Issuu

MAN Declares Support for 15% Import Tariff on Petrol, Diesel

Says it’s a step towards strengthening local content, patronage of made-in-Nigeria In meeting with German manufacturers, Bagudu courts support towards $1tn economy, harps on role of private sector

James Emejo in Abuja and Dike Onwuamaeze in Lagos

Manufacturers Association federal government’s recent MAN said it viewed the tariff Nigeria First agenda and its of Nigeria (MAN) yesterday approval of a 15 per cent import as a strategic step and patriotic long-standing advocacy for declared its support for the tariff on petrol and diesel. policy that aligned with the local content development and

patronage of Made-in-Nigeria. Continued on page 10

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As Trump Military Threat Looms, FG Insists Claim of Christian Genocide Based on Faulty Data Says terrorist attacks lowest in 10 years, 17,000 being prosecuted Tuggar: Nigeria remains good example of religious plurality Keyamo: Tinubu a known ‘moderate’, won’t approve persecution of Christians Falana: Trump lied about Christian killings in Nigeria

Emmanuel Addeh, Olawale Ajimotokan, Michael Olugbode,

Sunday Aborisade in Abuja and Wale Igbintade in Lagos

The federal government on its position on President military intervention by the yesterday doubled down Donald Trump’s threat of a US government, maintaining

that the notion of Christian Continued on page 10

Nigeria’s $2.35bn Eurobond Oversubscribed By $10.65bn Strong investor confidence excites Tinubu Wale Edun: This successful market access demonstrates the international community’s continued confidence in reform

Nume Ekeghe Nigeria’s return to the international capital market defied political headwinds yesterday, as its $2.35 billion Eurobond issuance attracted orders worth $13 billion, representing an oversubscription by 453 percent or $10.65 billion. This comes despite United States President Donald Trump’s designation of the West African country as a “Country of Particular Concern” over alleged widespread killings of Christians, rising religious intolerance, and his further threat of military action if the government fails to curb the violence. The strong investor appetite signals renewed Continued on page 10

WORKING VISIT BY BAGUDU, EDUN TO THE CBN...

L-R: Minister of Budget and Economic Planning, Alhaji Abubakar Atiku Bagudu; Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso; and Minister of Finance and Coordinating Minister of the Economy (CME), Mr. Wale Edun, during a working visit by the ministers to the CBN Head Office in Abuja on Tuesday

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

THISDAY • THURSDAY, NOVEMBER 6, 2025

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

NEWS

COURTESY VISIT TO OYETOLA BY THE SSDC MANAGEMENT...

L-R: Members, South-South Development Commission (SSDC) Board, Hon. Larry Odeh and Hon. Tabitha Ilya Sallah; Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola; MD/CEO, SSDC, Ms. Usoro Akpabio; and Engr. Chika Chinda, during a courtesy visit to Mr. Oyetola by the SSDC Management, yesterday Photo: SSDC

Dangote Cement Commits to 100% CNGpowered Fleet, Targets 29% Emissions Cut Invests N12.4bn in community development in 2024 OPEC oil output increased by 30,000 bpd in October, survey shows Ojulari: NNPC looking to raise stake in Dangote refinery to 20% Crude oil price dips on fears of oversupply

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos As part of moves aimed at reducing greenhouse gas emissions and improving energy security, Dangote Cement Plc has expressed its commitment to ensuring that all its trucks are 100 per cent Compressed Natural Gas (CNG)-powered by 2026. Stressing that it’s targeting 29 per cent emissions reduction by next year, the company said it has so far co-processed over 1.5 million tonnes of alternative fuels in the last four years thus significantly lowering its carbon footprint. The Group Managing Director of Dangote Cement, Mr. Arvind Pathak disclosed this while speaking to a global audience at the Africa CemTrade Summit which just ended in Accra, Ghana, according to a statement by the Dangote Group.

The company said the move underscores its commitment to cutting carbon emissions, enhancing energy security, and setting a benchmark for sustainable industrialisation across Africa. Pathak said since 2021 when the company embarked on energy diversification, it has successfully deployed 15

alternative fuel systems across its plants, achieving up to 40 per cent thermal substitution in operations across its plants in sub-Saharan Africa especially in Senegal, Zambia, and South Africa. Pathak who spoke on the theme: “Sustainable Innovation in the Sub-Saharan Africa Cement Distribution Value Chain,” said

The Catholic Bishop of Sokoto Diocese, Most Rev. Dr Matthew Hassan Kukah, will be headlining the public presentation of three new books authored by renowned journalist, broadcaster, and public intellectual, Dr. Reuben Abati, on Friday, November 7, at the Nigerian Institute of International Affairs (NIIA), Victoria Island, Lagos. Kukah, widely respected as a social crusader, bridge builder, and advocate for

footprint across 11 countries, with a production capacity of 55 million tonnes annually, was leading a transformative shift towards sustainability in Africa’s cement distribution sector, combining environmental stewardship with profitability pointing out that sustainability sits at the core of the company’s business model, influencing every aspect from

production to logistics. Pathak explained that central to its green transition programme was the investment in CNG logistics which has seen the company acquire over 3,000 CNG trucks and 1,000 dual-fuel vehicles deployed, significantly reducing emissions and transport costs. Continues online

Ondo, Investors Seal $50bn Deal on Refinery, Free Trade Zone

As Gov Aiyedatiwa meets Backbone Infrastructure team, local, foreign partners

Fidelis David in Akure

partners, such as Backbone Infrastructure, MJ Care InvestGovernor Lucky Aiyedatiwa of ment Finance, China Harbour, Ondo State has formalised a $50 and Honeywell OUP, under the billion deal for the development Sunshine Infrastructure Joint of a 500,000-barrels-per-day Venture (JV). It aims to position refinery and a 1,471-hectare the state as a major industrial sunshine free trade zone in hub in Nigeria. Ilaje Local Government Area The funding followed the sucof the state cessful execution of a MemoranThe deal involves global dum of Understanding (MoU)

Bishop Kukah to Deliver Keynote as Dr Reuben Abati Unveils Three New Books at 60th Birthday Celebration Sunday Ehigiator

with the shift to alternative fuel, the cement company has been converting industrial, agricultural, and municipal wastes into energy, noting the initiative forms part of the company’s broader decarbonisation target aimed at cutting carbon emissions by twenty per cent by 2030. He emphasised that Dangote Cement which has expanded its

inclusive governance, will deliver the keynote address, titled, “Nigeria: Time to ReLoad.” The event, organised by Caltop Publications Nigeria Limited, will also coincide with Abati’s 60th birthday celebration, offering a moment to reflect on his life’s work as one of Nigeria’s most influential voices in journalism, media, and national development. The books to be presented are Portraits: People, Politics and Society, A Love Letter

& Other Stories, and How Goodluck Jonathan Became President. Collectively, they reflect Abati’s versatility as a storyteller, analyst, and historian of Nigeria’s evolving political and social landscape. Kukah, who has long championed the cause of justice, peace, and good governance, is expected to set the tone for a robust national conversation through his keynote, drawing on decades of experience as a cleric, scholar, and peace advocate.

between the Joint Venture and the state government through the Ondo State Investment Promotion Agency (ONDIPA). Receiving the investors at the governor’s office in Akure, Aiyedatiwa described the partnership as a strategic step towards sustainable industrialisation and long-term economic stability. He said, “This investment marks a new dawn for Ondo State. It will fast-track industrial development, attract more investors and create jobs for our

people.” He assured the investors of his administration’s commitment to transparency, a conducive business climate, and full protection of their investments. Aiyedatiwa stated that his government had been deliberate in implementing policies that promoted ease of doing business, adding that the project would stimulate productivity and economic growth across multiple sectors. Managing Director of Sunshine Infrastructure JV, Mr. Henry

Owonka, said the initiative had progressed from conception to execution through consistent engagement with ONDIPA. Owonka explained that the project’s initial $30 billion valuation was reviewed to $50 billion following an expansion to cover broader infrastructure and community-driven programmes. “The Sunshine JV is not just an investment; it’s a development framework that will transform industries, strengthen communities and improve livelihoods,” Owonka stated.

Food Sustainability: One Acre Fund Set to Empower 4m Farmers for More Food Production in Nigeria A nonprofit organisation seeking food sustainability in the country, One Acre Fund, yesterday said the organisation has finalised arrangement to empower four million farmers across the country so as to ensure more food production for the teeming populace. Also, the organisation would soon collaborate with Seedco to distribute about three mil-

lion free seedlings to farmers across the country by the year 2030. Lead, Impact Innovatio of the fund, Dr. Adefunke Adewole, who said this in Share, Ifelodun Local Government Area of Kwara State during Kwara harvest day agenda, said this year alone it has distributed about 250,000 free seedlings to farmers in

the states it covers. The event has allowed the farmers in the area to showcase their output for the outgoing year while performing farmers were given awards as part of move to motivate them for more productive results in the coming year. According to her, “Next year, we are going to scale up to 500,000 seedlings”.

THURSDAY, NOVEMBER 6, 2025 • THISDAY

NEWS

FINALE OF THE NEXT TITAN NIGERIA SEASON 10...

L-R: Head of Global Sales, Arik Air, Mr. Henry Ejiogu; Managing Director, The Next Titan Nigeria, Mr. Mide Akinlaja; Judges of The Next Titan Nigeria, Mr. Tony Cole, Mr. Chris Parkes and Ms. Lilian Olubi; and The Next Titan Season 10 (2025) Winner, Pearl Ubani, at the grand finale of The Next Titan Nigeria Season 10 held at Marriott Hotel, Ikeja, Lagos… recently

PenCom to Diversify Pension Asset Investments to Boost Returns, Says DG Rallies stakeholders to deepen trust, confidence in pension system

James Emejo in Abuja Director General, National Pension Commission (PenCom), Ms. Omolola Oloworaran, yesterday, said the commission will diversify pension asset investments to improve returns, and seek to deepen confidence in the country’s pension system.

Oloworaran said the commission will also strengthen governance and oversight, expand coverage to millions more Nigerians, particularly in the informal sector, and enhance retiree welfare, including health and gratuity buffers. She spoke at the opening of a sensitisation workshop on the

workings of the Contributory Pension Scheme (CPS) for employees/pension desk officers in Abuja. The event was jointly convened by PenCom and National Salaries, Incomes and Wages Commission (NSIWC). Represented by Director, Contribution and Bond Redemption Department,

PenCom, Mr. Usman Musa, Oloworaran stated that the nationwide sensitisation across all six geo-political zones aimed to deepen trust and ensure that every federal employee and pensioner fully understood the CPS and could access its benefits without delay. She reaffirmed PenCom’s

Senate Uncovers $200bn Unaccounted Crude Oil Proceeds, Approves Report on Oil Theft Probe To mandate recovery of stolen funds, establish special court for oil thieves

Sunday Aborisade in Abuja plenary detailed how systemic weaknesses, poor regulation, Senate, yesterday, approved weak institutional synergy, and the interim report of its Ad- the suspension of vital oversight hoc Committee on Crude Oil functions under the Petroleum Theft, which unearthed shocking Industry Act (PIA) had enabled discrepancies amounting to over widespread crude oil theft, $200 billion in unaccounted resulting in monumental crude oil sales proceeds between revenue losses for the country. The report was presented 2015 and 2023. The upper chamber’s resolu- and read at plenary by the tion followed the presentation chairman of the adhoc panel, and adoption of the committee’s Senator Ned Nwoko. According to the document, interim report on “Investigation of the Incessant and Nefarious local investigations revealed Acts of Crude Oil Theft in the unaccounted domestic crude Niger Delta and the Actors.” sale differentials and mismatches The report considered during of about $22 billion, while a

further shortfall of $81 billion was traced between the crude proceeds declared by the Nigerian National Petroleum Company (NNPC) and the Central Bank of Nigeria (CBN) during 2016–2017. The report further disclosed that forensic and international investigations conducted by consultants in the United Kingdom, United States, and Canada projected an even larger sum of over $200 billion in unaccounted crude oil sales proceeds. The committee warned that unless urgent recovery actions

were initiated, Nigeria risked permanently losing the stolen resources to foreign accounts and complicit international traders. Presenting the report, the chairman of the committee said the probe was borne out of a Senate motion passed on October 10, 2023, which mandated an investigation into crude oil theft and the actors involved.

commitment to building the capacity of stakeholders, and providing practical solutions and clarity on the modalities for the upcoming 2026 retiree enrolment exercise and the planned one-off enrolment of all employees of treasury-funded MDAs entitled to accrued pension rights. Oloworaran revealed that the commission had developed a new, more efficient enrolment application that will provide a user-friendly and seamless experience for all stakeholders in the chain of processing and payment of retirees’ benefits. The PenCom DG stated that over the last two decades, the CPS had rewritten Nigeria’s pension story, moving from an era defined by unpaid entitlements and uncertainty to a new order anchored on transparency, sustainability, and inclusiveness. She said, “Today, more than 10 million Nigerians from public service employees to private sector workers, and even artisans and the self-employed under

the Personal Pension Plan, are covered under the CPS. “Pension assets have grown to over N25 trillion, fueling national development through strategic investments, while also securing regular monthly pensions for over 552,000 retirees and lump sum benefits for an additional 291,735 retirees. In total, more than 844,000 retirees across both public and private sectors now enjoy retirement benefits that are steady, reliable, and transparent.” She stated that in line with the commission’s mandate to protect contributors and guarantee dignity in retirement, PenCom had rolled out key interventions that were changing lives. According to her, these include the Pension Boost 1.0, which enhances pensions for over 241,000 retirees, representing 80 per cent of those under Programmed Withdrawal. Oloworaran added that monthly pensions rose from N12.157 billion to N14.837 billion, effective June 2025.

Senate Confirms NCC Board, Strengthens Regulatory Oversight

FG Inaugurates Ministerial Prescribes stiffer penalties for use of harmful chemicals in food processing The confirmation consoliSunday Aborisade in Abuja upper chamber approved the appointment of Idris dates the leadership structure Project Approval Board Senate on Wednesday Olorunnimbe (South-west) of the commission, bringing Ndubuisi Francis in Abuja

The federal government has inaugurated a Ministerial Project Approval Board (MPAB), even as it moved for the advancement of a digital transformation partnership with the Equipment Leasing Registration Authority (ELRA). The Minister of Finance

and Coordinating Minister of the Economy, Mr. Wale Edun, who inaugurated the Board in his office in Abuja, Wednesday, also presided over its first review session, considering a public-private partnership proposal from the ELRA to modernise Nigeria’s leasing industry. Director, Information and Public Relations, Moham-

med Manga disclosed that the initiative aims to digitise regulatory processes, strengthen market transparency, and expand access to equipment finance for Nigerian businesses, particularly Small and Medium Enterprises (SMEs) which rely on leasing to acquire machinery, vehicles, and technology critical for growth.

confirmed the appointment of key members of the Board of the Nigerian Communications Commission (NCC), marking a major step towards strengthening regulatory leadership in Nigeria’s telecommunications sector. Following the presentation of its report by the Committee on Communications, the

as Chairman of the NCC Board. Also confirmed were Maryam Bayi (North-east), Senator Ramoni Mustapha (South-west), and Ikechukwu Ugwuegede (South-east) as Commissioners. Others included Princess Oforitsenere Emiko and Christopher Sandy Okorie, both representing the Southsouth.

together the new appointees with Executive Vice Chairman, Dr. Aminu Maida (North-west), Executive Commissioner for Technical Services, Engr. Abraham Oshadami (North-central), and Executive Commissioner for Stakeholder Management, Rimini H. Makama (Northcentral), who were earlier confirmed.

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NEWS

GRAND OPENING OF SIGNATURE BANK KANO BRANCH...

L-R: Chairman, Signature Bank, Alhaji Tijjani M. Borodo, LLM, D.CFIoD; His Royal Highness, Sarkin Kano, Khalifa Muhammadu Sanusi II, CON; His Excellency, The Executive Governor of Kano State, Alhaji Abba Kabir Yusuf; Managing Director and Chief Executive Officer, Signature Bank, Mr. Nixon Iwedi and Non-Executive Director, Signature Bank, Mr. Shedrack Odoh at the grand opening of Signature Bank Kano Branch in Kano State....yesterday

WEF Raises Concerns over AI, Crypto, Debt as Potential Global Financial Market Bubbles Says government debt at highest level since 1945

Ndubuisi Francis in Abuja President of the World Economic Forum (WEF), Borge Brende, has warned about three potential bubbles in financial markets as global technology stocks experience sharp declines. Brende identified crypto, Artificial Intelligence (AI), and debt as areas of concern during his visit to Sao Paolo, Brazil’s financial hub, on Wednesday. “We could possibly see bubbles moving forward. One is a crypto bubble, second an AI bubble, and the third would be a debt bubble,” Brende told reporters, stating that government debt levels are at their highest since 1945. Brende, whose organisation hosts the annual Davos meetings where global leaders discuss worldwide challenges, highlighted both opportunities and risks associated with AI technology. While AI offers potential

for significant productivity improvements, he warned it could threaten many white-collar jobs, potentially creating a “‘Rust Belt’ in those big cities that have a lot of back offices with white-collar workers that can more easily be replaced by this AI and increased productivity”. He referenced recent job cuts announced by companies, like Amazon and Nestle, as examples of the trend. According to him, massive investments in AI and cryptocurrencies may lead to the development of bubbles. “There is definitely a geopolitical disorder ... But even in the situation of geopolitical disorder, the global economy has been incredibly resilient – not necessarily in Europe but in India, China and the U.S.,” Brende told Deutsche Presse-Agentur. He stated that this was being fuelled by investments in new technologies like AI. “This year has seen $500

billion of investments in AI alone. So, what we can be worried about is that there may be bubbles developing, be it a bubble on crypto or an AI bubble,” Brende said. The WEF president stated that investors needed to be patient with the investments. He observed that frontier

The United Nations Educational, Scientific and Cultural Organization (UNESCO) has formally approved the designation of the International Media and Information Literacy Institute, Abuja, Nigeria, as a UNESCO Category-2 Institute. The hosting will be the first of its kind in the world. The ratification was made by UNESCO at its 43rd General Conference of the Communication and Information Commission (CI Session) held

in Samarkand, Uzbekistan. The approval has now positioned Nigeria as a global leader in the fight against misinformation and disinformation, empowering it to spearhead international research, policy dialogue, and capacity-building in a critical 21st-century digital field. In his address to the UNESCO conference, the Minister of Information and National Orientation, Mohammed Idris, described the decision as “a strong vote of confidence in our nation.”

ogies as “a big paradigm shift” and predicted breakthroughs in medicine, synthetic biology, space and energy, adding that “AI can accelerate processes so quickly”. Despite the concerns, Brende acknowledged the historical pattern that technological advances ultimately boosted productivity, which he described

as “the only way over time to increase prosperity”. Brende also expressed concern about global crises and conflicts. “There is definitely a geopolitical disorder: the world order we had is not there anymore. What is the next world order? Hopefully not the law of the jungle,” he said.

Shettima, Obi, Lumumba, Others to Provide Perspectives on How Nigeria Can Lead Africa Alaje: US’ invasion not good for macroeconomic stability, urges diplomatic approach

Ndubuisi Francis in Abuja Vice President, Senator Kashim Shettima; presidential candidate of the Labour Party in the 2023 elections, Peter Obi; renowned Kenyan scholar. Prof. P.L.O Lumumba, and many other eminent personalities are billed to provide perspectives on how Nigeria can

Nigeria Ratified as Host of UNESCO’s First Category-2 International Media, Information Literacy Institute Olawale Ajimotokan in Abuja

technologies would be the new drivers of growth. Brende stated, “We will also need to make sure that the new technologies and the benefits trickle down. We could even see productivity gains of 10 per cent in the coming decade. And productivity is prosperity.” He described the new technol-

He affirmed Nigeria’s commitment to this responsibility, noting that the institute will serve as an international observatory and hub to enable individuals and communities worldwide to navigate the digital age with discernment and confidence. “The Nigerian government, under the leadership of President Bola Ahmed Tinubu, is committed to fostering a society where responsible free speech is seen as the engine of national progress,” Minister Idris said.

lead the African continent from poverty to prosperity. The event is the second Paul Alaje Foundation Colloquium scheduled for The NAF Conference Centre, Abuja on November 15, 2025. Former President Olusegun Obasanjo was the keynote speaker at the maiden edition, which prescribed far-reaching solutions to the nation’s economic challenges. Speaking at a pre-event press conference in Abuja, Tuesday, Fehintoluwa Oduekun, Chairperson of the Local Organising Committee (LOC) of the event,

which is convened by Dr. Paul Agabje, said the theme is, “ Breaking the Cycle: How Nigeria Can Lead Africa from Poverty to Prosperity.” “Nigeria, the 4th largest economy in Africa, stands at a decisive crossroad. Despite its human and natural endowments, the nation continues to grapple with rising poverty levels, weak institutions, and uneven economic opportunities. “The time has come to examine why the cycle persists and how deliberate policy, innovation, and governance reforms can lift

millions out of multidimensional poverty. This colloquium seeks to confront these issues head-on with data-driven dialogue and actionable ideas. “The theme is particularly timely as Africa navigates a changing global economic landscape marked by shifting trade flows, climate imperatives, and digital disruptions. Nigeria’s leadership, if re-energised with a clear national vision and inclusive strategy, could set the pace for Africa’s transformation—moving from aid dependence to productive prosperity.

Ogbuku Urges APC Faithful in Bayelsa to Support Governor Diri

Olusegun Samuel in Yenagoa

The Managing Director of the Niger Delta Development Commission, NDDC, Chief Samuel Ogbuku, has called on members of the All Progressives Congress (APC) in Bayelsa to give absolute support to the Bayelsa State governor, Senator Douye Diri, as the new leader of the party in the state.

Ogbuku, who made the call in Yenagoa, while speaking with journalists, on the occasion of the formal reception of the governor into APC, acknowledged that he already has a good track record in impactful development in the state, noting he would bring his experience to bear and add more value to what he has already achieved in the party.

The NDDC boss joined the national and state leadership of the party to welcome the governor into the progressive party. He said his coming marks a new dawn in the political landscape of Bayelsa and signifies a unifying moment that will further strengthen the foundations of democracy and good governance in the state.

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ACCI, Autodex Reaffirm Commitment to Grow Agriculture Via Tech Innovation

James Emejo in Abuja

President, Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, said the chamber remained committed to working with partners including Autodex Nigeria Limited to enhance the growth and development of the nation’s agricultural sector. Speaking at a media briefing ahead of the 2nd edition of the Farm, Food and Allied Technology (FARMFATECH) Expo 2025 in Abuja, Obegolu said the sector remained a vital pillar of the country’s economy as well as major contributor to GDP.

He said through its Agriculture Trade Group, the chamber had continued to champion the interests of farmers, agribusinesses, and investors by promoting policies, technologies, and partnerships that sustain productivity and resilience. Obegolu said this year’s expo builds upon the success of the inaugural edition and “reinforces our collective vision to strengthen collaboration and knowledge exchange between Nigeria and China, as well as other strategic global partners, in advancing agricultural innovation and sustainability”. Represented by Director

General, ACCI, Mr. Agabaidu Jideani, Obegolu said the expo scheduled to hold between November 10 – 12, 2025 in Abuja, will showcase cutting-edge agro-mechanisation technologies, food processing solutions, and value chain innovations, creating a unique platform for stakeholders to explore investment opportunities, forge partnerships, and catalyse business growth in Nigeria’s agricultural sector. The three-day event will bring together over 500 exhibitors, 76 participating countries, and an estimated 500,000 visitors. He said, “As a chamber, the ACCI operates through over 16 sector-based trade groups,

one of which is the Agriculture Trade Group, a key driver of this initiative. It is through this group that the collaboration for FARMFATECH has been made possible. “Our passion for the growth and advancement of Nigeria’s agricultural sector is at the heart of this Expo, which we believe will not only enhance productivity but also strengthen food security and create employment opportunities across the value chain. “At the Abuja Chamber of Commerce and Industry, we remain steadfast in our commitment to initiatives that promote economic diversifica-

tion, industrial growth, and sustainable development.” In his remarks, Managing Director, Autodex, Prince Tony Afam Ifeakandu, said, “We believe food security is inseparable from productive mechanisation and smart logistics. Nigerian farmers are hardworking and capable, our role is to empower them with efficient machinery and cleanenergy, mobility solutions that reduce costs, improve yields, and accelerate access to markets.” He said, “Through innovations in hybrid combustion and electric vehicles, tricycles, motorbikes, and utility vehicles, as well as our evolving charging

N ig e r ia’ s $ 2 . 3 5 bn E u r o b o nd O v e r s u bs c r ib e d B y $ 1 0 . 6 5 bn

global confidence in Nigeria’s economic reforms trajectory and resilience amid rising geopolitical tension. According to a statement from the Debt Management Office (DMO), the Federal Republic of Nigeria successfully priced $2.35 billion Eurobonds maturing in 2036 (Long 10-year) and 2046 (Long 20-year) in the international capital markets, with US$ 1.25 billion and US$ 1.10 billion placed in the 2036 and 2046 maturities, respectively. The Long 10-year bond and the Long 20-year Notes were priced at Coupons / Yields of 8.625 per cent and 9.125 per cent, respectively, the statement

added. “Nigeria is pleased to have attracted a wide range of investors from multiple jurisdictions including the United Kingdom, North America, Europe, Asia, Middle East and participation from Nigerian investors, which it views as an expression of continued investor confidence in the country’s sound macroeconomic policy framework and prudent fiscal and monetary management. “The transaction attracted a peak orderbook of over US$13 billion, marking the largest ever orderbook achieved by the Republic. This significant milestone underscores the strong support for the trans-

action across geography and investor class. “With respect to investor class, demand came from a combination of Fund Managers, Insurance and Pension Funds, Hedge Funds, Banks and other Financial Institutions,” the statement added. In his remarks on the transaction, President Bola Ahmed Tinubu, stated that: “We are delighted by the strong investor confidence demonstrated in our country and our reform agenda. This development reaffirms Nigeria’s position as a recognised and credible participant in the global capital market.”. According to the Minister

of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, “This successful market access demonstrates the international community’s continued confidence in Nigeria’s reform trajectory and our commitment to sustainable, inclusive growth.” In her remarks, the DirectorGeneral of the DMO, Patience Oniha stated: “Nigeria’s ability to access the Eurobond Market to raise long term funding needed to support the growth agenda of President Bola Ahmed Tinubu is a major achievement for Nigeria and is consistent with the DMO’s objectives of supporting development and diversifying

MAN Declares Support for 15% Import Tariff on Petrol, Diesel Director General of MAN, Mr. Segun Ajayi-Kadir, expressed those views in a press statement. Ajayi-Kadir said MAN acknowledged the major step in the implementation of Nigeria First policy of government. That came as Minister of Budget and Economic Planning, Senator Abubakar Bagudu, yesterday urged German companies to support the federal government’s ambitious drive towards achieving a $1 trillion economy by 2030. Speaking in Abuja, while hosting a delegation from the Giessen-Friedberg Chambers of Commerce from Germany, Bagudu stated that President Bola Tinubu had outlined a bold plan to accelerate the country’s economic growth to realise the target. He said, “Our president has challenged all of us in his team that he wants us to generate a $1 trillion economy by the year 2030. It’s a very big ambition and most of the growth is to come from the private sector. “Nigeria has a huge absorptive capacity, especially in technologies that Germany and German companies and skilled German workers have in abundance, which we believe can help in generating this growth in a mutually beneficial manner.

“We want German companies – small, medium and big – to play a bigger role in Nigeria. We want our entrepreneurs to link up with the German ecosystem, technology, skilled manpower and know-how, so that we can generate more trade growth, we can generate more value from our relationship, which can even absorb some of the skilled manpower we are targeting.” The MAN president said the petrol-diesel tariff would accelerate the country’s journey toward energy sovereignty, industrial competitiveness, and sustainable economic growth – all anchored on the strength of Made-in-Nigeria. He said, “This strategic policy has reassured domestic manufacturers that government is attentive to the imperatives of growing indigenous manufacturing. “It exemplifies governments commitment to halting the perennial bleeding of our patrimony; asserting the sovereignty of the great country; guaranteeing energy sufficiency and security, and improving the overall wellbeing of Nigerians in these regards. “This is a sure step in the promotion of local value addition, strengthening domestic refining capacity, conserving foreign exchange, and ad-

vancing Nigeria’s long-term industrialisation objectives.” Ajayi-Kadir also highlighted the need for unfettered implementation of the Naira for crude arrangement that would ensure effective and reliable supply of crude to the local refineries and reduce the pressure on our scarce foreign exchange. He said the new tariff would attract more investors, including the holders of the 30 refinery licenses, to commit resources in the sector. He stated, “There is no

better path to fixing Nigeria’s economy than protecting local industries, encouraging local patronage, fostering value addition, and promoting industrial development anchored on local content. “MAN recognises the importance, significance, and necessity of the approval of the 15 per cent import tariff on petroleum products - petrol and diesel. “It acknowledges that the tariff is a rightful, deliberately designed policy instrument Continued on page 35

funding sources.” The Notes would be admitted to the official list of the UK Listing Authority and available to trade on the London Stock Exchange’s regulated market, the FMDQ Securities Exchange Limited and the Nigerian Exchange Limited. The proceeds from this Eurobond issuance will be used to finance the 2025 fiscal deficit and support the government’s other financing needs. Nigeria mandated Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners. FSDH Merchant Bank Limited acted as Financial Adviser on the issuance. The federal government had last month approved plans to raise as much as $2.3 billion, along with a proposal to refinance $1.1 billion of dollar debt that matures later this month. The offering is the first since the country accessed the market in December. Yesterday’s sale was briefly delayed after Trump’s threat against Islamist militants in the country. Trump had also threatened to cut off US aid. Oniha recently explained that the federal government’s proposed $2.35 billion external borrowing plan was a strategic

Chief Emeka Obegolu

and battery-swap infrastructure, we are committed to strengthening the backbone of agriculture-mechanization, mobility, and field-to-market reliability.” mix of new financing for the 2025 budget and a proactive measure to refinance maturing Eurobonds. “In terms of what we need, it’s $2.3 billion,” she said. She explained that “The 2025 budget has new N1.8 trillion in new external borrowing. That’s $1.2 billion. Then there’s $1.118 billion, maturing by end of November. So we want to issue Eurobond to redeem that one.” According to her, the refinancing of maturing Eurobonds through fresh borrowing was standard practice in international debt markets and helps Nigeria avoid default while maintaining investor confidence. “It happens, it’s not unusual. These countries that have done it include: Kenya – $1.5 billion in Feb 2024 to refinance a $2 billion, Cameroon – $550 million in July 2024, Gabon – $570 million in Feb 2025, Angola – $1.75 billion in Oct 2025. And we have disclosed that upfront. There’s no hiding it.” Minister of Foreign Affairs, Yusuf Tuggar, said on Wednesday that the Nigerian government was “engaging” with the Trump administration to explain its constitutional protection of religious freedoms and its efforts to combat Islamist attacks.

As Trump Military Threat Looms, FG Insists Claim of Christian Genocide Based on Faulty Data

genocide in Nigeria is based on faulty data. Besides, the Minister of Foreign Affairs, Yusuf Tuggar, yesterday said no one should be deceived that state sponsored religious persecution exists in Nigeria, insisting that the country remains a good example of religious plurality and democratic endurance. Also, Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), who is also a Fellow of the Chartered Institute of Arbitrators of the United Kingdom, yesterday weighed in on the ongoing stand-off between Nigeria and the US, maintaining that President Bola Tinubu, though a Muslim, remains a known

‘moderate’. On his X handle, Keyamo, who tagged the US President, Donald Trump in his post, stated that Tinubu’s wife is a pastor of one of the biggest Pentecostal Churches in Nigeria and most of his children are practicing Christians. As governor of Lagos State, Keyamo stated that Tinubu regularly invited Christian pastors for prayers and worship sessions at the Government House. “He will be the last person to either adopt the killing of Christians as a State Policy, or condone such acts or be complicit in them,” Keyamo pointed out. In the same vein, human rights lawyer and Senior

Advocate of Nigeria (SAN), Femi Falana, has accused Trump of lying to the world with his claim that thousands of Christians are being killed in Nigeria. Falana described Trump’s comments as a baseless and divisive narrative that misrepresents Nigeria’s security crisis as a religious war, insisting that the killings across the country are largely driven by criminality, banditry, and ransom-seeking, not by faith. Trump recently announced that he was designating Nigeria as a Country of Particular Concern (CPC), a label for nations where violations of religious freedom are judged to be systematic, ongoing, and

severe. However, Nigeria has continued to insist that the position of the US remains far from the truth.

Idris: Notion of Christian Genocide Premised on Faulty Data

The federal government yesterday rebutted the US’ claim of inertia against terrorist groups responsible for alleged genocide in some parts of the country. It berated the US administration for hinging its narrative on faulty data. The Minister of Information and National Orientation, Mohammed Idris, asserted this position yesterday at a media Continued on page 36

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

THURSDAY, NOVEMBER 6, 2025 • THISDAY

NEWS

CAMARADERIE AMONG SENATORS...

L-R: Senators Titus Zam, Adeola Olamilekan, Sarafadeen Ali; President of the Senate, Godswill Akpabio; Deputy Senate President, Jibrin Barau; Deputy Senate Leader, Lola Ashiru; and Senator Tony Ani, after plenary, yesterday Photo: Senate President’s Office

Citing Consumer Exploitation, FCCPC Shuts 5 Textile Warehouses in Kano Tunji Bello restates zero tolerance for acts that threaten fair competition

James Emejo in Abuja

The Federal Competition and Consumer Protection Commission (FCCPC), yesterday said it shut down warehouses of five textile distributors engaged in unethical business practices in Kano State. The companies were reportedly engaged in deceptive sale of underweight and shortened fabric materials to unsuspecting consumers in breach of the provisions

of the FCCPA (2018). The commission’s Director, Corporate Affairs, Ondaje Ijagwu, in a statement, said the enforcement exercise was led by its Director of Surveillance and Investigation, Mrs. Boladale Adeyinka. The action is a culmination of weeks-long surveillance around Kano markets by FCCPC and the establishment of the prevalence of the sale of fabric materials significantly below the standard length

or measurement indicated by retailers, while charging consumers the full price, the statement added. Section 123(1) of the FCCPA states that no retailer, trader or supplier shall, in the course of trade or for the purpose of promoting or marketing any goods, make any representation to a consumer in a manner that is false, misleading, erroneous, or deceptive in any way, including in respect of

the quantity or price at which goods are supplied. Similarly, Section 125(1) prohibits any undertaking from engaging in conduct that directly or indirectly implies a false or misleading representation concerning a material fact to a consumer or prospective consumer. Investigations however, revealed that the products were imported, marketed, distributed, advertised and warehoused at Nos 238, 249,

313, 315, 413 and 428 Gandun Abada Layout; Nos 38 & 40 Ibrahim Taiwo Road; No 87 Bua Rice Mills Street; Links I, II & III Ajasa Inuwa Wada Road and No 287 Gandun Albasa New Layout in Kano city. Reacting to the development, Executive Vice Chiarman/Chief Executive of FCCPC, Mr. Tunji Bello, reiterated the commission’s zero tolerance for any practice that exploits Nigerian con-

NUBIFIE, ASSBIFI Back Reforms, Amendment to NSITF Act Onyebuchi Ezigbo in Abuja

The two major workers union operating in the Nigeria Social Insurance Trust Fund, (NSITF), Association of Senior Staff of Banks, Insurance, and Financial Institutions, (ASSBIFI) and the National Union of Banks, Insurance and Financial Institutions Employees, (NUBIFIE), have expressed support for the ongoing amendments to NSITF Act (1993) and Employee Compensation Act (2010) at the National Assembly. In a letter addressed to the

Minister of Labour and Employment, Dr. Umar Dingyadi, signed jointly by the President of ASSBIFI NSITF unit, Bala Tijani and General Secretary Godwin Ekpah and Chairman, NUBIFIE NSITF branch, Simon Wenzamma and his Secretary, Miller Gudopwa, the unions said that amendments to NSITF Act 1993 and ECA 2010 were long overdue. According to a source at the ministry, the two in-house unions, in the letter also commended the management team of NSITF led by its Managing

Director, Barrister Olúwaseun Faleye, for embarking on “reconstruction and re-engineering of NSITF (Fund) to accomplish its strategic objectives since their assumption of duty.” They expressed support for steps taken so far by the management to amend the enabling Acts, which they argued, were to further enhance the Fund’s efficiency and service delivery. “It is pertinent to state that the amendments are geared towards empowering the Fund, clarify ambiguities, resolve conflicting provisions

with other legislations and provide a firm framework for the Fund’s operations so as to provide safety net for workers in Nigeria who may be injured, sick, disabled or die in the course of carrying out their work.” The workers’ unions also expressed optimism that the amendments, when passed, would make “the Fund more

accessible and better equipped to serve its mandate.” They affirmed their unflinching support for the management in its efforts so far as they condemned “some misleading actions and blackmail against the current management by some desperate individuals who are committed to either stagnating or retrogressing the Fund for personal gains.”

sumers or distorts the market or threatens fair competition. He said, “By undermining honest traders and businesses that comply with lawful standards, this nefarious practice of selling underweight products can drive legitimate retailers out of the market, thereby reducing consumer choice and entrenching anticompetitive behaviour.” He reassured the public that the commission will continue to deploy lawful means to deter such exploitative conduct in all markets across the country. Retailers, distributors, and suppliers across the country were reminded of their obligation under the law to provide goods that conform to declared descriptions, measurements, and standards. Bello commended the diligence of the FCCPC team involved in the operation and also thanked the security agencies for their cooperation in the exercise.

NSE Oversees Donation of $17.4 million Engineering Softwares to 15 Nigerian Varsities

advancing engineering to conduct advanced design Obi Donates N30m to Nursing Colleges, Emmanuel AddehinAbuja ineducation and professional and analysis. The initiative, according to The Nigerian Society of development in Nigeria. Besides, the software and the organisers, is part of NSE’s Promises Renovation of School Ravaged by Fire Engineers (NSE) yesterday facilitated the presentation the inaugural technical training ongoing efforts to bridge David-Chyddy Eleke in Awka

Former Anambra State governor and presidential candidate of Labour Party in 2023, Mr. Peter Obi, has donated N30 million to two colleges of Nursing Sciences in Anambra State. The former governor also said his continuous donation to colleges and hospitals is fueled

by his desire to make impact in the health sector in his own little way. Obi has for years since after his eight years tenure in Anambra as governor been going around donating to schools, especially colleges where healthcare practitioners are trained. He donated the sum of N15million each to College

of Nursing Sciences, Adazi Nnukwu and UniNiger University Teaching Hospital, Iyienu, yesterday. Obi said he has dedicated his life to one of purpose, and the purpose is to uplift humanity. He said: “I believe that life must have a purpose and my own purpose is to give support to people as a way to uplift humanity.

of several civil engineering training softwares to 15 Nigerian universities by Midas IT of India, a significant boost to engineering education in Nigeria. Speaking at the event in Abuja, President/Chairman-inCouncil, Margaret Oguntala, noted that the moment presented a valuable opportunity to accelerate meaningful action

workshop, will enhance the capabilities of the universities in civil, structural, and geotechnical engineering education. As part of the partnership, MIDAS IT donated 25 licenses each of MIDAS Civil, MIDAS Gen, and MIDAS GTS NX software to the universities to support students and academic staff, enabling them

the gap between academic learning and real-world engineering practices, ensuring that Nigerian engineers are equipped with cutting-edge resources. In the same vein, it will empower the beneficiary students to innovate and conduct meaningful research and ensure they are well-prepared for the demands of global engineering practice.

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

T H I S D AY • THURsday NOVEMBER 6, 2025

Politics

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

Kalu: In Reviewing Constitution, N’Assembly Will Focus on Issues of National Interest

Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, in this interview says the 10th National Assembly is focusing on critical issues of national interest in the Constitution Review, while acknowledging the vital role of the media to help achieve intended outcomes, among other salient issues. Charles Ajunwa reports.

espite his tight schedules at the just concluded retreat of the Joint Committee of the Senate and House of Representatives on Constitution Review held in Lagos, Deputy Speaker, House of Representatives, Hon. Benjamin Kalu spared time to intimate journalists with the activities of the Review Committee. Kalu, who started by thanking the media practitioners for always contributing to national development through their reportage, said the media should help drive conversations on some critical national issues being discussed by the 10th National Assembly. He listed local government autonomy, reserved seats for women, citizenship by investment, judiciary, security, economy as topical issues where conversations are needed to know the pulse of 250 million Nigerians. According to him, such nationwide conversations will help federal lawmakers to arrive at collective decisions, which he said will help the President to give assent to bills passed by the National Assembly. The Deputy Speaker likened the work of the National Assembly to that of a house builder, who after making the foundation of a building, meticulously started to put bricks one after the other in order ensure the building at the end of the day remains solid. “I want to thank you for your contributions in the thematic areas we have discussed. We have about 13 subject matters and 86 provisions that we are working on. We need to see direct conversations through research, public opinion to guide decision makers to arrive at decisions,” Kalu said. He cited the third tier of government, as one of the examples where people are beginning to pay attention to know what is happening. “For example, the President reads the newspapers every morning, which means he always values your opinion on topical issues. And we also search for your opinion to be able to guide our minds. We cannot do the research alone. We do public hearings, yes. But how sufficient is that to have generality of mindsets of the country, 250 million people. But through your engagements one way or the other, your correspondents all over the country feel the pulse of the nation, and be able to say, on this subject matter, I want to guide the country towards this action. You’re talking about autonomy for local governments...It will strengthen the mindset of the man who is going to give assent, it’s going to strengthen the mindset of the man who is going to vote. If they don’t read to know what you’re saying, they become confused. You can’t abandon us, you say it is your business. No! The Deputy Speaker also talked about Citizenship by Investment that most countries are tapping into to drive development, which he said “is not illegal”. “Why are we not talking about such things? It’s a topical issue. Comparative analysis of what other people have done in other countries and how it will help us. “What about the reserved seats? We don’t lose anything if we stand on two legs. It’s not to compensate women. The fact is that, comparatively speaking, research has shown that countries that invest in both areas in leadership, they do better.” He said having such a policy, will show fairness in governance, where both females

Kalu

and males are free to express their views on national issues without being shut out based on gender. “There are certain things that come naturally to them and those things are needed on the political table,” Kalu said, adding that “knowledgeable conversation” by the media will help to make citizens to have confidence in the system as “there are no threats in this particular proposition”. He said the 10th National Assembly is also working on other issues that have to do with leadership, elections, which he said they are willing to share with the media at the appropriate time. Though he acknowledged that the media may not agree with some of their decisions completely, Kalu said they put the interest of Nigeria first in all their deliberations and decisions.

According to him: “Beyond this Constitutional Review, I sit over all the reports of the House of Representatives and as the Chairman of the Committee of the Whole, every activity of the committees in the House ends up on my table. “I review all reports, all activities of the House, whether it is the Ad hoc Committee, whether it is the Standard Committee, every investigation, I review the contents of the reports before I close.” According to Kalu, the fulcrum of Nigeria’s democracy lies squarely on the legislature. “The fulcrum of our democracy is in the legislature, you remove it there is no democracy. But that fulcrum needs to bring confidence in the hearts of the people for democracy to survive.” Kalu said there’s a need for people to understand the workings of the legislature, especially as it has to do with constituency projects. He stated that as a federal legislator, when a school building collapses in his constituency, his constituents will

According to Kalu, the fulcrum of Nigeria’s democracy lies squarely on the legislature. “The fulcrum of our democracy is in the legislature, you remove it there is no democracy. But that fulcrum needs to bring confidence in the hearts of the people for democracy to survive.”

call him because they don’t understand the work of the legislature. “They don’t call their governor, they don’t call their House of Assembly member, they don’t call their chairmen, they don’t call their councillors, they will blame it on me because they don’t know. And we cannot be saying it for them to believe us because they will think we are running away from our responsibilities. “Educating Nigerians on the workings of the legislature is an issue so that Nigerians will come to know what to put in their expectation basket. “What is currently in there is not what the legislature is supposed to do. People are expecting you to do what is not within your constitutional mandate,” he explained. The Deputy Speaker, who described the parliament as true disciples of democracy that want to serve, pleaded that the media should “educate Nigerians what truly the work of the parliament is? “Can you actually blame Nigerians and say, you were expecting a doctor to do the work of a civil engineer. It’s the work of the executive to do some of this work. But Nigerians don’t know, and that is why many people have lost their seats in the parliament because what came out of the expectation basket of their constituents far outweighs what their constitutional mandate. “So this is why we’re saying, can we work together? Can we project some of the work that we are doing beyond lawmaking? Beyond call for action?”

T H I S D AY • THURsday NOVEMBER 6, 2025

POLITICS

Ministerial Screening: How Technocrat Dodo Dazzles Senators

In a political climate often coloured by controversy, partisanship, and stormy ministerial screenings, one man’s composure and competence briefly united the Senate chambers in admiration last Thursday. Sunday Aborisade reports.

r. Bernard Mohammed Doro, a pharmacist, lawyer, business administrator, and humanitarian, appeared before the Senate for his ministerial screening, and within minutes, turned what could have been another routine confirmation exercise into a powerful statement on merit, humility, and vision. It was not just a screening; it was a national introduction to a technocrat whose calm intellect resonated deeply with lawmakers from across party lines. As the red chamber settled into the business of the day, Senate President Godswill Akpabio took a moment to address the significance of the moment. “Distinguished colleagues,” he began with his trademark confidence, “we are now set to screen the nominee of President Bola Tinubu for appointment as Minister of the Federal Republic of Nigeria. Here before us is Dr. Bernard Mohammed Doro. It’s not common for the Senate to wait for a nominee, but we had to do so in this case.” There was a ripple of laughter across the hall as Akpabio lightened the tone. “Since this is your first ministerial nomination, I’m sure you’ll learn from this experience. I apologise on his behalf to my colleagues.” Accompanying the nominee were highprofile figures including the National Chairman of the All Progressives Congress (APC), Nentawe Goshwe Yilwatda, who Akpabio teasingly described as “on a mission to pick up the remaining crumbs from other political parties,” after receiving some defectors from the Labour Party at the House of Representatives earlier that day. Also present was the nominee’s wife, Naomi Buru Doro, and a handful of guests. The atmosphere was cordial, even expectant, as Doro approached the podium. Calm, articulate, and visibly grounded, he began by tendering an apology for arriving late, setting the tone for an appearance defined by humility. “Mr. President, distinguished senators,” he said. “First, I sincerely apologise for keeping the Senate waiting.” He continued: “Over the last 20 years, I have had the privilege of serving in various capacities across healthcare, leadership, and management, both in Nigeria and the United Kingdom.” Doro then outlined an academic and professional résumé that drew murmurs of approval. They included a career that straddled pharmacy, law, and business administration, and spanned multiple countries and sectors. He said, “I hold degrees and certifications in pharmacy, law, and business administration, among others. I am an independent prescriber in the UK, and my career spans clinical practice, regional operations management, legal and regulatory compliance, and staff development.” He spoke not as a politician rehearsing slogans, but as a professional recounting years of deliberate service and expertise. According to him: “Beyond my professional background. I have been active in humanitarian work, youth mentorship, and social impact initiatives. I have led strategic medical and pharmaceutical programmes, ensuring compliance with global standards and regulatory frameworks.” When Akpabio interjected, it was with the kind of respect reserved for those who clearly command their craft. “Dr. Doro,” he said, “we have reviewed your credentials and can see that you are not only qualified but perhaps overqualified. You’re a pharmacist, a lawyer, and a business administrator. With such a vast background, how will you apply this wealth of experience to national service if confirmed as Minister? What is your vision for the role?” The nominee did not flinch. “Mr. President,” he replied, “I plan to support the

Doro

Renewed Hope Agenda of President Bola Tinubu by drawing on my multidisciplinary experience to strengthen policy formulation and implementation. My goal is to ensure that government policies translate into tangible improvements in the lives of Nigerians.” It was a measured, confident response that reflected a mind trained to think in systems and outcomes, not slogans. Then came the turn of the Senators. From Borno North, Senator Mohammed Tahir Monguno rose, his question laced with urgency. “Mr. President,” he began, “this nominee comes highly recommended. Given the humanitarian crises across the country, particularly due to insecurity, if you are deployed to the Ministry of Humanitarian Affairs, what innovations would you introduce to effectively address these challenges?” The chamber listened. Deputy Senate President, Barau Jibrin followed, speaking not as an interrogator but as a witness. He said, “I’ve known the nominee for some time. He has worked

selflessly for the APC and Nigeria without seeking recognition. I commend President Tinubu and the APC Chairman for identifying such a competent and patriotic Nigerian. He’s more than qualified; let’s not waste time.” Senator Abdul Ningi from Bauchi Central offered a different angle, partly a challenge, and partly a counsel. He said, “Dr. Doro, Plateau and Bauchi are neighbours. Plateau once represented peace and unity in Nigeria. How do you intend to provide inclusive leadership that promotes peace in your home state? “Also, as a lawyer, please take note of Section 88 of the 1999 Constitution, which empowers the National Assembly to conduct investigations and summon any public official. Many ministers forget this after confirmation. I urge you to always respect legislative oversight.” It was a political reminder wrapped in a constitutional lecture, a subtle test of temperament. But Doro passed easily. He replied with composure: “Thank you, distinguished Senators. The humanitarian challenges we face are indeed significant. If deployed to the Ministry of Humanitarian Affairs, I will prioritise transparency, efficiency, and the dignity of affected persons. I plan to build a humanitarian ecosystem that integrates technology to accurately

For a nominee who walked into the Senate chamber with modest public recognition, he left as one of the few names that commanded near-total bipartisan respect. In the coming months, as Nigeria continues to wrestle with economic hardship, humanitarian challenges, and the politics of reform, Dr. Bernard Doro’s ministerial journey may yet prove a quiet but decisive test of whether competence can indeed make a comeback in public service.

target beneficiaries, reduce duplication, and strengthen inter-agency collaboration.” His answer bridged both the moral and the managerial, a synthesis not often heard in public office screenings. Then he turned personal, drawing from his identity to address the question of peace. He said, “On peacebuilding in the Plateau. I come from a multi-religious family. Both Christian and Muslim. I will use that background to promote inclusivity, tolerance, and unity among our people.” That last line struck a chord. The Senate, often divided along party, religion and regional lines, nodded in visible approval. For once, the conversation about competence rose above politics. Senator Jimoh Ibrahim representing Ondo South spoke next and delivered what sounded almost like a eulogy of excellence. He declared: “Mr. President, this is an impeccably clean candidate. Highly educated, with no security or integrity issues. He has answered excellently. Accompanied by our party chairman and his wife, he represents both merit and balance. I move that the nominee be asked to take a bow and go.” The motion was swiftly seconded by Senator Diket Plang of Plateau Central who said, “Mr. President, I second the motion. The nominee is worthy both in character and competence.” Senate President Akpabio smiled broadly. “The motion has been moved and seconded,” he said with satisfaction. “Those in favour that Dr. Bernard Mohammed Doro is fit and proper to serve as Minister and should take a bow and go, say ‘Aye.’” Again, the chamber thundered: “Aye!” no “Nay” Akpabio lifted the gavel. “The ayes have it. Congratulations, Dr. Doro. Please take a bow.” As the nominee bowed and exited the floor, a sense of rare unanimity lingered in the air. Lawmakers across partisan divides had just endorsed a man not for his political clout, but for his evident competence. In a system where ministerial nominations often draw criticism over patronage and tokenism, Doro’s screening offered a refreshing break. A case study in how expertise and character can still triumph in Nigeria’s politics of positioning. Beyond the formalities, however, the moment symbolised something larger. It reflected a Senate that, even if briefly, recognised the importance of technocratic capacity in the national project. It also reflected a President’s willingness, at least in this instance, to look beyond the old political calculus and nominate a man defined not by controversy but by competence. Doro’s performance at the screening was not theatrical; it was thoughtful. His emphasis on data-driven humanitarian interventions, digital targeting of beneficiaries, and transparent governance hinted at a reformist mind keen on redefining the public sector’s approach to human welfare. His multicultural identity and commitment to unity added a human touch to his technocratic profile. It is undoubtedly the blend Nigeria’s complex society desperately needs. For a nominee who walked into the Senate chamber with modest public recognition, he left as one of the few names that commanded near-total bipartisan respect. In the coming months, as Nigeria continues to wrestle with economic hardship, humanitarian challenges, and the politics of reform, Dr. Bernard Doro’s ministerial journey may yet prove a quiet but decisive test of whether competence can indeed make a comeback in public service. For now, his calm answers, disciplined intellect, and humility at the Senate stand as a model, not only of how a nominee should face scrutiny, but of how governance might look if merit once again becomes the standard.

T H I S D AY • THURSday, NOVEMBER 6, 2025

FEatures How CBN is Building Buffers to Protect Economy, Foster FX Inflows as Oil Prices Fall

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

Global oil prices have dropped significantly, now hovering just above $64 per barrel. For an oil-dependent economy like Nigeria, this continued decline in crude prices presents a serious concern rather than a relief. The Wall Street Journal’s grim forecast that Brent crude could fall below $50 per barrel by the end of 2025 only deepens the urgency for strategic policy responses. To strengthen economic buffers and sustain FX inflows, the Olayemi Cardoso-led Central Bank of Nigeria (CBN) has proactively initiated strong measures aimed at cushioning the domestic economy against the looming oil price shock and ensuring sustainable economic development. Precious Ugwuzor reports

he politics and talks around global oil prices always ignite significant worry on Nigeria and her revenues. Already, Brent futures eased by 0.71 per cent to $64.47pb as U.S.-China trade truce excluded energy discussions, keeping the supply outlook uncertain. Nigeria’s 2025 budget is squeezed by assumption of oil production of two million barrels per day and an oil price of $75 a barrel. At a benchmark of $75 per barrel and a production capacity of two million barrels per day (mbpd), Nigeria’s oil revenues would fall given the present oil price which is below budget benchmark. Such a shortfall could push the fiscal deficit to between six and seven percent of Gross Domestic Product (GDP), potentially fueling inflationary pressures and weakening macroeconomic stability. However, the CBN under the leadership of Olayemi Cardoso, has proactively initiated measures aimed at cushioning the domestic economy against the looming oil price shock. Among these are policies to boost Nigeria’s non-oil export potential, strengthen backward integration to reduce dependence on imported Cardoso goods, and streamline diaspora dollar remittances to enhance foreign exchange inflows. the naira, and attract investor confidence. Drawing from China’s economic strategy, the With these foundations now in place, he apex bank said Nigeria’s competitive exchange urged telecommunications companies to rate can drive export-led growth. embrace backward integration as a strategic To harness this potential, businesses are imperative. expected to adopt export-oriented strategies by targeting sectors with strong export potential In response, Airtel Africa CEO Sunil such as agriculture, manufacturing and creative Taldar commended the CBN’s reform industries; implement import-substitution models efforts and voiced strong support for by strengthening domestic production capabilities local production, noting that such a shift and reducing reliance on costly imports; and would ultimately yield long-term benefits focus on value addition by shifting from for the telecommunications industry. He exporting raw materials to processed goods, also reaffirmed Airtel’s commitment to thereby boosting foreign exchange earnings. expanding financial inclusion across Nigeria Cardoso said Nigeria’s creative sector has through innovative technology solutions. potential to attract $25 billion annually to the Research Head, Cowry Asset economy, highlighting the untapped opportunities Management Limited, Charles Abuede, said in Nigeria’s expanding creative sector, including the CBN governor’s call was to discourage music, film, crafts and digital exports. He urged the importation of foreign services into businesses to explore international markets, Nigeria, especially when efforts can be made digital platforms, and global tours to increase to develop such services locally. “The high dollar revenue inflows. demand for foreign exchange by telecom The CBN boss also recently advised telecom operators has further pressured the naira companies to reduce their dependence on due to increased demand for the dollar. foreign imports by producing key components However, with adequate infrastructure of their inputs locally. The backward integration development and a conducive operating proposal for the telecom industry comes at a environment facilitated by regulators, these time the real sector is in dire need of sustainable challenges can be mitigated,” he said. growth. The CBN boss gave insights on what According to Abuede, “given Nigeria’s FX the economy stands to gain from backward policies, illiquidity in the foreign exchange integration in the telecoms sector. market and infrastructure deficits, I think increased investment in the telecom sector Discouraging foreign services import would enable operators to embrace Speaking in Abuja during a visit by the Airtel backward integration. This would allow Africa management team led by Group CEO them to manufacture key components, Sunil Taldar, the CBN Governor underscored the such as SIM cards, locally. As a result, importance of boosting local production to ease production costs could decline—provided the pressure on the dollar, generate employment operating environment remains stable. This and strengthen the national economy. will improve profit margins and enhance He emphasised the urgent need to domestically both top-line and bottom-line growth in manufacture key telecom inputs—such as SIM the long run.” cards, cables, and towers—that are currently being imported in large volumes. Creating economic buffers amidst Cardoso highlighted that over the past 16 reforms months, the CBN has taken deliberate steps to Economic reforms instituted by the stabilize the foreign exchange market, strengthen CBN have removed distortions and laid

He said that Nigeria has a competitive naira, which is game changer that should attract investors to the economy. He said that with a competitive naira, FDIs inflows prospects to the economy has risen. Deputy Governor, Economic Policy at the CBN, Mr. Mohammed Sadi Abdullahi, said the apex bank has taken a lot on measures to prevent speculative activity and ensure best practices in the market operational framework. “Capital flows, which I mentioned, within the 2019–2020 period before, collapsed by over 75 per cent, have significantly improved and have therefore improved our external position. So, we do now have deeper and functional financial markets, much more robust and transparent. There’s been a significant increase in the average monthly turnover to $8.6 billion monthly in 2025 versus an average of $5.5 billion and much less in the year before. Today, CBN stands as a net supplier by less than about a percentage of the market turnover. We’re actually a net buyer in the market,” he said.

foundation for economic development, Cardoso has said. Speaking yesterday at the investors’ forum held at the sidelines of the ongoing IMF/World Bank Annual Meetings in Washington DC he said that bold and comprehensive reforms have led to greater macroeconomic resiliency and positive economic outcomes. The investors forum attended by JP Morgan and other stakeholders is meant to attract global investors to the domestic economy. He said the Federal Government will also issue about $2.3 billion Eurobond, which will also help refinance the $1.18 billion Eurobond maturing in November. He said the event provides a valuable opportunity to engage directly with our partners and investors who continue to show confidence in Nigeria’s future. Cardoso said the apex bank remain committed to prudent policy that would bring about durability, ensuring a lasting and positive impact in the economy. He said about four per cent growth target is being targeted, even as government is pushing through expansion of the non-oil sector growth. He said that inflation has continued to drop, with 18.02 per cent target in the nearest term. He said that gross foreign reserves have hit five-year high at $43.4 billion, with capacity to provide 11-month import cover for the country. He said that Nigeria currently enjoys positive balance of payment, contributing positively in easing economic stability. He said difficult economic reforms embarked on by the Federal Government is bearing positive results as seen the stability in exchange rate, stronger economic buffers, and dip in inflation numbers. Cardoso explained that apex bank has been able to build a stronger economy, through difficult things we have done.

Building resilient economy Nigeria’s economy has been fully restructured and is now resilient, with huge buffers against global risks, Cardoso told global investors at the annual meetings. Cardoso, who is the leader of the Nigeria delegation at the meetings, said the naira, has equally emerged as a competitive currency, with the economy witnessing positive trade balances and large businesses moving from imports to export of locally produced goods and commodities. According to him, the positive economic indicators have combined to create resilient and strong buffers, keeping the economy in great shapes. Speaking on the impact of the trade tariffs on the domestic economy, the CBN boss, said the tariffs are less of problems for the country. “And for us again, oil is basically the only commodity that was so exposed to the tariffs, and the impact of that was relatively modest. We now have a more competitive currency with the results that, for once, we have a situation where we have a positive balance of trade surplus, and we expect it to be six per cent in GDP for some time,” he said. “So basically, what is happening is a complete restructuring of the economy, where we are encouraging people to go into domestic production, and, of course, discouraging imports,” he added. “And I think we were very fortunate, because a lot of the things that were needed to have been done, we did them much earlier, and as a result of that, we're able to create resilience and buffers against potential shocks,” he stated. Cardoso explained that oil was the oil commodity that was exposed to the trade tariffs, but the impact was equally modest. “So, and of course, in terms of anchoring expectations, we found that those who followed the Nigerian economy were fairly comfortable. And for us, again, oil is basically the only commodity that was so exposed, and the impact of that was relatively modest,” he said. NOTE: Story continues in the online edition on www.thisdaylive.com

T H I S D AY • THURSday, NOVEMBER 6, 2025

features

Preparing for Life Beyond the Uniform: NAFRC Launches Course to Empower Officers Chiemelie Ezeobi

o prepare its personnel for life after service, the Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos State, recently kicked off the Middle and Senior-Level Officers’ Entrepreneurship and Management Course 16/2025. Designed to prepare military officers for life after service while advancing the Federal Government’s economic diversification efforts, the course was inaugurated by the Commandant of NAFRC, Air Vice Marshal (AVM) Bashir Mamman in partnership with the Empretec Nigeria Foundation, a United Nations Conference on Trade and Development (UNCTAD) initiative that promotes entrepreneurship and innovation. According to AVM Mamman, the programme was aimed at equipping officers with entrepreneurial and managerial skills required to achieve financial independence and contribute to national development after service. He said: “Our mission is to foster an entrepreneurial mindset, develop business acumen, and build the resilience needed to thrive in today’s dynamic business environment.” According to the Commandant, more than 260 senior officers had benefitted from the programme in the past, adding that 42 officers drawn from the three Services, the Defence Intelligence Agency (DIA), and NAFRC were enrolled for this session. He emphasised the Nigerian Armed Forces’ resolve to equip officers with entrepreneurial, managerial, and leadership skills that foster financial independence and sustainable livelihoods

Commandant of NAFRC, Air Vice Marshal (AVM) Bashir Mamman flanked by senior officers and participants of the Middle and Senior-Level Officers’ Entrepreneurship and Management Course 16/2025

beyond active service. “This programme is designed not only to prepare officers for life after service but also to cultivate innovation and adaptability while still in uniform,” he said. AVM Mamman revealed that the Centre had trained over 48,000 non-commissioned officers since inception, with 576 personnel currently undergoing pre-discharge training, while over 266 senior officers from the Armed Forces and sister security agencies have benefitted from the entrepreneurship programme since its introduction. He expressed appreciation for the support of President Bola Ahmed Tinubu, the Chief of Defence Staff (CDS), and the Service Chiefs for their commitment to national capacity-building, noting in particular the approval for a foreign training tour

to Songhai Farm in the Republic of Benin. “Our officers already understand the fundamentals of business, and while the Armed Forces traditionally encourage involvement in agriculture, it remains one of our top priorities. “That is why we take participants to Cotonou to observe and learn firsthand from a practical business farm, so they can gain the experience needed to develop their own agricultural ventures over time. “We expect that, upon completion of the course, participants will have acquired the necessary exposure to decide on specific business areas to pursue after retirement. “Since they are still in active service, we encourage them to begin planning and raising modest funds to start small-scale

ventures before disengagement. Equipment support, however, is reserved for personnel of other ranks at the point of retirement.” AVM Mamman urged the participants to begin small-scale ventures while still in service as part of their transition planning. Giving the course outline, Deputy Director of Training, Navy Captain J. A. Oklobia, said it would combine lectures, workshops, and study tours designed to develop participants’ entrepreneurial capacity. Planned visits include Spectra Industries, the Nigerian Conservation Centre, Commint Buka, and Songhai Farm in the Republic of Benin. He disclosed that 37 senior officers, 35 from the Services and two from the DIA, are participating in Course 16/2025, while five officers from NAFRC were also sponsored by the Commandant to attend the mid-level segment, bringing the total number of participants to 42. Representing the Empretec Nigeria Foundation, Mr. Tobe Rapu, speaking on behalf of Dr. Onari Duke, the Foundation’s Country Representative, described the partnership as “a shining example of institutional collaboration driving national human capital development. “This initiative empowers officers to view retirement not as an end, but as a new beginning—an opportunity to create value, generate employment, and contribute to national development,” he said. Rapu added that the programme combines leadership development, business strategy, corporate governance, and agribusiness training, offering officers practical tools to build profitable ventures and strengthen Nigeria’s entrepreneurial ecosystem.

Nigeria’s FATF Delisting Signals Renewed Global Confidence Says AML Expert Iguehi Onokevbagbe Uzoma Mba

igeria’s removal from the Financial Action Task Force (FATF) grey list has been described as a strong vote of confidence in the country’s financial-integrity architecture and a boost for investor sentiment. The global standard-setter for anti-moneylaundering (AML) and counter-terrorist-financing (CFT) compliance announced Nigeria’s delisting at its October 2025 plenary, acknowledging significant progress in remedying strategic deficiencies identified two years earlier. According to FATF, Nigeria demonstrated “substantial effectiveness” in key areas such as inter-agency coordination, risk-based supervision, and beneficial-ownership transparency — reforms that now bring its compliance framework closer to international benchmarks. Reacting to the development, Iguehi

Onokevbagbe, a Certified Anti-Money Laundering Specialist (CAMS) and former in-house counsel at the Central Bank of Nigeria, said the decision represents “a turning point for

Nigeria’s regulatory credibility.” “Delisting from the FATF grey list reinforces market confidence and demonstrates Nigeria’s ability to implement deep institutional reforms,” Onokevbagbe told ThisDay. “It underscores the progress made through coordinated supervision by the Central Bank of Nigeria, the NFIU, and the EFCC, as well as the growing adoption of technology-enabled compliance systems.” Onokevbagbe, whose widely cited paper “Addressing Illicit Financial Flows in Nigeria: The Role of AML/CFT/CPF Frameworks” analyses Nigeria’s enforcement trajectory, cautioned that sustaining compliance is as critical as achieving it. “Post-delisting, the priority must be institutional consolidation — building analytical capacity, ensuring effective feedback loops between regulators and reporting entities, and maintaining transparency in enforcement,” she said. “Financial-integrity gains can erode quickly if momentum slows.” She added that the FATF decision should be

leveraged to attract sustainable investment and strengthen correspondent-banking relationships previously strained by the grey-listing period. “Global investors watch these signals closely. A credible AML regime reduces perceived risk and expands financial inclusion,” she explained. Nigeria was placed on the FATF watchlist in February 2023 following concerns over implementation gaps and limited prosecution of financial-crime cases. Analysts note that its removal now restores Nigeria’s standing within the global financial community and eases cross-border transaction monitoring. For compliance professionals like Onokevbagbe, the delisting marks both progress and responsibility. “Nigeria has demonstrated that reform is achievable through commitment and collaboration,” she concluded. “The next challenge is to embed these reforms so that financial integrity becomes part of our institutional DNA.”

Mrs. Otti, Aisha Yesufu, Hilda Dokubo Back NGO to Give Voice to Girls in Abia Emmanuel Ugwu-Nwogo in Umuahia

A nongovernmental organisation, Protect the Precious Foundation(PPF) has elicited the support of prominent advocates of women rights in its tireless advocacy to give voice to the girl child in Abia. The PPF advocacy was supported y the wife of Abia State Governor, Mrs. Priscilla Chidinma Otti, renowned social activist and Co-Convener of the

BringBackOurGirls Movemen, Mrs. Aisha Yesufu, and nollywood star, Hilda Dokubo. They were on hand at the 2025 edition of the Girls Summit held in Umuahia to educate, enlighten and encourage Abia school girls to be bold and resolute in resisting any violation of their rights. The PPF has, for four years running, engaged in championing the rights and empowermemt of the girl child by giving them strong voice to speak out when faced with

abuse and any form of rights violations. Speaking at the 2025 edition of the Girls Summit organised by PPF in Umuahia, Wife of Abia State Governor, Mrs Priscilla Chidinma expressed delight "to be part of this incredible movement". She described herself as "a champion and advocate for the rights and empowerment of the girl child" hence her decision to collaborate with the "remarkable team behind the PPF. Mrs. Otti, who was

represented by the wife of the Abia Deputy Governor, Mrs. Adaeze Emetu, lauded the PPF founder, Ambassador Nora Okafor, for making her organisation to "stand as a beacon of hope, dedicated to championing the rights and dignity of the girl child". "With a vision to safeguard her integrity and a mission to empower her with knowledge of her identity, you tirelessly work to address the myriad challenges she faces". "I applaud your visionary

initiative to establish school clubs, a noble endeavor aimed at mentoring and guiding secondary school girls, empowering them with the wisdom, confidence, and resilience needed to navigate life's challenges and seize opportunities". The Abia first lady noted the actuvities of PPF align with her vision and support for the girl child, adding that "in Abia State, we hold the empowerment of the girl child in the highest esteem,

recognizing it as a sacred trust". She stated that her office champions the rights of the girl child "with firm dedication, and promote their welfare with unrelenting passion". Mrs. Otti said that both her office and humanitarian pet project, Safe Tent Care Initiative have remained "steadfast in our commitment to unlocking the boundless potential of our girls, for we believe that they are the embodiment of hope and promise".

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

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T H I S D AY

EDITORIAL

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

THURSDAY NOVEMBER 6, 2025

KANO AND THE POLIO CHALLENGE The states should intensify routine immunisation of children

or the health sector in Nigeria, nothing can be more distressing than the confirmation by the Kano State Primary Health Care Management Board of four new variants of the polio virus. Since a threat of the disease in any state is a threat to all children, routine immunisation must be intensified while we enjoin health officials in all parts of the country to do more to improve their coverage level. In August 2020, Nigerians celebrated the eradication of wild polio virus, a crippling disease that had for decades devastated many families in our country. But in a notable setback, cases of the highly contagious disease have been confirmed recently in both Jigawa and Kano States. Besides, there is another challenge: the emergence of a variant strain named the circulating vaccine-derived poliovirus type 2. This strain, which can mutate from the oral polio vaccine (OPV), poses a serious threat to children particularly in areas where immunisation coverage remains low. Polio is an infectious disease caused by a virus which invades the nervous system and often causes irreversible paralysis. It can strike at any age but mainly affects children under five. There is no cure for polio as it can only be prevented through vaccination. Yet, as long as a single child remains infected with polio, unvaccinated children all over the world are at risk. In 2012, Nigeria had accounted for more than half of all global polio cases. But the country made significant progress, thanks to the concerted efforts from all levels of government, international organisations, civil society, religious and traditional leaders as well as tens of thousands of dedicated health workers to contain the disease. We must recreate that collaboration between and among all stakeholders to tackle the current threat.

Earlier in the year, health authorities from Lake Chad Basin countries of Nigeria, Cameroon, Niger, Chad, and the Central African Republic (CAR) launched a regional polio vaccination campaign aimed at immunising over 83 million children under the age of five. The five-day campaign in the conflict-ridden Chad Basin, a critical area in the fight against polio, is targeted at high-risk and mobile populations in border areas, and to strengthen efforts towards containing the spread of the type 2 variant. According to the World Health Organisation (WHO), the initiative is crucial in the fight against the variant which continues to pose a threat to millions of children across the region. Indeed, the variant has been detected both in wastewater samples and among affected individuals in Nigeria, Cameroon, Chad, and Niger in the past 18 months with reported cases of paralysis. The need for a coordinated regional action is further highlighted by the fact that over 50 per cent of the polio cases reported in Chad in 2024 were linked to the strain circulating in Cameroon. Thankfully, to ensure the new strain is contained, a campaign has also been flagged off in many high-risk northern states in Nigeria where the disease is predominant. For instance, authorities in Kano State have called on parents and guardians to allow their children to be vaccinated to prevent the affliction. The state has accounted for several of the cases of the variant two strain recorded in Nigeria between 2023 and now. The resurgence of polio virus is an indication that the battle is not yet won. But we commend the Lake Chad Basin initiative which aligns with the Africa Regional Polio Eradication Action Plan and the Polio Eradication Cross-Border Coordination Plan 2024–2025. It underscored the region’s united commitment to protecting every child. However, state governors must take the lead in tackling the challenge.

As long as a single child remains infected with polio, unvaccinated children all over the world are at risk

T H I S D AY

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

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

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

LETTERS CURBING VOTE BUYING IN THE ANAMBRA ELECTION

This Saturday, the people of Anambra State will once again head to the polls to elect their governor for the next four years. The Independent National Electoral Commission (INEC), from all indications, appears fully prepared for this crucial exercise. This election also stands as the first litmus test for the new INEC Chairman, Professor Joash Amupitan, who has vowed to conduct free, fair, and credible elections across Nigeria. While INEC’s preparedness is commendable, there remains a recurring menace that has continued to threaten the integrity of Nigeria’s electoral process, vote buying and voter inducement. Over the past few years, this ugly trend has plagued elections across the country, undermining democracy and eroding the people’s confidence in the system. Political parties and their candidates, regardless of

ideology or standing, have often resorted to using money, food items, drinks, and other material gifts to sway voters to their side. This practice must be condemned by all well-meaning Nigerians and decisively stamped out. Elections should not be an auction where the highest bidder emerges victorious; rather, they should be a reflection of the genuine will of the people. The Anambra State gubernatorial election must not be allowed to fall into the same trap. Ndi Anambra should be given the freedom to choose their preferred leader without coercion or inducement. The responsibility of curbing vote buying rests largely on the shoulders of the security agencies. All eyes are on them to ensure that political party agents and politicians who engage in such acts are promptly apprehended and

prosecuted. Beyond arresting offenders, security personnel must remain neutral, professional, and apolitical in the discharge of their duties. Heads of security agencies must also ensure that all allowances for officers deployed for election duty are paid promptly to prevent any form of compromise. It is encouraging that all the gubernatorial candidates have signed a peace accord, pledging to maintain calm and ensure that their supporters conduct themselves peacefully at polling units and collation centres. This commitment must be upheld in both words and actions. Political ambition should never be placed above the peace and progress of Anambra State. Tochukwu Jimo Obi, Obosi, Anambra State

T H I S D AY • Thursday, November 6, 2025

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

N o v e m b er

S & P INDEX

5 , 2 0 2 5

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EXCHANGE RATE

OPR

25.34%

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23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,502 / 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT Wed., November 5, 2025

3-MONTH

22.41%

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0.24%

Report: Connectivity Speed in Urban Networks Rises as Operators Invest More in 4G LTE Technology

Emma Okonji Connectivity speed in urban networks of telecoms operators continues to increase, with an average download speed of 19 megabits per second (Mbps) and a latency period of 30 milliseconds (ms), according to the latest report on connectivity speed in rural and urban communities, released by the Nigerian Communications Commission (NCC). Connectivity speed is the rate at which data is transferred between devices and the internet,

while latency is the time it takes a network to complete a given task. According to the report, the rise in connectivity speed in urban networks is sequel to the huge investments in 4G LTE technology by telecoms operators in recent times. The rise in connectivity speed in urban networks has however created a wide margin in the connectivity speed gap between urban and rural networks, whereby the average download speed of rural networks is 12.7 Mbps, compared to the 19

Mbps in urban networks, while the latency period in rural networks is 37 ms, compared to 30 ms latency period in urban network, which is a much shorter period of completing a given task, according to the NCC report, which THISDAY obtained from its official website. The report also puts the upload speed in urban networks at 9.6 Mbps, and puts the upload speed in rural networks at 6.1 Mbps, a development, the report said, created upload connectivity speed gap of 3.5 Mbps between urban

and rural networks, thus making urban network speeds more solid for video streaming, calls, data and office tools. While analysing the performance of rural networks in terms of download and upload speeds, the report explained that the rural median download speeds improved significantly, roughly doubling from 7.5 Mbps in January 2025 to 15.0 Mbps by September 2025. The report however said that despite the strong growth, the absolute speed

gap between urban and rural networks maintained a consistent 5-6 Mbps difference, as urban infrastructure keeps pace with rural gains, locking in a tiered performance model. Highlighting the technology driving connectivity speed in urban networks, the report further explained that LTE (4G) remained the core technology being deployed by network operators in urban areas. “LTE performance is consistently reliable, positioning it as the main

mobile broadband option through at least 20282030. Rural LTE speeds are climbing, reaching up to 15 Mbps. 5G is Niche: Urban 5G reaches impressive download speeds (180-220 Mbps), but it trends downward and lacks latency gains over LTE, keeping it niche for now. 3G is winding down and 3G speeds are flat-lining, indicating operators are maintaining but not expanding these assets ahead of a phase-out plan,” the report said.

reassured Nigerians of its resolve to unlock rural economic potential with digital connectivity. The commission restated this in Lagos during the Rural Connectivity Summit, organised by the Rural Connectivity Initiative in partnership with key industry stakeholders, themed: “Rethinking Digital Connectivity to Unlock

Rural Economic Potentials.” According to NCC, the accurate measure of connectivity is not in megabits per second, but in the economic value it creates, adding that for the industrialist, the miner, the entrepreneur, and security services, connectivity is an indispensable enabler. In his keynote address, themed: “Leaving Nobody

Behind: Leveraging Regulatory Advantages to Bridge Nigeria’s Digital Divide,” the Executive Vice Chairman of NCC, Dr. Aminu Maida, said digital divide in rural areas became a barrier to education, healthcare, financial inclusion, and economic empowerment, insisting that ridging the divide is central

to achieving inclusive national development, particularly in rural areas. Maida, who was represented by the Zonal Controller, Lagos Zonal Office of the NCC, Mr. Tunji Jimoh, said: “A community without digital connectivity is functionally invisible, cut off from modern education, global markets, specialised healthcare, and opportunity.

The digital invisibility in rural communities is an unacceptable situation that we must act decisively to end. Central to this effort is the pursuit of Universal and Meaningful Connectivity (UMC), as emphasised in the ITU’s ICT Development Index (IDI) 2025.

The story continues online on www.thisdaylive.com

NCC Restates Commitment to Unlock Rural Economic Potential with Digital Connectivity Emma Okonji

Determined to achieve inclusive national development, particularly in rural areas, where over 45 per cent of Nigeria’s population lives, but continues to face systemic exclusion from digital opportunities, the Nigerian Communications Commission (NCC) has

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T u e s d ay, N o v e m b e r 5 , 2 0 2 5 BONDS Description Price Yield Change Updated Time (%) ^16.2884 17November 100.28 16.01 0.00 5, 2025 MAR-2027 November ^19.94 20104.68 16.01 0.00 5, 2025 MAR-2027 ^13.98 23November 95.76 16.21 0.00 FEB-2028 5, 2025 ^21.00 20November 109.25 16.15 0.00 MAR-2028 5, 2025 ^14.55 26November 108.40 16.04 -0.07 5, APR-2029 2025

BILLS Maturity NTB 6-Nov25 NTB 4-Dec25 NTB 8-Jan26 NTB 5-Feb26 NTB 5-Mar26

Discount Yield

CPs

Change (%) Updated Time

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16.47

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SIBP CP I 11DEC-25 CILE CP V 11-DEC-25 EULL CP IX 18-JAN-26 SKIS CP XV 23-JAN-26

16.17

Discount Yield 19.63

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23.41

24.07

19.51

20.39

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CLEARED NAIRA-SETTLED NDFS Change (%)

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November 0.00 5, 2025 November 0.00 5, 2025 November 0.02 5, 2025 November 0.02 5, 2025

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS NOV 13M – 25 2026 NGUS DEC 14M – 30 2026 NGUS JAN 15M – 27 2027 NGUS FEB 16M – 24 2027 NGUS MAR 17M – 31 2027

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November 5, 2025 November 5, 2025 November 5, 2025 November 5, 2025 November 5, 2025

Thursday, November 6, 2025 • T H I S D AY

BUSINESSWORLD

INTERVIEW

Theuri: Nigerian Market is Strategic for Business Growth Chief Technology Officer at Glovo, Shiro Theuri, who was in Nigeria recently for a special assignment, spoke about Glovo’s business growth and expansion in Nigeria, and the opportunities in deploying emerging technologies to further enhance customers’ experience. Emma Okonji presents the excerpts: As the Chief Technology Officer at Glovo, how do you view Nigeria’s potential as a growing market for technology-driven investments? s the Chief Technology Officer at Glovo, how do you view Nigeria’s potential as a growing market for technology-driven investments? I firmly believe that there are tremendous opportunities in Africa, but more so in Nigeria. It’s been amazing to see the innovation coming out of Nigeria and putting the continent on the global map. The median age in Nigeria is super young, a very huge young population. Smartphone and internet penetration is growing every other year, and it’s ripe for disruption when it comes to innovation. In markets like African markets, technology is particularly important because it allows us to leapfrog a lot of the challenges that we face, whether it’s from an infrastructure perspective or financial inclusion and banking. You don’t really need the infrastructure to be there for you to get people to embrace and use these technologies. When you look at all these different pieces, Nigeria is ripe for disruption and innovation. I think there are tremendous opportunities in Nigeria, and the youth demographics speak for themselves.

to be tapped into, to be disrupted. We feel that compared to over-penetrated markets like the ones we have in Europe, there are opportunities in markets like Nigeria. That’s why we feel that over the next two, three, or five years, there’s so much in penetrating the market even further and trying to make sure that we solidify our presence in markets such as Nigeria.

What first attracted Glovo to invest and expand operations in Nigeria, and how has the journey evolved so far? Glovo for us, it was a very clear decision to not just expand in sub-Saharan Africa, but particularly Nigeria. I don’t think anyone has a good success story of expanding into Africa and not talk about Nigeria. It’s a very relevant market. That was the first thing for us. We wanted to be present in the sub-Saharan African market, and you cannot do that without being present in Nigeria, being present in certain strategic markets across the continent. That’s the first one. The second is what I talked about before,

T h e ur i

which is just the basic raw material that should be present to allow for companies and businesses to thrive. For us, it’s the very huge young population, and the smartphone and internet penetration in the market, and the non-existence of a second or a third player in the market. Now things have changed a little bit, but this was the reality back in 2021 when we moved into Nigeria. Now things have shifted a little bit, but it’s still a very exciting market for us. How does Nigeria fit into Glovo’s broader vision for growth across

What role do data, AI, and digital infrastructure play in strengthening Glovo’s operations and improving efficiency in Nigeria? Data and emerging technologies are key to our business growth, and I think that African markets are particularly interesting in the sense that they allow us to leapfrog a lot of the usual traditional development milestones. A market like Kenya, for example, where financial inclusion was super low, and then we had the emergence of technology such as M-Pesa, which suddenly grew financial inclusion in Kenya to over 80 per cent. So, it leapfrogged the traditional model of owning a bank account, and doing a regular KYC with financial institutions. To me, Artificial Intelligence (AI) is going to do something like that for Africa because I think it provides a unique opportunity to leapfrog traditional challenges such as the lack of infrastructure. So, now we’ll probably Africa and other emerging markets? be looking at AI-driven logistics solutions. Our strategy is very simple. We Look at what’s happening in Rwanda with want to continue growing in food Zipline. I don’t know if you’ve seen this, but business. That is providing all our it’s a drone delivery business that no longer customers all around the world in needs any visible road, brick-and-mortar all our 23 markets with options for infrastructure. They’re just delivering very them to order their foods. The other critical healthcare solutions to very remote parts angle is that we want to make sure that of the country. I think this is what’s going to we’re present as a multi-category lead. happen with AI and robotics and emerging If you look at the opportunity that we technologies. have in markets like Nigeria, Kenya, Cote d’Ivoire, where we’re present, the The story continues online on opportunity is immense. There’s still a www.thisdaylive.com huge untapped market that’s just ready

Supply Chain Finance in Africa: A Shared Prosperity

Ade Adefeko

frica, recognized as the cradle land of man, and blessed with abundant economic, agricultural, and human resources holds 65% of the world’s uncultivated arable land and employs more than half of its workforce in the agricultural sector which is a driver of food security, trade and industrialization. Yet, this potential remains largely untapped, limiting the attainment of shared prosperity across the continent. Plagued by systemic bottlenecks, with one of the most pressing being limited access to affordable finance, the agricultural supply chain across Africa is not optimal. According to the IFC, the financing gap for agri-SMEs and smallholder farmers on the continent is estimated at $117 billion. This gap leads to post-harvest losses, inconsistent production, and weak integration into formal markets. Logistics inefficiencies and infrastructure gaps compound the problem, creating a cycle of low productivity and limited growth. Supply Chain Finance (SCF) offers a transformative solution, not only as a financial tool but as an inclusive economic growth enabler across Africa’s supply chains. By leveraging the creditworthiness of large buyers, SCF provides short-term, working capital financing to farmers, processors, and distributors. This approach unlocks liquidity, reduces

financing costs, and strengthens value chain resilience. With SCF, African agribusinesses can invest in mechanization, improve storage, and ensure timely delivery, enabling them to scale operations and compete in global markets. Lack of Access to Working Capital Large Corporates and Government buyers often have long payment terms or simply just delay payments. Small suppliers, who have to pay for raw materials and labor upfront, cannot cover this cash-flow gap leading to slow growth of their business due to unpredictable and delayed cash flow from overdue receivables. Even when credit is available, interest rates are very high making borrowing prohibitive because banks are highly risk averse to lending to small suppliers due to lack of collateral, insufficient data on their financial history and high default risk. SCF as a solution As a powerful engine of shared prosperity across Africa’s agricultural value chain, SCF can unlock affordable, collateral-free financing for SMEs. For input suppliers, it ensures steady cash flow to deliver quality seeds and equipment; for farmers, it provides early payment and working capital to invest in better yields; and for aggregators, manufacturers, and logistics providers, it bridges cash gaps to scale

operations, reduce waste, and strengthen supply networks. Distributors and retailers benefit from improved inventory financing, while consumers gain access to affordable, reliable products. Financial institutions and fintechs also grow by safely extending credit through buyer-backed transactions, driving financial inclusion and market data generation. By connecting all actors, from seed producers to end consumers, supply chain finance creates a more resilient, equitable ecosystem, fueling food security, job creation, and inclusive economic growth aligned with the Sustainable Development Goals and Africa’s Agenda 2063 vision (African Union’s long-term blueprint for transforming the continent into an integrated, prosperous, and peaceful region by 2063). The African Continental Free Trade Area (AfCFTA) amplifies this potential by removing trade barriers, expanding market access, and enabling seamless cross-border supply chains. By harmonizing trade policies and opening Africa’s $3.4 trillion market, AfCFTA creates fertile ground for SCF solutions to thrive, ensuring agricultural value chains can scale beyond borders. Shared prosperity in African agriculture requires that every participant capture fair, timely value from their contribution—input suppliers, smallholders and commercial producers, aggregators, manufacturers, storage providers, transporters, distributors and wholesalers, retailers, and the enabling

services that connect them. When one link is starved of affordable finance, the entire chain pays—through stockouts, quality downgrades, post-harvest loss, and missed export windows. This is the missing opportunity.

Insights from other markets Supply chain finance (SCF) platforms are reshaping agricultural and trade ecosystems across diverse markets. Case studies from Brazil, Nigeria and South Africa are note below: • Nigeria – Sonnex Group In Nigeria, digital marketplaces like Fiducia are redefining the landscape by connecting buyers, suppliers, and financiers on a single platform, automating invoice financing, enabling low-cost funding, and scaling operations for MSMEs across different sectors. Sonnex Packaging Nigeria partnered with Fiducia to implement a digital Supply Chain Finance (SCF) solution aimed at improving working capital and cash flow for its suppliers. In a market where high borrowing costs and limited access to financing constrain small and medium-sized enterprises, Fiducia’s platform enabled Sonnex’s suppliers to receive early payments at competitive rates, reducing financial strain and enhancing operational efficiency. The story continues online on www.thisdaylive.com

T H I S D AY • Thursday, November 6, 2025

BUSINESSWORLD

NEWS

UK Govt Convenes Working Group Dialogue on Trade and Investment Stories by Emma Okonji The UK and Nigeria have launched the UK-Nigeria Economic Diversification Working Group Dialogue, a strategic follow-up to the recently concluded Developing Countries Trading Scheme (DCTS) Roadshow in Kano and Lagos states. Convened under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the event brought together senior government officials, trade experts, and private sector leaders from both nations. Opening the event, British Deputy High Commissioner Mr. Jonny Baxter reaffirmed the UK’s commitment to deepening bilateral trade relations, which was valued at £7.9bn in the12 months

ending March 2025. He reaffirmed the UK’s commitment to supporting Nigerian exporters through the Developing Countries Trading Scheme (DCTS), which provides generous tariff reductions and simplified trade rules. “Today’s dialogue marks a significant milestone in the UK-Nigeria partnership. It reflects our shared commitment to driving inclusive, sustainable economic growth through strategic exports diversification. By working together, government to government and with the private sector through our market development programmes like Propcom+, we are unlocking new opportunities for trade, investment, and innovation

across key sectors,” Baxter said. Also speaking, Director of Trade and Investment,

representing Ambassador Abba Nura Rimi, Permanent Secretary, Federal Ministry of Industry, Trade and

Investment, Mrs Orji Gertrude said: “This DCTS initiative comes at a critical time when Nigeria is intensifying efforts

to diversify its export base beyond oil and strengthen its participation in global value chains.”

MTN Posts Strong Q3 Performance with N3.7trn Revenue MTN Nigeria has established successful business in Nigeria, since the rollout of its commercial services in 2001. The telecoms company recently released its Q3 2025 financial statement, declaring revenue of N3.7 trillion for the period ended September 30, 2025. Highlights of performance over the business period, showed that mobile subscribers grew by 11 per cent to 85.4 million during

the period. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 123 per cent to a bouncy N1.9 trillion. According to analysts, the strong performance of MTN, underpinned a viable return to dividend payment. There’s an interim dividend payment of N5 per 2 kobo ordinary share approved by the Board of Directors to be paid to shareholders whose names appear in the company’s

Register of Members as at the close of business on November 20, 2025, subject to the appropriate deduction of withholding tax, according to the company’s secretary, Uto Ukpana, a Fellow of the Chartered Institute of Secretaries (FCIS). Giving details of the financial report, MTN Nigeria’s Chief Executive Officer, Karl Olutokun Toriola, said: “We are pleased to report that MTN Nigeria has

restored its positive earnings and shareholders’ equity positions. This is a significant milestone that demonstrates strong operational momentum and disciplined execution. Supported by a more favorable macroeconomic environment and price adjustments, the outcome was driven by the delivery of our strategic and commercial initiatives, commitment to efficiency and prudent financial management.”

‘Artificial Intelligence Will Drive Productivity, Save Time’

in partnership with processes, or by using it to in his speech, noted that IEEE, Baze University Stories by Agnes Ekebuike Google Apolitical in Abuja, recently. better deliver to our people,” AI adoption in civil service “We see Artificial the minister said. remained critical to digital The Minister of Intelligence as a major driver West Africa Director at Communications Innovation Highlight Strategies for and Digital Economy Dr. of productivity across our key Google, Mr. Olumide Balogun, transformation. “Structured training is the Bosun Tijani has said Artificial sectors. We have been putting stated that the motivation cornerstone for successful AI Global Digital Inclusion Intelligence (AI), will catalyse resources into ensuring that behind Google’s support adoption in government. This production and save time we can support our civil for the digital transformation initiative is a pioneering effort The local organising committee of the Institute of Electrical and Electronics Engineers (IEEE), in collaboration with Baze University, Abuja, has highlighted strategies to connect the unconnected in order to boost digital inclusion across the globe. The strategies were highlighted recently when the local organising committee of the IEEE Connecting the Unconnected Europe, Middle East, and Africa (CTU-EMEA) Summit 2025, paid a courtesy visit to the management of Baze University, Abuja. Speaking during the visit, Okafor emphasised the historic nature of the summit, stating that the event represents a watershed moment for Africa’s digital transformation agenda. “This is the first time Nigeria is hosting a major IEEE CTU international summit of this magnitude. We are bringing together over 200 global leaders— ministers, regulators, industry CEOs, and technology innovators—to

address the challenge of connecting 2.9 billion unconnected people worldwide, with particular focus on African solutions,” Okafor said.

in public service delivery, if properly deployed. He stated this at the commencement of the AI skills training for Nigerian civil servants organised by

Elizade JAC Autoland Introduces New Models, Reaffirms Commitment Raheem Akingbolu As part of its continued journey to deliver quality, innovation, and value to the Nigerian automobile market, Elizade JAC Autoland Limited, the sole distributor of JAC vehicles in Nigeria, has marked another milestone with the launch of two new JAC models, the JAC T9 Pickup and JAC JS8 PRO SUV. Speaking about the two exciting additions to its lines, Chairman of Elizade JAC Autoland Limited, Oye Hassan-Odukale, said the company has always been driven by one mission, “To connect our customers to vehicles with combined performance, reliability, style, while ensuring excellent

after-sales support”. Also speaking at the event, the Senior Brand Manager at Elizade JAC Autoland Limited, Olumide Olaokun, emphasised that both vehicles were created with the Nigerian family in mind, which combines rugged reliability with modern luxury. “When you choose the JAC T9 or JS8 PRO, you’re choosing durability, safety, and comfort that meet global standards,” Olaokun said. The Managing Director/ CEO of Elizade JAC Autoland, Demola Ade-Ojo, reaffirmed the company’s long-term commitment to the Nigerian market, emphasising innovation, affordability, and customer satisfaction as the brand’s driving values.

Nigeria’s Solar Panels Earn Global Quality Mark The leading indigenous solar manufacturing company, LPV Technologies, has earned the TÜV SÜD certification for the country’s first premium-grade solar panels, signaling more than just compliance but a transformation in local solar manufacturing credibility. In a statement, the company said meeting the rigorous International Electrotechnical Commission (IEC) standards,

LPVT’s panels now stood shoulder-to-shoulder with the world’s most trusted solar technologies. General Manager of LPV Technologies, Omobola Omofaiye, said: “This certification is a testament to our commitment to excellence. We have built a product that reflects global excellence while being deeply rooted in Nigeria’s energy realities.”

According to Omobola, “This innovation redefines the meaning of ‘Made in Nigeria’ to a globally acceptable benchmark. LPVT’s TÜV-certified panels offer higher energy yield, lower degradation, and reliable output even in low-light environments, making them a premiumgrade solution for Nigeria’s evolving energy landscape.”

servants and our public service in a manner that AI can become something that is native to them to accelerate and shorten the time we spend on administrating our

training was to invest in the people who would shape the future by providing better services. The Vice President of Apolitical, Chris Ferguson,

that will equip Nigerian public servants with the capabilities to lead the digital transformation with confidence and foresight,” he said.

T H I S D AY • THURSday, NOVEMBER 6, 2025

business/MOnEYGUIDE

Dantsoho Urges African Ports to Deepen Collaboration for Blue Economy Growth

Sunday Ehigiator

The Managing Director of the Nigerian Ports Authority (NPA) and President of the Port Management Association of West and Central Africa (PMAWCA), Dr. Abubakar Dantsoho, has called on member nations to strengthen regional collaboration to harness Africa’s vast maritime potential and accelerate socio-economic growth through the blue economy. Speaking at the 45th Annual Council Meeting of PMAWCA in Pointe-Noire, Republic of Congo, Dantsoho said the subregion’s shared destiny, natural endowments, and maritime advantages should serve as unifying forces for sustainable development. Represented by the General

Manager Corporate Affairs, Ikechukwu Onyemekara he emphasised that the association is prioritizing climate and energy, data collaboration, and risk resilience as key pillars for transforming Africa’s port operations. Dantsoho noted that at the World Port Conference in Kobe, Japan, African port leaders pledged to drive growth through a threepronged strategy of policy implementation, renewed cooperation, and trade facilitation, a commitment the NPA is determined to uphold. “The waters that connect our countries remind us of our duty to work together for the good of all,” he said, urging participants to view themselves as custodians of Africa’s economic future.

He added that resilient port infrastructure, security, and transparency remain crucial to competitiveness and integration across the continent. The PMAWCA President also lauded the government and people of the Republic of Congo for hosting the meeting and commended the association’s secretariat for sustaining a platform that fosters cross-regional dialogue and innovation in maritime governance. “Competition has shown to be useful up to a certain point and no further, but cooperation; which is the thing we must strive for today, begins where competition leaves off,” Dantsoho quoted Franklin D. Roosevelt, as he urged unity in advancing Africa’s maritime future.

Effi & Associates Joins ALPi as Group Expands into Francophone W’Africa Effi & Associés, a leading business law firm based in Abidjan, has officially become the tenth member firm of Africa Law Practice International (ALPi), the fastgrowing Pan-African legal and professional services network. The on-boarding ceremony took place at the offices of Effi & Associés in Abidjan and marks a major milestone in ALPi’s strategic expansion into Africa, generally, and Francophone West Africa, in particular. With this addition, ALPi now operates in Nigeria, Ghana, Kenya, Tanzania, Uganda, Rwanda, South Sudan, Namibia, Mauritius and Côte d’Ivoire, making it one of Africa’s most geographically diverse and AfCFTA-focused law networks. Welcoming the firm into the ALPi network, Senior Partner of ALPi Nigeria, Mr. Olasupo Shasore (SAN), said: “Getting one of the

most highly regarded lawyers in Francophone Africa, Serge Effi, and his firm, Effi & Associès to join the ALPi Practice Group is fantastic news for us and for our clients, including those across the ten African Union member states where we now operate. Serge’s cross-border experience and the bilingual strength of Effi & Associés deepen our capacity to serve clients in both civil and common law systems. This step advances our commitment to building a truly Pan-African legal services platform designed for the AfCFTA era, and for truly opening up African business.” Adding his voice, Senior Partner of Africa Legal Associates (ALP Ghana), Gabby Asare OtchereDarko, stated: “Africa is becoming increasingly a single market, where we see our clients, from

multinationals to SMEs, expanding across borders. That’s why we are deliberate about ensuring that ALPi has a presence across the continent for our clients and potential partners both within Africa and globally. Having Effi & Associés as part of the family perfectly aligns with our vision to build a one-stop, high-quality advisory firm for clients seeking to do or expand their business in Africa.” In his response, Dr. Serge Effi, Managing Partner of Effi & Associés, expressed enthusiasm about joining the network: “We are very happy to be part of this Pan-Africanfocused law family. This partnership is greatly welcomed by our clients, and it enhances our ability to offer seamless legal services across both civil law and common law jurisdictions.”

SEC Tasks Registrars Other CMOs on Innovations Kayode Tokede

The Securities & Exchange Commission (SEC) has challenged registrars and other Capital Market Operators (CMOs) to drive innovations and explore new opportunities in unlocking current changes in the global market. This was stated by Director-General, SEC, Dr. Emomotimi Agama at the Institute of Capital Market Registrars (ICMR) 14th Annual Conference & Presidential Investiture during the weekend in Lagos. The theme of the 2025 conference was, “Unlocking Global Value: The evolving market role of capital market registrars

in trust, efficiency and innovation.” Agama who was represented by executive commissioner (Operations), SEC, Mr. Bola Ajomale, charged registrars to remain innovative and proactive, warning that unregulated players could take over their functions if the profession fails to evolve. In a goodwill message, the Group chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, described registrars as ‘the quiet custodians of confidence and credibility’ whose accuracy and efficiency underpin investor trust and corporate governance. Group Vice President of Dangote Industries Limited, Mr. Olakunle

Alake, who delivered a keynote address, outlined three imperatives for the registrar profession. “Digitisation and cybersecurity: embrace digital platforms, but with robust safeguards to protect data integrity. Capacity building and training: continuous education must be non-negotiable. The world is changing too fast for outdated skills. Global benchmarking: aim not just to meet local standards, but to benchmark against global best practices,” he said. Founder and vice chairman of Emerging Africa Group, Dr. Toyin Sanni, urged registrars to reposition themselves as trusted, tech-enabled partners in the investment value chain.

L-R: Managing Director, BUA Foods, Engr. Ayodele Abioye; Managing Director, Axxela Gas Distribution, Kehinde Alabi; Managing Director/Chief Executive Officer, UAC Foods Limited, Oluyemi Oloyede, and Head, Sales & Marketing, Axxela, Eromonsele Agboighale, at Axxela Annual Customer Appreciation Forum …recently.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) NOVEMBER

Month

Money Supply (M3)

108,966,480.44

-- CBN Bills Held by Money Holding Sectors

19,796.18

Money Supply (M2)

108,946,684.26

Quasi Money

72,672,756.90

-- Narrow Money (M1)

36,273,927.36

---- Currency Outside Banks

4,652,527.74

---- Demand Deposits

31,621,399.62

Net Foreign Assets (NFA)

17,347,112.78

Net Domestic Assets(NDA)

91,619,367.66

-- Net Domestic Credit (NDC)

115,576,757.67

---- Credit to Government (Net)

39,616,629.91

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

75,960,127.77

--Other Assets Net

12,147,461.96

Reserve Money (Base Money)

30,871,571.25

--Currency in Circulation

4,878,125.22

--Banks Reserves

25,993,446.02

--Special Intervention Reserves

278,860.37 • Source - CBN

Money Market Indicators (in Percentage) Month

November

Inter-Bank Call Rate

28.88

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

27.50

Treasury Bill Rate

18.00

Savings Deposit Rate

6.56

1 Month Deposit Rate

8.48

3 Months Deposit Rate

9.53

6 Months Deposit Rate

12.13

12 Months Deposit Rate

14.22

Prime Lending rate

18.39

Maximum Lending Rate

31.06

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27.50%

OPEC DAILY BASKET PRICE As At 6TH JANUARY , 2025

The price of OPEC basket of twelve crudes stood at $76.18 a barrel on Monday, compared with $75.89 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY • THURSday, NOVEMBER 6, 2025

mARKET NEWS

Agama: Nigeria’s Non-interest Capital Market Now Worth N1.6trn Kayode Tokede The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, yesterday disclosed that Nigeria’s noninterest capital market has grown to a valuation of over N1.6 trillion, underscoring its expanding role in deepening

financial inclusion and supporting infrastructure development. Speaking at the 7th African International Conference on Islamic Finance (AICIF) 2025, held in Lagos, Dr. Agama said the growth reflects investors’ confidence and the success of the Commission’s regulatory reforms under the Investments and Securities Act (ISA) 2025. He stated: “The remarkable

P R I C E S MaiN Board

F O R DEALS

growth of the non-interest segment in Nigeria — a market now valued at over N1.6 trillion — is clear evidence that when there is an enabling regulatory environment, the market responds with vigour”. He noted that Nigeria’s sovereign Sukuk programme has raised over ₦1.4 trillion through seven issuances since 2017, financing the construction

S E C U R I T I E S Market Price

quantity traded

and rehabilitation of 124 critical roads covering more than 5,820 kilometres across the country. Agama added that the recent approval of a $500 million international Sukuk would mark the next phase of Nigeria’s effort to attract ethical financing for infrastructure and economic growth. He emphasized that the rapid growth of Islamic finance across the continent shows

T R A D E D

value traded ( N )

MaiN Board

Africa’s readiness to embrace non-interest instruments as a mainstream funding source. He cited examples from Egypt, Kenya, Tanzania, Senegal, and Ghana, which are strengthening legal and policy frameworks to attract Shariah-compliant investments. Dr. Agama commended Metropolitan Skills for its role in advancing Islamic finance

and said resolutions from the conference would feed into the Second Nigerian Capital Market Masterplan (2026–2035), as the first plan concludes this year. He urged stakeholders to continue using Islamic finance as a tool for ethical investment, financial inclusion, and infrastructure renewal, stressing that “prosperity without inclusion is not sustainable.”

A S O F N OV E M B E R / 5 / 2 5 DEALS

Market Price

quantity traded

value traded ( N)

T H I S D AY • THURSDAY, NOVEMBER 6, 2025

MARKET NEWS 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 04 November 2025, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 599.28 603.32 50.76% Afrinvest Plutus Fund 384.29 384.29 13.96% Nigeria International Debt Fund 100.00 100.00 16.79% Afrinvest Dollar Fund 114.11 114.11 5.40% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 19.23% AIICO Balanced Fund 7.56 7.67 32.34% AIICO Eurobond Fund 100.00 100.00 7.87% Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 0.00 0.00 0.00 Anchoria Equity Fund 0.00 0.00 0.00 Anchoria Fixed Income Fund 0.00 0.00 0.00 ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 51.89 53.45 46.35% ARM Discovery Balanced Fund 1,043.72info@anchoriaam.com 1,075.19 31.30% ARM Ethical Fund 102.78 105.88 49.89% ARM Eurobond Fund 1.21 1.21 10.88% ARM Fixed Income Fund 1.36 1.36 22.34% ARM Short Term Bond Fund 1.19 1.19 17.77% ARM Shariah Fixed Income Fund 1.13 1.13 13.16% ARM Short Term Eurobond Fund 1.04 1.04 4.98% ARM Specialized Dollar Fund 1.03 1.03 #DIV/0! ARM Money Market Fund 1.00 1.00 19.25% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 114.99 114.99 12.92% AVA GAM Fixed Income Dollar Fund 1,276.27 1276.27 22.61% AVA GAM Fixed Income (Naira) Fund 1.00 1.00 17.05% AVA GAM Money Market Fund AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00% AXA Mansard Equity Income Fund 0.00 0.00 0.00% AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.77 2.77 7.98% CEAT Fixed Income Fund 5.89 6.02 34.02% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.06 1.06 14.24% CardinalStone Fixed Income Alpha Fund 1.10 1.10 10.15% CardinalStone Dollar Fund 1.65 1.67 39.76% CardinalStone Equity Fund 1.15 1.15 14.96% CardinalStone Balanced Fund 1.00 1.00 18.36% CardinalStone Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Money Market Fund 0.00 0.00 0.00 Nigeria Bond Fund 0.00 0.00 0.00 Paramount Equity Fund 0.00 0.00 0.00 CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.71% 116.61 116.61 12.76% Cordros Fixed Income Fund 123.27 123.27 11.19% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 117.66 117.66 7.05% Cordros Milestone Fund 227.61 229.26 23.64% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 18.61% Coronation Balanced Fund 2.09 2.12 26.83% Coronation Fixed Income Fund 1.50 1.50 9.83% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund 0.00 0.00 0.00 EDC Nigeria Balanced Fund 0.00 0.00 0.00 EDC Nigeria Halal Fund 0.00 0.00 0.00 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 0.00 0.00 0.00 Emerging Africa Bond Fund 0.00 0.00 0.00 Emerging Africa Balanced Diversity Fund 0.00 0.00 0.00 Emerging Africa Eurobond Fund 0.00 0.00 0.00 Emerging Africa Halal Fund 0.00 0.00 0.00 FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100 100 17.59% FBN Bond Fund 1753.36 1753.36 11.06% FBN Dollar Fund 126.46 126.46 7.27% FBN Halal Fund 0 0 13.41% FBN Specialized Dollar Fund 122.89 122.89 7.74% FBN Blended Dollar Fund 470.15 474.86 45.06% FBN Balanced Fund 494.25 501.07 52.63% FBN Smart Beta Equity Fund 107.48 107.48 7.48% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund (LMMF) 0.00 0.00 0.00 Legacy Debt Fund (LDF) 0.00 0.00 0.00 Legacy Equity Fund (LEF) 0.00 0.00 0.00 Legacy USD Bond Fund (LUBF) 0.00 0.00 0.00 FCMB-TLG Private Debt Fund 0.00 0.00 0.00 FSL ASSET MANAGEMENT LIMITED Adeniran.Daniel@fsl.ng Web: https://www.fsl.ng/asset-management ; Tel: +2348062727759 Fund Name Bid Price Offer Price Yield / T-Rtn FSL Money Market Fund 1.00 1.00 0.00% FSL Euro Bond 1.00 1.00 8.83% FIRST ALLY ASSET MANAGEMENT LIMITED blossom.omojughare@first-ally.com Web: https://first-allyasset.com/ ; Tel: +2348023217850 Fund Name Bid Price Offer Price Yield / T-Rtn FAAM Money Market Fund 1.00 1.00 19.53% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral income fund 0.00 0.00 0.00 Coral money market fund 0.00 0.00 0.00 FSDH HALAL FUND 0.00 0.00 0.00

FSDH dollar fund 0.00 0.00 0.00 Coral Balanced Fund 0.00 0.00 0.00 HILLCREST CAPITAL MANAGEMENT dabbey@hillcrestcapmgt.com Web: https://hillcrestcapmgt.com/; Tel: +2348075144540, 0214540094 Fund Name Bid Price Offer Price Yield / T-Rtn Hillcrest Balanced Fund 0.00 0.00 0.00 LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS HALAL FIXED INCOME FUND 1,271.31 1,271.31 12.70% LOTUS HALAL INVESTMENT FUND 2.90 2.95 34.15% LOTUS HALAL EQUITY EXCHANGE TRADED FUND 58.99 65.20 92.43% LOTUS WAQF ENDOWMENT FUND 1,206.72 1,206.72 9.19% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 0.00 0.00 0.00 Meristem Value ETF 0.00 0.00 0.00 Meristem Growth ETF 0.00 0.00 0.00 Meristem Fixed Income Fund 0.00 0.00 0.00 Meristem Dollar Income Fund 0.00 0.00 0.00 Meristem Money Market Mutual Fund 0.00 0.00 0.00 MANGO ASSET MANAGEMENT jetadafe@mangoam.com Web:https://mangoam.com/; Tel: +234 7030839517 Fund Name Bid Price Offer Price Yield / T-Rtn Mango Naira Money Market Fund 1.00 1.00 17.54% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED

enquiries@norrenberger.com

Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 0.00 0.00 0.00 Norrenberger Islamic Fund (NIF) 0.00 0.00 0.00 NORRENBERGER DOLLAR FUND (NDF)-----($) 0.00 0.00 0.00 NORRENBERGER TURBO FUND (NTF)-----(N) 0.00 0.00 0.00 PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 0.00 0.00 0.00 PACAM Fixed Income Fund 0.00 0.00 0.00 PACAM Money Market Fund 0.00 0.00 0.00 PACAM Equity Fund 0.00 0.00 0.00 PACAM EuroBond Fund 0.00 0.00 0.00 SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn The Frontier Fund 0.00 0.00 0.00 SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 0.00 0.00 0.00 SFS REIT 0.00 0.00 0.00 UH REIT/SFS 0.00 0.00 0.00 STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund Stanbic IBTC Bond Fund Stanbic IBTC Dollar Fund (USD) Stanbic IBTC Shariah Fixed Income Fund Stanbic IBTC Enhanced Short-Term Fixed Income Fund Stanbic IBTC Absolute Fund UPDC REIT Stanbic IBTC Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical Fund Stanbic IBTC Guaranteed Investment Fund Stanbic IBTC Imaan Fund Stanbic IBTC Nigerian Equity Fund SIAML Pension ETF 40 Stanbic IBTC Aggressive Fund Stanbic IBTC Conservative Fund

STL ASSET MANAGEMENT LIMITED Web: WWW.STLASSETMGT.COM; Tel: 8136115170 Fund Name STL MONEY MARKET FUND STL BALANCED FUND STL DOLLAR FUND

UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name United Capital Money Market Fund United Capital Sukuk Fund United Capital Fixed Income Fund United Capital Nigerian Eurobond Fund United Capital Global Fixed Income Fund United Capital Stable Income Fund United Capital Equity Fund United Capital Balanced Fund United Capital Wealth for Women Fund United Capital Children Investment Fund VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund Vetiva USD Fixed Income Fund QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Zenith Balanced Strategy Fund Zenith Income Fund Zenith Income Fund Zenith Money Market Fund ZEDCREST INVESTMENT MANAGER LIMITED Web: www.zedcrestwealth.com; Tel: +2348075881240 Fund Name Zedcrest Money Market Fund Zedcrest Fixed Inocme Fund Zedcrest Dollar Fund REITS Fund Name SFS REIT UPDC REIT

10.00 259.03 1.60 135.27 139.68 5,168.20 11.59 9,625.58 519.99 4.56 381.70 953.31 41,935.13 498.00

10.00 259.03 1.60 135.79 143.18 5,170.86 11.59 9,717.62 519.99 4.63 382.22 966.40 42,509.38 498.00

17.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 50.92% 26.83% -97.72% 7.88% 91.43% 65.47% -38.52%

12,469.37 9,288.30

12,639.02 55.75% 9,326.73 36.66% jemenike@stlassetmgt.com

Bid Price 100.00 1,404.31 111.18

Offer Price Yield / T-Rtn 100.00 20.39% 1,425.33 41.48% 111.18 11.18% unitedcapitalplcgroup.com

Bid Price 1.00 1.20 1.95 123.57 1.24 125.85 1.92 2.21 1.77 1.09

Offer Price Yield / T-Rtn 1.00 16.88% 1.20 14.30% 1.95 10.47% 123.57 9.76% 1.24 4.32% 125.85 3.94% 1.94 47.32% 2.23 32.04% 1.79 36.69% 1.09 10.89% funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn 14.28 14.38 39.45% 34.94 35.04 112.21% 53.57 53.77 46.28% 1.00 1.00 17.56% 59.45 59.65 29.03% 145.10 147.10 16.59% 1.00 1.00 17.56% service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 33.85 34.26 59.17% 39.53 39.90 48.45% 29.88 29.88 7.09% 1.00 1.00 17.27% investmentoperations@zedcrest.com Bid Price 0.00 0.00 0.00

Offer Price 0.00 0.00 0.00

NAV Per Share

Yield / T-Rtn 0.00 0.00 0.00 Yield / T-Rtn

0.00

0.00%

9,326.73

36.66%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

T H I S D AY • THURSday, NOVEMBER 6, 2025

Health & lifestyle

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

2025 Mental Health Day: Spotlight on Journalists and their Hidden Struggles

Behind the polished bylines and breaking news alerts are men and women silently grappling with burnout, trauma, and emotional fatigue from endless encounters with tragedy and pressure; they tell the stories that move nations, yet few pause to ask how they themselves are holding up. In commemoration of the 2025 Mental Health Day, Sunday Ehigiator turns the spotlight on the hidden struggles of members of the ‘Fourth Estate of the Realm’

ach year, as the world marks World Mental Health Awareness Day on October 10, attention turns to those struggling silently under the weight of depression, trauma, and anxiety. Governments, NGOs, and healthcare advocates often emphasise access to services and the need to destigmatise mental illness. Yet, there’s a striking irony: the people who tirelessly report these stories, the journalists who amplify the call for mental health awareness, are often battling their own unseen mental wars, without care or attention. This year’s theme, ‘Access to Services: Mental Health in Catastrophes and Emergencies,’ could not be more relevant to the lives of journalists. For many in the newsroom, mental health challenges don’t come from a single catastrophic event; they are the product of a career that thrives on crisis, sharing others’ pain, pressure, and perpetual deadlines. The Invisible Weight In Nigeria, journalists cover some of the most distressing events imaginable: terrorism, political violence, corruption, kidnappings, ritual killing, building collapse, road accidents, human rights violations, and other kinds of disasters. They chase truth through chaos, often with little or no protection, no counselling, and certainly no safety net. Imagine the reporter covering the aftermath of a mass killing, a road accident, or the grief of families at a morgue after a collapsed building. They are expected to remain objective, detached, and professional; even as they absorb other people’s pain daily. Unlike first responders who may receive psychological debriefings, journalists are rarely offered therapy or post-trauma support. Imagine being asked to repeatedly expose yourself to the worst of humanity: murders, explosions, carnage, loss. You stand there, tape recorder in hand, pen ready, emotions suppressed. This is the daily job of journalists, but it’s also a psychological toll many simply choose to ignore. “Mental health is about balance,” says one journalist covering political and security beats. “It’s the ability to stay emotionally stable despite the chaos around you, but absorbing human pain, fear, and anger chips away at that balance over time.” In newsrooms across Nigeria, the expectation remains that journalists be tough, unflappable, and always available. Conversations about mental well-being are rare, seen as signs of weakness rather than triggers for support. As another reporter puts it, “The culture rewards endurance, not vulnerability. Until someone breaks down, or makes a mistake, nobody realises how much pressure we’re under.” Burnout is Real, and Growing Aside from personal distress, the

emotional distress journalists experience stems from two fronts: exposure to traumatic content in the field and relentless pressure in the newsroom. “Protests, domestic violence, raids, operations gone wrong; I replay those images over and over,” says another correspondent. “Burnout is a constant. Deadlines never stop. Calls keep coming. There’s little room to breathe.” Many reporters admit to feeling numb or deeply anxious, often without seeking help because therapy is expensive and stigmatised. Assignments like these wallop them the hardest: terrorist attacks, building collapses, child abuse, deaths during childbirth warranted by suspected negligence, and cases where law enforcement officers are perpetrators. These scenes leave lasting emotional scars that resurface during sleepless nights or when unwanted memories intrude on daily life. For many journalists, the dangers go beyond emotional trauma; they face physical threats, too. Riots, violent mobs, and armed conflicts turn reporting missions into life-or-death situations. Some even die in the line of duty. One journalist recalls, “I had to stay at the office for a month during the #EndSARS protests because I was too afraid to go home. Seeing fear, anger and confusion up close changed me. After the trauma, there was no debriefing, no counselling, nor support at all.” Even when newsrooms provide transport, safety gear is seldom supplied, and safety briefings are almost nonexistent. “You feel unsafe,” another journalist reveals. “Most times, we’re on our own, no training, no protective gear. If something goes wrong, your organisation distances itself.”

tears behind the scenes when putting their thoughts into writing after covering traumatic events. Similarly, examples abound of TV presenters crying uncontrollably while reading scripted news of a traumatic event live on air. Now imagine the state of mind of the correspondent at the traumatic scene, who, after seeing the scene first-hand, speaks to witnesses or survivors, before putting together his/her report for presentation at the office. This culture of silence drives many journalists into quiet suffering. The pressure to deliver exclusive stories, meet daily deadlines, navigate shrinking media budgets, and face online harassment adds to the emotional toll. For female journalists, the burden is even heavier, combining work-related stress with gender-based threats, sexual harassment, and societal expectations. A recent study commissioned by UNESCO and implemented by the International Centre for Journalists (ICFJ) revealed that over 73 per cent of female journalists globally have experienced online violence in the course of their work, including threats of physical and sexual violence, along with digital security attacks. Yet only a few of this percentage ever sought professional help. In Nigeria, where mental health services are still limited and stigmatised, the figures are likely even higher.

Testimonies from the Field Responding to THISDAY survey, one reporter recounts being detained by police during an assignment in the Niger Delta, accused of being a kidnapper. The emotional damage was severe, even though his publisher eventually intervened. The Myth of the ‘Strong Journalist’ Another reporter traced his trauma Journalism, by tradition, glorifies to an extensive investigation of police toughness, the ability to get the story brutality, where his award-winning exposé regardless of the cost. The image of the was insulted by management, implying ‘strong journalist’ who doesn’t break, he had taken bribes. “That accusation complain, or show emotion is deeply from my editor, someone who should ingrained in the profession. Many fear have supported me, destroyed me.” that admitting to burnout, trauma, or A third respondent describes the depression could be seen as a sign of haunting aftermath of covering the weakness, or worse, incompetence. #EndSARS protests, where no support In a THISDAY research conducted in followed the psychological distress he light of this report, several journalists experienced. admitted they sometimes can’t hold back Such incidents reveal a troubling trend; their emotions and end up shedding mental trauma is met with negligence or,

worse, punishment rather than treatment. The Cost of Bearing Witness Reporting is not just a job; it’s a commitment to bearing witness. But bearing witness comes at a cost. Continuous exposure to trauma stories can lead to secondary traumatic stress (STS), burnout, and even post-traumatic stress disorder (PTSD). A field correspondent who covered insurgency in the North-East recalls the emotional aftermath of interviewing internally displaced persons (IDPs): “After every visit, I felt drained. Hearing their stories, the children who lost their parents, the women who were raped, haunted me. I started avoiding calls from my editor. I just couldn’t do it anymore.” Sadly, such experiences are rarely discussed in Nigerian newsrooms. There’s little institutional support or understanding of mental health. Instead, the prevailing attitude is “you chose this job, suck it up.” There is an unpopular axiom in the media parlance, ‘Journalists are the worst drunk, the biggest abusers of drugs, and a chainsmoker’. While there is no empirical study yet to back up these claims, the possibilities of a traumatised journalist returning to alcohol, drugs, or smoking as a coping mechanism are as real as human existence. Unsustainable Coping Mechanisms A popular coping strategy among Nigerian journalists is emotional detachment; the deliberate act of distancing oneself from the story’s emotional gravity. “I tell myself, ‘I’m here to tell the story, not live it.” But this approach often breaks down when nightmares set in or when the gravity of tragedy presses down. Some rely on faith, family, or friends, while others, faced with the industry’s negligence, resort to drinking, smoking or retreating into silence. Professional counselling is rarely accessed due to cost and stigma. “We don’t have insurance that covers therapy,” one reporter admits. “A session can cost nearly a month’s salary. Most of us just rely on faith or use alcohol. It’s not ideal, but it is the reality. Besides, we are talking about an industry where the salary is not constant. You may go 8 months without salary, while the publisher is living in largesse. So, where would you have money to go for therapy? Even when you eventually get paid, the first thought is to clear your debts and take care of your family. ” The story continues online on www.thisdaylive.com

THURSDAY, NOVEMBER 6, 2025 • T H I S D AY

THURSDAY, NOVEMBER 6, 2025 • THISDAY

NEWS

FIRST AID TRAIN-THE-TRAINER TRAINING UNDERGRADUATE...

L-R: Clinical Facilitator, NaijAidUK and HealthAid Charity, Dr. Folake-Bewaji Dawodu; Head of Special Projects, Lagos State Ministry of Health, Representing Lagos State Commissioner for Health, Dr. Tolu Ajomale; CEO/ Founding Trustee of NaijAidUK and HealthAid Charity, Dr Olanrewaju Nehan-Babalola; Chairman, Africa Space Foundation, MACOSINE Designs, Abimbola Alale PhD; and , , Clinical Facilitator, NaijAidUK and HealthAid Charity Dr. Caroline Abisogun, at the First Aid Trainthe-Trainer Training for Undergraduate and First Responders in Lagos. …yesterday PHOTO: SUNDAY ADIGUN

Tinubu, Sultan, Uzodimma, Govs, Media Personalities Headline Editors’ Conference

The Federal Capital Territory (FCT), Abuja, is bubbling as editors of print, online, broadcast organisations and news agencies, under the umbrella of the Nigerian Guild of Editors (NGE), arrive from across the country for their annual conference holding on November 12 and 13, 2025. No fewer than 500 members of the NGE, government officials, members of the business community and diplomatic corps as well as people from all walks of life are expected at the two-day conference holding at the Presidential Villa Banquet Hall, Abuja and the Nigerian Air Force (NAF) Conference Centre, Jahi, Abuja respectively. NGE President, Eze Anaba and General Secretary, Onuoha Ukeh, confirmed in a statement on Wednesday that President Bola Tinubu will declare the conference open on November 12, 2025 at the Presidential Villa Banquet Hall, Abuja, while the Sultan of Sokoto, His Eminence, Alhaji Muhammad Saad Abubakar and Prince

Nduka Obaigbena, Chairman of Arise New and This Day newspaper will be Chairman of conference. The Guild said that Imo State Governor, Senator Hope Uzodimma, will be keynote speaker, emphasizing that the theme of the conference, “Democratic Governance and National Cohesion: The Role of Editors,” and sub-theme as: “Electoral Integrity and

Trust Deficit: What Nigerians Expect in 2027” are germane at this time when the country is facing socio-political and economic challenges. Stating the editors’ conference is a credible platform to discuss and proffer solutions to issues pertaining to national development and cohesion, the Guild said that papers and speakers have been carefully selected to address nagging

(NAF) Conference Centre, former Chief of Defence State, Gen Lucky Irabor, will speak on “Media, Terrorism, and National Security: Addressing the Complexities,” while Dean, School of Post-Graduate Studies, Baze University, Prof. Abiodun Adeniyi, will interrogate “The Evolving Face of Journalism: Battling Misinformation, AI Disruption, and Credibility Gap.”

Demands review of revenue formula Says FG too broke to meet obligations as states ‘feed fat’ on national allocations Sunday Aborisade in Abuja Former Special Adviser to exPresident Muhammadu Buhari on National Assembly Matters (Senate), Senator Ita Enang, has warned the federal government and its officials to exercise restraint in reacting to the reported designation of Nigeria by the United States as a “Country of Particular Concern.”

Enang, who also served as Chairman of the Senate Committee on Rules and Business in the 8th National Assembly, said the issue carries grave diplomatic implications and must be handled with a single, coordinated national voice rather than scattered individual opinions. Speaking in an interview with journalists in Abuja on

Insists all forms of cannabis are destructive, remain banned in Nigeria

The National Drug Law Enforcement Agency (NDLEA) has alerted the general public about the circulation of dangerous illicit substances being falsely packaged and marketed to the public as medicinal cannabis. A statement by the spokesman of the antinarcotics agency Femi Babafemi on Wednesday said the public alert comes on the

Prof. Sheriff Ghali Ibrahim, HOD, Political Science and International Relations, University of Abuja, will take the stage thereafter to speak on: “State of the Nation: Imperative of Economic and Political Reforms in Challenged Nation” to conclude the day’s event. On the second day of the conference on November 13, 2025 at the Nigerian Air Force

Ita Enang Warns Against Hasty Reactions to US CPC Labelling

NDLEA Warns on Danger of Medicinal Cannabis Michael Olugbode in Abuja

issues in governance, polity and journalism. The statement said that Prof. Awa Kalu, eminent lawyer, Senior Advocate of Nigeria (SAN) and Managing Partner, Awa Kalu & Partners, will address the conference on November 12, 2025, speaking on “Election Disputes and Judicial Integrity: Navigating the Thin Line Between Law and Politics.”

heels of credible intelligence, which led to the arrest of a 28-year-old drug kingpin Afeez Salisu (a.k.a Malu) last Saturday at his 2 Akala Street, off Umoru Street, Idi Oro, Mushin, Lagos State enclave from where he was packaging and distributing the fake medicinal cannabis in designer pouches and cups. Babafemi disclosed that a total of 16.4 kilogrammes of dangerous and synthetic strains of cannabis including Colorado, Arizona,

Canadian Loud and Ghana Loud packaged in designer pouches and cups labelled as medicinal cannabis, were recovered from his store. He said: “The Agency therefore wishes to warn Nigerians especially the youth that these so-called medicinal products are, in reality, adulterated and highly potent strains of dangerous psychoactive substances, and are not the regulated, safe pharmaceutical preparations they are purported to be.

Wednesday, Enang said, “This is a diplomatic matter that must be treated with utmost caution.” He said, “I want Nigeria and Nigerians, particularly officers of government, to be guarded in their response. Not every government official should make statements capable of inflaming the situation or misrepresenting the country’s position.” He advised that the Presidency, the Ministry of Foreign Affairs, the National Intelligence Agency, and the leadership of both chambers of the National Assembly should come together

to craft a harmonised national response to the development. “What we have seen is that many in sensitive positions make comments which they believe are personal opinions. But given their offices, those remarks are perceived internationally as Nigeria’s official stance, which is wrong,” Enang stated. According to him, the Senate and the House of Representatives should hold joint leadership sessions to agree on a unified legislative position, exchange drafts, and pass identical resolutions to ensure that the

voice of Nigeria is coordinated. He said the National Intelligence Agency (NIA) and the Ministry of Foreign Affairs should lead the interface on the matter, warning that “this is not an issue to be debated on social media or in random interviews.” On domestic policy, Enang raised the alarm over what he described as the fiscal suffocation of the federal government, arguing that Nigeria’s current revenue allocation formula is obsolete and unfair to the central government.

UNICEF Canvasses Inclusiveness Sanitation to Achieve Universal Access to Safe Sanitation

Fidelis David in Akure

The United Nations Children’s Fund (UNICEF) has called for Citywide Inclusive Sanitation (CWIS) as a sustainable strategy to achieve universal access to safe sanitation in the country. Mr. Monday Johnson, Water, Sanitation, and Hygiene (WASH) Specialist at the UNICEF Lagos Field Office, made the call

on Wednesday at a two-day media dialogue on Accelerating Actions to Improve Urban Water, Sanitation and Hygiene (WASH), in Nigeria, held at Ilaji Town, Ona-Ara Council Area of Oyo State, to improve urban sanitation in Nigeria. The workshop was organised by the Oyo State Ministry of Information in collaboration with UNICEF to equip

media professionals with the knowledge and skills to raise advocacy in support of WASH services. Participants in the media dialogue were drawn from the six Southwest states and Edo. Johnson said an inclusive sanitation strategy would protect public health and unlock the economic benefits of waste management in urban areas.

THISDAY • THURSDAY, NOVEMBER 6, 2025

NEWS

EKO ARTS AND CRAFTS COMPETITION FOR SECONDARY SCHOOLS AND TERTIARY INSTITUTIONS...

L–R: Judges of the Eko Arts and Crafts Competition, Dr. Fola David and Mr. Femi Adeleke; Representative of Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mr. Taoreed Dosunmu; and Senior Special Assistant to Lagos State Governor on Tourism, Arts and Culture, Damilola Ayinde-Marshal, during the presentation of cheques to winners of the maiden edition of Eko Arts and Crafts Competition for Secondary Schools and Tertiary Institutions, held at Adeyemi Bero Auditorium, Alausa, Ikeja… recently

Nwite to Resume Terror Suspects’ Trial as DSS Toughens on Extremists, Dismisses 115 Linus Aleke in Abuja

The Federal High Court, Abuja, presided over by Justice Emeka Nwite, will on November 19, continue the trial of two internationally wanted terrorism suspects, Mahmud Muhammad Usman and Abubakar Abba, alleged leaders of the notorious Jama’atu Ansarul Muslimina fi-Biladis Sudan (ANSARU)

— Nigeria’s Al-Qaeda affiliate. The Department of State Services (DSS) had captured the duo in July during a high-risk, intelligence-led counterterrorism operation, following several months of pursuit. In a statement, Deputy Director of Public Relations and Strategic Communications at the DSS, Favour Dozie, said both men were believed to be

senior figures within ANSARU. According to the statement, Usman, also known as Abu Bara’a, served as the self-styled Emir of ANSARU and allegedly coordinated terrorist sleeper cells across the country. He was accused of masterminding several high-profile kidnappings and robberies used to finance terrorist activities. His deputy, Abubakar Abba,

also known as Isah Adam or Mahmud Al-Nigeri, allegedly headed the Mahmudawa cell, which operated around Kainji National Park—an area spanning the borders of Niger and Kwara States and extending into the Republic of Benin. The Office of the National Security Adviser (ONSA) earlier disclosed that Abba received terrorist training in Libya

NIS to Replace Emergency Travel Certificate with Single Travel Emergency Passport Michael Olugbode in Abuja

The Nigeria Immigration Service is set to introduce a Single Travel Emergency Passport (STEP) to replace the existing Emergency Travel Certificate (ETC). The announcement was made by the ComptrollerGeneral of Immigration, Kemi Nandap, during the Joint Thematic Meeting of the Khartoum, Rabat and Niamey Processes, organized and co-hosted by Nigeria in collaboration with Government of France. Nandap, while making the

announcement at the meeting, disclosed the initiative forms part of the Service’s ongoing reforms aimed at strengthening Identity Management and Border Governance frameworks in line with global best practices. A statement on Wednesday by the spokesman of NIS, Akinsola Akinlabi said the high-level meeting convened critical stakeholders in migration management in Nigeria and abroad including. The stakeholders included: National Commission for Refugees, Migrants and

Internal Displaced Persons (NCFRMI), National Agency for Prohibition of Traffic in Persons and other Related Matters (NAPTIP), Representatives from ECOWAS, AU, EU, African and European countries. He disclosed the meeting seeks to reinforce coordinated prevention, protection, and prosecution responses to Migrant Smuggling and Trafficking in Persons across African and European migration routes among participating Migration Agencies, and serving as a platform for sharing

best practices, aligning legal frameworks, and fostering inter-agency cooperation. The forum underscored the importance of collective and sustained action in addressing the root causes of irregular migration, dismantling transnational criminal networks, with emphasis on the protection of rights of objects migrants smuggling and victims of human trafficking.

between 2013 and 2015, under foreign jihadist instructors from Egypt, Tunisia, and Algeria. He was reportedly skilled in weapons handling and the fabrication of improvised explosive devices (IEDs). Both suspects are facing a 32-count terrorism charge. Usman has already been convicted and sentenced to 15 years’ imprisonment after pleading guilty to one count of illegal mining, while Abba pleaded not guilty to all counts. In a related terrorism trials, the DSS is also prosecuting Khalid Al-Barnawi, alleged mastermind of the 26 August 2011 bombing of the United Nations Building in Abuja, which killed 20 people and injured over 70. Captured in 2016, Al-Barnawi is being tried alongside four others — Mohammed Bashir Saleh, Umar Mohammed Bello (aka Datti), Mohammed Salisu, and Yakubu Nuhu (aka Bello Maishayi). The trial, however, has suffered several delays due to procedural challenges,

including the absence of legal representation for the defendants at times. The spokesperson said following a recent application by the DSS, Justice Nwite granted an accelerated hearing, and a trial-within-trial held on 23 and 24 October, during which video recordings of the defendants’ confessional statements were played in open court. In yet another separate case, the DSS on August 11, arraigned five men before the Federal High Court, Abuja, over their alleged involvement in the 5 June 2022 terrorist attack on St. Francis Catholic Church, Owo, Ondo State, where over 40 worshippers were killed and more than 100 injured. The defendants — Idris Abdulmalik Omeiza, Al-Qasim Idris, Jamiu Abdulmalik, Abdulhaleem Idris, and Momoh Otuho Abubakar — are facing a nine-count charge (FHC/ABJ/ CR/301/2025), which includes allegations of belonging to an Al-Shabab-linked cell operating in Kogi State.

UNIOSUN Takes Ownership of Modupe and Folorunso Alakija Medical Research and Training Hospital

university. officially hands over this Kolawole in Osogbo HYPREP Commences Investigation to Unravel Yinka The historic event took state-of-the-art medical research The Governing Council place at the Famfa Towers, and training hospital to Osun State University,” he said. Management of Osun Ikoyi, Lagos. Cause of Water Tank Collapse in Ogoni and Speaking at the ceremony, He noted that the vision State University, led by Blessing Ibunge in Port Harcourt

The Hydrocarbon Pollution Remediation Project (HYPREP) has commenced investigation to unravel the immediate cause of disturbing collapse of the overhead tank at the newly inaugurated Gwara Water Station in Khana Local Government Area of Rivers

State, on Tuesday. Speaking with journalists on Wednesday, in Port Harcourt, the committee set up to investigate the incident, revealed that action has already commenced to get to the remote cause of the incident. Project Coordinator of HYPREP, Prof. Nenibarini Zabbey, had immediately after the incident constituted a high-

level committee to visit the site and commence investigation into the immediate and remote cause of the incident. Prof. Zabbey empathised with the Gwara community and asked for calm, assuring that steps are being taken to ensure the damaged facility is being restored, and water reticulated to affected communities

Pro-Chancellor, Professor Wale Oladipo, and the ViceChancellor, Professor Odunayo Clement Adebooye yesterday paid a courtesy visit to the University’s Chancellor, Apostle (Mrs.) Folorunso Alakija, in Lagos, for the official signing and handover ceremony of the Modupe and Folorunso Alakija Medical Research and Training Hospital to the

the Managing Director of Famfa Oil and the donor, Mr. Dele Alakija, expressed the family’s deep sense of gratitude to God and appreciation to the university authorities for their unwavering commitment to the advancement of medical education and healthcare development in Nigeria. “It is with great joy and gratitude that our family

of his parents, Modupe and Folorunso Alakija, had always been to strengthen Nigeria’s healthcare system through education, innovation, and community service. He commended the university for sharing this vision and assured that the family would continue to support initiatives that improve healthcare training and delivery.

THURSDAY, NOVEMBER 6, 2025 • THISDAY

NEWS

COURTESY VISIT TO YOUTH MINISTER...

L-R: Wife of the CEO of the Chambers, Marina França Leder; Former Minister of Information and Culture, Alhaji Lai Mohammed; Minister of Youth Development, Comrade Ayodele Olawande; President/CEO of the Giessen-Friedberg Chambers of Commerce in Germany, Dr. Matthias Leder, during a courtesy visit to the minister in Abuja…yesterday

PDP BoT Sets Up Reconciliation Committee for All Feuding Parties, Says It Won’t Take Sides

Insists on dialogue Adeleke: Crisis a family affair, urges calm Secretariat invasion dangerous affront to democracy, declares Bode George

Chuks Okocha in Abuja, Yinka Kolawole in Osogbo and Segun James in Lagos

The Board of Trustes (BoT) of Peoples Democratic Party (PDP), yesterday, announced the setting up of a six-man committee to reconcile all warring factions within the party. Chairman of BoT, Senator Adolphus Wabara, announced former Minister of Environment, Alhaji Hassan Adamu, as head of the committee, with former Chief of Staff to President Goodluck Jonathan, Mike Oghiadomhe, as secretary. Wabara insisted on settlement and dialogue as the way forward. The committee had till November 11 to submit its report. Other members of the committee were Chief Ugochukwu Okeke (South-east), Senator Zaynab Kure (North-central), Prince Olagunsoye Oyinlola (South-west), and Dr. Lubna Mohammed Gusau (North-west). Amid ongoing efforts to reunite the party, Governor of

Osun State, Ademola Adeleke, urged members of PDP to remain calm, describing the disagreements in the party as a family affair. Relatedly, former Deputy National Chairman of PDP, Chief Olabode George, said the recent invasion of the party’s national secretariat by uniformed securitymen was a dangerous affront to democracy and the rule of law, which must not be allowed to repeat. But the new acting national chairman of PDP, linked to the Nyesom Wike faction, Alhaji Abdulrahman Mohammed, faulted the ex-parte order of the Oyo State High Court, stating that it cannot give an order where a federal institution, like the independent National Electoral Commission (INEC), is involved. But Wabara, who read from a communique, said, “BoT reaffirms that the PDP remains a united, formidable and focused political party under the leadership of the Amb. Iliya Damagum-led National Working Committee (NWC).

“The BoT solidly stands with and commends the Amb. Iliya Damagum-led National Working Committee (NWC), the PDP Governors Forum, the National Convention Organising Committee, and other critical organs of the party for their collective roles in stabilising our party, especially as we progress towards the conduct of the Elective National Convention scheduled to hold on the 15th and 16th of November 2025 in Ibadan, Oyo State capital. “The BoT welcomes the ruling of the Oyo State High Court, presided over by Justice A L Akintola, which affirmed the constitutional right and liberty of our party to manage its internal affairs, including holding our 2025 Elective National Convention as scheduled. This landmark ruling is victory to democracy, rule of law and political development in our country. “The BoT, however, expresses worry over the recent developments within our ranks that have caused understandable concerns. The tensions, misunderstandings,

CAS Directs Commanders to Intensify Air Operations Against Terrorists, Criminals Linus Aleke in Abuja

The Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, has issued marching orders to all Air Component Commanders to intensify precision air operations and deliver smarter, harder, and more decisive firepower against insurgents, terrorists, and criminal elements threatening Nigeria’s peace and stability. He also charged them to translate strategy into decisive action, sustain

operational tempo, and ensure that every sortie delivered a tangible impact on the ground. Aneke gave the directive during a meeting with Air Component Commanders from all operational theatres at the NAF Headquarters in Abuja yesterday. According to the Director of Public Relations and Information, Headquarters Nigerian Air Force, Air Commodore Ehimen Ejodame, the meeting marked a critical step in recalibrating

NAF’s operational posture under its new leadership. He explained that the engagement provided a platform to harmonise strategies, strengthen interservice cooperation, and ensure that the Nigerian Air Force remained a decisive instrument of national security and a symbol of hope for citizens. Addressing the commanders, Aneke emphasised that the days ahead demanded agility, precision, and intelligence-driven warfare.

and regrettable incidents that have played out in public including the invasion of our national secretariat are not reflective of the ideals and character of the PDP. “As the conscience of the party, the BoT cannot and will not take sides but remain focused on safeguarding the integrity of the PDP and ensuring dialogue over discord. The decision for reconciliation is not as a sign of weakness, but as a demonstration of maturity and responsibility. “The BoT mandated the Reconciliation Committee to report back to it on Tuesday, 11th November, 2025 for further action.” Wabara described PDP as a cat with nine lives that would survive the crisis, which, according to him, would stand out as a defining moment for the party. In his remarks, Damagum reaffirmed that the national convention scheduled for Ibadan next week would hold, as the legal issues against it had been removed. He said, “It gives me great joy to finally inform you that, despite the initial legal hitches, the 2025 Elective National Convention of our great party, the Peoples

ensuring that we rebuild this party for renewed landslide victory. “The ongoing disagreement within the party at the national level is a family affair and I want to assure all members both at the state and national level that it will soon be resolved. “All the stakeholders at the national level have the party’s progress and success at heart and are all looking at ways to resolve the crisis as soon as possible.” The governor directed PDP leaders across local governments and wards in the state to continue to mobilise for the party ahead of Adeleke: Crisis is Family the 2026 governorship election, Affair, Urges Calm adding that PDP remains the Governor Ademola Adeleke party to beat. of Osun State urged members of PDP to remain calm, despite George: Secretariat Invasion the current crisis within the party Affront to Democracy at the national level, describing Former Deputy National it as a family affair. Adeleke, in a statement by his Chairman of PDP, Chief Olabode spokesperson, Mallam Olawale George, described the invasion Rasheed, stated that stakeholders of the party national secretariat in the party were interested in by uniformed securitymen as a resolving the crisis and return dangerous affront to democracy and the rule of law, warning that PDP to its rightful position. He stated, “I urge all members this should not be allowed to of our party, the PDP, to remain repeat. George stated this during calm and be steadfast. We are a press conference at his office, cruising to victory next year and in Ikoyi, Lagos. we must remain committed to Continues online

Democratic Party (PDP), will hold. “Yesterday, the 4th of November 2025, Justice Akintola delivered a landmark ruling affirming that our party has sufficiently satisfied all provisions of the law and, therefore, retains the constitutional right to organise its internal democratic processes, specifically, to hold the 2025 Elective National Convention. ‘’I must confess that what Justice Akintola did, in this era of judicial intimidation and moral compromise, is an act of courage.”

Abia Gets Multi-billion Naira Modern Livestock, Dairy Farm

From Boniface Okoro in Umuahia

Premiere agribusiness conglomerate, Barn Holding Group, is proposing to establish a multibillion, naira large-scale modern livestock and dairy farms in Abia State. Apart from creating an estimated 20,000 jobs, producing 2,000 tonnes of beef annually and serving as South East regional

model for modern livestock production, the multi-billion agribusiness investment, being conceived to operate under a Public-Private Partnership (PPP) arrangement with Abia State Government, is envisaged to greatly improve Abia’s InternallyGenerated Revenue and ensure food security in the state, among others. Chief Executive Officer, Barn Holding Group, Engr. Tony

Jibuno, during a presentation of his firm’s investment proposal to Abia State Governor, Dr. Alex Otti, said the firm plans to revitalise the Livestock Farm at Okoko Item in Bende Local Government Area, develop a feedlot and build a cattle ranch at Umunneochi Local Government Area. He said the ranch which would also serve as a disease-control and livestock traceability hub for cattle entering the state.

THISDAY • THURSDAY, NOVEMBER 6, 2025

NEWS

RENEWED HOPE IN ACTION...

L-R: Executive Chairman, Ejigbo Local Council Development Area (LCDA), Aare Taoheed Adebayo Taiwo; one of the beneficiaries, Lukmon Atinshola; and All Progressives Congress (APC) Lagos State Party Chairman, Hon. Cornelius Ojelabi, at the Renewed Hope and presentation of Idera Oluwa De Mega Empowerment Programme in Ejigbo LCDA, Lagos… recently

N’Assembly Passes Bill on ‘Sex-for-Grades’, Prescribes 14-Year Jail for Lecturers Guilty of Sexual Harassment

Fines institutions that conceal cases N5m, moves to protect students

Sunday Aborisade in Abuja

The National Assembly has passed a historic legislation outlawing sexual harassment in Nigeria’s educational institutions, prescribing up to 14 years’

imprisonment for offenders, and stiff penalties for institutions that conceal such abuses. The bill, titled, “A Bill for an Act to Prevent, Prohibit and Redress Sexual Harassment of Students in Educational

Institutions and for Related Matters, 2025 (HB.1598),” seeks to eradicate all forms of sexual exploitation and abuse of authority by lecturers, administrators, and staff in schools.

The legislation, which had earlier been passed by the House of Representatives, was presented for concurrence in Senate by Leader of the Senate, Senator Opeyemi Bamidele. It received overwhelming

MAN Declares Support for 15% Import Tariff on Petrol, Diesel intended to protect and encourage domestic producers, curb dumping, and create a stable environment for local refiners to thrive. “It noted that the tariff will accelerate operational readiness of domestic refineries, thereby reducing disruptions and stabilising energy supply to industries.” Ajayi-Kadir said MAN “supports the 15 per cent import tariff as an industrial policy instrument that will encourage the utilisation of local refining capacity and promote backward integration across the energy value chain. “Conserve foreign exchange by reducing the nation’s dependence on imported refined petroleum products. “Strengthen the manufacturing base through a more stable and predictable fuel supply.” He added, “MAN views this policy as a vital step in achieving energy independence and industrial sustainability, both of which are prerequisites for Nigeria’s economic transformation.” MAN, however, called for transparent and balanced implementation of the tariff. Ajayi-Kadir said, “While supporting the 15.per cent tariff imposition, MAN calls for transparent, efficient, and well-coordinated implementa-

tion to ensure its benefits reach both industry and consumers, safeguard competitiveness, and prevent unintended cost burdens.” Specifically, MAN called for transparent price monitoring government and relevant regulators to prevent excessive mark-ups or anti-competitive behaviour. It also called for stable transition period during which government should support local refiners to ensure adequate fuel availability and prevent supply shocks or speculative hoarding, particularly with the festive period approaching. Ajayi-Kadir said, “Proceeds from the import duty should be reinvested into energy infrastructure, refinery efficiency, and power support schemes for industries, including credit facilities for industrial energy transition and renewable adoption.” He enjoined government to create an enabling environment and provide targeted incentives to attract investment in additional modular and conventional refineries, thereby strengthening domestic refining capacity, promoting competition, and ensuring long-term energy security. Bagudu, during his meeting, stated that Germany had recorded remarkable successes, while its government continued

to support Nigeria in mobilising the youth to focus on sectors where the country held a comparative advantage. He stated that his ministry was leading efforts to identify and map out the unique opportunities across the 8,809 wards in the country, with a view to harnessing their potential to drive economic growth and promote shared prosperity. The minister stated, “Nigeria is a federation like Germany, maybe with a little bit of difference. We have state governments, we have local governments and at the bottom of our local governments we have wards. We have 8,809 of those wards. “So, now this ministry is leading the efforts to understand the unique opportunities that are in each of those wards and see how we can use them to generate more growth and prosperity. Of course, at the root of it will be know-how innovation, creative disruption and technology, which we believe this partnership can help us with.” Bagudu reaffirmed the federal government’s commitment to curbing illegal migration, emphasising that the Tinubu administration is creating vast opportunities for young Nigerians, thereby making

migration a matter of choice, not necessity. In his remarks, Chief Executive Officer of Giessen-Friedberg Chambers of Commerce of Germany, Dr. Matthias Leder, extended an invitation to the minister to serve as the keynote speaker at its annual B2B Conference, tagged, “The World Meets in Giessen.” The conference offers opportunities to small and medium businesses to attract Foreign Direct Investments (FDIs). Leder said this year’s event attracted 160 participants from 14 countries, where companies were paired with larger counterparts through the use of Artificial Intelligence. He stated that the dual vocational training programme in Germany had commenced with the selection of 18 Nigerians, who will first undergo German language training before being deployed to factories in Germany for a three-year theoretical and practical training programme. Other members of the delegation from the IHK Giessen-Friedberg Chambers of Commerce were Marina França Leder, wife of the CEO; Tim Müller (Deputy Director, Foreign Trade); Norbert Noisser (Senior Advisor Africa/China); and Dr. Kristen Albrecht (Head of Competence Centre Africa).

bipartisan support from senators during plenary. Under the proposed law, any educator found guilty of sexually harassing a student faces between five and 14 years in prison without the option of a fine. Institutions or their heads that fail to act on reported cases may also face penalties of up to N5 million. Bamidele explained that the bill was designed to protect students from all forms of sexual misconduct and abuse within the academic environments while ensuring that offenders were held accountable through clear legal processes. According to him, the legislation is a safeguard for the

integrity of Nigeria’s educational system and the trust that must exist between educators and their students. Clause 4 of the bill defined sexual harassment and spelt out punishments for specific offences. It listed acts, such as demanding sex from a student, having sexual intercourse with a student or prospective student, making sexual advances, whistling, winking, or making sexually flattering comments about a student’s body. Other prohibited acts included sending sexually explicit messages, pictures, or videos to a student, or touching, hugging, and pinching intimate parts of a student’s body.

Abuja Court Outlaws Pat Utomi’s ‘Shadow Government’ Plan, Backs DSS Legal Action Sunday Ehigiator

The Federal High Court in Abuja has declared as unconstitutional the attempt by former presidential hopeful, Professor Pat Utomi, to establish a “shadow government” or “shadow cabinet” in Nigeria, following a legal challenge filed by Department of State Services (DSS). Delivering judgement in the suit marked FHC/ABJ/ CS/937/2025, Justice James Omotosho, held that the establishment of any form of alternative or parallel government outside the provisions of the constitution “is strange, an anathema to our laws, and capable of causing anarchy”. The case, instituted by DSS

through its counsel, Akinlolu Kehinde, SAN, sought judicial interpretation of Utomi’s plan, which had drawn nationwide criticism after he announced the formation of a “shadow cabinet” under the aegis of the Big Tent Association (BTA). The security agency asked the court to determine whether any citizen or group could lawfully create a shadow government not recognised by the constitution and whether such an action amounted to an attempt to usurp governmental powers. In its ruling, the court agreed with DSS that Utomi’s actions, if allowed to continue, could undermine national security and the authority of the democratically elected government.

THURSDAY, NOVEMBER 6, 2025 • THISDAY

NEWS

NEMA LEGISLATIVE RETREAT...

L-R: Director, Finance and Accounts, National Emergency Management Agency (NEMA), Alhaji Aminu Boyi Ringim; Member, Senate Committee on Special Duties, Senator Abdul Ningi; Senator Sadiq Umar; Director, Planning, Research and Forecasting, NEMA, Dr. Onimode Bandele; Senator Mohammed Onawo Ogoshi; Senator Mustapha Khabeeb; and Special Adviser to the Director General, NEMA, Hajiya Rakiya Bello-Umar, during the NEMA Legislative Retreat held in Abuja, yesterday

Again, Court Offers Nnamdi Kanu Another Opportunity to Defend Terrorism Charges Alex Enumah in Abuja Justice James Omotosho of the Federal High Court, Abuja, yesterday, offered leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu, another opportunity to open his defence in the alleged terrorism trial. The judge’s action was perceived to have been borne out of his desire to hear all parties and peruse evidence from all parties

before arriving at a verdict. While the prosecution had since June closed its case after calling five witnesses and tendering bundles of documentary and video evidence, Kanu had repeatedly stated that he would not enter into any defence because “there is no valid charge against me”. Just as in the past four proceedings, he declined to open his defence, insisting that the terrorism law on which he was

standing trial has been repealed. The defendant took hours to address the court on why the charges against him could not stand. He claimed that the Supreme Court in the judgement that returned his case to the trial court, made it abundantly clear that the charge be amended because the one against him had allegedly been repealed. The defendant submitted

further that up till now, the charge had not been amended by the prosecution, thereby violating the order of the apex court. Kanu persistently insisted that the refusal of the federal government to amend the charge was fatal to his trial, adding that no trial could hold under a repealed law. “Terrorism Prevention and Prohibition Act has been repealed. I cannot put in defence under a repealed law. I won’t do that,”

he said. While the judge intervened by urging the defendant to keep his gun powder dry, Kanu remained adamant, stressing that he has not seen any reason to open defence in the instant charge. At a point, however, he agreed to enter his defence, and informed the court of his need to consult with his four legal consultants: Nnaemeka Ejiofor, Aloy Ejimakor, Maxwell Okpara, and Mandela

Umegborogu, who were all present in court. Based on this, the judge repeated his plea to him to consult with legal practitioners conversant with criminal laws to aid his defence. Earlier, counsel to the federal government, Adegboyega Awomolo, SAN, had requested the court to sustain its earlier order that Kanu opens his defence or waive his right to do so.

As Trump Military Threat Looms, FG Insists Claim of Christian Genocide Based on Faulty Data briefing on the US government’s designation of Nigeria as a Country of Particular Concern and the threat by Trump to send the military to intervene in the country. The minister stated that the government was also apprised of the level of anxiety created by the tagging of the country as a country of particular concern by Trump following what he said was a wrong perception and misrepresentation of the security challenges in the country. He said the federal government had always recognised the security challenges that had confronted the country since 2009 with the advent of Boko Haram terrorists. He also referenced the report by the Global Terrorism Index in March which indicated that terrorist attacks were at their lowest in over a decade in Nigeria. “Let me state from the outset that the Government and people of the Federal Republic of Nigeria have taken note of the position of the Government of the United States of America on Nigeria over alleged violations of religious freedom. “Nigeria faces longstanding security challenges that have impacted Christians and Muslims alike, and we mourn every loss of life—knowing that even a single loss of life is one too many,” Idris said. He also reiterated that Tinubu was more than determined to confront and end these security

challenges. The minister said that since May 2023, security agencies had neutralised more than 13,500 terrorists through sustained operations and arrested over 17,000 suspects, who were now undergoing interrogation or prosecution for various offences, while more than 9,800 victims abducted by terrorist elements, including women and children, had been rescued and reintegrated. Idris explained: “It is important to restate that the menace of terrorism in Nigeria does not exclusively target any religious or ethnic group. As in many parts of the world, extremism is mindless, blind to religion, tribe, or class. It is a war against all peace-loving Nigerians and against the unity and progress of our great nation. “Therefore, any narrative suggesting that the Nigerian State is failing to take action against religious attacks is based on misinformation or faulty data. Several leading personnel of the very dedicated Armed Forces of Nigeria and the country’s intelligence agencies are Christians, working and succeeding alongside their Muslim colleagues in the fight against extremists and criminals waging war against our country and values. “Also, Nigeria’s security challenge cannot be fully understood without acknowledging the volatile security situation in the Sahel region—and complicating

factors such as the collapse of Libya over a decade ago, flooding the region with terrorist elements, extremist groups, and illegal weapons. The regional dimension underscores why Nigeria continues to champion greater cooperation within ECOWAS, the African Union, and international partners - including the United States - to stabilise the Sahel and cut off the transnational lifelines of terrorism. “The other issue is the socio-economic dimension of the conflict in the North-Central, especially in Plateau and Benue State, exacerbated by age-long farmers-herders violent clashes made worse by climate change and desertification”. He stated that the recent change of Service Chiefs and the subsequent realignment within the Armed Forces and security agencies was a strategic overhaul that reflected President Tinubu’s determination to reinvigorate Nigeria’s security architecture and infuse fresh energy, innovation, and accountability into the country’s defence and intelligence systems. He asserted that the military and other security agencies were winning the war on terrorism, stressing that the results in the past years particularly in the last two years of President Tinubu’s leadership were remarkable. “We have made stringent efforts in curtailing access to small arms and light weapons by non-

state actors. Security agencies recovered and destroyed over 5,000 military-grade rifles and intercepted over 20 gun-running networks in the past months. “The administration has made multi-million-dollar investments in modernised equipment for our security agencies and has increased the defence and security budget. The President has always given the military his absolute support, and I assure you that there is the political will to remove the last vestiges of this menace from our country. “In the past eight months, the Nigerian military neutralised over 592 terrorists in Borno State alone. Over 13,500 terrorists and armed criminals have been neutralised. More than 17,000 arrests were made. Over 11,200 hostages were freed. “More importantly, over 124,000 insurgents and their families surrendered, handing over more than 11,000 weapons. In the North-West, especially Zamfara and Kaduna, 11,250 hostages have been freed, and some of the terror leaders —Ali Kachala, Boderi, Halilu Sububu -- have been neutralized. In August, the military intercepted and killed, in one fell swoop, over 400 armed bandits who had converged to attack a village in Zamfara”. The minister also explained that terror attacks had been reduced by almost 80 per cent in the South-East, through the joint

effort of the security agencies. In his remarks, the Minister of Solid Minerals, Dele Alake, said the Tinubu administration was not making an emotional reaction to the insecurity issues in the country, which he said started in 2023. He stated that given the plethora of actions taken in the last three years, the problem would have eased and the country would not be where it is if those actions were taken in the last 10 years. He also charged the media to cease perpetuating a wrong narrative about terrorists killing members of the security agencies, like the military with screaming headlines.

Tuggar Maintains No Truth in Religious Persecution Claim by US

The Minister of Foreign Affairs, Tuggar, yesterday said no one should be deceived that state sponsored religious persecution exists in Nigeria, insisting that the country remains a good example of religious plurality and democratic endurance. Tuggar, who briefed the diplomatic community in Abuja over the current situation in the country, said the issue of national security remains top priority of President Bola Tinubu’s administration. Represented by the Permanent Secretary, Ministry of Foreign Affairs, Dunoma

Ahmed, Tuggar who is currently in Germany, said it was inaccurate to characterise Nigeria’s security challenges as manifestations of state-sanctioned religious intolerance. He decried the claims of religious genocide against Christians in the country, stating that it was unfounded. He also assured members of the diplomatic community that the government is doing everything possible to contain the threat of terrorism as currently seen in the country. Tuggar said: “National security remains a top priority for the Tinubu administration, which has adopted a comprehensive approach combining military strength, intelligence, diplomacy, and community engagement. Sustained operations such as Operation Hadin Kai and Operation Lake Sanity have degraded Boko Haram and ISWAP, reclaimed vast territories and facilitated the return of millions of displaced persons. “Advanced surveillance technologies are being deployed to combat banditry and kidnapping, while community-based peace building and the National Early Warning and Response System (NEWS) enhance conflict prevention. Civil-military cooperation has strengthened trust, improved intelligence gathering, and reduced the recruitment of extremists. Continues online

thursday november 6, 2025 • T H i s d ay

NEWS

JUST FRIENDS CLUB ANNUAL LECTURE…

L-R: Resource Person, AVM Gbolahan Adekunle (rtd); former Director-General of Nigerian Television Authority and Chairman of the seventh Just Friends Club of Nigeria (JFCN) Annual Lecture, Professor Tonnie Iredia; President of JFCN, Mr. Fred Ohwahwa; former Chief of Army Staff and Guest Speaker, Lt. General Abdulrahman Dambazau (rtd); Resource Person, Professor Okey Ikechukwu, and Managing Director of News Agency of Nigeria, Mallam Ali M.Ali, at the annual lecture of JFCN in Abuja…recently

Sowore’s Absence Stalls Arraignment on Alleged Defamation against Tinubu Court stops Police from declaring Sowore wanted

Alex Enumah in Abuja and Wale Igbintade

The arraignment of the 2023 presidential candidate of the African Action Congress (AAC), Omoyele Sowore,

over alleged unprintable names against President Bola Tinubu, was yesterday stalled at the Federal High Court, Abuja. It is the second time his arraignment would fail

after September 30, when his lawyer had claimed that he was yet to be properly served with the charge. However, yesterday’s

failure was due to Sowore’s absence in court. The federal government had in September instituted a five-count criminal charge

bordering on cybercrime and defamation against Sowore, X Corporation (formerly known as Tweeter), and Facebook.

The State Security Service (SSS), took the legal action after Sowore and the two other defendants refused to delete the offensive posts.

Amotekun Nabs 38 Suspects for Murder, Kidnapping in Ondo

Lagos Council Initiates Police declare three suspected kidnap kingpins wanted in Kwara David in Akure and various offences, including connection with recent Akure, described the arrests Empowerment Programme Fidelis attacks on as another milestone in the murder, kidnapping, bloody Hammed Shittu in Ilorin Segun James

The Executive Chairman of Ejigbo Local Council Development Area(LCDA), Aare Taoheed Adebayo Taiwo (T.A.T), has officially launched the Mega Empowerment Initiative 2025, a large-scale economic intervention, designed to strengthen small businesses, uplift vulnerable groups, and stimulate grassroots prosperity across all six political wards of the LCDA. Speaking at the mega empowerment ceremony held at the council secretariat,

Taiwo described the initiative as “a defining chapter in our journey toward sustainable development, economic liberation, and inclusive governance.” reassuring that no resident is left behind in the pursuit of economic independence. Under the empowerment programme, 100 beneficiaries received N200,000 in direct business support, while 10 young entrepreneurs aged between 18 and 30 also received N500,000 each through the Ejigbo Youth Startup Fund to launch innovative enterprises.

In a breakthrough against crime, the Ondo State Security Network Agency, otherwise known as Amotekun Corps, has arrested 38 suspects for

vandalism, and illegal immigration across the state. In another development, the Kwara State Police Command has declared three suspected kidnap kingpins wanted in

communities in the state. The Ondo Commander of Amotekun, Adetunji Adeleye, who disclosed the arrest yesterday while parading the suspects at the corps’ headquarters in

agency’s relentless campaign to rid the state of criminals as well as sustain public safety. “Today marks another milestone in our strive to rid Ondo State of criminal elements.”

Glo Unveils New Product to Boost Data, Voice Value for Customers Globacom has unveiled a new product, the “Glo Collabo Bundles”, which gives subscribers the best of voice and data in one convenient package at highly affordable rates. The “Glo Collabo Bundles” are designed to make staying connected easier and more

rewarding, whether for calls or internet use. With plans starting from just N500, customers enjoy a combination of voice minutes and data that delivers massive savings compared to buying both separately. For instance, with the N500 Collabo Bundle, subscribers get 10 all-network minutes for

calls and 450MB of data valid for seven days. The N1,000 plan offers 20 minutes for calls and 1.25GB of data for seven days, while the N1,500 option gives 30 minutes for calls and 1.85GB of data valid for 14 days. For those who need even more, the N2,000 Collabo Bundle comes with

40 minutes for calls and 3GB of data valid for 30 days. Heavier users can enjoy 50 minutes talk time and 4GB of data for N2, 500, 60 minutes talk time and 7.5GB data for N3,000, or the top-tier plan, which gives subscribers100 minutes talk time and 12.5GB for just N5,000.

Awka

He made this known during a visit to the Anglican School of Nursing Sciences, Oji River, Enugu State, where he donated N10 million to support infrastructure and academic development. Mr Obi was received at

Anglican Bishop of Oji River, The Rt. Rev. Dr Ikechukwu Joseph Egbuonu, before proceeding to the institution. He interacted with staff and students and reaffirmed his belief that investment in human capital remains the most sustainable strategy

development. He applauded the Diocese for its consistent investment in healthcare education, noting that faith-based institutions have historically played a transformative role in Nigeria’s educational advancement.

Anioma Cultural Festival Donates N10m to Oji River School of Nursing Day Holds Saturday Obi the Bishop’s Court by the for national growth and across Nigeria. David-Chyddy Eleke in

The Izu Anioma Towns Union, Abuja has announced the first Anioma Cultural Festival (Anioma Day) in the Federal Capital Territory to be held on November 8th at the Old Parade Ground, Area 10, Garki, Abuja. The event, which will now be a Bi-Annual Anioma Cultural Festival in FCT, is a vibrant celebration of the rich history, traditions, and resilience of the Anioma people of the Delta North Senatorial district, Delta state. The event is dedicated to showcasing the Anioma people’s rich cultural heritage, which includes the unique customs and values.

Announcing the event at a media briefing, President of the Izu Anioma Towns Union, Abuja, Chief Luke Enelichi, listed the highlights of the festival to include: display of diverse cultures featuring many cultural groups showcasing traditional dances, artistic prowess, and crafts unique to the Aniocha, Ndokwa, Ika, and Oshimili areas which constitute the Anioma people. “There will also be a prominent display of the revered ‘Akwa Ocha’ (white cloth), the traditional attire of the Anioma people, symbolising purity, honour, and hospitality,” he said.

Former Governor of Anambra State and Labour Party Presidential Candidate, Mr Peter Obi, has reiterated his commitment to strengthening education and healthcare infrastructure

Casa Launches Digital Bank, Unveils Snap to Pay Feature Casa Microfinance Bank, licensed by the Central Bank of Nigeria (CBN), has commenced operations in Nigeria with a promise of banking experience designed to be faster, simpler, and more connected for all Nigerians.

The launch event to herald the bank’s operations which held with pomp and pageantry amidst thrilling preferences in Lagos, was led by comedian and host Ushbebe and Timi Dakolo. Commenting, Chief Operating Officer (COO)

and co-founder of Casa Microfinance Bank, Adenike Akanbi, said: “Banking has evolved to digital payments but payments is still broken in some aspects. We have replaced queues with apps but some of their operations have remained

clunky, difficult to operate. Users have been forced to download different apps to conduct simple banking tasks. What if we could attend to all your banking needs in one place with a simple feature of a tweet or snapping a photo?”

C thursday november 6, 2025 • T H i s d ay

NEWSxtra

INSURANCE DIRECTORS’ CONFERENCE…

L-R: Chairman, Board of Directors, College of Insurance and Financial Management (CIFM), Mr. Akinjide Orimolade; President, Chartered Insurance Institute of Nigeria, Mrs. Yetunde Ilori; Minister of State for Finance, Dr. Doris Uzoka-Anite; Chairperson, Governing Board, National Insurance Commission (NAICOM), Halima Kyari; Commissioner for Insurance/ CEO, NAICOM, Mr. Olusegun Omosehin, and Rector, CIFM, Dr. Chizoba P. Ehiogu, during the 2025 Insurance Directors’ Conference themed Navigating the New Insurance Landscape: Strategies for NIIRA 2025 Compliance and Growth held in Lagos…yesterday

Genocide Allegation: Peace Corps Urges UN’s Intervention against Trump’s Planned Attack Alex Enumah in Abuja

The Peace Corps of Nigeria (PCN) has joined several Nigerians and groups in opposing the alleged plans by the United States President,

Donald Trump to deploy military attacks against terrorists, believed to be responsible for the killings of Christians in Nigeria. The PCN, which warned that the threat, if carried out, would

Katsina Injects N31bn into Zobe Water Supply Scheme

Francis Sardauna inKatsina

The Katsina State Governor, Dikko Umaru Radda, has awarded a contract for the Zobe Water Supply Phase One B project at the cost of N31 billion after years of struggle by successful administrations to complete the water scheme. The 88,741 length water project, awarded to Mutual Commitment Company Limited (MCC), is expected to tackle the perennial water scarcity bedevilling communities across Dutsinma, Charanchi, Rimi, Katsina, and Batagarawa Local Government Areas in the state when completed.

Speaking at the ceremonial groundbreaking of the project in Kafin-Soli yesterday, Radda said it was awarded to the MCC at a cost of over N31 billion to boost water supply in the state. He has directed the state’s Ministry of Water Resources to initiate the process of payment of 40 per cent of the total project sum to the company for its immediate commencement of the work. He explained that the Zobe Water project phase one B would provide a potable water supply to Dutsinma, Katsina, Rimi, Batagarawa, Charanchi, Kafin-Soli, Tafashiya, and Radda.

Suspected Gunmen Kill 2, Injure Others in Kogi Community Ibrahim Oyewale inLokoja

Barely 48 hours after the military troops had rescued two kidnapping victims in Kogi State, suspected gunmen invaded Ibado-Akpacha community in the state, killing two villagers, injuring another in Omala Local Government Area of the state yesterday. Sources told THISDAY that the third victim of the attack narrowly escaped with bullet wounds to a nearby bush for safety. It was gathered that the attack was carried out between Tuesday night and

the early hours of yesterday. It was learnt that the victims of the attack, whose names could not be ascertained, were said to be local miners who relocated to the village two years ago for coal mining activities in the community. One of the community leaders, who pleaded anonymity, said: “The criminals also performed some robbery operations, breaking into people’s houses and collecting money, and also breaking into shops at a junction in the village, carting away consumables and assorted goods.

be counterproductive because vulnerable Nigerians would be exposed to avoidable dangers and hardships, however called for the

intervention of the United Nations. Speaking with journalists yesterday in Abuja, National Commandant of the Corps, Dr Dickson

Ameh Akoh, disclosed that the Corps was greatly concerned by the remarks of Trump, wherein he designated Nigeria as a ‘Country

of Particular Concern’ and threatened the use of military might over the perceived genocide against Christians in Nigeria.

Kuni Tyessi in Abuja

national and local actors towards providing necessary platforms for collective security and support. Professor of Peace Studies at the University of Ibadan, Olawale Albert said legal and regional reforms are needed to qualify roles, build capacities, and foster joint cooperation as well as

enhance the effectiveness of peace and security interventions across West Africa. Speaking yesterday at the two-day West Africa Peace and Security Dialogue (WAPSeD) in Abuja under the theme, “Reimagining peace and security in West Africa: Local solutions,

regional solidarity and global partnership” which was organised by Building Blocks for Peace Foundation, Albert said non-traditional threats such as pandemics, climate-driven migration, and transnational security risks further strain national capacities and require unconscious level responses.

Insecurity: Experts Harp on Strengthening ECOWAS for Stability, Devt As West Africa faces significant challenges in building sustainable peace and development, security experts have called for the strengthening of regional frameworks such as ECOWAS, and improving collaboration between

FG: Strong, Innovative Insurance Sector Needed for Economic Transformation Ebere Nwoji

The federal government has said that it could not achieve its ongoing economic transformation strategy without the backing of a strong, credible, and innovative insurance sector.

FG described insurance as a stabilizer and sector that cushions the shocks that came with enterprise. The Minister of State for Finance, Dr. Doris Uzoka-Anite, stated this yesterday in Lagos while addressing directors of insurance firms at their

Annual Directors’ Forum.. Uzoka-Anite, stated that the ongoing implementation of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 was a landmark initiative that aligned the insurance sector with the Federal

Government’s broader economic transformation strategy. She expressed satisfaction with the speed of transformation going on in insurance sector and the economy, adding that it would rebuild public confidence in the sector.

Human Rights Group IG to Wade into Ejigbo PTD Matter

Sunday Okobi

The Human Rights Monitoring Agenda (HURMA) yesterday condemned what it described as alleged continued harassment, illegal summons, arrests, and detention of Alhaji Ganiyu Oyebola and

other law-abiding members of Petroleum Tanker Drivers (PTD), Ejigbo Unit in Lagos, by officers of the Nigeria Police Force. HURMA, at a press conference held in Lagos, therefore, called on the Inspector General of Police (IG) to investigate

the matter and save the PTD, Ejigbo Unit, from their current plight, which he said was allegedly caused by the influence of some NUPENG officials, “despite the existence of a pending suit before the National Industrial Court of Nigeria.” The Executive

Director, Human Rights Monitoring Agenda, Buna Olaitan Isiak, while addressing journalists, however, commended the Inspector General of Police (IG) for his notable commitment to professionalism, human rights, and the rule of law.

BNI Tasks Members on Business Strategies at Regional Conference Ayodeji Ake

Business Network International (BNI), during their recent Lagos Mainland Regional conference 2025, prepped members on business strategies and preparedness tactics for waves. The Guest Speaker, Dr.

Niyi Adesanya, a foremost performance strategist and leadership coach, during the conference with the theme: ‘Elevate and Expand’, taught the members the Business Ambidextrous Strategy -the ability to strike a balance between exploitation and exploration.

“It is important that as entrepreneurs, they learn the three Rs- Resources, Readiness, and Reputation. The reputation carries more weight, and they must learn to protect their business’s reputation. Business is not about money alone. It’s about customers’ satisfaction,

retention, and acquisition,” Adesanya said. Speaking about the conference, the Executive Director, BNI Lagos Mainland Region, Mr. Nkem Mpamah, said the conference was designed to empower members of the BNI community against economic uncertainty.

THISDAY • THURSDAY, NOVEMBER 6, 2025

THURSdaysports

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

0811 181 3083 SMS ONLY

Unstoppable Osimhen Destroys Ajax with Hat Trick The Nigerian star now the leading scorer ahead of Haaland, Kane, Mbappe

Duro Ikhazuagbe Victor Osimhen ascended the summit of top goals scorers in the UEFA Champions League last night after he fired all three goals as his Galatasaray handed out a 3-0 defeat to Ajax inside their Johan Cruyff Arena in Amsterdam. Osimhen’s three goals make him the leading goals scorer this season in the competition with six goals from three Champions League matches. Galatasaray on

RESULTS

C H A M P I O N S L E AG U E the other hand are now ninth on the league phase table with nine points from four matches, just outside the top-8 on goals difference! After a barren first half, Osimhen in the 59th minute put Galatasaray ahead when he cleverly got in between Josip Sutalo and Remko Pasveer to head in a cross from Leroy Sane for the lead. Things went from bad to worse for Ajax, who conceded

a penalty when Youri Baas handled another Galatasaray cross. Osimhen stepped up and confidently buried the spot kick in the left corner in the 66th minute. The gangling Nigerian international returned to complete his hat trick when he again fired from the penalty spot after Champions League debutant, Gerald Alders, gave away a second penalty of the evening.

The Nigerian hitman went the other way, leaving Pasveer and Ajax hopeless after 78 minutes. Osimhen is a goal ahead of an elite trio of Earling Haaland, Harry Kane and Kylian Mbappe. The 26-year-old striker has now netted 12 goals in his last eight games in Europe. Galatasaray came eerily close to adding a fourth in the dying seconds when Mauro Icardi, who’d replaced Osimhen, hit the post with a cross-body shot. The victory was a perfect revenge for Galatasaray who were beaten by Ajax last year

Pafos 1-0 Villarreal Qarabag 2-2 Chelsea Ajax 0-3 Galatasaray Benfica 0-1 Leverkusen Brugge 3-3 Barcelona Inter 2-1 Kairat Almaty Man City 4-1 Dortmund Marseille 0-1 Atalanta Newcastle 2-0 Bilbao

Today (Europa League) Basel v FCSB Crvena. v Lille D’Zagreb v C’Vigo Malmo v Pana’cos Midtjylland v Celtic Nice v Freiburg Salzburg v GA Eagles Sturm Graz v Nottingham Utrecht v Porto Aston Villa v Maccabi Betis v Lyon Bologna v Genk Ferencvaros v Ludogorets PAOK v Y’Boys Plzen v Fenerbahce Rangers v Roma Stuttgart v Feyenoord

Hat trick hero, Victor Osimhen (left), and his teammates celebrating their 3-0 defeat of Ajax at the Johan Cruyff Arena in Amsterdam...last night

All 16 Teams for WAFCON Listed by CAF Cameroon, Egypt, Ivory Coast and Mali have completed the line-up for the 2026 Women’s Africa Cup of Nations (WAFCON) after world rankings were used to determine the final four qualifiers. The Confederation of African Football (CAF) took the decision to expand the finals from 12 to 16 teamsmidway through preliminaries for next year’s tournament in Morocco. Reigning champions Nigeria were among 11 sides to book their tickets in the second and final qualifying round last month,and those eliminated at that stage had hoped to have another chance to reach North Africa via potential play-offs. However, CAF has instead used FIFA’s world rankings to

fill the remaining places - with the four best-ranked sides who lost in the second qualifying round advancing. As a result, Cameroon (66th in the world), Ivory Coast (71st), Mali (79th) and Egypt (95th) will feature at WAFCON 2026.

Mali were beaten quarterfinalists at the delayed 2024 edition, while three-time runners-up Cameroon have not featured since 2022. Ivory Coast and Egypt will return for the first time since 2014 and 2016 respectively.

CAF has also not confirmed the dates of the tournament, but world governing body FIFA has previously earmarked it to take place between 17 March and 3 April. A date for the draw is also yet to be announced by CAF.

GCU Relays Ambassador Upbeat on 7th Edition Olympian and Hall of Fame inductee, Ancient Mariner Ruks Bazunu, has become the early bird for the seventh edition of the annual Government College Ughelli, GCU Relays, as he flew into the country from his United States of America base last week. The seventh edition of the annual GCU Relays is scheduled for November 22nd, with a deluge of entries from schools

across the country. Indeed, as a matter of routine and annual ritual, the national speedster of the late sixties and early seventies has always made it home to Warri, alongside his spouse, for the GCU Relays. ‘’My expectation and vision for the GCU Relays is rooftop with my sights on the Pennsylvania Invitational Relay Classics in the USA’’ he began,

adding ‘’the reality, though, is that the economic situation of the Country has not allowed for the Athletics Meet to keep pace with my huge expectations,” Bazunu remarked on arrival. Bazunu opines that years after the GCU Relays hog national limelight, the School’s Athletics Ground should be hosting a Pavilion raised from scaffolds and protective covers.

in the UEFA Europa League at the same venue. For Ajax Coach, John Heitinga, these are not good moments at all. His team is languishing at the bottom of the 36-team league with zero point from four matches in this year’s UEFA Champions League, losing to Inter (2-0), Olympique Marseille (4-0), and Chelsea (5-1) in the opening three games. Ajax will next host fellow bottom feeders Benfica next, while

Galatasaray will host Union Saint-Gilloise on November 25th Elsewhere, another Super Eagles forward, Ademola Lookman scored a goal that was disallowed for offside as Atalanta defeated Marseille 1-0 in the French City. Another Nigerian international, Raphael Onyedika had a decent showing as his Belgium side, Club Brugge held visiting Barcelona 3-3 in another Champions League game played last night.

Stephen Keshi Stadium to Host Zenith Bank/Delta Principals’ Cup Final The final of the 2025 Delta State Principals’ Cup football Competition will take place today at the Stephen Keshi Stadium, Asaba. The youth developmental football competition which is in its 8th edition, is sponsored by Zenith Bank Plc in collaboration with the government of Delta State. Over 1.000 schools from all the 25 Local Governent Areas of the state took part in the tournament which started on September 18 at the St. Patrick’s Secondary School, Asaba. The stage is now set for Urhobo College, Effurun, to clash with Ogbeijoh Government School in the final which promises to be highly explosive. Urhobo College, Efurun, earned a ticket to the final after winning a protest against Otokutu Grammar School while Ogbeijor, Warri South West LG Champions, qualified after beat-

ing Justice, Peace and Success Academy 5-4 on penalties after fulltime score stood at 2-2 in the encounter decided in Ozoro. And so, Justice Peace and Success Academy will face Ughelli South LG Champions, Otokutu Grammar School, in the Third Place match also this Thursday afternoon, which will serve as curtain raiser for the final match. Delta State Governor, Sherif Oborevwori, has assured stakeholders that he will be at the Stephen Keshi Stadium to grace the final match. Delta FA Chairman, Chief Ken Nwanmocha, and top officials of sponsors, Zenith Bank Plc are also expected in attendance. The CEO of Hideaplus Limited, the organisers of the tournament, Tony Pemu, confirmed that told all arrangements have been concluded to make the final hitch-free.

Opara, Udeze to Mentor Spires 5-Aside Tourney Q’finalists

Ex-internationals Godwin Opara and Ifeanyi Udeze will mentor the quaterfinalists of the ongoing Spires 5-Aside Naija Street Soccer Tournament. The former Super Eagles players will be at the Stables Sports Centre in Surulere on the 8th and 9th of November for a mentorship session with the players before their respective matches. Godwin Okpara, who played as a defender, was part of the Super Eagles squad to the 1998 FIFA World Cup, 2000 Africa Cup of Nations, as well as the 2000 Summer Olympics in Sydney Australia.

Ifeanyi Udeze, who played as a left-back, made 35 appearances for the national team from 2000-2005. Udeze featured for Nigeria at the 2002 African Cup of Nations as well as the edition in 2004. He was also part of the Super Eagles squad to the 2002 FIFA World Cup in Korea & Japan. The former Eagles stars will engage the players on football lessons and the lifestyle and character expected of an upand-coming footballer. The last eight (8) teams in this year’s championship will square up this weekend for a place in the semi-finals.

T H I S D AY • THURSDAY, NOVEMBER 6, 2025

Price: N400

back page lead photograph

7th African International Conference on Islamic Finance...

L-R: Chairman, NGX Group, Alhaji Umaru Kwairanga; Chairman Securities and Exchange Commission Nigeria, Mr. Mairiga Katuka; Conference Chair, Ms. Ummahani Ahmad; Emir of Kano, Muhammed Sanusi II; Chief Executive Officer African Finance Corporation, Samaila Zubairu; and representative of vice president, Mr Tope Fashuwa; during the 7th African International Conference on Islamic Finance in Lagos .... recently

olusegunadeniyi Coup Rumours and Trump Threat the verdict olusegun.adeniyi@thisdaylive.com

have been out of the country since last week Monday. And for the past ten days, almost every Nigerian I have encountered has sought my view about the alleged coup attempt that led to the arrest and detention of a number of military officers. Of course, we know that in recent days, President Donald Trump has also entered the Nigerian conversation with his ‘guns-a-blazing’ threat if the federal government “continues to allow the killing of Christians.” As a member of the retired Major General Nicholas Rogers-led factfinding committee on the incessant attacks on communities in Plateau State (2001 to 2025) which recently submitted its report to Governor Caleb Mutfwang, I know how such framing of a serious national security challenge causes more US President Donald Trump harm than good. I will come back to this later but let us begin with the (mis)management of to provide details about the nature of ongoing information regarding the alleged coup attempt arrests and investigation of dozens of military that continues to drag on. officers, the presidency has created a vacuum The initial announcement from Defence Headquarters was clinical: 16 officers were under investigation for “indiscipline and breach of service regulations.” Then, reports of a foiled coup attempt surfaced on social media. Although the military initially denied omorrow in Lagos, my beloved aburo, the reports, mum was the word when the Dr. Reuben Olubodun Adeleye Abati residence of a top politician was raided by will turn 60 and a book presentation soldiers. Likewise, when more arrests were will mark the occasion before ‘Owambe’ reportedly made, and additional information follows on Saturday. That Abati has become a began to leak about the movement of illicit success story in his chosen field is no surprise money (in billions of Naira) between officers and their alleged civilian collaborators. While given his uncommon intellect right from Nigerians were still trying to process what childhood. Throughout his primary school to make of these reports, the Special Adviser days, according to those who went to school on Media and Public Communication to the with him, Abati consistently took first position. President, Sunday Dare, said the presidency And in secondary school, he was the star at would “stick to the narrative of the military” every prize giving day event. At age 20 in 1985, Abati graduated from the University of regardless of emerging facts. On this matter, both the presidency and the Calabar with a First Class degree in Theatre military are treating Nigerians like children Arts. He also emerged the winner of the who cannot handle difficult truths. And their Vice-Chancellor’s Prize for the student with paternalistic approach will backfire spectacularly. the best overall academic performance in the The last time Nigeria cancelled an Independence class and winner of the Ene Henshaw prize Day parade was in 2010, following the Abuja for the best graduating student in Theatre Arts. In 1987, Abati bagged his Masters in Theatre bombings. This year, we are told it was cancelled “to allow Mr President to attend a strategic Arts from the University of Ibadan and in bilateral meeting outside the country”! Nobody 1990, at age 25, he completed his Ph.D. in the is buying that tale. In a democracy, the legitimacy same discipline. His working career began of government rests not on its ability to back at the University of Benin as a Graduate convenient narratives, but on its commitment Assistant during his National Youth Service to transparency and accountability. By refusing Corps j(NYSC) primary assignment before

in which speculation and conspiracy theories are eagerly filling. And each day that passes without clarity, these narratives gain traction. The presidency’s position to remain mute because “the military is constitutionally empowered to secure the country” is fundamentally flawed. Yes, the military has constitutional responsibilities, but it remains subordinate to civilian authority. And ultimately it is accountable to the Nigerian people. On a matter so weighty, the military cannot be the sole arbiter of what information Nigerians deserve to know. In any case, it is not for nothing that the president is invested with power and authority as the Commander-in-Chief of the same military. By stonewalling, the presidency is inadvertently feeding the narrative from the opposition that this is a political witch-hunt designed to purge perceived opponents of the administration. Nothing can be more dangerous than such imputation that the military is being unwittingly

dragged into partisan politics. This is therefore the time to come clean. If there was indeed a coup plot, someone must say so clearly. And they should tell Nigerians the people involved and what they planned. If, as some reports also suggest, these officers were merely grumbling about promotion stagnation and welfare issues, then the military must address these legitimate grievances and apologize to the public for the panic caused by its ham-fisted communication. The pertinent question is: If it turns out that the officers were indeed arrested for plotting a coup, how would the military announce that to Nigerians without losing credibility? The reputation of the military, earned through the sacrifice of countless officers who have died in defence of our country, should not be squandered by those who lack the courage to level with Nigerians on a serious national security challenge. NOTE: Piece concluded online

60 Gbosas to Reuben Abati

Reuben Abati moving to the University of Ibadan in 1986 as a Teaching Assistant. He left Ibadan in 1990 to join the Department of English, Ogun State University, now Olabisi Onabanjo University. Abati, who also holds a degree in law, actually began his journalism in 1989 as a contributing editor to HINTS and CHANELLE (romance magazines), where he wrote three weekly columns. During this period, he also freelanced for other mainstream publications.

In 1992, he joined the editorial board of The Guardian, while still a university lecturer. At the Newspaper, Abati wrote insightful columns (most times detailing his varied experiences inside ‘Molue’) and eventually succeeded the inimitable Prof Olatunji Dare as chair of the editorial board. Relatively uninhibited and often provocative, Abati’s columns were also entertaining as he assumed the role of ‘expert’ on virtually all issues, including sometimes on how men and women should conduct their affairs in The Other Room. His vocabulary was pitched well at an upper-class readership but through his choice of issues, which sometimes verged on the melodramatic, he also appealed to the ordinary people. Meanwhile, Abati never left theatre performance as an actor, stage manager and director both on radio and television. That perhaps explains the ease with which he has transitioned from print to the electronic media where he now anchors the popular ‘Morning Show’ on ARISE television. As he turns 60 tomorrow, I can only wish happy birthday, long life and good health to the one and only ‘Monumental Reuben’.

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