WEDNESDAY 15TH OCTOBER 2025

Jim Ovia Named Doyen of Nigerian Banking Industry At The NGX Closing Gong Ceremony

Nume Ekeghe

Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, CFR, accompanied by the bank’s

Group Managing Director/ CEO, Dame Dr. Adaora Umeoji, OON, on Tuesday, October 14, 2025, carried out the prestigious closing gong ceremony at the

Nigerian Exchange (NGX), marking a significant milestone in the bank’s continued partnership with the capital market and the official closing of the

trading day. The ceremony highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering

investor confidence.

gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives. “We

While speaking at the Nigerian Exchange, Dr. Umeoji expressed her delight in participating in the closing Continued on page 8

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SHETTIMA RECEIVES MBAH INTO APC...

L-R: Governor of Ogun State, Dapo Abiodun; Governor of Ebonyi State, Hon. Francis Nwifuru; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Imo State, Senator Hope Uzodimma; Governor of Kwara State, Abdulrahman Abdulrasaq; Vice President, Senator Kashim Shettima; Governor of Enugu State, Dr. Peter Mbah; President of the Senate, Senator Godswill Akpabio; Deputy Speaker, House of Representatives, Hon. Benjamin Kalu; and the Senate Leader, Senator Opeyemi Bamidele, during a rally to mark Governor Mbah and the state’s declaration for the All Progressives Congress (APC) in Enugu, yesterday

Mbah, Cabinet,Deputy, Entire Enugu State Political Structure Dump PDP, Joins APC

Continued on page 8 Deji Elumoye in Abuja and Gideon Arinze in Enugu

In a move that has finally decimated Peoples Democratic Party (PDP) in the South-east, Enugu

FG Hails Shell’s Fresh $2bn Gas Investment, Upstream FIDs Exceed

ZENITH BANK LEADERS RING CLOSING GONG AT NIGERIAN EXCHANGE...

L-R: GMD/CEO, Nigerian Exchange Group, Mr. Temi Popoola; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Chairman and Founder, Zenith Bank Plc, Mr. Jim Ovia, CFR; Group Chairman, Nigerian Exchange Group, Alhaji (Dr.) Umaru Kwairanga; Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama; CEO, Nigerian Exchange (NGX), Mr. Jude Chiemeka; and CEO, Central Securities Clearing System Plc, Mr. Haruna Jalo-Waziri, at the Closing Gong Ceremony of the Nigerian Exchange Limited, yesterday

cOurtEsy visit by thE sMEDAN

DG...

Governor of Lagos State, Mr. Babajide Sanwo-Olu (fourth right); Director General/CEO, Small & Medium Enterprises Development

Charles

SMEDAN Director of Planning,

of

MAN, UNIDO Lament Low Manufacturing Contribution to GDP

Describe FG’s Nigeria’s First policy as rallying call for economic revival

Dike Onwuamaeze

The Manufacturers Association of Nigeria (MAN) and the United Nations Industrial Development Organisation (UNIDO) have bemoaned the declining contribution of the manufacturing sector to Nigeria’s Gross Domestic Product (GDP) over the past decade and what they described as the country’s shift from production to consumption.

They made these observa- tions yesterday in Lagos, at the opening ceremony of a 3-Day Made-in-Nigeria Exhibition (MiNE) with the theme “Nigeria First: Prioritising Patronage of Made-in-Nigeria,” which was part of the activities marking the 53rd Annual General Meeting (AGM) of MAN.

The President of MAN, Mr. Francis Meshioye, in his welcome address, decried the continued shrinking of the Nigerian manufacturing sector and the troubling shift of the Nigerian economy from production to consumption.

Meshioye, however, de- scribed the Nigeria First policy, which advocates for prioritised patronage of Made-in-Nigeria products, as a rallying call that speaks directly to Nigeria’s economic survival and long- term transformation.

He said: “Recent develop- ments in the economy remind us of the urgency of this call.

“In particular, the figures from the rebased Nigerian Gross Domestic Product (GDP), published by the National Bureau of Statistics, are striking.

“It shows that industry’s share of GDP declined from

27.65 per cent in the 2010 base year to 21.08 per cent under the 2019 rebased structure.

“Moreover, the manufacturing sector’s average 5-year performance is negative (–0.76 per cent), particularly between 2019 and 2024, whilst sectors such as services and agriculture expanded!

“This underscores a deeper concern. Nigeria’s industrial base continues to shrink. In essence, the rebased GDP figures signal a troubling shift from production to consumption; and from production to services and informal value creation.

“This is definitely not sustainable.”

Meshioye argued that if Nigeria “will build a resilient, inclusive and forward-looking economy that investors will have confidence in, we must re-industrialise, and that process must begin with deliberate sup- port for local manufacturers.”

He explained that “The ‘Nigeria First’ agenda is not about closing our doors to the world; it is about opening the right doors to Nigerian-made solutions, Nigerian jobs, and Nigerian ingenuity.”

He also called for a legislation

that would codify the prioritisa- tion of Made-in-Nigeria in legal framework with institutionilised mechanism that would ensure full enforcementimplementation, and monitoring of the execution of Nigeria First policy with provisions for consequences for non- compliance.

“We should eliminate the prevalence of selective compli- ance. Now is the time to create the policy framework for transi- tioning the Nigeria First policy from executive pronouncements to legislative imperative and ultimately to unfettered and

bold“Weimplementation. cannot continue to allow policy inertia to undermine our development potential,” Meshioye said. He added that beyond policy enforcement, Nigeria, “must also establish a functional, independent compliance agency or institution tasked with auditing patronage levels, recommending corrective action, and publicly disclosing performance across Ministries, Departments and Agencies of government.

continues online

Fagbemi Seeks Stronger Laws, Institutions in Fight against Cybercrime

The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, has called for the passage of effective laws as well as the empowerment of relevant institutions to combat the rising menace of cybercrime in the country.

The AGF, who stressed yesterday that “Laws must keep pace with innovation,” urged the National Assembly to ensure that the forthcoming twin bills on cybercrime are backed by strong institutions, independent oversight, and prosecutorial capacity that matches the sophistication of

House Summons Cardoso Over Excessive Bank Charges, Launches Probe into Customer Exploitation

The House of Representatives has summoned the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to explain claims of arbitrary and excessive fees being charged by commercial banks to their customers across Nigeria.

This decision was made following a motion presented by Hon. Muktar Shagaya, who represents the Ilorin West/Asa Federal Constituency, during the House’s plenary session.

In his address, Shagaya raised

the alarm over the growing number of complaints from Nigerians regarding continuous and unclear deductions from their bank accounts, even though there are existing CBN regula- tions meant to control such bank charges.

He pointed out that citizens were being burdened with multiple charges, including those for SMS alerts, card and account maintenance, interbank transfers, stamp duties, and other fees which are either charged more than once or lack clear justification.

Shagaya stated that, “although banks are supposed to offer financial services at reasonable costs, many customers consistently face repeated and unjustified deductions in clear violation of CBN’s rules intended to prevent such practices.”

He further cautioned that ongoing exploitation of customers by banks could lead to a breakdown in public confidence in the banking system, hinder financial inclusion, and jeopardise the CBN’s broader objective of increasing access to financial services.

the threat.

The minister, who observed that cybercrime was now a trillion-dollar threat to the global economy, disclosed that INTERPOL’s 2023 Africa Cybercrime Assessment had ranked Nigeria among the top ten countries targeted by business email compromise, online fraud, and sextortion.

Fagbami, spoke at the Annual Cybercrimes Awareness Campaign and the 2nd National Consultations on the

Cybercrimes Legal Framework in Nigeria, held in Abuja.

According to the minister, Nigeria records an average of 4,388 cyberattacks weekly, a 47 percent increase from previous years, ranking the country fifth globally in cybercrime impact, with an estimated annual cost of $500 million.

“The digital domain has become the new battlefield of economic survival, public trust, and national security”, he said, “Nigeria must not stand as a

passive observer in this war without borders. We must be strategic, coordinated, and relentless.”

As part of the strategy at curtailing cybercrime, Fagbemi, revealed that the federal government was currently reviewing the Cybercrimes (Prohibition, Prevention, etc.) Act 2015, with plans to introduce Twin Bills—one focusing on criminal justice provisions, and the other on cyber security governance and critical infrastructure protection.

HYPREP Restates Commitment to Ogoni Clean-Up

blessing ibunge in Port

Harcourt

The Hydrocarbon Pollution Remediation Project (HYPREP), the agency entrusted with the responsibility of implementing the recommendations of the United Nations Environment Programme (UNEP) report of 2011, has restated its commitment to ensure a perfect clean-up of the devastating pollution caused by the oil

exploration activities of Shell Petroleum and Development Company (SPDC) in Ogoni land.

The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, gave the assurance at the 2025 third-quarterly key regulators/asset owners meeting held in Port Harcourt, yesterday.

He said the meeting was a platform to strengthen partnerships geared towards

the actualisation of the full implementation of the UNEP report with a focus on restoring the livelihoods of Ogoni people.

“This gathering is another opportunity for us to reaf- firm our commitment to the environmental restoration of Ogoniland and to strengthen the vital partnership among HYPREP, regulators, and as- set owners to ensure the full implementation of the UNEP Report’s recommendations.

Alex Enumah in Abuja

Agency

Nigeria (SMEDAN), Mr.

Odii (fourth left);

Policy & Research, Dr. Gbenga Ogundeji (third left); Founder, Naija Brand Chick, Nelly Agbogu (second right) and others during a courtesy visit by the SMEDAN DG at the Lagos House, Marina, on Monday

Juliet Akoje in Abuja

STRATEGIC STAKEHOLDERS MEETING...

L-R: Senior Trade Expert/Lead, Nigeria Coordination Office, African Continental Free Trade Area (AfCFTA), Olusegun Olutayo; Director General, National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Moji Adeyeye; and Representative of the Permanent Secretary, Federal Ministry of Finance, Dalhat Jarman Binji, during the strategic stakeholder engagement, “The Role of NAFDAC in AfCFTA Implementation”, organised by AfCFTA in Abuja… recently

FG, Gencos Agree on Framework for Reduction of N4tn Power Sector Debt

Intervention largest in over a decade, says Verheijen

The federal government yesterday took a major step towards restoring financial stability and investor confidence in the electricity market with the finalisation of the imple- mentation framework for the presidential power sector debt

reduction plan.

A statement from the Office of the Special Adviser to the President on Energy, Olu Verheijen, described it as a landmark initiative approved by President Bola Ahmed Tinubu to address structural bottlenecks and lay the groundwork for large-scale private sector-led

investment and sustained economic growth.

It recalled that on Tuesday, 7 October 2025, in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the Minister of Power, Chief Bayo Adelabu, and the Special Adviser to the President on

Energy, Verheijen, met with senior executives of Nigeria’s Gencos to review settlement modalities for the outstanding debt.

The meeting, according to the statement, concluded with a consensus on the way forward, which includes conducting bilateral negotia-

NAEE: Nigeria, Others Risk Vulnerabilities from Declining Fossil Revenues

The Nigerian Association for Energy Economics (NAEE) yesterday said that Nigeria and other resource-dependent nations risk fiscal vulnerabilities from declining fossil revenues amid the ongoing global shifts in the energy sector. Speaking on the final day of its annual international conference, the President of NAEE, Dr Hassan Mahmud, who highlighted the implica- tions for developing countries, explained that there is the need for domestic policy coherence and institutional readiness.

He listed the risks as: Fiscal vulnerabilities from declining fossil revenues; energy poverty and affordability challenges; rising cost of green finance and technology dependence as well as the need for domestic policy coherence and institutional readiness.

Besides, Mahmud advocated the harnessing of Africa’s natural endowments , including gas, solar, wind, lithium as well as localising value chains, including refining, battery assembly and power equipment.

Besides, he called for the leveraging of sovereign funds

and development banks, for instance, the African Energy Bank and harnessing regional power pools and cross-border investments.

Strategic opportunities, he said, include: Building resilient energy financing architectures (domestic capital markets, green bonds, carbon credits) ; posi- tioning developing countries as partners, not passive suppliers; designing transition policies that align growth, inclusion, and sustainability; and investing in energy data systems, R&D, and regional innovation hubs.

Mahmud underscored what he described as ‘the colonisa-

NHRC, NGO Call for Abolition of Death Penalty for Females

Michael Olugbode in Abuja

Hope Behind Bars Africa, in col- laboration with National Human Rights Commission (NHRC), called for the abolition of death penalty for females in Nigeria. The call was made during a validation meeting on research findings organised by Hope Behind Bars Africa, in collaboration with NHRC.

Executive Director of Hope Behind Bars Africa, Funke Adeoye, called for urgent reforms in Nigeria’s criminal justice system and stronger protection for women facing the death penalty, describing capital punishment as “the most irreversible form of human rights violation”.

Adeoye made the call in Abuja during an event commemorating the World Day Against the Death

Penalty, organised in partnership with NHRC, Legal Aid Council, and Nigerian Correctional Service, with support from the Australian High Commission, Embassy of Belgium, and French Embassy. She commended NHRC for its consistent collaboration over the years, stating that the commission has remained a steadfast ally in advancing the rights of vulnerable individuals across the country.

tion of finance’, stressing that environmental governance constraints, carbon trading, carbon tax, are current issues in the global energy space. Also speaking, erstwhile President of the NAEE, Prof. Yinka Omorogbe, stated that Africa remains a place where about 600 million people are still without reliable energy sources, describing Nigeria’s oil downstream as a basket case.

tions to finalise full and final settlement agreements that balance fiscal realities with the financial constraints of the Gencos.

Approved by Tinubu and endorsed by the Federal Executive Council (FEC) in August 2025, the plan, the statement said, authorises the issuance of up to N4 trillion in government-backed bonds to settle verified arrears owed to generation companies and gas suppliers.

This intervention, the largest in over a decade, according to the statement, addresses a legacy debt overhang that has constrained investment, weakened utility balance sheets, and hindered reliable power delivery across the country.

“For the first time in years, we are seeing a credible and systematic effort by the government to tackle the root liquidity challenges in the power sector,” the Chairman of Heirs Holdings and Transcorp Power, said Mr. Tony Elumelu

was quoted as saying.

“We commend President Tinubu and his economic team for this bold and transformative step,” he added.

Group Managing Director of Saharagroup, Mr. Kola Adesina, echoed the same sentiment, the statement pointed out. “This initiative is significant in every respect. It gives us renewed confidence in the reform process and a clear signal that the government is serious about building a sustainable power sector,” he said.

Beyond clearing arrears, the debt reduction plan, Verheijen said, signals a strategic reset of Nigeria’s electricity market. By restoring the financial health of power companies, it will enable new investment in generation capacity, modernise grid infrastructure, and deliver more reliable electricity to homes and businesses, creating a stronger foundation for industrialization, job creation, and inclusive economic growth.

FG: Cashew Very Important Cash Crop to Nigeria’s Non-oil Export Economy

The federal government declared that cashew was a very important cash crop to Nigeria’s non-oil export economy.

Special Assistant to the President on Agriculture, Mr. Abiodun Yinusa, made the declaration in a press release to give support to the newly constituted Interim National Committee of National Cashew Association of Nigeria (NCAN).

Yinusa described the move to install a new leadership for the organisation as timely and necessary to restore order to the association following years of constitutional violations and leadership crisis. He stated, “NCAN is too important to Nigeria’s non-oil export economy to be left in crisis. We are trying to sanitise our agricultural institutions, and make sure that it contributes to our economy, without over dependence on oil revenue.”

Yunusa commended the unanimous appointment of Mr. Ademola Adesokan, an Executive Member of NCAN, as Interim National President, describing him as a credible leader with a proven track record in agribusiness. He said, “We believe the Interim Committee, under Mr. Adesokan, will align fully with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes food security, value addition, and agricultural transforma- tion.”

David-Chyddy Eleke in Awka

Emmanuel Addeh in Abuja

Emmanuel Addeh in Abuja

IMF: Economic Reforms, Improved FX Position Have Strengthened Nigeria’s Stability, Outlook

Upgrades

country’s

2025 growth forecast to 3.9%, 4.2% in 2026 Cardoso

foresees 6% trade surplus for Nigeria with FX stability Nigeria

strengthens ties with JICA, MIGA to deepen investment drive, economic growth

Eromosele Abiodun and Nume Ekeghe in Washington, D.C.

The International Monetary Fund (IMF) yesterday commended Nigeria for implementing decisive monetary and fiscal reforms, which it noted have begun to stabilise the economy, reduce inflation, and strengthen foreign exchange reserves.

This comes as, at the launch of its latest World Economic Outlook (WEO) yesterday, the IMF announced that Nigeria’s growth forecast has been revised upward to 3.9 per cent in 2025

Deji Elumoye, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

In a landmark deal coming after 40 years of discovery of the HI gas field in 1985, Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell Plc, together with Sunlink Energies and Resources Limited, yesterday announced the Final Investment Decision (FID) on the asset, located offshore Nigeria.

Shell disclosed this yesterday in a statement issued in London, saying that when completed, the project will supply 350 million standard cubic feet of gas per day (mmscf/d), approximately 60,000 barrels of oil equivalent

State Governor, Dr Peter Mbah, his deputy, Ifeanyi Ossai, the cabinet, and the entire political structure in the state, yesterday, dumped the opposition party for the ruling All Progressives Congress (APC).

Being the last PDP state in the South-east zone since the 2023 general election, the defection would certainly cause a major shift in the political calculus of the country.

With Enugu gone, PDP, once a ruling behemoth, no longer has any reckoning in a critical geo-political part of the country, the South-east, thus, making the 2027 elections a near-walk in the park for APC.

Vice President Kashim Shettima, yesterday, dwelt on some of the factors responsible for the wave of defections to ruling party, when he said President Bola Tinubu’s capacity to listen, as well as his inclusive style had been responsible for the formidable rise of APC.

Shettima also declared that the gale of defections by politicians from other political parties to APC had exposed the cracks in the camp of the opposition.

He stated that while the cracks were becoming visible in the walls built by the opposition, APC was growing stronger by the bridges it had constructed.

The vice president, who represented Tinubu, spoke in

and 4.2 per cent in 2026, driven by stronger financial conditions, a rebased Gross Domestic Product (GDP), and higher oil production.

The Fund also raised its 2024 growth projection for Nigeria to 4.1 per cent, which is 0.7 percentage point higher than it had previously estimated.

Also yesterday, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, projected that Nigeria’s trade surplus would hover around six per cent of GDP in the foresee- able future, reflecting a broader restructuring of the economy,

per day at peak production, to Nigeria Liquefied Natural Gas (NLNG) where Shell has 26.5 per cent interest.

The development elicited de- lightful reactions from President Bola Tinubu, the Minister of State for Petroleum, Senator Heineken Lokpobiri as well as the Special Adviser on Energy to the President, Olu Verheijen.

The oil major stated that the development of the asset would boost feedstock supply to NLNG which produces and exports liquified natural gas (LNG) to global markets.

Shell also said that production was expected to begin on the HI field before the end of this decade -2030.

“Following recent invest-

Enugu during the reception of Mbah, his cabinet, and supporters into APC.

He described the decision of the Enugu State governor and his supporters to defect to the governing party as an extraordinary endorsement of APC’s collective vision.

Shettima stated, “Much has been said about the ongoing wave of defections to our great party. What the opposition has failed to do is look into the mirror to ask why the APC remains the preferred destination of Nigeria’s most visionary political actors.

“Their departures are not accidents; they reveal the cracks in the walls they built and the strength of the bridges we have constructed. The APC has, over the years, become a political home where ideas find expression, where ambitions find direction, and where patriotism findsShettimapartnership.” stated that, as Tinubu had often pointed out, it was not the duty of the governing party “to fix the house of the opposition”.

According to him, “Our task is to offer Nigerians a level playing ground and a clear alternative built on integrity, competence, and performance. That we are chosen again and again as the political party of the moment and of the future is because

a more competitive currency, stronger domestic production, and measures to reduce reliance on imported inputs. Cardoso spoke at the G24 press briefing, where he represented the First Vice-Chair, Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun.

Additionally, Nigeria yesterday reaffirmed its commitment to strengthening economic partner- ships with global development agencies following a high-level bilateral meeting between the Federal Ministry of Finance and representatives of the Japan

ment decisions related to the Bonga deep-water develop- ment, today’s (yesterday’s) announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on Deepwater and Integrated Gas,” Shell’s Upstream President, Peter Costello, said in the statement.

“This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market”, he added.

The HI project is one of the major upstream projects long anticipated by both the operators and the federal gov- ernment to boost Nigeria’s gas

we represent order over chaos, progress over paralysis, and hope over despair.”

Addressing a mammoth crowd of supporters, who thronged the Michael Okpara Square, Enugu, to solidarise with Mbah and his new party, Shet- tima maintained that APC had nurtured relationships built on trust, accommodating divergent interests, and offering a platform where every Nigerian with noble intentions can find purpose.

are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,” Dr. Umeoji said. “The NGX’s leadership has been very creative and innovative, and their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription. The bank’s stock price has doubled since the recapital- ization exercise, from N36.50 per share to N68. Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.”

“We are committed to creat-

International Cooperation Agency (JICA) and the Multilateral Investment Guarantee Agency (MIGA).

Speaking at the launch of the IMF’s Global Financial Stability Report titled, “Shifting Ground Beneath the Calm,” the Assistant Director in the IMF’s Global Markets Analysis Division, Jason Wu, said Nigeria’s recent policy steps reflect stronger coordination between fiscal and monetary authorities aimed at restoring macroeconomic balance.

He said: “We have seen Nigeria take many steps to strengthen

production and help to power the nation’s economy through increased domestic gas supply and utilisation.

According to the statement, the increase in feedstock to NLNG, via the Train 7 project that aims to expand the Bonny Island terminal’s production capacity, is in line with Shell’s plans to grow its global LNG volumes by an average of 4-5 per cent per year until 2030.

The oil major further said the development of the HI field would also bolster NLNG’s contribution to Nigeria’s national economic development goals, including jobs in construction andShelloperations. said the HI field was discovered in 1985 and lies in

He said Tinubu’s capacity to listen as well as his inclusive style of leadership and belief in merit had galvanised the party into the most formidable political platform in Africa.

The vice president said, “President Bola Tinubu, our leader, is a man of all seasons and all people — a man whose word is his bond. His sense of inclusion, his rare capacity to listen, and his belief in merit over

ing value for our stakeholders and will continue to partner with the NGX to boost the Nigerian economy,” Dr. Umeoji added. “Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.”

She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end. According to her “For us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market. We are going to continue to

policy frameworks, especially on the monetary policy front, and we generally recommend moving toward a more flexible exchange rate regime.”

He explained that the reforms, alongside improved fiscal man- agement, have already yielded measurable progress.

“In addition to monetary policy actions, revenue collection has improved in Nigeria, and trans- parency around foreign exchange reserves has strengthened.

“These have contributed to a decline in inflation from above 30 per cent last year to about

100m of water depth around 50km from the shore. It stated that the current estimated recoverable resource volumes of the HI project were approxi- mately 285 million barrels of oil equivalent (mmboe).

Shell explained that the HI project was part of a joint venture between Sunlink Energies and Resources Limited (60 per cent) and SNEPCo (40 per cent). It said the production associated with this project will be reported through Shell’s Upstream segment.

Besides, the company’s stated that the project consists of a wellhead platform with four wells, to be installed at the HI field location, a pipeline to transport the multiphase gas to onshore at Bonny, and a gas processing plant at Bonny, from where the processed gas will be transported to NLNG and the condensate to the Bonny Oil and Gas Export Terminal.

The statement further highlighted that the estimated peak production and current estimated recoverable resources presented above were 100 per cent total gross figures.

“Current estimated recoverable resource volumes are a P50 estimate under the Society of Petroleum Engineers’ Petroleum Resources Classification System.

be the investors’ delight, and we assure the market that we would continue to pay enhanced dividends come end of the year.”

Also commenting, the Direc- tor General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasised the role of the NGX in creating value in the Nigerian economic space. He said, “I want to thank you all for making the market what it is. Without you, the market wouldn’t have seen the leap that it has achieved in the last one-and-half year. I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you.

is clearly positive,” he added.

P50 means there is a 50 per cent probability of the estimate being lower and a 50 per cent probability of being higher.

“This project contributes to Shell’s Capital Market Day 2025 commitment to deliver upstream and integrated gas projects coming on stream between 2025 to 2030 with a total peak production of more than 1 million barrels of oil equivalent per day (boe/d). This also supports Shell’s intent to grow top line production across our combined Upstream and Integrated Gas business by 1 per cent per year to 2030.

“LNG plays a key role in the energy transition, producing less greenhouse gas emissions than coal when used to generate electricity, and less emissions than petrol or diesel when used for transport fuel,” the oil giant stated.

Shell recalled that it took a final investment decision on the Bonga North project in December 2024 and recently increased its stake in the Bonga field, consistent with the company’s intention to be a continued disciplined investor in Nigeria’s energy sector through its Deep Water and Integrated Gas businesses.

In a reaction, President

Your ability, tenacity, courage, vision and transparency have moved the market where it is. Our vision is that by next year, we will have the market at 200trn.”

The Doyen of the NGX, Alhaji Rasheed Yusuf while giving his remarks, lauded the Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR for his vision and leadership. He ended by referring to him as the “Doyen of the Commercial bankingZenithsector”. Bank remains committed to creating long-term value for its stakeholders while driving economic development in Nigeria. As the bank continues on its growth trajectory, it has its sights set on global

Depu

23 per cent this year, as well as stronger FX reserve positions.

The direction of travel

CBN Governor, Yemi Cardoso

CISLAC Decries Presidential Pardons Granted to Convicted Felons

Linus alekeinabuja

The Civil Society Legislative Advocacy Centre (CISLAC) has strongly condemned President Bola Ahmed Tinubu’s decision to grant presidential pardons to 175 individuals, including convicted drug traffickers, illegal miners, capital

offenders, and public officials found guilty of corruption.

The Executive Director of CISLAC and Head of Transparency International Nigeria, Comrade Auwal Ibrahim Musa (Rafsanjani), stated in a release that the mass clemency was legally questionable, morally wrong, and damaging to Nigeria’s

Fidelity Bank to Disburse N5bn Credit Guarantee for MSME Financing

Kayode Tokede

Fidelity Bank Plc has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme.

The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.

This was disclosed by the Managing Director/ Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe,

during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.

According to OnyealiIkpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.

image both locally and internationally.

He noted that among those reportedly pardoned are controversial figures such as a former Delta State governor convicted in the United Kingdom(UK), as well as individuals involved in oil theft, kidnapping,

illegal mining, and other transnational crimes.

CISLAC argued that such individuals should not be beneficiaries of a presidential pardon, especially when some were not even tried under Nigerian jurisdiction.

He argued: “You cannot pardon someone convicted by

a foreign court when Nigerian jurisdiction wasn’t involved in the conviction. That is beyond the constitutional powers of the Nigerian president.”

CISLAC further warned that the decision could significantly undermine international legal cooperation, particularly in the areas of

anti-corruption and narcotics control, where Nigeria relies heavily on foreign intelligence, technical support, and collaboration.

The group also noted that the country’s ability to pursue international mutual legal assistance on asset recovery could be negatively affected.

NRMG Pledges to Preserve Nigeria’s National Character, Reputation

sunday Okobi

The Nigeria Reputation Management Group (NRMG) has stated that it will lead, support, as well as collaborate with every Nigerian in restoring and preserving the country’s national character, reputation and honour, as it commemorates the inaugural edition of the Nigeria Reputation Day on October

15(today), 2025. NRMG is a private sector-driven initiative of the Nigerian Institute of Public Relations (NIPR), mandated to lead national efforts in advocacy, public enlightenment, research, and behavioral reorientation toward rebuilding Nigeria’s reputation.

The group, therefore, stated that henceforth,

Nigeria Reputation Day will be celebrated annually on October 15, as a national reminder that integrity and reputation are the true foundations of progress.

Each year, we will renew our shared commitment to honour, trust, and the values that make Nigeria great.

The group made the solemn declaration in a statement signed and made available

to THISDAY yesterday by the Chairman, NRMG, Yomi Badejo-Okusanya, who quoted Mahatma Gandhi’s mantra that: ‘A nation’s culture resides in the hearts and soul of its people’, declaring that: “Today marks a defining chapter in our nation’s story, being the inaugural edition of the Nigeria Reputation Day; a day devoted to reflecting on one of our greatest national assets: our name.

Akinlalu Killing: AMBO Movement Visits Victims’ Families

yinka Kolawole in osogbo

Following the gruesome killing of indigenes of the ancient town of Akinlalu few days ago, the campaign team of the leading governorship aspirant in Osun All progressives Congress (APC), Asiwaju

Wakanow Group Acquires NairaBox to Broaden Portfolio

Africa’s leading travel technology firm, Wakanow Group, has acquired NairaBox, a rapidly growing Nigerian digital platform specialising in entertainment and lifestyle in a strategic move aimed at expanding its footprint beyond core travel services.

The acquisition marks a significant diversification

for Wakanow, positioning the company to offer a more integrated lifestyle experience that combines travel, events, and leisure. NairaBox, known for its seamless access to cinema tickets, concerts, and live experiences, is expected to enhance Wakanow’s value proposition across new consumer segments.

The development was announced in a

statement issued by Heavyweight PR Agency, which is managing communications around the acquisition.

Commenting, Group Chief Executive Officer, Wakanow, Mr. Bayo Adedeji, said the move aligns with the company’s broader strategy to deliver holistic experiences to its customers.

Cradle High School Holds First Graduation Ceremony

The Cradle High School in Benin City, Edo State, has marked its first graduation ceremony, where it celebrated the achievements of its pioneering Class of 2025.

The event brought together the chairman, director, principal, as well a staff, proud parents, students, and distinguished guests to celebrate academic excellence, cultural pride, and character formation.

The highlight of the ceremony was the recognition of the school’s top-performing students. Shalom Agbuza, the school’s first valedictorian, emerged as the overall best graduating student with an exceptional JAMB score of 356 and five A-stars grades in the IGCSE examinations.

In recognition of her academic excellence, Agbuza got a N100,000 award from United Bank

for Africa (UBA), the school’s banking partner. In her valedictory address, Agbuza reflected on the class’s transformation from a

group of four students to a graduating class of thirteen, and spoke of the value of perseverance, legacy, and leadership.

Munirudeen Bola Oyebami, has paid a condolence visit to the families of the victims of the attack.

The AMBO Movement also declared scholarships to the highest academic level for the children of the victims of the incident just as the movement promised

an immediate construction of an ultramodern police division in the town.

Speaking during the visit, the symbol of the movement, Asiwaju Munirudeen Bola Oyebamiji said AMBO Movement would spare no efforts to support the

families of the victims that lost their lives to the incident.

Oyebamiji, who expressed his heartfelt sympathies to the parents and families of the deceased, vowed to work assiduously with the security agencies to bring the culprits to book.

Acting Group Politics Editor DEJI ELUMOYE

Email: deji.elumoye@thisdaylive.com

08033025611 sms only

2027: As N’Assembly Pushes for Early Polls...

In a sweeping move that could redefine nigeria’s democratic timeline, the national assembly is proposing that the 2027 presidential and governorship elections be held six months earlier than usual in november, 2026. sunday Aborisade, in this piece, examines the implication of the lofty proposal.

In what may go down as one of the most ambitious electoral reform efforts in Nigeria’s recent history, the nation’s apex legislative institution has unveiled a comprehensive proposal to move the 2027 presidential and governorship elections forward by six months, from the traditional February-March window to November, 2026.

The proposed shift, which is part of a broader set of amendments to the Electoral Act 2022, is designed to ensure that all election petitions are concluded before the May 29, 2027 handover date. This move, federal lawmakers say, aims to finally end the embarrassing cycle of leaders being sworn into office while still defending their victories in court, a recurring blot on Nigeria’s democratic record since 1999.

The reform drive, championed by the Joint Committee on Electoral Matters of both chambers of the National Assembly, was formally presented at a public hearing in Abuja on Monday, with participants drawn from the Independent National Electoral Commission (INEC), civil society organisations, legal experts, journalists, and other democracy stakeholders.

Under the proposed amendment, elections into the offices of President and State Governors must be conducted not later than 185 days before the expiration of the incumbents’ tenure. By that calculation, Nigeria’s next general elections would be held in November 2026, marking the earliest start to a general election season since the return to civil rule in 1999.

Similarly, legislative elections into the National and State Assemblies would also be held at least 185 days before the end of their current terms. The idea, according to the National Assembly, is to synchronise the entire electoral calendar in a way that grants ample time for litigation and judicial review before the next inauguration date.

Chairman of the House of Representatives Committee on Electoral Matters, Hon Adebayo Balogun, told participants at the hearing that the shift was borne out of a national consensus that Nigeria’s democracy can no longer afford the perennial delays and post-swearing-in disputes that have characterised its electoral process.

According to Balogun, “We are proposing to shorten the duration for election litigations.

“Tribunals will now have 90 days instead of 180 to deliver judgments, while appellate courts will have 60 days. The Supreme Court will also have its own timeframe within the 185-day window. This ensures no litigation extends beyond the handover date.”

To bring this vision to life, lawmakers are pushing for significant constitutional amend-

ments. The Joint Committee is recommending changes to Sections 76, 116, 132, and 178 of the 1999 Constitution, which currently fix election timelines. Under the new proposal, the power to determine election schedules would be moved from the Constitution to the Electoral Act, giving INEC greater flexibility to adjust election timetables based on evolving logistical realities.

A draft note from the committee explains that this would eliminate the frequent need for constitutional amendments each time INEC or the National Assembly seeks to modify electoral timelines.

Equally central to the reform are proposed amendments to Section 285 of the Constitution, which sets deadlines for tribunal judgments, and Section 139, which governs post-election disputes. By aligning these timelines with the 185-day prehandover window, lawmakers hope to institutionalise a litigation process that ends before any new government is sworn in.

Beyond the calendar shift, the National Assembly is also pushing for deeper digitalisation of the electoral process. Section 60(5) of the proposed amendment mandates presiding officers to transmit results from polling units both electronically and manually, including the number of accredited voters.

This dual transmission process, legislators argue, will strengthen transparency and reduce opportunities for manipulation at collation centres, a recurring problem in past elections. INEC, represented at the hearing

by Professor Abdullahi Zuru, threw its weight behind the reform and described electronic transmission as “a necessary step to enhance public confidence and minimise human interference.”

According to him, “Conducting elections earlier will improve planning, logistics, and the resolution of petitions. It will also reduce the risk of post-swearing-in reversals and enhance confidence in the democratic process.”

To further enforce transparency, the new proposal prescribes a fine of ₦1 million or a one-year jail term, or both, for any election official who distributes unstamped ballot papers or result sheets.

A major innovation in the draft bill is the introduction of early voting, a system that would allow security personnel, journalists, election observers, and INEC officials who are deployed on election duty to cast their ballots before the general voting day.

According to the proposed Section (2), “There shall be a date set aside for early voting not later than 14 days to the day of the election.”

This development could enfranchise thousands of Nigerians who have been routinely excluded from voting due to their professional obligations on election day.

The reform also proposes a long-awaited breakthrough for the Nigerian diaspora. Millions of Nigerians living abroad, from the United States to the United Arab Emirates, could soon gain the right to participate in presidential elections if the National Assembly’s diaspora voting provision is passed into law.

This measure, lawmakers believe, will not only promote inclusion but also deepen the connection between the Nigerian state and its global citizens, many of whom contribute significantly to the economy through remittances.

Another area of focus is internal party democracy. The proposed amendments aim to

Despite the overwhelming enthusiasm, the road to implementation remains steep. The proposed constitutional amendments require the approval of two-thirds of both chambers of the national Assembly and at least 24 out of the 36 state Houses of Assembly. This means that bipartisan consensus, often elusive in nigerian politics, will be essential for the reforms to come to fruition.

tighten the regulation of party primaries, curbing the widespread imposition of candidates by party leaders.

The bill seeks to empower INEC to monitor and sanction political parties that fail to conduct transparent primaries or that engage in vote-buying and result falsification.

It also introduces tougher penalties for result manipulation, vote suppression, and obstruction of electronic systems.

Furthermore, INEC may soon have the authority to approve alternative means of voter identification where Permanent Voter Cards (PVCs) are unavailable due to logistical constraints. This clause, reform advocates say, will ensure that no eligible voter is disenfranchised due to bureaucratic or technical delays.

The proposals have drawn broad support from civil society organisations, election observers, and other stakeholders, many of whom described the November, 2026 elections and shortened judicial timelines as a pragmatic approach to curbing electoral crises.

Civil society representatives at the public hearing argued that early elections would allow courts to conclude petitions before new officeholders are inaugurated, thereby preventing the familiar pattern where courts nullify elections months after winners had assumed office.

Some representatives of various civil society groups on the occasion described the proposed amendments as one of the most consequential reforms ever seen in two decades.

They were convinced that it would remove a major source of instability in our democracy and give Nigerians greater confidence that their votes truly count.

Even INEC, which will bear much of the operational burden, expressed optimism that the proposed reforms would make elections more manageable.

The Commission’s representative noted that earlier polls would ease pressure on logistics, especially during the dry season when weather and road conditions are more favourable for nationwide operations.

The push for earlier elections did not arise in a vacuum. Since the return of democracy in 1999, Nigeria’s elections have been repeatedly marred by prolonged legal battles. In 2007, for example, then-President Umaru Musa Yar’Adua publicly admitted that the election that brought him to power was deeply flawed.

Bamidele

Akpabio Abbas

FEaturEs Harnessing Nigeria’s Opportunities for Economic Resilience and Ascendancy

Dalu Ajene

Africa's economic landscape is undergoing a significant transformation, driven by shifting demographic needs, demand for commodities include rare minerals, technological and digital transformation, trade and regional integration and strategic partnerships.

As the continent navigates the complexities of global economic trends, it is poised to capitalise on emerging opportunities and cement its position as a key player in the global economy.

Africa's economic growth is projected to reach 4.4 per cent by 2026, driven by a combination of factors such as fiscal consolidation, rising domestic demand, and growth in resilient sectors including financial services, digital, telecom and tourism.

Its long-term projection can be sustained at over three per cent if Africa continues on its path to embed integrated development strategies including value added industrialisation and AfCFTA.

Africa can lead the green revolution the world expects due to its vast renewable energy potential, including solar and wind resources which is expected to drive growth in the energy sector.

The continent's arable land and favourable climate make it an attractive destination for agricultural investment, with potential for significant growth in output and exports.

The fintech ecosystem, is at its infancy, valued at over $US3 billion, with startups attracting significant funding and driving innovation in financial services – a new springboard for exponential growth.

Significantly, private sector investment in Africa is increasing, with multinational corporations and global financial institutions recognising the continent's growth potential. Foreign Direct Investment [FDI] inflows to Africa reached $US47 billion in 2023, up 10 per cent from 2022, with investments in infrastructure, energy, and technology driving growth.

The Africa Summit thought leadership event in Lagos, organised by Standard Chartered Bank, in collaboration with government, private sector and business organisations, sought to discuss these important factors underpinning Africa’s attraction with an emphasis on industry participants committed to unlocking growth while navigating the ever-evolving challenges evident

in doing business in Africa and Nigeria.

The summit unpacked four things that stand conspicuous for me. First, Nigeria’s government can only benefit from adopting a ‘whole of Africa’ approach that brings together governments, private sector and development finance institutions to deal with the well-documented infrastructure deficit evident in Nigeria and a lot of African nations.

The country’s grand ambitions in infrastructure are already a one-way ticket to success. Nigeria’s National Integrated Infrastructure Master Plan, a public-

privatesector driven multi-trilliondollar development plan, is a good place to start.

It seeks to enhance the market’s infrastructure over the next two decades – including significant projects such as the $US 11 billion LagosCalabar coastal road that traversesand connects eight coastal states, the Lagos transit metro consisting of the 68km Green Line train that will service key urban nodes in Lagos, and the 92,000km fibre optic backbone project across Nigeria to expand coverage and boost digital inclusion.

Second, Nigeria’s diversification of its industries and exportsaway from the oil and gas sector will drive the country towards growth. In H1 2025, non-oil GDP growth outpaced oil GDP growth by a factor of 1.71x.

Africa's economic landscape is undergoing a significant transformation, driven by shifting demographic needs, demand for commodities include rare minerals, technological and digital transformation, trade and regional integration and strategic partnerships….With the right policies and partnerships in place, Africa and by extension Nigeria, can unlock its full potential and drive sustainable economic growth and development

In the same period, the non-oil tax collections surged by 44.2%, demonstrating a resurgence of growth in critical non-oil sectors.

This has also contributed meaningfully to export led growth, which is already bearing fruits. According to the Nigeria Export Promotion Council (NEPC), Nigeria’s non-oil exports hit $US 1.791 billion in Q1 2025, a 24.75 per cent increase from Q1 2024. Led by products such asagricultural products, this growth reflects progress in Nigeria’s diversification strategy. Export volume also saw a 243 per cent jump, reaching over 2.4 million metric tonnes.

Third, the biggest opportunity yet for Nigeria, is in the AfricanContinental Free Trade Area [AfCFTA] which aims to expand market access, liberalise trade in goods and services, reducetariffs and non-tariff barriers and promote intra-African trade.Today, Nigeria’s future is more connected than ever. Nigeria’s inclusion in this free trade area helps to facilitate trade in sectors ranging from fishery and textiles to automotives and electricals.

Following this agreement, Nigerian exports to African markets outside of West Africa are expected to increase significantly, and reach markets such as Botswana, Egypt and Kenya. The agreement has the potential to boost intra-African trade by 52%, increase Africa's GDP by three per cent, and create 68 million jobs by 2030.

Lastly, Nigeria should enhance trade inclusivity of SMEs into the growth equation. SMEs are the backbone of the Nigerian Economy and crucial to the market’s strategy to enhance productivity and promote trade inclusivity.

While the government’s plan is to increase SME contribution to the market’s GDP from 49 per cent in 2022 to 70 per cent by 2025, a lot more needs to be done in affordable credit and mainstreaming their visibility in the global marketplace through greater adoption of cross-border e-commerce platforms.

Standard Chartered Nigeria sees great promise in Africa and Nigeria’s growth prospect. With our extensive network and expertise and over 145 years of doing business in Africa, we are committed to provide tailored solutions to businesses and individuals who are taking part in the transformation we foresee.

With the right policies and partnerships in place, Africa and by extension Nigeria, can unlock its full potential and drive sustainable economic growth and development.

•Ajene is the CEO of Standard Chartered Bank Nigeria Limited

Ajene

TRibu T es

It’s a Harvest of Thanksgiving as Mama Olaitan Victoria Abiodun Clocks Four Scores and Ten

by Kayode Akinmade

On Wednesday, October 15, Chief (Mrs) Olaitan Victoria Abiodun, educationist, businesswoman and community leader, clocks 90. As the Book of Psalms proclaims, it is The Lord’s doing and it is marvelous in our sight. As the day begins with songs of praise, Mama will lack the company of her husband of many years and praise and worship partner, Dr. Emmanuel Adesanya Abiodun, fondly called Baba Teacher, but she will be surrounded by the love, warmth and presence of her dear children, including the Ogun State Governor, Prince Dapo Abiodun (MFR, CON); her grandchildren, extended family members, friends and well wishers. In a country where life expectancy is just a little above 54 years, it is great, in fact glorious, to be 90, hale and hearty, basking in the grace of Almighty God: the celebrations have been fully deserved. The years have not been without challenges, obstacles, many of them daunting, but as the Holy Writ declares, there is a compassion from on high that is new every morning, and faithfulness that is great. It is too lofty to be properly captured in words. Mama at 90 is not about sagacity, design or intention: it is the sheer mercy and love of the Almighty: pure, boundless and unfeigned. To live to be 90 in a country plagued by many ills, and having fought so many battles, calls for precisely the thanksgiving that Mama and her family and friends are offering today. Let us all join Mama in her feast of thanksgiving… Born on 15th of October,1935 to the family of Mr Raji Alli Balogun and Mrs Adijatu Kubura Alli Sobowale in Iperu Remo, Ogun State, Chief (Mrs) Olaitan Victoria Abiodun began her primary education at Bishop Oluwole Memorial Primary School Agege, Lagos, and later proceeded to St James. Anglican Primary School, Iperu, where she completed her primary education in1955. In 1956, she started teaching at the African Church Primary School, Iperu, also known as Bethel. The desire to acquire more knowledge took her to the Teacher Training College, Iperu, where she obtained her Grade 3 certificate. It was time to be posted to St Paul’s Anglican Primary school Ijokun Sagamu where she taught from 1958 to 1962…

In 1963, she got admission into the Teachers Training College, Idi-Aba, Abeokuta, for her Grade 2 certificate. Armed with that certificate, she worked at IJABCOL Grade 2 Teacher Training College and Modern School in Iperu, and in 1968 she moved with her husband to Ayetoro Egbado (now Yewa North). Her husband taught at the Comprehensive High School, Ayetoro, while she was transferred to United Primary School, Ayetoro, where she taught till early 1971 when she moved to Ondo town with her husband who had just joined the staff of the prestigious Adeyemi College of Education Ondo, an institution affiliated to the then University of Ife, now Obafemi Awolowo University, Ile-Ife. She taught at the Local Authority School (1) in Ondo, then in October 1972 she gained admission into Adeyemi, where she studied Home Economics. After her graduation, she was posted to Ondo High School, Ondo, where she was made the head of the Home Economics Department. And this was where she retired in1986, following which she took up trading and extended her frontiers far and wide.

At 90, Chief (Mrs.) Victoria Olaitan Abiodun stands as a living testimony to grace, faith, and enduring values: her life reflects devotion to family, service, and community. As she says, “I feel deeply grateful to God. Ninety

years is not a small journey. It’s been grace all through — grace that carried me through marriage, motherhood, teaching, and service to my community.”

Life as a child, she recalls, was modest but meaningful: “We valued hard work, honesty, and community. Education was

our key to freedom, and that belief guided everything I did.” Her marriage was great: “My late husband and I were both teachers. We both believed teaching was more than a job — it was a ministry. “Baba Teacher,” as people called him, used to say that when you teach a child, you are shaping the world. We wanted to shape lives, and we gave our hearts to it. In those days, there was no social media — only purpose and prayer. We met through mutual friends in Ibadan, both of us teachers, and we shared the same values. We married in 1960, and it was the beginning of a long, blessed journey. I had 65 years of marriage, a rare blessing.”

The Ogun State Governor is her first born and the bond between mother and son is indeed cast in stone; unbreakable. As the American writer Sara Hale says, there is no influence so powerful as that of that of the mother. Sometimes the strength of motherhood is greater than natural laws, says the Pulitzer Prize-winning American novelist, essayist, and poet, Barbara Kingsolver; and that is why the great Abraham Lincoln crafted these unforgettable lines: “All that I am, or ever hope to be, I owe to my angel mother.” For Dapo Abiodun, and in the words of the poet, Emily Dickinson, a mother is one to whom you hurry when you are troubled. Mama is her son’s unceasing fountain of support who trained him to be ready to dare, and to go against the norm to set new standards. During his 42nd birthday in Ikoyi, Lagos, she spoke glowingly about him, saying with pride: “ I am the one and only mother of Dapo Abiodun.” She trained her children well, and her counsel combined with great vision has given the Gateway State a Governor turning barren land to construction sites. Go

to the Gateway Airport and see wonders in architecture and engineering; go to Olumo Rock and see the power of renewal. Go to the MKO Stadium and see what it means to have a Governor imbued with strategic foresight.

Her pride in her son is not just because he’s Governor, but because he has remained humble and focused on service. Her word to him as he hits 90 cheers is to fear God, listen to advice, and never forget the poor: power should bring compassion, not arrogance. The key to success, she avers, is to work hard, respect elders, and build your future with integrity. Why? “The world is moving fast, but good character never goes out of fashion.” Her words are indeed words on marble, and are fitting in closing this piece: “ I believe in quiet strength. You don’t have to shout to lead. I speak when it is necessary, and I stand by truth. That is how I was raised, and that is how I raised my children. I want women to see themselves as builders — of homes, of society. Women, support your husbands, raise your children well, and never stop learning. Women carry the soul of the nation. My greatest legacy is a good name. The Bible says a good name is better than riches. If people remember me as a woman of faith, discipline, and love, I am fulfilled. I pray for peace — peace in Nigeria, peace in Ogun State, and peace in every home. May God guide our leaders, bless our children, and let the light of truth never go out in our land.”

Happy Birthday, Mama Olaitan Victoria Abiodun, and many glorious returns. Here’s wishing Mama many more years in sound health and joy of heart.

•Akinmade is Special Adviser, Media and Strategy to Governor Dapo Abiodun

Aremu Abiodun My Friend Of 40 Years Is Gone. A Great Star Has Fallen From Our Sky!

by Gbenga Olawepo- Hashim

Aremson (as we called him) and I met in 1986 as young activists. I was in the School of Basic studies and Aremu in the school of Technology, both Campuses of the College of Technology Ilorin with the third college being School of Management and vocation.

Aremu and I belonged to the Youths Thinkers Club, a group of Patriotic young thinkers committed to a better Nigeria and the Liberation of our Fatherland from underdevelopment. We were also Joint members of the Patriotic Liberation Movement, a working class and peasantry focused left group with leading figures like M Yaqub (later Rotimi Obadofin), Femi Ahmed, Didi Adodo, Rev Father Ofei, Bona Chizea, Alex Ayatollah, Sunday Ewen etc.

Ilorin where Aremson cut his activist political teeth like I, was an idealogical melting pot in the mid 80s. At the Youth and Students fronts were actors like Shola Olorunuomi now a University Professor, Denja Yaq, Lanre Fulani, Mathew Keyi, Hamzat Ibn Suleman, etc. In the media were Dapo Olorunyomi, Lanre Kawu (Modibo Kawu Ladi Abdul Azeez) who eventually became Dapo Olorunyomi’s wife etc etc.

A tribute to Aremson’s unwavering commitment to the working people of Nigeria and the cause of a better Nigeria cannot leave out the influence of the family of patriots that produced him and ideologically birthed some of us.

Aremu and I had a closer bond, we were very passionate about change. Some people say every opportunity to confront the status quo was like a birthday ceremony for Aremu and I. Some more uncharitable critics called us “Petty bourgeois exhibitionists”.

In May 1986, Aremu as President of Students Union led protesting students of School of Technology and I led thousands of students from school of Basic studies to protest the Killing of students in Abu Zaria in what became the Ango must go protest. We were heading to rendezvous at the NTA Ilorin where we had planned to make a broadcast, when we were confronted by large detachment of Mobile Anti riot policemen at Ministry of Agriculture in Ilorin. The Government declared a curfew but we managed to get

together later at my grandmother’s place to a plate of mama’s Amala and Ewedu soup.

Aremson and I kept close contact and visited with each other regularly over the past four decades.

He recently survived stroke, but fell to the cruel assault of a hit and run driver. Why was Aremu crossing the road all by himself? He had a car which he seldom use because the road to his house was simply impassable, the last time i visited. Most residents of the community simply just park their cars.

Aremu built his house amongst the poor even though I won’t consider him poor, he chose by himself what he did, not because he lacked better options.

His choice was made easy for him by the understanding and cooperation of his loyal wife who must now bear the greatest weight of this loss.

Aremson was an Internationalist, particularly a friend of Cuba and a promoter of the Legacy of Amicar Cabral.

We were ideologically bonded until his death. Though we chose different paths as we grew up, he, a professional revolutionary, I chose entrepreneurship and Mass Democratic Politics, but our cord of commitment to a better Nigeria remained unbroken. A rare patriot has fallen, a combatant for the cause of the poor is gone, my friend has become the pool of water after the rain that passes by the street never to return home again. Adieu great one!

Mama OlaitanVictoria Abiodun

Late Aremu Abiodun

www.thisdaylive.com

opinion@thisdaylive.com

Nigcomsat 1R

SHOW THE LIGHT, AND THE PEOPLE WILL FIND THE WAY

EROMOSELE

Education represents progress. The most fundamental difference between the developed nations and the developing ones is the level and quality of education. A leading African American civil rights activist, Ella J. Baker (1903-1986), famously quipped, “show the light, and the people will find the way”. The Great Zik of Africa reflected this statement in his Renascent Africa and also made it the motto of his crusading West African Pilot newspaper when it was founded in 1937.

The launch of Free Universal Primary Education in Western Nigeria by the Chief Awolowo government on January 17, 1955, was a most important development in our nation’s history. It led to massive enrolment figures in schools in the Western Region. When the General Olusegun Obasanjo government launched a similar scheme in the mid-1970s, there was an unprecedented upsurge in primary school enrolment throughout the federation. In 1979 when the Unity Party of Nigeria (UPN)-controlled Lagos, Oyo, Ogun, Ondo, and Bendel states launched the Universal Primary Education programme, school enrolment figures rose sharply. People who were already approaching 20 years of age returned to primary school, showing that poverty was a major impediment to education. I would not have gone beyond primary school but the tradition of benevolence and solidarity in my extended family. Children who showed promise were supported by family members who could. My father supported my uncle Basil to go to school and my uncle rose to become primary school headmaster. He, in turn, supported me in primary school; another uncle Clement who was supported in school by uncle Basil supported me to go to high school. All of my education was in Catholic schools when the missionaries controlled most of the schools in the Eastern region.

I thank the management and staff of the Independent Newspapers for commemorating the 70th anniversary of Free Universal Primary Education in Nigeria. It was launched when there were only three regions in Nigeria, and the regions were in healthy rivalry. The Western Region was far the richest. Its main revenue earner, cocoa, was commanding high prices on the international market. Chief Awolowo, an education lover, had the vision to implement it. Besides, he had experienced hardship when he was growing up which affected his educational pursuit. Like me, he lost his father early. Awo’s love of education was such that, despite earning a degree in commerce from the University of London at home which

was a very important achievement in those days, he left his family behind to travel to England to study law. As he wrote in a letter published by Dele Giwa’s Sunday Concord in September 1980, Chief Awolowo read law to enable him to be eloquent like The Great Zik after watching Dr Nnamdi Azikiwe address meetings of the Nigerian Youth Movement in Lagos. The rivalry between Nigerian nationalists did not prevent Chief Awolowo from launching his historic Tribune Newspapers, Nigeria’s oldest newspapers, on November 16, 1949, Zik’s 45th birthday. What lesson can the present generation of Nigerians learn from our nationalists?

It was predictable that the launch of Free Universal Primary Education in the West was going to spur the Eastern Nigerian Region to declare free education. Free education in the East was, however, a qualified success, as President Jimmy Carter of the United States would put it. It was fiercely opposed by the Catholic Church which owned or managed most schools, including all primary and secondary schools I attended. Besides, there were not enough public schools, buildings and facilities. Eastern Nigeria was the poorest of the three regions because palm produce, its main revenue earner, was fetching modest revenue. It could not grapple with the challenges of free universal education.

As I have noted, this was a period of healthy competition among the component groups of the Nigerian federation. What The Great Zik couldn’t do through free education he made up through other strategies. For instance, he inspired and motivated communities to embrace education with gusto. They mobilized funds to award scholarships to promising community members, a practice captured in Achebe’s No Longer at Ease. The result was that between 1945 when the Second World War ended and 1965, the Igbo “wiped out their educational handicap in one fantastic burst of energy”, as Chinua Achebe puts it in The Trouble with Nigeria.

The East had begun to compete effectively with the West in education within just 20 years.

The healthy competition continued after independence. When Eastern Nigeria inaugurated the University of Nigeria at Nsukka in 1960, Western Nigeria launched the University of Ife in 1962 and the Northern Region commissioned later the same year the University of Northern Nigeria at Zaria, though it was changed later to Ahmadu Bello University to honour Sarduana. This is the healthy rivalry we should expect from states because it makes for rapid national progress. Why is it not happening now? Even in the Second Republic, when Governor Jim Nwobodo launched the Anambra State University of Science and Technology, Governor Melford Okilo responded with the Rivers State University of Science and Technology, and Governor Lateef Jakande set up the Lagos State University. Graduates of these new universities were competitive. We are marking the 70th anniversary of Free Universal Primary Education in Nigeria. This is good, for countries like Germany have prospered through free education at all levels. Our nationalists who led us to independence laid a good educational foundation. The main challenge facing us now is: where do we go from here? What is the future of education in Nigeria?

On September 23, 2025, at the annual Fafunwa Memorial Lecture in honour of the foremost Nigerian educationist, Professor Babatunde Aliu Fafunwa, CON, NNOM, a former Minister of Education, I called attention to the imperative of embracing generative artificial intelligence in our education system, starting from primary school. But I wondered how our pupils could be taught AI when most rural community teachers are not yet computer literate. I, therefore, proposed that the Federal Government, all state governments and all 774 local government areas in the country jointly pool funds to provide each public school teacher with a computer. The President Obasanjo administration did a similar thing when the three tiers of government mobilized funds to provide each Divisional Police Office in the country with a Toyota Prado SUV to enhance security nationwide. I use this opportunity to repeat the call for a computer for every public school teacher in Nigeria.

Excepts of a lecture by Prof Nnaji, Chairman of Geometric Power at the 70th anniversary of Free Universal Primary Education organized by Independent Newspapers, Lagos

BART NNAJI argues for a computer for every public school teacher in Nigeria

Nigcomsat 1R has elongated lifespan, writes SONNY ARAGBA-AKPORE

NIGERIA’S MISSION TO SPACE

After a very long wait to realize a long dream, Nigeria launched a communications satellite on May 13, 2007. It was named Nigcomsat 1. While some saw it as a fulfilment of a dream, many others never believed it was true. Some people doubted if indeed Nigeria went to space at all, especially when it was in conjunction with the Chinese, having woven stereotypes around China as a country of alleged fake products. The launch was seen the same way misgivings followed any product that was “Made in Japan “in the days of yore. Japan was derided as a country where fake products were allegedly produced, thus misplacing the hardworking innovation of the Japanese, who were just coming out of an insensitive attack during World War 2 with bombings of Hiroshima and Nagasaki, actions that were believed to have ended the Second World War.

After that, the world has never been the same again. The Japanese have become the toast of innovation and technology in the automobile, electronics, and all the good things coming out from science and technology, including Artificial Intelligence (AI) and Internet of Things (IoT).

Sadly, on November 11, 2008, the Nigerian satellite “failed “, and the few people who believed the feat before now joined the large population that doubted the launch at the beginning.

The satellite was in the orbit for only 18 months before it was confined to the “graveyard “(parked as in parking). The promoters of the programme were vilified and called names for bringing the country to disrepute, especially with such gigantic investments.

It cost $250m out of which Nigeria's counterpart funding was $50m, while China Great Wall Industry Corporation (CGWIC) provided the balance $200m sourced from China EXIM Bank at low interest rates. Viewed as a failed project, but it’s Chief Executive at that time, who was believed to be the midwife of the project, Mr Timasaniyu Ahmed-Rufai, dismissed such insinuations as false.

“Yes, the satellite had technical issues of power supply to it, and it was only technically wise to deorbit it to forestall further damage to it and avoid collateral damage to other satellites, that may be affected if we didn’t take the action we took”, he was quoted then in defence of the position of his company. And by virtue of the clauses of the agreement with CGWIC before it was launched in 2007, the satellite was replaced by CGWIC at no cost to Nigeria.

Indeed after the November 11, 2008 date when the satellite failed, the Chinese offered to replace the satellite at no cost to Nigeria.

And so Nigcomsat 1R was launched on December 19,2011 with 28 transponders made up of four in C-band,14 in Kuband, eight in Ka-band and L-band had two.

The original plan was for the satellite to deepen Nigeria's position in space tech-

nology by providing seamless services for Broadband internet access, Telecommunication services , Satellite TV broadcasting, Tele-education, Telemedicine, among others.

But 14 years after its launch, not much has been in that direction, perhaps due to lack of confidence by potential customers and fear of the required expertise of its managers and the missing political will for attracting investors to invest in its expansion.

The only visible achievement so far is that it deepened Nigeria-China space technology relationship .

By December 19, 2011 when NigComSat-1R, was launched in Xichang, China it had a 15-year design cycle and it gets close to the end of its lifespan it is believed to be running low .

Insiders at NIGCOMSAT explained to this writer that the lifespan is being extended through a very careful fuel management “using propellant sparingly and efficiently for orbit corrections to extend its operational life until 2028.”

But recently,officials of NIGCOMSAT Limited received the Kenya Satellite Agency (KSA) in Abuja.

Talks centred on how to deepen Africa in global communications satellite service provision, and both organisations talked about collaboration on how to achieve this difficult task of going to space to engender footprints around the globe.

Although details of the talks were sketchy, it appears that officials of NIGCOMSAT are beginning to wake up from their slumber after providing fitful services that have been anything but enticing.

Managing Director of NIGCOMSAT Ltd, Mrs Jane Egerton-Idehen, was full of praises for the KSA led by its Director General, Brigadier (rtd.) Hillary Kipkosgey for KSA’s interest in collaboration, calling it a milestone for Africa’s space industry.

“Nigeria’s investment in the space sector was driven by visionary leadership that recognised the potential of space technology to grow our economy, build a robust ecosystem, and attract global investors” Egerton-Idehen submitted, adding “I believe this collaboration can help address critical issues such as national security, sustainability, and sovereignty,” Mrs Egerton-Idehen said.

Aragba-Akpore is a member of THISDAY Editorial Board

ELIZABETH EROMOSELE argues for the integration of eye care into our health systems

PRIORITISING EYE HEALTH IN NIGERIA

"The eyes are the window to the soul," is a popular statement. The truth is that the eyes are also the window to education, productivity, and quality of life. Imagine a child in Lagos struggling to read from the board, not because she is lazy or distracted, but because her eyesight is failing. Picture a farmer in Katsina unable to tend to his crops, not because the rains failed, but because cataracts have clouded his vision. Consider the office worker in Port Harcourt who squints endlessly at his computer screen because he cannot afford a simple pair of glasses. These are not distant stories - they are daily realities for millions of Nigerians.

On Thursday, October 9, 2025, the world paused to observe World Sight Day, an annual event that shines a spotlight on blindness, vision impairment, and the importance of eye health. This year’s theme, #LoveYourEyes, is a rallying call for individuals, communities, and governments to make eye care accessible, available, and affordable for all. The International Agency for the Prevention of Blindness (IAPB), which coordinates the campaign, is spearheading a year-long global petition to gather one million voices, urging decision-makers to prioritise eye health.

For Nigeria, a country with over 200 million citizens, this campaign is especially urgent. According to estimates from the World Health Organisation (WHO) and local studies, more than 4.25 million Nigerians are blind or visually impaired, many from preventable or treatable causes. Cataracts, glaucoma, uncorrected refractive errors, trachoma, and diabetic retinopathy top the list. What makes this even more tragic is that nearly 80 per cent of global vision loss is avoidable. This invariably means millions of Nigerians are suffering needlessly.

But the impact goes beyond health. Poor vision directly affects education, productivity, and household income. A child who cannot see the board struggles in school and may eventually drop out. An artisan who loses his sight cannot work and slips into poverty. For Nigeria’s economy, the cost is staggering: lost productivity due to poor vision is estimated in billions of naira annually.

Children, in particular, face lifelong disadvantages. Experts note that 80 per cent of learning in a child’s early years is visual. Without proper eye screening in schools, thousands of children with correctable vision issues go unnoticed, their potential cut short before it even begins.

Take the story of Toheeb, a sevenyear-old boy in Lagos State. Born with cataracts, he spent the first years of his life in darkness. He could not play freely with other children, and school was impossible. His parents, petty traders, assumed nothing could be done until a charity outreach programme connected him to a free eye surgery project.

He then underwent a simple cataract surgery. The operation, which took less

than an hour, changed his life forever. Today, Toheeb can see. He is back in school, learning to read and write for the first time. His teachers describe him as “curious and eager.” For his family, it is nothing short of a miracle.

Toheeb’s story is a reminder that sight can be restored, futures can be reclaimed, and blindness does not have to be a life sentence. But for every Toheeb, there are thousands of other Nigerian children still waiting for that chance.

The #LoveYourEyes campaign is not just about individual action; it is about systemic change. In Nigeria, it speaks directly to three critical gaps - accessibility; affordability; awareness.

The campaign’s focus on children’s vision is particularly relevant for Nigeria, where over 40 per cent of the population is under 15 years old. Without intervention, vision problems in this demographic could affect future literacy, workforce readiness, and national development.

World Sight Day 2025 presents an opportunity for Nigeria to rethink its approach to eye health. In my mind, here are clear steps forward: Integrate Eye Care into Primary Healthcare: Every primary healthcare centre should have basic eye screening facilities. This ensures early detection and treatment at the community level. Governments must engage optometrists in primary eye healthcare provision.

Scale Up School Eye Health Programmes: State governments must introduce mandatory vision screening for all pupils/students. Children deserve to see and learn clearly.

Invest in Human Capital: Nigeria has a shortage of ophthalmologists, optometrists, and ophthalmic nurses. There is an urgent need to expand training programmes and incentives to help bridge the gap.

Subsidise Essential Eye Care Services: From glasses to cataract surgeries, the cost must be reduced. Vision should not be a privilege for the wealthy.

Strengthen Public Awareness Campaigns: Media, influencers, and religious organisations must be mobilised to spread the #LoveYourEyes message nationwide. The National Orientation Agency has its job cut out for it.

Dr Eromosele is the Optometrist-in-Charge at Vantage Point Eye Clinic, Idimu and Secretary, Alimosho Zone, Nigerian Optometrists Association (NOA)

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

TACKLING NIGERIA’S ENDEMIC POVERTY

The authorities must do more to alleviate the scourge

serious hazard.

No fewer than 139 million Nigerians are now living in poverty. According to the latest report by the World Bank, the gains from the current reform could be lost if they fail to translate into tangible improvements in people’s welfare. In a report titled, ‘From Policy to People: Bringing the Reform Gains Home,’ World Bank Country Director for Nigeria, Mathew Verghis, commended the current administration’s efforts on the exchange rate and petroleum subsidy regimes, describing them as “foundational” steps that could reshape the country’s longterm economic trajectory. However, he also cautioned that these macroeconomic improvements had yet to translate into improved living conditions for ordinary Nigerians. “Poverty, which began to rise in 2019 due to policy missteps and external shocks such as COVID-19, has continued to increase even after the reforms.”

Meanwhile, there is nothing new in the latest World Bank report. In November 2022, the National Bureau of Statistics (NBS) revealed that no fewer than 133 million Nigerians, representing 63 per cent of the population at the period, were living in multi-dimensional poverty. The report was in tandem with the United Nations Development Programme (UNDP) requirement of a basket of goods and services needed to live a non-impoverished life valued at the current prices rather than those who live on less than two dollars a day. People who do not have an income sufficient to cover that basket are deemed to be multi-dimensionally poor.

· Food inflation affects everybody, but particularly the poor, and has the potential to undermine political support for reforms

Although the Special Adviser on Media and Public Communication to the president, Sunday Dare, has dismissed the World Bank report as “unrealistic,” we hasten to admonish that living in denial about a glaring problem is unhelpful for the administration of President Bola Tinubu. The picture painted by the World Bank is even mild compared to the reality of most Nigerians today. Following the economic reform programmes that necessitated removal of fuel subsidy and the devaluation of the naira, basic staples have been priced beyond the reach of an average Nigerian. Even the on-season periods when prices of certain items drop, providing a window for consumers to stockpile against off-season periods no longer count, perhaps due to the national security situation. In several parts of the country where farming is the main occupation, the incessant violence on communities by terrorists have made the profession a

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

Rather than criticise the World Bank, the preoccupation of the presidency should be on how to address sluggish growth, low human capital, labour market weaknesses, and exposure to shocks which are contributing to poverty in Nigeria. “Growth has picked up, revenues have risen, debt indicators are improving, the FX market is stabilising, reserves are rising, and inflation is finally beginning to come down. These are big achievements, and many countries would envy them,” Verghis stated, before raising concerns about the growing poverty in the populace that is evident. “Food inflation affects everybody, but particularly the poor, and has the potential to undermine political support for reforms.”

We are not surprised by the conclusion of the World Bank on the growing poverty rates in the country. Rising unemployment, rising inflation and an increasingly vulnerable currency have continued to torment the people and render their lives even more miserable. We therefore call on government at all levels to come up with interventionist measures to provide immediate succour for more than 60 per cent of the population, and in the long run put in place sustainable measures aimed at addressing the growing poverty in the country.

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.

DEFECTIONS AND THE THREAT OF A ONE-PARTY STATE

The gale of defections currently sweeping across Nigeria’s political landscape calls for serious concern and caution. Many Nigerians now fear that the country may be sliding dangerously toward a one-party system, a development that would spell doom for democratic governance.

Elected governors, legislators, and political appointees are defecting in droves to the ruling All Progressives Congress (APC), while others are still weighing their options. The trend has intensified in recent months, as political actors seek to align themselves with the centre of power ahead of the 2027 general elections.

Despite clear provisions of Section 109(1)(g) of the 1999 Constitution (as amended), which states that a member of a House of Assembly shall vacate his seat if he defects from the party that sponsored his election to another political party, enforcement has been weak. The constitutional safe-

guard meant to preserve political stability and discipline among legislators has become ineffective because it is rarely implemented, especially when the defections favour the ruling party.

Unfortunately, there are no explicit legal restrictions against elected governors defecting from one political party to another, which explains the recurring wave of such movements over the years. This loophole continues to undermine party ideology and the spirit of democracy.

Equally disturbing is the lack of seriousness displayed by opposition parties in challenging these defections through the courts. While they accuse the ruling party of coercion and misuse of state instruments to lure their members, many of them are weighed down by internal crises, factional disputes, and leadership struggles. These internal wranglings have made them vulnerable, as defectors often

cite instability and uncertainty within their parties as justification for crossing over, especially those seeking re-election. The truth remains that the opposition must first put its house in order. It must reorganize its structures, rebuild internal democracy, and strengthen its constitutional frameworks to inspire confidence among members. Only a disciplined and united opposition can effectively check the excesses of the ruling party and preserve the balance of power that is essential for a vibrant democracy.

If the current trend of defections is left unchecked, Nigeria risks drifting toward a one-party state, a situation that will stifle dissent, weaken accountability, and ultimately bury the opposition. Such a development would be disastrous for the nation’s democratic evolution.

Tochukwu Jimo Obi, Abuja

BUSINESS WORLD

Despite elevated provisioning due to the industry wide wind down of the Central Bank of Nigeria (CBN) forbearance regime, nine deposit money banks recorded a marked improvement in total asset quality in the first half of 2025.

Analysis of the banks’ financial results for the half year ended June 31, 2025 showed that they recorded N180.96 trillion total assets, about 9.01 per cent increase over N166 trillion declared in 2024

Nume Ekeghe

Deposit Money Banks (DMBs) have continued to dump excess liquidity with the Central Bank of Nigeria (CBN), placing a total of N58.099 trillion through the Standing Deposit Facility (SDF) window between September 23 and October 13, 2025, according to latest data from the apex bank.

The surge reflects banks’ growing preference for risk-free returns, taking advantage of the CBN’s

full financial year.

A breakdown of the results showed that Ecobank Transnational Incorporated (ETI), followed by United Bank for Africa Plc (UBA), Zenith Bank Plc and First Holdco Plc led the chart with the largest total assets.

Guaranty Trust Holding Company Plc (GTCO), FCMB Group Plc, Wema Bank Plc, and Sterling Financial Holdings Company Plc, Stanbic IBTC Holdings Plc also recorded improvement in total assets.

In the period under

recent adjustment to the asymmetric corridor an incentive that has made overnight deposits more attractive relative to shortterm government securities.

Last month, the Monetary Policy Committee (MPC) took a dovish turn for the first time since September 2021, cutting the Monetary Policy Rate (MPR) by 50 basis points to 27 per cent from 27.5 per cent. In addition, the Committee narrowed the asymmetric corridor

review, ETI declared N40.09 trillion total assets, about 13.4per cent increase over N43.3 trillion declared in 2024, while UBA announced N33.3 trillion total assets, representing an increase of 9.7 per cent when compared to N30.3 trillion declared in 2024.

However, ETI’s growth in total assets showed that deposits from customers closed June 30, 2025 at N36.56 trillion ($23.86 billion), about 16 per cent increase over N31.64 trillion ($20.42 billion) reported in audited 2024 full financial year.

around the policy rate to +250bps/-250bpsfrom +500bps/-100bps effectively allowing banks to earn higher interest on funds deposited with the CBN under the SDF.

The CBN data showed that since the adjustment on September 23, total SDF placements jumped sharply to N58.099 trillion, compared to N26.487 trillion recorded between September 1 and 22, before the policy shift. This translates to an increase in average daily deposits

Also, ETI’s loans and advances to customers stood at N16.86 trillion ($11.01 billion) as of June 30, 2025, a growth of 10 per cent from N15.35 trillion ($9.91 billion) declared in audited 2024 full financial year.

The CEO of Ecobank Group, Mr. Jeremy Awori, in a statement said: “Our half-year results reflect strong execution of our Growth, Transformation, and Returns (GTR) strategy and the resilience of our diversified panAfrican business

On its part, Zenith Bank’s

from about N1.7 trillion to N4.1 trillion, underscoring the sector’s appetite for safer, high-yield placements amid lingering macroeconomic uncertainties.

Analysts at CardinalStone Research explained that the change in the corridor allows banks to “borrow from and deposit with the CBN at 29.5 per cent and 24.5 per cent, respectively.”

They noted that, despite the lower MPR, “banks are likely to remain net depositors with the CBN,

total assets stood at N30.9 trillion, a growth of 3.5 per cent from N29.96 trillion posted in 2024 full financial year while First Holdco posted N27.2 trillion total assets as of June 30, 2025, representing an increase of nearly three per cent when compared to N26.2 trillion reported in 2024 full financial year.

The four DMBs in half year ended June 30 2025 saw a significant growth in deposits from customers that impacted on total assets.

For instance, deposits from customers

as the SDF rate remains more attractive than the one-year Nigerian Treasury Bill (NTB).”

In the Treasury Bills secondary market, yields climbed across all maturities on Monday. The 1-month, 3-month, 6-month, and 12-month papers gained 12bps, 28bps, 0.5bps, and 5bps respectively. However, the average NTB yield eased marginally by 1bp to 17.39 per cent, reflecting sustained bullish sentiment and strong investor demand

contributed about 74.5 per cent of ETI’s total assets as of June 30, 2025 from 73.05 per cent in 2024, while UBA saw contribution of deposits from customers on total assets at 72.7 per cent as of June 30, 2025 from per cent in 2024. UBA in a presentation to investors stated that the strong deposit from customers growth as of June 30, 2025 was due to extensive product offerings, preferred banking partner, and service efficiency/quality.

in the secondary market. At the close of trading, the 1-month bill closed at 16.1720 per cent, the 3-monthat 16.6854 per cent, the 6-month at 17.3806 per cent, and the 12-month at 18.3711 per cent. Meanwhile, the interbank money market displayed mixed trends. Overnight (OVN) rates were steady at 24.86 per cent, reflecting system liquidity inflows from recent maturities.

Kayode Tokede

Nume Ekeghe

Senior Research Analyst at FXTM, Lukman Otunuga, has projected that Nigeria’s inflation rate could ease to

18.8 per cent year-on-year in September from 20.1 per cent in August, driven by declining food prices and a firmer naira.

Otunuga in a statement

Royal Exchange Achieves Positive Earnings, Announces N1.04bn Profit

Ebere Nwoji

The Chairman Royal Exchange Group Plc, Mr. Kenny Ezenwani Odogwu, has said that the Royal Exchange group in its business outing for the year ended 2024 delivered positive earnings performance achieving a profit After Tax of N1.04 billion

He attributed the positive performance to increased revenue and share of profit in associate companies which has contributed to the Groups overall top line.

According to him, Net Income of the group rose by 133 percent from N767m to N1.7bn for FY 2024 and 2023, respectively.

He said total expenses reduced by 24 percent from N969 million to N728 million

in FY 2024 while profit After Tax position stood at N1.04bn in FY 2024.

Speaking further on the group’s performance, Odogwu said Royal Exchange boasted a robust liquidity position and healthy cash flow, providing flexibility for future investment opportunities.

“We remain dedicated to capitalising on market opportunities and ultimately generating value for shareholders. This turn around was achieved despite significant global and local economic headwinds, including macroeconomic turbulence, financial market volatility, and domestic challenges-like fuel subsidy removal and foreign exchange fluctuations.

noted that while Nigeria’s Consumer Price Index (CPI) will dominate domestic focus this week, global markets are already grappling with renewed risk aversion following escalating US-China trade tensions.

He stated: “A combination of softer food prices and a strengthening naira may have tamed price pressures. Further

Sunday Ehigiator

A new study by Moniepoint Microfinance Bank has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country.

The findings form part of the second edition of Nigeria’s

signs of cooling inflation may pave the way for additional rate cuts by the Central Bank of Nigeria (CBN) in November to stimulate economic growth.”

He explained that a brief post by former US President Donald Trump on Truth Social was “enough to erase almost $2 trillion from US markets last Friday,” after

Informal Economy Report, which Moniepoint is set to officially launch in Abuja.

The yet-to-be-released report has, however, received generous support from the Ministry of Industry, Trade, and Investment, and the Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.

Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80

he threatened to impose an additional 100 per cent tariff on Chinese goods starting November 1.

“US equity bulls were slaughtered as the S&P 500 tumbled 2.7 per cent its worst session since April. The pain spread beyond equities with Bitcoin collapsing like a house of cards while safe-haven gold glittered through the chaos,”

per cent of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.

It said, “The Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that

he said.

“The Trump administration signalled an openness to talk with China, which has slightly eased concerns. Regardless, the damage has already been done,” adding that trade uncertainty comes at a time when investors are already uneasy over the ongoing US government shutdown that began on October 1.

strengthen and formalise informal enterprises.”

“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Moniepoint’s Managing Director, Babatunde Olofin.

The leadership of the Ibadan Electricity Distribution Company Plc (IBEDC), has reiterated its commitment to enhancing power supply reliability and deepening customer engagement across its franchise area.

The Managing Director/ Chief Executive Officer of the distribution company, Francis Agoha, gave the assurance during a strategic Breakfast Meeting with Maximum Demand (MD) customers, held in Ibadan, the Oyo State capital.

The event formed part of activities commemorating

Customer Service Week 2025, with the theme, “Mission: Possible.”

Agoha described the meeting as a symbolic and strategic initiative to strengthen ties with premium customers, particularly those in the industrial and commercial segments.

He outlined several ongoing network rehabilitation and upgrade projects targeted at improving power quality for high-demand customers while also revealing future plans, including embedded generation solutions and strategic energy partnerships, aimed at boosting reliability and service efficiency.

Nume Ekeghe

The Bank of Industry (BOI) has entered into a strategic partnership with Bumpa, a prominent digital platform, to empower 200 youth-owned Micro, Small, and Medium Enterprises (MSMEs) across Nigeria in this pilot phase. The collaboration, implemented under the Youth and Skills Thematic

Area of the Bank, aims to address the critical challenge of market access for young entrepreneurs by equipping them with the tools and training needed to manage their operations efficiently and boost productivity. It also seeks to drive innovation and enable these businesses to reach a broader customer base.

BOI in a statement noted that many MSMEs in Nigeria still rely on manual recordkeeping and offline selling methods, which limit their ability to scale and access credit. This partnership will also solve this problem by enabling youth-owned businesses to digitise their operations, manage sales and inventory, and connect with more customers, all through

Sunday Ehigiator

LAPO Microfinance Bank (LAPO MfB), one of Nigeria’s leading financial institutions promoting financial inclusion and community development, has joined the rest of the world to celebrate the 2025 Customer Service Week (CSW), themed

‘Mission: Possible’, reaffirming commitment to continuous excellent service delivery to its customers.

In a statement signed by the Director of Marketing and Communications, LAPO MfB, Oluremi Akande, he said “the week underscores our mission of providing

reliable, innovative, and customer-focused financial solutions that strengthen communities and promote financial inclusion.”

He emphasised the Bank’s unwavering commitment to prioritising its customers.

“LAPO MfB is human development institution,

their mobile phones.

In recognition of the critical role of MSMEs in job creation, the Bank will be sponsoring a six-month free subscription to Bumpa’s suite of business management tools for selectedparticipants. These tools will support the digitisation of operations, enhance sales performance, and drive sustainable growth for MSMEs.

excellent customers service is at the heart of our mission. Customer Service Week offers us an opportunity not only to celebrate our staff who work tirelessly to deliver exceptional service but also to appreciate our customers who continue to trust us as their financial partner of choice,” he said.

Kemi Olaitan in Ibadan

As Global Port Leaders Endorse Dantsoho as IAPH VP

Last week in Kobe, Japan, global port leaders endorsed the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho as as Vice-President of the International Association for Ports & Harbours, a testament to his stelar performance since his appointment as NPA boss by president Bola Tinubu, writes Eromosele Abiodun

At the just concluded World Ports Conference in Kobe-Japan, Port professionals drawn from 64 Countries endorsed the election of the Managing Director Nigerian Ports Authority (NPA) Dr. Abubakar Dantsoho as Vice-President of the International Association for Ports & Harbours (IAPH).

Coming on the heels of the administration of President Bola Ahmed Tinubu’s approval of the National Policy on Marine & Blue Economy, Dantsoho’s election as Vice-President of the IAPH is a testament of Nigeria’s growing influence in the comity of Maritime nations.

IAPH is a non-governmental organisation (NGO) headquartered in Tokyo, Japan. In November 1955, some 100 world port leaders gathered in Los Angeles to announce the creation of IAPH. Over the past six decades, IAPH has developed into a global alliance of ports, representing today some 190 ports and 167 port-related businesses in 89 countries as of 6 December 2024. The member ports together handle well over 60 per cent of the world’s sea-borne trade and over 60 per cent of the world container traffic.

IAPH aims to be the global trade association of choice for port authorities and operators, representing their interests at regulatory level at the International Maritime Organisation, the World Customs Organisation (WCO), the International Standards Organisation (ISO) and other global alliances such as the Global Maritime Forum and the World Economic Forum.

IAPH has consultative status and works on behalf of ports with additional United Nations bodies such as the United Nation Conference on Trade and Development (UNCTAD), United Nation Environment Program (UNEP) and the United Nations’ Global Compact.

Agenda for African Port Growth

Against the backdrop of his inauguration as Vice President (Africa) of the International Association of Ports and Harbours, Dantsoho outlined his key priorities for advancing port development across the continent.

Speaking after his inauguration at the recently

concluded World Ports Conference, themed “Reinvention and Prosperity in Turbulent Times”, Dantsoho said his focus will be on effective policy implementation, enhanced collaboration, strengthened cooperation, and improved trade facilitation within Africa’s port sector.

African ports, he noted, play a critical role in global trade but face challenges such as; infrastructure deficits, policy inconsistency, and limited technological adoption.

However, the NPA MD said unified action among African port authorities and stakeholders to address challenges facing African ports would be central to his leadership agenda at the IAPH.

According to him, his administration, through the deployment of port innovativeness will capture tangible, sustainable investment returns in high-risk environments.

“This responsibility has fired up my resolve more than ever before to be the vanguard of galvanising national and regional policy action steps geared towards institutionalising ports’ ecofriendliness in line with the dictates of IAPH’s World Ports Sustainability Program.

“Reinvention and prosperity in turbulent times through the deployment of port innovativeness to capture tangible, sustainable investment returns in highrisk environments is a global exigency that the world can most efficiently surmount if IAPH members speak with one voice through renewed collaboration and cooperation,” he said.

The NPA boss further stated that he will champion full automation of African ports to eliminate trade barriers.

“I intend to deploy my current role as President of the Pan-African Association for Port Cooperation (PAPC) to more intentionally promote collaboration and cooperation. Cognisant of the catalytic role of automation as the linchpin of ports’ efficiency and sustainability, I intend to infuse greater action behind the necessity of full automation of African Ports as the most veritable

tool for elimination of barriers to trade,” he concluded.

Efficiency, Trade Facilitation

Dantsoho said that the ongoing ports reconstruction across Africa will engender efficiency, trade facilitation and revolutionise the industry in the continent.

According to him, “Now, for those of us from Africa, we are normally identified as the new frontier because of the great potentials of our continent.

The continent of Africa has a population of about 1.5 billion people. In terms of coastline, we have about 34,000 km of coastline. Unfortunately, in the area of infrastructure and the port system, we have been falling behind. And now we have realised that it is important to do a lot of catching up very quickly.

“I want to say that it is interesting to observe that most of the ports in Africa now are putting a lot of funding into port infrastructure. For example, we have the Simado project in Guinea Conakry, which is going for about $11 billion. We have projects like that in Morocco, $2.5 billion and Nigeria, $1.5 billion to develop this infrastructure. This is a game changer for us.

He added, “For us, I think that is the most important step to take because the infrastructure has been very old. So we need to have this new one so we can accommodate all kinds of capabilities to the specific diversions. In any case, not only having the capability to receive the diversions for Africa is important, I think it is also important to have the efficiency to be able to also receive medium-sized and even smaller services.”

Outlining is agenda as IAPH Vice President, he said, “Your Excellences, very distinguished Ladies and Gentlemen, I count it a great privilege and a good fortune to be part of the noble cause that being inaugurated as VP IAPH for Africa means to me. I am poised with the support of my highly respected colleagues to contribute to advancement of the fortunes of global trade as follows:

Policy Implementation; this responsibility has fired up my resolve more than ever before, to be vanguard of galvanizing national and regional policy action steps geared towards institutionalizing ports eco-friendliness in line with the dictates of IAPH’s World Ports Sustainability Program.

“Renewed Collaboration & Cooperation: “Reinvention and Prosperity in Turbulent Times” through the deployment of port innovativeness to capture tangible, sustainable investment returns in high-risk environments is a global exigency that the world can most efficiently surmount if IAPH members speak with one voice through renewed collaboration and cooperation.

“Trade Facilitation; Cognisant of the catalytic role of automation as the linchpin of ports efficiency and sustainability, I intend to infuse greater action behind the necessity of full automation of African Ports as the most veritable tool for elimination of barrier to trade.”

He added that he intends to deploy my current role as President of the Pan-African Association for Port Cooperation (PAPC) to more intentionally promote collaboration and cooperation.

On the need for investment more in technology, he said, “So we are seeing that in the way we are approaching improvements in the area of technology. For example, a majority of the ports in Africa, especially in West Africa now, have capabilities in the area of profitability systems.

“So these are processes or approaches that we are going to continue to improve upon. And then we have realised that these are also capital-intensive projects that cannot be done by individual countries. So we are going to continue to promote collaboration, partnership, and then especially we are going to also do a lot in the area of trust and relationship with advanced economies so that they can feel the comfort and the assurance of community-based outcomes.”

He applauded the Minister of Marine and Blue Economy, Adegboyega Oyetola for his drive and vision for the blue economy.

He acknowledge that without the ministers’ support the achievements he has recorded so far would not have been possible.

L-R: CEO Hamburg Port Authority and President International Association for Ports & Harbours (IAPH), Jen Meier; CEO Nigerian Ports Authority (NPA) and Vice-President (Africa) IAPH, Dr. Abubakar Dantsoho and Managing Director, IAPH, Dr. Patrick Verhoeven at the just concluded World Ports Conference in Kobe, Japan.

Expert Highlights Ways Nigerians can Access Crypto, Others

Kayode Tokede

Crypto expert and CEO at Bitget, Gracy Chen has revealed that Nigerians can now access crypto, tokenised US stocks and Exchange Traded Funds (ETFs) in one place in many ways.

Currently, Nigeria’s trading community is among the most active in Africa, from young traders in Lagos to students in Abuja, as crypto has become a common language, now converging with traditional markets.

It is made possible through the bridge that refers to as Universal Exchange (UEX)

that brings crypto, US stock futures/ETFs, and more together in a single account and interface, that reduced the fragmentation.

In her words, Chen stated, “Nigerians can trade crypto and get exposure to US stock futures and ETFs on Bitget by depositing USDT or Naira (NGN) through trusted local channels P2P with GTBank, Access Bank, Zenith Bank, UBA, and leading fintechs like Opay, PalmPay, Momo, Kuda, Moniepoint, plus bank transfers, USSD, Flutterwave, Paystack, and more. Whether you prefer direct transfers, USSD, or mobile wallets,

funding a Bitget account in Nigeria is now familiar and local.”

“Begin with everyday amounts of few naira to build exposure over time without the legacy hurdles of foreign brokerage setups, for the first time, crypto and tokenized US stocks/ETFs are live in one app, with one login and one dashboard aligned with the industry’s move toward integrated, user-friendly gateways, the chart discipline honed in forex and crypto translates directly to mega-cap names and broad-market ETFs,” she said.

APMTerminals Apapa Marks 440 Days Without LostTime Injury

APM Terminals Apapa has achieved a major safety milestone, recording 440 consecutive days without a Lost Time Injury (LTI) — a testament to the company’s strong commitment to ensuring a safe and secure work environment for all employees and port users.

The announcement was made by the Terminal Manager, APM Terminals Apapa, Steen Knudsen, during the celebration of the 2025 Global Safety Day held at the Lagos Port Complex, Apapa, on Thursday. Themed, “We Start with Safety”, this year’s observance underscored the company’s philosophy that safety is not merely a priority but a core value underpinning every operation.

Knudsen described the achievement as a significant demonstration of teamwork, discipline, and a strong safety culture that permeates every aspect of operations at the terminal.

“At APM Terminals, safety is not something we talk about occasionally — it is the foundation of everything we do,” Knudsen said. “Achieving 440 days without a Lost Time Injury reflects the dedication and vigilance of our workforce. We must continue to stay alert, remain curious about our environment, and ensure that every task begins and ends with safety.”

He explained that the Global Safety Day theme

reflects APM Terminals’ enduring commitment to its people, customers, and partners across the logistics chain.

Also speaking at the event, Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, reaffirmed that safety remains the company’s most important value — both within and beyond the terminal gates.

“Safety is at the heart of our operations,” Klinke said. “It is how we care for one another, how we protect our customers’ cargo, and how we build a sustainable future. We want safety to be more than a checklist; we want it to be a conversation — one that continues every day among our colleagues and across the port community.”

Students to Vie for N22.5m UBA Foundation NEC Prize

UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has announced that the winners of the 2025 edition of the annual National Essay Competition (NEC) will receive educational grants worth over N22.5 million to study at any African university of their choice.

This year, the firstprize winner will receive N10 million university grant, which represents a substantial 33% increase up from the N7.5 million awarded last year. The second and third-place winners will each receive N7.5 million and N5 million educational grants, respectively, up from the N5 million and N3.5 million awarded last year.

Apart from the cash prizes, the writers of the 12 best essays will go home with brand-new laptops and other educational tools to help them prepare towards their tertiary research work and other studies.

The Managing Director/

CEO, UBA Foundation, Bola Atta, who spoke on the opportunities the competition offers to students, emphasised why the foundation has continues to invest in the initiative.

“The deliberate and significant increase in the value of these educational grants underscores our

dedication to investing in academic excellence and alleviating the financial burden of higher education for Nigerian students and their families. We are confident that this will further inspire a culture of academic achievement and critical thinking,” she explained.

Access Bank Flags Off 7th Edition of ‘W’ Health Month

Nume Ekeghe

Access Bank Plc has launched the seventh edition of its flagship women’s wellness campaign, ‘W’ Health Month, under its Women Banking initiative, reaffirming its commitment to advancing women’s health and wellbeing across Africa.

In a statement, Group Head, Women Banking at Access Bank, Nene KunleOgunlusi, explained that the initiative continues to evolve in response to the most pressing health challenges faced by women, while also providing practical support and preventive care.

“The 2025 edition of W Health Month will spotlight maternal and preventive health, with particular focus on raising awareness around fibroids, cancer, and maternal nutrition. One of the key highlights will be the Physical Health Screening Event scheduled for October 9, 2025, at Onikan General Hospital in Lagos.

“We are also providing W Care Packs containing essential items for women and babies, in partnership with The Milk Booster further demonstrating our commitment to supporting women at every stage of their health journey,” she said.

Saharan Blend (Algeria), Djeno (Congo),

(Gabon), Iran Heavy (Islamic Republic

Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Chief Executive Officer, APM Terminals Nigeria, Frederik Klinke (sixth from right); PresidentGeneral, Maritime Workers Union of Nigeria, Comrade Francis Bunu Abi (seventh from right); Chairman, Apapa Local Government, Hon. Idowu Senbanjo (middle); Terminal Manager, APM Terminals Apapa, Steen Knudsen (seventh from left) and others during the celebration of APM Terminals’ 2025 Global Safety Day at the Lagos Port Complex, Apapa...recently

Stock Market Returns South on Cautious Trading Activities

Kayode Tokede

The Nigerian stock market yesterday closed negative with a decline of 0.004 per cent on cautious trading activities by investors.

Specifically, the Nigerian Exchange Limited AllShare Index (NGX ASI) depreciated by 6.27 basis

points, or 0.004 per cent to close at 147,710.96 basis points from 147,717.23 basis points, with the Monthto-Date and Year-to-Date returns holding firm at +3.5per cent and +43.5per cent, respectively.

Also, market capitalisation lost N3.99 billion to close at N 93.757 trillion from N93.760 trillion it opened

for trading. Sectoral performance was mixed as the NGX Insurance appreciated by one per cent , NGX Industrial Goods gaiined 0.3per cent, and NGX Consumer Goods advanced by 0.1per cent, while the NGX Banking index dipped by 0.4per cebt and NGX Oil & Gas declined by 0.1per cent.

Also, market sentiment was bearish, with 36 declining stocks outnumbering 23 gainers. Regency Alliance Insurance recorded the highest price gain of 8.82 per cent to close at N1.48, per share. Prestige Assurance followed with a gain of 6.71 per cent to close at N1.75, while

Wapic Insurance up by 6.45 per cent to close at N3.30, per share.

Legend Internet rose by 5.45 per cent to close at N5.80, while CWG appreciated by 4.74 per cent to close at N18.8, per share.

On the other hand, Austin Laz & Company led the losers’ chart by 7.94 per cent to close at

N2.90, while Deap Capital Management & Trust and Fidson Healthcare followed with a decline of 6.67 per cent each to close at N1.68 and N40.60, per share.

Caverton Offshore Support Group depreciated by 6.35 per cent to close at N6.49, while Berger Paints declined by 5.92 per cent to close at N36.55, per share.

PRICES FOR SECURITIES TRADED ASOF OCTOBER /14/25

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

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

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

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 09 October 2025, unless otherwise stated.

Offer price:

Ladipo: How Our 60-Year Journey Reflects Quality, Innovation, Service to Education

as academy Press Plc celebrates its 60th anniversary, the Managing director, Olugbenga Ladipo, reflects on the company’s legacy in supporting nigeria’s education sector through quality printing and publishing. In this interview with Funmi Ogundare, he discusses the firm’s journey, its role in producing educational materials, commitment to innovation, and plans to strengthen local capacity for the future. excerpts:

What does this 60th anniversary mean to you, and how do you reflect on your organisation’s journey since its establishment in 1965?

Sixty years is a milestone of celebration and of gratitude. We thank God for surviving and still standing strong. We owe thanks to stakeholders, staff, loved ones, and everyone who has contributed. The journey has been that of challenges and triumphs. Though there were many hurdles, there have also been accomplishments and milestones year by year. We remember those who had the initial vision, who laid firm foundations upon which others, like myself, have built.

What foundations did the founding fathers establish, and how have these influenced the values, culture, and evolution of Academy Press?

Our founders shared a rare mindset. They were not driven by personal wealth, but by a conviction to benefit society and to build an organisation of repute. They envisaged a printing company of world-class standard, not merely local. That vision shaped everything: our values of quality, integrity, resilience; our culture of international competitiveness; and our refusal to limit ourselves to the local scene. These traits remain central to who we are, even now.

Looking back, what do you consider the most significant achievements of your organisation in terms of growth and standing in the industry?

We have consistently maintained printing excellence, and our quality and products speak for us. Our turning points have included the landmark anniversaries: 25, 40, 50, and now 60. Each marking shows visible growth and endurance when many competitors have not lasted. Financially, our turnover has grown from modest beginnings to well in excess of ₦4 billion since 2006. Technologically, we began with one

or two machines, many of which are now obsolete. Today, we have continued to modernise, acquiring some of the first equipment of its kind in Africa or Nigeria. Our staff are trained to high standards; many alumni of Academy Press have gone on to lead in other organisations. This institutional strength is a core differentiator.

What are the most exciting upcoming projects or partnerships that Academy Press is exploring as part of its future strategy? What should stakeholders look forward to?

At Academy Press, we refer to our customers not just as clients but as partners, and that includes the broader society that consumes our products. These relationships are central to our strategy moving forward. We have a number of investment-driven projects in the pipeline, and we plan to deepen

our partnerships across various sectors to bring these to fruition. Our commitment remains steadfast to deliver quality service and protect the interests of our stakeholders, not only for our benefit, but for theirs as well. Our various diversification agenda in backward integration for input materials will be a game changer. More important, the expansion of our light packaging and label line to become a full-fledged venture. Our customers will have a one-stop shop for their printing and packaging needs as a consequence. For our financiers and banking partners, we greatly value the confidence they’ve placed in us, and we are committed to preserving that trust as we expand. We’re counting on their continued support for our upcoming projects.

A key area of focus is in educational publishing, particularly in the printing of evaluation books and textbooks for schools. We are encouraging publishers, especially those who currently print abroad, to place their confidence in us. We want them to know that Academy Press has the capacity, expertise, and quality standards to match and even exceed what is available internationally. We are also committed to continual modernisation and capacity building, and we actively keep our partners informed about these upgrades. This transparency helps them see firsthand that partnering with us is not only viable but beneficial for their long-term goals. Our vision for the future is a stronger, more self-reliant printing industry in Nigeria, and we are proud to be at the forefront of that transformation.

As customer expectations, market demands, and technology shift, how has Academy Press adapted to stay competitive and forward-looking?

To remain world-class, we must keep pace with change. Whenever new technologies emerge, we adopt them quickly, and often we lead in introducing innovations and designs that we have observed internationally. We also anticipate customer preferences. Loyalty comes when clients see we are not merely responsive

but proactive. By doing so, we ensure our service remains relevant and of high value.

What sets your organisation apart in Nigeria’s printing sector, and how do you envision the company in the next five to 10 years?

We are distinct in our capacity and scale. We manage both low-volume and very highvolume projects from daily jobs to massive orders like examinations, census materials, or large educational contracts. We handle orders other presses cannot. Looking ahead, we’ll continue investing in equipment, expanding capacity, and deepening partnerships, especially with educational publishers. We want clients who go abroad for printing to know they can get equal or better quality here. Our strategy is modernisation, local capacity building, and maintaining international-standard delivery.

What key challenges does the printing and publishing sector currently face, and how is Academy Press positioned to address them?

The challenges are many: dependency on imports, raw materials (paper and inks), equipment, and spare parts are often not locally produced, so we face forex volatility and supply-chain issues. Tariffs and competition mean that input materials are taxed, while finished imported books often are not, giving foreign competitors a price advantage. There are also skills gaps that have made practical, industry-specific training scarce, so we had to invest in in-house training and send staff abroad to fill those gaps. To address these, we built internal engineering capability for maintenance and fabrication, upgraded machinery, trained personnel rigorously, and adjusted margins where possible to remain competitive. Though the environment is tough, we strive continuously to find sustainable solutions.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Promasidor ‘Harness Your Dream’ Initiative Guides Students on Career Choices

Uchechukwu Nnaike

Promasidor Nigeria has reaffirmed its commitment to education and youth empowerment through its flagship career guidance initiative, ‘Harness Your Dream’, held recently in Lagos.

The programme, designed to help junior secondary school students make informed career choices, brought together educators, government officials, and industry leaders for a day of mentorship, motivation, and interaction.

Representing the wife of the Lagos governor, Dr. Ibijoke Sanwo-Olu, Mrs. Anike Adekanye, former Tutor General and Permanent Secretary of Education District II, commended Promasidor for sustaining a transformational initiative that aligns with the state government’s vision for youth empowerment and educational excellence.

“Success begins with a dream, but it is sustained by discipline, hard work, and the right values. The mentorship you receive today is about discovering who you are, understanding

your purpose, and believing that you can achieve greatness regardless of your background,” she told the students.

She urged them to stay focused and committed to continuous learning, emphasizing that “the choices you make today are the seeds of the future you will harvest tomorrow”.

The Chief Executive Officer, Promasidor Nigeria, Mr. François Gillet, highlighted the company’s belief in education as a catalyst for social and economic progress.

“Beyond being a leading food and beverage company, Promasidor is deeply committed to supporting our communities,” he said. “Through Harness Your Dream, we aim to help young people find clarity and confidence to pursue careers that align with their passions.”

Gillet added that Promasidor’s impact extends beyond its brands to

educational and agricultural empowerment programmes such as Cowbellpedia and Ikun Milk Day.

“Dreams find their wings when guided by wisdom, discipline, and the right direction, and that’s exactly what Harness Your Dream stands for,” he explained.

The Head of Regulatory and Government Affairs at Promasidor Nigeria, Dr. Chinenyem Obasi-Obonga, said that the initiative aligns with UN Sustainable Development Goal 4 (Quality Education) and the Lagos State THEMES+ Agenda on Education and Technology.

“We are here to motivate, mentor, and inspire our young leaders to make smart career decisions. Our goal is to bridge the gap between what students learn in school and who they aspire to become. With the right guidance, every dream is achievable,” she said.

The Chairman of the Isolo Local Council Development Area, Otunba Adebayo Olasoju, shared his personal experiences and growth

trajectory with the students. He advised them never to let their background or circumstances limit their imagination or aspirations, stressing that no dream is too big or too small to achieve.

The event was interactive, as students engaged actively with facilitators who shared personal stories to illustrate perseverance, purpose, and ambition. The facilitators, who are senior executives from Promasidor: Mr. Olabisi Ajeyomi, Head of Sales and Operations Planning; Mrs. Arike Nwachukwu, National Key Account Manager; and Mr. Chukwunonso Udeh, Performance and People Services Specialist, provided career mentoring and counselling, encouraging students to “keep the big picture in mind” as they plan their futures.

The programme also featured two external facilitators, Dr. Nimi Ekere, a consultant family physician and child and adolescent advocate, and Dr. Adaora Obiagwu, a consultant community and public health expert, adding different dimensions to the mentoring sessions.

Excitement as Igbobi College Wins Champ High School Quiz

Raheem Akingbolu

By winning the maiden edition of the Champ High School quiz, Igbobi College, Lagos, and the organisers, the JustMedia team, have together demonstrated to the younger generation in Nigeria that education is not a scam after all.

The Champ High School quiz competition was a closely contested quiz war among premier high schools in the country.

The competition, which began with 32

schools, recently concluded in Lagos, where Igbobi College emerged as the winner, clinching the trophy.

The competition, which began as an online test in English, Mathematics, and History, reduced the number of participating schools to eight.

Premier schools like CMS Grammar School, Lagos; Igbobi College, Lagos; Queen’s School, Ibadan; St. Gregory’s College, Lagos; Oriwu Model College,

Ikorodu; Olivet Baptist High School, Oyo; Baptist Academy, Lagos; and Wesley College, Ibadan, moved to the second stage of the competition that went live on television.

The Champ High School quiz, specifically organised among iconic pre-independence schools, was the brainchild of four alumni from some premier high schools in Nigeria.

The competition was organised to send a strong signal to the young generation who had erroneously concluded that “education

is scam”, while the ancient axiom remains “education is the best legacy”.

Founded in 1932, Igbobi College, Lagos, was represented at the competition by Olabode Obaloluwa, Okoronkwo David, and Luke-Ahize Somtochuckwu.

The Igbobi team not only beat the CMS Grammar School, Lagos, to emerge the overall winner, but also took home the star prize of N1 million and a glittering trophy for the school.

Ladipo

Foreign Desk

Fragile Peace, High-stakes Gamble: How Trump-brokered Pact Ended Gaza War

After months of bombardment, displacement, and unrelenting human loss, fragile calm returned to Gaza on Monday, as the guns have hopefully finally fallen silent in a region long defined by recurring violence. Emmanuel Addeh writes that beneath the public declarations and handshakes, the Donald Trump-brokered deal will test the durability of new alliances, the sincerity of political pledges, and the world’s resolve to move from ceasefire to genuine peace.

On Monday, the final living hostages walked free and world leaders gathered on a stage in Sharm el-Sheikh. The headlines called it an end to the Gaza war. Families reunited, delegates applauding, and leaders promising a new order of security and governance in Gaza.

Beneath the ceremony, however, were tangled bargains, unresolved political fault lines and a cast of regional actors whose interests will determine whether the deal will remain a durable settlement or a temporary truce.

The Deal

At its core, the agreement signed in Egypt on October 13, established a multi-stage ceasefire, coordinated prisoner exchanges, and a roadmap for limited governance and humanitarian access in Gaza. It committed Hamas to hand over remaining living hostages and to cede administrative control of civilian institutions to an interim Palestinian technocratic authority, while stopping short of disarming the group fully.

Israel pledged phased withdrawals of some forces, the release of thousands of Palestinian detainees, and permission for significantly expanded humanitarian corridors into the Gaza Strip. Crucially, the pact included a set of security guarantees, outside monitoring and a promise by a coalition of regional states and international agencies to support reconstruction and stabilization efforts.

The text combined concrete operational steps, including lists of hostages and prisoners, timelines, and logistical arrangements for transfer and medical checks, but with vague political commitments around postwar governance.

In practice that meant the deal traded clarity on immediate humanitarian and human-security outcomes for ambiguity about long-term political questions: whether Gaza would remain under Hamas influence, who would provide lasting security, and the shape of Palestinian political representation going forward. Those unresolved items are the fault lines that many warn could reopen the conflict if not addressed.

But Israeli Prime Minister Benjamin Netanyahu told lawmakers in the Knesset that he’s “committed to this peace”. “Today, the Jewish calendar marks the end of two years of war,” he said.

Trump Factor

Donald Trump’s reappearance as a key mediator surprised many seasoned regional diplomats, but in the weeks before the Sharm el-Sheikh summit he had been intensively engaged in shuttle diplomacy, convening Arab leaders, coordinating with Israeli officials and working with mediators in Cairo and Doha to produce a workable exchange mechanism.

Trump framed the initiative as a personal achievement and as an extension of the Abraham Accords diplomacy he championed in his earlier

term, arguing that a deal that secured hostages and opened a pathway to broader regional normalisation was both a humanitarian and geopolitical victory. His public messaging, “a new beautiful day” was designed to emphasise rapid results and a decisive role for Washington in shaping outcomes.

That visibility had two effects. On one hand, Trump brought diplomatic energy and a set of partners willing to sign onto public guarantees. On the other hand, his unorthodox style and the perception of transactional, image-driven brokering created skepticism among diplomats who feared that headline deals risked papering over deeper political problems.

For Israel, Trump’s involvement offered both leverage and political cover; for many Arab states, public alignment with the deal allowed them to be seen as constructive mediators while

preserving diplomatic flexibility on sensitive issues such as recognition and the broader Palestinian question.

“A new and beautiful day is rising and now the rebuilding begins,” said Trump, praising regional leaders who helped cement the truce between Israel and Hamas.

Earlier, in his address to the Israeli parliament, the Knesset, the president told cheering lawmakers that “the long and painful nightmare is finally over”.

Israel released 250 Palestinian prisoners and more than 1,700 other Palestinians detained during the two-year military operations in Gaza in exchange for the last 20 living Israeli hostages held by Hamas.

Why It Mattered

The signing in Egypt drew a broad and unusual coalition. Egypt, Turkey and Qatar acted as immediate mediators, with Cairo as the traditional regional backstop and Doha as an interlocutor with Hamas. Gulf states, including the United Arab Emirates and Bahrain which had long-standing normalisation ties to Israel, lent political weight and pledged reconstruction aid.

Besides, Jordan and other Arab governments attended as guarantors of security arrangements and as stakeholders in any future Palestinian governance framework. European and international agencies offered monitoring and humanitarian assurances.

Israel and representatives of Palestinian factions, formally or indirectly, were the principal parties to the exchange, with commitments from multiple guarantors to monitor compliance and to support reconstruction. The joint presence of such diverse signatories conveyed a political seriousness that past informal understandings had lacked.

But the list of signees masked important absences and reservations. Some states insisted that their participation did not equate to recognition of any long-term political settlement, and several key regional powers remained cautious about endorsing terms that appeared to preserve Hamas’s military capacity. Russia, for instance, has a different regional posture and was uneasy about exclusion from the core negotiating table. Iran, as Hamas’s principal backer, publicly criticised the deal and warned against a settlement that would marginalise Palestinian demands. Those geopolitical divergences will shape implementation, since guarantors’ willingness to push hard on compliance depends on their own strategic priorities.

Hostage Releases, Human Stories

Israel released large numbers of Palestinian detainees and allowed the exit of thousands of Gazans from detention as part of reciprocal steps. The exchanges involved the release of nearly 2,000 Palestinian detainees in return for several dozen living hostages and the return of the remains of many others, details that sparked both relief and anger for those who saw the balance as too costly or too limited.

Behind those statistics were wrenching personal narratives. Families of released captives described long years of uncertainty, trauma and public campaigning. Some freed hostages appeared physically and psychologically fragile after prolonged captivity; others, including those rescued earlier by special operations, became public advocates for remaining detainees. For Palestinians, the released prisoners often

Trumpdisplayspeacedealwithhissignature

Fragile Peace, High-stakes Gamble: How Trump-brokered Pact Ended Gaza War

returned to scenes of celebration, but for Israelis who had lost loved ones the exchange deepened political debate about whether the concessions were justified.

Freed hostages have now reunited with their families in Israel and Palestine, following their release from captivity. The last 20 living hostages held by Hamas in Gaza are now back in Israel after more than two years in captivity.

Regional Guarantors

If the deal’s first phase focused on immediate humanitarian outcomes and security de-escalation, its second phase hinged on reconstruction and the shape of governance in Gaza. Arab states and international organizations pledged to finance reconstruction, re-establish civilian services and help rebuild an economy shattered by years of blockade and repeated conflicts.

Egypt’s role has been especially central. Cairo enforced buffer-zone security requirements, hosted talks, and promised to coordinate cross-border aid flows. Qatar retained influence by channeling funds and political outreach to Gaza’s local authorities.

The Gulf states offered money and technical support but were cautious about underwriting a long-term political arrangement that left Hamas’s military capability intact. European donors conditioned much of their assistance on safeguards against diversion of funds to rearmament and on clear, transparent administrative mechanisms.

Security Guarantees, Disarmament Question

Central to Israel’s acceptance of any pause in hostilities was the notion that Gaza could not remain a springboard for future attacks. The agreement therefore included language on demilitarised zones, weapons inspections and third-party monitoring.

In practice, however, disarmament proved the thorniest issue. Hamas agreed to cede administrative control but stopped short of unconditional disarmament; Israel insisted on verifiable processes to prevent re-armament. That asymmetry left a persistent gap: the deal provided mechanisms to monitor and report

comes next together with humility.”

Similarly, Italian Prime Minister Giorgia Meloni said Italy is now “closer to recognising the State of Palestine” after the Gaza agreement. “If the plan is implemented, Italy’s recognition of Palestine will certainly be closer,” she said in Sharm El-Sheikh.

Implementation Risks, Potential Spoilers

No agreement of this complexity survives without rigorous implementation. The most immediate risks were military flareups due to misunderstandings or localised violence; the slow and contentious process of prisoner-list verification; and disputes over the return of remains, which had already produced heated public reactions and deadlines.

Politically motivated provocations by hardline Israeli factions opposed to the deal, Palestinian militants unhappy with their perceived marginalisation, or external actors seeking to exploit divisions could quickly unravel fragile trust.

violations, but it relied heavily on the political will of guarantors to press for enforcement. Those enforcement mechanisms had realistic limits. Monitoring teams can observe and report, but without credible and unified pressure from regional guarantors, including those with leverage over Hamas, violations are difficult to deter. Moreover, clandestine rearming and local actor fragmentation complicate any straightforward verification.

Political Fallouts

In Israel, the agreement produced a sharp domestic debate. For some it represented the pragmatic recovery of hostages and a step towards ending a draining war that had cost thousands of lives and resources.

For others it was a capitulation: critics argued that releasing large numbers of prisoners and accepting an administration without explicit disarmament rewarded violence and endangered Israeli citizens. Political fallout included renewed scrutiny of Israel’s leadership and the security establishment and triggered protests from those who regarded the deal as an unacceptable compromise.

Among Palestinians there were equally mixed reactions. Many Gazans welcomed the easing of hostilities and the prospect of reconstruction and freed detainees. But rival Palestinian factions and activists questioned whether the deal structurally addressed the occupation, blockade, and the lack of sovereignty.

For many in the West Bank and among the diaspora the agreement felt partial: it improved immediate conditions in Gaza but did not tackle the larger question of Palestinian national rights, statehood and settlements.

Role of Outside Powers

The Sharm el-Sheikh deal crystallised a new pattern of great-power and regional competition.

The United States, through the Trump team, reasserted a very visible, personalised role in Middle East peacemaking. European states played supporting roles, primarily in humanitarian and donor coordination.

Turkey and Iran criticised or opposed elements of the agreement, seeing it as a US-led arrangement that did not address core Palestinian demands or Iran’s strategic interests. Russia watched and weighed opportunities to expand its influence where Western leverage waned.

Besides, the Gulf states’ involvement signaled an important shift: they were willing to be visible guarantors of a settlement even as they calibrated their steps on normalisation with Israel. Their participation effectively tied reconstruction finance to regional politics and to an incrementalist strategy for integrating Israel more broadly into the Arab world.

The calculus for each Gulf capital was distinct, balancing security concerns, domestic opinion and strategic rivalry with Iran making their long-term commitment less predictable than the ceremony in Sharm suggested.

World Leaders React

Egyptian President Abdel Fattah el Sisi co-chaired the summit alongside Trump and welcomed the accord as “a milestone that must be safeguarded.” Cairo said it would continue coordination with Qatar, Türkiye, and the US to ensure full implementation of the deal and facilitate the next phase of peacebuilding.

Cairo hailed the Sharm El-Sheikh Peace Summit, as consolidating “the path to peace” by supporting the 9 October Gaza agreement.

Also, Turkish President Recep Tayyip Erdogan joined the summit and signed the peace agreement in the Red Sea city of Sharm El-Sheikh. Turkish Parliament Speaker Numan Kurtulmus said Ankara’s “greatest wish” was for the bloodshed to end and a permanent ceasefire to take root.

In Qatar, Emir Sheikh Tamim bin Hamad Al Thani hailed the “positive results” of the Sharm El-Sheikh Peace Summit, saying it marked a new step toward unity and stability. “We hope the summit will serve as a launchpad for future understandings that meet the hopes of our brothers in Gaza,” he said on X.

French President Emmanuel Macron hailed the ceasefire as “a historic day for the hostages, their families, the Israeli people, and the Palestinian people,” urging the world to “prepare for what

The deal’s dependence on third-party guarantors compounded the problem: if any major guarantor wavered, the enforcement architecture could become toothless. This appeared to be the case yesterday when some Palestinians were killed.

Another risk lay in reconstruction itself. Aid diversion, corruption, or delays could fuel frustration and undermine the credibility of the international community. If humanitarian goods failed to reach intended recipients, or if rebuilding projects favoured certain factions, grievances would deepen.

In conflict-torn environments, poorly planned reconstruction can become a source of renewed instability rather than a foundation for peace.

What Next: Stabilisation or Relapse

The peace deal remains very fragile. There are several plausible trajectories. The optimistic path sees guarantors enforcing the agreement, reconstruction stabilizing daily life, and political processes gradually addressing governance so that Hamas’s political role is transformed into nonmilitary forms of influence. In that scenario, the deal becomes a stepping stone to a wider, if incremental, political settlement and possible expansions of Arab-Israel normalization that tie benefits to compliance.

A more pessimistic path involves partial implementation, localised violence and political erosion. Without credible disarmament or unified pressure from guarantors, clandestine rearming and intermittent attacks could restart a cycle of reprisals. Political stalemate over governance, the status of prisoners not included in initial lists, and the fate of Palestinian political aspirations could harden into long-term instability with recurrent violence.

Between those extremes is a protracted stalemate: Low-level stability punctuated by periodic crises, a humanitarian plateau but an unresolved political horizon.

Tradeoffs: Political Cost of Saving Lives

One of the most uncomfortable debates the agreement raised was moral. That is to what extent should a state trade large numbers of captive or detained persons for the return of living hostages? For many families, the question had a simple human answer: do everything possible to bring someone home.

For strategists and long-term planners, the calculus considered deterrence, future security costs and precedent. The deal forced societies to grapple with whether moral imperatives in crisis settings could or should be balanced against broader security concerns. That tension will continue to animate political deliberations and public discourse in Israel and beyond.

An Almost Impossible Deal

The Sharm el-Sheikh agreement achieved what seemed impossible to many: it secured the release of living hostages, allowed for massive prisoner exchanges, and created a multilateral architecture for rebuilding Gaza. Those are tangible accomplishments that reduced immediate human suffering and created an opening for stabilisation. Yet the pact’s long-term promise depends on followthrough: sustained donor commitments, credible monitoring, unified pressure on arms proliferation, and a political process that moves beyond crisis management to address Palestinian aspirations.

Freedhostagesunitewiththeirfamilies

OpEning RECEptiOn fOR nigERiAn MODERnisM ExhibitiOn, spOnsORED by ACCEss AnD

L-R: Chairman, Access Holdings and Coronation Group,Aigboje Aig-Imoukhuede CFR; Director, Tate Museums and Galleries. Maria Balshaw CBE; Chief Marketing and Communications Officer, Coronation Group, Ngozi Akinyele, and Chief Communications Officer, Access Holdings, Amaechi Okobi, at the Opening Reception for Nigerian Modernism Exhibition, sponsored by Access and Coronation, at Tate Modern, London, United Kingdom … recently.

At REA’s Renewables Forum, Shettima Says

$23bn Needed to Expand Nigeria’s Energy Access

Conference mobilises over $400m new investment in clean energy Nigeria targets over $10bn in renewables sector this decade

Deji Elumoye and Emmanuel Addeh in Abuja

Vice President Kashim Shettima yesterday disclosed that over $23 billion will be needed to expand Nigeria’s energy ac- cess and connect the millions of Nigerians who still live in energyShettima,poverty.who stated this in Abuja while declaring open the inaugural Nigerian Renewable Energy Innovation Forum (NREIF) 2025, submitted that as the world sails fast towards net zero, Nigeria and Africa must not be left behind.

Nigeria’s energy transition journey under the administration of President Bola Tinubu plans to unlock an investment opportunity of over $410 billion between now and 2060 to position the nation as the heartbeat of Africa’s renewable energy revolution.

“Nigeria’s energy transition is targeting an investment op- portunity of over $410 billion between now and 2060, with over $23 billion needed to expand energy access and

connect the millions of Nigerians who still live in energy poverty.

“But beyond access lies our grander ambition, which is to deliver a power system capable of 277 gigawatts of total installed capacity by 2060. This ambition demands more than investment; it demands innovation, local capacity, and commitment,” he said.

Shettima assured investors, development partners and other stakeholders at the forum of President Bola Tinubu’s commitment to consolidating policy foundations that would lead to a renewable energy market that is self-sustaining.

“We are enhancing incentives for local manufacturing, streamlining regulatory frameworks, and deepening collaboration with state governments, investors, and development partners to de-risk private capital and accelerate the emergence of a self-sustaining renewable energy market,” the vice president explained.

The ‘Nigeria First’ industrial strategy, he pointed out,

demands that the future of Africa’s renewable energy supply chains be anchored indigenously, just as he said, stressing that from solar panel assembly lines in Lagos to battery recycling hubs along industrial corridors, Nigeria must not only participate in this revolution but lead it.

He, however, noted that

efforts to prioritise energy transi- tion cannot succeed without the private sector, even as he called on development partners and Original Equip- ment Manufacturers (OEMs) to localise technologies, strengthen value chains, and invest in skills and knowledge transfer.

“We count on our state governments to champion

renewable industrial clusters and serve as engines of green growth across the federation,” he added.

The Vice President urged participants to reach agreements, forge partnerships and consolidate a national roadmap that would unfold the over $400 million investment in Nigeria’s renewable energy

manufacturing value chain into a reality.

“I am pleased to announce that through the engagements facilitated under this forum, more than $400 million in new investment commitments are being mobilised into Nigeria’s renewable energy manufacturing value chain.

Tinubu Unveils Soil Health Scheme to Address

Low Farm Yields, High Production Costs, Others

James Emejo in Abuja

President Bola Tinubu, yesterday, launched Nigerian Farmers Soil Health Scheme (NFSHS) to tackle low productivity of farmers and high production costs occasioned by indiscriminate fertiliser application and the associated waste.

The scheme aimed to promote tailored fertiliser

Father-in-Law Reveals He Begged

Buhari, Tinubu to Pardon Maryam Sanda

Ahmed Bello Isa: I have forgiven my daughter-in-law, I have no grievances against the federal government, family of Maryam Sanda, or any of their relatives

James Emejo in Abuja

In an unexpected turn of events, the biological father of the late Bilyaminu Bello, who was murdered by his wife, Maryam Sanda, in 2017, yesterday expressed his joy over the pardon of his daughter-in-law by President Bola Tinubu.

The development un- derscored an exceptional demonstration of forgiveness

and large-heartedness by Alhaji Ahmed Bello Isa.

Addressing a joint press conference in Abuja, alongside father of Maryam, Alhaji Garba Sanda, Isa said he had been on a quiet quest to secure freedom for Maryam, who had been on death row since her sentencing for the murder of her husband.

He explained that his motivation to forgive was

purely humanitarian, and he wanted his daughter-in- law released so she could look after her two young children. He said executing her will not bring back his son. Isa said as a devout Muslim, he had long ac- cepted the tragic incident, which had been a subject of public discussion, choosing to forgive and leave judge- ment to Allah.

recommendations based on specific crops and locations, helping farmers to achieve maximum yields and income, and as well as sustainable food security.

Tinubu was represented by Chairman, Senate Committee on Agriculture, Senator Saliu Mustapha.

Speaking at the unveiling of the scheme in Abuja, Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, said soil health was key to the country’s food securityAbdullahiagenda. said the scheme

was designed, developed incountry as part of the collective initiatives of the Renewed Hope Agenda of Tinubu. He said it represented a pioneering effort by the Federal Ministry of Agriculture and Food Security to enhance soil health and fertility through scientific soil assessments and data-driven fertiliser recommendations.

Abdullahi stated that the scheme fully aligned with the president’s vision of food sovereignty and the urgency to revolutionise the country’s agricultural sector and guarantee food security.

He stressed that NFSHS stood as a transformative initiative for the country’s food security.

According to him, the broad objectives of the scheme include improving soil health: enhanc- ing soil fertility and productivity through targeted fertiliser application and sustainable soil management practices; increasing crop yields: boosting agricultural productivity and food security as well as supporting climate-resilient agriculture; and fostering climate-smart and regenerative agricultural practices.

Tinubu Rejoices With EFCC Chairman, Ola Olukoyede At 56

Lauds his fight against corruption

Deji Elumoye in Abuja

President Bola Tinubu has felicitated the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Olanipekun Olu- koyede, on his 56th birthday anniversary on October 14, 2025.

The President, in a state-

ment issued on Tuesday by his Adviser on Information and Strategy, Bayo Onanuga, said Mr Olukoyede has dem- onstrated professionalism and courage in the discharge of his duties, reinforcing the EFCC’s mission to rid the nation of economic and financial crimes.

President Tinubu also acknowledged the EFCC

Chairman’s commitment to the fight against corruption, transparency in governance, and institutional reforms within Nigeria’s anti-graft framework. He specifically commended Olukoyede for setting up the special task force on currency offences, which is dedicated to fighting naira abuse and the dollarisation of the economy.

PUBLIC PRESENTATION OF TWO BOOKS BY DAKUKU PETERSIDE...

L-R: Representative of the Chief of

Dakuku’s Book Presentation: Hayatudeen Canvasses Clarity in Electoral Timetable

Calls for prompt registration of political associations

Adedayo Akinwale in Abuja

Former Managing Director of FSB International Bank Plc and former Peoples Democratic Party (PDP) presidential aspi- rant, Mohammed Hayatudeen, has called for substantial clarity in the electoral timetable and registration of political associa- tions that meet the criteria for

registration as political parties well ahead of time, so they do not suffer disadvantages by reason of late registration. Hayatudeen emphasised the need to learn from past tech- nological glitches and conduct future elections based on global best practices to ensure wise and informed decisions by the voting public.

Hayatudeen made the call on Tuesday in Abuja at the formal presentation of two books authored by former Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, titled, “Beneath the Surface,” and “Leading In A Storm.”

The former presidential

aspirant, who was Chairman of the occasion, commended Dakuku, saying the books are not just literary works, but instruments of national rebirth. He added the books challenged everyone to reflect, reimagine, and recommit to service, justice, accountability, and resilience.

Hayatudeen said Nigeria stood today at the cusp of a

NELFUND Seeks Traditional Rulers’ Backing to Expand Student Loan Access

Says over N107bn disbursed to 581,000 beneficiaries across 231 institutions

Sunday Ehigiator

Managing Director and Chief Executive Officer of Nige- rian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has called on Nigeria’s traditional rulers to partner the agency in deepening access to student loans and driving grassroots awareness about the government’s education financingSawyerrinitiative. made the appeal while addressing a National Executive Committee Meeting of National Council of Traditional Rulers of Nigeria (NCTRN), held recently in Lagos.

The meeting had the theme, “The Traditional Institution: The Imperative of Its Inclusion in the Effective and Efficient Governance in Nigeria.”

Describing the country’s monarchs as “the living history and heartbeat of the nation,” Sawyerr said the partnership of traditional leaders was essential to ensuring that no Nigerian child was denied education because of financial limitations.

He stated, “Your Majesties, you represent the bridge between our past, our present, and the future we must build together,” he said. “As we work to transform access to education

in Nigeria, we come first to seek your wisdom, your guidance, and your Highlightingblessing.” the progress made so far, the NELFUND boss revealed the agency had received 846,486 applications from students across the country, out of which 581,878 had already benefited.

According to him, 231 tertiary institutions have been fully on- boarded onto the NELFUND system, with the fund disbursing N107.68 billion since inception; comprising N46.35 billion in upkeep allowances to students and N61.33 billion in institutional fees paid directly to schools.

Supreme Court Strikes Out EFCC Appeal

Challenging Acquittal of Ex-NIMASA Official

Wale Igbintade

The Supreme Court has struck out an appeal filed by the Economic and Financial Crimes Commission (EFCC), effectively bringing to an end its attempt to overturn the acquittal of Dismass Alu Adoon, a former aide to ex-Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA),

Patrick Akpolobokemi.

The panel of the apex court was led by Justice Mohammed Lawal Garba, with Justices Chioma Egondu Nwosu-Iheme, Haruna Simon Tsammani, and Jamilu Yammama Tukur concurring with the decision.

In its ruling delivered on Sep- tember 25, 2025, in Appeal No. SC/ML/29/2025, the Supreme Court struck out the EFCC’s

motion after the prosecution formally withdrew it, holding that the case could not proceed anyThefurther. legal tussle originated at the Federal High Court, Lagos Division, which in 2019 convicted Adoon on multiple counts of conversion contrary to Section 15(1) of the Money Laundering (Prohibition Amend- ment) Act.

“These figures are more than just numbers,” Sawyerr said. “They represent lives transformed, dreams rekindled, and families given hope once again. But we know that our work has only just begun.”

He urged traditional rulers to use their influence to mobilise parents, students, and local insti- tutions to embrace the initiative, stating that their endorsement would lend legitimacy and trust to the programme.

major global transition, which would take a long time to resolve.

According to him, “As a nation and a continent, we can choose to lead from the front by actively participating in reshaping the contours of this emerging world, or we can choose to be bystanders and, hence, get our future written for us by other nations.

“It is my profound belief that we must seize this moment. Dr Peterside could not have done a better service to society by releasing ‘Leading in a Storm’ at this propitious moment in history.”

He said while the country had made undeniable progress, it also carried the weight of unfulfilledHayatudeenpromises.stated, “It is noteworthy that we marked 25 years of uninterrupted democratic governance in May 2025. Naturally, this is a good time to take stock. How well we have fared all these years is a function of the efficacy of leadership, governance, and institutions.”

He stressed the importance of state governance and the

need to bring trust back to the job of Hayatudeengovernance. also highlighted the role of the president, gov- ernor, and local government chairmen, stating that heads of local government areas must take the lead by setting a strong tone through their words and deeds.

He added that the leader needed to rebuild trust with the people by offering a credible and durable programme for revitalising and transforming society.

The former presidential aspirant said as the 2027 elec- tions approached, those seeking to contest should critique the record of incumbents, supported by evidence-based research, and provide a robust agenda or manifesto to convince the electorate of the superiority of their programmes vis-a-vis those of the incumbents.

Hayatudeen added, “As we march forward in this nascent democracy, there is a lot more we can do to strengthen governance and public institutions, without which this journey will be a road to nowhere.

Free HIV Testing, Treatment Available in 380 Health Facilities Nationwide, Says

As part of sustained efforts to achieve HIV epidemic control in Nigeria, the Institute of Hu- man Virology Nigeria (IHVN) has said that free HIV services, including testing, treatment, laboratory diagnosis, and prevention of mother-to-child transmission of HIV services for pregnant women are now available in 380 health facilities across the country.

It said that over 238,000

individuals currently receive anti-retroviral treatment in IHVN-supported health facilities.

A statement signed by the Senior Communications Manager at IHVN, Uzoma Florence Nwofor, said the Chief Executive Officer of the institute, Dr. Patrick Dakum listed places where health facilities are located to include; the Federal Capital Territory, Nasarawa, Katsina, and Rivers State.

He urged people living with HIV to adhere to their prescribed medications to maintain their health and combat AIDS in the country.

According to the statement, Dakum spoke in Abuja on Monday, emphasizing the importance of medication adherence and noting that free HIV services are available in over 380 health facilities while supporting across the Federal Capital Territory, Nasarawa, Katsina, and Rivers State.

Onyebuchi Ezigbo in Abuja

Defence Staff, Dr. Kigbu; Senator Daggash; Senator Lee Maeba; Boss Mustapha; Dr. and Mrs. Dakuku Peterside; Deputy Governor of Katsina State; Representatives of the Governors of Kano, Taraba, Akwa Ibom, and Ebonyi States; and Nasiru Danu (Chief Book Presenter), at the public presentation of two books by Dr. Dakuku Peterside in Abuja, yesterday

GlobAl CApitAl...

after a meeting at the Metropolitan Club, Washington DC, USA, recently

Alausa: ASUU Strike Uncalled For,

Union Reneged on Pledge to FG

House of Reps moves to intervene in face-off Govt streamlines admission requirements

The Minister of Education, Dr Tunji Alausa, yesterday maintained that the ongoing warning strike action by the Academic Staff of Nigerian Universities (ASUU) was totally uncalled for, stressing that despite the union leader- ship’s promise to revert to the government, it failed to keep to its Alausa,pledge.who spoke to THISDAY last night, stated that it was not a coincidence that since President’ Bola Tinubu took over the reins of power, there has not been a strike by the lecturers, attributing it to the continuous engagement of stakeholders by the government.

“That there has not been any strike in the last two academic years is not by coincidence. It’s due to the continuous proactive engagement of President Bola Tinubu’s government with ASUU, led by my humble self.

“Even ASUU leadership admits that it’s a different and changed environment. They admit I have been very supportive of their cause. This particular warning strike - there was no need for it. It is uncalled for,” Alausa told THISDAY.

He expressed disappoint- ment that despite the pledge by the leadership of ASUU to revert to the federal govern- ment to iron out the next stage in the negotiation, the union failed in their promise by unilaterally calling for a warning“ASUUstrike.said they were going to get back to the government, they never did. What do they really want? Are

they really interested in the tertiary education that they should be interested in. All across the world, universities, lecturers, have gone against many“Thestrikes. rank and file is disap- pointed in the Union’s position, I am disappointed ,one way or the other with the leadership of the union. This confrontational attitude did not work 60 years ago, is not working now and will never work. They should change their strategy. If they continue like this, they will lose their relevance,” the minister stated.

This government, Alausa said, has demonstrated leadership by resolving all these low hanging issues, explaining that across world, no university lecturer has gone on these many strikes like we have here.

He said that ASUU was interested in a different agenda, explaining that strike is not the way forward for the sector.

Also, the government, under the leadership of Tinubu, has said it is the taking decisive action to democratise access to tertiary education and empower Nigerian youths, a statement signed by the min- istry’s spokesperson, Boriowo Folasade, said yesterday.

To this end, comprehensive reform of admission entry requirements into all tertiary institutions across the country has been approved.

The policy, driven by Alausa, represents a bold step in advancing the Renewed Hope Agenda and promoting inclusive education for national development, the statement said.

Alausa explained that the reform has become neces-

sary after years of restricted access that left many qualified candidates unable to secure admission.

Every year, he said that over 2 million candidates sit for the Unified Tertiary Matriculation Examination (UTME), yet only about 700,000 gain admission. This imbalance, he notes, is not due to a lack of ability but rather to outdated and overly stringent entry requirements that must give way to fairness andTheopportunity. revised National Guidelines for Entry Requirements into Nigerian Tertiary Institu- tions, he said, are designed to remove barriers while maintaining academic standards. The new framework applies to universities, polytechnics, colleges of education, and In- novation Enterprise Academies (IEAs) across the country as follows:

“Universities: Minimum of five credit passes in relevant subjects, including English Language, obtained in not more than two sittings. Mathematics is mandatory for Science, Technology, and Social Science courses.

“Polytechnics (ND Level): Minimum of four credit passes in relevant subjects, including English Language for non-science courses and Mathematics for science-related programmes. Polytechnics (HND Level): Minimum of five (5) credit passes in relevant subjects, including English Language and Mathematics.

“Colleges of Education (NCE Level): Minimum of four credit passes in relevant subjects, with English Language mandatory for Arts and Social Science courses, and Mathematics required for Science, Vocational,

and Technical programmes. Colleges of Education (B.Ed Level): Minimum of five credit passes, including English Language and Mathematics, as applicable to the course of study.“Innovation Enterprise Academies (IEAs): To adopt the same minimum require- ments as Polytechnics for the National Diploma (ND) programme. The National Innovation Diploma (NID) is hereby abolished,” the ministry stated.

In addition, the National Industrial Diploma (NID) previously issued by Innova- tion Enterprise Academies will be phased out and replaced with the National Diploma (ND) to ensure uniformity, credibility, and progression opportunities for graduates, the statement added.

The National Board for Technical Education (NBTE) is currently re-accrediting all IEAs nationwide to align with the new ND standards. Institutions that fail to transition to full accreditation will be de-accredited.

The reform, the ministry said, is a deliberate effort to expand access to tertiary education, creating opportuni- ties for additional 250,000 to 300,000 additional students to be admitted to our Tertiary Institutions each year. It reflects a firm commitment to ensuring that every Nigerian youth has a fair chance to learn, grow, and succeed, putting the Renewed Hope Agenda into action.

The minister added that harmonising admission guidelines will help reduce the number of out-of-school youths, strengthen vocational and technical training, and align Nigeria’s tertiary educa- tion structure with global and industry standards.

He reiterated that young people remain the heartbeat of the nation, and the government is committed to equipping them with the education and skills they need to reach their full potential and contribute meaningfully to national development.

The federal government remains steadfast in its commitment to inclusive education,

human capital development, and youth empowerment in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu, the ministry added.

Meanwhile, the House of Representatives has mandated the Committees on University Education and Labour, Employment and Productivity to immediately intervene between the federal government and ASUUnover unresolved issues relating to the implementation of prior agreements.

The resolution of the House followed the adoption of a motion moved at the plenary on Tuesday by Hon. Sesi Whingan, Director, Press and Public Relations.

Moving the motion, Whin- gan expressed concern about the declaration of a two-week warning strike by ASUU over unresolved issues relating to the implementation of prior agreements with the federal government, particularly on revitalisation funding, earned academic allowances, salary structure, and university autonomy.

Wabara: We Warned Nigerians About APC’s One-Party State, Nigerians’ll Decide

Chuks okocha in Abuja

Former Senate President and Chairman, Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Senator Adolphus Wabara, has said the recent defections of PDP governors to the ruling All Progressives Congress (APC) have confirmed his earlier warning that the APC was pursuing an

agenda to turn Nigeria into a one-party state.

He, however, said in 2027, impoverished Nigerians would decide and not the governors Wabara was reacting to the defection of Governor Peter Mbah of Enugu State and the reported plans by Governor Douye Diri of Bayelsa State to join the APC, accused the ruling party of orchestrating

the wave of defections affecting opposition parties. Reiterating his earlier position that “a one-party state is a prelude to autocracy and retrogression,” he accused the APC of “stifling democracy” in HeNigeria.lamented that the democratic gains made under the PDP were being eroded under the current administration.

Emmanuel Addeh and Adedayo Akinwale in Abuja

L-R: David Marsh, Chairman, Official Monetary and Financial Institutions Forum (OMFIF), London, and Prof. Kingsley Moghalu, Member, Advisory Council, OMFIF and former Deputy Governor, Central Bank of Nigeria (CBN)

PUBLIC HEARING ORGANISED BY JOINT COMMITTEE ON ELECTORAL MATTERS...

L-R: Chairman, Senate Committee on Election Matters, Senator Simon Lalong; House Leader, Hon. Prof. Julius Ihonvbere, representing the Speaker of the House; and Senate Chief Whip, Senator Mohammed Monguno, representing the President of the Senate, during a Public Hearing organised by the Joint Committee on Electoral Matters on a Bill for an Act to repeal the Electoral Act No. 13, 2022, and enact the Electoral Act 2025, held in Abuja, yesterday

PDP Crisis: National Chair, Legal Adviser

Engage in Open Power Struggle in Court

Battle is over move to stop convention PDP postpones 103rd NEC meeting

Chuks Okocha in Abuja

The crisis of confidence rocking Peoples Democratic Party (PDP) took a new dimension yesterday at the Federal High Court in Abuja, as National Chairman of the party, Ambassador Umar Iliya Damagu, and National Legal Adviser, Kamaldeen Ajibade, openly disagreed in court. At the hearing of a suit seeking

to stop the planned National Convention of the party, instituted by three aggrieved members, Damagum and Ajibade battled for several minutes over who had the power to appoint a lawyer to represent the party.

While Damagum, who was physically present in court, in a letter he personally signed, mandated Chris Uche, SAN, to represent PDP in the legal action,

Ajibade, a Senior Advocate of Nigeria (SAN), insisted that he was the only authority that could appoint legal representation for PDP.

When the matter was called before Justice James Omotosho, Joseph Daudu, SAN, announced appearance for the three plaintiffs, namely, Hon. Austin Nwa- chukwu (Imo PDP chairman), Hon. Amah Abraham Nnanna

(Abia PDP chairman), and Turnah Alabh George (PDP Secretary, South-south).

Trouble, however, started when Uche, with more than five other SANs, announced their appearance for PDP, a move that was immediately countered by Ajibade, who also announced his appearance for the party.

In the drama that ensued, Uche informed Omotosho that

WIMBIZ 24th Annual Confab: Arunma Oteh, Hon. Justice Amina Augie, Olori Atuwatse III, Natalie Beinisch, Others to Speak

Ahead of the WIMBIZ 24th Annual Conference, Women in Management, Business, and Public Service (WIMBIZ) has confirmed that its highly anticipated Annual Conference, scheduled for November 6, 2025, at Eko Hotels & Suites in Lagos, will feature an inspiring keynote from Arunma Oteh, with Hon. Justice Amina Augie Rtd., Former Justice of the Supreme Court of Nigeria, serving as chairperson.

The hybrid event, themed “O.W.N: Own. Walk. Nurture.” is set to take place with both

Adamawa

virtual and physical attendance options, bringing together women from various sectors around the world in different countries like the United Kingdom, United States, Canada, Ghana, Cameroon, United Arab Emirates and lots more come together to engage in transformative dialogue and learning.Speaking during a press brief- ing recently in Lagos, Chairman, WIMBIZ Board of Trustees, Bisi Adeyemi, noted that the WIMBIZ Annual Conference is a call to action for all women to own their stories, as it is a show of strength and resilience

in their journey towards attaining leadershipExecutivepositions. Director, WIMBIZ, Omowunmi Akingbohungbe, underscored the significance of the conference, which remains the flagship event of the organisation.

In her remarks, she empha- sised WIMBIZ’s long-standing commitment to empowering women, particularly in leader- shipSheroles.highlighted that the conference has played a key role in inspiring over 344,335 women throughout its history.

On her part, Abimbola Wright, Chair, 2025 Conference Planning

Summit Concludes with Call for Collective Action, Sustained Development

Daji Sani in Yola

The Forward Adamawa Summit has ended with participants from various sectors of society gathering to chart a course for the state’s future development. The summit which featured keynote addresses, training sessions, and policy reflections, was aimed at sustaining the development gains of Gover-

nor Ahmadu Umaru Fintiri’s administration. The summit’s key resolutions include transforming the gains of the Fintiri administration into a mass movement of the people, initiating community ownership structures for public projects, and strengthening civic education, especially among youths and first-time voters.

The participants also resolved to mainstream women, youth, and persons living with special abilities in leadership, governance, and decision-making structures at all levels. Additionally, they called for the promotion of accountability and feedback mechanisms between government and citizens.

Group (CPG), confirmed that this year’s conference is a rallying call for women to OWN their story, voice, and space at the table, WALK in power, embody- ing courage and authenticity, NURTURE others, especially the next generation, through mentorship and collaboration.

According to Abimbola, this year’s theme, O.W.N – Own, Walk, Nurture, was chosen with deep reflection on the realities that women face today.

he had a letter from the PDP national chairman appointing him to represent the party in the suit. Ajibade replied that he was the sole authority vested with power by the PDP constitution to appoint legal representation for the party and cited some judgements to that effect.

Visibly taken aback by the development, Omotosho stood down the hearing of the matter for 10 minutes for the national chairman and the national legal adviser to go out of the court to put their house in order.

After the 10 minutes, the two parties reported that they were unable to reconcile on legal representation, prompting Uche to seek a short adjournment to enable Damagum and Ajibade to reconcile their differences. At this point, Daudu, who stood for the plaintiffs, pleaded with the judge to go ahead with the hearing of his client’s matter if, on the adjourned date, the two parties were unable to resolve their differences.

Omotosho subsequently fixed Thursday, October 16 for hearing of the matter.

At yesterday’s proceedings, Omotosho joined Damagum, Ali Odef, and Chief Emmanuel Ogidi as the 7th, 8th, and 9th defendants in the suit marked FHC/ABJ/CS/2120/2025. They were joined in two separate applications argued by their respective lawyers, Paul Erokoro and Audu Anuga, both SANs.

Erokoro, while arguing for Damagum’s joining, informed the court that he was a necessary party on account of his being National Chairman of PDP, Chairman of the National Working Committee (NWC), Chairman of the National Executive Committee (NEC), as well as Chairman of the convention committee. Anuga, in his submission on joinder for Ali Odef and Emmanuel Ogidi, informed the court that the two were officers of PDP, who would be affected one way or the other by the outcome of the case.

The joinders’ request was vehemently opposed by the counsel to the three plaintiffs, Daudu, who urged the court to discountenance the request.

Lagos Govt Starts Full Enforcement Against all Land Reclamation Projects Lacking EIA Approvals Tomorrow

The Lagos State Government on Tuesday announced that full enforcement action against all land reclamation projects without Environmental Impact Assessment (EIA) Approval and Drainage Clearance across the state would commence onThisWednesday. was disclosed in a public notice signed by the Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, who added that the commencement followed the expiration of a 7-Day ultimatum given by

the state government.

The statement added that the 7-DAY ultimatum came through public notices published in national newspapers on September 18th and 19th in the Punch and The Nation newspapers, respectively.

The statement informed: “This is to notify the general public, particularly individuals, developers and Corporate bodies engaging in unauthorized land reclamation and Waterfront encroachment that the grace period of SEVEN DAYS for compliance and cessation of

illegal reclamation activities as contained in our earlier public notices have since expired on 25th September, 2025.” This is in accordance with the provisions of the Lagos State Environmental Manage- ment and Protection Law 2017 and other extant regulations Actions to be taken to enforce the order without any further notice include the removal of all illegal reclamation structures and fillings without the Statutory EIA and Drainage Clearance Certificate.

PHoto: JuLIuS AtoI

Mary Nnah

Defection of BAuchi lAwmAker...

L-R: Lawmaker representing Bauchi North, Senator Samaila

(back row) and Deputy President of the Senate, Senator Barau I. Jubrin standing behind after the defection of the Bauchi lawmaker at the Senate Chamber, National Assembly Complex, Abuja …. yesterday

Senate Pressures FG to Rescue Nigerian Women, Children Held in Libyan Prisons

Demands swift repatriation, crackdown on trafficking rings

Sunday Aborisade in Abuja

The senate has urged the federal government to im- mediately begin diplomatic and humanitarian interventions to rescue and repatriate hundreds of Nigerian women and children languishing in Libyan prisons.

The upper chamber’s resolution followed a motion sponsored by Senator Aniekan Etim Bassey (APC, Akwa Ibom South), who drew attention to the harrowing experiences of Nigerians trapped in Libya’s detention centres, many victims of trafficking, slavery, and abuse.

Senator Natasha Akpoti- Uduaghan (Kogi Central) moved an additional motion mandating the Nigerian Im- migration Service and the Nigerian Correctional Service to work with Libyan authori- ties to fast-track the release of Nigerian female inmates and their children born in detention.

Her motion, seconded by Senate Leader Opeyemi

expansion. The bank intends to strategically leverage the capital raised from the Market to enhance its scalability and deliver enhanced services to its valued customers.

Bamidele, received unanimous support.Akpoti-Uduaghan decried the plight of the women, most of whom, she said, had been deceived by traffickers promis- ing lucrative jobs abroad.

Instead, they were forced into prostitution or slave labour and later imprisoned by Libyan authorities after attempting to escape.

She said, “These women have suffered double victimisation, first at the hands of traffickers, and then through a system that criminalises their suffering.

“Many were sexually as- saulted in custody, resulting in pregnancies. Their children, born behind bars, are innocent victims of a cruel cycle of exploitation,” she lamented.

In his lead debate, Senator Bassey described the situation as a humanitarian tragedy demanding urgent attention.

He said Libya had become “a corridor of death and despair” for many Nigerians who risked irregular migration through the

The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023. Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World

North African country in search of greener pastures.

He cited recent data showing that about 1,000 Nigerians were repatriated from Libya in the first quarter of 2025 alone, many of whom recounted experiences of torture, rape, forced labour, and starvation.

According to Bassey, “One survivor, Mercy Olugbenga, sold her family’s property to fund her journey to Libya, only to be held captive for more than a year while her blood was repeatedly drained for sale.

“It is horrifying to realise that slavery still thrives in our modern world.”

The senate referenced reports by Amnesty International and the International Organization for Migration (IOM), which documented widespread hu- man rights violations in Libyan detention centres, ranging from sexual violence and arbitrary detention to extra-judicial kill- ings, often perpetrated by both state actors and armed militias. Following an intense debate, the senate adopted several far-reaching resolutions aimed at securing the release and rehabilitation of affected Nigerians.

At Meeting with Party Leaders, Acting INEC Chair Pledges to Address LP Matter

chuks okocha and Adedayo Akinwale in Abuja

Acting Chairman of Inde- pendent National Electoral Commission (INEC), Mrs May Agbamuche-Mbu, yesterday, met with the leadership of political parties in the country at a quarterly consultative meeting in Abuja.

Agbamuche-Mbu used the occasion to assure Labour Party (LP) that the commission would

Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades

look into the demand for the upload of the party’s candidates for the Federal Capital Territory (FCT) Area Council elections.

She gave the assurances to the national chairman of LP, Barrister Julius Abure.

Abure and the national secretary, Umar Farouk Ibrahim, were in attendance as the authentic and recognised leadership of LP.

Abure congratulated the acting chairman of INEC on

of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empower- ment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

her recent appointment.

A statement by the national publicity secretary, Obiora Ifoh, said, “In paying tribute to the acting chairman, the Labour Party chairman while appreciating her, stated that once lawyers are on the saddle of leadership. It reduces, and sometimes brings to an end impunity and injustice to the system.”

Ifoh said once lawyers were in the saddle institutions would be built and even democracy would continue to grow.

“This is exactly what has played out in the affairs of the party leadership,” the statement said.

The party appreciated the formal recognition of the leader- ship of Abure and commended INEC for obeying the court order.

Abure pleaded with the leadership of INEC to release the code for the upload of candidates for the FCT Area Council election.

“The party followed due process, issued notices to INEC, conducted primaries and the list is with the INEC. We, therefore, urge INEC to release the code to us so that we can upload our candidates and join in the ongoing campaign for the Area Council election,” he said.

The chairman believed that under her leadership, INEC would do better, perform better, creditably, effectively, consti- tutionally and in accordance with the rule of law, which no doubt would strengthen democracy and prepare the ground for better outcome in the 2027 general election.

The meeting was attended by all the national chairmen and national secretaries of the political parties, as well as the INEC commissioners.

Relatedly, Inter Party Ad- visory Council (IPAC) said Nigerians had high expectations that the new INEC would be well led by Professor Joash Amupitan.

President Bola Tinubu recently nominated Amupitan as the new INEC chairman after the expiration of the tenure of Professor Mahmood Yakubu. IPAC National Chairman, Dr. Yusuf Dantalle, called on the commission to justify the confidence the country reposed in it. Dantalle said this was the only way to rebuild trust in the electoral process and encourage mass participation in future Dantallepolls.spoke yesterday in Abuja during INEC’s quarterly consultative meeting with political parties.

Kaila; Leader of the Senate, Senator Opeyemi Bamidele; Deputy Leader of the Senate, Senator Oyelola Ashiru and Chairman, Senate Committee on Independent National Electoral Commission, Senator Sharafadeen Alli with President of the Senate, Senator Godswill Akpabio

COURTESY VISIT TO NIGERIA SOCIAL INSURANCE TRUST FUND...

L–R: Principal Manager, Corporate Affairs Department, NSITF, Dr. Emmanuel

Manager, Claims, Mrs. Nkiru Ogunnaike; General Manager, Compliance, Abduleet

Island,

Designate Stolen Minerals Resources International Crime, Tinubu Tells ECOWAS

Says N100bn recovered loot injected into education

Enumah in Abuja

President Bola Tinubu on Tuesday, charged the leadership of the Economic Community of West African States (ECOWAS), to designate the stealing of mineral resources from the region as an international crime. Besides, the president also called on global leaders to shun trade in stolen resources from

BolaTinubu applauded the news of Shell’s $2 billion FID). According to a statement issued by presidential spokesperson, Bayo Onanuga, the announce- ment brings total significant upstream investment commit- ments through Final Investment Decisions (FIDs) in Nigeria’s oil and gas sector to over $8 billion since Tinubu assumed office in 2023.

According to the statement, this underscores the success of the administration’s reform agenda and the renewed confidence of global investors. Tinubu reiterated his administration’s commitment to creating an enabling environment for Nigeria’s domestic and foreign investors.

“This major FID announce- ment by Shell, their second in one year, is a clear validation of our wide-ranging reform efforts and a signal to the world that Nigeria is fully open for business and investment”, the President said.

This investment decision, he said, is Nigeria’s third major oil and gas FID in the last 18 months, following the Ubeta Non-Associated Gas project and the Bonga North deepwater project.According to the presidential aide, it marks yet another milestone in Nigeria’s journey to unlock its abundant gas resources for domestic and export use, as the Ubeta and HI gas projects can supply up to 15 per cent of the NLNG’s total feedgas requirements, covering

West Africa. Tinubu made the call at the 2025 Annual General Assembly of the Network of Anti-corruption Institutions in West Africa (NACIWA), holding in Abuja. In a keynote address deliv- ered by the Secretary to the Government of the Federation (SGF), George Akume, the president, who observed that

Trains 1 to 7.

Since 2024, Tinubu, the statement said, has issued targeted directives as part of the industry reform, introducing unprecedented fiscal incentives, regulatory clarity, operating process simplification, cutting contracting costs, and reduc- ing approval cycle times, the statement said.

The three landmark FIDs— the HI and Ubeta gas projects, and Bonga North deepwater, it said, represent blueprint projects selected and unlocked by the federal government to drive the implementation of the presidential directives.

Special Adviser to Tinubu on Energy, Olu Arowolo Verheijen, said: “With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative.

Also, Lokpobiri said the government was pleased with the announcement by Shell Nigeria of an FID worth $2 billion for a new offshore project in Nigeria’s HI Field, located in Oil Mining Lease (OML) 144, approximately 50 kilometers offshore.

The significant investment, communicated to the minister by the Country Chair of Shell Nigeria, Mr. Marno de Jong, a statement by Lokpobiri’s spokesperson, Nneamaka Okafor, said, represents another major milestone in the nation’s ongoing efforts to strengthen its energy sector and boost production.

recovery of stolen assets is at the core of the region’s fight against corruption, lamented that West Africa’s post-independence economic and political trajectory has been blighted by corrup- tion manifest in the theft and stashing of countries’ resources abroad by corrupt officials.

“Even now, illicit outflows remain an odious miasma. Stealing of mineral resources

“The FID was taken out between Shell Nigeria Explora- tion and Production Company (SNEPCo) and Sunlink Energies Resources Limited, marking a strong demonstration of confidence in Nigeria’s oil and gas investment climate and the government’s commitment to driving sustainable energy growth,” the minister said.

Lokpobiri stated that this development was a direct outcome of the bold reforms and transformative policies implemented by the federal government, which continue to enhance investor confidence and attract substantial capital inflows into Nigeria’s oil and gas“Thisindustry. $2 billion investment reaffirms Nigeria’s position as a preferred destination for energy investment and highlights the value of collaboration between government and industry,” the Minister noted. We anticipate that more Final Investment Decisions from other investors will follow in the coming months as confidence in our sector continues to grow,” Lokpobiri stated.

He maintained that the government remains com- mitted to fostering an enabling environment for investment and ensuring that the benefits of such strategic partnerships translate into increased national prosperity, job creation, and sustainable energy development. Still in the oil sector, the Nigerian National Petroleum Company Limited (NNPC) has

is on the rise in the region, fuelling proliferation of small arms and light weapons and other violent crimes such as kidnapping and banditry. These have exacerbated our security challenges and worsened the development outlook of the region”, he said.

“I believe that the time has come for ECOWAS to designate resource theft (illegal mining

emphasised that forging strate- gic partnerships remains vital to unlocking value, achieving sustainability, and advancing commercialization within the nation’s downstream petroleum sector.

Group Chief Executive, Bayo Ojulari, who was represented by the Executive Vice President, Downstream, Mr. Mumuni Dagazau, disclosed this in an address during the 2025 Inaugural Annual Downstream Petroleum Week, organised by the House of Representatives Committee on Petroleum Resources (Downstream), yesterday.Describing Nigeria’s down- stream landscape as one shaped by transition, opportunity, and strategic reform, Ojulari stressed the importance of collaboration as a yardstick to a sustainable energy future, a statement by the NNPC spokesman, Andy Odeh said.

He noted that Africa’s energy demand is expected to grow significantly in the coming years, with Nigeria at the forefront. This, he said, calls for coordinated efforts and collective responsibility to harness emerging opportunities and ensure inclusive, long-term sectoral growth.

On the domestic front, he reaffirmed NNPC’s commitment to ensuring consistent fuel availability, competitive pricing, and uncompromising quality assurance across all its retail network nationwide.

“The opportunity to create a

and stealing of minerals in the region) as an international crime that threatens the stability of the region, and galvanizes the world against trade in stolen minerals from West Africa”, he added.

While stressing that no country can single handedly win the battle against illicit flows, he urged collaborations through a multi-state and

sustainable economy for today and the future is hinged on supply partnership, infrastructure co-investments, security partnerships, host community cooperation and operational alliance. Everyone needs to get involved in the activities that will ultimately create a sustainably promising future for Nigeria,” he said.

Ojulari also commended the National Assembly and the House of Representatives Com- mittee on Petroleum Resources (Downstream) for convening the strategic forum, assuring that as a commercial and national energy entity, NNPC Ltd., remains committed to fostering stakeholder engagement and advancing collaborative models for sector-wide growth.

The event, held at the National Assembly Complex, with the theme: “Celebrating Our Successes, Confronting Our Challenges, and Finding Solutions for the Petroleum Downstream Sector,” had in attendance downstream sector players and Meanwhile,legislators. the Nigerian Upstream Petroleum Regula- tory Commission (NUPRC), in keeping with its mandate to champion the decarbonisa- tion of Nigeria’s upstream oil & gas, has collaborated with the World Bank Group and other multilateral institutions to deepen the capacity of industry operators in methane abatement and emissions management.

This comes as the NUPRC and the World Bank have

multi-stakeholder platform like NACIWA to harness regional efforts against corruption and its manifestations. Meanwhile, the president told the gathering that his administration is committed to ensuring that recovered stolen asset becomes an enabler of growth and an instrument for social inclusion.

recommitted to boosting Nigeria’s decarbonisation drive.

The pledge was made at a three-day Measurement, Monitoring, Reporting, and Verification (MMRV) Capacity Building Programme organised by the NUPRC in partnership with the World Bank Group in Abuja.

The workshop, which drew over 70 participants, featured a broad cross-section of the upstream petroleum industry, including International Oil Com- panies, the NNPC, indigenous operators, and independents. The programme was designed to strengthen Nige- ria’s technical and regulatory capacity for effective emissions monitoring and management within the upstream oil and gas sector.

Speaking on behalf of the Commission Chief Executive, Gbenga Komolafe, the Executive Commissioner, Development and Production, Enorense Amadasu, stated that methane emissions account for a significant share of Nigeria’s upstream greenhouse gas footprint, mainly from flaring, venting, and fugitive sources. While recapping the three- day session, Joseph Ogunsola, the NUPRC’s Director, Energy Sustainability & Carbon Man- agement, re-emphasised the Commission’s unwavering com- mitment to aligning Nigeria’s upstream petroleum operations with international best practices in emissions management and carbon monetisation.

Ulayi; Manager, Claims, NSITF, Ucha Anthony Ogwuda; General Manager, Health, Safety and Environment, Mr. Tony Eke; General

Musa; Principal Manager, HSE, Bukola Aworasafe; Manager, Claims, NSITF, Emmanuel Njeni; and Regional Manager, Lagos

Akinyemi Idowu, during a condolence visit by the Nigeria Social Insurance Trust Fund (NSITF) to the dependents of deceased employees of United Capital Plc, held in Lagos on Monday

Alex

WIMBIZ 24th AnnuAl ConfErEnCE...

L-R: Executive Director of Women in Management, Business, and Public Service (WIMBIZ), Omowunmi Akingbohugbe; WIMBIZ Board of Trustees member, Rolake Akinkugbe-Filani; and Conference planning committee Chair, Bimbola Wright, during a recent press conference in Lagos to announce the WIMBIZ 24th Annual Conference, scheduled for November 6, 2025, at Eko Hotels & Suites in Lagos

Trump’s Peace Deal: Hamas Hands over Hostage Bodies to Israel

Over

67,000

Emmanuel Addeh in Abuja

Hamas handed over more bodies of deceased hostages after Israel threatened to reduce aid into Gaza on Tuesday and U.S. President Donald Trump threatened violence against the Palestinian militant group if it does not disarm.

A day after Trump spoke in Jerusalem, touting his

sentiment have made the APC the most formidable political family in Africa.

“This is why every progressive mind, every reformist, and every visionary, sooner or later, finds their path leading here. So, to you, Governor Peter Mbah, and your team, welcome home.

“In the APC, you have found an enduring family, an ally in your journey, and a party that recognises your worth.”

Observing that Mbah had always been a part of the APC fold, even before he joined the governing party, Shettima suggested rather jocularly that the governor might have been hiding a broom in his umbrella, the symbol of the opposition PDP.

Shettima stated, “Your Excellency, let me say this with warmth and humour: you have always been one of us. You are a progressive through and through. I am convinced that you had a broom hidden in your umbrella all these years, waiting for the right moment to bring it out.

“And now that you have chosen the right time to come home, we are not bitter that you are joining us today, we are overjoyed that you are here to strengthen our party and add your voice to the chorus of progress.”

Shettima reminded Mbah that he was now the leader of APC in the state in line with the party’s tradition, pointing out that the governor now carries “the noble

killed by Israeli forces during two-year crisis

plan to end the war, Hamas’ re-emergent fighters executed men in the street and Israel told the United Nations it will allow only half the daily number agreed in last week’s ceasefire deal.

Israeli officials said Israel had decided to restrict aid and delay plans to open the southern border crossing to Egypt because Hamas had

challenge of rebuilding the APC in, and from, Enugu State”.

Shettima told Mbah, “You are not just a frontline stakeholder within the state; you are now a leading voice at the national level. Mr President has assured you of his full support, and I want to reaffirm that we stand ready to partner with you in deepening development and democratic dividends for the people of RecognisingEnugu.” that the strength of a political party rested in its foundation at the grassroots, including the “associations, the networks, and the day-to-day interactions that give life to its ideals,” the vice president said Mbah, as a people’s governor, who had walked with the people and understood their pulse, was in a better position to identify and strengthen the foundations of APC.

He stated, “Your Excellency, you have always been our ally, even when you were under the umbrella, and now that you wield the broom of hope, we are even more delighted.

“You are an asset to this party, and we do not take the strength, influence, and credibility you bring for granted. Your coming enriches our story and reinforces our mission.”

Welcoming the governor and his supporters to the party, Shettima reaffirmed APC’s determination to remain the home of all progressives.

Earlier, National Chairman of APC, Professor Nentawe Yil-

violated the ceasefire deal by failing to turn over bodies of hostages who had died after being captured in Hamas’s invasion of Israel in October 2023.

Hours later, Hamas informed mediators it will transfer four bodies to Israel from 1900 GMT, an official involved in the operation told Reuters.

Later, the Israeli military said

watda, welcomed the governor into the governing party, stating that they are now in “the soul and family of the progressives, the APC”.

Yilwatda thanked the governor for boldly taking the decision to take his people into the promised land through APC.

“Governor Mbah has revamped the education sector, he has built roads and has done a lot for his people, that is why we welcome him home. He has a progressive heart, that is why we are glad to welcome him home,” Yilwatda stated.

President of the Senate, Godswill Akpabio, commended the governor for transforming the state within two years of his assumption of office.

Akpabio said it was a thing of joy for such a performing governor to join the fold of the progressives.

Speaker House of the House of Representatives, Hon Tajudeen Abbas, said the reception marked a historic day for the government and people of EnuguAbbasState.assured Mbah of equal treatment among members of the APC family. He said the defection of the governor was a sure sign that the entire South- east will eventually join the progressives family.

Chairman of Progressive Governors Forum (PGF) and Imo State Governor, Hope Uzodinma, said the forum was excited to welcome Mbah into

the Red Cross had received four coffins from Hamas and was on the way to hand over the remains to Israeli forces. Israel’s two-year assault has left much of the enclave in ruins. On Tuesday, Hamas said Israel was killing people in Gaza and violating the ceasefire. Trump suggested Hamas was reneging on its promise to return the dead,

its fold.

Uzodinma expressed belief that the coming of Enugu State into the APC family would further strengthen support for Tinubu in the South-east as well as the region’s position in nationalDeclaringpolitics. his membership of APC, Mbah described the governing party as the largest political party in Africa. He said saying his defection into the governing party was a new beginning that markedthe end of wallowing on the sidelines, adding that his defection was a collective decision of the entire political family of the state.

“We are affirming today collectively that we are going together as a zone to put an end to segmented politics. We are moving to take the opportunity at the national level,” Mbah said.

Justifying his decision, Mbah said the vision of Enugu State had now found stronger rein- forcement at the centre.

The governor thanked PDP, which gave him the platform to win the election in 2023, stating that leadership sometimes demands difficult and painful decisions in the service of higher principles and goals.

Addressing a crowd of party faithful, the governor said his decision was not whimsical but a collective move by the political family in the state.

He said the decision involved members of the National Assembly, state executive council, local government chairmen,

and threatened the group with violence.

“If they don’t disarm, we will disarm them,” Trump told reporters in Washington after returning from his weekend trip to the Middle East. “And it will happen quickly and perhapsHamas,violently.” which seized Gaza in a brief 2007 civil war, has swiftly reclaimed the streets of

councillors, political appointees, and party executives.

Mbah stated, “After a long walk, we have decided to leave the PDP and join the APC. Our vision has now found stronger reinforcement at the federal level.

“I have thought carefully about the path forward and after soul-searching and reflection, we decided to honour transparency and for the people we serve.”

The governor stated that for over three decades, the people of Enugu walked side-by-side PDP, yet their voices were too often disregarded when it mattered most, a clear betrayal of faithful- ness, fairness, and friendship.

He said some of the betrayals included the failure to zone the presidency of the party to the South-east in 2023 and the failure to recognise Sunday Udeh-Okoye, a former PDP youth leader as the party’s national secretary position.

“Now, we are seeking a place where our interest will be represented fairly. We are not moving from a place of resentment but fairness and respect and integrity,” he said.

Mbah also said, “In Enugu State, we have found in President Bola Tinubu not just a leader for our nation, but a partner in purpose. He looks beyond today and makes choices for a lasting future and believes that transformation must be bold andHedisruptive.” maintained that the presi- dent had not only shown a mere interest, but also a deep vested

Gaza’s urban areas following the partial withdrawal of Israeli troops last week. In a video circulated late on Monday, Hamas fighters dragged seven men with hands tied behind their backs into a Gaza City square, forced them to their knees and shot them from behind, as dozens of onlookers watched from nearby store fronts.

interest in Enugu, recognising the state as a pillar of national progress.

Mbah stated, “This is a time when we must make a bold choice to determine our destiny.

“I will continue to represent our state and the region with the same strength as I have always done.

“Our move is bigger than politics but about alignment with the centre. The projects we have begun will be completed, our people are watching and what they care about the most is results.

“True leadership is about service to the people and not self and we need an ally that can match our ambition and a conscious step towards a more compelling future. This is a new beginning of a new era of progress.” In attendance to receive the governor were former governors of Enugu State, Sullivan Chime and Ifeanyi Ugwuanyi, former Senate President Ken Nnamani, members of the National Working Committee of APC, Chairman and members of the caretaker committee.

Others were former Speaker of the House of Assembly, Edward Ubosi; Senator Osita Ngwu; Deputy Chairman (South) of APC, Emma Eneukwu; National Secretary of APC, Ajibola Basiru; Deputy National Organising Secretary, Chidi Duru; and National Woman Leader, Dr. Mary Alile.

Mb AH , Depu TY,

Osimhen’s Hat trick Qualifies Super Eagles for World Cup Playoffs

South Africa beat Rwanda to pick Group C ticket to the 2026 Mundial

Duro

Ikhazuagbe

Three goals from Victor Osimhen and a late fourth from Frank Onyeka ensured that Nigeria’s Super Eagles defeated Benin Republic 4-0 and book a place amongst the four best runners up for the Continental playoffs in Morocco next month.

As expected, South Africa defeated Rwanda 3-0 in Mbombela Stadium in Nelspruit to leapfrog Benin to the top of Group C with 18 points. The victory earned the Bafana Bafana the direct qualification ticket to the 2026 FIFA World Cup.

But in Uyo, Super Eagles who realized that the direct qualification ticket had slipped, had to put up the fight of wounded lions to be amongst the four best teams. And Galatasaray top striker, Osimhen made that possible. He fired two quick goals in the third and 37th minutes to end the first half 2-0 in favour of Nigeria. Former AC Milan forward, Samuel Chukwueze, contributed both passes that Osimhen converted to goals.

On return from the first half break, Osimhen completed his hat trick when he headed into the net Moses Simon’s lob for his

FINAL GROUP C STANDINGS

Grange School Leads 18 Others in Dolphin Swimming League Season 7

Grange School surged ahead in the opening leg of Season 7 of the Dolphin Swimming League, held over the weekend in Lagos, amassing an impressive 355 points to top the leaderboard.

In the secondary division of Nigeria’s premier inter-school swimming championship, Children International School (CIS) followed closely with 254.5 points, while British International School (BIS) secured third place with 163 points.

A total of 19 schools and clubs participated in the first leg of the secondary category, hosted by Grange School. The race for the top spot continues on November 1, when CIS will host the elementary division of the competition.

Speaking on the league’s impact, Technical Director of the Nigeria Aquatic Federation, Samuel Jesimiel, praised the Dolphin Swimming League for nurturing top-tier talent. “At the last two editions of the National Youth Games, we witnessed incredible performances, many of the standout swimmers came from this league. I’m grateful to see the seventh season completed successfully,” he said.

Jesimiel also highlighted the league’s growth: “We started with just seven schools, and now participation has doubled. That’s why we’ve split the league into elementary and secondary divisions. The entries are high, but we’re equipped to manage it, and I commend the organizers for their role in developing this sport.”

Former President of the Nigeria Aquatic Federation, Babatunde Fatayi-Williams, echoed the sentiment, emphasizing the league’s transformative role in junior swimming. “The Dolphin Swimming League is an outstanding initiative, which is why I’ve supported it from the start. The results speak volumes, Lagos State claimed 19 out of 25 gold medals at the last National Youth Games. To sustain this success, we need more corporate backing,” he said.

Fatayi-Williams also ad- vocated for expansion: “This league could be replicated in other cities like Abuja and Port Harcourt to raise the standard of junior swimming nationwide. Swimming is a sport that must be nurtured early, catching them young in primary and secondary schools is the key.”

third goal of the evening that took his goals tally in the entire qualification series to six.

Substitute Frank Onyeka sealed the fourth vital goal for Nigeria few minuets after he came on for Moses Simon.

It was mission accomplished for Super Eagles who finished the qualifiers on same 17 points as Benin but better on

goals difference to place second behind winners South Africa on 18 points.

Nigeria’s Super Eagles however finished overall fourth on the best runners up standings after the removal of points earned against all the last teams of the nine groups according to CAF rules of the competition.

The withdrawal of Eritrea from the qualifiers caused

CAF to order the deduction of all points earned against the last teams in all the nine groups. It was done to reduce all the groups to five teams to give all fairness in deciding the four best runners up teams. Eagles were lucky to lose just two points from the home and away draw results against Zimbabwe, the last team in Group C. Gabon lead the ranking

Super Eagles players mobbed Victor Osimhen in celebration shortly after the Galatasaray forward scored the hat trick in Nigeria’s 4-0 defeat of Benin Republic in Uyo... yesterday

of second best teams on 19 points while D.R. Congo are second on 16 points. Cameroon placed third on same 15 points as Nigeria. Two other countries that also finished on same 15 points (Burkina Faso and Niger) lost out on inferior goals difference to Nigeria and Cameroon. Before the end of the fixtures in Uyo, Uganda’s Cranes had created fears in the minds of Nigerian fans when they led already qualified Algeria in Algiers in the first half. But two late goals by Algeria effectively put paid to the dreams of the Ugandans qualifying to be amongst the top four best runners up teams.

RESULTS

All the 9 Qualified African Teams

*Morocco

*Tunisia

*Algeria

*Cape Verde

*Egypt

*Ghana

*South Africa

*Ivory Coast

*Senegal

...Nigeria to Battle Gabon in the Playoffs

The Super Eagles will begin a second quest to qualify for the 2026 World Cup when they face Gabon next month in Morocco in a continental Playoffs. Nigeria missed out on an automatic ticket to the Mundial after South Africa won Group C with 18 points from 10 matches. The winner of the African playoffs in Morocco will head to Mexico in March 2026 for the Intercontinental playoffs involving six teams from where only two teams will emerge to

Route to the Intercontinental Playoffs

CAF Teams

*Participants: The 4 Best runners-up from the 9 groups: Gabon, DR. Congo, Cameroon and Nigeria.

*Format: A mini-tournament with semifinals on November 13, 2025, and the final on November 16, 2025.

All matches are single elimina- tion (one leg) and hosted in Morocco (neutral venue).

Ties are resolved by extra time,

then penalties. Five subs are allowed (plus one in extra time)

*Outcome: The winner (from Africa) advances to the FIFA Inter-confederation playoff tournament in March 2026, competing against 1 team from Asia; 1 team from South America, Oceania, and two from Concacaf (North & Central America, host region) for the last 2 World Cup slots

G24 mEDiA

BRiEFinG in WAShinGTon DC...

L-R: Governor, Central Bank of Nigeria (CBN), mr. olayemi Cardoso; G24 Chair and Secretary of finance at the ministry of economy, Argentina, Pablo Quirno; executive Director, State Bank of Pakistan, muhammed Ali malik, and Director, G-24 Secretariat, Iyabo masha, at the G24 press briefing at the ongoing Imf/World Bank Annual meetings in Washington DC…yesterday

Kayode Komo LA fe

The Political Economy Approach

While appreciating the mission of the Nigerian Economic Summit Group (NESG) last Wednesday on this page, it was suggested that the think tank should consider the political economy approach in its advocacy.

The group has performed creditably what could sometimes appear as a Sisyphean task for 31 years. In projecting into the future, it may need to pay greater attention to the economic thoughts behind its propositions.

The essence of the political economy approach is that economic policies could not be divorced from the political stimulus. While professional economists are busy with the correctness of their models and scenario buildings, politicians are focussed on the electoral consequences of the policies. In real terms, the intersection between politics and economics has always been there from the beginning. The advocacy for economic reforms should be sufficiently informed about the dynamics of things in the political landscape. In his book, “New Ideas from Dead Economists,” Todd G. Buchholz observes as follows: “The strongest link between economists and the real world has been politics. Indeed, until this (20th) century economics was called “political economy.” Almost all the stellar economists served at some level of government. Two of them, David Ricardo and John Stuart Mill, won election to the British parliament. Among the greatest economists we consistently see not just a spark of scientific interest, but a surge of passion. Among the numerous symbols of calculus and statistics we see bold exclamation points.”

In fact, the evolution of NESG itself could be employed to illustrate the point about the political economy approach. The idea of NESG was born in 1993. In that year alone, three regimes oversaw Nigeria. Of course, each had its own policy direction. In January 1993, the military regime of President Ibrahim Babangida was expected to conclude its transition programme with the election of a new president in June. The crisis triggered by the annulment of the election forced the government to handover to an “interim government” headed by Chief Ernest Shonekan in August. By November of the same year, General Sani Abacha announced the sack of the Shonekan government and thus began a five-year military rule by the dictator. Vision 2010 was drawn up under the regime of Abacha as a pathway for economic transformation of Nigeria. The NESG expectedly played a role in the making of Vision 2010 by providing the technical platform for dialogue between the public sector and the

private sector. Meanwhile, the whole exercise was received with a good dose cynicism in many quarters where it was viewed as part of Abacha’s attempt to legitimise his regime. The vision was for Nigeria’s economy to be developed by the Year 2010 with an annual growth rate of 10%, poverty reduction to 20% of the population and $1, 6000 per capital income. While experts were immersed in the visioning thing with all sincerity of purpose the forces fighting for democracy were largely alienated from the whole process. They called it the Abacha agenda.

Abacha died two years after Vision 2010 was conceived. Following a speedy transition organised by the regime of General Abdulsalami

Abubakar, who succeeded Abacha, President Olusegun Obasanjo was elected at the onset of the present dispensation in 1999. Obasanjo was imprisoned by the Abacha regime on charges of coup plotting. The charges were denied. Now, the interaction of motivating force of politics and advocacy based on economic ideas was glaring in the Obasanjo years. It was unimaginable that Obasanjo would countenance wholesale a Vision 2010 of the Abacha era. While NESG and other think tanks might find the ideas informing the Vision 2010 technically correct, it might not be politically wise to make it the basis of advocacy for the Obasanjo administration. However, the NESG has continued its advocacy basically on the economic ideas of privatisation, liberalisation, deregulation and a greater role for the private sector in the economy. Some of the economic ideas canvassed during the economic summits have successfully influenced policies as evident in some reforms. Examples are the reforms in sectors such as telecommunication, pension, maritime and shipping, ease of doing business etc.

The twin policies of the administration of President Bola Tinubu - removal subsidies on petroleum products and liberalisation of the foreign exchange market- are among the reforms the NESG had advocated for years.

Yet deep economic thoughts are still needed on some of ideas popularised on the platform of NESG and other think tanks. For instance, a proper policy audit of privatisation may compel a critical review of the idea and its application. Not all privatised companies have flourished after sale

despite the glowing promises. Some privatised entities have become objects of asset striping. It should probably be noted that the telecom sector reforms are often mistaken for a success of privatisation. No. The only privatisation in the telecom sector is the sale off the Nigerian Telecommunications Limited (NITEL), which turned out to be a failure. The flourishing telecom companies are products of liberalisation and not privatisation.

The debacle of the privatisation in the electricity sector is also a matter eminently suitable for critical review of concepts and implementation. While privatisation was assumed to be the elixir readily possessed by the private investors 13 years ago for the sector, the state is still expected to ensure steady supply of electricity by the electorate. That is the element of political economy required in thinking about policies. In fact, in the popular imagination the image of that publicly owned National Electric Power of Authority of Nigeria (NEPA) still looms large. People still talk of the “problems” of NEPA years after the public corporation had become defunct. They hardly mention the DISCOS and GENCOS, the products of the unbundling of NEPA which happened over a decade ago. The failure of the privatisation conducted in the electricity sector should be a matter of a critical policy review of economic thoughts.

The efficacy of the political economy approach lies in the fact that it is the state which is held responsible by the people for the outcome of economic policies.

So, it is important for non-state advocates of policies to always bear this point in mind.

Government’s Presence at Economic Summits

By Joe Keshi

This morning, I read Kayode’s Komolafe’s interesting and enlightening write-up on the Nigeria Economic Summit Group, and l think it is the best l have read about the NESG as an institution.

That said, l has a few concerns about the efficacy of the group these days, as l doubt how seriously its views found acceptance by the government. Before l go further, let me correct Komolafe on one aspect where he wrote about our presidential candidates traveling to London to speak about Nigeria at Chatham House rather than engage the NESG. I am aware that Mr Peter Obi had an engagement with the NESG and with the Lagos Chamber of Commerce during the campaign, and

l think one other presidential candidate did. These, l believe, were reported in several newspapers. However, my concern is that Komolafe may not have observed that in recent years, government attendance is limited mostly to the opening ceremony, after which most government officials disappear leaving only the private sector and development agencies to discuss among themselves. Worst still is the absence of key economic ministries. I do not think this was the way the Summit was originally designed. And this could also be some of the reasons why neo- liberal thoughts dominate at the summit and our system, especially in the absence of the academia whom l suspect is also not too represented (I might be wrong on this). Even

state governments, except on some rare occasions, rarely participate in the annual conversation. I think efforts should be made to compel ministers, permanent secretaries, and directors to be part of the conversation. So also, the academia and the states. Maybe the Summit itself should be moved around to some key cities like Port Harcourt, Enugu, and Kaduna as Dr. Tayo Aduloju, the director-general of NESG, has been thinking of regional summits. Such broad participation is what the summit needs to be relevant and useful. This would further consolidate it as a national institution.

•Ambassador Keshi, former Permanent Secretary in the Ministry of Foreign Affairs, is the President of the Association of Retired Career Ambassadors of Nigeria.

President Bola Tinubu