clarified that the names of the officers who took part in the interview
were James, Ibrahim and Collins, with no Mr Brown among them.
The witness claimed that contrary to Kanu’s position, the defendant was given presidential treatment and expressed shock at the allegations of using any form of force to get him to make certain statements, including calling Presidents Jonathan and Buhari unprintable names, and also alleging that Senator Rochas Okorocha ‘Islamised’ his people.
The Biafra nation agitator was said to have made the alleged statements when he granted an interview with a US-based online medium known as Sahara Reporters.
Chuks Okocha in Abuja, Emma Okonji and Agnes Ekebuike in Lagos
Embattled National Secretary of the Peoples Democratic Party (PDP), Senator Samuel Anyanwu, has said it was an aberration to attempt to remove him without the convocation of a national convention where the decision would be taken. He, therefore, said the fact-finding report of the governors and National Caucus of the party had settled the issue of who was the national secretary of the party.
This was as a former National Legal Adviser of the party,Jacob Mark, has given a fresh insight into the crisis plaguingthe PDP, saying the controversial Minister of the FCT was the main cause. He also defended the alleged presidential bid of the Oyo State governor, Seyi Makinde.
However, referring to the report of the governors’ fact-finding report, he stated that there was no vacancy in the office of the national secretary. Anyanwu’ who spoke to the PDP Press corp and stated that the office of the national secretary was specifically zoned to Imo State, said
to hurriedly remove him from office without due process would have dire consequences for the party in the forthcoming national convention and some off-season elections between now and December 2025 as all correspondences between the party and INEC must be signed by him.
According to Anyanwu all the states in the south east has a National Working Committee offices zoned to it
‘’For instance, the National Deputy Treasurer comes from Enugu State.
The National Auditor from Anambra State. The Deputy National Legal
Adviser, Abia State. The vice national chairman is from Ebonyi.
‘’So you can see that it is wickedness for anybody that wants to take something from Ebonyi State and put it in Anambra State, when positions are evenly distributed.
“But assuming that I am no longer the National Secretary, for instance, whoever that replaces me must come from Imo State. Besides, National Secretary of a party is for the entire south. I was not elected by only southeast.
“I was elected at the convention by the entire nation. I represent the
nation but it’s very disheartening that the governor of Enugu State insisted that this must go to Enugu State, when Enugu already has somebody.
‘’And by the way, is there any vacancy? There’s no vacancy. In 2023, I wrote to the party that I’m going to run election and I took leave. I wrote to INEC that while I’m on that leave, my deputy will act and so he did.
“So, I think that, for me, there’s only one people, a group of people, that can make or mar a situation or in the organisation, and that’s the press,” he said.
The witness added that Kanu had in the same interview used the term ‘Zoo’ to refer to Nigeria.
The DSS had claimed that Kanu made three written statements at its Headquarters on October 23rd, 24th and November 4th, 2015. These statements along with video recording of his oral statements of October 21 and 23, 2015 were also tendered.
Responding, Justice Omotosho ordered for a trial-within-trial to clear the air on the admissibility or otherwise of the statements the defendant claims were gotten under duress.
•The judge, in a ruling, said, “It is law that whenever an issue of involuntariness is raised, the Evidence Act and the law” requires that an order for trial-within-trial be made to determine whether a statement was taken under duress or otherwise. He added that establishing duress will therefore make the statement in contention inadmissible.
•Omotosho further informed parties in the case that at the end of the trial-within-trial, the court will also rule on how the absence of the defendant’s lawyers affected the case of the defendant.
•In the three footage played in court by the prosecution to prove that Nnamdi Kanu made his statements voluntarily, the Biafra nation agitator admitted to being the founder and director of Radio Biafra.
Tinubu has exposed you as unreliable, lacking pedigree, Sule Lamido fires back at minister PDP headquarters remains sealed despite president’s directive
Chuks Okocha and Olawale Ajimotokan in Abuja
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has justified the decision of the FCT administration to repossess properties belonging to ground rent debtors, saying he would not be deterred by blackmail.
But a chieftain of Peoples Democratic Party (PDP), Alhaji Sule Lamido, said President Bola Tinubu had by his intervention in the FCTA ground rent saga, exposed Wike as an unreliable man without tradition and pedigree.
However, over 48 hours after Tinubu’s directive to unseal the confiscated properties, the national headquarters of the main opposition PDP was still under lock and key yesterday.
Briefing journalists, yesterday, after inspecting some of the projects lined up for commissioning by the president to mark his second year in office, Wike said ground rent remittance was one of the sources of income for the FCT administration, and vowed to take over the properties of defaulters if they refused to take advantage of the two-week grace for payment granted by Tinubu.
He stated, “I can assure you the president has given a window of two weeks. Let nobody think that blackmail or whatever will stop us.
“We will do what we are supposed to do. This is all about leadership. We will not give in to blackmail. We will do the right thing. If you have not paid, we will take.”
He lambasted the elite that owned
properties in upscale districts for refusing to pay their mortgage, stating that the FCT is not an oil producing state, but relied solely on taxes for provision of infrastructure.
Wike said the administration was managing available resources prudently, and assured that FCT would be different if the public paid their taxes.
The former governor of Rivers State said, “It is unfortunate that most elite own houses overseas. They know the implication of not paying your taxes. They know such houses are gone.
“But when it comes to your own country, you do not want to do that, simply because nobody wants to obey law and everybody thinks there are no sanctions. And I have said it, that it did not happen yesterday does not
mean it will not happen today.
“That it did not happen today does not mean it will not happen tomorrow. So, we must live. We must do something to say that we are also supporting government to see that the infrastructure that we need, we do our own part.”
He disclosed that the FCTA was considering increasing the ground rent as the rate charged in the past 20-30 years was no longer realistic.
Wike also dispelled reports that the explosion that rocked MararabaNyanya axis of Abuja on Monday and injured one person was caused by a suspected suicide bomber.
He said the victim of the blast infiltrated into a quarry, where rock was blasted and indiscriminately took an explosive in his pocket, without
understanding the implication.
The minister stated that the explosive later exploded on the victim, reportedly, at the bus stop opposite the Mogadishu Cantonment in Asokoro.
He clarified that he had not gotten any report that the person was a suicide bomber, saying it is not correct to impute otherwise.
Wike stated, “Well, be careful not to create an impression. The security never said it was a suicide bomber. So that you don’t go and create an impression and put fear in people. You should try to do what we call investigative journalism. NEMA is not the head of security. Security agencies are there.
“What happened there was that somebody went to where we have these quarries, where they blast all these rocks and took the explosive and put it in his pocket. Of course, some of them may not even understand the implication of that. And so, it exploded on him.
Sule Lamido, said President Bola Tinubu had by his intervention in the FCTA ground rent issue exposed the FCT minister as an unreliable fellow without tradition and pedigree.
Lamido described Wike as a disaster and an ingrate bent on destroying the party that gave the platform that brought him to political relevance, stressing that Tinubu may likely abandon him very soon to save his government from further embarrassment.
The former minister of foreign affairs told journalists that while Wike claimed to love PDP, he was frontally undermining it and questioned why he was still in the party.
Lamido stated, “Here is someone who was honoured by the PDP, brought into relevance by the PDP, and now turns around to fight the very party that made him.
The Senate yesterday considered and passed the N1, 814,073,708,392.00 Federal Capital Territory 2025 Budget Proposal. This followed the consideration of the report of the Committee on the Federal Capital Territory (FCT) and FCT Area Councils & Ancillary Matters on the Appropriation Bill, 2025.
The Senate approved the authorisation from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital
Territory Administration Account, the total sum of N1,814,073,708,392.00.
The Sum of N150,353 ,906,168.00 is for Personnel Costs; and the Sum of N352,029,677,448.00 is for Overhead Costs while the balance of N1,311,690, 124,776.00 is for Capital Projects.
Also, the Senate, yesterday, passed for second reading, a Bill seeking to authorise the issue out of the River State Consolidated Revenue Fund, the total sum of N1.481 only for the year ending on the 31st day of December, 2025. Bamidele said the budget was
specifically for the Emergency Rule Government of Rivers State, aimed at providing essential services such.
The sum of N 324 billion was allocated for road projects and public transportation upgrades
He said nearly N32 billion was earmarked for agricultural transformation to boost youth engagement in farming.
The Senate Leader added that over N75.6 billion was allocated for improving learning environments and ensuring access to free basic education
He said N166.5 billion (14.4%
The Nigerian military has said it was adequately prepared to counter drone attacks by terrorist groups whenever they acquired cutting-edge weapons, such as drone technology.
The Air Component Commander of Operation Udo Ka, Air Commodore Dooyum Laha, said this while briefing defence correspondents on a biannual media tour of the Joint Task Force South East, Operation Udo Ka, in Enugu.
Represented by Operation Officer, Squadron Leader Larry Azih, the
Air Component Commander said the challenges affecting their operations in the South-east included poor weather conditions, congested terrain, as well as the limited availability of ISR platforms. ISR platforms, he said, were in high demand because of ongoing operations across all theatres of operation, especially in the North. He, however, noted that the military was leveraging technology to overcome these challenges.
“We have imaging technology that can detect the location of these criminals hiding under the canopies
of shrubs in the rainforest. We are also using signal GPS technology and mastering the terrain. We are using a mixed strategy to surmount these identified challenges.
“It is no longer news that drone technology has gotten into the hands of terrorists all over the world. They are actively making use of this technology, and it is only a matter of time before it gets here.
“Luckily, the Armed Forces have taken proactive steps. We have made efforts to acquire anti-drone technology that can easily destabilise the plans of terrorists to attack troops with drones.
of the budget) was set aside for major healthcare projects, including completing zonal hospitals and general hospitals.
He also said that approximately N6.2 billion allocated for digital resource centers, sports development, adding that Women Affairs is N 5.2 Billion was earmarked for social inclusion.
“That does not mean that it is a suicide bomber. So, we should be careful in the story we plant. And let’s not send the wrong message to the residents. You have said that the residents are also aware that there is improvement in security.”
Tinubu Has Exposed Wike as Unreliable, Lacking Pedigree, Says Ex-Gov Sule Lamido
Former Jigawa State governor,
“Wike is, quite frankly, a disaster. What he has done is un-African and un-Nigerian. I don’t understand how someone, simply because of his own ambition, can take things so personally and act so destructively.
“There used to be a party culture that prioritised collective good, something altruistic, but that seems lost now.
“To seal the PDP secretariat, a party that produced you, nurtured you, no matter your grievances, no matter your bitterness, it is like destroying your own home. Yet, he claims he financed the party.
The ActionAid Nigeria, has called for a renewed commitment to governance that prioritises the needs and voices of ordinary citizens.
The NGO in a statement on the second year anniversary ofPresident Bola Tinubu, stated in statement by its Country Director, Andrew Mamedu, that while some economic reforms and policy efforts have been initiated at the national level, the true measure of progress lies in how these actions impact the daily lives of Nigerians beyond policy announcements, media headlines, or online narratives.
“In the last two years, Nigeria has experienced both gains and challenges across different sectors of the economy.However, critical
issues persist, including growing poverty, increasing inequality, underinvestment in education, persistent gender disparity in political representation, sexual and gender-based violence, and a shrinking civic space that stifles citizen engagement.
“The administration’s appointments also reflect this lack of inclusivity, only about 10% of ministers are women, far below the African Union’s 35% gender parity benchmark. Furthermore, regional imbalance in appointments has triggered discontent, deepening feelings of marginalisation among somegroups.”
He further noted that, “We believe the time has come to prioritise development over politics.
President Tinubu’s administration
must shift focus from headline economic figures to tangible improvements in people’s lives.
“While paying off parts of our national debt is commendable, it is difficult to reconcile with the government’s continued accumulation of multi-million-dollar loans. How is any of this easing the daily struggles of the market woman, the out-of-school child, or the unemployed youth in reality?
“Nigerians are calling for a clear and resolute stance from President Tinubu in the fight against corruption. High-profile cases like that of Betta Edu, accused of misappropriating social investment funds intended for vulnerable citizens, have sparked widespread outrage, yet no convictions or meaningful resolutions have emerged.
Group Head, Structured Trade & Commodities Finance, The Alternative Bank, Mr. Gbenga Awe (left), and Acting Vice Chancellor, Plateau
during the signing of the Memorandum of Understanding (MOU) on the transfer of the Alfalfa Cultivation Project to the university in Jos, Plateau State...recently
Laleye dipo in minna
Gunmen believed to be Boko Haram elements have raided three communities in Munya Local Government Area of Niger State killing yet unknown number of villagers and rustling not less than 200 cattle.
The armed men also burned the Joint Security Task Force Camp in Kuchi, one of the villages attacked by the marauders.
Sources said the other villages attacked by the gunmen were Zagzaga,and Chibani where the bandits carted away many food items from the barns of the villagers.
The raids which started in the early hours of last Tuesday lasted for almost 24 hours without any resistance from security men who were reported to have taken to their heels because of the number of the gunmen.
Francis sardauna in Katsina
The Coalition of Civil Society Organisations (CSOs) in Katsina State has decried what it termed alarming manpower shortage and lack of functional life-saving equipment at primary and secondary healthcare facilities in the state.
The CSOs said medical doctors, nurses, consultants and technologists had abandoned hospitals in the state due to poor remuneration and other impediments in search of greener pastures elsewhere.
Addressing journalists on the mid-term of Governor Dikko Umaru Radda’s administration last Tuesday night, the state Chairman of the coalition, AbdurRahman Abdullahi, said the brain drain has affected healthcare service delivery in the state.
He said: “Despite the achievements recorded in the health sector so far, there are some teething challenges that we believe could be obstacles to attaining the overall objectives of this administration in the sector.
“Among such is an alarming human resource gap at the primary and secondary healthcare levels in the state. Two key facilities-Turai Yar’Adua Maternity and Children Hospital and General Amadi Rimi Specialist Hospital-are severely affected by the brain-drain.
“Many qualified, high ranking and hard to find health professionals, including consultants, nurses and technologists have exited the system over time due to poor welfare conditions, wrong posting, retirements or better opportunities elsewhere.”
Shafa Energy, a subsidiary of AYM Shafa Holdings Limited and leading provider of sustainable energy solutions, has announced the launch of Shafa CNG.
This initiative, according o the company, aligns with the President Bola Ahmed Tinubu’s administration commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs, and the Nigerian government’s vision for a cleaner and more sustainable energy future.
Speaking on this development, Executive Chairman AYM Shafa Holdings Limited, Alhaji Yakubu Maishanu, said: “Shafa CNG represents a major step forward in our commitment to sustainable energy solutions. This initiative not only aligns with the federal government’s
vision for a cleaner and more affordable energy future but also demonstrates our dedication to reducing our environmental footprint and enhancing the lives of Nigerians.”
The removal of fuel subsidies in 2023 in Nigeria accelerated the adoption of CNG as a more cost-effective option for fuelling transportation. The federal government has expanded CNG infrastructure, increasing conversion centres from 7 to 193 and attracting $440 million in private sector investment. And Maishanu explained that launch of Shafa CNG is part of the Presidential Compressed Natural Gas Initiative (P-CNGi), launched in 2023, which targets the launch of one million CNG vehicles by 2027 and involves establishing 1,000 conversion and refuelling stations.
A villager said the gunmen were about 100 and were heavily armed which made the few security men at Kuchi to take
to their heels.
The villager lamented that: “We raised the alarm through one of our contacts in Minna, to
help us inform the authorities of the movement of the bandits but nothing was done. “They were there in the bush for over five
hours before carrying out the attacks; the people saw them, but they were many in number and were riding on motorcycles.”
The Nigeria Immigration Service (NIS) has cracked down on 127 suspected foreign nationals at involved in various cybercrime activities and irregular migration at Hotoro Ring Road area of Nasarawa Local Government, Kano State.
The Comptroller of Immigration in Kano State, Kabir Danja, stated that the arrests were made during a targeted operation based on credible intelligence, which uncovered a hideout used by the suspects for cybercrime activities.
According to him, “A total of
206 individuals were arrested, including 86 Nigeriens, 41 Chadians, and 80 Nigerians. Of the 206 suspects, 185 were males and 21 were females between the ages of 25 and 35 years.”
He noted that the 80 Nigerian nationals among the arrested individuals have been transferred
to the custody of the police for further investigation and prosecution.
The comptroller revealed that most of the 127 foreign nationals had entered the country illegally through unauthorized entry points and did not have the required residence or travel documents.
alex Enumah in abuja
Social critic and legal practitioner, Dr Sam Amadi and indigenes of Mbaishii community in Ngor/ Okpala Local Government Area of Imo State, have called on President Bola Tinubu, to order the immediate withdrawal of
military personnel and other security agencies from over 30, 000 hectares of farmland allegedly taken over by the state government.
They made the call yesterday in Abuja, during an interaction with journalists on the alleged forceful and illegal take-over of
lands in Mbaishii community.
Representatives of the community, specifically accused the Imo State Government of taking their farm lands and giving to one Evangelist Ebuka Obi and his Zion Ministry incorporated for church business and profit making.
While they claimed that no form of acquisition of the 30,000 hectares of land took place at any time, Spokesperson of the group, Dr Ugo Jim-Nwoko challenged the Imo State Government or anyone to present documentary evidence to the contrary.
Bassey inyang in Calabar
The Cross River State Governor, Senator Prince Bassey Otu, has been given the thumbs up for placing the interest of the people of the state above his or any other interests.
The commendation was made Tuesday night at the Stewardship Dinner held in honour of the governor by the Forum of Special Assistants in the state.
Speaking in line with the theme of the event entitled: ‘People First in Action-The
Journey Thus Far’, the Chairman, Forum of Special Assistants, Cross River State, Mr. Andrea Ekeng Inyang, said in the last two years, the governor has demonstrated that the ‘People First’ mantra of his administration was not a fluke.
“Tonight, we gather not
merely to mark two years of governance.
“We gather to honour two years of courage, compassion, and visionary commitment.
“We gather to celebrate a leader who has not just sat in office but has stood with the people.
James sowole in abeokuta
A non -governmental organisation (NGO), Centre for Women’s Health and Information (CEWHIN), has charged media practitioners to be proactive and ethical in their reporting while actively engaging in efforts to eliminate Violence Against Women and Girls (VAWG).
The Executive Director of the organisation, Mrs. Atinuke Odukoya, gave the charge in her opening address at a Strategic Media Hangout held in Abeokuta, Ogun State.
The event aimed at fostering collaborative efforts among religious, traditional, and media stakeholders in addressing and preventing violence against women and girls.
The event featured prominent resource persons, including a veteran broadcaster, Mr. Eddy Aina, who delivered the keynote address entitled: ‘Ethical Media Reporting on the Prevention of Violence Against Women and Girls: Balancing Truth, Sensitivity, and Impact’.
The Alternative Bank has formally handed over the Alfalfa Cultivation Project to Plateau State University (PLASU) as part of its commitment to advancing agricultural research and sustainability in Nigeria. This initiative, structured under a corporate social investment (CSI) framework, aims to deepen
research into the viability of Alfalfa farming, an essential livestock feed with the potential to revolutionise Nigeria’s livestock value chain. The project, initially piloted in partnership with sector experts and PLASU, provides critical insights into optimising local Alfalfa cultivation for scalable impact.
With this handover, PLASU will spearhead further research and development while engaging the Plateau State Government to explore widespread implementation. The Alternative Bank will continue to provide funding and strategic support
to ensure long-term success.
Speaking on the significance of this initiative, Group Head, Structured Trade and Commodities Finance, The Alternative Bank, Mr. Gbenga Awe, stated: “This partnership is not just about cultivating Alfalfa. It’s about building a sustainable ecosystem.”
Kwara NUJ Correspondents’ Chapel Loses Member, Unilorin VC Mourns
Hammed s hittu in Ilorin
The Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Kwara State Council, yesterday expressed deep sorrow over the passing of one of its members, Mr. Saka Laro, a reporter with News Direct Newspaper. Laro died last Tuesday after a brief illness, and has since been buried according to Islamic rites.
In a statement jointly issued in Ilorin and signed by the Chapel Chairman, Abdulhakeem Garba, and Secretary, Kayode Abdulazeez, it said: “The union extends its heartfelt
condolences to the immediate family of the late journalist, the Daudu Agaka family in Ilorin West Local Government Area, and the entire NUJ family in Kwara State over the painful loss.”
Duro Ikhazuagbe
Three-time African champions Super Eagles of Nigeria defeated arch-rivals Ghana’s Black Stars 2-1 in the invitational Unity Cup tournament in London last night. It was the second victory for Coach
Eric Sekou Chelle in three games since taking charge of the Super Eagles. The invitational tournament was a game of two halves: the first half belonged to Nigeria while the second was for the Black Stars. Cyriel Dessers opened scores for the Super Eagles after just 14 minutes
with an assist from Remo Stars Sodiq Ismaila.
Barely five minutes after the goal, the Black Stars went into panic
Chelsea
beat Trinidad & Tobago in a five-goal thriller.
According to eye witness account, Jamaica enjoyed a two-goal lead before
However,
Trinidad & Tobago will now play the third-place match against the losers of the Jollof Derby Ghana.
Despite the fact that the Europa Conference League may be a third-tier Europe club competition, the victory of Chelsea over Betis meant so much to the Blues who have not smelt trophy of any kind since 1,202 days.
For the US-consortium that own Chelsea their ownership was tarnished by 1,201 days without a trophy but the moment captain Reece James lifted that trophy, the first in his captaincy, they earned valuable breathing room.
Todd Boehly was the first to go celebrate with the team after the
The Athletics Federation of Nigeria (AFN) is facing a governance crisis following the release, Tuesday, of new election guidelines by the National Sports Commission (NSC) for the National Sports Federations’ elections.
The guidelines—intended to standardize governance across federations—contradict key provisions of AFN’s constitution, raising concerns that Nigeria could face sanctions from World Athletics, including a potential ban from international competitions and withholding of grants and other funding opportunities.
The AFN constitution outlines a governance structure designed to maintain independence and safeguard the federation’s autonomy.
However, the NSC guidelines impose, inter-alia, new eligibility
criteria and voting restrictions which directly conflict with AFN Constitution.
According to sources within AFN, if the federation is perceived to be under excessive government influence, World Athletics could view this as a violation of international sports governance principles.
International Sports Federations view this as third party interference and have never been afraid of wielding the big stick.
In the past, federations all over the World, including Nigeria, have faced sanctions or outright suspensions for failing to uphold independent election processes. In 2022, Nigeria was banned from
all international basketball events following government intervention in the workings of the Nigeria Basketball Federation, NBBF.
The Federal Government had directed the immediate withdrawal of its national teams from all international competitions for two years which FIBA deemed an unnecessary interreference in the affairs of the NBBF especially after the Sports Ministry its guidelines for the conduct of the Federation’s board election in 2021.
World Athletics CEO, Jon Ridgeon, in 2021, wrote the then Minister of Sports, Sunday Dare, reiterating the international governing body’s stance that the Minister’s interference in the
internal crisis in the AFN between Ibrahim Shehu Gusau, its President then and some of his board members was needless and that only the athletics people could resolve the crisis in the Federation.
The NSC looks to be oblivious of this as it has taken the vindictive path by barring any person or persons who, inter-alia, “has not been involved in any media campaign to disparage the National Sports Commission, Nigeria Olympic Committee, its officials or the Federation in which he is vying for an elective office.”
This undemocratic step, as contained in the NSC eligibility rule, as contained in the Guidelines released, is alien to the eligibility rule (article 9) in the AFN Constitution (2023 as amended).
When passion meets purpose, magic happens and Guinness Nigeria’s Premier League Trophy Tour proved just that. From the historic city of Enugu to the energetic streets of Lagos, the tour not only brought one of football’s most iconic prizes to Nigerian fans, but also celebrated the heartbeat of the game—its people.
The tour’s first stop in Enugu was met with resounding excitement.
Fans of all ages swarmed the event venue, New Berries Park for a chance to behold the legendary Premier League
Trophy—an emblem of the sport they live and breathe. The atmosphere was electric: local dances, jerseys in the wind, Guinness™ in hand, and chants echoing across the venue.
Speaking during a presentation of the trophy to him at the Lion Building (Enugu State Government House), the Governor, Dr. Peter Mbah, expressed his delight of the occasion and commended Guinness™ Nigeria for choosing Enugu as the starting point of this tour.
“I am delighted to receive the iconic Premier League trophy today,
courtesy of our esteemed partners at Guinness™ Nigeria. This is more about Enugu’s legacy as the home of football in Nigeria and our future as a hub of sporting excellence,” he said, adding that like Guinness™, Mbah said, his administration sees sports as a powerful force for unity, inspiration, and growth.
Corporate Relations Director, Guinness™ Nigeria, Rotimi Odusola corroborated Mbah’s claim of Enugu being the Nigeria’s football capital, a reason, he pointed out, led to the
choice of the city as one of the cities for the tour.
He described the State as the spiritual home of sports in Nigeria, noting the exploits of Rangers International FC.
The ‘roar’ in Enugu became something of a whisper compared to the reception the tour got in Lagos, Nigeria’s entertainment capital as the tour reached its crescendo. From the bustling mainland to the shimmering skyline of the Island, the Premier League Trophy brought the city to life in ways few events ever do.
trophy lift, followed reluctantly by influential Clearlake Capital duo Behdad Eghbali and Jose Feliciano. The Boehly side and Clearlake side have not always seen eye-to-eye this season but this is a period of relative stability this season as the club decided they would stick with Maresca regardless of the result of their last two matches of the season. Chelsea still went on to beat Nottingham Forest to qualify for the Champions League and won against Betis to add silverware.
Olusegun Samuel in Yenagoa
Governor of Bayelsa State, Senator Douye Diri, has said the commendable performance of the state’s athletes in the ongoing National Sports Festival was the result of his administration’s investment in youths of the state, particularly in sports development.
Speaking during the 164th State Executive Council meeting in Government House, Yenagoa, on Wednesday, Governor Diri noted that sports was projecting the state in positive light as well as engaging youths productively.
He expressed delight over the performance of Team Bayelsa at the festival hosted by Ogun State, saying he received daily reports,
which indicate that the state, now second on the medals table, was doing quite well.
The Bayelsa governor implored the state’s athletes not to rest on their laurels and continue to compete effectively as they still have the chance to go ahead of Delta State that is currently tops.
He promised that the government will give a befitting reception and reward to the contingent at the end of the festival.
Diri also lauded the state’s female football team, Bayelsa Queens, for emerging champions of the Nigerian Women Professional League and qualifying to represent Nigeria in the Confederation of African Football Women’s Champions League.
Wale Igbintade
Jean-Claude Havyarimana, a passionate autism advocate and friend of The Zeebah Foundation, will take on one of the world’s toughest ultra-marathons, the 2025 Comrades Marathon on Sunday, June 8, 2025, in Durban, South Africa.
Known as the “Ultimate Human Race,” the legendary 90-kilometre Comrades Marathon will mark Jean-Claude’s 47th marathon.
This time, however, he is running for a higher purpose: raising funds to build Nigeria’s first dedicated Autism Therapy and Resource Centre.
Since 1921, the Comrades Marathon has tested the limits of human endurance, drawing runners from around the globe to tackle the
grueling route between Durban and Pietermaritzburg.
In this year’s “down run,” Jean-Claude will join over 20,000 runners in a celebrated South African tradition that embodies the spirit of Ubuntu—humanity, compassion, and community. But for Jean-Claude, it’s about more than personal achievement. He is running to support The Zeebah Foundation’s ambitious vision: establishing Nigeria’s first purpose-built Autism Therapy and Resource Centre in Abuja.
This groundbreaking facility aims to transform autism care in Nigeria and across West Africa, offering hope to thousands of families who currently have limited access to specialized services.
L–R: Head of Governance and Stability Block, the British High Commission, Abuja, Mr. William Robinson; Special Adviser to the President on Policy and Coordination & Head of the Central Results Delivery Coordination Unit (CRDCU), Hadiza Bala Usman; Senior Governance Adviser, Foreign, Commonwealth and Development Office (FCDO), Mr. Chris Okeke; and National Team Leader, Partnership for Agile Governance & Climate engagement (PACe), Mr. Ifeanyi Peters Ugwuoke, during a courtesy visit to discuss collaborations between the two entities on Wednesday
On 30th May 2018, then Imo State Governor, Rochas Okorocha added a new word to the vocabulary of politics in Nigeria. Explaining the nature of the democracy being practiced in our country on a Channels Television programme, Okorocha told his interviewer, Ladi Akeredolu-Ale, “If you come to my state and I have collected N500 billion, yet I can only show you boreholes and renovation of schools, but I can perfect the papers, that is Iberiberism.” Obviously baffled by the word he was hearing for the first time, Akeredolu-Ale asked Okorocha to explain what he meant. He got a crisp response: “Go and search for it in the dictionary.”
Of course, there was no such word in the English dictionary at the time. But it has since been established that Okorocha coined it from the Igbo word, Iberibe, which means deceit. And with linguists taking up his challenge, Urbandictionary.com has defined ‘Iberiberism’ as a “political ideology based on lack of substance, mediocrity, platitude and corporate greed.” In a milieu where political parties have been reduced to ‘coalitions’ of strange bedfellows devoid of any ideal beyond grabbing or retaining power, who can fault Okorocha’s summation?
Four years ago, I started a book I thought would be released last year to mark the quarter of a century of unbroken democratic rule in Nigeria. With the rider, ‘25 Defining Issues in 25 Years of Civil Rule in Nigeria (1999—2024)’, I felt there could be no better working title than ‘Democracy by Iberiberism’. Although the book was 80 percent completed, I eventually suspended work on it in April last year when I became distracted by other commitments and could not keep most interview appointments. Quite naturally, one of the people I interviewed was Okorocha who admitted coining ‘Iberiberism’ from the Igbo word Iberibe and justified it with what he described as a lack of vision that defines both the public and private engagements in our country. “In Nigeria today, nobody is interested in how to get the job done, the emphasis is always on perfecting the paperwork,” Okorocha insisted. “That’s why what you find in every facet of our national life is Iberiberism.”
I spent almost an hour with Okorocha, probing this strange but interesting concept and he had a lot to say, including illustrating his points with practical examples. There were also pushbacks, especially when I challenged his own ‘Iberiberistic’ dispositions as Imo State Governor. I reminded him of his failed attempt to anoint son-in-law, Uche Nwosu, as his successor. A smooth talker with an incredible sense of humour, Okorocha is difficult to pin down, but he made some compelling arguments on the situation in Nigeria. While other societies seek leaders with vision and imagination at all levels and spheres of life, according to Okorocha, “Nigerians are still trapped with making their choices based on certain primordial considerations. And because these leaders cannot give what they do not have, the system is now reeking with Iberiberism.”
Let me state from the outset that in the last 26 years, Nigeria has made considerable strides in many areas—even if we are not where we would want to be. First, the telephone that we were gleefully
told “is not for the poor” by the military leaders of a certain era is now in the hands of almost every Nigerian, thanks to a transparent auction process that inevitably revolutionised the sector and the economy. The two banking reforms of 2004 and 2008 by Chukwuma Soludo and Muhammadu Sanusi II have helped to put Nigerian banks on a sound footing. You only need to travel across the West African subregion to appreciate how robust our banking sector has become. Meanwhile, contrary to the apprehensions expressed at epochal moments, Nigeria earned the applause of the world with the manner we handled the Ebola Virus crisis in 2014 and the Covid-19 pandemic in 2020. From the debt deal to the Niger Delta amnesty, to the recent removal of subsidies in the downstream sector of the petroleum industry, there have been fundamental developments in our country under the current democratic dispensation. However, the more Okorocha expanded on the concept of ‘Iberiberism’, the more it also became clear to me that his description of the situation in our country today is apt. Especially against the background of how we have mismanaged the issues of identity and social fabrics, the struggle for power and control, human rights and the rule of law, as well as the challenge of transparency and accountability and the growing number of our citizens who live below the poverty line. Even though Nigeria retains the apparatus of a functioning state, it is obvious that the system has been rigged against the majority of our people. When you add how sundry cartels of criminal gangs have conspired to take our country by the jugular, the lack of electricity despite spending billions of dollars on the sector, the number of our young citizens who now ‘Japa’ either through the normal channels or the life-or-death route across the Sahara Desert and Mediterranean Sea, you get the picture of a country trapped in ‘Iberiberism’. These are some of the defining issues in the last 26 years captured in the uncompleted book. Hopefully, I will return to it in the coming years. But I am not going to read from the book of
lamentations today. As we mark 26 years of unbroken civil rule, it is worth noting that the current democratic dispensation didn’t come as a gift. It was wrestled from the iron grip of military dictators through blood, tears, and sacrifice. Even reporters like me have tales to tell. But there were many who paid the ultimate price: Kudirat Abiola, Bagauda Kaltho, Alfred Rewane, Shehu Musa Yar’Adua and far too many others whose names may never make the headlines. Perhaps as a reminder of how far we’ve come, a senior professional colleague and former House of Representatives member, Abdul Oroh has chosen to publicly present his memoir, ‘Demonstration of Craze: Struggles and Transition to Democracy in Nigeria’, today in Abuja. The book offers a compelling narrative of the tortuous path to civil rule in Nigeria and the role of many actors. Rich in anecdotes and flowing prose, reading through the 614 pages reminded me of the courage and tenacity of ordinary Nigerians and civil society activists who stood up to military brutality at great personal risk.
A journalist who later became Executive Director of the Civil Liberties Organization (CLO) before transitioning to politics, Oroh documents the intense struggles against the military juntas of Muhammadu Buhari, Ibrahim Babangida and the late Sani Abacha. What stands out in his account is the relentless assault on democratic values during that era. The annulment of the June 12 (1993) presidential election—now belatedly confirmed to have been won by the late MKO Abiola—remains a defining moment in our political history. The subsequent crackdown on dissent, which Oroh captures, illustrates the steep price paid for the democracy we enjoy today. Oroh also explores the complex relationship between domestic agitation and external pressure, particularly under Abacha when Nigeria became a pariah state.
Twenty-six years later, how well have we fared?
Oroh’s narrative suggests a gradual disconnect between the people and the political class that emerged post-1999. The struggle that began as a people’s movement became hijacked by opportunists, many of whom were in bed with the military and had no genuine commitment to democratic ideals. Oroh’s transition from activist to legislator and later
commissioner in Edo State offers interesting insights into the challenges of governance in Nigeria. He reveals some of the entrenched interests that continue to undermine our democratic experiment. In his book, the reporter in Oroh shines through. He takes the reader behind-the-scenes to reveal how godfathers operate while also explaining the intrigues involved in the role of a ‘placeholder’—a recent Nigerian invention in political surrogacy. With his background as a reporter, it is no surprise that Oroh’s recollections are very insightful. But he started by recounting the role played by Olisa Agbakoba, SAN, in the birth of what became a vibrant human rights activism in Nigeria as well as that by Clement Nwankwo, Ayo Obe, Femi Falana, Emma Ezeazu, Mike Ozhekhome and many others. “The story that Oroh tells is a unique personal and collective tale, reminiscent of Fela Anikulapo’s rhapsodic critiques of Nigeria’s democracy,” renowned academic, Professor Olu Obafemi wrote in his blurb. “The book is a work borne out of concrete lived experience and vivid imagination.”
The struggles chronicled in Oroh’s memoir remind us that democracy is not a destination but a journey that requires continued engagement. Yet, as things stand, the ‘demonstration of craze’ that characterized the pro-democracy movement in the eighties and nineties may need to be rekindled if we are to rescue our country from those who see politics merely as a path to power and privilege. As we therefore celebrate this milestone of 26 years of unbroken civil rule, we must recommit to the ideals that inspired the struggle against military dictatorship in Nigeria. We must insist on free and fair elections, respect for human rights, transparency in governance, and accountability from our leaders. We must also remember that democracy is not merely about periodic elections but about creating a society where every citizen has a voice and where government truly derives its legitimacy from the consent of the people.
May the sacrifices of those who fought for our democracy never be in vain. And may we find the courage to complete the unfinished business of building an egalitarian society that is devoid of ‘Iberiberism’.
Between 1991 and 1998, I authored three self-published books (Fortress on Quicksand, Poli-tricks and Abiola’s Travails) on the various contradictions in the transition to civil rule programmes of Generals Babangida and Abacha. I added a fourth, ‘The Last 100 Days of Abacha’ six years after the military left power. Although written at different moments, these four books capture distinct yet interwoven aspects of the bizarre political process that shattered the peace of our country. Combined, they piece together the threads of
those turbulent years. Titled, ‘The Ghost of June 12’, the book will be released on June 16 this year. Compiling these books into one is significant given the demographics of Nigeria. With over 70 percent of our population under the age of 30, it means that most of our citizens were born after the ‘June 12’ fiasco of 1993. But the book is more than a recounting of events. It is a reminder of where we have been and how easily history can repeat itself if we are not vigilant. For pre-order, those interested should contact www.rhbooks.com. ng or +2349092158968.
October
Flag-o of construction of 1,068km Sokoto-Badagry Superhighway
President Bola Tinubu reshu es cabinet Nigeria commences implementation of zero VAT and excise duties on pharmaceutical products and medical devices, in line with presidential directive
Nigeria exits Aviation Working Group’s (AWG) watchlist for non-compliance as rating rises to 75.5%.
November
Central Bank of Nigeria announces that Nigeria’s foreign exchange reserves have hit the highest level in 33 months.
President Bola Tinubu on State Visit to France
Port Harcourt Re nery resumes crude oil processing
President Tinubu attends G20 Summit, in Rio De Janeiro, Brazil.
President Tinubu hosts Indian Prime Minister Narendra Modi on rst visit to Nigeria.
President Tinubu attends Extraordinary Arab-Islamic Summit in Riyadh, Saudi Arabia.
December
President Tinubu presents 2025 budget, themed “Budget of Restoration: Securing Peace, Rebuilding Prosperity”. to a joint session of the National Assembly
Shell announces $5billion Final Investment Decision (FID) on Bonga North deepwater project
President Tinubu hosts German President Frank-Walter Steinmeier to State Visit Commissioning of Bola Ahmed Tinubu Technology Innovation Complex, for the Nigeria Immigration Service.
Release of N44 billion to settle pension arrears of FGN retirees under the Contributory Pension Scheme.
January
Federal Civil Service commences recruitment process
Groundbreaking of construction of ve Mini Lique ed Natural Gas (LNG) Plants in Ajaokuta, Kogi State.
February
President Bola Tinubu signs the N54.99 trillion 2025 Appropriation Bill into law.
Nigeria secures £1billion and $1billion nancing for manufacturers in the health sector from European Investment Bank and Afrexim Bank
Introduction of 50% subsidy (capped at N400,000) for cancer patients undergoing radiotherapy.
Nigerian Bureau of Statistics announces GDP growth of 3.84% year-on-year in 4th quarter of 2024, the fastest pace in 3 years.
President Tinubu approves $1.2billion performance-based nancing initiative for state governments to strengthen primary healthcare (PHC) systems.
African Union (AU) endorses Nigeria as African Digital Trade Champion under the AfCFTA Digital Trade Protocol.
President Tinubu signs North Central Development Commission bill
President Tinubu signs bill establishing Federal University of Environmental technology, Ogoni
March
South-West and South-South Development Commission signed bills into law.
Nigerian Youth Academy (NiYA)—a platform dedicated to skill acquisition and youth empowerment—unveiled.
125km Benin–Asaba Superhighway Project agged o , under a Public-Private Partnership (PPP) model
Signing of the commercial phase of the $1.1 billion Green Imperative Project to boost agriculture productivity between Nigeria and Brazil
Launch of the National Health Fellows Programme (774 Fellows).
Nigeria records highest-ever daily power generated of 6,003 MW
Reconstruction of Borno’s Alau Dam agged-o following presidential approval of N80 billion
April
Federal Government gazettes AfCFTA Provisional Schedule of Tari Concessions (PSTCs), establishing zero duties on 90% of goods traded within Africa.
May
Full repayment of $3.4billion IMF COVID19 assistance loan obtained in 2020
Reform the Economy for Sustained Inclusive Growth
1. Over $50billion in new Foreign Direct Investment (FDI) commitments
2. 2X-3X increase in federal allocation to State and Local Governments
3. 5X growth of Net FX reserves from 2023 to 2024, to $23.11bn, despite repayment of over $10 billion in debts
4. Highest GDP growth in three years: 3.84% in 2024 Q4.
Enhance Infrastructure and Transportation as Enablers of Growth
750km Lagos-Calabar Coastal Highway
1,058 Sokoto-Badagry Superhighway
486km Calabar-Abuja Superhighway
421km Akwanga-Jos-Bauchi-Gombe Highway
375km Abuja-Kaduna-Zaria-Kano Highway
• 107km Enugu-Onitsha Expressway
Kano-Kaduna Standard Gauge Rail Line
2. Fast-tracking of N1.5 trillion road concession project under the Highway Development and Management Initiative (HDMI)
3. Ongoing infrastructure upgrades at airports nationwide
4. Commencement of commercial operations on Portharcourt – Aba railway.
Strengthen National Security for Peace and Prosperity
1. 13,543 terrorists/criminals neutralized, 17,469 arrested and 9,821 hostages rescued
2. 11,118 weapons and 252,596 assorted ammunitions recovered
3. Procurement of 25+ helicopters/aircraft and 4+ vessels for the military
Focus on Education, Health, and Social Investment as Essential Pillars of Development
1. 1Over 300,000 bene ciaries of Students’ Loan Scheme across Nigerian tertiary institutions.
2. Over N80 billion disbursed to revitalize over 8,000 primary health centres across the 36 states and FCT.
3. Over 2,500 health workers recruited, 60,000 others retrained.
4. Introduction of zero tari s, excise duties VAT on imported pharmaceutical inputs and APIs.
On the day of my inauguration, I had to decide on something not originally in my speech, and that was the fuel subsidy removal. The hallmark of a great leader is the ability to make the right decision at the right time... I stood rm, knowing it was the right thing to do for our nation's future.
President Bola Ahmed Tinubu
Boost Agriculture to Achieve Food Security
1. Signi cant drop in food prices across markets.
2. Recapitalization of Bank of Agriculture (BoA) underway
3. Distribution of fertilizers and other farm inputs to farmers nationwide.
4. Release of 42,000MT of grains across the 36 states and FCT
5. Establishment of Livestock Development Ministry
“Nigeria First” policy for mandatory procurement and prioritization of locally made goods.
Unlock Energy and Natural Resources for Sustainable Development
1. Over $8 billion in new oil and gas investments unlocked
2. Over $500 million in investments through the Presidential CNG initiative
3. Over 75,000 new jobs created in the solid minerals sector
4. 6,003 MW highest ever daily power generated recorded
Accelerate Diversi cation through Industrialization, Digitization, Creative Arts, Manufacturing & Innovation
1. Training of 3 million youths on technology skills under the 3MTT programme
2. Establishment of Creative Economy Development Fund (CEDF)
3. Restructuring of Nigeria Youth Investment Fund (NYIF)
4. N75 billion post-subsidy removal Presidential Loan for the manufacturing sector
5. Over 280,000 new jobs created in the cultural and creative industries
We will invest more in technology and take over the forests. Security is a national issue, not just at the local or regional levels. If we genuinely need investment in Nigeria, we must address security. Investment will not go where there is banditry and terrorism. We will solve the problem together with the states and local councils
President Bola Ahmed Tinubu
Improve Governance for E ective Service Delivery
1. Implementation of local government autonomy.
2. Establishment of Development Commissions and Ministry of Regional Development
3. Presidential approval for implementation of Oronsaye Report
We cannot achieve Eldorado in one day. But we are on the path to it. We will succeed by the grace of God Almighty. We are resetting the economy, and it looks far better.
President Bola Ahmed Tinubu
By Mohammed Idris, fnipr
President Bola Ahmed Tinubu assumed o ce with a singular mission, to break the stranglehold of dysfunction on Nigeria and to replace this with systems that stand out for their e ciency and productivity, and their ability to inspire and renew collective hope.
That vision for a new Nigeria is playing out as a re-enactment of his 1999 vision for a new Lagos, and I think that it is very important, in understanding this consequential presidency, to rewind a bit and locate its roots in an equally consequential governorship.
The Lagos he inherited was a megacity in dire need of taming, ridden with poor infrastructure, urban lth, and bu eted by an encroaching ocean. He set about imposing a sense of order and vision on this state of a airs, creating an enduring subnational standard for public sector and governance reform in Nigeria.
New institutions were created, talent was hired, and bold ideas were very much welcome. No aspect of governance was left behind – judiciary, land use, mass transit, waste management, revenue collection, security — and a standout dedication to true federalism.
The revolutionizing of revenue collection was especially critical, because at the end of the day, even the boldest of visions without nancing amounts to no more than a pipe dream.
It is crucial to a rm that in making the transition from running Lagos to leading Nigeria, the President has not assumed that Nigeria is merely a bigger version of Lagos. He came to o ce fully aware the immense and unique complexities of the country he’d been elected to run. But—and this is the very important point—it has been clear that there’s a timelessness to certain leadership principles, that makes them repeatedly applicable and enduringly impactful.
As with the stint in Lagos, his rst order of duty in the Presidential Villa was to tame seemingly intractable monsters. In this case, the twin monsters of petrol and forex subsidies. Not because the concept of subsidies is a terrible one, no, but instead because these two subsidies stand out uniquely for how especially inhibiting and damaging they have been for our national aspiration to be a continental and global model of economic growth, prosperity and e ciency.
President Tinubu alluded to this in his speech during the recent visit to Anambra State, saying: "Like we tamed the Atlantic in Lagos, many of these monsters have been tackled: petroleum and forex subsidies have been tamed; macroeconomic stability has returned within predictable bounds; tax reforms are on the way, etc. These reforms are di cult, yes, but inevitable."
His conviction about the necessity of di cult reforms was certainly honed from Lagos. Any leader that wants to be truly transformational knows that decisions cannot be based only on how popular they are with the public. There are di cult things that need to be done, but which will go on to usher in unimaginable bene ts.
So, rst the taming of monsters, and then the deployment of a new order to replace the old. First the dismantling of dysfunction, and then the laying of
Mohammed Idris
President Tinubu alluded to this in his speech during the recent visit to Anambra State, saying: "Like we tamed the Atlantic in Lagos, many of these monsters have been tackled: petroleum and forex subsidies have been tamed; macroeconomic stability has returned within predictable bounds; tax reforms are on the way, etc. These reforms are difficult, yes, but inevitable."
new foundations of growth, of investment and jobs, of economic stability and attractiveness. He has accomplished all of this as a man of his own, listening and then deciding; beholden to no person or cabal. Nigeria now has a brand new tax regime, the product of a wholesale revision of existing laws. A new omnibus infrastructure program – the Renewed Hope Infrastructure Development Fund – building on the last decade and cementing the legacy of the All Progressives Congress (APC) as Nigeria’s most infrastructure-focused party.
A new landscape of social welfare and investment, through initiatives like the presidential grants and loans scheme, the Nigerian Education Loan Fund, the presidential CNG initiative, the Consumer Credit Corporation,
The common thread here is that these initiatives all have the ordinary people of Nigeria at their very heart: artisans, small businesses, students, transporters, civil servants, everyday people building their lives honestly and diligently. The President’s overriding vision is to put more money in the pockets and businesses of Nigerians, while also helping them attain dreams of a better life.
The policy reforms and scal stability are paying o , and investors are paying attention. In 2024, oil and gas investors announced over ve billion dollars in Final Investment Decisions (FIDs) for landmark new deepwater projects in the country.
As we speak, in the health sector, there are no fewer
than 22 new large-scale private sector pharmaceutical manufacturing projects valued at over $5.5 billion, across the country, powered by the President’s reform agenda. Supporting these projects is an in ow of multi-billion-dollar investment funding from multilateral partners like Afreximbank and the European Investment Bank. A look at recent company results shows that a di cult corner has been turned, and there’s a bouncing back that cannot be ignored.
The President is giving it all it takes – transforming Nigeria one bold policy or legislation at a time. A new Electricity Act to empower subnational governments and the private sector to wholeheartedly get involved in power generation, transmission and distribution.
Three new presidential directives to create unprecedented scal incentives for oil and gas investment. Four new tax bills to completely remake the scal landscape, empower subnational governments, and reduce existing burdens on Nigerians.
Five new Development Commissions, in the spirit of equitable and decentralized national development. A new and much-praised Investment and Securities Act, to promote digital innovation while strengthening investor protection.
The list is endless, but the principle is simple and consistent. Across every sector, reform and renewal, the goal is to deploy keys that unlock endless possibilities. The idea is that every decision must open up opportunities for Nigerians to thrive and prosper. Every new dollar of investment means new jobs and more disposable incomes.
These results will not always be felt immediately, but that does not make them any less signi cant. It is in looking at what the Lekki Peninsula has today become—Africa’s fastest growing industrial and real estate corridor—and in connecting this with the pioneering work of the then Governor Tinubu, that it becomes undeniably clear that yesterday’s seeds are today’s forests. The seed planting continues, to guarantee tomorrow’s forests for coming generations.
There is also still a lot of work ahead, and the President himself would be the rst to acknowledge this. The ght against in ation needs to be sustained, the various social programs need to be massively scaled up to touch many more lives.
In the area of security, more needs to be done, by the Federal Government working very closely with States and Local Governments. What should never be in doubt is the President’s determination to do everything that needs to be done, and to do them methodically and strategically.
The next two years of this rst term will see a strengthening of the foundations, and renewed e ort in the construction of the superstructures that sit on that foundation. And we will also, along the way, strive to do even better in boldly telling and showing the multitudes of emerging success stories, from every corner of the land.
Happy 26th anniversary to Nigeria's Fourth Republic, and Happy second year anniversary to an audacious and visionary President.
The Federal Ministry of Information and National Orientation is nalizing the take-o of a UNESCO Category 2 Media and Information Literacy (MIL) Institute in Abuja; the rst of its kind in the world.
The Federal Ministry of Information and National Orientation has produced a National Values Charter for Nigeria.
This is a May 29th 2025 Publication of
The Federal Ministry of Information and National Orientation has launched a Ministerial Press Brie ng Series and other public engagement initiatives.