US govt lists areas of key investment attention in Nigeria Abdulrazaq puts annual infrastructure financing gap at $100bn yesterday floated an investment platform to enable the 36 states attract Foreign Direct Invest-
ments (FDIs). They said “NGF Investopedia” was launched because the $2 billion yearly
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NUJ, IOM hail security forces, applaud FG for operation expansion to N’west, N’Central DSS tells court Owo Catholic church attackers had links with foreign terrorist groups Refutes claim alleged human rights violation suit triggered defendants’ arraignment Court okays shielding of prosecution witnesses’ identity Bandits kill 13 worshipers during morning prayers in Katsina
Adenrele, at the media briefing on Lagos-Abuja super highway project by AEC Unity Network Limited held in Lagos ... yesterday
Emmanuel Addeh in Abuja
President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African governments to end corruption and illicit capital flows that cost the continent more than $580 billionAdesina,annually. in an interview with Bloomberg in Maputo, Mozambique’s capital, main- tained that if African leaders are to deal with a debt pile that’s approaching $2 trillion, it must begin to take visible action to end sleaze.
While nations also need access to more concessional financing — and debt-restructuring where necessary — curbing outflows is crucial, Adesina, the lender’s president said.
Illicit financial flows and rising debt have become two of the most pressing challenges facing African economies today. Every year, the continent loses money through illegal channels such as tax evasion, trade misinvoicing, corruption, smuggling, and money laundering.
These outflows drain resources that could otherwise fund infrastructure, education, health, and job creation.
According to international estimates, Africa loses more through illicit financial flows than it receives in aid and foreign direct investment combined.
At the same time, Africa’s debt burden has risen to worrisome levels as many countries continue to spend a growing portion of their revenues servicing external loans, leaving little fiscal space for social investment.
“It doesn’t matter how much water you pour into a bucket if the bucket is leaking,” he said during the interview. “If you’re able to reduce the leakages to illicit capital, also corruption and all of these things, Africa will be able to keep a lot of these resources and meet the amount of infrastructure it needs,” Adesina added.
The AfDB estimated in May that Africa loses about $1.6 billion daily to what it termed “financial leakages.”
That figure includes the loss of $90 billion a year to illicit
financial flows, with $275 billion “siphoned away” by multinational corporations shifting profits, and $148 billion going astray because ofThecorruption.continent faces an
annual infrastructure backlog of as much as $170 billion — which will be critical to address for economic develop- ment and job creation, the Bloomberg report said.
Yet many governments are
grappling with the rising cost of servicing loans, which is at the highest level since the last debt crisis in the early 2000s, according to a working paper by the Boston University Global Development Policy
Center and the Institute for Economic Justice.
More than half of African governments spend more on interest payments than public health, the working paper found.
About two months after their last meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun yesterday met with the Governor of the Central Bank of Nigeria (CBN), Mr. Wale Edun on how to deepen coordination between monetary and fiscal authorities with a view to sustaining macroeconomic stability, strengthen investor confidence, and unlock private sectorBothgrowth. of them had met on the subject-matter on June 17, 2025 when the minister visited the CBN Governor at the apex
bank’s headquarters in Abuja.
Like the previous meeting, the Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji was also in attendance at yesterday’s meeting, according to a statement by the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga.
Edun reportedly reaffirmed at the meeting that close alignment between fiscal and monetary policy was critical to consolidating President Bola Tinubu’s reform agenda, ensuring inflation is contained, revenues are mobilised efficiently, and credit flows effectively to productive sectors.
gideon Arinze in Enugu
The Agbaja Leaders of Thought, organisers of the Agbaja 2025 Summit in Enugu State, have stated that the 9th Mile Industrial Park, situated in the Udi Local Government Area, is open to additional investment opportunities.
They made this announcement during a press conference held as part of the activities for the 2025 Agbaja Summit, scheduled to take place in Enugu
between November 26 and 27. Agbaja land is made up of Udi, Ezeagu, Oji-River, and Igboetiti LGAs, as well as parts of Enugu North, South, and East local government areas.
Speaking at the event, Ugo Chime, who was chairman of the planning committee for the Agbaja 2022 summit, said the 9th Mile area, which hosts the Nigerian Breweries, remains an ideal location for investment, offering investors opportunities to site their businesses.
He noted that as leaders, they have held conversations with different communities in the area on the need to collaborate and co-exist peacefully with companies that come to operate in the area.
“The 9th Mile area has the best drinking water in Enugu and one of the best in the country,” he said. Apart from water, we also have other abundant natural resources such as coal and other resources that can help to transform the state and
the entire country,” he added.
Commenting on the 2025 summit, its chairman, Chike Anibeze, stated that it would focus on enhancing education and skill development among students in Enugu, as, according to him, the way education is structured often resulted in schools producing graduates who lack practical skills, while theoretical knowledge without hands-on experience was inadequate in today’s rapidly changing world.
The statement read: “In a significant step towards strengthening Nigeria’s economic fundamentals, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today, held a strategic meeting with the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, at the CBN Headquarters in Abuja.
“The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji was also in attendance.
“The high-level engagement focused on deepening coordination between monetary and fiscal authorities to sustain macroeconomic stability, strengthen investor confidence, and unlock private sector growth.
Emmanuel ugwu-Nwogo in Umuahia
The Abia State Government has intensified its search for alternative sources of energy to enhance power supply in the state and minimise reliance of residents on the national grid for their electricity needs.
To this end, the State Commissioner for Information, Prince Okey Kanu, said the Abia government has elected to participate in the Distributed Access to Renewable Energy Scale-Up (DARES) programme.
He said that the $750 million World Bank intervention and
renewable energy development programme “will in no small way boost the electricity sector of the state”.
Kanu, who spoke with journalists after the meeting of the State Executive Council, said that Abia was collaborating with the International Solar Alliance(ISA) to develop regulations for the operation of the mini-grid system for electricity power distribution in the state.
He stated that Abia was desirous of playing big in the power sector by making huge investments as well as getting the private sector investors to capital into power sector.
L-R: Diplomat from the Chinese Embassy in Nigeria, Mr. Cai Xinfa; the Chinese Ambassador, H. E.
Yuovuing; and Mr. Zhao Liang, during an investment tour
Ogun
Tinubu, says president approachable Attacks Amaechi again, states his presidential bid dead on arrival
Reveals Babachir livid with Tinubu because he wasn’t picked as VP Feigns ignorance of planned PDP convention
Emmanuel Addeh and Olawale Ajimotokan in Abuja
In spite of mounting opposition from stakeholders against the proposed local government elec- tions in Rivers state scheduled for August 30, Minister of the Federal Capital Territory (FCT)
and former Governor of the state, Nyesom Wike, yesterday said the election will go on as planned.
Speaking on a national television yesterday, Wike argued that the so-called eminent persons from the state who do not want the election to hold do not mean well for Rivers
state and should be ignored.
The planned Rivers state local government election has drawn opposition from a wide range of political leaders, party factions, and civil society groups, who have all questioned its legality and fairness.
A long list of prominent Rivers stakeholders, includ-
ing Atedo Peterside; former governor Celestine Omehia; former Peoples Democratic Party (PDP) Chairman Uche Secondus; former Minister, Abiye Sekibo; Senator Lee Maeba; Dakuku Peterside; Senator Andrew Uchendu; Tele Ikuru; Fafaa Princewill and Tonye Cole, among others,
Ohwovoriole
The Ministry of Communications, Innovation and Digital Economy and the Nigerian Communications Commission (NCC) are collaborating to review the 2000 Telecoms Policy.
This comes as the Commission plans quarterly disclosure of information on the quality performance of the Mobile Network Operators (MNOs).
The NCC Executive Vice Chairman (EVC), Dr. Aminu Maida, made the disclosure at a media engagement
yesterday, in Abuja, where he stated that the process of reviewing the policy had commenced.
“Since the National Telecom Policy 2000, you will be pleased to know that we have started engagements with the ministry to revise the telecom policy, because as per the act, the NCA 2003, we are to guide and provide input to the National Telecoms policy. But it’s driven by the ministry.
“That process has started and that was also contained in the Honorable Minister Abudzun Tidjani’s strategic blueprint, which he released
early when he assumed office.
“So, we need to let Nigerians know all our operators who is first, second, and third.
“And you know what that would do. The person who came last, will be in trouble with his board. He will have to go and explain to his board. Or it will be an opportunity for him to tell his board, I need that investment that you have been denying me.
“We want to complement it with an information disclosure approach as well to drive that competitiveness. So, that is why you’ve seen us increas-
George Okoh in Makurdi
Governor Hyacinth Alia of Benue State has hailed local government autonomy even as he disclosed the Bureau of Local Government and Chieftaincy Affairs is help- ing the local government in the area of coordination.
Mr. Denen Aondoakaa, the Special Adviser on Bureau of LG said this during an interaction with
newsmen in his office on Tuesday, insisting that LGAs in the state practice financial autonomy.
He added that his office only has the duty to coordinate while the local governments handle every- thing at their own level.
He said though the figures accruing to the local government from the Federation Account may seem huge, payment
of staff salaries, arrears of pensions gulp a huge chunk of it.
His words: “Now, when someone look at the fig- ures, the total figure, it is huge, am not saying it is correct but what are the responsibilities? What are their finances? I have a local government whose pension is over 200 million every month and other one, 50 million.
ingly releasing information, taking the bold step to make corrections to some of our data points, whether it’s the population rebasing we did, or posting in same linkage policy conclusion on the audit we did to adjust the numbers, which unfortunately led to one of the operators dropping significantly,” he said.
recently petitioned President Bola Tinubu, describing the exercise as unconstitutional.
Among others, they pointed to breaches in procedure, particularly the failure of the state electoral body to give the mandatory 90-day notice.
But Wike stated that there was nothing eminent about the aforementioned persons, arguing that if they were important, they will support the election which has been fixed by the Military Administrator of the state, Vice Admiral Ibok-Ete Ibas (rtd), who many argue lack the constitutional authority to conduct democratic polls.
“Because I have money that’s what makes me eminent? If anybody is eminent there, they should support that election. Because if you don’t, you are bringing the state backward. When you say unconstitutional, who interprets what is uncon- stitutional. Does it lie in their
mouth to say something is unconstitutional?
“For Christ’s sake, you have the court that has been given the responsibility. Take up the challenge and go to court and say this is unconstitutional. And let the court be able to decide. How will our laws grow, it’s not by writing to the president saying it’s unconstitutional.
“What has ever happened that you have said it’s unconstitutional. Have they read the emergency powers of the president?. Did you know the supreme court said there is no government in the state?
“The supreme court sacked all the local governments and said no caretaker. That you can’t have money for all the local governments. The state government has no budget. How would you run the state government at that time if the president did not take the powers that he took.
The Osun State chapter of All Progressives Congress (APC) yesterday slammed Governor Ademola Adeleke over his lengthy stay in the United States, calling on him to return home and prioritise the governance of the state.
APC equally accused the governor of excessive spending on foreign travels, claiming that his administration has spent over N6 billion on international trips since his assumption of office in 2022.
APC alleged that Adeleke
spent N3.1 billion on foreign trips in just the first half of 2025, N1.2 billion in 2024, and N753 million in 2023, without any significant foreign direct investment to show for it.
In a statement made available to THISDAY yesterday in Osogbo by the state APC Chairman, Tajudeen Lawal, the party condemned what it described as the governor’s “carefree attitude” while vital issues in Osun remained unattended.
APC alleged that Adeleke, who had been out of the country for over a month, initially left the
state quietly but later claimed he was in the U.S. to prepare for the wedding of his nephew, music star David Adeleke (popularly known as Davido).
According to the APC, “Although the wedding concluded weeks ago, the governor has remained in the U.S., justifying his prolonged stay by stating that he is holding meetings with potential investors.”
The party also questioned the credibility of the claims, citing a viral photograph that allegedly showed the governor in a casual setting with no signs of formal business engagements.
L-R: Edo Central Senator-elect, Joe Ikpea, congratulated by Chairman/Chief Executive Officer, Lee Engineering & Construction Company Ltd., Dr. Leemon Ikpea, on the senator-elect’s victory at last Saturday’s bye-election in Edo State, on Sunday
Four-phase development cost put at N2.4tn Management blames 11-year delay on policy inconsistency
After nearly 11 years’ lull, the management of Centenary City Plc, Abuja, has awarded a N750 billion contract to Julius Berger to develop infrastructure for the first phase of the Abuja Centenary City project conceived in 2014 as Abuja’s flagship urban renewal initiative.
The public-private partnership (PPP) project was conceived during the administration of former President Goodluck Jonathan at an initial cost of N18.6 billion to mark Nigeria’s Centenary. But it was stalled largely due to policy inconsistency under the previous administrations, as well as a number of other setbacks.
Briefing journalists in Abuja, Tuesday, the Managing Director of Centenary City Plc, Dr. Michael Odenigwe Jr., said all impediments to the full realisation of Abuja’s foremost project had been cleared.
According to Odenigwe, the contract-signing ceremony between the management of Centenary City and Julius Berger last weekend, under- scored the resolve to realise the project, which has the potential of changing the face of the capital city in all spheres.
Lamenting that such a visionary project was stalled for 11 years due to policy inconsistency by successive gov- ernments, he said, “Whenever there is a change of government, policies don’t continue.
“But with the coming of this government, we have conquered the issue of policy inconsistency, because this gov- ernment knows the economic value of this project.
“Nigeria needs foreign direct investment; our population is growing, and infrastructure is lagging behind.”
Odenigwe disclosed that Phase 1 primary infrastructure in the city, which was to cost N750 billion, will be executed
in lots, adding that Lot 1 includes the 4.3 kilometre plot access road and the Secondary Infrastructure of The Grove Residences, The Safari Park Residences and The Ridge Villas.
Odenigwe stated that Dar Al-Handasah Consultants (DAR), which coordinated the master plan of the city,
was retained to execute the detailed engineering design of the entire project.
He described the project as Abuja’s foremost urban renewal initiative, designed to attract international investment and provide a multifunctional lifestyle hub.
Giving further push on why the project was highly needed,
he said, “Abuja has nothing concrete to show for tourism at the moment, so the idea of Centenary City is to complement what we have currently and compete with what is obtainable globally.”Some of the monumental features of Abuja include the tallest building in sub-Saharan
Africa, which would be constructed, with 150 hectares of land earmarked for an entertainment park to serve those in the movie industry (Nollywood), while 13 branded international hotels are part of the city’s configuration.
“We are going to change the landscape of Abuja. This is a destination,” he said.
The Nigerian Society of Engineers (NSE), in partnership with the Nigeria Data Protection Commission (NDPC) and the Nigerian Institute of ICT Engineers (NIICTE), yesterday flagged off a Data
Governor Dapo Abiodun of Ogun State has called for a partnership with Chinese investors to explore the numerous mineral resources that abound in the state.
Governor Abiodun made the call on Tuesday when he received the Chinese Ambassador to Nigeria, Mr. Yu Dunhai, who paid him a courtesy visit in his office at Oke-Mosan, Abeokuta.
He said the state is blessed with abundant
natural resources, making it the largest contributor in the non-oil sector of the nation’s economy, hence the need for the state to partner with Chinese inves- tors for more coordinated exploration.
He said: “Ogun State is blessed with a lot of mineral resources; we have gold, clay, bitumen, limestone, kaolin, glass sand, granite, among others.
“Ogun State is number
one in cassava, eggs, poultry, and fish production. Our land is fertile for the cultivation of cocoa, rubber, and cashew. We are the number one producer of cement in Nigeria and the third in Africa behind Egypt and Morocco.
“We have huge human resource potential because we are the education capital of this nation. We have more educational institutions than any other state.
Protection Induction Training for engineering professionals in Abuja.
NSE President, Margaret Oguntala, in her opening remarks said the training was part of the Society’s drive to bridge the knowledge and skills gap among members, particularly in emerging areas like data governance, privacy, and regulatory compliance.
“As engineers, we are not just builders of systems and
infrastructure, we are custodians of public trust. That trust increasingly depends on our ability to protect the privacy, security, and integrity of data,” Oguntala said.
She explained that the initia- tive was in line with NSE’s ISO 9001:2015 certification and commitment to international best practices, adding that the Society planned to train at least 10,000 members across different categories through
structured professional development programmes.
“This training is particularly unique and strategic in the series of the professional development initiatives being rolled out by the NSE Headquarters. It forms part of our deliberate efforts to bridge knowledge and skills gaps among our members, ensuring that our Engineers are equipped to meet modern-day demands across disciplines.
Olawale Ajimotokan in Abuja
Minister of the FCT, Nyesom Wike, has lambasted civil servants for awarding non-existing contracts without the knowledge of the minister and for causing the FCT Administration alleged N5.8 billion as claims from protesting contractors. He affirmed this yesterday at the commissioning of the newly rehabilitated N50 billion
Lower Usuma Dam Phase
2 Water Treatment plant in Ushafa, Bwari Area Council.
Wike derided the contractors as bogus, insisting he would not be intimidated into settling claims that were never legitimately awarded.
“Let anybody who said I awarded a contract bring the documents and show how I awarded the contract. You see the problem in this country
is that when you want to fight corruption, corruption will fight you back, and it is corruption that is fighting back. We are going to defeat corruption.
“I came on board with the Minister of State, complaints that people were being owed local contractors, indigenous contractors; 5 billion, 8 billion being paid. I said who awarded this contract?
Emmanuel Addeh in Abuja
The Minister of Communications, Innovation and Digital Economy, ‘Bosun Tijani, yesterday said that approving a tariff hike for operators in the telecoms sector was one of the most difficult decisions of his life.
Speaking on Arise Television, Tijani, stressed that the government was careful about creating a fragile balance between liquidity in the sector and ensuring that Nigerians are not impoverished.
Linus
The National Human Rights Commission (NHRC) has called on the federal government to swiftly put every machinery in place to ensure swift trial of the arrested leaders of the notorious terrorist group, Ansaru, ensur- ing that they were held to the
accounts was issued in a ruling on an exparte application argued by the lawyer, who represented the anti-graft agency, Ogechi Ujam.
The ex-parte application marked: FHC/ABJ/CS/1641, though dated August 8, was filed August 11, and specifically sought for the court’s order freezing the bank accounts listed in the schedule.
The applicant persuaded the court to order the temporary freezing of the said accounts, so that the commission would be able to conclude its findings, as investigation was still ongoing.
It was the claim by the EFCC that the four bank accounts belonged to Kyari, “who is currently being investigated in a case involving conspiracy, abuse of office and money laundering, pending the conclusion of the investigation.”
In a short ruling, Justice Nwite held that there was enough reason as shown by the applicant to warrant granting the motion.
“I have listened to counsel to the applicant and gone through the affidavit evidence with the exhibits and written address attached. I found that this application is meritorious and it is hereby granted as prayed,” he said.
He subsequently adjourned till September 23, to enable the EFCC conclude and report back to the court.
The affected accounts were Jaiz Bank account number 0017922724 with account name: Mele Kyari; Jaiz Bank account number 0018575055 with account name: Guwori Community Development
However, he stated that the decision has now paid off, revealing that he is aware that the telecoms companies are currently expecting infrastruc- ture worth about $1 billion to upgrade their network infrastructure.
“When we came in, we met a very difficult situation. Dif- ficult in the sense that inflation all over the world, including in Nigeria, had been on the rise significantly over the last years, especially after COVID. And in Nigeria, because we as a government had to take the
highest form of accountability befitting their heinous crimes. The call was made yesterday by the Executive Secretary of the Commission, Dr. Tony Ojukwu, at the presentation of July 2025 Human Rights Dashboard in Abuja. This was as the Nigeria Union of Journalists (NUJ) has commended the government and its security forces for the recent successful operation
Foundation; and Jaiz Bank account number 0018575141 with account name: Guwori Community Development Foundation Flood Relief.
The anti-graft agency said the application was brought on three grounds, arguing that the bank accounts under investigation were linked to misappropriation of funds and criminal breach of trust.
It added that preliminary investigation revealed that the accounts were linked to Kyari, who allegedly took advantage of the complain- ant as a contract facilitator and laundered proceeds of unlawful activities.
“That there is need to pre- serve the funds in the identified bank accounts pending the
Embassy in Nigeria, Christine Harbaugh, pledged the American government’s support for projects that showcased investment opportunities in various Nigerian states.
Director-General of Nigeria Governors’ Forum (NGF), Abdulateef Shittu, said the infrastructure financing gap in the country was estimated at $100 billion annually, and nearly $1 trillion over the next decade.
The 36 states collectively budgeted more than N17.5 trillion for capital projects in 2025, reflecting their commitment to transform infrastructure and social services. Yet, financing constraints and fragmented entry points often prevented investors from engaging in large scale investments in
difficult decision of embarking on reforms that the president had clarity on as being the critical path to growing our economy, it meant that it was actually quite difficult for the companies.
“And these companies had not been able to increase tariffs for the last 10 years. It got to the point where they were even declaring losses. It was becoming difficult for them to mobilise capital to bring into the country to invest. And it took us a while. They kept pushing. It took us a while.
that led to the capture of two high-ranking members of the Ansaru terror group.
In the same vein, the International Organisation for Migration (IOM) has also applauded the government for its leadership role in implement- ing Operation Safe Corridor, a model for the rehabilitation and reintegration of repentant ex- Boko Haram fighters, especially the expansion of the programme
conclusion of investigation and possible prosecution,” the EFCC stated.
In an affidavit attached to the motion, Amin Abdullahi, an EFCC investigator attached to the Special Investigation (SIS) Unit, said the agency received a petition dated April 24 from the Guardian of Democracy and Rule of Law against Kyari.
He said he was part of the team assigned to investigate the matter.
“That upon receipt of the petition referred to in Paragraph 4 above, my team carried out several investigation activities which included seeking and obtaining bank records from commercial banks,” he said.
Abdullahi said the probe also involved obtaining corporate
the states.
Chairman of NGF, Abdurahman Abdulrazaq, who was represented by the governor of Nasarawa State, Engr. Sule Abdullahi, said Nigeria, Africa’s largest economy, was endowed with abundant human and natural resources.
“Yet, over the last decade, our FDI inflows have averaged only $2 billion annually, which is less than 0.5 percent of GDP,” Abdulrazaq stated.
He said, “These investments are mostly concentrated in oil and gas, telecommunications, real estate, and agriculture. While important, they have not reached the depth or breadth required to catalyse true subnational transformation.
“At the same time, African Direct Investment (ADI) into
“We took the painful process of understanding what would be the optimal allowance that we could give to them that would not send people bankrupt and still then allow them to be sustainable enough. It was quite tough. I think it was probably one of the most difficult things I’ve had to do as a minister. But I think we got it right,” Tijani stated.
But with the tariff hike, he noted that things were beginning to look up in the sector, including the news that
beyond the North-East to the North-West and North-Central regions.Nevertheless, the Department of State Services (DSS), has cautioned a Federal High Court in Abuja against granting bail to the five men being prosecuted over their alleged involvement in the June 5, 2022 attack at St. Francs Xavier Catholic Church, Owo, Ondo State, in view of their alleged link with foreign
details from the Corporate Affairs Commission (CAC) concerning bodies linked to the case, as well as inviting and interviewing individuals and company representatives.
The investigator revealed that about N661,464,601.50 suspected to be proceeds of unlawful activities were traced to four different accounts.
He added that the funds were traced to Kyari, who allegedly opened multiple accounts in Jaiz Bank used to receive suspicious inflows from the NNPC and various oil companies.
According to him, records further revealed that the accounts were controlled by Kyari through family members acting as fronts.
Nigeria has been steadily growing, with regional investors from South Africa, Morocco, Egypt, and Ghana expanding into sectors, such as banking, fintech, agribusiness, and infrastructure.
“This intra-African capital is particularly important under the African Continental Free Trade Area (AfCFTA), as it signals a growing confidence among African partners in Nigeria’s markets and opportunities.”
The NGF chairman stated, “Yet despite these inflows, the annual infrastructure financing gap for Nigeria is estimated at $100 billion — a gap that states bear the heaviest responsibility to bridge. Public budgets alone cannot solve this.
“To unlock prosperity, we
the telecoms companies are awaiting their orders from abroad meant to upgrade their operations.
“From these folks declaring losses, I think if I remember clearly, MTN probably de- clared, was it MTN or the entire sector, declared about N400 billion in losses. I think it was in the first half of last year. In the first half of this year, these guys are declaring profits that are probably close to N500 billion,” he added.
Tijani explained that without the raise in tariff, many work-
terrorist groups.
The DSS also refutes claim that alleged human rights viola- tion suit triggered defendants’ arraignment, just as the court has okayed the shielding of prosecution witnesses’ identity against likely harm.
Meanwhile, despite successes recorded by the nation’s security agencies, no fewer than 13 people have been killed during morning prayers in Mantau community, Malumfashi Local Government Area of Katsina State.
The National Security Ad- viser, Malam Nuhu Ribadu had at a press briefing, weekend, disclosed that two terrorists, Mahmud Muhammad Usman (aka Abu Bara’a/Abbas/ Mukhtar) and Mahmud alNigeri (aka Mallam Mamuda), both leaders of Ansaru sect and on the wanted list of Nigeria, the US, UK and UN were captured in an operation conducted between May and July 2025.
However, Ojukwu, while lamenting the increase in kill- ings of security personnel and auxiliary members of vigilante group, said there was urgent need to ensure that all needed apparatus were put in place to tackle insecurity, particularly terrorism in the country.
must mobilise both global and African capital to finance projects that create jobs, mod- ernise infrastructure, and drive inclusive growth.
“This is the purpose of the NGF Investopedia: to serve as a one-stop shop for investors, providing credible, transparent, and curated pipelines of projects across all 36 states.
“It is not just a catalogue — it is an entry point, showing investors not only where to invest, but also how to invest in Nigeria with confidence.
‘’This vision would not be possible without the partnership of our sponsors and allies.”
Abdulrazaq added, “Afreximbank, which will deploy in- novative financial instruments to move state projects from
ers in the sector would have been laid off, stressing that the sector now contributes significantly to the nation’s Gross Domestic Product (GDP) after the liberalisation policy of the federal government.
Ojukwu said: “From our observatory, we are gravely concerned by the resurgence and escalation of deadly violence in different parts of the country.
“In Sokoto, 15 men were killed in a reprisal attack by suspected members of Lakurawa. In Kebbi, a similarly tragic pattern emerged, with three police officers losing their lives in a failed abduction attempt.“Ladies and gentlemen, the month of July represents the deadliest for vigilante groups in the country with a fatality of almost a hundred deaths. The role of vigilante in supporting our security and armed forces in the field of battle should not be lost on us.
“Their decimation portends danger for our collective security and the enjoyment of our liberties. These are not isolated incidents; they represent a failure of security, justice and accountability.
“We are seeing an increase in targeted killings of law enforcement agents; frequent kidnappings and killings by bandits; brazen acts of violence by cultist groups and widespread violations of the right to life, particularly in
pipeline to bankability and financial closure.
“UNDP, which will support our states in building the institutional capacity needed to sustain credible investment pipelines. MOFI will pool post-launch resources to reinforce investor confidence and unlock blended finance opportunities.
“Together, these partnerships ensure that the Investopedia is not just a publication, but a living platform that will drive investment into our states in the years ahead.”
Abdulrazaq said the vision of the investment initiative was, “To position Nigeria’s states as credible, competitive destinations for capital and to
s
Acting Group Politics Editor DEJI ELUMOYE
Email: deji.elumoye@thisdaylive.com
08033025611 sms only
Last Saturday’s by-elections in Kaduna State is seen by many not only as a watershed moment in the state’s political history, but a definitive endorsement of Governor Uba Sani’s inclusive governance philosophy and a rebuke of divisive, exclusionary politics, Wale Igbintade writes.
The by-elections conducted last Saturday in Kaduna State emerge not merely as a routine political event but as a profound testament to the transformative power of inclusive and visionary governance under Governor Uba Sani.
In a state long marked by political volatility, sectarian tension, and historical divisions, the results delivered a compelling message: the people of Kaduna are yearning for, and embracing, a new political order founded on equity, justice, and collective progress.
At the forefront of this electoral wave was the resounding victory of the All Progressives Congress (APC) candidate, Felix Bagudu in the Chikun–Kajuru Federal Constituency, who secured an impressive 34,580 votes to decisively outpace his nearest rival from the Peoples Democratic Party (PDP), who garnered 11,491 votes. The Chikun–Kajuru Federal Constituency was since 2015, a stronghold long held by opposition forces.
This victory was complemented by similar sweeping successes in the state House of Assembly elections, where APC candidates, Isa Haruna Ihamo of Zaria Kewaye and Dahiru Umar-Sani of Basawa, triumphed with commanding margins.
These results are more than numerical victories; they are the public’s emphatic endorsement of a governance model that prioritizes inclusiveness and sustainable development.
The electoral process itself, lauded for its transparency and orderliness, demonstrated a political maturity that augurs well for the democratic future of Kaduna State.
Professor Abubakar Mohammed Jumare, the Returning Officer for the Chikun–Kajuru constituency, encapsulated the spirit of the exercise, noting it was “transparent” and marked by “cooperation of security agencies, party agents, and voters,” culminating in an outcome reflective of the “will of the people.” This serene electoral environment stands in stark contrast to Kaduna’s past electoral turbulence and symbolizes a deeper social transformation.
Celebrations erupted across Kaduna metropolis and Kujama, where the results were met with enthusiasm and joy: not just for the APC’s victory, but for the dawning of a new political chapter. This jubilation, however, is grounded not in partisan triumphalism but in the collective hope for peace, justice, and equitable governance that has become synonymous with Governor Sani’s tenure. The electoral sweep reflects a consolidation of APC’s popularity across urban and rural constituencies alike, signalling that the governor’s inclusive message resonates widely.
Secretary of Kaduna APC, Yahaya BabaPate, aptly summarised this political moment as “not mere electoral wins,” but “eloquent affirmations of the people’s steadfast faith” in the APC’s ideals and the governance philosophy championed at both federal and state levels. This synergy between President Bola Tinubu’s national leadership and Governor Sani’s state administration is instrumental in advancing the “Renewed Hope Agenda,” which centres on peace, prosperity, and equitable development. Baba-Pate’s words echo a broader reality: Kaduna’s electorate is aligning behind a leadership that listens, serves, and empowers.
On Monday, 48 hours after the huge electoral victory, the governor conferred with stakeholders, leaders, and members of the state APC at the Yar’Adua Hall, Murtala Square. While appreciating the party stakeholders for their sacrifice and hard work that led to the success of the party, the Governor reaffirmed his commitment to inclusive leadership where everyone is carried along, regardless of political, religious, or ethnic affiliation.
Governor Sani’s approach to governance,
marked by inclusivity and pragmatic action, has redefined Kaduna’s political and social landscape. His administration’s commitment to “pro-people, pro-poor, and allinclusive government, with equity, justice and fairness as the foundation for peace and progress” has shifted public expectations and realities. This philosophy manifests in policies that have strengthened security, revitalized rural communities, and fostered social cohesion across Kaduna’s ethnically and religiously diverse population.
Indeed, Kaduna has long been emblematic of Nigeria’s complex socio-political challenges, where ethnic and religious fault lines have often erupted into conflict.
The state’s history since the return to democratic governance in 1999 is punctuated by episodes of violence and political fragmentation.
Against this backdrop, Governor Sani’s emphasis on “party blindness” (when it comes to governance proper) and unity represents a radical departure, a governance model that prioritises shared humanity over
divisive identities. His leadership has shown that political allegiance need not be a barrier to cooperation and common purpose.
This inclusivity is further underscored by high-profile defections from opposition parties to the APC earlier this year, including the notable arrival of former Governor Mukhtar Ramalan Yero, serving and former members of the national and state assemblies, as well as other political stalwarts at a wellattended rally, held at the Murtala Square in Kaduna. Such movements underscore the magnetic appeal of Governor Sani’s policies and the confidence his leadership inspires across the political spectrum. They also signal a realignment in Kaduna’s political culture; one that is increasingly oriented toward development and stability rather than factional rivalry.
Security has been a cornerstone of Governor Sani’s administration and an area where his leadership has yielded tangible dividends.
In collaboration with federal agencies and the National Security Adviser’s office, he implemented a holistic security strategy that blends kinetic and community-based approaches. As a result, Kaduna has witnessed a significant reduction in violence, emerging as one of the safest states in Northern Nigeria. This security transformation has
As Kaduna continues on this promising path, it serves as an exemplar for other nigerian states grappling with similar challenges. Governor s ani’s vision affirms that leadership anchored in empathy, inclusiveness, and pragmatic action can indeed transform societies and foster enduring peace and prosperity.
restored public confidence and created an environment conducive to economic and social development.
Complementing security improvements is the administration’s commitment to financial inclusion. The governor’s Executive Order targeting the formal financial integration of at least 2.5 million previously underserved citizens is a landmark initiative designed to empower marginalised communities and reduce poverty. This move is part of a broader poverty alleviation agenda that focuses on youth empowerment and sustainable economic growth, embodying the administration’s pro-poor ethos.
Fiscal prudence also marks the governance style of Governor Sani. Under his watch, Kaduna State has implemented significant cost-cutting measures, including reductions in the salaries and allowances of political officeholders. This lean approach to governance ensures that resources are redirected toward infrastructure, social services, and development projects.
“We have drastically reduced the cost of governance and that is why we can do certain things,” the governor had remarked, highlighting his administration’s commitment to fiscal responsibility.
This wave of inclusive governance and electoral success delivers a political setback to the coalition aligned with the immediate past governor of the state, Mallam Nasir el-Rufai. Once a dominant figure in Kaduna’s political landscape, el-Rufai and his alliance, including the African Democratic Congress (ADC) and the Social Democratic Party (SDP), have witnessed their influence wane. Their failure to translate online support into votes, and the sparsity of attendance at their rallies, mark a significant decline in their political capital. The electorate’s rejection of their divisive politics reinforces the ascendancy of Sani’s unifying vision. This political realignment reflects a broader national dynamic. Nigeria’s electorate is displaying patience and resilience amid economic reforms and difficult policy decisions at the federal level. Despite challenges such as subsidy removal and inflationary pressures, the public is placing faith in a leadership committed to long-term national revival.
As Speaker of the House of Representatives, Hon Tajudeen Abbas, observed, “This triumph is a clear reflection of the trust and confidence our people continue to repose in the APC under the visionary leadership of President Tinubu, and Governor Sani.” Governor Sani’s leadership style, marked by humility, vision, and inclusiveness, offers a compelling alternative to Nigeria’s often fractious political environment. His administration’s frequent engagement with citizens through town halls and consultations has institutionalised a participatory governance culture.
In his own words, “Our plans were easily understood and welcomed with relief by the populace. The people quickly keyed into our agenda, which was unambiguous: an inclusive governance that is calibrated to leave no one behind.”
This clarity of purpose and responsiveness to the people’s needs have galvanized a broad coalition of support, transcending traditional ethnic and political divides. The Kaduna by-election results, therefore, signify not just political dominance for the APC but a deeper societal embrace of governance rooted in fairness, justice, and shared progress.
As Kaduna continues on this promising path, it serves as an exemplar for other Nigerian states grappling with similar challenges. Governor Sani’s vision affirms that leadership anchored in empathy, inclusiveness, and pragmatic action can indeed transform societies and foster enduring peace and prosperity.
After 36 weeks of relentless training that tested mind, body and spirit, 33 Nigerian Navy personnel have been inducted into the elite Special Boat Services. Chiemelie Ezeobi writes that their graduation not only marked the forging of elite warriors but also reinforced the Nigerian Navy’s commitment to strengthening special operations capabilities in an era of evolving security threats
After 36 weeks of gruelling drills, punishing endurance tests, and the infamous “Hell Week” that has broken many before them, only 33 out of 68 personnel who began the Basic Operating Capability Course (BOC) 19 stood tall at the Headquarters of the Nigerian Navy Special Boat Service (NNSBS) in Lagos, as they were officially inducted into one of Africa’s toughest military units.
The graduation ceremony, held last Friday, was not just a military ritual; it was a testament to resilience, sacrifice, and the Nigerian Navy’s growing emphasis on special operations in tackling Nigeria’s evolving security challenges because for 36 weeks, they were trained on counter-terrorism, counter-insurgency, hostage rescue, anti-piracy, sabotage, infiltration of enemy positions, visitboard-search-and-seizure (VBSS), survival techniques, and amphibious operations.
All these and more were also showcased at the final training demonstration where the graduands underwent a series of intensity drills, from hostage rescue to amphibious manoeuvres, reflecting the demanding training they had undergone.
The ceremony drew an impressive line-up of senior naval officers, including the Special Guest of Honour, Flag Officer Commanding Special Operations Command, Rear Admiral O.O. Soyemi. Also present were Director Special Operations NHQ, Rear Admiral DOC Igbo; Rear Admiral IC Okpalla, CSO NAVDOC; Captain Andrew Zidon, Commander SBS; FOC West Rep, Rear Admiral Mohammed; COMD NAB, COMD JMSTC, COMD WEY, COMDT NNS QUORRA, and other senior officers from naval formations, foreign training partners including the Deputy Defence Attache US Embassy, Mr. Jacob Jones and the proud families of the graduating operatives.
After certificates were presented, badges pinned, and the sacrifices of retired SBS operatives recognised, the
special guest of honour, the FOC Special Operations Command, Rear Admiral Soyemi captured the gravity of the moment in his address where he described the elite unit as strategic assets of national interest.
He further highlighted that “This institution remains a critical pillar in the Nigerian Navy’s special operations capabilities, especially as we navigate the complexities of contemporary security challenges. To the graduates, I offer my heartfelt congratulations as today marks a significant milestone in your professional journey. You have endured 36 weeks of intensive training that has moulded you into elite special forces operators.
“As mentioned earlier by your chief instructor, 68 of you were selected for the training and today, 33 of you have proved your mettle. You have demonstrated mental tenacity, physical toughness and a will consistent with special operations forces around the world. You have every reason to be proud of yourselves.
“Such moments will call for your selfless service and sacrifices, so you must be prepared. Note that your contributions are not just to the Nigerian Navy, but also to national cohesion and development. Indeed, you are strategic assets of national interest.”
Rear Admiral Soyemi further expressed appreciation to the Chief of Naval Staff for the investment in infrastructure and the establishment of the Special Operations Command, which now coordinates all Nigerian Navy special operations.
Speaking later in an interview, Rear Admiral Soyemi placed the day in historical perspective: “You see, the history of special operations in the Nigerian Navy dates back to 2006, when the Nigerian Navy Special Boat Service (SBS) was established. Over the years, the SBS has distinguished itself, performed creditably, and
won laurels both nationally and internationally.”
He revealed that in May 2025, the Navy also established the Nigerian Navy Marines alongside the Special Operations Command to fill capability gaps and coordinate special missions.
On technology, he stressed adaptability: “The SBS has been in existence since 2006, and the use of technology has never been new to its operations. Over the years, the SBS has incorporated a number of technologies, including the use of drones, and has continued to evolve. As situations develop, the SBS adapts and integrates new technologies to remain effective and relevant.”
In the SBS, We Win Before Setting Foot on the Battlefield
For the Commander of the SBS, Captain Andrew Zidon, the graduation was proof of resilience and a testament to the support of the Chief of Navy Staff, Vice Admiral Ikechukwu Ogalla and the instructors who, he said, “stood with the trainees through thick and thin, pushing them to surpass their physical limits”.
Commending the graduates, he said: “In the SBS, we win before setting our feet on the battlefield. This clearly highlights the importance we attach to training and preparation before combat.
“These 33 trainees have weathered the toughest of storms, arrested the fear of the skies and subdued the waters of the sea. This, they have achieved through progressive, unalloyed and malleable special operations training.
“Having endured the crucible of the Hell Week, they have demonstrated the physical fitness, mental tenacity, psychological readiness and emotional toughness required to carry out duties that will be assigned to them by the Nigerian Navy.
“In the course of their training, they have expended thousands of rounds of ammunition and pyrotechnics, burnt thousands of litres of petroleum,
oil and lubricant, swam kilometres at sea, and performed countless hours of high-intensity workouts.
All components of their training modules were carefully orchestrated and tenaciously followed, culminating in today’s graduation ceremony. This training has prepared and equipped them with all the skills required to succeed in today’s dynamic battlespace.
“I have no doubt that we have succeeded in moulding an efficient and compact fighting force, ready for battle. In the words of Sun Tzu, I quote: “Victorious warriors win first, then go to war, while defeated warriors go to war first and then seek to win.”
The Special Boat Services
Modelled after the British Royal Navy’s Special Boat Service, the Nigerian SBS was established in 2006 and has trained with counterparts from the United Kingdom, the United States, and other allied nations.
Its operators are the spearhead of the Nigerian Navy’s unconventional warfare, deployed in maritime counter-terrorism, anti-piracy operations in the Gulf of Guinea, oil theft suppression in the Niger Delta, and joint counter-insurgency operations in the North-East.
Expectedly, selection into the SBS is notoriously tough and is one of the most demanding in Africa as candidates undergo extreme endurance tests, longrange swimming, survival training, demolitions, close-quarters combat, and amphibious warfare.
Therefore, for the 33 newly badged operatives, their journey is only beginning. As Rear Admiral Soyemi posited, they will soon be called upon to deploy the skills honed in months of relentless drills to real-world missions. Their sacrifices, he reminded them, are not only for the Navy but for Nigeria’s unity and security.
For families and friends who witnessed the graduation, the pride was palpable. For the Navy, it was the assurance that a new generation of warriors has been forged as warriors who “win first” through preparation before they ever face the battlefield.
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BUMPY ROAD TO SELFSUFFICIENCY
Africa has to do more to make agriculture worth the while, argues AYUB O. MOHAMMED
MOBILE TELEPHONY AND FIXED LINES
SONNY ARAGBAAKPORE writes that fixed telephone lines are no longer attractive
The arrest of leadership of the al-Qaedalinked Ansaru group is commendable, writes SENATOR IROEGBU
Nigeria's security landscape has begun to shift. Terrorists are surrendering, warlords are falling, oil production is recovering, and communities once silenced by fear are slowly reclaiming public space. The latest and perhaps most consequential breakthrough is the capture of two of the most notorious terrorist kingpins in northern Nigeria. The resilience and determination of the Nigerian people in the face of such challenges are genuinely inspiring.
After months of painstaking intelligence work, Nigerian security forces apprehended Mahmud MuhammadUsman,theself-styled"Emir of Ansaru," and his deputy Mahmud al-Nigeri (Malam Mahmuda)—the mastermind of the Mahmuda terrorist group that had long tormented Borgu, a geo-cultural region stretching across Niger, Kebbi, northern Kwara, and spilling into the Benin Republic. Their arrest has effectively dismantled the command structure of the al-Qaedalinked Ansaru group, notorious for kidnappings, assassinations, and extremist propaganda. For years, Ansaru posed a unique threat—blending local grievances with global jihadist networks, staging ambushes on highways, and attacking security convoys with deadly precision.
National Security Adviser Nuhu Ribadu deserves enormous credit for steering this operation with quiet resolve. Working in concert with the armed forces and intelligence agencies, Ribadu helped deliver what is already being described as one of Nigeria's most consequential counterterrorism successes. In a climate where victories against terror too often feel fleeting, the neutralisation of Ansaru's leadership stands as a rare and decisive breakthrough. Public affairs analyst Farooq Kperogi aptly described it as "a visible, heartening crack in the wall of impunity that these blood-sucking monsters of depravity had built for themselves."
Of course, terror will not vanish overnight. Ansaru's lieutenants remain scattered, and other criminal syndicates continue to plague highways, villages, and farmlands. But the symbolism of this victory is profound: Nigeria has shown that with patience, intelligence, and coordination, even the most entrenched terror networks can be cut down.
This progress builds on broader gains since mid-2023. According to official data, between May 2023 and early 2025,
security forces neutralised more than 13,500 terrorists and armed criminals, while over 124,000 insurgents and their families surrendered. More than 11,000 hostages were freed and 3,843 illegal refineries dismantled, choking off vital lifelines of both terror and economic sabotage.
In the North West, the phenomenon of mass abductions has declined sharply, aided by the elimination of notorious bandit warlords like Ali Kachalla, Halilu Sububu, and Boderi. The North East theatre, once dominated by Boko Haram and ISWAP, has seen insurgent capacity steadily degrade, with fighters surrendering in their thousands—a scenario unimaginable just a few years ago.
In the Niger Delta, oil production has rebounded to 1.8 million barrels per day, the highest in years, after a concerted clampdown on oil theft and pipeline vandalism. Meanwhile, in the South East, the once-feared "sit-at-home" orders imposed by armed separatists are losing their grip, with commercial and social life gradually returning.
Nigeria has also moved to secure its virtual borders. Cybercrime crackdowns and the rollout of the Critical National Information Infrastructure Protection Plan reflect a recognition that the wars of today are waged as much in cyberspace as in forests and villages.
And yet, challenges remain. Kidnappings, though reduced in some areas, still plague highways. Displaced farmers remain reluctant to return to their fields, worsening food insecurity. Cross-border arms trafficking, climate change pressures, and adaptive criminal networks all complicate the security equation. The capture of Ansaru's kingpins is a breakthrough—but unless
sustained, it risks becoming another high point in a cycle of boom and relapse.
The road ahead requires more than battlefield victories. Nigeria needs a whole-of-society strategy that pairs military gains with governance reforms, political dialogue, and economic inclusion. Intelligence-driven policing, regional cooperation to secure porous borders, and genuine community engagement are essential. Equally important is building public trust through transparency, accountability, and consistent leadership—without which victories risk evaporating into disillusionment. The need for these sustained, holistic strategies is urgent and cannot be overstated.
The dismantling of Ansaru's leadership shows what is possible when political will aligns with operational discipline. It is a moment worth celebrating, not because the war is over, but because it proves progress is achievable. Nigeria has long been accustomed to headlines dominated by violence and loss; this capture offers a different kind of story—a reminder that the tide, however slowly, can turn.
The actual test is whether this victory will be treated as an isolated success or as a launchpad for more profound, systemic change. If Nigeria sustains this momentum—combining security with justice, economic opportunity, and social cohesion—the shadow of insecurity need not define the nation's future. The potential for more profound, systemic change is within reach, offering a glimmer of hope in an otherwise challenging situation.
For now, the fall of Ansaru's terror lords is a decisive crack in the edifice of impunity. It must not be the last. Again, it is worth noting that the federal government has revitalised programmes such as the National Park Service's Forest Guard initiative, to reclaim forests used as criminal hideouts, which is promising. However, these measures will yield little if they are not anchored in transparency, consistency, and shared responsibility across federal, state, and local levels. Security, as the old saying goes, is everybody's business. Communities must actively participate in their protection, and civic leaders must work to bridge the gap between citizens and the security apparatus.
Iroegbu, a journalist and security and public affairs analyst, writes from Abuja
Africa has to do more to make agriculture worth the while, argues AYUB O. MOHAMMED
Considering the existing cultures and heritages, Africa is the richest continent in the world beyond monetary value. Nigeria is at the forefront.It is a land of many resources. Amongst these gifts possessed by Nigeria and other neighboring countries are arable land, crude oil, limestone, etc. Efficient use of these materials can quicken economic stability and subsistence. Essentially, nourished and healthy intake of food is vital to the growth of all. Nonetheless, agriculture is not limited to consumption. It cuts across various economical divisions: a source of revenue generation, occupation, a means to improving livelihood of the majority and other opportunities. For example, the Nigerian government informed the public that it will generate an estimate of N1.25 trillion ($803million) from wheat production in the year 2025. This ambitious goal is fostered by initiatives made to bolster food security by providing subsidized agricultural inputs to farmers across the nation while signaling that the sector can be beneficial in the international stage. However, are you aware that the happenings in the agricultural sector in relation to feeding, and the cost of its production in Africa are not too pleasant? This occurs as a result of certain impediments causing the low produce of agricultural extracts. Some of these issues are, foremost, the transportation system as a means of mobilizing farmers to their farms. After harvest, farmers encounter difficulties in conveying themselves and their produce from the field to the market. This trait constitutes itself as an obstacle in getting the crop proceeds to the populace timeously. Also, navigating roads to these farmlands particularly in Nigeria is difficult. The roads are neither motorable nor secure. Due to this farmers are frustrated. The presence of bad roads, banditry and the hike in cost of petrol are all troubling. Commercial drivers inflate fare prices at will which affects the bottom lines of these farmers. Secondly, fertilizers are gotten at exorbitant rates and access to it for cultivation is inconsistent. This poses a challenge to having a timely harvest.
The President of FEPSAN, Abubakar Kassim, explained that the major reason for the increase of fertilizer is lack of implementation of the Fertilizer Control Act of 2019 which regulates the cost and administration of fertilizers in the country. In any case, I strongly believe that it is necessary to have alternative sources that will facilitate the growth and greenness of farm plants. Relatively, the desert still has memory of water. Therefore, it is intrinsic to not forget the pivotal role manure plays in the production of farm produce. Manure popularly known as “cow dumps” is a traditional method engaged by
farmers to augment fertilizers. Usually, dumps are used in rural areas because of its availability. Irrespective, efforts can be made in getting it across urban regions in other to utilize its value.
Also, the use of manure remains crucial because it is an added advantage and cost-effective. Additionally, cows are valuable for other domestic use such as livestock and milking.In some parts of West Africa, the decoction from this animal is known as ‘wara’ and can be likened to milk. It is a nutritious and proteinous. Apparently, inadequate produce of crops will affect the production of feed. As such, I suggest that this area is looked into forthwith as it would assist sustenance in husbandry and smoothen its rough edges accordingly.
Furthermore, the special impacts of farmers need be pointed out. African farmers are not UFO’s. They are aware of the goings-on in the land but without fail, an average man tends to intentionally and systematically resort to mediums to exploit another. For instance, Oyo, Benue, Cross River and others are the most important States in the production of cassava flour commonly called “garri”. Garri is locally made and free from any form of importation. Unfortunately, it finds itself competing with shipped-in commodities. In consideration to that, I suggest that an enforceable price-control regulation be made to checkmate the practice.
Importantly, solving agrarian poverty through mechanization and industrialization is key. German machines such as bulldozers, graders, trucks, etc., are meant to ease man-labour through ploughing even though not financially friendly. However, countries like Kenya and Ethiopia are seen to develop interest in making these machines available particularly for small holder farmers.
Conclusively, agri-business is a prospective avenue to generate income for the benefit of all. Funds, policies are vital to this. These policies will serve as a public assistance scheme that will positively operate for the advantage of Africans and other nations across the globe.
Ayub O. Mohammed, olamideayyub@gmail.com
SONNY ARAGBA-AKPORE writes that fixed telephone lines are no longer attractive
Prospects of fixed telephone lines making headlines are over as many people are no longer excited about installing fixed line in their homes or offices.
The emphasis on mobile telephony has further fueled the disenchantment owing to the flexibility and ease of use.
And despite the myriads of complaints about the service especially poor quality of service and data depletion among others ,Nigerians are still excited about the mobile telephony.
Industry regulators,the Nigerian Communications Commission (NCC) tells us why.
“Fixed line telephones are no longer fashionable elsewhere in the world as millions of people now emphasize the use of mobile phones in their homes and offices” NCC’s Chief Executive,Dr.Aminu Maida explained at a recent interactive session with critical media stakeholders in Abuja.
The few Network Operators offering fixed lines do so only in the city centres through optic fibre connectivity and some via fixed wireless.
These include IPNX, MTN Group, 21st Century Technology, Broadband Connectivity, Spectranet, Tizeti, among others.
Maida who went memory lane brought up the sad reality of Nigerian Telecommunications Limited (NITEL) which provided less than 500,000 lines to over 100m population.
This was before the Digital Mobile LICENCE of 2001 which revolutionized the telecommunications landscape and created a sense of belonging to majority of Nigerians who were starved of connectivity.
The dearth of fixed telephone services and the need to have even spread of mobile services and boost competition may have influenced the licensing of Globacom Limited in 2003 as Second National Operator (SNO).
Globacom Limited with a lorry load of licences including Mobile Telecommunications,Gateway services,fixed line among others has done well as a mobile operator but very minimal presence of its fixed telephony.
But the concept of SNO has run out of fashion as the NCC opened up the sector by awarding the Unified Access Services Licence (UASL) which empowers any of such licencee to offer a montage of telecommunications services including but not limited to mobile,fixed and internet services among others.
Maida admitted that though fixed telephony appears unattractive,it will indeed reduce pressure on mobile services especially with regard to poor quality services,fibre cuts and vandalism which have in themselves become nightmare to everyone including consumers,operators and even the regulator.
But there is solution coming in the horizon with the 90,000 fibre optic ring initiative of the Ministry of Communications,Innovation and Digital Economy through a Special Purpose Vehicle (SPV) and the World
Bank.In general term ,the fixed line is not imposed on any operators in a liberalized market.
The 90,000 optic fibre spread will boost rural connectivity despite the slow pace of the Infrastructure Companies (Infracos)which were Licensed years ago to take services to rural and unserved communities across the country through metropolitan fibre optics.
Apart from Lagos State which got one operator to cover the implementation of Infracos services,the other six geopolitical zones got a licencee each for the same purpose of taking services to the unserved population.
Although the Infrastructure Companies licensed by the Nigerian Communications Commission (NCC) to deploy fiber optic infrastructure and broadband services, particularly in underserved areas has been on a slow lane to its promised land thereby
boosting the spread of broadband connectivity in line with the National Broadband Plan (2020-2025),the NCC Executive Commissioner(Technical Standards).Mr.Abraham Oshadami an engineer,said it is “work in progress”. Oshadami admitted that Infracos are a major component of the National Broadband Plan, which aims to expand internet access and bridge the digital divide across the zones,”the Commission does not inhibit any operators from deploying its services according to the LICENCE instrument as the commission continues to give its support to the Infracos when ever the need arises.”
Apart from Main One Cable which was licensed to deploy services in Lagos,others including Bitflux Communications Limited (Bitflux) for 2.3 Ghz and MTN Nigeria for the 2.6 Ghz licences were expected to deepen broadband services which stood at 22% by December 2017.
The Infracos are MainOne Cable, IHS, Zinox Technology and Brinks Solutions to cover Lagos,North Central including Abuja,South East and North East respectively.
Aragba-Akpore is a member of THISDAY Editorial Board
Editor, Editorial Page PETER ISHAKA
Email peter.ishaka@thisdaylive.com
Much more is needed to make our tertiary institutions competitive
Although the current administration can be accused of hypocrisy for the seven-year moratorium on the establishment of new federal tertiary institutions after creating no fewer than 12 in the last two years, it is nonetheless an appropriate decision in the circumstance. “The unchecked duplication of federal tertiary institutions had led to inefficiencies, poor infrastructure, inadequate staffing, and declining student enrolment,” the Minister of Education, Olatunji Alausa declared after the Federal Executive Council (FEC) meeting last week.
The moratorium covers admissions into universities, polytechnics and colleges of education. According to Alausa the move was aimed at curbing the proliferation of under-utilised institutions, and refocusing resources on improving existing ones. But to demonstrate how unserious the administration is on the issue, the same government also approved the establishment of more private universities.
surprise that most graduates of these universities lack sufficient knowledge, skills and possibly other attributes that will enable them to serve themselves, their employers, and society. These are critical issues that authorities in the sector should pay attention to.
In the last few decades the system has suffered benign neglect, and many are increasingly questioning the ability to maintain comparable standards in the knowledge world
As we have highlighted on several occasions, this cynical approach to tertiary education in Nigeria explains why there is an urgent need for a total overhaul of the sector. Even at that, there is nothing new in the lamentation by Alausa. The Committee on Needs Assessment of Nigerian Public Universities once identified a common problem among Nigerian universities, irrespective of region and ownership: they are all battling with the challenge of poorly equipped laboratories and workshops, outdated equipment, overcrowded classrooms, dilapidated structures, etc. These inadequacies and many other irregularities in the Nigerian education system have contributed to their declining quality.
What the federal government has refused to admit is that many of these public tertiary institutions were established to appeal to the base sentiment of political leaders. That many of them are now choices of last resort for admission of candidates is therefore no surprise. It is also no
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With the proliferation of institutions of higher learning, the implications are clear: limited skilled human resources have contributed to the declining quality that has continued to elicit concern from stakeholders. The situation is exacerbated by brain drain. Many senior academic staff, due to poor remuneration, continue to take their services to countries where they are more appreciated. The depletion of scholars inside faculties is also aided by inability to attract visiting scholars from other academic environments. This problem can be traced to the neglect that the sector has suffered over the years in the hands of successive governments in the country. Unfortunately, this has led to a situation in which the future of many innocent education-seeking young Nigerians is now practically compromised.
Dealing with the challenge of tertiary education in Nigeria requires much more than a declaration of moratorium. There is a dearth of qualified academic staff to drive the universities. Most of the institutions of higher learning are not only suffering from inadequate infrastructure, ill-equipped laboratories, overcrowded classrooms, but they are also ill-staffed. Yet, with a robust environment for learning, quality teachers and international competitiveness, the Nigerian university system once attracted the best from Africa and beyond, to study. The products could match the best anywhere. In the last few decades, however, the system has suffered benign neglect, and many are increasingly questioning the ability to maintain comparable standards in the knowledge world. Now that the declaration of a moratorium on the establishment of these institutions has focused attention on the sector, going forward requires a pragmatic solution to the problem of tertiary education in Nigeria.
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In 2027 elections, Nigerians will not allow INEC and the judiciary to validate electoral fraud. In the 2011 general elections, the Independent National Election Commission (INEC), the electoral management body that organized the elections pulled what may pass as an electoral feat in achieving one of the most open, credible, peaceful and transparent elections in Nigeria’s recent memory. Before that election, Nigeria had the 1999, 2003, 2007 elections, and the Edo 2024 governorship election considered by both national and international election observers, the Commonwealth Election Monitoring groups and the civil society, to be the most disorganized and fraudulent election during which people’s votes were blatantly stolen. Nigeria’s democracy, no doubt, is still nascent, evolving and could be classified as a fraudulent democracy. Go to court for candidates that lose elections in 2027 will not be
tenable.
It is clear that many Judges have abandoned the 2022 Electoral Act. In 2023 Elections, Edo 2024 Governorship Election, Judges from Election Tribunals, Court of Appeal and Supreme Court validated electoral frauds which are threats to 2027 elections. The danger posed by these merchants on the bench sometimes goes to the root of the survival of Nigeria’s democracy, the success of 2027 elections and this is why the Supreme Court recognises that an errant Judge is more dangerous than a thief. I observed that the act of judicial banditry has been demonstrated eloquently by the indiscriminate dishing out of ex-parte orders which mostly are politically motivated. Ordinarily, an ex-parte order is a beautiful remedy in equity, designed to defend the defenceless, against superior powers, but is now dishonestly being used in Nigeria to destroy the de-
fenceless by superior, unprincipled, mean and dishonest persons.
INEC has introduced criminality into the conduct of elections. Electoral frauds and manipulations are threats to 2027 elections. Revelations from Edo 2024 governorship election showed that electoral laws and INEC guidelines were violated and manipulated by INEC. Three sets of Form EC8A results sheet were fraudulently printed and used for Edo 2024 election with the same serial number. Voting and collation of results have been reduced to business of trade. Credible, free and fair elections can help in consolidating democratic values, promote human rights and security. But fraudulent elections promote political instability, corruption and conflict in the polity.
Inwalomhe Donald, inwalomhe.donald@yahoo.com
Bennett Oghifo
The Court of Appeal, Lagos Division, on the 26th day of June 2025, issued an interim order of attachment over Zenon’s property located at 7, Tiamiyu Savage Street, Victoria Island, Lagos, over an unpaid debt between a British National, Mr James Lloyd-Jennings, and Zenon Petroleum and Gas Limited (“Zenon”).
In the Court of Appeal Lagos Judicial Division Holden at Lagos Appeal No: CA/LAG/CV/627/2025
Suit No: LD/2730/2019 between Zenon Petroleum and Gas Limited...Appellant; and James Lloyd-Jennings… Respondent/Applicant; Asset Management Corporation of Nigeria… Respondent.
The Appeal Court also restricted Zenon and the public at large from dealing with the property by any means, until a Motion
on Notice seeking similar orders can be heard, or risk facing the consequences of their non-compliance.
The “Motion Ex-parte dated and filed on 16th June, 2015 for the following: An Order for the interim attachment of the Appellant/ Respondent’s property situate at 7, Tiamiyu Savage Street, Victoria Island, Lagos, also known as Plot 1399A Victoria Island, Lagos), pending the hearing and determination of the Motion on Notice herein seeking an Order for the interim attachment of the subject property, pending such time as the appeal herein is allowed or the issuance of a writ of execution against the immovable property of the Appellant/Respondent
An Order of interim injunction restraining the Appellant/Respondent, whether by itself, or through its agents, privies, affiliates, representatives or any other persons
howsoever, from taking any steps, or any further steps, towards selling, alienating, transferring, registering dissipating, disposing of, mortgaging, charging or, in any way whatsoever, interfering with, affecting or encumbering all or any portion of the Appellant/ Respondent’s property situate at 7, Tiamiyu Savage Street, Victoria Island, Lagos, also known as Plot 1399A Victoria island, Lagos, or its title therein, pending the hearing and determination of the Motion on Notice herein seeking an Order for the interim attachment of the subject property, pending such time as the appeal herein is allowed or the issuance of a writ of execution against the immovable property of the Appellant/Respondent.”
The Appeal Court stated that “It is hereby ordered as follows: That the application is
granted as prayed pending the determination of the Motion on Notice which is fixed for 8/7/25. The Appellant and 2nd Respondent to be duly served before that date.”
It was signed by Musa Mohammed Imam, Esq, Deputy Chief Registrar; A. M. Ayoade, Assistant Chief Executive Officer (Lit) Court Of Appeal Lagos.
On 8th April, 2025, following the conclusion of an action for the recovery of a contractual debt filed by Mr Lloyd-Jennings against Zenon and the Asset Management Company of Nigeria (AMCON) at the High Court of Lagos State sometime in 2019, the High Court, in delivering its Judgement, ordered Zenon to pay Mr Lloyd-Jennings the sum of $1,800,000, being the Agency Fee he is entitled to under an aircraft purchase arrangement. Unhappy with the High Court’s Judgement, Zenon approached the Court
of Appeal to challenge it.
Following an ex parte application made to the Court by Mr Lloyd-Jennings, the Court of Appeal ordered the temporary attachment of Zenon’s Victoria Island property, pending the outcome of a Motion on Notice seeking similar prayers.
According to Court papers, the temporary attachment of the property is crucial in the circumstances, to ensure that Mr Lloyd-Jennings would be able to obtain recovery of the Judgement debt if Zenon’s Appeal proves unsuccessful. The Court papers reveal, further, that Zenon is allegedly mired in huge debts and the property which the Court has attached is its only visible asset.
Affidavits filed by Mr Lloyd-Jennings alleged that Zenon, by an unregistered Deed of Gift, is in the process of transferring its interest in the property. The completion
The Nigerian Institute of Quantity Surveyors (NIQS) is partnering with Lekki Gardens Estate Limited, to build a legacy
of excellence, efficiency, and sustainability. This was an outcome of a working visit to the CEO of Lekki Gardens Estate Limited, Dr Richard Nyong, by the Executive
Council of NIQS, led by their President, QS Kene Nzekwe, FNIQS, during the week.
“We are confident that a collaboration between Lekki Gardens and the NIQS will be
L-R: MD, Oat Construction Nig. Ltd, QS Adesoji Adeniji, FNIQS; NIQS Vice President, QS Bamidele Mafimidiwo, FNIQS; Founder/CEO Lekki Gardens Estates Ltd, Dr. Richard Nyong, OON; NIQS President; QS Kene C. Nzekwe, FNIQS; WAQSN Deputy Chairperson, QS Ololade Sokoya, FNIQS & NIQS Treasurer, QS Theophilus Eguh, FNIQS, during a courtesy visit to the Lekki Gardens CEO… recently
a formidable force for positive change in Nigeria’s built environment,” said Nzekwe at the meeting, where they discussed potential areas of collaboration and mutual benefits.
He said their visit was “not just as professional colleagues, but as admirers of the transformative impact Lekki Gardens has made on Nigeria’s real estate landscape. In a nation with a significant housing deficit, your organisation has emerged as a trailblazer—delivering not just houses, but homes, communities, and tangible assets to thousands of Nigerians. Your vision, tenacity, and innovative approach to mass housing delivery are well-documented and truly commendable. You are building the future of Nigeria, one estate at a time.
“The NIQS, as the professional body responsible for regulating and enhancing the practice of quantity surveying, shares a similar ambition: a future where every construction project in Nigeria is delivered with maximum value, financial probity, and unparalleled efficiency. Our members are the guardians of cost, the experts in project economics, and the drivers of value engineering.”
Nzekwe elaborated on “Areas for Strategic Collaboration”, saying, “We believe a formal partnership between NIQS and Lekki Gardens can unlock even greater value and set new benchmarks for the entire industry.
“We propose collaboration in these key areas: InnovationBased Collaboration: As NIQS develops new tools and
Fadekemi Ajakaiye
In an emphatic display of Corporate Social Responsibility (CSR) gesture for which the company has become well known over the years, Haven Homes-the Lifestyle developers has handed over a beautifully refurbished, fully equipped Medical Centre of the Nigerian Police Force. Located at Onikan under Zone 2 of the Police Command, the commissioning was performed by AIG Fayoade Adegoke who received the facility on behalf of Zone 2. The AIG was assisted by the Deputy Commissioner of Police in Lagos, DCP Bola Ojugbile, the Resident Doctor of the Medical Centre, Inspector Emmanuel Ogboji and other officers of the Police Command. The Chief Executive Officer of Haven Homes, Tayo Sonuga
was represented by the Managing Director, Mrs Ufuoma Ilessanmi who handed over the modern medical facility alongside the Project Manager, John Dike and Marketing Manager, Monterossa Construction Limited, Firas Jaber on behalf of Haven Homes. The facility was designed to be an upgrade aimed at improving the overall wellbeing of patients in the Zone by providing effective and timely health care responses for emergencies that might arise in the course of duty to avoid complications.
According to a statement released by the company: “At Haven Homes, we believe that building a better world starts with creating better spaces,not only for our clients, but also for the wider community.”
The company said, “We are proud to have completed the
full renovation of the Police Clinic at the Zone 2 Zonal Command in charge of both Lagos and Ogun States. This medical facility provides the essential care for the dedicated officers and staff who protect us every day and also takes care of the inmates and suspects in the police custody.”
Whilst acknowledging the good work of the AIG in particular and the Poice in general, the company added,”Our heartfelt appreciation goes to Assistant Inspector General (AIG) Adegoke Fayoade, whose passion for making the police environment safe, conducive, and comfortable for his officers and everyone around him inspired and energized us to embark on this renovation project. His vision set the tone for this project and pushed us to deliver a space worthy of the
people it serves.”
Haven Homes concluded, “From refreshed interiors to upgraded fittings and
modern finishes, every detail was completed with the same care, quality, and excellence that define our homes. For us, this
of this exercise, which is imminent, the Court papers stated, would, in the light of Zenon’s alleged financial incapacity, make it virtually impossible for him to realise his Judgement, if the transfer is allowed to continue unabated.
When approached for comments, lawyers for Mr Lloyd-Jennings from the Law Firm of CLP Legal described the intervention of the Court of Appeal as timely and just, in the circumstances. They explained that the orders made are an affirmation of the rule of law by ensuring that the rights and interests of all parties involved are protected while the legal dispute is being resolved.
All efforts by THISDAY reach the solicitors of Zenon to comment on the issue were unsuccessful, as they did not answered telephone calls or respond to text messages.
frameworks to improve cost management in the real estate and construction sectors, we would be honored to engage Lekki Gardens as an early partner in testing and refining these instruments. This would allow your organisation to shape industry standards while benefiting from first-mover access to advanced tools for improved project planning and execution.
“Talent Development: We envision a partnership that supports the up-skilling of your personnel involved in project delivery, infrastructure planning, and real estate development. NIQS’s QS Academy can design and deliver bespoke, industryaligned training and certification programs to enhance internal capacity and drive efficiencies within your operations.
was more than a renovation, it was an opportunity to invest in well-being, dignity, and safety for all who walk through its doors.”
Fadekemi Ajakaiye
In a landmark move that reinforces its leadership in renewable energy, JMG Limited has installed a 129kWp hybrid solar system at its Head Office, using premium
solar technology from Longi and Deye. This hybrid installation combines Longi 575W solar panels, Deye highefficiency hybrid inverters, and 122.9kWh of DEYE High voltage lithium-ion
battery storage, designed and managed entirely by JMG’s SOLAR Division. With the capacity to deliver 15.48MWh of clean energy monthly, covering 90% of the building’s total energy needs, the project is set to
eliminate over 71 tons of CO₂ emissions per year and dramatically cut diesel costs. In fact, the solar system is now saving JMG over 34,800 liters of diesel per year, equivalent to nearly N40 million in annual savings.
“We’re not just promoting clean energy. We’re running on it,” said Hussein Abbas, Head of JMG’s Solar Division. “Our Head Office now leads by example, proving that smart, scalable solar solutions are ready for today’s
commercial challenges.” The system features a smart monitoring interface, dual rooftop and carportmounting for space efficiency, and marks a pivotal step toward a greener corporate future.
Kayode Tokede
On the back of Monetary Policy Rate (MPR), currently at 27.5 per cent, Ecobank Transnational Incorporated and four other financial institutions generated N2.22 trillion from lending to their customers in the half year ended June 30, 2025.
This is about 40 per cent increase over N1.58 trillion generated for the same period ended June 30 2024.
The remaining financial institutions are: First Holdco Plc, Wema Bank Plc, FCMB Group Plc and Sterling Financial Holdings Company Plc.
This excludes giants like Zenith Bank Plc, Fidelity Bank Plc, Guaranty Trust Holding Company Plc, among others who earlier released their audited result following the Central Bank of Nigeria (CBN) approval.
In the period under review, interest rate in Nigeria steadied at
27.5 per cent as the CBN double its effort at tackling double-digit inflation rate.
While the average global lending rate sits below 10 per cent, many African economies have interest rates far above 20 per cent where the likes of Ecobank Transnational Incorporated and First Holdco have branches.
This creates a tough environment for businesses and customers who need access to credit.
In countries where
The ‘2025 Nigerian Banking Industry Report’ released by Agusto & Co has revealed that a total of N1.7 million was raised by 16 banks in 2024, with an additional N800 billion raised already as of August
2025, in intensified efforts to comply with the Central Bank of Nigeria’s (CBN) recapitalisation directive.
According to the report, an additional N900 billion is expected to flow into the sector before the end of the year, adding to the over
N2.5 trillion already mobilised in the last 19 months.
The report, which comprehensively reviews the industry’s financial health, regulatory environment, and growth trajectory, revealed that eight banks have already met the CBN’s
inflation is high or the local currency keeps losing value, central banks often respond by raising interest rates. This makes borrowing more expensive but is seen as a way to protect the economy. However, this approach also comes with downsides: it slows down growth and limits job creation.
In oil-producing countries like Nigeria and Angola, high interest rates continue despite strong export revenues. In others, like Zimbabwe and Ghana,
weak currencies and rising prices are major drivers.
A breakdown of the five banks’ result showed that Ecobank Transnational Incorporated declared N750.59 billion interest on loans to customers in H1 2025, about 17.08 per cent increase over N641.08 billion in H1 2024 while First Holdco posted N910.32 billion interest income from loans to customers in H1 2025, representing an increase of 60.01 per cent from N568.9
billion declared in H1 2024.
On its part, FCMB Group announced N299.15 billion interest income from loans and advances to customers in H1 2025, up by 55 per cent from N192.46 billion reported in H1 2024. Wema Bank reported N141.01 billion interest income on customers loans in H1 2025, about 49.6 per cent hike over N94.25 billion reported in H1 2024.
minimum paid-up capital requirement, well ahead of the March 2026 compliance deadline.
Agusto & Co. praised Nigerian banks’ resilience in the face of global and domestic headwinds, particularly the high interest rate environment and contractionary
stance of the monetary authorities. Despite these pressures, the industry has remained highly liquid.
The report also revealed that, as of December 2024, banks posted a liquidity ratio of 59.4 per cent, up from 43.5 per cent a
year earlier. The ratio is projected to surpass 60 per cent in 2025, driven largely by favourable yields on government securities and innovative funding strategies such as commercial paper issuances.
Nume Ekeghe
Nigeria’s ambition of attaining a $1 trillion economy by 2030 is attainable but will hinge on bold policy choices and disciplined execution, analysts at Norrenberger have said.
In their H2 2025 Economic Outlook titled, “The Great Recalibration: From Shock to Calm,” stated that while recent currency depreciation has eroded Nigeria’s nominal gross domestic products (GDP)- now at $237.5 billion, Nigeria retains strong fundamentals, including its vast natural resources, youthful population, and large domestic market.
growth of at least 22 per cent and exchange rate stability around N1,200/$, the country can reposition itself on a sustainable path to achieving its target.
It stated: “The Nigerian government has set a bold ambition of becoming a $1 trillion economy by 2030. However, as of 2024, the country’s nominal GDP (rebased figure) stands at approximately $237.5 billion, significantly lower than the $589.6
billion and $341.2 billion recorded in 2022 and 2023, respectively. This sharp decline, despite moderate growth in naira terms, is largely attributed to the significant depreciation of the local currency.
“With just five years left to meet the 2030 target, Nigeria’s current growth trajectory which averages around 4 per cent real and 15 per cent nominal annually, falls far short of the pace required.
The report argued that with annual nominal
Mutual Benefit Assurance plc, has said it recorded strong financial performance in its business outing in 2024 growing its profit before tax by 92 per cent from N6.28 billion in 2023 to N12.23 billion in 2024.
The company also said it increased the
quantum of claims paid to its insured by 53 percent from N18.99billion in 2023 to N29.084 billion in 2024.
Ebere Nwoji
Veritas Kapital Assurance Plc, has reported robust financial results for the first half of 2025 (H1 2025), highlighting
sustained momentum and reinforcing its position as a resilient player in Nigeria’s nonlife insurance industry.
The company said amidst a challenging economic environment, it recorded N13.6 billion in Gross Premium Written, showing 8 per cent increase. Net Insurance & Investment Income surged by 244 percent to N5.2 billion, from N1.52 billion achieved in full-year 2024. while Profit After Tax stands at N3.2 billion, already exceeding the company’s total earnings for the fullyear 2024.
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor
Emma Okonji
Asst. Editor, Money Market
Nume Ekeghe
Senior Correspondent
Raheem Akingbolu (Advertising)
Correspondents
Emmanuel Addeh (Energy)
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
Reporters
Nosa Alekhuogie (ICT)
Peter Uzoho (Energy)
Ugo Aliogo (Development)
Mutual Benefit Assurance Chairman, Dr Akin Ogunbiyi, who stated these at the 28th and 29th Annual General Meeting of the company held in Lagos said despite the challenges in the economic landscape of our country, Mutual Benefit had demonstrated remarkable resilience and agility, achieving significant growth across key performance indicators.
This, according to Ogunbiyi, underscores the company’s commitment to delivering value for its shareholders.
He said, “The 2024 financial year saw strong performance across several fronts.
Our insurance revenue rose to N66.92 billion, a 68 percent increase from N39.92in 2023”.
The Nigeria Insurers Association (NIA), on Monday launched a technology innovative hub tagged, NIA Innovation Lab.
NIA said this is
a facility designed to accelerate digital solutions and reshape insurance practice in the country.
The launch of the technology lab comes barely two weeks after insuretech firms
Vice President Kashim Shettima will lead discussions at the 24th Annual International Conference of the Chartered Risk Management Institute of Nigeria (CRMI).
In a bid to empower his constituents and promote economic development, Senator Aliyu Magatakarda Wamakko, representing the Sokoto North Senatorial District, has
The institute in a statement, noted that the conference is scheduled to take place in Lagos.
commenced operation in insurance industry as directed by the National Insurance commission in its recently released guidelines for the operations of the firms.
Speaking at the launch of the lab, which took
place at the Insurers’ house, Saka Tinubu, Victoria Island Lagos, NIA Chairman, Mr Kunle Ahmed, said the initiative marked a milestone in repositioning the industry for a technology-driven future.
Themed: “Global Risks, Local Solutions,” the two-day summit will bring together senior policymakers, regulators, business leaders, and risk experts to address the world’s most pressing challenges from climate change and financial volatility to artificial intelligence and public health threats.
launched a large-scale distribution initiative.
The initiative, which kicked off saw the distribution of 1000 motorcycles, 10,000 50kg bags of rice, sewing machines, and water pumping machines to beneficiaries from Silame, Binji, Gudu, and Tangaza
Local Government Areas. According to a press statement signed by Bashar Abubakar, SA Media & Publicity, the distribution exercise was part of Senator Wamakko’s efforts to empower his constituents and promote economic
The conference also marks the first major outing of Mr. Kevin Ugwuoke as President and Chairman of CRMI’s Governing Council.
development in the state. Speaking on behalf of Senator Wamakko, Nasiru Italy, an APC youth leader in the state, emphasized that the Senator’s leadership style is inclusive, extending beyond the Sokoto North Senatorial District.
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 18 August-2025, unless otherwise stated.
Oluchi Chibuzor
Africa’s global bank, United Bank for Africa (UBA) Plc, has secured a N5 billion loan facility from the Bank of Industry (BOI), to boost key sectors of the economy and support the growth of sustainable and viable businesses in the country, especially the micro, small, and medium enterprises (MSMEs) owned by women.
UBA’s Group Managing Director/CEO, Oliver Alawuba, who spoke about the facility emphasised the bank’s commitment to fostering economic growth by empowering MSMEs, which he described as the
livewire of any developing economy.
He said, “At UBA, we recognize the pivotal role MSMEs play in driving economic development, and how they make up a sizeable portion of what drives our economic growth. It is in this vein that we have decided not to rest on our oars by facilitating initiatives dedicated to empowering businesses with the financial support they need to thrive.”
Alawuba maintained that, “by offering loans at a competitive 9% interest rate with a three-year tenor, we are removing the traditional barriers that hinder SME growth in Nigeria and Africa.
And by this, our message to business owners is simple: Don’t let this once-in-a lifetime-opportunity elude you,”
UBA’s Group Head of Retail and Digital Banking, Shamsideen Fashola who highlighted the strategic importance of the targeted sectors to the nation’s continued growth, noted that the initiative will strengthen financial inclusion and set the country and indeed the continent on the path of sustainable development.
“We are structuring this facility to align with our broader mission of financial inclusion and economic empowerment.
Kayode
Tokede
Speakers at the 2025 Production and Manufacturing Business Summit have urged Nigerian entrepreneurs to shift their focus from lamenting challenges to harnessing opportunities, stressing that mindset, execution, and innovation remain the true drivers of business success in the country.
Delivering the keynote address, founder of House of Tara International, Mrs. Tara Fela-Durotoye, warned that amplifying negativity
about Nigeria was discouraging growth and undermining the confidence of the next generation of entrepreneurs.
“Doing business here is tough, I won’t deny it. But Nigeria made me who I am today, and it can make you too,” she declared. “If all you ever dwell on is hardship, that’s all you will ever see. We must choose to change the story.”
She explained that while entrepreneurs often discuss unreliable infrastructure, inconsistent policies, and staffing problems, allowing such issues to dominate
every narrative creates a climate of hopelessness.
“The story we tell about Nigeria can either attract or repel growth. As entrepreneurs, our role is not only to innovate and employ but also to speak positively about our environment,” she stressed.
Beyond changing narratives, Mrs FelaDurotoye advised business owners to invest in training, treat suppliers and partners with trust, and ensure proper succession planning across all levels of their companies.
The spotlight is set to shine on Nigeria this September as the country prepares to host the continent’s largest elevator and escalator industry exhibition — Lift Expo Nigeria 2025. Scheduled to take place from September 2nd to 4th at the prestigious Landmark Centre, Victoria Island, Lagos, the event is the first of its kind in the country and promises to be a defining and informative moment for vertical transportation in Africa. Organised by Expert International Fairs Org.Co.
in collaboration with Mena Management, Lift Expo Nigeria is poised to bring together over 80 global exhibitors from Germany, Turkey, China, India, France and many more including leading manufacturers, engineers, and innovators in elevator and escalator technology. “This is more than just an exhibition,” said a spokesperson for the organisers. “It’s a landmark gathering of the world’s lift industry leaders under one roof — and it’s happening right here in Nigeria”. With a mission to
spotlight industry innovation and strengthen market presence, the event aims to raise visibility for the sector while connecting key stakeholders across the region. It targets leading players in construction, engineering, real estate, and infrastructure development, drawing in business executives, property developers, and policymakers from across Africa. Attendees will gain firsthand access to the latest innovations in lift systems, smart technology integrations.
Sunday Ehigiator
LAPO Microfinance Bank has reaffirmed its commitment to youth empowerment with a series of events marking the 2025 International Youth Day (IYD), celebrated annually on August 12.
This year’s IYD, themed, “Local Youth Actions for the SDGs and Beyond,” underscored the role of young people in driving sustainable development
through innovation, collaboration, and digital engagement.
To commemorate the occasion, LAPO MfB in a statement yesterday, said it rolled out a month-long programme anchored on economic empowerment, digital technology, and education. The bank, which has spent over three decades championing financial inclusion and community development, said the initiative was designed to provide young people with tools and opportunities to thrive.
“The celebrations began with a partnership with the University of Lagos Mass Communication Students’ Association (MCSA) Week, where students, entrepreneurs, and industry leaders engaged in workshops, mentorship sessions, and competitions.
Kayode Tokede
The domestic stock market yesterday depreciated by N1.33 trillion on investors’ profit-taking in Dangote Cement Plc and 38 others quoted companies on the Nigerian Exchange Limited (NGX). As the stock price
of Dangote Cement dropped by 9.88 per cent, the market capitalisation dropped by N1.33 trillion or per cent to close at N90.227 trillion as against N91.561 trillion it opened for trading. With the 9.88 per cent drop in Dangote Cement, investors lost
an estimated N961.79 billion in one-day.
The NGX All-Share Index declined by 2,109.00 basis points or 1.46 per cent, to close at 142,613.47 basis points to drag dragged the year-to-date (YTD) return down to 38.56 per cent, from the 40.61 per cent in the prior
session.
Investor sentiment, as measured by market breadth, closed negative as 26 stocks advanced, while 39 declined. Nigerian Enamelware recorded the highest price gain of 9.95 per cent to close at N35.90, per share.
DAAR Communication
followed with a gain of 9.82 per cent to close at N1.23 and Deap Capital Management & Trust up by 9.60 per cent to close at N1.94, per share.
Academy Press appreciated by 8.43 per cent to close at N9.00, while International Breweries rose by 6.95 per cent to close at
N13.85, per share.
On the other hand, Royal Exchange led the losers’ chart by 10.00 per cent to close at N2.52, per share. Dangote Cement followed with a decline of 9.88 per cent to close at N520.00, while R.T. Briscoe lost 9.87 per cent to close at N3.56, per share.
Ifedolapo Runsewe is the Managing Director of FREEE Recycle, an integrated recycling company converting tyre and rubber waste into eco-friendly products. The organisation recently launched an artist residency programme, which brought together students from tertiary institutions across Nigeria to transform discarded materials, such as rubber and steel, into artworks that explore and reinterpret Nigerian history and culture. In this interview with Funmi Ogundare, she explained why redefining the value of waste is key to driving cultural, social, and policy change
How has FREEE Recycle’s work in transforming tyre and rubber waste into eco-friendly products contributed to environmental protection and job creation in Africa?
FREEE Recycle is an integrated recycling company committed to transforming tyre and rubber waste into useful, eco-friendly products. Our mission is to recycle waste products in Africa for African consumption and to explore export potentials. Since our inception, we have successfully recycled over 350,000 waste tyres, preventing significant environmental harm and manufacturing valuable products such as paving tiles, rubber rollers, eco-friendly flip-flops, fashion accessories, and other materials suitable for residential, commercial, and industrial settings. Our work addresses a critical need, which is reducing pollution while creating local value, jobs, and scalable solutions rooted in the circular economy.
Your organisation recently launched its first-ever residency programme for students. What inspired the idea?
The FREEE residency was birthed from a desire to merge sustainability with creative exploration. Although we are grounded in manufacturing and recycling, we recognise the transformative power of culture and art to challenge perceptions and inspire change. The FREEE residency programme invites artists to engage with sustainability not just as a theme, but as a practice, leveraging their
unique storytelling to spark awareness and innovation in how we treat waste.
What does the theme of the residency, ‘Echoes of Reclamation: Rebuilding Heritage from Waste’, represent, and why is it significant in today’s environmental conversation? The theme ‘Echoes of Reclamation’ is a powerful metaphor for reclaiming both physical and cultural values. It challenges the notion that waste is worthless. The
theme speaks to rediscovering heritage through discarded materials and reimagining sustainability as something deeply rooted in identity, legacy, and collective memory of not just materials. However, in a world that is increasingly dealing with the consequences of overconsumption and environmental degradation, it is important to reclaim both our resources and our understanding of what holds cultural value.
The artists are currently working with discarded materials like rubber, steel, and fibre. Why use waste to explore culture, and how does that tie into your bigger sustainability goals?
As a company, we have always believed in pushing boundaries and challenging traditional views on recycling. We recognise that culture is not static and evolves with the tools, materials, and values of its time. We are redefining both art and recycling. These materials, often overlooked, become vessels for storytelling and tools for social commentary. This aligns with our broader goals to unlock value from waste, showcase its potential, and expand the narrative around what recycling can look like when paired with creativity and cultural insight.
What kind of impact do you hope this residency will have on the students, public, and the perception of waste in Nigeria?
Broadly speaking, the FREEE residency programme is a catalyst for deeper dialogue, wider engagement, and systemic change in how
we think about circularity in Nigeria. We want the artists to leave more equipped, more ecoconscious, and more inspired. For the public, we want to ignite curiosity and shift the perception of waste from a problem to a possibility.
Your organisation has processed over 350,000 used tyres since its inception in 2020. Beyond the numbers, what would you say are some of the less visible wins or lessons from that journey?
While the numbers are certainly impressive, the real wins for us lie in the deeper, less visible outcomes. We have learned that sustainability is a continuous journey, not a one-time achievement. We’ve fostered strong community ties, promoted tyre recycling awareness, and created economic value by converting waste into useful products. Through our NGO, FREEE Impact Foundation, we’ve also driven social impact - donating 1,650 school sandals, 350 school bags, and installing dog-bone and zigzag pavers made from recycled materials in 11 school playgrounds. On the operational side, we also refined our processes, developed innovative upcycling techniques, and forged impactful partnerships with governments, businesses, and local communities to create a more circular economy. As I said earlier, sustainability for us is a journey, not a destination.
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Mary Nnah
The Presidential Launch of RenewHER Gala and Awards Night marks a significant milestone in Nigeria’s women’s health history, highlighting the power of health education in transforming lives.
By providing women with accurate and reliable health information, RenewHER aims to empower them to make informed decisions about their health, thereby improving their overall well-being.
RenewHER, a data-driven, tech-enabled, and financially intelligent strategy, aims to revolutionise women’s health across the country. At the heart of this initiative is the belief that empowering women through health education is key to transforming their lives and communities.
The launch event will feature the unveiling of the ‘Women’s Health Nigeria’ Digital Media and Communications Hub, a powerful national platform for health advocacy, public health education and storytelling.
This hub will serve as a central resource for women to access accurate and reliable health information, enabling
them to make informed decisions about their health and well-being.
The Women’s Health Nigeria Magazine, a signature publication of the initiative, will also play a crucial role in amplifying women’s voices, highlighting innovations, and complementing national efforts on six priority areas: maternal, newborn and child health; sexual and reproductive health; adolescent health and menstrual equity; nutrition and preventive care; healthcare workforce and access; and community coalition building.
The evening will feature a P presidential keynote address, the premiere of the RenewHER campaign film, a cultural showcase, the Health Innovator Awards, and a national pledge moment. These events will help galvanise support for the initiative and inspire action to improve women’s health nationwide.
According to Dr. Adanna Steinacker, “RenewHER is more than an initiative. It is a national call to action to redefine the future of women’s health and economic equity in Nigeria. With the Women’s Health Nigeria Hub and Magazine,
we are building a movement that will transform policy, empower communities, and inspire the next generation of health champions.”
The initiative has garnered strategic partnerships with key organisations, including the Nigeria Governors’ Forum (NGF), Nigeria Governors’ Spouses Forum (NGSF), Federal Ministry of Health (FMOH), the Maternal and Neonatal Mortality Reduction Innovation Initiative (MAMII), and the Women in Healthcare Network (WIHCN). These partnerships will help to drive measurable health outcomes while creating economic opportunities for women through behavior-led financial reward systems, digital wallets, access to microgrants, skills training, and support for women-led health innovations. Through these efforts, RenewHER aims to empower women and girls across Nigeria, providing them with the knowledge, resources and support they need to thrive. By prioritising women’s health and economic equity, this initiative has the potential to transform the lives of countless women and girls, ultimately creating a healthier and more equitable society for all.
Oluchi Chibuzor
The Administrator of Starfield College, Fagba, Chris Eigbe, has applauded parents’ commitment to their children’s educational needs despite the prevailing economic challenges in the country.
Speaking in Lagos during the graduation of the class of 2024/2025, Eigbe, the Director of Studies, urged them not to relent in their support for the graduands in the next phase of their careers, as the best is yet to come.
“On behalf of the school and the management, we appreciated your financial support towards your children despite the soaring inflation and economic challenges the outbreak has witnessed recently.
“It has been a demanding year for all of us. The economy has tried us sorely, but we are
here smiling and feeling good, glory be to God. Not only that, the examination bodies have tried your patience, but you remain undaunted, your support for children never wavered, and your focus on their success in life never shifted.
“As they step out of Starfield College, I am sure that these children in their public and private life will honour you and make you proud; your efforts and guidance in them will not be in vain,” he said.
The Principal, Sara Oyinloye, challenged the parents not to withdraw their support, guidance, and love, which have played a vital role in shaping the individuals the graduates have become.
Tola Talabi
If you’re reading this, chances are you’ve experienced a power outage today. Maybe you’re running on a generator, or lucky enough to have solar and battery backup. Either way, you know Nigeria’s electricity crisis affects every aspect of life, from the cost of doing business to the quality of healthcare and education our families receive.
Every major leap in Nigeria’s economy has been triggered by a structural shift. Just as telecoms and banking were revolutionized through liberalization and private innovation, the power sector is now on the brink of a similar transformation, this time through embedded generation.
The Telecom Revolution: From Scarcity to Ubiquity
In the 1990s, getting a phone line meant bribes, long waits, and limited access. But the 2001 GSM revolution changed that. Within a decade, subscriptions jumped from 500,000 to over 100 million. The key was not government investment, but liberalization and private capital. MTN, Glo, and Airtel built the backbone, and telecoms now contribute over 10 per cent of GDP.
The Banking Revolution: From Elite Privilege to Mass
Finance used to be the domain of foreign banks and elites. But consolidation and fintech changed that. Today, services like PiggyVest and PalmPay make financial access ambient, so much so that market traders in Aba are able to transact as easily as bankers in Ikoyi. Like telecoms, banking became invisible infrastructure.
Despite our size and ambition, Nigeria faces a power supply gap of 30–40 GW, generating only 4–7 GW daily, woefully inadequate for a nation of 227 million people. By comparison, South Africa produces nearly 60 GW and Egypt about 61 GW. The consequences are profound. Selfgeneration through diesel or petrol generators costs three to five times more than grid power, draining resources that could fuel growth. Businesses lose an estimated 20–30 per cent of potential output due to frequent outages, while manufacturers and tech firms struggle to scale without consistent supply. Hospitals face particular risks, relying heavily on costly backup systems that undermine service quality. Without reliable electricity, every other sector: fintech, agriculture, education, healthcare, remains constrained, unable to reach its full potential.
The Embedded Generation Opportunity
Embedded generation is power produced within the distribution network, right where it’s needed. Instead of relying on transmission from distant plants through the fragile national grid, embedded plants serve local areas directly. Why is this game-changing?
Nigeria’s power sector has three main links: generation, transmission, and distribution, each facing its own persistent
challenges. Generation is often hampered by gas supply constraints and underutilized capacity. Transmission remains the weakest link, with an aging, unreliable grid that suffers frequent collapses. Distribution, though improved in recent years, still struggles with infrastructure losses and revenue collection.
Embedded generation offers a way to bypass the most fragile part of the chain, transmission, altogether. By producing power within the distribution network, it eliminates the risk of grid collapse disrupting supply. Even when the national grid fails, embedded systems can continue delivering electricity to consumers.
Elektron’s Approach: RingFencing for Reliability
At Elektron Energy, we’ve pioneered a model that “ring-fences” specific commercial and industrial clusters with dedicated embedded generation. This means creating power islands that can operate independently of the national grid while still being connected to it for backup and optimization. Here’s how it works in practice:
Our 30MW Victoria Island Power Project, due in Q2 2026, will deliver uninterrupted power to Lagos’s premier business hub, home to banks, multinational corporations, hotels, and high-end residential complexes . Built through Victoria Island Power Ltd (VIPL), it exemplifies how bankable, large-scale embedded generation is possible in Nigeria.
Wärtsilä, our EPC partner, will supply three 10MW gas engines and manage operations. Their modular, reliable technology is tailored to Nigeria’s needs.
When the grid fails or becomes unreliable, the embedded plant ramps up to meet local demand. Customers get the best of both worlds: grid power when available, and guaranteed backup when it’s not.
Embedded generation is even more critical for industrial zones. Places like Oba Akran in Ikeja, home to manufacturers like Mouka Foam and Michelin, lose millions during outages. Consistent power enables full-capacity production, job creation, and economic growth. Similarly, Kano’s Tokarawa Industrial Area hosts over 300 manufacturers. Reliable local power could boost their competitiveness and export potential.
Embedded generation doesn’t compete with DISCOs, it strengthens them. Our model creates public-private synergy by enabling developers to invest in vital infrastructure upgrades such as transformers and smart grids. DISCOs, in turn, gain new revenue streams from wheeling charges and, in some cases, equity stakes in the projects. More reliable power leads to higher customer satisfaction and better payment rates, while reducing pressure on the national transmission network. Our partnership with Eko Disco for the Victoria Island project exemplifies this approach; they recognised that only private investment could address challenges beyond their direct control.
Beyond technology, financing is crucial. The VI Power Project sets a precedent for how private capital and guarantees can unlock large-scale energy infrastructure.
InfraCredit’s guarantee bridges the trust gap between developers and financiers, making long-term naira loans viable and aligning with infrastructure’s extended cash flow timelines, solving the mismatch created by short bank tenors.
Complementing this, ARM-Harith’s $250 million private equity backing brings not only capital but also strategic expertise, with a focus on energy and impact that makes them an ideal partner for scaling embedded generation nationwide. Additional support from the Nigeria Sovereign Investment Authority, Bank of Industry, FBNQuest Merchant Bank, and Stanbic IBTC Infrastructure Fund further validates the strength and credibility of the model.
The regulatory framework is finally catching up. In 2024, the Nigerian Electricity Regulatory Commission (NERC) mandated DISCOs to procure 398MW from embedded generation, at least 10 per cent of their allocated load.
This signals clear intent: private innovation is now central to national energy strategy.
Like GSM licensing in 2001, it’s a shift from monopoly to market-driven growth.
The benefits go far beyond keeping the lights on. In manufacturing, embedded power can cut energy costs by as much as 70 per cent, making local products more competitive. In services, industries like data centres and digital platforms depend on round-the-clock power to operate. For small businesses, lower energy costs free up funds for growth and hiring. Reliable electricity also draws foreign manufacturers and investors, who see consistent power as a key factor in investment decisions.
Nigeria isn’t the first country to face these challenges. Bangladesh raised electricity access from 47 per cent to 95 per cent in just a decade using embedded systems. In India, industrial clusters with dedicated power now lead in pharmaceuticals and textiles.
The Philippines uses embedded generation to sustain manufacturing and tourism in off-grid areas. The common thread: local power solutions + private investment + enabling policy.
For embedded generation to drive Nigeria’s next economic leap, it must scale quickly. Victoria Island is just the start, Lagos, Kano, Port Harcourt and other cities need similar projects. Financing must be tailored, with DFIs and banks offering long-term products. Policy from NERC and State Regulatory Commissions should stay consistent and enabling. Smart technology—storage, demand management and efficiency—must be built in. And we must cultivate the skilled workforce of technicians and engineers needed to operate and expand the sector.
Nigeria’s population and economic ambitions are outpacing our infrastructure. Every year without reliable power is a year of lost opportunity.
But the pieces are finally in place: the technology, capital, partners, and political will. The only thing left is action, fast and decisive.
Because the next great Nigerian revolution isn’t digital. It’s electrical. And until power becomes as invisible and reliable as the network behind your calls or the code behind your bank app, every other innovation is building on sand.
At Elektron Energy, we’re not just building plants. We’re laying the electrical foundation for Nigeria’s next chapter.
The question is whether Nigeria will seize this opportunity quickly enough to maintain its position as Africa’s leading economy, or whether we’ll watch other countries leapfrog ahead while we remain trapped in the cycle of blackouts and generators. The choice is ours. The time is now!
•Tola Talabi is the Managing Director and Co-CEO of Elektron Energy, a leading Nigerian energy infrastructure development company.
Managing Director/Chief
Executive, Jaiz Bank Plc, Dr. Haruna Musa, yesterday, unveiled the bank’s new corporate identity, aimed at delivering accessible, ethical banking that celebrated the country’s rich cultural and
values intact, bank fully compliant with CBN’s minimum capital requirement platforms, and reaffirm com- mitment to ethical, inclusive, and customer-focused banking.
religious diversity. Musa stated that the rebranding was “not just a cosmetic change. It is a bold statement of intent. It is about who we are, what we stand for, and the future we are building”.
Addressing journalists on the unveiling of the bank’s new corporate identity, in Abuja,
Musa said despite unveiling a new logo, payoff line, and vibrant colour palette – to usher a new era -- the bank’s foundation, particularly values and Shariah-compliant principles that had always defined the bank, remained unchanged.
He also said the bank was now fully compliant with the
minimum capital requirement set by the Central Bank of Nigeria (CBN), ahead of the March 2026 deadline.
Nonetheless, the managing director said the change in corporate identity transcended a ceremonial rebrand, reflecting the institution’s deliberate effort to refresh its identity, modernise
Traxport Rail Services Ltd, a Nigerian rail freight company focused on delivering efficient and modern logistics solutions, has announced the signing of a Technical Support and Investment Agreement (TSIA) with Vecturis, a leading Belgian rail operations and management company.
In a statement yesterday, Traxport described the deal as a ‘major milestone’ in its mission to deliver operational excellence and sustainable rail freight solutions in Nigeria.
The agreement followed the recent investment by CET Group in Traxport Rail Services Ltd and will see Vecturis pro- vide hands-on technical and managerial support as Traxport scales freight rail operations along the Lagos–Kano corridor and beyond.
Chairman of Traxport Rail Services Ltd, Emeka Ndu, commenting on the agreement, pointed out that it will reshape Nigeria’s transport future in a cleaner, safer, and more efficient way.“This partnership marks a turning point for Traxport Rail
Services. Vecturis’ wealth of experience in similar markets will enable us to leapfrog operational challenges and fast-track the delivery of modern, sustainable freight rail solutions for Nigeria.
“Together, we are not just moving goods—we are helping reshape Nigeria’s transport future in a cleaner, safer, and more efficient way, with LNGpowered locomotives that will also be moving LNG and CNG products across the country,” Ndu stated.
The Chief Executive Officer (CEO) of Vecturis, Eric Peiffer, noted that the collaboration will
sylvester idowu in Warri
Delta State Governor, Rt. Hon. Sheriff Oborevwori, yesterday inaugurated an 80-Bed Renewed Hope Mother and Child Hospital as well as doctors’ quarters at Ugbuwangwe area of Warri. The project was built by the federal government through the Office of the Senior Special Assistant to the President on
Sustainable Development Goals (SDGs), and handed over to the Management of the Federal Medical Centre, Asaba.
Declaring the facility open, Governor Oborevwori, represented by his Chief of Staff, Prince Johnson Erijo, commended the federal government for the project siting in the state. He said the facility will
enhance health development in the state noting his administration, on its part, has invested much and will continue to invest in the sector for the betterment of the citizens of the state.
An elated Olu of Warri, Ogiame Atuwatse 111, whose fourth coronation anniversary kicked off same day, expressed appreciation to the federal government for the project.
see the company combine its technical expertise with Traxport’s vision and local drive, to deliver the needed quality performance.
“We are delighted to for- malise our collaboration with Traxport Rail Services. Nigeria has one of the most promising rail freight markets in Africa, and our previous engagement in the sector has given us a clear understanding of its opportunities and challenges.
He said, “As we step into this new era, we remain steadfast in our mission: to redefine ethical banking in Africa and beyond.
“Today is more than just a celebration of a new look; it is a defining milestone in our journey, nearly 14 years since we pioneered Non-Interest (Islamic) Banking in Nigeria.
“This event goes beyond a ceremonial rebrand. It reflects our deliberate effort to refresh our identity, modernise our platforms, and reaffirm our commitment to ethical, inclusive, and customer-focused banking.”
He stated that the bank was retiring the familiar green and gold that had “served us well and embracing a dynamic new palette”.
According to him, the new deep blue symbolises trust, stability, and reliability as the county’s foremost ethical bank.
He said yellow represented “energy, optimism, and our customer-first spirit of innovation. Grey – conveying sophistication, balance, and our ability to evolve while holding true to timeless principles”.
Musa stated, “This transformation speaks to a deeper shift in banking—one where customers demand transparency, fairness, and social impact.
“With our refreshed identity, our focus is clear: to deliver accessible, ethical banking that celebrates Nigeria’s rich cultural and religious diversity.
“Our new payoff line, ‘With You for Life’, reflects our promise to stand with our customers through every stage of their journey—today, tomorrow, and for generations to come.”
Musa told THISDAY that the rebranding had a lot to do with the bank’s milestones.
He said, “As I’ve said, we’ve looked at our journey over the last 10 years, and we believe we have done very well.
President Bola Tinubu has ap- proved a significant subsidy to reduce the cost of dialysis treat- ment for Nigerians, cutting the price per session from N50,000 to N12,000. This initiative is aimed at alleviating the financial burden on thousands of Nigerians suffering from kidney-related illnesses.
Presidential spokesperson, Daniel Bwala, made this disclosure on Tuesday via his
verified X account,@BwalaDaniel, saying, “with this intervention, the price of each dialysis session has been reduced from N50,000 to just N12,000, bringing relief to thousands of citizens battling kidney-related diseases.”
The subsidy is currently being implemented in major federal hospitals across the nation’s six geopolitical zones, including Federal Medical Centre (FMC), Ebute-Metta in Lagos, FMC Jabi in Abuja, University College Hospital (UCH) in Ibadan, and
Other participating facilities include University
and University
Bwala revealed that additional federal medical centres and teaching hospitals will be incorporated before the end of the year to broaden access to affordable dialysis nationwide.
Governor Hope Uzodimma of Imo State (R) with the Chairman of Keystone Bank, Lady Ada Chukwudozie, when the latter and her team paid a courtesy call on the Governor in Owerri on Monday
The National Commission for Mass Literacy, Adult and Non-formal Education, NMEC, says it is contributing its quota towards national development by targeting 38 million illiterate Nigerians with its first batch of enrolling not less than 500,000 learners in its formal and non-formal education and training.
It revealed that its target are children from the age of 15 and above who have dropped out of school, and also adults who never had the opportunity of being enrolled, but nurse interest in being educated, saying that the training will be all-encompassing to include reading and writing, as well as vocational training.
Acting Executive Secretary of the Commission, Dr. John Edeh, who spoke yesterday in Abuja during the training of some of the 376 enumerators
on data collection from the 36 states of the federation including the FCT which has 250 facilitators, said this is a call to action as it is the first time the Commission is embarking on such exercise after 15 Attributingyears.the protracted overhaul to lack of funds, Edeh said the enrolment, based on the non-formal approach for basic literary education, and which will be done in batches will have a duration of a minimum of six months and a maximum of nine.
He noted that while this is the first time the Commission is receiving such swift attention and intervention in the face of mass literacy in the country, he applauded the efforts of the Minister of Education, Dr. Tunji Alausa and the Executive Secretary of the Universal Basic Education Commission, UBEC, Dr. Aisha Garba.
According to him, “This is a call for action and this is the first time that the Commission will be embarking on this exercise after the one we did in 2010 for the national literacy survey. This is an opportunity for us to ensure that all those not in training are brought back to the formal
learning centre through the non-formal training centre.
“The long gap has to do with the issue of funding. This is just an intervention and will not be enough for us to reach all the people that we are supposed to cover because of limited resources. We are talking
about 38 million Nigerians that are not literate and we are only spending few resources to make sure of those ones that we can bring on board.
“So, we are targeting this number and will also be contributing to the highest number on non-literacy that
we are facing in the country at the moment.
“In this enrolment, we are looking at a maximum of nine months and at the end, we should be able to say that the cases of 500,000 have been addressed. We will also take it further again and so it’s a step-by-step process.
Kuni Tyessi in Abuja
The Universal Basic Education Commission, UBEC, has declared the formal migration of the LUMINAH 2030 Initiative from the Federal Ministry of Education to UBEC, saying it is a timely and necessary step to guarantee sustainability and long-term impact.
Launched in March 2025
Segun Awofadeji
Member of the House of Representatives, Hon. Mansur Manu Soro, Darazo-Ganjuwarepresenting Federal Constituency of Bauchi State, has reaffirmed he is committed to provision of quality and standard education to vulnerable children in the federal constituency.
He spoke yesterday at the maiden graduation ceremony of the
he founded which graduated its first set of 63 Students.
Mansur Manu Soro commended the students, teachers and parents for the excellent performance in line with the objectives of establishing the school.
He assured he will continue to fund the schools through the Mansur Manu Soro Foundation (MMSF), which will outlive him even if out of office.
The graduation ceremony
which was the first to be held by the school, took place on Sunday, at the school’s prem- ises in Darazo, headquarters of Darazo LGA.
The school, founded in 2022, is one of the prominent schools providing free education to students, including uniforms, textbooks, shoes, and school bags.
In addition to free education, the school also covers the cost of the National Examinations Council (NECO) final exams.
and assisted by the World Bank, the project is to educate and economically empower over one million underserved girls and women across Nigeria by 2030.
Other objectives of the project are to provide vo- cational skills and financial support to female caregivers, establish flexible, safe learning centres for girls, promote gender-equitable education policies, and build a scal- able, data-driven model for national adoption.
Speaking at the opening of a 5-Day programme on LUMINAH 2030-UBEC Migration and Establishment Agenda, in Abuja on Tuesday, the Executive Secretary of UBEC, Dr. Aisha Garba said the initiative represents a bold national drive and is currently implemented in 12 states of the federation including Yobe and Taraba in the North East, Kano and Jigawa in the North West.
Others are Benue and the Federal Capital Territory, FCT,
in the North Central, Ebonyi and Anambra in the South East as well as Bayelsa and Akwa Ibom States in the South-South.
Represented by the Deputy Executive Secretary, Technical, Razak Akinyemi, the UBEC boss commended the contributions of AGILE, the global support programme that has nurtured LUMINAH since inception and noted however that AGILE’s international framework has a limited lifespan.
Kuni Tyessi in Abuja
The federal government has announced the release of admissions into Federal Unity Colleges across Nigeria, thereby marking a major milestone in promoting transparency, efficiency, and optimal capacity management in secondary school placements.
The Ministry of Education in a statement on Tuesday
by its Director of Press and Public Relations, Folashade Boriowo, said the ministry ensured that all admissions are now fully automated and strictly conducted within the approved capacity of each school, eliminating previous challenges of overstretched facilities.
Speaking on the significance of the reform, she said the Minister of Education, Dr. Tunji
Alausa, stated that, “This reform guarantees fairness, operational efficiency, and sustained quality in our Federal Unity Colleges.” The current admission exercise covers 80 conventional Federal Unity Colleges. Admission into the remaining 42 Federal Technical Colleges under the Technical and Vocational Education and Training (TVET) programme will be released in due course.
L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo; Governor Douye Diri; and Director-General, National Sports Commission, Bukola Olopade, during the NSC delegation’s courtesy visit to Government House, Yenagoa, yesterday
To expand $1bn trade relationship with Japan Seeks debt rescheduling, restructuring for Africa Lobby world leaders for possible seat at the UN Security Council, ICJ
Deji Elumoye in Abuja
Nigeria will leverage the Tokyo International Conference on African Development (TICAD) to advance diplomatic and economic relations with Japan and African partners, Minister of Foreign Affairs, Ambassador Yusuf Tuggar, said yesterday in Abuja.
Tuggar spoke while ad-
dressing newsmen ahead of Nigeria’s first participation in TICAD, scheduled to hold in Yokohama, Japan, from August 20 to August 22.
He explained that under President Bola Tinubu’s leadership at TICAD9, Nigeria would strengthen partnerships across Africa, fostering economic diversification, greater regional integration, and enhanced con-
nectivity to deliver broad-based benefits to all citizens.
Tuggar stressed, “And in the case of Nigeria, because it is a leading economy on the continent, we seek to do what Japan did here in the 60s and 70s, because at that time Japan was the second largest economy in the world, what Japan did was to diversify into other Asian countries, and you
had Japanese corporations that were referred to as Kabushiki Kaisha, they invested in other Asian countries.
“You need an industrial base, which is what Nigeria is trying to achieve, which is what President Tinubu is committed to, and that way we can create those jobs for our teeming youths, tackle the issue of unemployment.
“And, of course, the macro-
The Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, said Nigeria’s agricultural produce was ripe for export competitiveness at the global market, but access to finance for local farmers to meet the demand and quality needs remained the main drawback impeding the pathway of local crops from getting to global supermarkets.
Speaking at the First Bank
2025 Agric and Export Expo held at the Eko Hotels and Suites, Victoria Island, on Tuesday, he said despite Nigeria’s improving crop production, the nation’s share of agricultural exports in global market remained far below what it should be.
He noted that the nation only exported raw commodities rather than finished products, thereby losing out on the real wealth
and jobs that could come from processing, packaging, and branding of products.
The event with the theme: “The Fundamentals of Building an Export-Driven Economy”, brought together policymakers, investors, producers, and entrepreneurs on the discussion table to chart a course for diversification of Nigeria’s economy through agriculture and exports.
Laleye Dipo in Minna
Former military President, General Ibrahim Badamasi Babangida, has said prayers by Christian and Muslim faithful have been the factor sustaining Nigeria. He, therefore, asked the faithful to be more fervent in their supplication to God for the unity and progress
of the country. Babangida made the observation at his Minna uphill residence when he received the Niger state Christian Association of Nigeria (CAN) Chairman, the Most Reverend Dr Bulus Dauwa Yohanna and members of the executive, who paid him a birthday visit “I really appreciate you
(CAN), for the prayers. I must tell you that the prayers of both faiths, the Christians and Muslims have been very effective and it is what is keeping the country together” Babangida declared before urging the clerics and their followers to maintain the tempo in the general interest of the country.”
Governor of Niger State, Umar Bago, joined his Lagos State counterpart at the forum.
Sanwo-Olu said agriculture had provided the nation with immense opportunity to grow its GDP, stressing that Nigeria was not only blessed with arable land, but also an energetic young with resilient entrepreneurial spirit.
economic reforms of President Tinubu are already in progress, and we’re beginning to feel the positive effects.”
According to the minister, Nigeria, being a leading economy in Africa, plays a pivotal role in the reform of the global financial architecture and is committed to supporting the continent’s efforts towards debt rescheduling and restructuring to foster sustainable growth.
He stated, “Nigeria plays a very pivotal role when it comes to the reform of the global financial architecture that we continue to talk about.
“Because unless we have that reform in the global financial architecture, we cannot benefit, and Africa as a whole cannot benefit.
“It does not benefit us if others are not also making progress. So with some of the things that are being tabled here, the United Nations is here, the World Bank is here, it is all about the issue of debt, debt rescheduling and debt restructuring.”
Tuggar explained, “Nigeria is leveraging, first and foremost,
on this ticket to strengthen its relationship with Japan and also with other African countries, so that it leads the way in providing that restructuring of the global financial architecture, so that the whole continent would benefit, so that Africa would benefit.”
He emphasised that indus- trialisation-driven reforms were essential for Nigeria to create jobs for its growing youth population and combat unemployment, which he said was currently being actively pursued by the Tinubu administration.
The foreign affairs minister stated that Nigeria, being a leading economy on the continent, sought to adopt the Japanese strategy in the 60s and 70s, when it diversified into other Asian countries.
He said, “That Asian miracle is actually what Japan did, which is referred to as the flying geese effect, where you invest in other countries, you create that integration of economies, connectivity, and you benefit from it.”
Continues online
Yinka Kolawole in Osogbo
In an effort to reposition technical and vocational education in line with national priorities, IHS Nigeria has partnered the Osun State Government on Osun Teacher-Shift 2025, a programme aimed at transforming technical and vocational schoolteachers into digital-ready educators
capable of driving innovation in classrooms.
The IHS Nigeria sponsored initiative, implemented by Focus Teens Foundation in collaboration with the Osun State Board of Technical and Vocational Education, targets about 200 teachers across the state’s nine technical colleges. The training is expected to run in batches over a twoday period, with participants
expected to acquire modern skills, and innovative teaching techniques. Speaking at the opening ceremony which was held in Osogbo yesterday, Titilope Oguntuga, Director of Sustainability at IHS Nigeria, explained the project was developed to prepare teachers for the opportunities and challenges of a fast-evolving world.
L-R: Executive Director,
Juilet
Monday, during the inception meeting on ‘Tracking
The Labour Party presidential candidate in 2023, Peter Obi, has lamented the impact of vote buying on the nation’s electoral process and warned that the culture of selling and buying votes was already destroying Nigeria from within.
He likened it to a ‘slow poison’ that killed both democracy and development
communities already vulnerable due to conflict and poverty.
“It is in this regard, that the National Human Rights Com- mission welcomes the arrests of the leaders of Ansaru, a deadly terrorist organisation which is responsible for gross human rights violations of Nigerians.
“We commend the Depart- ment of State Services, the Armed Forces and the Office of the National Security Adviser for this feat. There is much we can achieve in safeguarding our citizens and human rights if agencies collaborate and adopt human rights-based approaches.
“We call on the authorities to swiftly put every machinery in place to ensure swift trials of the terrorist leaders and ensure that they are held to the highest form of accountability befitting their heinous crimes.
“As we salute the courage and gallantry of our intelligence and armed forces, we call on other sectors of our security and law enforcement to rise up to the responsibility of safeguarding the human rights of Nigerians currently facing attacks in Benue, Plateau, Niger, Zamfara, Sokoto and Borno states all of whom, based on our dashboard for July are facing dire security situations.”
Ojukwu, therefore, asked security agencies to reaffirm
unknowing.
Obi said those who bought votes were not being generous, but merely purchasing the licence to loot public funds.
“They invest in bribing voters today only to plunder schools, hospitals, roads, and jobs tomorrow. They are not leaders, they are licensed looters,” he declared.
Obi further stressed that those who sold their votes were not victims alone; they
their commitment to profes- sionalism and human rights in their operations; government actors to address the root causes of these violations – poverty, impunity, and weak institutional responses.
He equally asked civil society and the media to continue raising awareness and putting pressure where needed; and all citizens, he called, to speak out and stand firm against violence, injustice, and indifference.
He disclosed that in the month of July, a total of 331,035 complaints were received by the commission across the nation.
“The most prevalent is- sues this month relate to law enforcement and human dignity, freedom from discrimination, and economic, social, and cultural rights. These are not new issues, but their persistence underscores systemic problems we cannot normalize.
“When dignity is undermined by those tasked with uphold- ing the law, the social contract begins to erode. When people are denied equal treatment or suffer indignities due to who they are, we all suffer a loss in our collective humanity,” he said.
were also accomplices.
“Every time you trade your ballot for money, you mort- gage your children’s future for crumbs. You sell away the hospital bed that may save your life, the classrooms that should educate your children, and the jobs that should lift your family out of poverty.
“If your vote was worthless, no one would pay for it. The real power is not in their money, it is in your
The Nigeria Union of Journal- ists (NUJ), has commended the Nigerian government and its security forces for the recent successful operation that led to the capture of two high-ranking members of the Ansaru terror group, linking the success to security’s professionalism.
The arrest of Mahmud Muhammad Usman (alias Abu Bara’a) and his deputy, Mahmud al-Nigeri (alias Malam Mamuda), as announced by the National Security Adviser, Malam Nuhu Ribadu, the NUJ said was a significant victory in Nigeria’s fight against terrorism.
NUJ’s commendation was contained in a statement by its President, Alhassan Yahya Abdullahi.
It states that Ansaru, a dangerous splinter faction, had been responsible for many of the country’s most brutal attacks over the past decade.
“This breakthrough, which was the result of sustained intelligence efforts, shows the bravery and professionalism of our security agencies.
“The digital evidence recovered from this opera- tion is a valuable resource for dismantling terror networks and preventing future attacks. It also reflects a more advanced security strategy that prioritizes precision, intelligence, and
conscience, your courage, and your choice,” he said.
Obi called on Nigerians to resist the politics of bribery and rise above temporary gains, warning that the nation faced a stark choice of either to remain trapped in poverty through vote-selling, or break free by electing leaders who built rather than loot.
“A new Nigeria is possible,” he said, adding: “But it will only be born the day we
long-term national security.
“The NUJ salutes the men and women who risk their lives daily to keep our country safe.
“We urge the government to continue supporting our security institutions and ensure that justice is served quickly and transparently.
“Terrorism threatens our peace, development, and demo- cratic values. As journalists and defenders of the public interest, the NUJ stands in solidarity with all efforts to restore lasting peace and security in Nigeria.
“We encourage all Nigerians to remain vigilant, support security efforts, and resist narratives that seek to divide us. Together, we will overcome.”
The International Organ- isation for Migration (IOM) has applauded the federal government for its leadership role in implementing Operation Safe Corridor, a model for the rehabilitation and reintegration of repentant ex-Boko Haram fighters, especially the expansion of the programme beyond the North-East to the North-West and North-Central regions.
Deputy Director of General Operations of the International
stop auctioning our future for cash.”
Meanwhile, the Labour Party (LP) has admitted responsibility for the wave of defections that has hit the party in recent months, citing weak background checks on candidates fielded during the 2023 general election.
Speaking during a virtual meeting organised by the Coalition for the Defence of Democracy (COPDEM),
Organization for Migration (IOM), Mrs Ogechi Daniel, gave this applause when she paid a courtesy visit to the Chief of Defence Staff (CDS), General Christopher Gwabin Musa, at the Defence Headquarters, Abuja.
A statement by the Acting Director of Defence Information, Brigadier General Tukur Gusau, said the visit provided an oppor- tunity for both parties to deepen discussions on strengthening cooperation in peacebuilding, migration management, and countering violent extremism across Nigeria.
She affirmed IOM’s readiness to deploy experts on Disarmament, Demobilisation, Reintegration, and Reconciliation (DDRR) in new areas such as Zamfara State.
The IOM Deputy Director- General also highlighted the importance of improving data for disaster risk reduction and working in a coordinated man- ner with national stakeholders.
She noted that IOM provides technical support in border management and early warn- ing systems and maintains a field presence in all member states of the Lake Chad Basin Commission.
She further disclosed that IOM recently signed a Memo- randum of Understanding with
the party’s interim National Chairman, Senator Esther Nenadi Usman, said the party’s rapid rise in 2023 attracted opportunistic politicians, who did not share its ideology.
“In many cases, candidates were fielded without thorough background checks,” she acknowledged, adding that while intimidation by the ruling party could not be ruled out, Labour Party must take part of the blame.
the UK Development Office to commence Phase 4 of rehabilitation and community-based reintegration.
While appreciating the federal government for creating the space for IOM to operate in Nigeria, Mrs Daniel reaf- firmed IOM’s commitment to supporting safe returns and local integration of internally displaced persons with a focus onShedevelopment. stressed that joint research collaboration would be critical in ensuring the sustainability of peace and reintegration approaches across Nigeria.
In his response, the CDS welcomed her to the Defence Headquarters and acknowl- edged IOM’s long-standing partnership, particularly in the North-East.
He emphasised the Armed Forces of Nigeria’s readiness to collaborate with IOM and other stakeholders in advancing peace and stability despite the challenges of limited funding.
“We support everybody that makes our work easier,” General Musa noted.
He said the visit underscored the shared commitment of the Armed Forces of Nigeria and IOM to deepen collaboration in addressing insecurity, displace-
L-R: Private Sector Co-Chair, Media and Publicity Sub-Committee, 31st Nigerian Economic Summit (NES 31), Mojisola Saka; Director, Macroeconomic Analysis Department, Federal Ministry of Budget and Economic Planning, Mr. Felix Okonkwo; Chairman, Board of Directors, Nigerian Economic Summit Group (NESG), Mr. Niyi Yusuf; Chief Executive Officer, NESG, Dr. Tayo Aduloju; and Private Sector Co-Chair, Technical Sub-Committee, NES 31, Mrs. Ozofu Ogiemudia, at the NES #31 Press Conference in Lagos, yesterday
President Bola Tinubu, yesterday, the pack of prominent Nigerians, who extended their condolences to the Kogi State Governor, Ahmed Usman Ododo, following the demise of his father, Alhaji Ahmed Momohsani Ododo.
The president, in a release by his Adviser on Information and Strategy, Bayo Onanuga, said that his thoughts and prayers were with the Ododo family, friends, and the people of Kogi State as they mourned Alhaji Momohsani, who died on Monday after the 2 pm Muslim prayers at 83.
Tinubu described the
deceased as a respected community leader whose legacy was evident in the accomplishments of the children he nurtured.
He urged Ododo, his family, and the entire Ododo clan to take solace in their patriarch’s life of service to God and the moral and religious values that guided him.
He prayed for the peace- ful repose of the soul of the departed and God’s comfort for the bereaved family, friends and associates.
On his part, Vice President Kashim Shettima also expressed deep condolences to Ododo and the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, over the passing of their respec-
Governor S L Aunc H P LAT form To ATT
unlock prosperity for millions of our people.”
He added, “When an investor builds a road, funds an agro-processing facility, finances renewable energy, or supports ICT infrastructure, the benefits extend beyond financial returns — they create jobs, improve livelihoods, and drive sustainable develop- ment.”
He commended Cavista Holdings, which partnered the governors in developing the NGF Fund roadmap.
Abdulrazaq stated, “The NGF Fund will complement Investopedia as a pooled investment vehicle — a financing arm to channel catalytic capital into vetted subnational projects.
“Anchored on NGF’s governance and fiduciary credibility, and supported by MOFI, NSIA, CBN, Afreximbank and other DFIs, the NGF Fund will ensure that opportunities highlighted in the Investopedia translate into real investments
on the ground.
“To our distinguished investors, both here in Nigeria, across Africa, and globally, I extend this invitation: Partner with Nigeria’s states. The opportunities are vast, the commitment is firm, and the time is now.
“With the NGF Investopedia, backed by strong partnerships and the NGF Fund, we are sending a clear signal: Nigeria’s sub-nationals are open, credible, and investment-ready. Together, we can bridge the infrastructure gap and unlock a new era of prosperity for our people.”
The NGF director-general, Shittu, described Nigeria as a land of opportunity.
He expressed gratitude to Afreximbank, UNDP, and MOFI, saying, their “partnership ensures that the Investopedia is not only launched but sustained”.
Shittu said, “Your contributions give this platform both
tiveOdodoparents.lost his father, on Monday at the age of 83, while Yilwatda, lost his mother, Mama Lydia Yilwatda, on Sunday morning at Jos University Teaching Hospital, also at the age of 83.
In a condolence message, Shettima described both deaths as profound losses that resonate beyond their immediate families to the entire Nigerian political arena and the nation at large.
“I extend my heartfelt con- dolences to Governor Usman Ododo and Professor Nentawe Yilwatda over the sad demise of their beloved parents.
“The two deaths within such a short period leave a collective grief for our political family and indeed the entire nation. These
strategic weight and technical depth.“This initiative is a collective achievement. Our state investment agencies, NGF secretariat technical teams and partners have worked tirelessly to provide data, shape the pipeline, and ensure readiness.
“Their contributions underpin this publication and demonstrate that Nigeria’s States are now open for business.”
He listed three things that the investment platform would bring to the sub-nationals to include, “simplify investor access by consolidating credible projects into one gateway; provide confidence through due diligence and transparent presentation of opportunities, and mobilise partnerships that go beyond financing to include technical support, capacity-building, and risk mitigation.
“This is why today matters:
were pillars whose wisdom, prayers, and guidance shaped the character of leaders who today serve our people,” the Vice President noted.
Shettima described late Alhaji Ahmed Momohsani Ododo as a devout Muslim and respected community figure whose values continue to manifest in Governor Ododo’s dedicated service to Kogi State.
The Vice President equally eulogised Mama Lydia Yilwatda as a devoted Christian, virtuous woman leader, and pillar of the Church of Christ in Nations, whose contributions alongside her late husband significantly impacted church growth across multiple states.
Also, Chairman of the SouthWest Governors Forum and
we are no longer just discussing potential, but presenting bankable pathways for global, African, and domestic capital to flow into our states.
“The prosperity that will follow — in jobs, infrastructure, and inclusive growth — will stand as a legacy for this generation of governors and leaders. To the CEOs, MDs, and industry leaders present here today: your presence signals confidence—and it emboldens our states. Together, we can transform Nigeria’s investment landscape.
“Nigeria’s states are now open for business. The opportunity is real; the readiness is present. Let us now engage, partner, and deliver.”
Harbaugh said the United States would support Nigeria in the areas of agriculture and digital economy, trade and business environment, transparency and accountability, as well as the health sector.
Lagos State Governor, Mr. Babajide Sanwo-Olu, while commiserating with Ododo, urged him, his family, friends, associates and the entire people of Kogi State in general to be grateful to God that his late father loved a fulfilled life.
Sanwo-Olu stated this in a statement by his Special Adviser on Media and Publicity, Mr.
Gboyega Akosile.
“On behalf of my adorable wife, Ibijoke, the people and government of Lagos State, I sympathise with my brother, Governor Usman Ododo, on the demise of his beloved father, Alhaji Ahmed Momohsani Ododo.
Continues online
Adedayo Akinwale in Abuja
The Independent National Electoral Commission (INEC) has fixed this Thursday, August 21 for election in the five Polling Units of Kaura Namoda South State Constituency of Zamfara State.
INEC National Commissioner and Chairman, Information & Voter Education Committee, Sam Olumekun, in a statement, recalled that on Saturday 16th August, 2025, 16 by-elections and two court-ordered re-run elections were held across the country.
He noted that the by- elections were held in two Senatorial Districts, five Federal Constituencies and nine State Assembly Constituencies.
The National Commissioner stressed that declaration and return have been made in two Senatorial Districts, five Federal Constituencies and eight State Assembly Constituencies.
“In spite of the prevailing security situation, election was held in Kaura Namoda South State Constituency of
Zamfara State.
“However, the Returning Officer reported that he was unable to make a declaration because of violence/ emergency in five Polling Units across two Registration Areas/Wards with a total of 3,572 registered voters out of which 3,265 Permanent Voters Cards (PVCs) were collected by voters.
“The margin of lead was 1,662. Therefore, based on Section 24(3) and (4) of the Electoral Act 2022, election must be held in the affected polling units to determine a winner.
“Consequently, the Commission has fixed Thursday 21st August 2025 for election in the five Polling Units with the following delimitation details:
“Two re-run elections by order of the Election Petition Appeal Tribunals were held in Enugu and Kano States. After previous disruptions of the elections in the two States by violence and thuggery, the elections have now been concluded.”
L-R : Representative of Nigerian First Lady/Wife of Ekiti State Governor, Dr. Olayemi Oyebanji; Deputy Governor of Ekiti State, Chief (Mrs.) Monisade Afuye, and a beneficiary, Mrs. Adebayo Aderayo, during the launch of Renewed Hope Initiative/Tony Elumelu Foundation Women Economic Empowerment Programme in Ado- Ekiti… recently
Francis sardauna in Katsina
A research conducted by Oxford Policy Management has revealed that 330 students have been abducted in Batsari, Faskari and Kankara Local Government Areas of Katsina state between 2020 and 2025.
With support from the United Nations Children’s
Fund (UNICEF) and the state ministry of basic and secondary education, the research was conducted on the impact of insecurity on access to education in Katsina, Zamfara and Niger States.
A Consultant with Oxford Policy Management, Hadiza Tijjani, who stated this yesterday at a dissemination
‘Nigeria’s $10bn Food Import Bill Unsustainable’
Nigeria’s Minister of Agriculture and Food Security, Senator Abubakar Kyari, has declared the country’s annual $10 billion food import expenditure unsustainable, calling for urgent diversification into agricultural exports to achieve food sovereignty.
Speaking at the FirstBank 2025 Agric and Export Expo in Lagos, Kyiari warned that Nigeria’s over-reliance on oil revenues leaves the economy vulnerable to global market shocks.
The minister, who was represented by Ibrahim Alkali, said: “When oil prices shake, Nigeria trembles.
When the Naira slides, food and fuel costs climb. But when agriculture thrives, Nigeria breathes easier.”
Kyari, who described the expo’s theme of building a non-oil export-driven economy as “a survival strategy for our nation,” highlighted the paradox of Nigeria’s agricultural sector, which contributes 25 per cent to GDP and employs 35 per cent of the workforce, yet accounts for less than 0.5 per cent of global agricultural exports while the country imports basic commodities like wheat, rice, sugar, fish, and tomato paste.
AI Genomics Hackathon
Twenty young scientists from across Nigeria converged on the Institute of Genomics and Global Health (IGH), Redeemer’s University, Ede, marking the beginning of the on-site phase of Africa’s firstever Extended Reality (XR) and Artificial Intelligence (AI) Genomics Hackathon. The event, which aimed to revolutionise the way genomics is taught and experienced, brought together a unique blend of technical skills and scientific expertise to simulate laboratory processes.
For the past two weeks, over 150 international participants worked remotely in teams, developing operational flows for various genomic sequencing steps using Extended Reality (XR) and Artificial Intelligence (AI).
Speaking about the event, the Director of IGH, Professor Christian Happi, said: “We are happy to bring these young minds together, which include participants from Kenya and Uganda that will be collaborating remotely in this second phase.
meeting in Katsina, said 14 school staff members were kidnapped and five killed in the three local government areas of Katsina within the
period under review.
She explained that out of the 572 primary and secondary schools in the three local governments,
52 have been shut down, and only nine are reopened for academic activities.
She said findings from the respondents show that
37.7 per cent of teachers feel unsafe while teaching, and 79.7 per cent of students report difficulty concentrating due to noise and trauma.
david-Chyddy Eleke in awka
Wife of the Governor of Anambra State, Mrs. Nonye Soludo, has condemned the stripping and beating of a lady said to be a member of the National Youth Service Corps (NYSC) in the state.
A viral video of the incident has been flying on social media. The incident reportedly happened in Oba, Idemili North Local Government Area of the state, where the
operatives were said to have invaded the corpers’ Lodge in search of internet fraudsters.
The video which showed the lady being beaten up by gun wielding operatives, while her dressed was torn as she wailed begging for mercy has attracted condemnation.
Wife of the governor described it as a disturbing sight, calling for investigation to ensure that those involved were brought to book.
Olusegun samuel in yenagoa
Fear and confusion swept through Amarata, a bustling suburb community in Yenagoa the Bayelsa State capital yesterday following reports
that a police officer was allegedly killed in the area, sparking a violent reprisal raid by security operatives.
Eyewitnesses said armed policemen stormed the Ompadec and Punch area of Amarata in the early hours of the morning, breaking into houses and shooting sporadically and spraying tear gas.
Terrified residents, including women and children, reportedly fled their homes to escape the gunfire, leaving the neighbourhood deserted. Mr. Priye Julius, a broadcaster with Radio Bayelsa, and Mr. Forsbray Inegha, a retired police officer, who confirmed the incident, said their own homes were damaged during the raid.
Okoh in Makurdi
The Governor of Benue State, Hyacinth Alia, has presented improved Tenera oil palm seedlings to journalists in the state under the Benue Alia Palm Project, even as he urged journalists to go into agriculture for their future benefits.
The governor described the initiative as a sustainable economic intervention that will create jobs, boost industrial growth, and strengthen household incomes.
He made this known during the Congress of the Nigeria Union of Journalists (NUJ), Benue State Council, in Makurdi. Governor Alia, while speaking at the event, reiterated his administration’s commitment to laying solid foundations for Benue’s development through infrastructural renewal, access to clean water, improved electricity, modernised schools, and stronger health facilities.
Hammed shittu inIlorin
A non-governmental organisation(NGO), the Foundation for Peace Professionals (PeacePro), has called on Yoruba elders, statesmen, and cultural
custodians to rise above partisan or parochial leanings and intervene decisively on the current feud between Alaafin of Oyo, Oba Abimbola Akeem Owoade and Ooni of Ife, Oba Enitan Adeyeye Ogunwusi.
A feud has come up between
the two monarch over the installation of an Ibadan business mogul, Engineer Dotun Sanusi as Okanlomo of Yorubaland by Ooni of Ife, Oba Ogunwusi.
A statement issued in Ilorin, Kwara state capital yesterday by the PeacePro, signed by its Executive Director, Abdulrazaq Hamzat, said that the intervention of the Yoruba elders and statesmen became imperative as the matter goes far beyond traditional rivalry and touches the very essence of Yoruba civilisation.
sunday aborisade in abuja
The National Assembly has called for a distinct salary structure for legislative aides serving lawmakers in both chambers, while also seeking safeguards against arbitrary termination of their appointments by their principals.
the Clerk to the National Assembly, Kamoru Ogunlana, at a three-day capacity-building training for legislative aides.
The call was made yesterday in Abuja by
Ogunlana explained that although legislative aides
are political appointees, their conditions of service are currently tied to the template of career civil servants, which does not reflect the peculiarities of their work.
eM e R g IN g Powe R DYNAMICS IN lA go S ’ e le CTRICITY M AR ke T
the electricity distribution space and takes on the onerous tasks of turning around EKEDC to provide reliable, innovative and sustainable energy services to its customers.
The challenges notwithstanding, the Transgrid consortium is made up of companies with demonstrable track records in electricity generation, gas marketing and transportation, as well as infrastructure financing. According to information provided by EKEDC directors, Transgrid is made up of North South Power Company Limited, which holds an 80% stake in the consortium. North South Power owns and operates the 600MW Shiroro hydroelectric power station in Niger State, the 30MW Gurara hydroelectric power plant in Kaduna State, and a 20MW solar power project co-located within the Shiroro station. Other shareholders of Transgrid include Axxela Limited (formerly Oando Gas & Power), a leading energy solutions provider specialising in natural gas processing, distribution and power generation, and Stanbic IBTC Asset Management, fund manager of the Stanbic IBTC Infrastructure Growth Fund. Axxela and Stanbic IBTC Asset Management each hold 10% in Transgrid Enerco.
Add to this the passage of the Electricity Act in 2023, which has ushered in the regulatory tailwinds that Transgrid can ride on to improve operational autonomy and growth at Eko DisCo. For instance, the Act’s enabling framework provides for cost-reflective tariffs and operational autonomy for DisCos. It also paves the way for a flexible market structure by way of bilateral contracts between DisCos and GenCos which will ultimately drive growth. Transgrid could also optimise the Eko DisCo zip code that endows it with a large customer base with the capacity and ability to pay for electricity insofar as its available at all times. Should Transgrid in the foreseeable future also decide to decouple from the national grid by investing in a privately-run transmission grid in Lagos, not only will it redefine the power dynamics in Nigeria’s largest electricity
ment, and migration challenges while promoting sustainable peace and development.
Owo Catholic Church Attackers Had Links With Foreign Terrorist, DSS Tells Court
The Department of State Services (DSS) has cautioned a Federal High Court in Abuja against granting bail to the five men being prosecuted over their alleged involvement in the June 5, 2022 attack at St. Francs Xavier Catholic Church, Owo, Ondo State, in view of their alleged link with foreign terrorist groups.
The DSS, in a counteraffidavit to the defendants’ bail application, also raised concern about their capacity to interfere with prosecution’s witnesses if granted bail in view their alleged antecedent and propensity for violence.
The five were Idris Abdulmalik Omeiza (25 years), Al Qasim Idris 20 years), Jamiu Abdulmalik (26 years), Abdulhaleem Idris (25 years) and Momoh Otuho Abubakar (47Theyyears).were arraigned on August 11 on a nine-count terrorism charge, FHC/ABJ/CR/301/2025marked: filed by the DSS).
In the counter-affidavit, the DSS stated that the offences for
market, it will serve as an industry point of reference.
But to achieve this, Transgrid must run EKEDC with the same discipline, efficiency, culture and customer focus as a bank. This must be backed by infrastructure upgrades, network expansion and metering programmes aimed at reducing losses and enhancing electricity delivery to its customers. To close the electricity supply gap in EKEDC’s francishe area, Transgrid would also have to pursue and implement embedded power solutions for high value customers, and at the same time secure long-term power purchase agreements
which the defendants were standing trial were very seri- ous, with capital punishment if convicted.
It added that the defendants were standing trial for acts of terrorism, which led to the death of about 40 persons and caused grievous injury to over 100 worshipers at St. Francis Xavier Catholic Church, Owo, Ondo State on 5th June, 2022.
“There is very high likelihood of defendants evading trial in view of their connection to foreign fighters linked to Al-Shabab terrorist group.
“The defendants’ accomplices are still at large and have been making frantic efforts to monitor their trial, intimidate witnesses and free the defendants from lawful custody,” it stated.
The DSS disclosed that it was “currently investigating the leads with a view to apprehending those individuals, planning to intimidate witnesses and compromise the trial in the interest of the applicants.
“The prosecution witnesses have expressed fears of attacks by defendants’ cohorts and have stated that they will not attend court sessions except their fears were“Thisallayed.necessitated the filing of an ex-parte application for witness protection.
“The prosecution has demonstrated readiness for speedy trial of the substantive
charge. That defendants have not presented any evidence to show that they have credible sureties.
“It will not be in the interest of justice and security of prosecution witnesses to grant the application for bail,” the DSS said.
Defence lawyer, Abdullahi Mohammad had, while moving the bail application on Tuesday, noted that his client’s had been in custody since they were arrested in 2022.
Mohammad said his clients were ready to present credible and reliable sureties to demonstrate their willingness to stand trial.
Prosecuting lawyer, Dr. Calistus Eze, urged the court to reject the bail application for being unmeritorious.
Eze stated that there were ongoing threats to would be witnesses of the prosecution, which the defence lawyer was aware of.
After taking arguments from both lawyers, Justice Emeka Nwite adjourned till September 10 for ruling on the bail Earlierapplication. at the commencement of proceedings, Eze told the court that although the case was scheduled for Tuesday for the prosecution to open its case, it would not be able to proceed because the DSS has handed the case to a senior
with GenCos and other independent power producers at competitive rates.
In addition, Transgrid would do well by arming itself with a rigorous risk management framework to safeguard against regulatory risks likely to crystalise as sub-national governments move to take control of electricity markets in their states. Some of the issues that may arise in a state like Lagos, include carving up of EKEDC’s francishe area or the introduction of unhelpful rules and guidelines likely to hinder growth and investment.
A perfect example is the electricity market in Enugu State where the state electricity regulator
lawyer, Ayodeji Adedipe, SAN to lead the prosecuting team.
Eze prayed the court for an adjournment to a later date before which the DSS would have processed the necessary fiat from the office of the Attorney General of the Federation (AGF) to enable Adedipe to fully take over the handling of the case.
Mohammad did not object to Eze’s request for an adjourn- ment. He also did not object to another application by Eze, seeking the protection of the identity and other personal particulars of the prosecution’s witnesses.
In the application, the prosecution prayed the court to issue an order to protect the identity and other personal particulars of the prosecution witnesses and an order allowing the prosecution witnesses to testify while hooded and veiled off from the view of all other individuals except the counsel on both sides.
The prosecution also urged the court to issue an order to prevent the mentioning of the real names of prosecution’s witnesses in its orders, judg- ments or records which are accessible to the public, and an order allowing witnesses should be identified with a combination of some alphabets.
In a brief ruling, Justice Nwite granted the application.
While exiting the court,
slashed the Band A electricity tariff from N209 per kWh to N160 per kWh, sparking concerns about a hike in the subsidy shortfall and the state’s ability to pay the difference. With the uncertainty caused by the tariff reduction, which has the imprint of the state’s populist governor Peter Mbah all over it, the electricity distribution operator in Enugu – Mainpower Electricity Distribution Limited – has been forced to cut power supply to parts of the state. In a notice sent out recently, Mainpower blamed power outages in parts of the state to a significant drop in energy allocation from its parent company Enugu Electricity Distribution Company (EEDC). Mainpower said EEDC had determined that enforcing the tariff cut would lead to a monthly loss of N1 billion, making it impossible for it to meet its market obligations. Ultimately, Transgrid’s takeover of EKEDC could not have come at a better time. The novelty of the Electricity Act and efforts by GenCos to find off-takers for the electricity that they produce are bound to enhance efficiency and create a more competitive market. Yet, concerns remain that EKEDC may be taking on too much debt by way of shareholder loans through the World Bank funded Distribution Sector Recovery Programme (DISREP) and the Siemens-led Presidential Power Initiative. Both loans, in addition to previous loans provided by the Central Bank of Nigeria to EKEDC and other DisCos continue to cause trepidation over a debt-equity conversion in the event any DisCo is unable repay its loans to government. But such fears have been put to rest by industry experts who say EKEDC could always deleverage by listing on the Nigerian Exchange through an initial public offer. Although this may trigger a debate as to which of the two entities should be listed – EKEDC or Transgrid – there’s no doubt that whichever of the two is taken to the market, either of them will in the fullness of time create shareholder liquidity and long-term value.
Mohammed told journalists that although he has not had the opportunity to see his clients in custody, he was told by them that they were well attended to.
Bandits Kill 13 Worshipers
No fewer than 13 people have been killed during morning prayers in Mantau community, Malumfashi Local Government Area of Katsina State.
Commissioner for Internal Security and Home Affairs, Dr. Nasir Mu’azu, confirmed the death of the worshipers in a statement yesterday.
Mu’azu, who did not mention the date of the incident, said it occurred when the criminal elements launched a reprisal attack on the community.
“The Katsina State Government today announced immedi- ate security reinforcements and support measures following a tragic incident in the Unguwan Mantau community, Malumfashi Local Government Area, where 13 residents lost their lives during morning prayers.
“The Muslim members of the community were praying in the mosque during the Fajr prayer when the criminal element started shooting sporadically in the “Themosque. attack was in retaliation for the community’s successful
defence efforts two days earlier. The people of Unguwan Man- tau decided to lay an ambush against the bandits and killed many of them.
“They rescued victims taken from Ruwan Sanyi village, seized 3 motorcycles, and 2 AK 47. The security agencies are now on the ground in Unguwan Muntau to restore normalcy.”
He, however, said the air component commander of the Forward Operating Base, Nigerian Army, and Nigerian Police Force had been deployed to “clear those bandits because during the rainy season, bandits hide under the crops to perpetrate their evil acts.”
While reiterating the state government’s unwavering commitment to eliminating criminal elements from the state, Mu’azu said “We are working towards bringing the bandits to book.
“As Government, we salute the gallantry disposition of the people of unguwar Mantau, and we are committed to fight- ing these bandits and ensuring safety across our communities.
“The State Government extends heartfelt condolences to the families affected and reaffirms its unwavering support for community-based security initiatives while working to eliminate criminal elements from the region.”
Group Sports Editor: Duro Ikhazuagbe
Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Duro Ikhazuagbe
With defending champions Tunisia bundled out of the ongoing 2025 Men’s Afrobasket in Luanda, Angola, the trophy is now wide open for pick by any of the teams left in the tournament. Cape Verde eliminated Tunisia 87-54 last night in the playoffs for a quarter final berth..
Today, 2015 champions Nigeria’s D’Tigers, who had a perfect 3-0 run in the group stage have a herculean mountain to climb when they take on Senegal in the quarterfinal. It going to be a blockbuster clash as the Terenga Lions are
The Home-based Eagles yesterday caged Congo’s Red Devils with two goals in the second half in the Tanzanian capital, Dar es Salaam, but their firepower came too late as both teams were eliminated from the 8th African Nations Championship at the Benjamin Mkapa Stadium.
Congo had hopes of inching their way into the knockout rounds before kick-off, with two points from their first two matches, including a fit-fighting draw with champions Senegal. On their part, the Eagles already had their bags packed for the journey home after an underwhelming first two games of the group phase in which they lost by a lone
goal to Senegal and were battered for four by Sudan.
Both teams did not present a spectacle in the first period, with no clear-cut opportunities created, though the Red Devils could have gone ahead in the 25th minute when Nigeria captain Nduka Junior bungled a simple pass and was lucky the opposing striker could not keep his header down in front of junior international goalkeeper Ebenezer Harcourt.
Nigeria returned from recess with obvious renewed vigour, and it was no surprise when Anas Yusuf connected home beautifully, a headed pass by Sikiru Alimi in the 56th minute, following a cross by defender Abdulrafiu Taiwo.
More than 600 students from the six southwestern states of Nigeria, along with over 150 game masters, took part in the inaugural sports camp organised by the WAMUFAT Foundation in partnership with the Nigeria School Sports Federation (NSSF).
The week-long event (August 11 to 16), held at the Agroterra Sports Complex in Joga-Orile, near Abeokuta,
Ogun State, offered participants hands-on exposure to modern sports training and mentorship.
The camp featured iconic Nigerian athletes and footballers such as Mary Onyali-Omagbemi, Falilat Ogunkoya, Mutiu Adepoju, Felix Owolabi, Segun Odegbami, and Tajudeen Disu, who served as resource persons and mentors throughout the programme.
A former Benin Republic striker, Razak Omotoyossi, is dead. Omotoyossi, was reported to have passed away yesterday, August 19, 2025, in Nigeria.
A former striker for the Cheetahs of Benin Republic (2004-2016), he remains the second-highest goal scorer in the history of the national team with 21 goals in 55 matches.
According to top football sources in Cotonou, Omotoyossi in recent months prior to his death, faced severe hardships.
“It was reported that fire gutted his home in July; lost his elder sister three weeks ago; and had an unstable marital life,” observed the top Benin football official.
fully conscious of the fact that Nigeria ‘s women rode on their female counterparts in the semifinal on the way to winning their fifth consecutive continental title. The Lions are likely to have vengeance at the back of their minds as they file out against these glory-seeking D’Tigers who are chasing to emulate their ladies by winning this edition
in Luanda.
In D’Tigers Group B adventure, they kicked of with an emphatic 77-59 victory over Madagascar before similarly crushing cup holders Tunisia 87-66. Lions of Cameroon however gave them a run for their money, when they won the fourth quarter by over 30 points to narrow the gap to just nine points overall. For taking their feet off the pedal in that fourth quarter, D’Tigers took
a terrible gamble that almost backfired. They certainly will not have such luxury against the Lions from Dakar.
These Senegalese are five- time AfroBasket champions. They pose more threat to Nigeria than the Tunisians eliminated last night by Cape Verde.
Although they secured their quarterfinal berth with a 78–65 playoff win over South Sudan, their group stage 2-1
record against Uganda (88–53) and Mali (84–70) and the loss to Egypt (91–77) show how determined they are to reclaiming the title.
However, Stan Okoye, who is the last man standing in the D’Tigers winning squad of 2015, will be aiming to have the Afrobasket gold round his neck once more. Standout player on the Senegalese side is Brancou Badio. He must be watched and taken out with a perfect game plan if D’Tigers will succeed in the quest to reach the semifinal and ultimately the final and the trophy.
AfroBasket reigning champions Tunisia’s defeat yesterday was their third loss in four games in the Angolan capital. Before the Classification Round for the Quarterfinals, Tunisia lost to Nigeria and Cameroon but they trounced Madagascar 81-60 in their final Group B game.Cape Verde came back from the locker fired up, outscoring Tunisia 22-5 in the third quarter before settling for the 33-point victory in the playoff game officiated by top Nigerian FIBA certified referee, Kingsley Ojeaburu. By the time the islanders of Cape Verde reached a 6038 lead in the third quarter, the game was literally over although Tunisia tried to put on a fight.
The National Sports Commission (NSC) has said Bayelsa State can comfortably host the 2028 National Sports Festival (NSF).
The Director-General, of the NSC, Mr. Bukola Olapade, stated this on Tuesday during a courtesy visit to Government House, Yenagoa.
Olopade said the team was in the state to inspect facilities before announcing the 2028 sports festival host.
He said facilities inspected included the security infrastructure, medical facilities, wrestling gyms, table tennis halls as well as the ongoing construction of an ultramodern stadium.
According to the NSC DG, from what the team saw, he was confident that Bayelsa will get the nod to host the festival.
He described the state as very peaceful, hospitable and a sleeping giant with great potential in the sports sector.
His words: “Bayelsa State presented an amazing bid for the 2028 sports festival. I was happy to know that there is an intentional desire by Bayelsa to host the sports festival. Bayelsa is a sleeping giant in sports.
“Yenagoa is beautiful and peaceful. This is an amazingly peaceful and beautiful state
and it tells me that these are people ready to welcome visitors.
“The facilities on ground are amazing. Bayelsa is even ready to host the event today more than the next host.”
In his remarks, the Bayelsa State Governor, Senator Douye Diri, said the state had come of age to host the festival
given the huge investment of his administration in sports. He noted that what hindered Bayelsa in the past from hosting the NSF were sporting facilities, which he said was being addressed with the construction of a 25,000-capacity stadium, which can be expanded to 35,000.
In furtherance of his commitment to sports development in the country, the Deputy President of the Senate, Senator Barau I. Jibrin, has concluded arrangements to upgrade the facilities at the Bayero University Kano (BUK) stadium.
Recently, Barau FC, founded by the Deputy President of the Senate, gained promotion from
the Nigeria National League (NNL) to the Nigeria Premier Football League (NPFL) and will play their home matches at the BUK stadium.
A delegation of the Deputy President of the Senate, comprising his Chief of Staff, Professor Muhammad Ibn Abdallah; Special Adviser on Media and Publicity, Alhaji Ismail Mudashir, and
Special Adviser on Youths and Sports Development, Comrade Kabiru Ado Lakwaya, met with the management of the BUK, led by the Vice Chancellor, Professor Haruna Musa, on Tuesday.Professor Abdallah, who led the delegation, conveyed the good news to the institu- tion’s management at the meeting.
BREAKFAST mEETinG oRGAniSED BY ChAmBER oF ShippinG...
L-R: Director, Consumer Affairs, Nigerian Shippers Council (NSC), Mr. Akujobi Celestine; Managing Director, Lekki Port LFTZ Enterprise Limited, Mr. Wang Qiang; Managing Director, Nigerian Ports Authority (NPA), Mr. Abubakar Dantsoho; President, Nigerian Chamber of Shipping, Alhaji Aminu Umar; Honourable Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola; and Vice President, Nigerian Chamber of Shipping, Mrs. Ify Akerele, during a breakfast meeting organised by the Nigerian Chamber of Shipping in collaboration with Lekki Port and held in Lagos, yesterday
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Through much of the Goodluck Jonathan and early years of the Muhammadu Buhari administrations, the Nigerian government was forced to contend with repeated threats by privately-run oil marketing companies to either stop the importation of petrol, go on strike, or lay off thousands of workers over government’s inability to pay outstanding subsidy bills owed the companies. To ward off the attendant fuel scarcity and its crippling impact on the economy, the government was always forced to the negotiating table. It was irrelevant whether fuel subsidy demands, often running into hundreds of billions of naira, were real or imagined. As a way of defraying their debts to marketers, both revenue-challenged administrations, after validating the subsidy claims, resorted to the issuance of promissory notes, following which marketers that were strapped for cash sold the notes to their banks at a discount, or waited till maturity for the Debt Management Office to redeem them at face value.
But all that’s behind us now. Or so we think. With full deregulation of the petroleum downstream sector in 2023, the federal government no longer has to kowtow to oil marketers, even as it struggles to unravel the N2.7 trillion subsidy claim from the Nigerian National Petroleum Company Limited, which it controls and in recent years became the sole importer of petrol into the country. Yet, while oil marketers may no longer cause government sleepless nights, another set of operators in the energy ecosystem are giving it heart palpitations and night sweats as it furiously ferrets for money to offset mounting subsidy claims from electricity generation companies (GenCos).
Today, the Nigerian government’s indebted- ness to power GenCos ranges from N4 trillion to N5 trillion, and it has again found itself in the difficult position of cajoling GenCos not to turn off their plants and plunge the country into darkness. Like its predecessors, the Bola Tinubu administration just confirmed a bond programme to offset over N4 trillion owed GenCos. Speaking on the subject last Wednesday, Minister of Finance and Coordinating Minister for the Economy, Olawale Edun, said a proposal was submitted to the cabinet for the issuance of a bond to pay off
government’s debt to the power companies. Of course, this means that the government will assume more debt and increase it fiscal deficit to appease the demands of GenCos. All this has happened because President Bola Tinubu has been selective in choosing just the downstream oil sector for full deregulation, while kicking the power sector can down the road.
To be fair, Tinubu is not the first and will probably not be the last president to bury his head in the sand as far as Nigeria’s electricity sector is concerned. Post-privatisation, Presidents Jonathan and Buhari lacked the political will to get the pricing regime right in the sector, thereby exacerbating illiquidity, stunting investment, and rendering most companies in the electricity value chain unviable. This in turn has led to structural changes in the power sector and compelled operators to come up with sustainable solutions for survival. One of such strategies is for GenCos to explore forward integration opportunities through the acquisition of electricity distribution companies (DisCos), especially those operating in high-value markets like Lagos, Abuja, Port Harcourt, and possibly Ibadan, Jos and Benin.
The first move towards the creation of a vertically integrated energy group was spearheaded by Sahara Group whose subsidiary Sahara Power Group (SPG) was visionary in its acquisition of Ikeja Electricity Distribution Company and the 1,320MW Egbin power station, both in Lagos under the privatisa-
tion programme in 2013. SPG was later to acquire additional thermal power plants in Omuku, Afam, Trans Amadi and Eleme, all in Rivers State. SPG along with its parent company’s ownership of Ashrami Energy’s upstream assets provide the perfect synergy for consolidating value for economic and product efficiencies.
After Sahara Group, Mainstream Energy Solutions Limited, owners and operators of Kainji and Jebba hydro power stations in Niger State, acquired Yola Electricity Distribution Company (Yola DisCo) through a subsidiary, Quest Electricity Nigeria Limited. Mainstream also opened discussions with Jos Electricity Distribution Company (Jos DisCo) in 2023 to supply electricity exclusively to the DisCo under a bilateral power agreement.
Then there is Transcorp Group’s power subsidiary, which already owns the 972MW Ughelli power plant in Delta State and 966MW Afam power station in River State but expanded its energy footprint by buying 60% of Abuja Electricity Distribution Company (Abuja DisCo) last year. And now following promptly in Transcorp’s footsteps is the Transgrid Enerco consortium, which is about to close a deal with its financiers to pay for a 60% stake in Eko Electricity Distribution Company (EKEDC). This is just as speculation is rife of a possible hostile takeover bid by Amperion Power Distribution Company of another DisCo and power station in the southwest region. Amperion is the owner and operator of Geregu Power Plc, which is chaired by Femi Otedola, who in recent years has emerged as Nigeria’s foremost corporate raider.
But while we wait to see if Amperion will make a move or not, Transgrid Enerco’s $227 million (N421.27 billion) bid for EKEDC should provide more insight into why this strategic push has become the norm and what this could portend for electricity consumers in those parts of Lagos and Ogun States covered by the DisCo. For one, EKEDC’s franchise area is quite diversified and is licensed across 1,200 square kilometres of southern Lagos comprising the Islands, Lekki, Ajah, Ibeju, Ijora, Apapa, Orile, Ajele, Mushin, Festac and Ojo. In Ogun, it serves Agbara. Owing to its coverage area, the DisCo provides electricity to the most cosmopolitan customer base in
the country (about 736,000 customers in total). Accordingly, its customers account for Nigeria’s highest electricity demand per capita, and with rapid urbanisation and industrialisation in places like the Ibeju-Lekki corridor, demand is still expected to continue to grow. Since its privatisation in 2013, EKEDC has expanded its network infrastructure to include over 6,000 distribution substations and 53 injection substations with an installed capacity of 4,430MVA. It has also invested in smart metering and automation to improve billing and collection efficiency. Furthermore, it is one of the few electricity distribution companies that consistently settles its market invoices for energy received from GenCos, has achieved significant revenue growth with a compounded annual growth rate of 30%, and is possibly the only DisCo that has recorded profits in four out of the last six financial years.
But even though it looks good on paper, EKEDC, like other DisCos, continues to be hampered by liquidity and technical constraints that impede its ability to fully deploy infrastructure, adequately meter its customers, and provide 24/7 electricity to them. A sizeable proportion of its Band A customers that are mandated to get 20 hours of electricity daily at the minimum, should count themselves lucky if they get up to four hours of electricity supply. While customers in lower service bands sometimes go for days or weeks without electricity.
Besides internal limitations and technical constraints sometimes arising from the Trans- mission Company of Nigeria (TCN), another reason EKEDC has struggled to meet electricity demand from its customers is due to the stark supply shortfall in the DisCo’s franchise area. Electricity demand in EKEDC’s franchise area is currently estimated at 4,597MW. However, it only gets 513MW from the transmission grid, resulting in a huge deficit of 4,084MW. This significant supply gap has forced many businesses and households to rely on selfgeneration – primarily using diesel – which is considerably more expensive at N950 per kWh (kilowatt-hour) and environmentally unsustainable. As such, Transgrid Enerco is likely to face an uphill task as it ventures into
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