WEDNESDAY 27TH MAY 2026

Amend Time-table to Comply with Electoral Act, Another Court Orders INEC After losing outing in APC primary, Pantami switches parties, now PDP governorship candidate in Gombe

Alex Enumah, Sunday Aborisade in Abuja, Segun Awofadeji in Gombe and Laleye Dipo in Minna

Justice James Omotosho of a Federal High Court in Abuja, has ordered the Independent National Electoral

Commission (INEC) to amend its revised time-table for the conduct of the 2027 general elections, in

compliance with the provisions of the Electoral Act 2026.

Omotosho issued the order on

Tuesday while delivering judgment in the suit brought against the commission by the Social Democratic

Party (SDP).

Continued on page 30

Nigeria Signs $1.5bn Grand Katsina-Ala Hydropower Concession Deal with Maverick Energy Partners... Page 30 Wednesday 27 May, 2026 Vol 31. No 11371. Price: N400

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Amaechi, Hayatu-Deen Reject Results of ADC Presidential Primaries, Decry Process Atiku leads nationwide with wide margin AAC picks Sowore as consensus presidential candidate for 2027

Chuks Okocha, Alex Enumah and Sunday Aborisade in Abuja

Two presidential hopefuls in African Democratic Congress (ADC), Chibuike Amaechi and

Mohammed Hayatu-Deen, have rejected the outcome of the party’s presidential nomination results,

alleging foul play.

That was as former Vice President Atiku Abubakar maintained

significant lead in the presidential primaries across the country with Continued on page 30

See table of the ADC results on Page 38

Sallah: Tinubu Declares Sacrifices

By Nigerians Yielding Results Vows we will ultimately defeat all forces of evil First Lady seeks prayer for sustained peace, stability, prosperity Akpabio, Barau, Kalu, Adeola rally support be-hind president’s reforms, seek sacrifice Atiku, Akume, Yilwatda, Sanwo-Olu, Fubara, Mbah, Abiodun, Okpebholo, Makarfi, Wunti, Issa-Onilu, oth-ers urge peace, unity FG approves 50% fare discount on train service across corridors Story on page 30

ENUGU HOSTS SOUTH EAST VENTURE CAPITAL PROGRAMME FINALE...

L-R: Chairman, Enugu State Internal Revenue Service, Mr. Emmanuel Nnamani; Commissioner for Finance, Enugu State, Dr. Nathaniel Uramah; Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele; Governor of Enugu State, Dr. Peter Mbah; Managing Director, Ministry of Finance Incorporated (MOFI), Dr. Armstrong Ume Takang; Board Chairman, South East Development Commission (SEDC), Dr. Emeka Nwogu; MD, SEDC, Mr. Mark Okoye; and Non Executive Director, MOFI, Dr. Ike Chioke, when Governor Mbah received the minister and his team at Government House, Enugu, on the sidelines of the grand finale of the first South East Venture Capital Programme held in Enugu, Tuesday

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A Time to

Give Share &Care Eid al-Kabir reminds us that sacrifice is not only an act of devotion but also a reflection of compassion, generosity, and love for others.

from all of us at GTCO

WEDNESDAY, MAY 27, 2026 • T H I S D AY

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THISDAY • WEDNESDAY, MAY 27, 2026

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

NEWS

SWEET VICTORY...

Ogun State Governor, Prince Dapo Abiodun, presenting the official results of the All Progressives Congress (APC) primary election for Ogun East Senatorial District to President Bola Ahmed Tinubu in Lagos... yesterday

FG to Launch Aircraft Leasing Firm With Sovereign Guarantee, Minor Equity Stake Aims to lower risk for lessors, ease aircraft access for local airlines Kasim Sumaina in Abuja The federal government yesterday disclosed plan to set up a new aircraft leasing firm with a sovereign guarantee while taking only a small equity stake.

The plan, the Minister of Aviation and Aerospace Development, Festus Keyamo, hinted was not to bail out airlines directly, but would provide guarantees covering two areas: The

legal title and safety status of the aircraft, and repossession rights if a lessee defaults.

The government would hold a five to 10 percent equity stake in the leasing vehicle, positioning it to earn from its enabling role rather than operate the airline.

Keyamo disclosed this during a high-level meeting with airline operators and aviation stakeholders on matters concerning Nigeria

Aircraft Leasing Company, which was held in Abuja.

He disclosed that the structure was designed to address a longstanding problem for foreign lessors, explaining, “Previously, even after the Nigerian Civil Aviation Authority deregisters an aircraft, other agencies such as customs could block repossession on legal grounds. The sovereign guarantee would bind all government agencies to cooperate on

repossession, with the government itself liable if they fail to do so.”

According to him, “The special purpose vehicle for the leasing company is currently being incorporated, with completion expected in weeks rather than months.

“Fundraising is underway, and officials report global investor interest, though they declined to give a firm financial close date.”

Speaking on foreign exchange,

MTN Seals Major Business Deals on Golf Courses, Says Regional Manager Blessing Ibunge in Port Harcourt

MTN General Manager for Regional Operations, South-South, Ifeanyi Udom, says the telecommunication giant has deepened engagement with premium customers through the 2026 MTN Prestige Golf Classic in Port Harcourt.

Udom stated that many high-level business decisions and strategic deals were often sealed on golf courses rather than inside corporate boardrooms.

The MTN general manager, who made the assertion during the tournament at the Port Harcourt Club, stressed that the telecommunication firm used lifestyle platforms, such as golf, to connect with customers, encourage networking, and showcase premium products and services.

According to her, the annual golf tournament has become a strategic platform for relationship building among high-value customers and the golfing community.

“At MTN, we try to connect with our customers at their passion points to make sure that we’re supporting the things that bring out the best in our customers, things that they like and enjoy,” she said.

Udom added, “The golf classic is one of those platforms for our

high-value customers and our golfing community so that we give them a platform to come and socialise, network, and collaborate because the reality is that a lot of very important decisions are not really made in the office or the boardrooms; some decisions are made on the golf courses.”

She added that the event also provided MTN the opportunity to promote curated services for premium customers.

The general manager stated, “We

also have a corner where we are showcasing MTN’s fantastic products and services. At the same time, we’re using the opportunity to let our high-value customers see special products that we have curated especially for them so that they can key into those products and begin to enjoy more of MTN’s excellent services.”

Udom listed some of the services being promoted at the event to include MTN’s 5G network, fibre services, voice and data offerings.

She stated, “So, it’s really about giving our customers a platform to enjoy themselves and also bringing to their places products and services that we have curated for that sort of customer so that they can connect with us, network and begin to enjoy very excellent and authentic services.”

The MTN regional boss stressed that beyond sponsorships and customer engagement events, the company remained focused on delivering top-quality network services across all its platforms.

Keyamo explained that the arrangement was aimed at reducing pressure on FX and outflows.

“The government is not putting one kobo on it. The government is only providing a sovereign guarantee for the safety of those aircraft and for repossession.

“And for that, the government will hold a minimum equity in the company. And so the government is earning money from it because of the role it’s going to play.

“Now, whether it’s going to be five or 10 percent, the Minister of Finance, the Attorney General, myself, we shall all decide. But it’s going to be very minimal share equity.

“So the government holds an equity in it for the role it’s going to play . Now, why are we dragging it like this? That is because before, deregistration by the NCAA was not enough to export an aircraft. After NCA deregisters, customs will come in and give all kinds of stories.”

Continuing, Keyamo said: “I have explained this before in my previous press interviews, especially the one I granted after the approval we secured from the Federal Executive Council about three or four weeks ago. “ It was very important that

we brief the airline owners today because eventually they will be the ultimate off-takers of that aircraft leasing company. As you know, one of our major objectives as a government is to see to the survival and stability of the local airlines.

“Why did we make this a prime objective? It’s simply because it is only in Nigeria and the whole of Africa that you have this volume of private operators.

“All over Africa, all other major airlines are run by governments.

There’s no single country in Africa that has plenty of airlines run by private people.

“It does not exist. It’s only in Nigeria. All the other airlines we hear of, whether Morocco Air, Egypt Air, Rwanda Air, Uganda Air, South Africa Air, all of them are run or subsidised by governments.

“So government’s duty in Nigeria, therefore, since we don’t own a national airline, we don’t subsidise one, is to ensure that the sector that we preside over, run by private people who are Nigerians, for Nigeria, who employ Nigerians, and for the benefit of the economy, we must support them to make them stable and make their businesses thrive.

Grenada PM Seeks Deeper Africa-Caribbean Trade, Cultural Ties

Sunday Ehigiator

Prime Minister of Grenada, Dickon Mitchell, has called for stronger economic, cultural and diplomatic ties between Africa and the Caribbean, while commending Nigerians living in Grenada for their contributions to national development.

Mitchell made the call during the celebration of African Liberation Day, themed, “African Rooted, Diaspora Rising, Identity Reclaiming,” where he stressed the need for Africa and Carib-

bean nations to transform shared historical connections into practical partnerships.

Speaking at the event, the Grenadian leader said Africa and the Caribbean shared a common history, identity, and destiny, adding that cooperation between both regions should extend beyond symbolic gestures to trade, investment, culture, and diplomacy.

“We are descendants of Africa and we must reclaim that,” Mitchell said, while welcoming Nigerians and other Africans

present at the gathering.

He described the presence of Nigerians at the event as “deeply meaningful,” stating that it represents “the reunion of families across the Atlantic”.

He said, “The Atlantic that was used for forced separation is now a deliberate bridge for reconnection.”

Mitchell said Grenada remained committed to strengthening relationships with African countries and building partnerships that would benefit people of African descent globally.

“We welcome you as brothers and sisters in a shared history, in a shared identity and in a shared destiny, bonded by history and united by purpose,” he stated.

The prime minister also praised Nigerians living and working in Grenada, saying their contributions underscore the growing importance of Africa-Caribbean cooperation.

“We value your contribution to our national life and this gathering is testimony to the role that Nigerians play in the economy of Grenada,” he said.

Mitchell advocated stronger economic integration between Africa and the Caribbean through increased trade, investment, and innovation-driven partnerships.

He stated, “We must deepen cooperation in trade and investment by expanding economic partnerships between our nations and create opportunities for businesses and innovation.”

According to him, Grenada, despite its size, remains determined to play an active role in strengthening ties within the global African community.

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NEWS

ANYIM PAYS COURTESY VISIT TO TINUBU...

Former Senate President, Anyim Pius Anyim (left), and President Bola Ahmed Tinubu during a courtesy visit to Tinubu at his residence in Lagos, yesterday

PHOTO: STATE HOUSE

PwC: Top AI-savvy Firms Earning 7 Times Higher Returns Amid $7tn Revenue Shift Firm says only 36% of African companies trust AI for decision-making Continent’s spending remains at 2% versus 5% globally Emmanuel Addeh in Abuja The world’s most AI-savvy companies are generating 7.2 times higher returns from artificial intelligence investments than their peers, even as more than $7 trillion in enterprise value shifted across industries globally in 2025, according to a new report by PwC. The report titled: ‘Decoding ROI from AI in Africa’, warned that African businesses risk falling behind global competitors unless

they move beyond small-scale AI experiments and begin deploying the technology as a core driver of growth, innovation and business transformation.

PwC said the top 20 per cent of firms with the strongest AI capabilities currently capture 74 per cent of all AI-driven financial returns globally, highlighting the growing concentration of value among companies that are scaling AI aggressively.

“Findings from the study show

that the most AI-fit companies generate 7.2 times greater AIdriven performance than others on an industry-adjusted basis. They capture more AI-driven revenue growth, achieve greater efficiency and cost improvements, and realise more substantial operating model transformation,” the PwC report added.

The study, which surveyed 1,217 large organisations worldwide, including 85 in Africa, found that companies generating the

strongest AI returns are no longer focusing solely on productivity gains or cost reductions, but are increasingly using AI to create new revenue streams, reinvent business models and reposition themselves for emerging markets.

According to the report, Africa’s median AI spending remains significantly below global benchmarks, with organisations on the continent allocating just 2 per cent of revenue to AI investments compared with 5 per cent among global AI leaders.

“African business leaders have learned to make strategic decisions under constraints. Capital constraints, infrastructure gaps, skills scarcity, currency volatility, and the need to protect fragile operating performance have made building resilience a business imperative. As AI reshapes competition, companies with higher AI fitness are realising outsized returns, which may widen the gap in market leadership and profitability over time.

“In today’s business environ-

Experts Urge Senate to Speed Up Passage of Child Online Safety Bill Amid Rising Digital Threats

Say weak enforcement mechanisms, poor platform accountability leaving millions of children vulnerable to online abuse

James Emejo in Abuja Child rights advocates and digital safety experts yesterday mounted pressure on Senate to urgently pass the Child Online Protection Bill (HB244), warning that continued delay is leaving millions of Nigerian children dangerously exposed to online predators, cyberbullying, sexual exploitation, and other digital harms.

The call came during a webinar convened by Gatefield and Cece Yara Child Advocacy Centre, ahead of this year’s Children’s Day celebration.

Stakeholders accused regulators and global digital platforms of failing to adequately protect children operating in the country’s rapidly expanding online space.

The Child Online Protection Bill, which scaled through the House of Representatives in December 2025, is currently awaiting Senate action.

Speakers at the event cited data from the Nigerian Communications Commission (NCC) showing that nine out of every 10 Nigerian children had experienced at least one form of online risk, while more than half of young internet users had suffered direct exposure to online

abuse, including cyberbullying, grooming, and exploitation.

The experts warned that the scale of exposure reflected a major regulatory failure and a widening gap in platform accountability, especially as millions of Nigerian children gained internet access without corresponding safety protections.

They also raised concerns over growing cases of “digital trauma,” saying repeated exposure to harmful online environments can have devastating long-term effects on children’s mental health, emotional development, and learning outcomes.

According to insights shared during the webinar, harmful materials often remain online long enough to spread widely before any intervention occurs, while as much as 31 per cent of reported child exploitation content is never removed from digital platforms.

They argued that the situation underscored the urgent need for stronger legal safeguards and tougher obligations for technology companies operating in Nigeria.

They specifically called on Senate to accelerate consideration of HB244,

insisting that the proposed legislation would, for the first time, impose enforceable responsibilities on digital platforms through mandatory timebound content removals and child safety-by-design standards.

The stakeholders further demanded compulsory 24-hour takedown rules for child sexual abuse and grooming materials, stronger age verification mechanisms, establishment of locally based moderation teams, as well as coordinated national digital literacy campaigns focused on child safety.

ment, African CEOs cannot afford to let constraints slow reinvention, as delay may limit their ability to compete for emerging sources of growth. PwC’s AI performance study shows the companies seeing the biggest returns from AI are not simply chasing improved productivity or cost savings. They are making bold decisions, using AI to drive growth and new value creation.

“Africa’s AI Fitness Index sits at the global median, yet the region trails AI leaders across every major dimension of AI-driven performance. This gap suggests that the challenge is not adoption, but execution at scale. The opportunity for the region is not to do more AI. It is to scale the right AI, deliberately and decisively,” the global professional services firm stated.

The report showed that only 32 per cent of African organisations surveyed said their current AI investment levels were sufficient to achieve strategic goals, compared with 55 per cent among leading AI-driven companies globally.

PwC stated that although AI adoption is rising across Africa, most organisations remain trapped in pilot stages without building the infrastructure, governance systems and workforce capabilities necessary to scale deployment enterprise-wide.

FCCPC, WASPAN Resolve Contempt Dispute as Cost of Healthy Diet Climbs Further to N1,541 Court Reserves Judgement in Regulatory Suit in March as Nutritious Feeding Pressures Persist Wale Igbintade The suit, marked FHC/L/ between the parties had resolved Ekiti, Imo, Abia remain most expensive places to access healthy food

James Emejo in Abuja

The national average cost of maintaining a healthy diet in the country rose further to N1,541 per adult per day in March 2026, representing a 1.89 per cent increase from N1,513 recorded in February, the National Bureau of Statistics (NBS) disclosed yesterday.

The latest increase highlights the sustained pressure on household nutrition and food affordability as the cost of accessing balanced meals continues its upward trajectory across

the country.

This was contained in the Cost of a Healthy Diet (CoHD) report for March 2026 released by the statistical agency.

At the zonal level, the average CoHD was highest in the South-east Zone at N1,899 per day, followed by the South-west Zone at N1,801 per day, while the lowest was recorded in the North-east Zone at N1,233 per day.

The report showed that the CoHD had continued to rise steadily over the past year.

Year-on-year, the cost increased by 4.38 per cent from N1,477 in March 2025, largely driven by increases across major food groups.

According to the NBS, CoHD represents the least expensive combination of locally available foods capable of meeting internationally recognised healthy dietary standards.

The data serves as an important indicator for measuring physical and economic access to nutritious food and is increasingly monitored globally by institutions such as the United Nations and the World Bank.

The Federal High Court, Lagos, has struck out contempt proceedings initiated by Wireless Application Service Providers Association of Nigeria (WISPAN) against Federal Competition and Consumer Protection Commission (FCCPC) after parties informed the court that issues surrounding the committal proceedings had been resolved.

Justice Ambrose LewisAllagoa subsequently struck out the contempt application after counsel informed the court that issues surrounding the committal proceedings had been amicably resolved.

CS/760/2026, centred on WASPAN’s challenge to FCCPC’s Digital, Electronic, Online and Non-Traditional Consumer Lending Guidelines, 2025 (DEON Regulations), which the association alleged unlawfully extended the commission’s regulatory powers into sectors already supervised by other agencies.

At the proceedings yesterday, Kemi Pinheiro, SAN, led the plaintiff’s team alongside Chukwudi Enebeli, SAN, while Olufunke Aboyade, SAN, represented FCCPC. At the commencement of proceedings, counsel to FCCPC informed the court that discussions

issues relating to the contempt proceedings, thereby paving the way for the hearing of substantive applications in the suit.

Following the development, Pinheiro formally withdrew the Form 49 contempt proceedings earlier filed by WASPAN, prompting the court to strike out the application.

The matter then proceeded to the hearing of FCCPC’s preliminary objection challenging the competence of the suit.

Aboyade argued that DEON Regulations had been in operation since July 2025 and questioned why the plaintiff waited until now to challenge them.

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NEWS

NACC GOVERNING COUNCIL PAYS COURTESY VISIT TO SANWO-OLU...

L-R: Trade and Investment Committee Chairman, Nigerian American Chamber of Commerce (NACC), Ms. Grace Adeyemo; Deputy President, Mr. Ehi Braimah; President, Alhaji Sheriff Balogun; Governor of Lagos State, Mr. Babajide Sanwo-Olu; National Treasurer, Chief Tobi Oduyale; Chairman, Trade Mission Committee, Dr. Violet Abdilkadir; and a member during the NACC Governing Council’s courtesy visit to the governor at Lagos House, Marina, yesterday

HYPREP Rallies Support for Ogoni Cleanup as FG Recommits to N’Delta Restoration Seeks backing from donors, oil firms, diplomatic community as funding wanes Remediation project unveils climate-smart agric plan Coordinator says over 7,000 direct jobs created, 5,000 persons trained

Emmanuel Addeh in Abuja The Hydrocarbon Pollution Remediation Project (HYPREP) yesterday intensified efforts to mobilise financial and technical support for the ongoing cleanup of Ogoniland, rallying stakeholders, including donors, oil firms, financial institutions and the diplomatic community for the completion of the project.

Besides, the federal government reaffirmed its commitment to restoring the degraded environment of the Niger Delta and addressing decades of pollution linked to oil exploration activities.

Speaking in Abuja at a High-level Conference on Donor Facilitation

and Diplomatic Support for Environmental Restoration and Sustainable Development in Ogoniland, the Minister of Environment, Balarabe Lawal, said the federal government remained committed to completing the Ogoni cleanup and ensuring long-term environmental restoration across the Niger Delta.

While acknowledging the humongous work so far done by the organisation since its establishment, the minister however stressed that existing funding arrangements were becoming depleted, calling on development partners, donor agencies, financial institutions, and the private sector to support the project.

“While substantial progress has

been made, the journey is not yet complete. Full implementation of the UNEP recommendations requires long-term commitment, sustained financial and technical support, continuous environmental monitoring, infrastructure operation and maintenance, ecosystem management, and sustained community development interventions.

“The resources that have driven much of the progress achieved to date, particularly under the UNEPsupported framework and related funding arrangements, are nearing exhaustion. At this critical stage, additional support is essential to consolidate existing gains, complete outstanding projects, strengthen institutional capacity, and ensure

the long-term sustainability of remediation outcomes.

“We therefore call on development partners, donor agencies, international financial institutions, philanthropic foundations, privatesector organisations, and members of the diplomatic community to deepen their engagement with HYPREP,” he stated.

According to him, the support, whether financial, technical, scientific, technological, or strategic will be crucial to ensuring the successful completion and sustainability of the landmark project and to realising the full promise of environmental restoration, improved livelihoods, public health, and sustainable development in Ogoniland.

CJN, Attorneys-General, Global Experts to Gather in Lagos for ICC Africa Arbitration Conference Wale Igbintade

The Chief Justice of Nigeria, Kudirat Kekere-Ekun, Attorneys-General, leading arbitration experts, and business leaders from more than 30 countries are expected in Lagos next week for the landmark 10th edition of the International Chamber of Commerce (ICC) Africa Conference on International Arbitration and ADR. The high-profile conference, organised by the International Chamber of Commerce, will hold from June 3 to June 5 at the Lagos Continental Hotel and is expected to attract delegates from across Africa, Europe and Asia.

Chair of the ICC Nigeria Arbitration and ADR Commission, Dorothy Ufeme Ufot, SAN, disclosed this during a press briefing in Lagos, describing Nigeria’s selection as host country as a major endorsement of its growing influence in international commercial dispute resolution.

According to her, several African countries competed to host the anniversary edition, but the ICC headquarters in Paris returned the conference to Nigeria because of its successful record in organising

previous editions and its expanding role in global arbitration.

“This is the 10th ICC Africa Conference and many countries indicated interest in hosting it.

Nigeria was chosen because of our successful history and the confidence ICC has in our capacity,” she said.

Ufot revealed that the President of the ICC International Court of Arbitration, Claudia Salomon, would lead a delegation from Paris to the conference.

She added that the AttorneyGeneral of the Federation, the Attorney-General of Lagos State and several Attorneys-General from other countries had also confirmed attendance.

The conference, themed “A Decade of Excellence: Shaping the Future of International Arbitration and ADR in Africa,” will focus on emerging issues in dispute resolution, including infrastructure disputes, energy transition, digital economy conflicts, artificial intelligence, investment protection and geopolitical risks.

Ufot described international arbitration as the preferred mechanism for resolving complex commercial disputes, particularly in sectors such as oil and gas, construction,

infrastructure and technology.

She lamented that although Africa is richly endowed with natural resources, disputes arising from investments and commercial activities on the continent are still largely resolved abroad, depriving African professionals and institutions of significant opportunities and revenue.

“If businesses are coming to Africa and generating wealth from our resources, Africans must also participate in resolving the disputes

arising from those transactions,” she said.

According to her, African professionals were previously sidelined in international arbitration due to perceptions that they lacked the expertise to handle complex commercial disputes.

She noted, however, that African legal practitioners responded by investing heavily in training, attending international conferences and participating actively in global arbitration institutions.

“The restoration of Ogoniland is not merely a Nigerian undertaking; it is a global model for environmental recovery, climate resilience, and international cooperation. Its success will demonstrate what can be achieved when governments, communities, development partners, and the private sector unite around a shared vision of environmental stewardship and human development,” Lawal added.

The minister explained that since its establishment, HYPREP has achieved remarkable results, with hundreds of hectares of hydrocarbon-polluted land having been remediated, and additional sites currently undergoing remediation.

“Potable water schemes have been delivered to affected communities, restoring access to safe drinking water. Large-scale mangrove restoration initiatives are reviving fragile ecosystems and enhancing biodiversity,” he stressed.

Speaking during an interview on the sidelines of the programme, Project Coordinator, Prof. Nenibarini Zabbey, described the Ogoni cleanup as a “unique and largescale environmental restoration programme” that goes beyond land remediation to include potable water supply, shoreline cleanup, mangrove restoration, healthcare infrastructure, sustainable livelihoods, and research advancement.

According to him, the climatesmart agriculture initiative aligns with the Renewed Hope Agenda of President Bola Tinubu’s administra-

tion, which has mandated HYPREP to contribute to national food security efforts.

“The Renewed Hope Agenda prioritises the Ogoni cleanup, and we have been mandated to contribute to improving food security. That is why we are rolling out innovative climate-smart agriculture models for the Ogoni people,” he said.

He revealed that HYPREP had already begun supporting cassava farmers in Ogoniland and had secured large expanses of land from communities to establish an agricultural hub for value addition and agro-processing.

Highlighting achievements recorded so far, Zabbey said HYPREP had created over 7,000 direct jobs through its various project sites and trained more than 5,000 Ogoni youths and women in 21 skill areas, providing them with start-up kits to support economic empowerment.

He added that the project had built the capacity of 201 cassava farmers with improved cassava stems and fertilisers, while 160 youths and women trained as “mangrove vanguards” had gone on to train more than 350 additional community members in mangrove nursery management.

Zabbey added that the project had provided postgraduate scholarships for 100 PhD students and 200 master’s degree students from Ogoni, while another 500 postgraduate students had been approved for scholarship awards.

Wema Bank Names 10-year-old Chimamanda Ozoakpata as One-Day MD/CEO Winner Bennett Oghifo As part of its 2026 Children’s Day celebrations, Wema Bank has announced 10-year-old Chimamanda Diamond Ozoakpata, as the 2026 winner of the Wema Bank One-Day MD/CEO Children’s Day initiative.

Wema Bank is Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT. Introduced in 2025, the Wema

Bank One-Day MD/CEO challenge is an industry first initiative pioneered by Wema Bank to give children across Nigeria a platform to express their ambitions, tap into their unique potential, and get hands-on insight into the responsibility and success that their future careers hold.

The maiden edition saw 12-yearold Chiderije Mbah emerge as the Bank’s first-ever One-Day MD/ CEO and this year, 10-year-old Chimamanda Diamond Ozoakpata,

Head Girl at Redeemers Foundation Nursery and Primary School, has broken a new record, becoming the first-ever female One-Day MD/CEO of Wema Bank after her 1-minute video entry gained over 50,000 views.

Handing over the insignia of office to young Chimamanda, Moruf Oseni, the substantive MD/CEO of Wema Bank shed light on the Bank’s inspiration behind the launch of the One-Day MD/CEO initiative.

According to him, “At our core

is a deep-seated drive for inspiring children and showing them that they have what it takes to fulfil their ambition. For this reason, we launched the One-Day MD/CEO initiative in 2025, giving children the opportunity to step into the demanding yet inspiring role of MD/CEO at one of Nigeria’s longest standing institutions, Wema Bank.

The impact has been phenomenal and this year, we decided to open up that opportunity to another child.

WEDNESDAY, MAY 27, 2026 • T H I S D AY

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Group plc

�e biggest dreams

live in the youngest minds.

Invest in them

Happy Children’s Day

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Nnenna Oti Bus Terminal

ABIA PUBLIC TRANSPORT INFRASTRUCTURE PROJECTS

Abia State Government

Congratulations, Your Excellency, Dr. Alex Otti, OFR. On behalf of the entire Planet Projects Limited team, we warmly congratulate you on the successful completion and commissioning of the Abia Public Transport Projects on May 27, 2026.

This transformative initiative encompasses the N n e n n a O t i B u s Te r m i n a l a n d 4 - J u n c t i o n Improvement Works at Cooperative Junction, FMC Junction, De-Choice Junction, and Government House Roundabout, the rehabilitation of Okpara Avenue, Club Road, and Library Avenue Road, as well as the construction of 30 modern bus station across the state.

We are honored to have contributed to this landmark achievement, which strengthens connectivity, enhances mobility, and sets a new benchmark for organized and sustainable public transportation in Abia State.

PUBLIC TRANSPORT & INFRASTRUCTURE

4-Junction Improvement Works

(Cooperative,FMC,De-Choice & Government House)

3-Road Rehabilitation

(Okpara Avenue, Club Road & Library Avenue Road)

30-Bus Stations

His Excellency

Dr. Alex Otti, OFR Executive Governor of Abia State

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Politics

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

2027: PDP’s Deepening Crisis and the Jonathan Option

The Kabiru Turaki-led faction of the Peoples Democratic Party with former President, Dr Goodluck Jonathan option appears less like a settled presidential project and more like a desperate search for political equilibrium within a party still battling itself. Jonathan Eze reports.

Turaki

T

he renewed crisis within Nigeria’s main opposition party, the Peoples Democratic Party (PDP) has taken a dramatic turn following reports that a faction of the party screened former President Goodluck Jonathan and subsequently cleared him to fly the party’s flag in the 2027 presidential poll.

The development has intensified debates about the future of the PDP, the legality of parallel structures within political parties, and the constitutional implications surrounding Jonathan’s possible return to the presidential race.

At the centre of the controversy is the Kabiru

Jonathan

Turaki-led factional structure of the PDP, which reportedly conducted screenings and granted Jonathan what it described as an automatic waiver and clearance to contest the presidency.

According to reports, the faction claimed the former president did not need to undergo normal screening procedures because of his political pedigree and prior service as deputy governor, governor, vice president, and president.

Former Niger State governor, Babangida Aliyu, who reportedly chaired the screening committee, was quoted as

Wike

saying: “We didn’t see anything that needed screening.”

The statement, though politically symbolic, exposes the widening institutional breakdown within the PDP as rival blocs continue to claim legitimacy.

A Party Fragmented by Power Struggles The PDP’s current predicament reflects years of unresolved internal contradictions. Since losing federal power in 2015, the party has struggled to maintain ideological coherence, regional balance, and command unity among its power brokers.

The rivalry between governors, former ministers, and entrenched party stakehold-

ers has repeatedly weakened its capacity to function as a formidable opposition platform.

The emergence of parallel screening exercises suggests the PDP may now be approaching its most dangerous phase since the defections crisis that preceded the 2015 elections.

While one bloc appears aligned with Minister of the Federal Capital Territory, Nyesom Wike, another faction seems determined to reposition the party outside Wike’s growing influence.

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

Tinubu: Using Peace Building, Conflict Resolution for National Development

Abiodun Oladunjoye writes about various steps already taken by the President Bola Tinubu-led government at the centre towards peace-building and conflict resolution as tools for development in the last three years.

Tinubu

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demili North and South Federal Constituency is made up of two local government areas in Anambra State. Both local government areas are considered the most populous in terms of voter concentration in the entire state, and fall within Anambra Central senatorial zone, but bordering the popular commercial city, Onitsha which though is in Anambra North senatorial district.

Given the above features and the cosmopolitan nature of Anambra State, it is not a surprise that the people of the area are very politically aware, a feature which usually makes elections keen and competitive.

In the run up to next year’s general election, political gladiators in the area are already warming up to pick the tickets of their various political parties for the contest of the House of Representatives seat of the area.

Some of the parties expected to be on the ballot are; the ruling All Progressives Grand Alliance (APGA); an emerging force in the state

Mutfwang

political space, Nigeria Democratic Congress (NDC) and the All Progressives Congress (APC), which is the ruling party in the country.

Bearing in mind the competitive nature of the election, political parties have to choose their best candidates to be able to compete favourably.

While the incumbent member of House of Representatives for the area, Hon Harris Okonkwo is running for a second term on the platform of NDC with few challengers, APGA has four candidates already cleared for the primary election of the party. They included Paschal Metuh, Kenechukwu Igboebisi, Ikenna Iyiegbu and Ifeanyi Ibezi, but sources said just two have the capacity to compete. They are Dr Ifeanyi Ibezi and Hon Ikenna Iyiegbu.

While both men would be going all out to battle it out this coming Saturday

to determine who picks the flag, the zoning arrangement and equity that exists in the area have already put Iyiegbu at advantage against Ibezi, as electorates would be more disposed to a candidate from Idemili South Local Government Area where Hon Okonkwo hails from.

Presently, the people of the area seem disposed to having a representative from Idemili South, because of the zoning formula and the need for the people of the zone to equal the number of turns already taken by their counterpart in Idemili North which leaves Okonkwo at an advantageous position for the seat.

But Okonkwo who is positioned for the position is being challenged by four other candidates for the ticket of NDC. They are Chuka Ezewune, Eric Anyaneme, Ifeanyi Mbanusi and Chiogo Ikokwu.

Sources said Okonkwo stands a better chance to fly the party’s ticket for several reasons.

He is an incumbent in the position, and NDC needs to field a candidate who has both the financial capability and the popularity to match other candidates from other parties.

Also, Okonkwo has remained consistent in being a supporter of the presidential hopeful of the party, and his support as an incumbent would be useful for Peter Obi in ensuring a landslide victory in Anambra State at the presidential election.

Though APC remains the ruling party in the country but its impact and visibility is not felt in Anambra State.

So it’s candidate would not be seen as much threat to both APGA and NDC, which has suddenly become the darling party of electorates, because of the love for Obi who could emerge the party’s presidential ticket.

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

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T H I S D AY • wednesday, MAY 27, 2026

FEatures

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

How NAFRC is Deepening Entrepreneurship Training for Military Personnel in Preparation for Civil Transition

As economic realities continue to redefine retirement and post service opportunities, the Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos, is equipping military officers with entrepreneurial and management skills aimed at preparing them for productive life beyond the uniform. Chiemelie Ezeobi reports that the recent inauguration of the Senior and Mid Level Officers’ Entrepreneurship and Management Course 18/2026, highlighted the growing importance of innovation, leadership and business education in helping officers transition successfully into civilian life

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or many military officers, retirement from active service often comes with difficult questions about transition, relevance, financial stability and life beyond the barracks.

While years in uniform build discipline, courage and leadership, adapting to the civilian business environment can sometimes prove challenging without deliberate preparation.

It is against this backdrop that the Nigerian Armed Forces Resettlement Centre (NAFRC), Oshodi, Lagos, continues to position itself as a bridge between military service and post service productivity through entrepreneurship and management training.

That vision came into sharper focus during the inauguration ceremony of the Senior and Mid Level Officers’ Entrepreneurship and Management Course 18/2026 held at the NAFRC Resource Centre Auditorium.

The event was not merely another official gathering. It reflected a growing recognition within Nigeria’s military establishment that preparing officers for retirement now goes beyond pensions and ceremonial send offs.

Increasingly, attention is shifting towards entrepreneurship, innovation, management skills and sustainable economic empowerment.

The course, organised in partnership with the Empretec Nigeria Foundation, brought together participants drawn from Defence Headquarters, the Defence Intelligence Agency and NAFRC itself for intensive training designed to prepare them for life after service.

Building Confidence Beyond Service Commandant of NAFRC, Air Vice Marshal Nnaemeka Ignatius Ilo, set the tone for the event as he formally inaugurated the programme and congratulated participants for being selected for what he described as a highly coveted course.

Addressing the officers, he stressed that the training was designed to equip them with practical entrepreneurial and leadership skills necessary for navigating the civilian world successfully.

“Let me personally congratulate each and every one of you for being nominated to attend such a highly coveted course which would no doubt prepare you for meaningful and rewarding engagements in future,” he said.

The Commandant expressed confidence that the programme would expose participants to the realities of business management while helping them cultivate the right mindset for leadership and innovation.

“I am indeed confident that the Course will deepen your understanding of the civilian business environment, strengthen your decision making skills and help you cultivate a mindset of innovation, resilience and adaptability needed to navigate the dynamic world of business and leadership.”

Beyond the participants, Air Vice Marshal Ilo also used the occasion to appreciate the military high command and political leadership for sustaining support for the initiative. He specifically acknowledged the Chief of Defence Staff, service chiefs, the Chief of Defence Intelligence, the Minister of Defence and President Bola Ahmed Tinubu for providing the necessary backing and resources required for the programme.

The graduands during the inauguration of the Senior and Mid Level Entrepreneurship and Management Course 18/2026 to equip military officers with entrepreneurial, managerial and leadership skills for effective post service life

NAFRC Commandant, AVM Ilo

“I want to also thank the Minister of Defence, Gen CG Musa, OFR (rtd), as well as the President, Commander in Chief of the Armed Forces, Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, for providing the necessary resources for this training."

The Commandant also paid tribute to Mrs. Onari Duke for initiating the partnership that introduced the entrepreneurship initiative to the Armed Forces.

For NAFRC, the course represents more than training sessions and lectures. It is part of a broader effort to redefine retirement preparation for military personnel in a changing economic environment where entrepreneurship and innovation increasingly determine financial stability.

When Entrepreneurship is no Longer Optional The Special Guest of Honour, Air Vice Marshal Abubakar Sule, Air Officer Commanding Logistics Command, Nigerian Air Force, Lagos, delivered perhaps the strongest message on the changing realities facing retiring military personnel.

According to him, the modern economy demands more than technical expertise acquired during active service. Officers must now prepare to become entrepreneurs, employers and strategic leaders in civilian life.

He described NAFRC as a critical institution in Nigeria’s development framework, noting that the Centre has evolved beyond its traditional role of resettling retired personnel.

“The Nigerian Armed Forces Resettlement Centre occupies a strategic position in our national development architecture,” he said.

“Beyond its traditional mandate of resettling retiring personnel, the Centre has evolved into a hub for entrepreneurship development, skills acquisition and managerial capacity building.”

For him, the inauguration of Course 18/2026 reflects the Centre’s determination to equip officers with practical skills relevant to present economic realities.

“The inauguration of Course 18/2026 is yet another testament to the Centre’s resolve to empower participants with relevant knowledge, practical skills and the right mindset required to succeed in today’s competitive world.”

He emphasised that entrepreneurship has become essential for national growth and personal sustainability.

“Entrepreneurship is no longer an option, it is a necessity. It is a critical driver of economic growth, job creation and self reliance.”

The Air Officer Commanding challenged participants to take the programme seriously, warning that the true value of the course would depend largely on their commitment and willingness to learn.

“You have been selected for a programme that holds immense potential for your future. However, the value you derive from this course will depend largely on your level of commitment, discipline and willingness to learn.”

He also encouraged them to think beyond seeking employment after retirement and instead develop the capacity to create opportunities for others.

“The knowledge you acquire here should position you not just as job seekers, but as job creators and leaders of industries.”

In a rapidly changing world shaped by technology and global competition, he urged participants to embrace innovation and adaptability while maintaining integrity and ethical standards in business.

“The world of business is dynamic, influenced by technology, globalisation and changing consumer behaviour. Therefore, you must cultivate the ability to innovate, embrace digital tools and respond proactively to emerging challenges and opportunities.”

Expanding Opportunities for Officers Earlier, the Director of Training, Brigadier General IE Akpaumontia, welcomed guests and participants while providing insight into the structure and growth of the programme.

According to him, the Entrepreneurship and Management Courses for Middle and Senior Level Officers were previously conducted twice yearly but have now been approved to hold quarterly.

The adjustment, he explained, was

intended to accommodate more officers and widen access to entrepreneurship and business management training.

“It has now been graciously approved to hold quarterly in order to accommodate more Middle and Senior Level Officers,” he said.

“This would also give them the opportunity to gain from the technical knowledge on business management and entrepreneurship training in preparation for life after service.”

He disclosed that the current course had 17 participants drawn from Defence Headquarters, Defence Intelligence Agency and NAFRC. Brigadier General Akpaumontia also outlined the practical components of the programme, including lectures on agriculture, food and animal production, workshops and study tours to industries and business organisations.

Participants are expected to visit Spectra Industries Limited, Nigerian Conservation Centre, Commint Buka and Cormat Nigeria Limited, while a foreign study trip to Songhai Farms in Port Novo is also planned.

The Director of Training praised the Commandant for supporting personnel development and welfare initiatives within the centre.

He also urged participants to remain disciplined, security conscious and fully engaged throughout the training.

Investing in Human Capital Speaking on behalf of the Empretec Nigeria Foundation, Dr. Onari Duke, represented by Dr. Lemmy Omololu, described the programme as a strategic investment in national development and human capital growth.

According to her, the initiative is aimed at transforming military experience into enterprise leadership and economic impact.

She explained that the programme combines entrepreneurship development, leadership training and management studies with practical industry exposure designed to prepare participants for real world business challenges. Dr. Omololu noted that the collaboration between NAFRC and the Empretec Nigeria Foundation demonstrates a shared commitment to strengthening economic resilience through entrepreneurship education. As the programme progresses through May 2026, participants are expected to undergo structured academic sessions, workshops and practical engagements before a joint graduation ceremony later in the month.

Beyond certificates and official ceremonies, however, the larger objective remains clear, preparing officers not just to retire from service, but to transition into productive and impactful lives beyond the uniform.

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WEDNESDAY, MAY 27, 2026 • T H I S D AY

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T H I S D AY WEDNESDAY MAY 27, 2026 22 TR

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& RE A S O

Wednesday May 27, 2026 Vol 27. No 11367

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opinion@thisdaylive.com

www.thisdaylive.com

HIGH STAKES SHAPING 2027 PRESIDENTIAL RACE The ruling party is going into the election from a position of strength, contends IFEANYICHUKWU AFUBA

See page 23

ISSUES IN THE AMUKPE-ESCRAVOS PIPELINE

JOHNSON MOMODU argues the need to reopen the asset to genuine competition based on present realities

See page 23

EDITORIAL

A SEASON OF SACRIFICE AND LOVE

See page 24

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The IPO is a potential blueprint for shared prosperity across Africa, argues KALU OKORONKWO

DANGOTE REFINERY’S WALL STREET-SIZE IPO The proposed Initial Public Offering (IPO) of the Dangote Refinery is not merely another corporate listing. It is emerging as a defining economic milestone capable of reshaping how mega projects are financed, wealth creation democratised and Nigeria’s capital market deepened.

The planned Dangote Refinery IPO signals more than a corporate expansion; it reflects a deliberate effort to redefine who participates in Africa’s economy wealth creation. At the heart of the offering is a powerful idea: ordinary Africans should not only consume the products of industry giants, but also own a stake in the value they create.

For decades, Nigeria’s economic story has been shaped by contradictions: a resource-rich nation burdened by import dependence, a vast consumer market constrained by weak industrial capacity, and a capital market often too shallow to finance transformational infrastructure at scale.

With projected valuation estimates ranging between $40 billion and $50 billion, and an expected capital raise of up to $5 billion through the offering of about 10 percent equity, the listing is already being described by analysts as one of the most ambitious capital market transactions ever attempted on the African continent.

Beyond the valuation headlines and market projections, the most compelling aspect of the IPO is its broader philosophy: inclusive participation in value creation.

According to the company’s stated vision, the objective is not simply to raise capital, but to enable everyday investors across Africa to participate in the kind of long-term wealth creation that transformed global markets through companies such as Amazon and Apple. These firms not only redefined industries; they also created generational wealth for investors who believed in their long-term industrial and technological trajectories. That is the model the Dangote Refinery appears determined to replicate in Africa.

“We want ordinary Africans to participate in the value being created.

What companies like Amazon and Apple achieved for investors globally is the kind of wealth creation we want to replicate in Africa. We want people to invest, grow with us, and share in the prosperity,” Dangote stated.

In many African economies, industrialization has largely remained

within the domain of governments, multilateral institutions, and private conglomerates, with limited opportunities for broad public participation in wealth creation. By opening equity ownership to public investors, the Dangote Refinery may be attempting to bridge the gap between industrial expansion and inclusive prosperity.

Companies typically go public to raise capital for expansion, provide exit opportunities for early investors, or enhance public credibility and visibility. For investors, IPOs present an opportunity to participate early in a company’s public market journey.

However, the Dangote Refinery IPO stands apart from previous Nigerian listings because of its unprecedented scale. When MTN Nigeria listed on the Nigerian Exchange (NGX) in 2019, it raised approximately $876 million, then regarded as the largest listing on the exchange. The Dangote Refinery IPO, targeting up to $5 billion, could be five to six times larger than the previous record transaction on the NGX. On a continental level, analysts have drawn comparisons with Saudi Aramco’s 2019 listing, where a dominant energy infrastructure asset was opened to public ownership for the first time. The comparison is fitting.

Both transactions involve strategic national-scale energy assets once assumed to remain privately controlled indefinitely.

The Dangote Petroleum Refinery and Petrochemicals is located in the Lekki Free Trade Zone in Lagos.

Commissioned in May 2023 after nearly a decade of construction and an investment estimated at $20 billion, the refinery has rapidly become one of Africa’s most strategic economic assets.

By February 2026, the facility had reached its full processing capacity of 650,000 barrels of crude oil per day, making it the world’s largest single-

train refinery and Africa’s largest refining complex by capacity. It now supplies a substantial share of Nigeria’s domestic fuel demand while exports continue to expand across African and international markets.

The refinery produces petrol, diesel, aviation fuel, and petrochemical products. It also manufactures polypropylene, a key industrial material used in plastics and packaging production, alongside alkyl benzene used in detergent manufacturing. At full operational capacity, the facility is expected to help transform Nigeria from a net importer of refined petroleum products into a net exporter.

Beyond output, the refinery’s economic impact is already visible. It has reportedly created about 150,000 direct and indirect jobs, while over 60,000 engineers and technical personnel have benefited from training and capacity development linked to the project.

Its export footprint is equally significant. Refined products are already being shipped to Ghana, Cameroon, Togo, Tanzania, and European markets.

Jet fuel exports alone reportedly grew by 770 percent between 2024 and 2026, with Europe importing approximately 70,000 barrels daily to offset supply disruptions linked to geopolitical tensions in the Middle East.

Investor appetite for the IPO already appears strong. Reports indicate that private placement requests exceeded $2 billion even before the official public offering process commenced, reflecting growing confidence not only in the refinery itself but also in Nigeria’s broader industrial potential.

The proposed dividend structure has also generated considerable attention within financial circles. Under the arrangement being considered, investors would purchase shares in naira while receiving dividends linked to the US dollar. Although still subject to regulatory approval, the structure is designed to hedge against currency depreciation and strengthen investor confidence in long-term returns.

If approved, such a framework could become one of the most innovative capital market structures introduced in Nigeria in recent years, particularly in an economy where currency volatility remains a major concern for investors.

Okoronkwo is a communications strategist, a leadership and good governance advocate

T H I S D AY

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The ruling party is going into the election from a position of strength, contends IFEANYICHUKWU AFUBA

HIGH STAKES SHAPING 2027 PRESIDENTIAL RACE

Nigeria's elections, especially of the presidential brand, is only marginally a function of performance, competence or legitimacy. It's a fierce struggle either of ascendancy or for supremacy. Between the APC and the motley of opposition parties bracing for the January 2027 presidential poll, there is hardly any space for altruistic motives. What is currently playing out in the political field is contest for power shaped in varying degrees by personal ambition; group solidarity, geo ethnic competition, civic engagement as well as religious/ideological loyalties.

When general Yakubu Gowon was overthrown as Head of State, July 29, 1975, it was not because life was hard for Nigerians. On the contrary, Nigeria was a Paradise at the time. The naira was almost twice the dollar in value, with one dollar exchanging for sixty-five kobo. Food was cheap. Workers received car and housing loans for the asking. The operation against Gowon revolved around power interests. The north central state - born general was seen to be personalising the throne by sitting tight for nine years. Others who invested in the July 1966 conspiracy that brought him to power wanted a piece of the benefits too.

By the logic of wars being politics by other means, we are reminded that coups are also politics by other means. And while socio - economic discontent may have existed by December 1983, the toppling of Shehu Shagari government put paid to the hopes of Alex Ekwueme's ascent as President in 1987. Aside its barracks reflexes and ethnic bias, the Buhari junta showed seriousness in bringing sanity back to government. But in continued run of presidential obsession, Buhari's regime was overthrown by the Ibrahim Babangida faction of the military political party just after twenty months. And for good measure, the new military ruler took the laundering title of President!

The structure, character and direction of Nigeria's government and politics has not changed. It would therefore be unrealistic to expect a shift in the determination and management of the 2027 presidential election. In 2023, Bola Ahmed Tinubu laid claim to the presidency with the declaration, emilokan (it's my turn).

The relay race concept is widely shared

by Nigeria's political elite. Its emphasis is

on power calculus rather than governance.

With focus on political ambition, the vacuity of regular party defections is lost on the political class. The scandal of political promiscuity, of constant shuttling from one party to another which should provoke sobriety and remorse, is loudly defended as tactics; strategy; being one step ahead. And the same poverty of leadership makes it possible for the APC, with its woeful performance, to join the race with straight face and indeed, be the front runner in the 2027 presidential contest.

For the present administration, increased foreign investment, favourable trade deals, economic policy reforms, ongoing infrastructure projects, improved foreign exchange reserve and federation account allocation to States are evidence of some major achievements. The critical question however, is how have these impacted on the lives of Nigerians? High - sounding statistics without corresponding influence in the socio - economic wellbeing of Nigerians is nothing to cheer about. The low - purchasing power of the naira contradicts claims of economic successes. Add to that the biting cost of fuel and unavailable electricity and the suffering that millions of Nigerians currently endure becomes obvious. But in spite of this damning report card, the APC with Tinubu as candidate, the ruling party will be going into the election battle from a position of strength.

The APC's capacity will not be entirely because of the resources it controls. Part of the strength of Tinubu's APC ticket will come from the inability of the opposition to present a united front. It's settled electoral empiricism that opposition political parties stand the best chance against incumbents with a common candidate.

How did the much - celebrated opposition to the Bola Tinubu presidency walk straight into the tight corner that leaves it weakened against the APC in the 2027 presidential poll? In geographical spread, leadership composition, civic and social appeal, the ADC was a great force with the potential of winning the next presidential election.

Until the breakaway by Mr Peter Obi and Dr Rabiu Kwankwaso into the National Democratic Congress (NDC).

Afuba is of Governance & Development Forge, Awka

JOHNSON MOMODU argues the need to reopen the asset to genuine competition based on present realities

ISSUES IN THE AMUKPEESCRAVOS PIPELINE

There are moments when a single transaction reveals how seriously a nation values its own assets.

The proposed sale of a 40 per cent stake in the Amukpe-Escravos Pipeline has become exactly that. Not because the deal is complicated. Because the deal keeps coming back at the same old price as if nothing has changed.

That should not be the case because this is not a dusty, underperforming relic.

The 67-kilometre pipeline, with its 20inch buried system and nameplate capacity of 160,000 barrels per day, ranks among the more reliable crude evacuation routes in the Niger Delta. It has delivered strong operational uptime around 95 per cent or higher. It has moved tens of millions of barrels. It has offered producers a dependable link to Chevron’s Escravos terminal.

In a region plagued by theft, vandalism, and frequent outages, that consistency directly supports export stability, revenue, and investor confidence.

To put it in plain words: this pipeline works. And that fact is important.

Financed through Nigerian banks and Afreximbank, lenders are still exposed.

Encouragingly though, the asset continues to generate revenue under an existing joint operating framework.

Yet the current push to revive a deal that collapsed in October 2024 risks selling this performing asset far below its true worth.

The original offer for the 40 per cent stake stood at about $243 million. That figure belonged to a transaction involving Conpurex Limited. A transaction that failed when payment obligations were not met and terms could not be honoured.

That should have been the end of it. Instead, elements of that terminated process appear determined to linger.

Meanwhile, since the original deal collapsed, the pipeline has continued to operate. Reliably. Profitably.

Independent valuations conducted in 2025 now place the same 40 per cent stake significantly higher. Between $544 million and $641 million.

Let that sink in.

A gap of nearly $300 million at the low end. That is not a rounding error. That is money that would simply vanish from the public till if this deal proceeds on old terms.

And for what? For the convenience of reviving a failed transaction without a proper reset?

It is interesting how Professor Okey Ikechukwu, Executive Director of the Development Specs Academy, has put his finger on the crux of the matter.

He has called for the termination of the existing sale process. He argues that Nigeria should not dispose of a strategic, high-performing asset using outdated assumptions from a failed transaction. He is right.

Nigeria is not so cash-strapped that it must treat valuable infrastructure like distressed goods in a clearance sale. Proceeding on the old terms would short-change

the country by hundreds of millions of dollars. It would undermine trust in how we manage national assets.

It is not surprising that a lenders’ syndicate led by Sterling Bank and AMCON has rightly voiced concerns. They want the process tied to the collapsed deal terminated. Outdated approvals cancelled. A fresh independent valuation conducted.

The asset offered through transparent, competitive bidding.

These are not obstacles to investment.

They are basic requirements for credibility. And they are exactly what a proper reset demands.

Moreover, let us all remember that Nigeria is at a sensitive point in its oil and gas journey.

International companies are exiting onshore assets. Local operators are stepping up. The Petroleum Industry Act framework is still being tested. In this environment, how the country handles strategic infrastructure sends a clear signal to domestic and foreign capital.

Rushing through a deal on outdated terms would suggest that performance does not count. That market realities can be set aside for convenience. That closure is never final.

That perception has cost Nigeria dearly in the past. Serious investors are not scared off by proper process. They are discouraged by the untidy optics of shortcuts.

Let’s be clear about one fact: the Amukpe-Escravos Pipeline has earned its value.

Through real performance. In tough terrain.

Against the backdrop of a region where pipelines are more often stolen from than relied upon. Its reliability matters. Its strategic location matters. Its contribution to national revenue matters.

So does the broader principle at stake.

Nigeria must learn to recognise and defend the worth of its assets. Not just proclaim it. Defend it.

The right path, therefore, is clear.

Pause the current process. Terminate the configuration linked to the failed bid.

Commission a current, independent valuation. Reopen the asset to genuine competition based on present realities.

Momodu is a public affairs analyst

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EDITORIAL

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

A SEASON OF SACRIFICE AND LOVE There is need for obedience, sacrifice and unity

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s Muslims all over the world celebrate the festival of Eid al-Adha, better known as Eid-el-Kabir, yet another opportunity has been offered to all the adherents of the faith to live the true meaning of this occasion: sacrifice, obedience and love. What makes Eid-el-Kabir particularly significant is the fact that it is rooted in the scriptural accounts of both Islam and Christianity about how Prophet Ibrahim (Abraham), in obedience to God was to sacrifice his son before divine intervention. This year’s celebration, like in the past few years, is coming at a particularly difficult and trying time for our nation. On a day such as this, therefore, Nigerians must reflect while also praying for better days ahead.

Eid-el-Kabir, according to President Bola Tinubu, reminds us of the enduring virtues exemplified by Prophet Ibrahim—faith, obedience, and the willingness to sacrifice for a higher purpose. “This sacred festival calls on all Muslims, and indeed all Nigerians and the whole of humanity, to embrace sacrifice, selflessness, unity, and compassion for our fellow human beings,” he said. “One central lesson of Eidel-Kabir is the call to show mercy and compassion, regardless of race, ethnicity, or creed. There is no greater example of duty and devotion than Prophet Ibrahim’s willingness to offer his only son, Ismail, as a sacrifice to Allah.”

Indeed, this is a season that all Nigerians must rededicate to the cause of mankind, appreciate the gift of life and imbibe the virtues of tolerance, understanding and good neighbourliness. More importantly, it is a period that calls for sacrifice and sharing. It is also a time of spiritual reflection, family connection, and communal celebration. Incidentally, with many Nigerians suffering hunger, poverty and disease, ironically in a country often

measured in superlatives, perhaps no period in our history offers better opportunity to share and to make sacrifice. By allowing others to partake in our wealth or material possessions, we honour the One who made the provision in the first place.

This happens to be at the heart of all religions, but a virtue that is particularly at the heart of this festival.

However, even for this season, there should be more to sharing than some portions of ram meat.

There is the need to share love, between and among individuals, religions, ethnic groups and political leanings. It will also help the process of healing the deep wounds sparked by politics and the manipulation of religion and ethnicity.

Today, thousands of innocent women, children and men have been killed, maimed or displaced by adherents of some blood thirsty sects that profess to be acting in defence of Islam, a religion synonymous with peace. The future of many children who can no longer attend schools has been thrown into jeopardy while a huge percentage of the wealth of the nation is being diverted to fighting an internal and unnecessary war.

But, as we have had occasions to state in the past, what we are witnessing today in our country is a collapse of the traditional authority and the political consensus that have for decades held this nation together.

Against the background that there are usually challenges in the process of integrating members of any society into a cohesive social whole, what confronts us is not particularly peculiar. Therefore, as we celebrate this special festival, we must imbibe the ethos of sacrifice and humility for the promotion of harmonious relationship in the country. We must also take this opportunity to reach out to everyone in encouraging peace and unity.

To our numerous Muslim readers, Eid Mubarak!

We must imbibe the ethos of sacrifice and humility for the promotion of harmonious relationship in the country T H I S D AY

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

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

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

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

LETTERS NIGERIA AND CHINA: A PARTNERSHIP BUILT ON MUTUAL RESPECT

When President Donald Trump arrived in Beijing alongside America’s most powerful business executives, the world was reminded that economic interdependence remains one of the most powerful forces in international relations. Beneath the trade and investment agenda, however, ran a question China has never left unanswered, the One-China Principle, and Beijing’s absolute, unwavering commitment to it.

For China, this is a matter of sovereign certainty. The People’s Republic of China is the world’s only legitimate Chinese government, and Taiwan is an inalienable part of its territory. This is not a position Beijing has hedged or softened across decades of shifting global politics. It is the bedrock on which China conducts its diplomacy and evaluates the reliability of its partners. China’s consistency on this question reflects not inflexibility, but the depth of a national conviction rooted in history, sovereignty and the long arc of Chinese civilisation, and for nations that share

these values, China has proven to be a committed and consequential partner.

Nigeria is one such nation. Since establishing diplomatic relations with Beijing in 1971, Nigeria has maintained a clear, principled and unbroken adherence to the One-China Principle. This position flows directly from Nigeria’s own foreign policy tradition, grounded in respect for sovereignty, principle of non-interference and the belief that nations must be free to determine their own paths. Nigeria and China share a philosophical foundation that gives their relationship a depth that goes well beyond transactional interest.

That shared foundation received its most authoritative expression when President Bola Ahmed Tinubu met President Xi Jinping in Beijing in 2024. The joint statement was unequivocal: Nigeria affirmed adherence to the One-China Principle, recognised the Government of the People’s Republic of China as the sole legal authority representing

the whole of China, regarded Taiwan as an inalienable part of Chinese territory, and expressed full support for China’s pursuit of national reunification. These were not words of diplomatic courtesy. They were the deliberate reaffirmation of a partnership grounded in mutual respect and longterm strategic alignment.

Nigeria’s legislature has reinforced this position with equal clarity. Recently, Jafar Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations recently confirmed that Nigeria’s stance is clear, consistent and firmly rooted in international law and bilateral agreements. Nigeria’s commitment to the One-China Principle is not the policy of one administration. It is a settled, cross-institutional expression of national conviction.

Joseph Tegbe, Director-General of Nigeria-China Strategic Partner-

25

T H I S D AY • Wednesday, May 27, 2026

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

M a y

S & P INDEX

2 6 ,

2 0 2 6

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,348/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT Tues., May 26, 2026

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

At 27.86%, GTCO Leads Banking Sector with Lowest Cost-to-Income Ratio

Kayode Tokede Despite regulatory costs and high inflation that remain key drivers of growth in operating expenses, Guaranty Trust Holdings Company Plc (GTCO), recorded the lowest Cost-to-Income Ratio (CIR) in the 2025 financial year.

As against nine other Deposit Money Banks (DMBs) analysed by THISDAY, GTCO recorded Cost-to-Income Ratio of 27.86 per cent from 24.14 per cent reported in 2024.

The DMBs investigated are: Fidelity Bank Plc, Stanbic IBTC Holdings Plc, Wema Bank Plc

Sterling Financial Holdings Company Plc, and Jaiz Bank Plc. Others include: Access Holdings Plc, First Holdco Plc, United Bank for Africa Plc and Zenith Bank Plc. CIR is important for determining the profitability of a bank and it gives a clear view of how efficiently the bank is being run. The lower the ratio, the more profitable the bank.

In the banking sector, CIR is a critical indicator of operational efficiency. A lower CIR can reflect better cost management, higher productivity, or both. However, it should be analysed

alongside other metrics like Return on Equity (ROE) and Net Interest Margin (NIM) for a holistic assessment.

For banks, an ideal CIR is typically between 40 per cent and 60 per cent, though this can vary based on the industry and geographic region.

Inflation in key African economies where most of these DMBs operate remained generally moderate toward the end of 2025.

Kenya’s inflation held at 4.5 per cent, below the policy midpoint, while Tanzania, Uganda and Rwanda continued to record stable, low single-digit inflation, reflecting effective monetary policy

and easing price pressures.

Ghana recorded the sharpest disinflation, with inflation falling to 5.4 per cent, its lowest level since 2022.

Nigeria’s headline inflation rate eased significantly to 15.15 per cent in December 2025, from above 30 per cent in 2024, following a methodological revision by the National Bureau of Statistics (NBS).

The NBS shifted the base year from 2009 to 2024 to better reflect consumer spending. The MPR was held at 27.50 per cent before a slight cut to 27 per cent in September, alongside adjustments to the corridor and CRR. The sharp decline

also reflects CPI rebasing to a 2024 base year using a 12-month average, which helped smooth base effects THISDAY analysis of Nigerian DMBs showed that GTCO had declared 48.03 per cent in 2022, one of the highest in over 10 years.

However, GTCO in 2025 reported N475.4 billion operating expenses (OPEX), about 17.9 per cent increase over N403.0 billion in 2024, with non-controllable cost mix increasing to 16.3 per cent of the total operating expenses in 2025 from 14.5per cent in 2024. Operating income closed 2025 at N4.09 trillion, about 31.05per cent increase over

N312 trillion in 2024.

“Improved operating metrics, with declining costto-income ratio and expanding returns, reflecting broader ecosystem efficiency gains and platform scalability,” the lender explained.

GTCO also led the banking sector with Return on average equity of 70.2 power cent in 2025 from 48.2 per cent in 2024.

The lender in the period under review emerged as the second most profitable bank after Zenith Bank, reporting N1.23 trillion profit before tax in 2025.

The story continues online on www.thisdaylive.com

Cash Outside Banks Extends Decline to N5.08tn as Liquidity Returns to Formal System Nume Ekeghe

Currency outside banks (COB) declined further to N5.08 trillion in April 2026, extending the recent moderation in cash holdings and pointing to a gradual return of liquidity into Nigeria’s formal financial system amid tighter monetary conditions.

Latest data from the Central Bank of Nigeria (CBN) showed that currency outside banks

fell to N5.083 trillion in April from N5.19 trillion in February, reinforcing a downward trend that began after cash levels peaked at the end of 2025.

Similarly, currency in circulation (CIC) eased to N5.646 trillion in April from N5.71 trillion in February, indicating a broader slowdown in physical cash growth across the economy.

The latest figures suggest that some of the excess

liquidity that built up during the final quarter of 2025 is gradually flowing back into the banking system, supported by elevated interest rates, tighter liquidity management, and sustained monetary tightening by the apex bank.

The decline in COB now marks the third consecutive monthly moderation since December 2025, when cash outside banks rose to a record N5.40 trillion amid

festive spending pressures, inflation-driven transaction demand, and persistent reliance on physical cash across the informal economy.

Before the latest April reading, COB had eased slightly to N5.21 trillion in January and further to N5.19 trillion in February.

With April’s figure at N5.08 trillion, cash outside the banking system has now declined by more

than N316 billion from its December peak.

A similar pattern has emerged in total currency in circulation. CIC, which stood at N5.73 trillion in January before easing to N5.71 trillion in February, moderated further to N5.65 trillion in April.

The trend reflects the impact of tighter monetary policy conditions as the CBN continues efforts to contain inflation, mop up

excess liquidity, and improve monetary policy transmission within the economy.

Higher yields in the fixed income market have also encouraged more funds to return to formal financial channels, while the growing adoption of electronic payment systems may be helping to moderate physical cash demand.

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T u e s d ay, M ay 2 6 , 2 0 2 6 BONDS Description Price Yield Change Updated Time (%) ^13.98 23May 95.77 16.80 0.00 26, 2026 FEB-2028 May ^21.00 20107.47 16.09 0.00 26, 2026 MAR-2028 ^19.30 17May 105.84 16.66 -0.13 APR-2029 26, 2026 ^14.55 26May 96.25 16.19 0.00 APR-2029 26, 2026 ^18.50 21May 105.09 16.87 0.17 26, FEB-2031 2026

BILLS Maturity NTB 4-Jun26 NTB 9-Jul26 NTB 6-Aug26 NTB 3-Sep26 NTB 8-Oct26

Discount Yield

CPs

Change (%) Updated Time

Maturity

15.72

15.83

May -0.01 26, 2026

15.68

16.03

May -0.01 26, 2026

15.74

16.30

May 0.00 26, 2026

16.02

16.81

May -0.01 26, 2026

17.29

May 0.19 26, 2026

SKMP CP L 12-JUN-26 DANS CP XVI 14-JUL-26 HAAI CP X 7-SEP-26 PCLL CP V 25-SEP-26 AGRO CP IV 7-DEC-26

16.20

Discount Yield 22.56

22.90

19.73

20.34

21.27

22.73

21.03

22.71

20.36

22.94

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

May 0.00 26, 2026 May 0.00 26, 2026 May 0.00 26, 2026 May 0.00 26, 2026 May 0.01 26, 2026

Contract Tenor Contract (Month)

Current Rate ($/₦)

Updated Time

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

26

Wednesday, May 27, 2026 • T H I S D AY

BUSINESSWORLD

News

CBN Liquidity Operations Shape Orderly Market Conditions , N2.0 4 t n I n f l o w s Expected Nume Ekeghe

total projected inflows.

FGN bond coupon Data from the Financial payments stood at N47.84 Markets Dealers Association billion, down from N161.28 (FMDA) has showed that billion previously, while average system liquidity commercial paper maturities declined by 17.68 per cent were recorded at N23.10 to N4.40 trillion last week, billion. There were no FGN as the Central Bank of bond maturities or FAAC Nigeria (CBN) mopped up inflows during the period about N4.55 trillion through under review.

FMDA data also showed liquidity management that total estimated inflows operations.

According to FMDA data, declined to N2.04 trillion Open Market Operations from N3.03 trillion in the (OMO) continued to previous week.

In the foreign exchange account for the bulk of the naira liquidity movements in the market, financial system, with OMO depreciated slightly at maturities recorded at N2.25 the official window, while trillion, while N1.97 trillion overall turnover in the Nigerian Foreign Exchange is expected this week.

Looking ahead, FMDA Market (NFEM) declined data indicated that by more than 40 per cent. about N2.04 trillion is External reserves recorded expected to flow into a marginal increase during the system this week the week.

Oil prices declined by from maturing securities, largely driven by OMO 2.44 per cent on average maturities, which account to $101.76 per barrel, amid for about 97 per cent of easing supply concerns

and cautious sentiment in global markets. In the equities market, both the

All-Share Index (ASI) and market capitalisation recorded slight declines.

Fixed income yields remained broadly stable during the week, despite

mixed movements across bond and Treasury bill maturities.

NAICOM Reinstates Commitment to Building Virile Insurance Industry

Ebere Nwoji

The National Insurance Commission(NAICO), has reinstated its commitment to building virile insurance sector through strengthening of cross-sector collaboration

for a more resilient, inclusive, and innovationdriven insurance industry in Nigeria.

The commission stated this at the 21st Insurers Committee Meeting held in Lagos.

The Commissioner for Insurance Mr Olusegun Ayo Omosehin addressing insurance Chief Executives at the meeting advocated advances risk-sharing and financial sector collaboration.

He highlighted the

importance of strategic partnerships in enhancing portfolio risk sharing, optimising the insurance value chain, and aligning industry practices with national economic development priorities.

NISER Presents Medium-term Outlook for the Nigerian Economy The Nigerian Institute of Social and Economic Research (NISER) has presented its latest outlook for the Nigerian economy for the period 2026–2028 at the NISER Research Seminar Series (NRSS) held in Ibadan.

The seminar, themed, “Prospects for the Nigerian Economy, 2026–2028,”

provided insights into the expected direction of the Nigerian economy over the medium term based on the Institute’s Macroeconometric Model (Version ’24).

According to the report, the Nigerian economy is expected to experience gradual stabilization and moderate recovery over the

next three years.

The projections are driven by ongoing economic reforms, improving government revenue performance, stronger fiscal conditions, and continued growth in non-oil sectors of the economy.

NISER projects that Nigeria’s Gross Domestic Product (GDP) growth rate

will increase steadily from 3.92 per cent in 2025 to 4.72 per cent in 2026, 4.85 per cent in 2027, and 5.02 per cent in 2028.

The projected growth is linked to continued policy reforms, infrastructure development, improving macroeconomic stability, and favourable global economic conditions.

As NLC Battles Non-pension Compliant Employers Barely three days to the commencement of its threat of crackdown on non-pension compliant employers, labour and pension sector analysts have cautioned the NLC to handle the situation with care to avoid closure of small businesses, which will lead to employment, Ebere Nwoji reports

T

he Nigerian Labour Congress (NLC), has said that effect from June 1, 2026, it would crack down on nonpension remitting employers as well as employers who have not keyed into the Contributory Pension Scheme (CPS) for their workers in line with the Pension Reform Act 2014.

The Chairperson NLC Lagos State Chapter Council, Funmi Sessi, who stated this at an interactive session between the executive members of the congress and the National Pension Commission (PenCom) recently in Lagos insisted that from June 1st, the congress would declare a statewide enforcement action against government institutions, private companies and any employer that failed to remit workers’ pension deductions and those that have failed to set up pension plan for their workers. She warned that defaulting employers would face prosecution and public exposure beginning from June 1, 2026. Sections 3(1) and 2(2) of the Pension Reform Act (PRA) 2014 mandate employers to set up and participate in the CPS for their workers. The Act states that in keying into the scheme, every employee should open a Retirement Savings Account (RSA) with any Pension Fund Administrator of his choice and at the end of every month his employer should deduct 8 percent of his salary and save into the RSA account while contributing 10 per cent of his fund into the same savings account for the employee.

According to the law, such deductions from the employee ‘s accounts should be remitted into his RSA not later than seven days after payment of his monthly salary.

However, under Section 2(3) of the Pension Reform Act (PRA) 2014, employers with fewer than three employees are not automatically mandated to operate the CPS but they are legally entitled to participate voluntarily or enroll in the Micro Pension Plan established by the National Pension Commission (PenCom) which is now called Personal Pension Plan.

The statutory guidelines for sections 1, 2 and 3 say that organisations with 3 to 14 employees are not under obligation to key into the conventional CPS. The PRA 2014 sets the mandatory minimum threshold for private sector employers at 15 employees. In other words, the law does not strictly mandate standard CPS compliance for small businesses with 3 to 14 staff; however, such organisations may still set up pension plans by formally applying to PenCom for an employer code. Organisations with 1 to 2 employee such as small businesses, informal sector employers, and self-employed individuals with less than three workers are classified under the Micro Pension Plan guidelines, now personal pension plan. This is the position of the law on the CPS and business categories that are obliged to key into it.

PenCom’s Efforts

It is pertinent to state that since the establishment of the CPS in 2004 and the review of the PRA in 2014, PenCom’s efforts in ensuring that Nigerian workers retire with dignity is laudable. This effort became much more pronounced since the regime of the present Director General, Ms Bridget Omolola Oloworaran. With her launch of what she tagged “Pension Revolution 2.0”. Since then, a lot of reforms have been brought into the pension system all targeted at redefining the pension system and give hope of better future for an average Nigerian worker. In her effort to address this, she sought for collaboration with workers’ labour unions to support the effort of the commission’s compliance unit.

The commission first had interaction with the Trade Union Congress (TUC) in Lagos and secured the support of its executive members then had interaction

with the NLC. During the interactive session with NLC, the congress set up enforcement squad that will effect from June 1 crack down on employers that have not keyed into the CPS especially those that deduct employees’ contributions without remittances.

Analysts’ Caution

As laudable as the plan is, labour analysts have sounded a note of caution here. According to them, given the present economic reality on ground in Nigeria, the planned action stands as two edged sword that can make and mar present and future interest of Nigerian workers.

Of truth, Pension is one of the major sources of long term investible funds as such PenCom and Pension Fund Administrators need to take actions that will boost pension assets mainly through inclusive pension planning for all Nigerians that engage in genuine means of livelihood. The quantum of pension assets now stands at over N29 trillion.

According to the labour and pension sector analysts, already Nigerian workers especially those that work with micro and small scale businesses with up to 15 employees are at present passing through untold hardship as a result of increase in cost of transportation and inability of their employers to increase their salaries to cushion the effects of the new transport fare.

On their part, their employers have turned down their requests of new salary scale on account of the high transport, high cost of housing in Lagos among others saying they themselves are no longer breaking even with profitability beaten down to the skin on account of high cost of fuel, gas and other expenses.

Critical examination of operations of these set of micro and small business shows that their employers are actually

not breaking even as such they are averse to any request for salary increase.

Small Businesses Expresses Concern

These set of employees often reject any deduction from their salary for savings as pension. For instance shortly after the interactive session between PenCom and NLC and the proposed action by the congress enforcement squad on June 1, THISDAY visited one of the chapters of the National Association of Proprietors of Private Schools (NAPPS) in Lagos during their monthly meeting, the April edition to find out their status as regards establishment of pension plan for private school teachers.

During an interaction with some of the members which comprised of small and medium size schools that employ between 15 to25 teachers, each in his response showed that while the employers were willing to obey the law by establishing the pension plan, the employees are the problem regarding compliance.

Mobility Rate Among Private School Teachers

There is no doubt that there is very high rate of mobility among private school teachers. It was gathered that a private school teacher can change working place three times in a year. In such circumstance, setting up pension plan for them is difficult because though the pension window transfer is now operational, the law establishing it says an employee can change pension fund administrator just once a year. Asked if they had explained the issue of CPS to their employees majority of the proprietors said they have and even brought PFAs for their teachers to choose but the workers vehemently refused to comply.

The story continues online on www.thisdaylive.com

27

T H I S D AY • Wednesday, May 27, 2026

BUSINESSWORLD

News

AGM: Champion Breweries Reaffirms Growth Momentum after Strong Q1 Performance

Champion Breweries Plc has held its landmark 50th Annual General Meeting (AGM), where shareholders commended the Board and Management for delivering strong financial growth, improved profitability, successful capital market execution, and strategic expansion initiatives positioning the Company for long-term value creation.

During the meeting, shareholders reviewed the company’s audited financial statements for the year ended December 31, 2025, alongside updates on its strong first quarter 2026 performance and growth outlook.

Shareholders also approved a dividend payment of 7 Kobo per share for the year under review, reflecting the Company’s improved earnings performance and commitment to rewarding shareholders.

Speaking, Chairman of the Board of Directors, Mr. Imo-Abasi Jacob, described the year under review as a defining phase in the Company’s evolution, noting that Champion Breweries Plc has successfully transitioned from recovery into a stronger growth phase driven by improved profitability, disciplined operations, strategic capital raising, and expansion initiatives.

“The year under review represents a defining phase in the Company’s evolution, one in which Champion Breweries Plc transitioned from a position of recovery to one of measurable growth, strengthened profitability, and strategic repositioning,” he said.

For the 2025 financial year, the company recorded a 43 per cent increase in revenue to N29.80 billion, while Profit After Tax rose by 119 percent to N1.79 billion, reflecting

the success of its margin-led growth strategy.

Shareholders also received

updates on the Company’s strategic expansion initiatives, including the acquisition

of a controlling interest in the Bullet brand portfolio, described by the Board as a

transformational step towards revenue diversification and expansion into higher-growth

Thousands of Nigerians have commended LOTUS Bank for successfully hosting the 2026 edition of its flagship Souq Programme, which concluded on Sunday with many participants benefiting from highly subsidized ram sales and several exciting raffle draw rewards.

The two-day lifestyle and commerce event brought together customers, vendors, business owners, and families in a vibrant atmosphere filled with shopping, entertainment, networking, and community engagement ahead of the festive celebrations.

One of the major highlights

of the programme was the highly anticipated Flash Ram Sales, where several lucky attendees purchased rams at heavily discounted prices, with some sold for as low as N20,000.

One of the beneficiaries, Muhammad Salaudeen, praised LOTUS Bank for the initiative, describing it

as timely and impactful, especially considering the rising cost of livestock and prevailing economic realities.

“This initiative by LOTUS Bank is truly commendable. Buying a ram for N20,000 in today’s economy is something many people would not imagine possible,” he stated.

Nigerians Laud LOTUS Bank over Successful 2026 Souq Programme

Leadway Assurance Pays N137 billion Claims Leadway Assurance Plc has said that it paid N137 billion claims to its clients in the 2025 financial year.

The figure showed 17 per cent rise from N117 billion claims it paid in 2024.

Leadway Managing Director, Gboyega Lesi, said the company in 2025

was committed to standing by policyholders through prompt and consistent claims settlement.

He said consequently, this brought about the 17 percent rise in its claims payment for the year.

Lesi said Leadway had formidable capacity to honour

obligations across its life, annuity, and non-life portfolios, and its continued role as a dependable financial safety net for millions of customers navigating losses in these uncertain times.

Giving break down of the expenses on claims, Lesi said non-life portfolio

accounted for N55.4 billion of total claims expenses, while annuity payouts reached N57.9 billion, and life business claims accounted for N23.7 billion.

He said these figures validate the scale of Leadway’s operations and its sustained leadership across multiple insurance segments.

Why Battle Over Dangote Refinery is About Nigeria’s Economic Future Dan Kunle

T

here are moments in the life of a nation when a business dispute stops being merely a business dispute. It becomes a reflection of the deeper economic model a country has inherited.

There are moments when a lawsuit, a regulatory decision, an import licence, or a confrontation between powerful commercial interests reveals something much deeper about the structure of a country’s economic configuration. Nigeria is now at such a moment.

The current battle surrounding the Dangote Refinery is not simply about petrol imports.

It is not merely a disagreement between a private refinery, fuel marketers, regulators, or the Nigerian National Petroleum Company Limited (NNPCL). It is a struggle over the future direction of Nigeria’s economy.

At stake is whether Africa’s largest oil producer will finally become a serious industrial economy capable of refining its own resources and retaining value within its borders, or whether it will remain trapped in a system that exports crude oil, imports refined products, and continuously transfers wealth abroad. That is why this moment matters. And that is why the debate around the Dangote Refinery must be understood far beyond personalities, politics, or commercial rivalries, even those reminiscent of the industrial rivalries of the Rockefeller and Ford era in the United States. The real issue is whether Nigeria is prepared to defend productive industrial capacity or continue rewarding a system built around dependence and a rentier structure.

History of Broken National Ambition Nigeria has seen too many strategic national projects collapse without delivering meaningful economic transformation. The automobile industry offers a striking example. In the 1970s and early 1980s, Nigeria built one of the most ambitious automotive industrialisation programmes in Africa. Assembly plants such

as Peugeot Automobile Nigeria (PAN), Volkswagen of Nigeria, Anambra Motor Manufacturing Company (ANAMMCO), Leyland Nigeria, Steyr Nigeria, and National Truck Manufacturers produced passenger cars, buses, trucks, and agricultural vehicles using Completely Knocked Down (CKD) kits. The longterm vision extended beyond assembly to full industrial integration, local parts manufacturing, steel production, tyres, batteries, glass, and a broader supply chain ecosystem.

At its peak, the Peugeot 504 became a national symbol of industrial progress. Yet this momentum collapsed from the mid-

1980s due to policy inconsistency, foreign exchange instability, trade liberalisation, and deteriorating infrastructure. Local manufacturers were exposed to import competition they could not withstand, and the industry gradually disappeared, another lost opportunity in Nigeria’s industrial journey. The same pattern repeated elsewhere. Nigeria once possessed one of the most important railway networks in West Africa, alongside Nigeria Airways, Nigerian Telecommunications Limited (NITEL), and the National Fertilizer Company of Nigeria (NAFCON). Over time, neglect, corruption, poor maintenance, and inconsistent policy destroyed much of this infrastructure.

The textile industry, once a major employer, collapsed under the combined pressures of smuggling, weak power supply, and poor policy support. NEPA became synonymous with unreliable electricity. Ajaokuta Steel Complex never fulfilled its promise. Each failure followed the same tragic pattern: enormous potential weakened by poor governance, inconsistent policy, vested interests, and weak execution.

There are strong indications that ongoing reforms under President Bola Ahmed Tinubu seek to address these structural weaknesses.

However, consistency and execution will determine whether history repeats itself or changes course. That history matters today because many Nigerians now fear that the country may once again undermine one of the few large-scale industrial platforms capable of altering its economic trajectory.

Oil Paradox That Weakened Nigeria Few contradictions are as striking as Nigeria’s petroleum sector. For decades, Nigeria exported crude oil while importing refined petroleum products – a structurally flawed arrangement for a major oilproducing nation. Refining creates jobs, strengthens energy security, reduces foreign

exchange pressure, and retains value within national borders. Yet Nigeria failed to build and sustain this capacity. State-owned refineries suffered chronic inefficiency, poor maintenance, and repeated rehabilitation failures.

As local refining collapsed, imports became the norm. Crude oil left Nigeria. Refining happened abroad. Finished products returned at significant cost. Over time, this evolved into a complex economic system involving traders, shipping companies, financiers, depot owners, foreign exchange dealers, insurers, and politically connected intermediaries. The ordinary Nigerian bore the cost – through inflation, currency weakness, public debt, subsidy burdens, and lost industrial opportunities. Nigeria exported crude and imported refined fuel, unemployment, and economic vulnerability.

Why Dangote Refinery Changes the Equation The Dangote Refinery represents the most significant attempt in decades to reverse this structural imbalance. This is not simply about one businessman. It represents refining capacity, petrochemicals, logistics infrastructure, fertilizer production, marine systems, and thousands of jobs within Nigeria. Most importantly, it represents industrial execution at a scale the Nigerian state struggled unsuccessfully to achieve for decades. For the first time, Nigeria possesses domestic refining infrastructure capable of substantially reducing dependence on imports. That changes the political economy of the downstream sector. And that is precisely why tensions have escalated.

Import System and Structure of Dependence Nigeria’s subsidy and import regime created one of the most expensive fiscal structures in the country’s history. Beyond subsidies lies a broader ecosystem – freight, foreign exchange allocations, financing, storage margins, and trading profits.

The story continues online on www.thisdaylive.com

WEDNESDAY, 11, 2026 • T 27 H I S, 2026 D AY T H I S D AY • MARCH wednesday, MAY

28

business/MOnEYGUIDE

MikoAssumes Leadership of PTML Command,Promises Due Process, Integrity inTrade Facilitation Eromosele Abiodun The newly deployed Acting Controller of Nigeria Customs Service (NCS), Ports Terminal Multiservices (PTML) Command, DC Nura Ibrahim Miko has formally resumed with a promise to operate with integrity and following due process while ensuring seamless trade facilitation He took over from outgoing Controller Joseph Anani who disclosed that the command has collected over N178billion revenue as at the time of handing over Specifically assuring officers and men of PTML Command and stakeholders, Acting Controller Miko said, “I want you to know this: I am here to work with you, not merely to lead you. Under my watch Integrity will be

non-negotiable;Trade facilitation will remain our priority.

Due process will be strictly respected.Teamwork will be our greatest strength.

Results will be achieved through collaboration, not fear.Together, we will take this command to greater heights” Miko described the area as a well organised Command while promising to build on the achievements of his immediate predecessor.

He also sought continued cooperation and collaboration of all sister agencies and stakeholders operating within the Command while stating further that effective port operations depend on inter-agency synergy, mutual respect, and a shared commitment to trade facilitation, revenue generation, and national security.

According to him, the Command will remains open to constructive

engagement confirming his commitment to transparency, accessibility, and a level playing field for all.

He added that together the Command’s Stakeholders will sustain PTML’s position as a model command for efficiency and integrity.

While thanking the CGC Bashir Adewale Adeniyi for the confidence and trust reposed in him,the Acting Controller said the nation’s number one customs officer’s policy thrust of Innovation, Consolidation, and Collaboration will be upheld as they jointly write the next chapter of the PTML Area Command.

Comptroller Anani who has been deployed to Tin Can Island Command, described his eight months service period at PTML as an extraordinary privilege to serve as the Area Controller

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- CBN Bills Held by Money Holding Sectors

9,291.49

Money Supply (M2)

119,028,285.58

Quasi Money

79,681,419.97

Accion MfB Recounts Impact, Growth at 20th Anniversary Celebration

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

Sunday Ehigiator

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Accion Microfinance Bank yesterday, celebrated its 20th anniversary in Lagos, recounting its growth from a single branch operation to one of Nigeria’s leading microfinance banks with presence across 14 states and 76 locations nationwide.

Speaking during the event, the Managing Director of the bank, Taiwo Joda, described the milestone as a reflection of two decades of impact, resilience and commitment to financial inclusion.

“It’s 20 years of impact.

It’s really mind stunning to experience a day like this, shaping lives, drawing people out of poverty,” Joda said.

He noted that the bank’s mission has gone beyond providing financial access to helping customers attain prosperity and contribute meaningfully to the economy.

“We know that there is a lot more to shape the future, to draw our customers from financial access, from being able to get their businesses done to the next level which is prosperity so that they can add more to the economy,” he added. Also speaking, the Chairman of the Board, Christian Ruehmer, said the bank

has remained committed to supporting customers and communities despite economic and operational challenges over the years.

He said, “For 20 years, we started to help customers from the first day. We are here to stay and really grow, meet customers and several thousands of customers that we have, which is remarkable. We are glad we are able to contribute to their development from the first day to this stage.”

Chief Commercial Officer of the bank, Stephen Olalere, highlighted the institution’s expansion and the transformational impact it has had on customers over the years.

Abbey Mortgage Bank Concludes Annual General Meeting Kayode Tokede Abbey Mortgage Bank Plc has successfully concluded its 34th Annual General Meeting (AGM), reaffirming the Bank’s commitment to sustainable growth, innovation, and longterm value creation for shareholders and stakeholders.

The AGM, held recently, brought together shareholders, members of the Board, management, regulators, and other key stakeholders to review the Bank’s performance, strategic direction, and outlook for the future.

During the meeting, shareholders approved

key resolutions including additional capital raise, declaration of dividend, presented by the Board and Management, while commending the Bank’s resilience, operational performance, and continued drive toward transformation within Nigeria’s financial services sector.

Speaking at the AGM, Managing Director/CEO of Abbey Mortgage Bank, Mobolaji Adewumi stated:”Our next phase is centered on delivering seamless and digitally driven banking experiences that eliminates the traditional barriers to premier financial services.

Shaping the future

means building a resilient institution that is as agile as it is reliable, while ensuring that every stakeholder benefits meaningfully from our growth and expansion.”

The Bank’s leadership also highlighted Abbey’s strategic progress and strong corporate governance culture that positions the institution to deliver broader financial services and enhanced customer experiences.

The meeting also provided an opportunity to appreciate shareholders for their continued confidence, loyalty, and support, which have remained instrumental to the Bank’s growth journey over the years.

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

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

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27%

OPEC DAILY BASKET PRICE As At 24TH NOVEMBER , 2025

The price of OPEC basket of twelve crudes stood at $63.14 a barrel on Monday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

29

T H I S D AY • wednesday, MAY 27 , 2026

mARKET NEWS

Fidelity Bank Grows Gross Earnings by 38% to N434.95bn in Q1 2026 Kayode Tokede Fidelity Bank Plc recorded N434.95 billion gross earnings in first quarter (Q1) 2026 as the international commercial bank continued to expand its core banking market share.

The unaudited report and accounts of Fidelity Bank (Q1) ended March 31, 2026 released at the Nigerian

Exchange (NGX) showed that gross earnings rose from N315.42 billion in Q1 20025 to N434.95 billion in Q1 2026, representing an increase of 37.9 per cent.

The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in Q1 2025.

P R I C E S MaiN Board

F O R

DEALS

With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion.

After taxes, net profit stood at N74.47 billion for the Q1 2026.

Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.

The balance sheet of the bank also emerged stronger.

Total assets crossed the N11 trillion mark to N11.35 trillion

S E C U R I T I E S

Market Price

quantity traded

value traded ( N )

by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully

T R A D E D MaiN Board

A S

completed its recapitalisation amidst impressive earnings performance in 2025.

Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.

The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and

O F

M AY DEALS

similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.

The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024.

2 6 / 2 6 Market Price

quantity traded

value traded ( N)

30

WEDNESDAY, MAY 27, 2026 • THISDAY

THIRTY

Nigeria Signs $1.5bn Grand Katsina-Ala Hydropower Concession Deal with Maverick Energy Partners Project to deliver 460MW under a 35-year PPP arrangement FG to hold 10% minimum equity participation via MOFI Financial close expected in 2027

Peter Uzoho

The federal government has signed a major Concession Agreement valued at $1.5 billion for the Grand Katsina-Ala Hydropower Project.

Also, the government formally appointed Maverick Energy Partners as preferred concessionaire for the development, financing, construction and operation of a 460 megawatts storage hydropower facility on the Katsina-Ala River in Benue State.

The project, arranged under a 35year Design, Finance, Build, Operate and Transfer (DFBOT) public-private partnership (PPP) framework, has the federal government holding 10 per cent minimum equity participation through the Ministry of Finance Incorporated (MOFI).

The financial close is expected in 2027.

A statement issued in Abuja, dated May 22, 2026, signed by the Chairman of Maverick Energy Partners, Dr Johnson B.O. Adewumi, stated that the agreement represents

one of the largest sovereign-backed renewable energy infrastructure concessions in Nigeria in recent years and marks an important milestone in the evolution of public-private infrastructure delivery across Africa.

The signing, according to the statement, followed a multi-year approvals process involving the Federal Executive Council concession approval, Infrastructure Concession Regulatory Commission certification and Transmission Company of Nigeria grid connection approval, reflecting an unusually advanced level of federal coordination and institutional alignment.

More than an energy project, Grand Katsina-Ala is positioned as a long-term economic development platform designed to strengthen productivity, industrialisation and food security.

Benue State, widely recognised as Nigeria’s agricultural heartland, sits within one of West Africa’s most productive agricultural corridors.

Access to reliable and affordable

electricity has direct implications for agro-processing capacity, irrigation infrastructure, cold-chain logistics, manufacturing activity and broader supply-chain resilience across the region.

For Benue State, the statement noted that the project represents one of the largest infrastructure initiatives in the region in recent years, with implications extending beyond electricity generation into broader investment and economic activity.

It pointed out that reliable and affordable electricity remains one of the most significant structural constraints to economic productivity across much of the continent.

For regions with major agricultural potential, stable energy infrastructure has the capacity to strengthen value chains, reduce post-harvest losses and unlock broader industrial activity.

The project also reflects wider continental priorities around regional integration, industrial development

and infrastructure expansion as African economies increasingly seek to convert resource and agricultural potential into long-term productive capacity.

With an installed capacity of 460 MW and projected annual generation of approximately 2,401GWh, the partners said Grand Katsina-Ala was expected to provide system-critical baseload power to Nigeria’s national grid while supporting growing industrial and commercial demand.

They maintained that hydropower remains among the few renewable technologies capable of delivering stable baseload capacity at scale, positioning projects such as Grand Katsina-Ala at the intersection of energy transition priorities and long-term economic development objectives.

The partners said the project was expected to create direct and indirect employment opportunities across engineering, construction, logistics, operations, agriculture and associated industries, with multiplier effects

anticipated across local communities and regional supply chains.

They added that the project aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and broader federal priorities around infrastructure-led growth, energy security, economic diversification and accelerated industrial development.

According to the statement, the project also supports national objectives aimed at strengthening agricultural productivity, expanding domestic value creation and improving long-term economic competitiveness.

They said Grand Katsina-Ala reflects years of technical development work, stakeholder engagement and sovereign coordination by Maverick Energy Partners, which identified the site as a major long-term opportunity for regional economic development.

According to the statement, Maverick Energy Partners brings exceptional depth of experience and technical capability to the project.

The statement stated that the con-

SALLAH: TINUBU DECLARES SACRIFICES BY NIGERIANS YIELDING RESULTS

Deji Elumoye, Chuks Okocha, Michael Olugbode, Adedayo Akinwale, Sunday Aborisade, Folalumi Alaran, Kasim Sumaina in Abuja, John Shiklam in Kaduna, Segun Awofadeji in Bauchi, James Sowole in Abeokuta, Blessing Ibunge in Port Harcourt, Felix Omoh-Asun in Benin and Ahmad Sorondinki in Kano

President Bola Tinubu, yesterday, roared very loudly, assuring Nigerians that his government will defeat all forces of evil troubling the country.

In his 2026 Eid-el-Kabir message, the last before the 2027 general election, Tinubu charged criminals in the society to turn over a new leaf or be prepared to face the full wrath of the law.

The president, while emphasising that his administration would neither forget nor abandon communities attacked by terrorists and bandits, promised more investment in security, infrastructure, agriculture, and human capital for the betterment of the Nigerian nation.

In the 15-paragraph Sallah message, Tinubu stated, “I extend warm felicitations to our Muslim brothers and sisters across Nigeria and worldwide as they celebrate the glorious Eid-el-Kabir, the Festival of Sacrifice.

“We give glory to Almighty God for preserving our lives to witness this important celebration once again.

“Eid-el-Kabir reminds us of the enduring virtues exemplified by Prophet Ibrahim—faith, obedience, and the willingness to sacrifice for

a higher purpose.

“This sacred festival calls on all Muslims, and indeed all Nigerians and the whole of humanity, to embrace sacrifice, selflessness, unity, and compassion for our fellow human beings.

“One central lesson of Eid-elKabir is the call to show mercy and compassion, regardless of race, ethnicity, or creed. There is no greater example of duty and devotion than Prophet Ibrahim’s willingness to offer his only son, Ismail, as a sacrifice to Allah.

“As a nation, we are on a journey of reconstruction and renewal. The reforms we have undertaken are challenging but necessary to build a stronger and more prosperous Nigeria for future generations.

“Just as sacrifice brings reward,

AMAECHI, HAYATU-DEEN REJECT RESULTS OF ADC PRESIDENTIAL PRIMARIES, DECRY PROCESS

a wide margin.

Although all the results had not fully come in from across the states, those already declared showed Atiku leading with such margins nearly impossible for Amaechi and Hayatu-Deen to close.

Amaechi, a former Minister of Transportation, said on X, “Following reports of widespread voter disenfranchisement in most parts of the country during the African Democratic Congress (ADC) presidential primaries yesterday, I unequivocally reject the concocted results being announced.

“I had initially stated that I will only accept the outcome of the primaries if the process was free, fair, and transparent, and I stand by my word.

“I will not accept results from a process that does not reflect the values that the ADC had pledged to uphold, to rescue Nigerians from the impunity and gross mismanagement that our country is currently facing in the hands of the ruling party.

“There’s no way that about eighty per cent of members of the party were not allowed to vote, and you expect me to accept such results.

Then what makes us different from the others?”

Amaechi added, “The whole idea of the ADC was to give the Nigerian people a platform, to amplify the voices of the downtrodden, and make Nigeria a better

place for everyone irrespective of backgrounds, ethnicity, or religion.

“A party that criticises the ruling APC and INEC for vote buying, rigging, and writing of results cannot be engaged in vote buying, writing of results, and other electoral malpractices that lead to the disenfranchisement of voters who are party members. This is not acceptable!”

Hayatu-Deen also announced that he would not attend the official announcement of the ADC presidential primary results, citing concerns over alleged widespread electoral malpractice.

In a post shared on X, HayatuDeen said he was disturbed by reports of vote rigging from different parts of the country. He added that some of the irregularities were personally observed by him during the exercise.

He stated, “I will not be attending the announcement of the ADC presidential election results today.

“I am concerned by reports from across the country of widespread vote rigging, some of which I myself observed, and will therefore be taking advice on my next steps.”

Sowore is AAC Presidential Candidate

African Action Congress (AAC) elected its National Chairman,

Omoyele Sowore, as consensus presidential candidate for the 2027 general election.

Sowore emerged at the party’s presidential primary held at Maryam Babangida National Centre for Women Development, Abuja, where accredited delegates adopted him through a voice vote following the presentation of the party’s consensus framework.

Addressing party members and supporters after his emergence, Sowore said Nigerians were dissatisfied with worsening economic hardship, insecurity, and poor governance.

He said AAC would provide a credible alternative ahead of the 2027 elections.

Sowore said the party would not be part of any political coalition arrangement, maintaining that AAC remains committed to building an independent political movement driven by ideology and grassroots mobilisation.

According to him, the party’s focus would remain addressing unemployment, fighting corruption, improving public accountability, and tackling insecurity across the country.

Sowore also urged party supporters to remain committed to the struggle for social justice, equity, and democratic reforms, adding that AAC would intensify mobilisation efforts nationwide ahead of the polls.

I am happy that the sacrifices and efforts we have made over the past three years have yielded a more stable economy, making our country a preferred investment destination that will drive job creation and economic growth.”

Tinubu assured, “The walk through the dark tunnel is over, and the light is here. I am confident that, by the Grace of God, the reforms we have diligently pursued will continue to yield improved security and greater opportunities for all.

“I am aware that, despite the best efforts of our security and intelligence agencies—including the recent elimination of a wanted ISIS leader—heartless terrorists and bandits still attack some communities. I assure you: you are neither abandoned nor forgotten. We will ultimately defeat all the forces of evil.”

He said, “To our Muslim faithful, I urge you to use this sacred occasion to pray for our country, for peace in our communities, and for wisdom

for those in leadership.

“Let us pray that those who commit crimes among us may rethink and abandon their evil ways, or face the full weight of the law.

“Let us also reach out to the less privileged, share with our neighbours, and strengthen the bonds of brotherhood that unite us as one people.”

The president pledged, “My administration remains committed to building a Nigeria where all citizens can live in peace, worship freely, and pursue their dreams without fear.

“We will continue to invest in security, infrastructure, agriculture, and human capital to fulfil the great promise of our great nation.

“On behalf of the government, I wish you all a peaceful, joyous, and blessed Eid al-Kabir. May Allah accept our sacrifices and prayers, and may He continue to bless the Federal Republic of Nigeria. Eid Mubarak! Happy Sallah!”

Wife of the president, Senator Oluremi Tinubu, on Nigerians

Minister of Power, Joseph Tegbe sortium’s principals, Dr Johnson B.O. Adewumi, Babatunde Adewumi and Jean Binquet (Partner), collectively bring decades of frontline hydropower development expertise across Africa, including direct involvement in some of Nigeria’s most significant national hydropower programmes such as Zungeru Hydropower Project, Mambilla Hydropower Project and Gurara Hydropower Project. to continue to pray for sustained peace, stability, and prosperity in the country.

In her Sallah message, the first lady extended warmest greetings to all Muslim faithful across Nigeria and in the diaspora.

She stated, “Eid el-Kabir is a special time for reflection on the enduring values of sacrifice, obedience, faith, and compassion.

It reminds us of the importance of selflessness and total devotion to the will of God. “As we celebrate, I encourage all Nigerians to embrace peaceful coexistence and to live in harmony with one another. Our strength as a nation lies in our unity, mutual respect, and shared commitment to building a society where love and understanding prevail.

“Let us also remember the essence of this day by extending a helping hand to our neighbors, especially the vulnerable and less privileged ones Continued on page 34

AMEND TIME-TABLE TO COMPLY WITH ELECTORAL ACT, ANOTHER COURT ORDERS INEC

The particular areas the court wants to conform with the Electoral Act has to do with the timeframe for political parties to submit their membership register and also substitute names of candidates nominated for the 2027 polls.

While INEC had in its revised time-table directed parties to submit their membership register to the commission on or before May 10, and submit names of candidates for the 2027 polls on or before May 30, the court observed that the timeframe was inconsistent with the 120 days and 90 days provided by the law.

Omotosho in the judgement held that while the constitution empowers the electoral umpire to fix a time-table for the conduct of elections, such a time-table must however be in accordance with the Electoral Act. SDP had last month dragged INEC to court over the commission’s revised time-table that While noting that Section 31 of the Electoral Act, 2026 stipulates a timeframe of 90 days for parties to substitute candidates in an election, Omotosho observed that INEC’s revised timetable however stipulated

August 22, 2026 and September 19, 2026 as the date for candidates for Presidential and National Assembly elections and Governorship and House of Assembly.

These dates are far larger than the 90 days allowed by the Electoral Act, 2026. This means that the Timetable has reduced the timeframe for parties to submit withdrawal to the Defendant.

The Defendant therefore acted ultra vires its powers by reducing the time allowed by political parties to convey withdrawals and sworn affidavit to the Defendant contrary to the 90 days stipulated by the Electoral Act, 2026.

The court specifically faulted the action of the commission in respect of Sections 29 and 31 of the Electoral Act, 2026. the time for political parties to submit their membership register, including names of their candidates for the 2027 general elections slated for january next year.

The plaintiff in the marked: FHC/ABJ/CS/720/2026 and filed on April 9, asked to court to determine among others, “whether having regard to Sections 82 and 84(1) of the Electoral Act, 2026,

the defendant’s powers to receive notices, attend, observe and monitor party primaries extend to fixing or prescribing the timetable within which political parties must conduct their primaries.”

However, delivering judgement in the matter on Tuesday, Omotosho held that INEC has the powers to issue timetable for elections and alter it as it deems fit.

Besides, the court held that the 2027 election time-table issued by INEC was valid and legally issued, as the law empowers it to state “timeframe within which political parties are to hold their primaries”, including “stating timeframe for the submission of membership registers of political parties.”

The court however, declared that INEC cannot in the process of fixing a time-table for election abridge the timeframe for parties to submit the names of their candidates for the 2027 general elections.

“Now the Presidential and National Assembly elections are fixed for January 16, 2027 while the Governorship and State Houses of Assembly elections are fixed for Continued on page 32

31

THISDAY • WEDNESDAY, MAY 27, 2026

NEWS

INAUGURATION OF UBA INNOVATION HUB AND BUSINESS OFFICE...

L-R: Acting Executive Director, Personal and Business Banking, United Bank for Africa (UBA), Chidi Okpala; Registrar and Secretary to Council, University of Lagos (UNILAG), Abosede V. Wickliffe; Group Managing Director/CEO, UBA, Oliver Alawuba; Vice Chancellor, University of Lagos, Professor Folasade Ogunsola; and Group Deputy Managing Director, UBA, Chukwuma Nweke, during the presentation of a N60 million endowment fund towards research and development in finance at the commissioning of the UBA Innovation Hub and Business Office built by UBA Group at the university campus in Akoka, Lagos, on Monday

2027 Presidential Poll: Court Clears Coast for Jonathan’s Participation, Dismisses Eligibility Suit Orders plaintiff to pay Jonathan N20m, AGF N1m as cost PDP welcomes judgement, says victory totally clears pathway for Jonathan’s presidential rescue mission

Alex Enumah and Chuks Okocha in Abuja

The obstacle seemingly impeding former President Goodluck Jonathan’s declaration for the 2027 presidential election was on Tuesday cleared, following dismissal of the suit challenging his eligibility.

Justice Peter Lifu, dismissed the suit filed by an Abuja-based lawyer, Mr. Johnmary Jideobi for being frivolous, vexatious, incompetent and lacking merit.

In a related development, an elated Peoples Democratic Party, PDP, led by Tanimu Turaki has welcomed the judgment of the

Federal High Court, Abuja Division, which affirmed Jonathan’s eligibility to contest for the presidency despite having previously sworn to the oath of office of the president twice.

In a statement by the National Publicity Secretary of the Turaki-led party, Ini Ememobong, said, ‘’This judgment is clearly in alignment with the law and common sense, as laws cannot have a retroactive or retrospective effect.’’

Reports had it that Jonathan would declare for the 2027 presidential race, few days to the commencement of hearing of the suit against his eligibility before the Abuja Division of the Federal

High Court.

The former president had on May 7, told Nigerians that he was still consulting when some Nigerians visited him in his Abuja residence, appealing to him to join the race.

Besides, the Peoples Democratic Party (PDP) few days ago had announced Jonathan as their presidential candidate for the 2027 general elections.

However, with the dismissal of the suit on Tuesday, it is believed that the former president may come out to declare his interest in the presidential election.

Jideobi, had dragged the former

president to court over his alleged plans to contest in the 2027 poll.

He argued that by constitutional provisions Jonathan cannot contest for the post of president haven done so twice.

Among reliefs he sought in the suit marked: FHC/ABJ/ CS/2102/2025, included; an order of perpetual injunction, restraining Jonathan from presenting himself to any political party in the country for the purpose of contesting in the 2027 poll.

The plaintiff in addition is asking the court to restrain the Independent National Electoral Commission (INEC) from accepting

Passengers Disrupt Egypt Air Lagos-Cairo Flight over Delay in Delivery of Luggage Chinedu Eze

Egypt Air Lagos-Cairo flight was disrupted yesterday at the Murtala Muhammed International Airport, Lagos, by passengers who were earlier brought into the country without their checked in luggage.

Majority of the passengers who arrived Lagos on May 19, 2026 were part of about 219 travelers who did not get their checked in luggage one week after their arrival; so, they blocked the airline from checking in passengers scheduled to leave to Cairo, Egypt yesterday, insisting their luggage must be delivered before they would allow the airline to check in new passengers.

They stiffly stood against the check-in process and when the ground staff of the airline wanted to address them, they refused to listen to them, insisting that the General Manager of the airline must come and address them.

All the entreaties by other airport officials failed because the passengers complained that since they arrived without their checked-in luggage, the

airline did not send them messages through their emails to give them update on the possibility of getting their luggage from May 19 most of them arrived the country till date.

“The passengers are angry that there was no communication with them and this is the major thing annoying them. Most of the passengers came in on May 19. Any effort to address them by the station manager and the cargo manager was rebuffed by the passengers who insisted that the General Manager, Egypt Air must address them. Some of them alleged that there is discrimination,” one of the passengers billed to travel with the airline, told THISDAY. The Director, Public Affairs and Consumer Protection, Nigeria Civil Aviation Authority (NCAA), Michael Achimugu, told THISDAY in a telephone interview that when he got the report, he called the General Manager of the airline in Nigeria, Amr Basha, and urged him to meet the passengers along with NCAA officials at the airport.

Achimugu explained to THISDAY that the airline operates small body

aircraft (Boeing 737-800), which has the right capacity for the passengers it airlifts from Lagos but because of the predilection of Nigerian passengers to carry heavy luggage, the luggage compartment of the aircraft is inadequate for the luggage of the passengers.

So, what the airline does is that after some time when the luggage has increased to justify deploying a bigger aircraft, it would deploy an Airbus A330 to the route to bring both the luggage and the passengers.

“What I think is that the airline may have waited for the luggage to increase in number to justify the deployment of a bigger aircraft to the route. And when you really consider the delay in bringing the luggage, the airline has not contravened any regulation because it has about 21 days to deliver passengers’ luggage which it has not passed. However, the Manager assured that the airline will bring all the luggage today and tomorrow,” Achimugu told THISDAY. And just as Achimugu said, the General Manager who left

the Victoria Island head office of the airline in Lagos arrived the airport shortly before the 2:00 pm scheduled departure time of the flight and spoke to the passengers.

from any political party, Jonathan’s name or publishing same as a duly nominated candidate for the election.

Meanwhile, the plaintiff citing alleged bias wrote the Chief Judge of the Federal High Court, asking Justice Lifu to withdraw from further trial of the case.

But the court dismissed the motion for recusal on the grounds that it was a ploy by the plaintiff to delay and frustrate the hearing of the suit he filed since last year, without serving same on the defendants.

The court also berated counsel to the plaintiff, Ndubuisi Ukpai for writing the letter of recusal as well as deposing to the affidavit in support of the motion, adding that such amounts to professional misconduct.

“The bar have a lot to do in sanitizing its ranks”, Lifu stated and subsequently dismissed the application for recusal.

Lifu also upheld the preliminary objection of Jonathan, observing that the case of the plaintiff has already been decided by both the

Court of Appeal and the Yenagoa Division of the Federal High Court.

The court also held that the plaintiff lacked the necessary jurisdiction to bring the suit, as he failed to show any cause of action invested in him by the suit.

According to the judge, the plaintiff did not show any rights violated, hardship or injury personal to him by Jonathan’s right to contest election.

“I see no locus standi of the plaintiff in instituting the suit”, the judge held, adding that the same reliefs sought in both the Federal High Court, Yenagoa, Bayelsa State and the Court of Appeal are the same being sought in the instant case.

“What runs in all three cases is the eligibility of Jonathan to run for office of the President of Nigeria for the third term.

“The Court of Appeal dismissed the suit, the Federal High Court, Yenagoa also dismissed the suit.

“I am bound by the above decision of the Court of Appeal and this court. I have no more to add”, the judge held.

Marwa Visits Injured NDLEA Officers, Vows Justice After Dawaki Mob Attack

Michael Olugbode in Abuja

The Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency, Brig. Gen. Mohamed Buba Marwa (Rtd), has visited two officers of the agency receiving treatment at the National Hospital, Abuja, following injuries sustained during a violent mob attack in the Dawaki area of the Federal Capital Territory.

The injured officers, Ayegh Zachariah and Shehu Ibrahim, were attacked while participating in a raid on a notorious drug joint in Dawaki on May 15, 2026.

During the visit on Monday,

Marwa sympathized with the officers and assured them of the agency’s full support, including comprehensive medical care until they fully recover.

He vowed that those behind the attack would be tracked down and prosecuted, stressing that assaults on law enforcement personnel would not be tolerated.

“The Agency will leave no stone unturned in ensuring that those responsible for this cowardly attack are arrested and brought to justice. An attack on our officers is an attack on the state, and it will not go unpunished,” Marwa said.

The NDLEA boss praised the

injured officers for their bravery, professionalism, and dedication during the high-risk operation, noting that their sacrifices remain critical to the nation’s fight against drug trafficking and substance abuse.

As part of efforts to encourage and honour the officers, Marwa presented them with official Letters of Commendation and other support packages aimed at aiding their recovery.

He also commended the NDLEA medical personnel and doctors at the National Hospital for their swift response and quality care that helped stabilize the officers.

32

WEDNESDAY, MAY 27, 2026 • THISDAY

NEWS

N3 BILLION INNOVATION HUBS FOR VARSITIES...

L-R: Deputy Vice-Chancellor, Academics, University of Nigeria, Nsukka (UNN), Prof. Kamoru Usman; Vice President, People Operations, Moniepoint, Chinaza Nduka-Dike; Vice-Chancellor, Obafemi Awolowo University (OAU), Prof. Adebayo Simeon Bamire; Co-founder and Group CEO, Moniepoint, Tosin Eniolorunda and Deputy Vice-Chancellor, Advancement, Innovation & Research, Ahmadu Bello University (ABU), Prof Aliyu Sanusi, during the launch of N3 billion Moniepoint Innovation Hubs for UNN, OAU and ABU at OAU Campus, Ile-Ife, Osun State on Monday

AMEND TIME-TABLE TO COMPLY WITH ELECTORAL ACT, ANOTHER COURT ORDERS INEC February 6, 2027.

“Calculating the period of deadline for submission of nominated candidates and the elections, it is clear that the deadlines set are greater than the 120 days allowed by the Electoral Act, 2026. For the period between the last date of submission of nomination forms for candidates for Presidential and National Assembly elections by political parties and the election itself is 140 days as stated in the timetable.

While for the Governorship and House of Assembly elections It is 133 days.

“This implies that the timetable has reduced the time allowed by political parties by periods of 20 days and 13 days respectively. This is definitely not in line with the provisions of Section 29 (1) of the Electoral Act 2026. The Defendant cannot enlarge or reduce time frames contained in the Electoral Act. It can only issue the timetable to fall within the statutorily provided timelines”.

The court further held that the commission cannot also abridge the timeframe for parties to substitute candidates in the forthcoming general elections.

While observing that INEC in the revised timetable had fixed August 22, 2026 and September 19, 2026 as the date for candidates for Presidential and National Assembly elections and Governorship and House of Assembly, Omotosho held that, “These dates are far larger than the 90 days allowed by the Electoral Act, 2026.

He said, “This means that the timetable has reduced the timeframe for parties to submit withdrawal

to the defendant.

“The defendant therefore acted ultra vires its powers by reducing the time allowed by political parties to convey withdrawals and sworn affidavit to the deferidant contrary to the 90 days stipulated by the Electoral Act, 2026”.

He subsequently declared that INEC “cannot lawfully abridge or vary the 90 days period for substitution of candidates under Section 31 of the Electoral Act, 2026.

“This honourable court hereby declared that the defendant cannot abridge the time stipulated in Section 29(1) of the Electoral Act, 2026 given to political parties to submit the names of their candidates at least 120 days to the date of election.

“This honourable court hereby declared that the defendant is hereby ordered to amend the Election Timetable 2027 and Schedule of Activities in compliance with Sections 29 (1) & 31 of the Electoral Act, 2026”, Omotosho held.

While declaring that INEC’s requesting for membership register of political parties and giving timeframe within which to conduct primaries is not ultra vires its powers of the defendant, Omotosho, “declared that the deadline of August 29, 2026 and September 16, 2026, fixed for political parties to submit nomination forms for candidates for Presidential and National Assembly Elections, as well as Governorship and House of Assembly Elections, is void to the extent of its Inconsistencies with the clear provisions of Section 29(1) of the Electoral Act 2026.”

It will be recalled that the same Federal High Court, Abuja, had last

week nullified the same sections of the revised time-table for being inconsistent with the provisions of the Electoral Act. Although, INEC has approached the appellate court to challenge the decision of the trial court on the suit filed by the Youth Party.

Justice Mohammed Umar had nullified some sections of the INEC’s Revised Timetable and Schedule of Activities for 2027 General Election on the grounds that the time-frame “imposed” by INEC on political parties to conduct their primaries, submit, withdraw and replace names and particulars of

their candidates for the 2027 general elections, “is inconsistent with the provisions of the Electoral Act, 2026”.

According to Justice Umar going by the provisions of Section 29(1) of the Electoral Act, 2026 which requires political parties to submit the personal particulars of their candidates not later than 120 days to an election, “INEC cannot lawfully abridge or limit that statutory period by prescribing a shorter timeframe in its 2027 election timetable”.

He accordingly made an order, “setting aside or nullifying the time-frames imposed by the defendant in its Revised Timetable

and Schedule of Activities for 2027 General Election for the conduct of primary elections by political parties for the 2027 general elections, the submission of personal particulars of candidates by their political parties for the 2027 general elections, the withdrawal and replacement of candidates by political parties for the 2027 general elections, the publication of the final list of candidates for the 2027 general elections and campaigning for the 2027 general elections which is inconsistent with the provisions of the Electoral Act, 2026”.

However, Omotosho in his own

judgement on Friday ordered INEC to amend the affected sections to comply with the 120 and 90 days as provided by the Electoral Act, 2026.

After Losing Outing in APC Primary, Pantami Switches Parties, Now PDP Governorship Candidate in Gombe

Meanwhile, a former Minister of Communication and Digital Economy, Professor Isa Ali Ibrahim Pantami, has left the All ProgresContinued on page 36

Wabara: Seaport Will Turn Abia to Regional, International Trade Gateway Hails Gov Otti over seaport project, Ariaria Market remodeling

Boniface Okoro in Umuahia

A former Senate President, Senator Adolphus Wabara, has hailed Governor Alex Otti for his decision to build a seaport in Abia State, saying the project would turn the state to a major gateway for regional and international trade Wabara who made the observation in a statement he personally signed, also applauded the governor for embarking on remodeling of Ariaria International Market, Aba, which, the former Senate head noted, was now looking like London markets.

Recall that Governor Alex

Otti, on assumption of office, made public his intention to turn Azumini Blue River in Ukwa East Local Government Area of the state to a seaport. Preliminary works, including feasibility studies, were ongoing.

Wabara who hails from Ukwa East described the proposed seaport project as a bold economic initiative capable of further opening up the state to new vistas of economic opportunities.

“If successfully realized, the project will undoubtedly open a new economic corridor for Abia State, decongest existing ports, attract massive investments, stimulate industrialization and position Abia as a major gateway for regional and international trade,” Wabara said.

He added that the proposed sea-

port would fast-track infrastructure development, improve logistics, create jobs and strengthen the economy of the South East region, urging the governor to remain focused on developmental policies capable of improving the business environment and uplifting the living conditions of the people.

Similarly, Wabara said he was deeply impressed by the ongoing transformation of Ariaria International Market, Aba, describing the remodeled commercial hub as comparable to markets in London and other developed parts of the world.

He gave Otti a pat on the back after visiting Ariaria Market where he reportedly went shopping at the weekend and took time off to inspect the new-look of the famous trading

centre regarded as the commercial heartbeat of the South East.

Excited by the level of transformation achieved at the market, the elder statesman noted that Governor Otti’s intervention reflects deliberate efforts to revive Aba’s economic glory.

“Having personally visited the remodeled Ariaria International Market in Aba, I must sincerely commend Governor Alex Otti for the remarkable transformation taking place in one of the most strategic commercial hubs in Nigeria and the West African sub-region,” Wabara stated.

He added that what he saw at Ariaria was beyond ordinary renovation, noting that the market now wears the appearance of modern business districts like those in advanced economies.

Xenophobia: Economic Situation in Nigeria Force Citizens to Migrate to South Africa, Says Obi Nigerian Navy Celebrates 70th Anniversary Chuks Okocha in Abuja

Presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi, has lamented the worsening condition of Nigerians abroad, revealing that many citizens facing xenophobic attacks in South Africa would rather remain there than return home.

Obi, who just returned to the country, raised the concerns at a dinner organised for NDC aspirants in Abuja This was disclosed in a statement issued on Tuesday by the NDC media team.

He said despite efforts to facilitate the return of distressed Nigerians from South Africa, many

rejected the offer, insisting that conditions in Nigeria were worse.

“I just came back last night from South Africa. You know what Nigerians are going through in South Africa and so many other African countries,” Obi asked.

“I finally addressed Nigerians.

I told them that if we had things working in our country the way they should be, most of you wouldn’t be here.

“If you don’t know, we provided facilities for them to come back. But most of them told me they would rather die there than come back. They said things are even worse at home.”

Obi said he met with political leaders and former South African President Thabo Mbeki to seek

improved relations between South Africans and other African nationals.

“I took time to sit down with three ministers who are leaders of their own parties to plead with them about how things can work between South Africans and other African nationals, and we had a very fruitful discussion,” he added.

The former governor also faulted the federal government over what he described as its failure to support Nigerians facing hardship abroad.

“It is not only in South Africa that Nigerians have problems, but they have problems in other countries. I have had the opportunity to speak to leaders in those countries.

with Inauguration of Three Projects in Bayelsa FOB Escravos distributes bags, books to pupils in Delta riverine community

Olusegun Samuel in Yenagoa and Sylvester Idowu inWarri To commemorate the 70th anniversary of the Nigerian Navy, the Nigerian Navy Ship SOROH (NNS SOROH) of the Central Naval Command (CNC) has officially launched three significant projects in Bayelsa.

The Chief of Naval Staff (CNS), Vice Adm. Idi Abbas, highlighted the importance of these projects in honoring the Navy’s historic milestone.

The projects unveiled include the newly constructed Ratings Mess, the

Remodeled Administrative Block Extension, and the newly constructed Administrative Block.

In a related development, the Nigerian Navy Forward Operating Base (FOB) in Escravos, Delta State, yesterday took educational outreach and career talks to Aruton in Ugborodo community as part of its activities marking the Nigerian Navy’s 70th anniversary.

The pupils of Ikpere Primary School, Aruton in Warri South West Local Government Area of the state gathered at the community hall to benefit from

the Navy gesture, which also aimed at deepening military-civilian relationship.

Meanwhile, Rear Adm. Suleiman Ibrahim, representing the CNS at the commemoration event, emphasized the crucial role of these projects in translating the Command’s vision into tangible outcomes.

Acknowledging the Navy’s evolution into a regional maritime power over the past seven decades, Vice Adm. Abbas stressed the significance of investing in the welfare and capacity of naval personnel for enhanced operational effectiveness.

33

THISDAY • WEDNESDAY, MAY 27, 2026

NEWS

PURPOSE TO CAREER (P2C) PROGRAMME...

L-R: Mrs. Aworanti Damilola, Teacher and SERVICOM Representative; Mrs. Ogomegbunam Anagwu, Managing Director, Vando Global Limited; Mrs. Josephine Ugwu, Director Principal, Government Secondary School (GSS), Wuse Zone 3; Mrs. Blessing Akachukwu, Deputy Director, Guidance and Counselling, FCT-SEB; and Mrs. Oby Theresa Onuora-Oguno, staff, FCTSEB Co-Curricular, during a youth leadership and career development initiative to commemorate National Children’s Day, organised by Vando Global Limited in partnership with the Federal Capital Territory Secondary Education Board (FCT-SEB) and Maxwell Leadership Team, USA

Yilwatda: APC NWC Withholding Results of Primary Polls Pending Review of Appeals Explains why it postponed primaries in some states, says party membership now 12.9m

Emmanuel Addeh and Adedayo Akinwale in Abuja

National Chairman of All Progressives Congress (APC), Professor Nentawe Yilwatda, said the par-ty’s leadership deliberately withheld final declarations of winners in the just concluded primary elections pending the review of petitions by the vari-ous appeal committees.

Yilwatda revealed that the ruling party had to jettison its plans to elect the standard bearer of the party for

various elective positions through consensus arrangements because most of the aspirants kicked against it.

Yilwatda made the position known on Monday night during an interview on ARISE News.

He stated, “In the APC, we go by the books. What does the law say? What does the constitution say?

The Electoral Act says, and even the constitution of the party also.

“The Electoral Act says that where consensus fails, even if one person out of the aspirants disagrees, you

must go to the field, so we abided by the vote strictly.

“We abided by the law strictly.

We didn’t go outside the law. We didn’t want to violate the Electoral Act, or the constitution.”

On why the party withheld final declarations of winners pending the review of petitions by appeal committees, he added, “You declare the election at the constituency level, but not declare the winner.

“A winner comes after we receive the report of the appeal committee.

If there’s a need for a rerun or substitution based on the report, then we make a final declaration at the national level.”

The chairman revealed that many primaries in the states were postponed due to several reasons.

He stated, “Even as I’m talking to you today, we’re shifting one House of Assembly to Wednesday. There are places where there is insecurity, sometimes, unresolved issues. Maybe there were consensus being agreed to, that finally broke down.

56 Percent Crash Reduction: FRSC Gap Analysis Drives Historic Decline in Dangote Truck Crashes Kasim Sumaina in Abuja

The Dangote Group, Tuesday in Abuja, commended the management of the Federal Road Safety Corps (FRSC) for the remarkable impact of its Safety System Gap Analysis conducted on Dangote Cement Transport operations in September 2025, following a significant reduction in crashes involving Dangote trucks nationwide.

This commendation came during an appreciation visit to the FRSC National Headquarters by the Head of Transport, Dangote Group, Mr. Murillo Silva, and his team, where they lauded the Corps Marshal, FRSC, Shehu Mohammed, for the professionalism and strategic recommendations that have transformed

the company’s transport safety operations.

Speaking during the visit, Mr. Murillo Silva stated that FRSC and Dangote Group share a common vision on what must be done to make the transport sector safer, stressing that the partnership is already producing measurable results.

According to him, the intervention by FRSC has repositioned the Dangote fleet towards becoming a model for fleet management and road safety compliance across the continent.

Findings from the FRSC Gap Analysis had earlier revealed critical operational lapses, including speed limiter violations, poor driver rest management, overloading, weak

safety monitoring systems and high crash exposure linked largely to human factors.

However, following the implementation of the Corps’ recommendations, comparative crash data between the first quarter of 2025 and first quarter of 2026 showed a remarkable improvement in safety performance.

Statistics presented during the review indicated a 56 percent reduction in crashes, dropping from 25 cases in Q1 2025 to 11 cases in Q1 2026. Fatal crashes also declined by 36 percent, while the number of persons injured reduced by 52 percent from 89 to 42. Most significantly, deaths resulting from crashes dropped by 60 percent from 35 recorded deaths in 2025 to 14 in 2026.

Reacting to the development, the Corps Marshal described the outcome as a clear demonstration that strategic partnerships, data-driven interventions and institutional collaboration remain critical to improving road safety and saving lives.

He commended the Dangote management for embracing professional scrutiny and implementing key safety reforms, noting that sustained compliance with the recommendations could position the company as one of the safest fleet operators in Africa.

“And you have to write INEC because if I go for consensus, you write to INEC, if you’re changing, you must write to INEC again, and you must give a new date. So, we have to be shifting where there are issues.”

Yilwatda acknowledged that governors sometimes openly backed preferred candidates during the primaries but stated that endorsements were not illegal.

The APC chairman maintained that the ruling party remained stable despite protests and disputes arising from its primary elections in several states.

He said, “We have a stable party, very stable, very calm. We have one of the best governing structures in Nigeria right now as a political party.”

Addressing accusations of candidate imposition and lack of internal democracy, Yilwatda stated that APC had largely conducted direct primaries across the country.

“The entire 36 states, we had 29 governors that were either returning or new people contesting for governorship in the states. We had only three consensus candidates for governorship. All the rest went for direct primaries,” he said.

According to him, “In some states, governors have anointed some people and yet they lost. So it means the people that were anointed still lost. A

governor is like any other individual.

Anybody can endorse you.”

He claimed that the ruling party now had 12.9 million verified registered members, compared to Peoples Democratic Party (PDP) 2.4 million, African Democratic Congress (ADC) 1.6 million, Labour Party 1.3 million, and Nigeria Democratic Congress (NDC) 700,000.

Yilwatda stated, “We have about 12.9 million registered voters that were submitted to INEC. Let me give you data. APC submitted 12.9 million registered voters. PDP submitted 2.4 million registered voters.

“The ADC submitted 1.6 million registered voters. Labour Party submitted 1.3 million registered voters. NDC submitted 700,000 registered members.

“So these are the data. If you put all these political parties together, they don’t add up to APC’s registered members. All the political parties, this number I’ve counted, they’re not up to the number that APC registered.”

Yilwatda further claimed that APC was the only political party in Nigeria whose membership regis-ter was fully verified through the National Identity Management Commission.

He alleged, “But even the most important thing in our own case is that we have verified data. All our data of our members are verified

by NIMC. We synchronise the data with NIMC.

FCT Partners VANDO to Guide Secondary School Leavers on Career Path

to the Maxwell Leadership Team career path.

Ohwovoriole in Represented by the Director, for their partnership.”

Abuja Petroleum Minister Inaugurates CNG Centre in Edo as Oghenevwede The Managing Director, VANDO Guidance and Counselling DiviThe Federal Capital Territory sion, State Education Board (SEB), Global Limited Ogomegbunam Okpebholo Assures Investors of Enabling Environment (FCT), Education Board has begun Blessing Akachukwu, she said, “In Anagwu, who organised the Felix Omoh-Asun in Benin

The Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has said the inauguration of the Diverse Autocare Centre Hub and Compressed Natural Gas (CNG) in Benin, the Edo State Capital, aligns with the initiative of President Bola Tinubu.

Ekpo who declared this in Benin yesterday said it was heartwarming that the automobile conversion centre has come on board, noting it is a practical demonstration of private sector

confidence in the future of natural gas as a cleaner, more affordable and more sustainable means of transportation.

According to the minister: “Today is a day that we should continue to celebrate Mr. President because he is the initiator of what we are experiencing today, moving from expensive means of transportation to effective one.

“This facility is more than automobile conversion centre, it is a practical demonstration of private sector confidence in the future of natural gas as a cleaner, more affordable and more

sustainable means of transportation”, he said.

The Minister of State noted that the inauguration of the conversion centre supports the federal government decade of gas initiative, described the initiative as a strategic national programme aimed at transforming Nigeria into a gas power economy.

He commended Greg Ogbeifun, the Chairman of Diverse Autocare Centre Limited, for his initiative which he said was in tune with that of President Bola Tinubu’s agenda.

a partnership with Values And Opportunities (VANDO) Global Limited Purpose to Career (P2C) Programme to equip young secondary school leavers with the right career tools.

The Director/Secretary of the FCT Secondary Education Board (FCT-SEB), Fatima Baba, who spoke at the P2P programme organised

by VANDO Global Limited in Abuja, said that in an era where unemployment has become a huge challenge, P2C will equip young Nigerians with knowledge on

an era where youth unemployment remains a critical national challenge, Purpose to Career will equip young Nigerians with the self-knowledge and career tools that formal schooling alone does not provide, making it a natural and strategic extension of the Board’s existing educational mission. “ “We are grateful to VANDO Global Limited for bringing this programme to us with rigour, care, and a genuine commitment to our students’ well-being. We are grateful

Purpose to Career (P2C) Programme explained: “Nigeria is one of the most exciting youth-powered nations in the world. With a median age of 18 years and over 60% of population under 25, we hold an extraordinary demographic advantage. The question before us is not whether our young people have potential.

“You cannot change a young person, or you cannot change what a young person becomes until you change what a young person knows about themselves.

34

WEDNESDAY, MAY 27, 2026 • THISDAY

NEWS

NDIC EXECUTIVES VISIT BUDGET OFFICE...

L-R: Executive Director, Corporate Services, Nigeria Deposit Insurance Corporation (NDIC), Emily Osuji; Managing Director/Chief Executive, NDIC, Thompson Oludare Sunday; Director General, Budget Office of the Federation (BOF), Tanimu Yakubu; and NDIC Executive Director, Operations, Kabir Katata, during a courtesy visit by the NDIC Executive Management Team to the Budget Office of the Federation in Abuja, yesterday PHOTO: ENOCK REUBEN

Military Goes After Marabouts Providing Spiritual Protection to Terrorists, Bandits Linus Aleke in Abuja The Nigerian military has intensified operations against marabouts and spiritualists alleged to be providing spiritual protection for terrorists and bandits operating from forests across the country.

It also disclosed plans to dismantle what it described as a parallel currency infrastructure in parts of the South-east, revealing that gunrunners supplying weapons to the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN), were transacting with currencies other than the Naira.

Speaking during a press conference in Abuja on Tuesday,

the Director of Defence Media Operations, Major General Michael Onoja, disclosed that one of the marabouts was arrested in a forest in Kogi State alongside suspected gunrunners.

Onoja further revealed that troops across various theatres of operation killed no fewer than 317 terrorists and other criminal elements, arrested 314 suspects, rescued 221 civilians, while 18 terrorists surrendered to troops.

According to him, troops also recovered 93 arms, destroyed three illegal refining sites, and recovered 21,910 litres of assorted petroleum products.

He explained that the military had intensified operations aimed at

dismantling the support networks sustaining terrorist and criminal activities across the country.

“On 21 May 2026, troops executed a high-stakes raid around the Felele area in Lokoja LGA of Kogi State.

The operation resulted in the successful arrest of two suspected terrorist logistics suppliers and marabouts who were actively providing spiritual fortification and material supplies to criminal elements operating within the Agbaja Forest.

“Troops recovered four vigilante ID cards, two NIN slips, two ATM cards, two machetes, two mobile phones, assorted herbal and painrelief medications, and the sum of N20 thousand. The suspects are currently undergoing rigorous

interrogation to completely dismantle their cell.”

The defence spokesman also stated that troops of Operation Udo Ka had maintained an aggressive operational posture across Abia, Anambra, and Ebonyi States, weakening the operational capacity of the proscribed IPOB/ESN organisation while tackling violent crimes and illegal economic activities.

“Significantly, on 30 April 2026, operations in Arochukwu LGA of Abia State resulted in the arrest of a suspected IPOB/ESN gunrunner found in possession of illegal Biafran currency notes, which is direct evidence of the organisation’s continued, albeit rapidly diminishing, efforts to sustain a parallel financial

infrastructure within the region.

“On 10 May 2026, clearance operations in Orumba North LGA of Anambra State yielded the recovery of a locally made Dane gun during the search of a suspect’s residence, with troops continuing to dominate the general area and deny separatist elements freedom of movement,” Onoja said.

Meanwhile, the Chief of Defence Staff (CDS), General Olufemi Olatunbosun Oluyede, has directed a comprehensive security reinforcement across the Oriire general area through the deployment of advanced aerial surveillance assets and specialised ground forces working in collaboration with state authorities.

The military noted that proactive

SALLAH: TINUBU DECLARES SACRIFICES BY NIGERIANS YIELDING RESULTS

among us. These acts of kindness and generosity can renew hope and bring comfort to many.

“Let us continue to pray for our dear nation, for sustained peace, stability, and prosperity.

Eid Mubarak!”

Akpabio, Barau, Kalu, Adeola Rally Support for Tinubu’s Reforms, Seek Unity

President of the Senate, Godswill Akpabio; his deputy, Barau Jibrin; former Abia State governor, Orji Uzor Kalu; and Chairman of Senate Committee on Appropriations, Solomon Adeola, urged Nigerians to embrace sacrifice, unity, and patience as the country navigates ongoing economic and political reforms under Tinubu.

In separate Eid-el-Kabir messages marking the Islamic festival, the lawmakers said the period called for renewed faith, tolerance, prayers for national peace and support for the administration’s reform agenda.

Akpabio, in a statement issued by his Special Adviser on Media and Publicity, Eseme Eyiboh, described Nigeria as passing through a “season of testing,” likening the country’s situation to the trials faced by Prophet Ibrahim.

He said the Eid-el-Kabir celebration symbolised faith, obedience, sacrifice, and selflessness — virtues he stated were urgently needed to rebuild the country.

Akpabio stated, “This sacred occasion reminds us of Prophet Ibrahim’s unwavering faith, obedience and willingness to sacrifice for the sake

of Almighty Allah.

“These timeless virtues of devotion, selflessness and submission to divine will are values our nation desperately needs today.”

The senate president urged Nigerians to support one another, irrespective of religious or ethnic differences, and to extend kindness to the less privileged.

In a similar message, Barau urged Muslims and Nigerians, generally, to use the Eid celebration to strengthen unity, promote charity, and pray for the country’s continued stability and progress.

The deputy senate president, in a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, congratulated Nigerian pilgrims performing the Hajj in Saudi Arabia and urged them to remember Nigeria and its leaders in their prayers.

Barau said the period underscored the virtues of sacrifice, obedience, tolerance, justice, and compassion as exemplified by Prophet Ibrahim.

“In the spirit of this season, let us extend a hand of support to the poor and needy around us, and regardless of our differences, recommit ourselves to building a united, peaceful and economically strong nation,” he stated.

He also appealed to Nigerians to continue to support Tinubu, expressing confidence that the administration’s policies would ultimately stabilise the economy and improve citizens’ welfare.

Kalu, on his part, urged Nigerians not to lose hope, despite the current

economic difficulties, insisting that the reforms being implemented by the federal government are necessary to secure long-term prosperity.

The former senate chief whip said patience, unity, and collective sacrifice were critical to repositioning the economy.

Kalu stated, “The reforms may be painful today, but they are for good reasons and in the overall interest of Nigerians.

“I appeal to citizens to remain patient and supportive of the government as efforts are being made to rebuild the economy and secure a better future for all.”

Kalu advocated a shift from a consumption-driven economy to a production-oriented one anchored on local investment, entrepreneurship, and youth empowerment.

He said, “We must encourage investment, local production and entrepreneurship. A production-driven economy will create jobs for our youths, strengthen local industries and reduce overdependence on imports.”

Adeola called on Nigerians to pray for peace and the consolidation of the gains of the Tinubu administration’s Renewed Hope Agenda.

The Ogun West senator and governorship hopeful said adherence to the Islamic teachings of sacrifice, love, peaceful coexistence, and brotherliness would help Nigeria consolidate what he described as “observable gains” of ongoing reforms.

He stated, “As the administration

of President Bola Ahmed Tinubu prepares to mark its third year in office with acclaimed positive indicators of escaping total collapse of the economy and achievements in socio-economic gains expected to continue trickling down to the masses, the nation needs security, peace, understanding and sacrifices to consolidate observable gains.”

Adeola assured his constituents of continued effective representation and pledged sustained interventions in education, infrastructure, and empowerment programmes aimed at complementing government efforts at all levels.

Atiku Calls for Sacrificial Leadership

Former Vice President Atiku Abubakar congratulated Muslims in Nigeria and across the globe on the celebration of this year’s Eid-ul-Adha.

In a statement by his Media Office, Atiku described the festival as a profound symbol of personal rebirth, sacrifice, and absolute trust in the Almighty.

He said, “The celebration of Sallah today is a remarkable moment as it calls our conscience to the worship of God and in having absolute faith in His divine authority as the only source of hope in the current situation that Nigeria is passing through.”

Atiku stated that the significance of Eid-ul-Adha lay in the shining example of Prophet Ibrahim (AS), who, in a moment of grief and doubt, placed absolute faith and trust in the divine decree.

The Waziri Adamawa used the occasion to call on leaders in positions of authority at all levels to emulate the leadership examples of both Prophet Ibrahim and the noble Prophet Muhammad (PBUH) by placing the welfare of their subjects first, especially in difficult times such as being currently witnessed.

Atiku stated, “In Nigeria today, leadership has become a status symbol. Leaders seem distant from the responsibilities that lie on their shoulders, without recourse to duties to their subjects.

“The occasion of this celebration is to specifically call the conscience of leaders to their duties to always ensure that the interests of the people remain paramount in their obligations.”

Atiku prayed that the spirit of sacrifice, faith, and compassion exemplified by the Eid festival will inspire all Nigerians towards national renewal and purposeful leadership.

Akume Urges Peace, Unity, Sacrifice

Secretary to the Government of the Federation (SGF), Senator George Akume, extended warm felicitations to Muslims across Nigeria and beyond as they celebrated the Eid-el-Kabir festival, urging the citizens to embrace peace, sacrifice, and national unity.

In a message yesterday, Akume described the occasion as a period of deep spiritual reflection, compassion, and devotion to the values

operations were already generating valuable intelligence, adding that troops would sustain pressure on criminal elements until those responsible were apprehended and security fully restored in the area.

The CDS also charged commanders to sustain operational momentum, prioritise troop welfare, and maintain the highest standards of professionalism in protecting civilians within their areas of responsibility.

He further urged Nigerians to continue supporting the Armed Forces by providing timely and credible intelligence, stressing that community collaboration had played a decisive role in many of the successes recorded by the military. exemplified by Prophet Ibrahim.

He called on Nigerians to use the celebration to pray for the peace, stability, and progress of the country.

The SGF noted that Eid-el-Kabir symbolised obedience, selflessness and faith in God, virtues he said remained essential in fostering harmony and strengthening national cohesion at a time the nation faces socio-economic and security challenges.

He also commended the Muslim Ummah for their contributions to national development and peaceful coexistence, stressing that Nigeria’s diversity should serve as a source of strength rather than division.

He urged citizens to promote tolerance and mutual understanding irrespective of ethnic, religious or political differences.

The SGF appealed to Nigerians to support the policies and programmes of the Tinubu administration, stressing that ongoing reforms are already yielding positive results for the country.

Akume added that the government remained committed to improving the welfare and living conditions of citizens.

Yilwatda Seeks Support for Tinubu

National Chairman of APC, Professor Nentawe Yilwatda, congratulated Muslims in the country on the celebration of this year’s Eid el-Kabir.

Yilwatda, in a statement signed Continued on page 35

35

THISDAY • WEDNESDAY, MAY 27, 2026

NEWS

LAUNCH OF CHOOSE MILK CAMPAIGN IN NIGERIA...

L-R: Paediatrician, Dr. Ayodele Renner (Noisy Paediatrician); Special Adviser to the Minister of Livestock Development, Dr. Ishaq Bello; Consul General of Denmark to Nigeria, Her Excellency Ms. Jette Bjerrum; Deputy Director and Head of Nutrition, Standards Organisation of Nigeria(SON), Mrs. Victoria Nsofor; Nollywood Actress and Choose Milk Campaign Ambassador, Funke Akindele; Senior Marketing Manager, Danish Dairy Board Representative, Mr. Lars Jensen, and Director of Food and Drug Services, Federal Ministry of Health and Social Welfare, Mrs. Olufowobi-Yusuf Adeola, during the launch of Choose Milk Campaign held in Lagos, yesterday PHOTO: SUNDAY ADIGUN

Dickson Moves to Check Power Struggle in 2027, Says NDC Not Special Purpose Vehicle Insists no one can hijack the party Obi urges aspirants to embrace sacrifice, national service

Sunday Aborisade in Abuja National Leader of the Nigeria Democratic Congress (NDC), Senator Seriake Dickson, yesterday moved to contain looming internal power struggles ahead of the 2027 general election, declaring that the fast-rising opposition platform would not be turned into a “special-purpose vehicle” for the presidential ambition of any individual politician.

Dickson spoke in Abuja amid growing political calculations surrounding Mr. Peter Obi and the expected role of Rabiu Musa Kwankwaso within the emerging opposition coalition ahead of 2027.

Speaking during the inauguration of the NDC National Selection Committee and later at the party’s Aspirants Dinner in Abuja, Dickson stressed that the party was being built as a lasting political institution driven by ideology, reforms and

national interest rather than personal ambition.

“We are not building a specialpurpose vehicle for any individual.

We are building together a political party that will stand the test of time,” Dickson declared.

Dickson repeatedly emphasised the need for transparent systems, strong institutions and credible processes within the party.

He disclosed that the newly inaugurated 21-member National

Selection Committee, chaired by the NDC National Chairman, Moses Cleopas, would engage extensively with stakeholders, caucuses and state leaders to guarantee fairness and consensus in future candidate selection processes.

The committee, according to him, has been mandated to coordinate consultations and consensusbuilding ahead of future primaries.

In what appeared to be part of broader efforts to distinguish the

NDC from other political parties accused of manipulating internal elections, Dickson also announced plans to introduce electronic voting for future party primaries.

Also speaking at the event, Obi urged aspirants and party faithful to place national interest above personal ambition and prepare for sacrifice in the struggle to rebuild the country.

“My first message is gratitude — gratitude to Almighty God who

SALLAH: TINUBU DECLARES SACRIFICES BY NIGERIANS YIELDING RESULTS

by his Special Adviser on Media and Information Strategy, Abimbola Tooki, described the occasion as a sacred festival of faith, sacrifice, obedience, love, and devotion to Almighty Allah.

He called on the Muslim communities in the country to support the ongoing reforms of the Tinubu administration.

Yilwatda stated that Eid el-Kabir was one of the most significant celebrations in Islam, symbolising the virtues of selflessness, unity, compassion, tolerance, and total submission to the will of God, as exemplified by Prophet Ibrahim.

He said the spiritual lessons of the celebration were highly relevant to Nigeria at this critical stage of national development, stressing that sacrifice, patience, perseverance, and collective responsibility are essential ingredients needed to build a stronger, more united, and prosperous nation.

Yilwatda urged Nigerians, particularly the Muslim Ummah, to continue to promote peaceful coexistence, national unity, and harmony across ethnic, religious and political lines, adding that the Sallah celebration should further strengthen the bonds of love, understanding, and brotherhood among citizens.

The APC chairman expressed confidence that under the leadership of Tinubu, Nigeria would emerge stronger, more resilient, and economically competitive in the comity of nations.

Sanwo-Olu Urges Nigerians to Embrace Peace

Lagos State Governor, Mr. Babajide Sanwo-Olu, rejoiced with Muslims across the country, especially in Lagos, on the occasion of this year’s Eid-el-Kabir celebration, urging them to embrace pace.

Sanwo-Olu, in his Eid-el-Kabir message signed by his Special Adviser on Media and Publicity, Mr. Gboyega Akosile, congratulated Muslims in Lagos and advised them to continue on the path of spirituality and peaceful co-existence.

He urged Nigerians, especially Muslims, to imbibe the lessons of sacrifice made by Prophet Ibrahim and work for the peace, unity, and progress of the nation.

The governor said Eid al-Adha became a symbolic event in the history of mankind, given the bountiful rewards that followed the patience and perseverance of Prophet Ibrahim, who held on tenaciously to his faith in God, despite being afflicted.

Sanwo-Olu stated, “This symbolic Islamic festival is a reminder to us that there will always be great rewards when we have abiding faith and patience in trying periods, with persistence in prayers, and tenacity in our belief.

“It also reminds us of the sacrifice we are expected to make not only for the purpose of spiritual fulfillment but also for the progress of mankind and development of our society.

“I want to appeal to all Lagos residents and Nigerians to draw lessons from Prophet Ibrahim’s examples by eschewing tendencies that could severe the unity and stability in the country.”

Sanwo-Olu advised Nigerians to

support the Tinubu administration’s efforts to build a nation that would work for all, saying the need to keep Nigeria on the path of development is a collective responsibility of all citizens.

Meanwhile, Sanwo-Olu and his deputy, Dr. Kadiri Hamzat, yesterday, joined the 1,600 Lagos pilgrims performing this year’s Hajj in the kingdom of Saudi Arabia in a prayer session on the Mount Arafah.

Sanwo-Olu and Hamzat, who made separate video calls to the state’s pilgrims as they performed the core Hajj rite, congratulated the pilgrims on reaching Arafah and prayed for a rewarding and accepted Hajj. They also prayed for their safety on the return journey.

Hamzat prayed for the pilgrims and urged them not to take the privilege for granted, describing Hajj as a once-in-a-lifetime opportunity to be guarded jealously.

The pilgrims expressed appreciation for the calls and prayed for the success of the Sanwo-Olu administration, Hamzat’s victory as the incoming governor, and Tinubu’s re-election in the 2027 general election.

In his remark, Amir-ul-Hajj and Commissioner for Home Affairs, Ibrahim Layode, thanked the governor and the deputy governor for connecting with the pilgrims. They stressed that the gesture showed compassion and commitment to the welfare of the 1,600 Lagos pilgrims.

Mbah Preaches Unity, Tolerance, Hope

Enugu State Governor, Peter

Mbah, felicitated Muslim faithful in the state and the country as whole on the occasion of Eid-el-Kabir, urging unity, tolerance, sacrifice, and hope.

Mbah, in his Eid goodwill message, also called for charity, urging Nigerians to rise in solidarity with one another, especially the less privileged.

He stated, “Eid-el-Kabir reminds us that sacrifice lies at the very heart of true service to God and humanity. It calls to mind the profound blessings inherent in the virtues of patience, obedience, trust, and unwavering faith – values exemplified by Prophet Ibrahim and which remain timeless lessons for us all.

“At a time when our nation continues to navigate important political and economic transitions, the significance of this celebration becomes even more profound.”

Mbah said, “Let us be reminded that we all belong to one shared humanity and our collective progress as a people depends on our ability to uphold unity, mutual respect, peace, and compassion above all divisions.

“This season, therefore, offers us another opportunity to recommit ourselves to the ideals of tolerance, sacrifice for the common good, and solidarity with one another, especially the vulnerable among us.

“As we celebrate, I urge all citizens to continue to pray for the peace, stability, and prosperity of our dear state and nation. Let us also continue to work together in harmony to build a society defined by justice, opportunity, and shared progress for all.”

Abiodun Urges Peace, Sacrifice

Ogun State Governor, Dapo Abiodun, congratulated Muslim faithful in Ogun State and across the country on the celebration of this year’s Eid-el-Kabir, urging them to imbibe the virtues of sacrifice, obedience, love, and peaceful coexistence as exemplified by Prophet Ibrahim.

In his Sallah message, Abiodun said Eid-el-Kabir wasa significant spiritual occasion that taught humanity the importance of faith, selflessness, tolerance, and total submission to the will of Almighty Allah.

The governor called on residents of the state to continue to live in peace and harmony, irrespective of religious or ethnic differences, stating that unity and mutual understanding are critical to the continued progress and development of the state and the country at large.

Abiodun also urged Nigerians to continue to support the initiatives and reforms of the federal government. He said the policies being implemented would ultimately take the country out of its present economic challenges and place it on the path of prosperity, growth, and stability.

The governor reaffirmed his administration’s commitment to improving the welfare of the people through sustained investments in infrastructure, security, education, healthcare, youth empowerment, and economic development under the Building Our Future Together agenda.

Fubara: Season Calls for Deep Reflections

made it possible for all of us to carry this light,” Obi said.

The presidential hopeful cautioned aspirants against viewing electoral defeat as the end of their political careers, insisting that leadership should be anchored on service and sacrifice.

“All of us will not succeed. All of us will not be selected. But it is time we start recognising people who have worked hard and sacrificed for this country,” he stated.

Rivers State Governor, Siminalayi Fubara, felicitated Muslim faithful in the state and across Nigeria as they celebrate Eid-el Kabir, the festival of sacrifice, saying the season calls for deep reflection.

In a statement by his Chief Press Secretary, Onwuka Nzeshi, Fubara described the festival as a season that called on everyone, irrespective of faith, to have a deep reflection on the values of sacrifice, compassion, generosity, and unity.

The governor also expressed gratitude to the Muslim community for its contributions to the peace, economic growth, and social harmony in Rivers State.

According to him, the celebration of Eid Kabir should be a moment for all Muslims and non-Muslims alike to reaffirm their commitment to peaceful coexistence, mutual respect, and collective progress.

Fubara enjoined them to ensure that diversity in faith did not become a source of division, but of strength to enhance peaceful coexistence.

“As you gather with family, friends, and neighbours to share meals and offer prayers, I urge you to extend hands of kindness to the less privileged in our midst. Let the spirit of sacrifice that defines this festival inspire us to give more, forgive more, and love more,” he said.

Okpebholo Asks Muslims to Uphold Virtues of Peaceful Coexistence, Obedience, Others

Edo State Governor, Senator Continued on page 36

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WEDNESDAY, MAY 27, 2026 • THISDAY

NEWS

APPRECIATION PARTY TO CELEBRATE LAGOS MARRIOTT’S 5TH ANNIVERSARY...

L-R: General Manager, Lagos Marriott Hotel, Ikeja, Mr. LR Lakshmanan; Chairman, Dr. Taiwo Afolabi, CON; his wife, Mrs. Folashade Afolabi; and the MD/CEO, Ogbueshi Chike Ogeah, at an appreciation party to celebrate the fifth anniversary of Lagos Marriott, Ikeja, at the weekend

SALLAH: TINUBU DECLARES SACRIFICES BY NIGERIANS YIELDING RESULTS

Monday Okpeholo, called on Muslims to uphold the virtues of sacrifice, obedience, love and peaceful coexistence as exemplified

by Prophet Ibrahim on the occasion of Eid-al-Adha.

Okpeholo maintained that Eid-alAdha was a significant period for reflection, devotion, and commitment to the will of Almighty Allah.

He stressed that the lessons of the festival should inspire citizens to work together for the peace, unity, and development of the state and the nation at large.

Okpebholo commended the Muslim faithful in Edo State for their continued prayers, support and contributions towards the growth and stability of the state, assuring them of his administration’s commitment to inclusive governance, infrastructural development, and improved welfare for all residents.

He called on citizens to use the festive period to promote harmony, show kindness to the less privileged and strengthen the bonds of brotherhood irrespective of religious or ethnic differences.

The governor also urged the people to continue to support government efforts aimed at building a prosperous and secure Edo State, while praying for Allah’s guidance, mercy, and abundant blessings upon the state and the country.

Gwarzo Urges Sacrifice, Peaceful Coexistence

Former Deputy Governor of Kano State, Comrade Aminu Gwarzo, felicitated with Muslims across Kano State and Nigeria on the occasion of Eid-el-Kabir, urging residents to sustain the virtues of spirituality, sacrifice, and peaceful coexistence.

In an Eid-el-Kabir message, through his spokesperson, Ibrahim Shuaibu, Gwarzo called on Muslims to reflect on the lessons of obedience, patience, and faith demonstrated

by Prophet Ibrahim.

He extended warm greetings to the national leader of the Kwankwasiyya movement, Rabiu Kwankwaso, members of the movement, and their supporters across the country.

Gwarzo urged the people of Kano to continue to promote unity, tolerance, and harmony during and after the festive period.

“I wish all our Muslim brothers and sisters in Kano and Nigeria a happy and peaceful Eid-el-Kabir celebration,” he said.

FG Approves 50% Fare Discount on Train Services Across Corridors

The federal government, through the Federal Ministry of Transportation, approved a 50 per cent fare discount on all train services operated by the Nigerian Railway Corporation

(NRC) as part of measures to ease transportation costs for Nigerians during the Eid-el-Kabir celebration.

The government said the discount took effect from yesterday, Tuesday, and would run through Monday, June 1.

Permanent Secretary, Federal Ministry of Transportation, Funsho Adebiyi, disclosed the reduc-tion in a statement issued by Deputy Director, Information and Public Relations.

Adebiyi said, “Ticket fares on all NRC passenger train services across the country have been reduced by 50 per cent of the existing approved rates within the stated period.

“Passengers who had earlier purchased tickets at the full fare before the announcement will be entitled to a 50 per cent rebate, reusable for train rides on or before Monday, June 1, 2026.”

Adebiyi added that train schedules and timetables remained as previously advertised.

A chieftain of APC, Dr. Bala Wunti, called on Muslims across Nigeria and around the world to use the occasion of Eid al-Adha to pray for the peace, security, and unity of the country, as well as the peaceful conduct of the 2027 general election.

Wunti made the call in an Eid message by Chief Communication Officer of the Bala Wunti Support Organisation, Abubakar Al-Sadique.

While congratulating Muslims on the successful completion of the spiritual rites associated with the celebration, Wunti urged Nigerians to continue to promote peaceful coexistence, tolerance, and national unity, irrespective of ethnic, religious, or political differences.

He emphasised the need for citizens to place the collective interest of Nigeria above personal, sectional, or political considerations, stating that national development can only thrive in an atmosphere of peace and stability.

Makarfi Calls for Reflection, Issa-Onilu: Uphold Faith in Prayers God, Patriotism

Former Governor of Kaduna State, Senator Ahmed Makarfi, called on Nigerian Muslims to use the Eid el Adha period for sober reflection on the situation in the country and pray over the numerous challenges confronting the country.

In his goodwill message, Makarfi urged Muslims not to lose sight of the lessons of sacrifice and obedience, which formed part of the essence of Eid el Adha, as exemplified by Prophet Ibrahim’s willingness to sacrifice his son in obedience to God’s command.

The former governor urged Muslims to emulate the spirit of devotion and submission to the will of God by maintaining faith in Him and continuously praying for guidance and protection.

He stated, “I send warm felicitations to the Nigerian Muslim community and indeed all Nigerians, as it has pleased Allah (SAW) to enable us to witness yet another Eid el Adha celebration.

“Even as we celebrate, however, it remains incumbent upon us to continue to submit to Allah by rededicating ourselves to His cause and ensuring that we imbibe the lessons of the season.

“We must not lose sight of the lessons of sacrifice and obedience to the dictates of Allah, which form part of the essence of the Eid el Adha as exemplified by Prophet Ibrahim’s willingness to sacrifice his son in obedience to the command of Allah.”

Bala Wunti Prays Peace, Unity Ahead 2027

Director-General of National Orientation Agency (NOA), Mallam Lanre Issa-Onilu, called on Nigerians to uphold faith in God and demonstrate patriotism to fatherland as a way of strengthening national unity and development.

Isaa-Onilu said the Eid celebration served as a reminder of the need for citizens to remain committed to the ideals of peaceful coexistence, mutual respect, and collective responsibility towards nation-building.

He stated that the lessons of Eid al-Adha were relevant to Nigeria’s current realities, stressing that sacrifice, discipline, and compassion are essential virtues needed for national growth and stability.

He encouraged Muslims to emulate the exemplary devotion and obedience of Prophet Ibrahim by promoting acts of kindness, charity, and support for the less privileged members of society during the celebration.

While highlighting government’s efforts to address insecurity, IsaaOnilu urged citizens to avoid actions that could threaten public peace and unity, and, instead, promote dialogue, tolerance, and responsible conduct before, during, and after the festivities.

Bauchi CP, Gombe FRSC Deploy Personnel, NSCDC Mobilises 56,000 Men Countrywide

Bauchi State Commissioner of Police, Mr Sani-Omolori Aliyu, deployed personnel to Eid grounds, major highways, recreational centres, and other public places in all the 20 local government areas of the

state, to ensure a hitch-free festivity.

A statement by the command’s spokesperson, Superintendent of Police Nafiu Habib, said the deployment included conventional police officers, tactical teams, and traffic personnel working in synergy with sister security agencies and local vigilante groups.

Habib advised criminal elements to steer clear of the state, warning that the command will deal decisively with anyone or group found disrupting public order or engaging in thuggery, reckless driving, use of knockouts/fireworks, and other unlawful acts.

He stated, “The command solicits the cooperation of all residents by reporting any suspicious persons, movements, and objects to the nearest police station or through the following emergency lines: 08151849417; 07031961762; 08050404039.”

Equally, Gombe State Command

of Federal Roads Safety Corps (FRSC) deployed 613 Regular and Special Marshals, 14 Operational Vehicles, and one tow truck for the Eid-El Adha celebration.

The deployment, approved by Sector Commander, CC Samson Kaura, was to ensure a crash-free celebration as well as enhance free flow of traffic during the festive period, as contained in a statement by Command Public Education Officer, SRC Janet Kassa, made available to journalists in Gombe.

Kassa stated that the special patrol, which commenced on May 25, would last through May 31, while the deployed personnel were for traffic control, rescue services, clearing of road obstructions, and a reminder to the public of the need to drive cautiously so as to avoid the menace of road traffic crashes on the roads.

At the same time, Nigeria

Security and Civil Defence Corps (NSCDC) deployed over 56,000 personnel and tactical squads nationwide to ensure maximum security during the Eid-el-Kabir celebration, with a strong warning to criminal elements planning to disrupt public peace or vandalise critical infrastructure.

The nationwide deployment, approved by Commandant-General of NSCDC, Professor Ahmed Audi, included operational vehicles, ambulances, boats, and K9 units to guarantee rapid emergency response and protection of Critical National Assets and Infrastructure across the country.

According to a statement issued on Tuesday by National Public Relations Officer of the corps, Assistant Commandant of Corps Babawale Afolabi, all specialised tactical units of the corps have been placed on red alert to forestall security breaches during the festive period.

AMEND TIME-TABLE TO COMPLY WITH ELECTORAL ACT, ANOTHER COURT ORDERS INEC sives Congress (APC) to join the Peoples Democratic Party (PDP), and clinched the governorship ticket of the party. A direct fallout of the recent court ruling that sets aside INEC’s Revised Timetable and Schedule of Activities for the 2027 general election released by the Independent National Electoral Commission (INEC).

Justice Mohammed Umar, in a judgement, held that the time-frame “imposed” by INEC on political parties to conduct their primaries, submit, withdraw, and replace names and particulars of their candidates for the 2027 general election “is inconsistent with the provisions of the Electoral Act, 2026”, and, therefore, set it aside.

The judgement was in respect of a suit challeng-ing INEC’s timeframe for the conduct of the 2027 general election, primarily aimed at preventing peo-ple, who lost in primary elections from defecting to other parties and vying for the same offices they had earlier lost in their former parties.

Pantami emerged through a voice affirmation during a primary election held yesterday in Gombe.

He was declared the sole aspirant by the Chairman of the PDP Electoral Panel, Hon. Gregory Yenlong.

Speaking shortly after he was declared winner, Pantami said he contested for the seat to offer service to people of the state.

He pledged that if elected in 2027, he would govern with fairness and justice.

Pantami is now up against Jamilu Gwamna, the gubernatorial candidate of the APC in Gombe.

Earlier, Pantami had kicked

against the process that produced Gwamna as consensus candidate of the APC. He had opted for primaries but pulled out of the exercise on the eve of the election, alleging lack of transparency.

Days after the primaries of the APC, four gubernatorial aspirants of the PDP raised the alarm that there was an attempt to smuggle Pantami into the PDP gubernatorial race.

In a communique issued after an emergency meeting on Sunday in Gombe, the aspirants, Alhaji Abdulkadir Hamma Saleh, Hon. Khamisu Ahmed Mailantarki, Hon. Usman Aliyu Garry and Mrs ⁠Monica Kaltho, said the law did not permit a candidate to defect from one political party to another and subsequently contest the same election process after votes have already been cast and counted in his favour in another party’s primaries.

The aspirants said they welcomed every well-meaning individual into the PDP, but strongly object to any attempt to involve a person who already contested primaries in another party.

But on Tuesday, PDP stakeholders chose Pantami as the right man to fly the party’s flag.

Ropshik Wins Plateau PDP Ticket

Prominent businessman and philanthropist, Chief Kefas Wungak Ropshik, has emerged the governorship candidate of the PDP in Plateau State after defeating three other aspirants in a keenly contested primary election.

A statement by his Media Office

in Abuja explained that Ropshik secured 19,938 votes in the exercise, which attracted delegates and party faithful from the 17 local government areas of the state, underscoring the intensity of the contest and the widespread participation within the party.

His emergence is being viewed as a major political breakthrough for the Kanke Local Governmentborn politician, whose grassroots mobilisation and extensive consultations across the state reportedly strengthened his support base ahead of the primary.

Addressing delegates and supporters shortly after he was declared winner, Ropshik described his victory as a collective mandate for a new Plateau founded on unity, security, prosperity and inclusive governance.

Kutagi Picks ADC Guber Ticket in Niger

The African Democratic Congress (ADC) has announced Dr Idris Kutagi as the winner of its gubernatorial primary election held across the state on Monday Kutagi, who hails from Mokwa town will slug it out with incumbent Governor, Mohammed Umaru Ba-go of the APC. Kutagi won in 24 out of the 25 local governments polling 67,924 votes to defeat his lone challenger, Alhaji Idris Usman, who scored 21,769 votes winning only in Bida his local government area of origin.

Secretary of the Electoral Committee for the state, Mr Ibrahim Mohammed, who announced the results said the election was held in a “free and transparent manner.”

WEDNEsday MAY 27, 2026 • T H i s d ay

37

NEWSxtra

Bauchi Begins Recovery of Billions Lost to Financial Irregularities

SegunAwofadejiinBauchi

The Bauchi State Executive Council has approved and ratified major policy decisions and infrastructure projects aimed at strengthening governance, improving traditional institutions, recovering public funds, and expanding critical infrastructure across the state.

This was because the government remains firmly committed to delivering democratic dividends to the people of the state despite recent political developments and economic pressures confronting the government.

The State Executive Council (SEC), chaired by the state Governor, Bala Mohammed, last Monday approved a pay package increase of over 300 per cent for all traditional rulers in the state. The council also placed them on the state payroll.

The development followed the approval of a new remuneration

structure for traditional rulers, which significantly increased their monthly pay package. The aim is to boost morale, enable them to perform their traditional functions effectively, and assist the government in maintaining peace and a stable environment across the state.

Briefing journalists after the Executive Council meeting held at the Government House in Bauchi yesterday, the Chief Economic Adviser to the Governor, Alhaji Yahuza Adamu, said the council approved an upward review of remuneration for traditional rulers across the state as part of efforts to strengthen traditional institutions for effective community governance.

Adamu, who earlier presented the memo on behalf of the Head of Service, explained that the review covers First Class, Second Class, and Third Class Emirs, District Heads, and Village Heads, noting that some traditional rulers previously earned little

or no remuneration before the present administration.

He stated that the government had already provided vehicles, housing, and other support facilities for traditional rulers, adding that the newly approved remuneration package represents over three hundred percent increase from previous earnings.

Also speaking, the state Commissioner for Justice and Attorney-General, Hassan ElYakub, disclosed that the council considered and accepted most recommendations contained in two separate white paper reports presented before the council.

He explained that the first white paper followed the report of an investigative panel set up by Governor Mohammed to probe alleged abuse of administrative and financial procedures, including unauthorised loans and financial transactions linked to the tenure of former Accountant-General of the state between 2021 and 2024.

Signature Bank Posts Stronger 2025 Performance, Profit Rises to N3.59bn

KayodeTokede

Signature Bank Limited has reported a significantly stronger financial performance for the year ended December 31, 2025, reinforcing the bank’s steady growth trajectory as it continues to strengthen its position within Nigeria’s banking industry.

The performance was presented at the bank’s 4th Annual General Meeting (AGM), where shareholders approved the Audited Financial Statements for the 2025 financial year alongside other statutory resolutions.”

Despite a challenging macroeconomic environment characterised by inflationary pressures, exchange rate volatility, and tighter regulatory conditions, the bank recorded strong growth across key financial and operational indicators, with Profit After Tax rising to N3.59 billion from N726 million in 2024, gross earnings increasing by 94.5 per cent to N24.99 billion, total assets growing to N224.7 billion, and customer deposits

increasing to N170.8 billion.

The bank also recorded a significant improvement in operational efficiency during the year, with its cost-to-Income ratio improving from 92 per cent to 66 per cent. Shareholders’ equity also strengthened to N25.2 billion.

Speaking at the AGM, Chairman, Board of Directors, Tijjani Borodo, described the 2025 financial year as a defining period for the bank, marked by resilience, disciplined execution, and steady institutional growth despite the challenging operating environment.

“The bank demonstrated remarkable resilience in the face of macroeconomic pressures and continued to make measurable progress across key performance indicators. Our focus remained on disciplined growth, operational efficiency, sound governance, and building a stronger institution positioned for sustainable long-term value creation,” he said.

Managing Director/Chief Executive Officer, Nixon Iwedi, said the bank’s 2025

performance reflected the impact of deliberate institution-building efforts, disciplined execution, and the commitment of employees across the organisation.

“Our performance in 2025 is a reflection of the resilience of our strategy, the dedication of our people, and the confidence our customers continue to place in the Bank. We remained focused on improving operational efficiency, strengthening our balance sheet, enhancing customer experience, and building a modern and customer-centric financial institution positioned for sustainable growth,” he said.

Iwedi added that the bank would continue to focus on prudent risk management, digital innovation, customerfocused service delivery, and strategic business growth initiatives in the years ahead.

Signature Bank reaffirmed its commitment to responsible banking, strong corporate governance, and delivering long-term value to customers, shareholders, employees, and other stakeholders.

Group Advocates PeopleDriven Governor in Rivers Blessing Ibunge in Port Harcourt

As Rivers State moves steadily toward the 2027 governorship election, a socio political group under the aegis of ‘Reclaim Rivers Advocates’ has called for people- driven governor beyond godfatherism in the state.

The Chairman of the group, George Awaji and Secretary Mina Green, during a press briefing in Port Harcourt, said the governorship candidate of the Nigerian Democratic Congress (NDC), Blessing Fubara Snr, has continued to reshape political conversations across the State, especially

among youths, professionals and citizens searching for a credible alternative.

Awaji expressed that “following the successful screening of aspirants and the anticipated party primaries, one name continues to generate increasing momentum across the political landscape, Blessing Fubara of the NDC.” The group stressed they, unlike many politicians often associated with elite bargaining, transactional politics and entrenched godfatherism, Fubara is increasingly seen as representing a fresh political direction rooted in grassroots

acceptance, independent leadership and people-focused governance.

“Compared with contenders such as Gabriel Pidomson and Kingsley Chinda, Blessing Fubara appears more aligned with the current mood and expectations of Rivers people.

At a time when many citizens desire courage, accessibility and innovative leadership, his profile continues to resonate strongly across different demographic,” the group said.

The group explained that one of Fubara’s greatest political strengths remains his growing connection with young people.

PETROLEUM TECHNOLOGY DEVELOPMENT FUND (PTDF) PTDF House, Plot 1058 Memorial Drive, Central Area, Cadastral Zone A00, Abuja

PUBLIC ANNOUNCEMENT

RELEASE OF SUCCESSFUL CANDIDATES FOR THE 2026/2027 PTDF OVERSEAS SCHOLARSHIP SCHEME (M.Sc/PhD)

T h e Pe t r o l e u m Te c h n o l o g y Development Fund (PTDF) is pleased to announce the release of the list of successful candidates for the 2026/2027 Overseas Scholarship Scheme (OSS) for M.Sc and PhD programmes. This follows the successful conclusion of the selection interview exercise conducted between 7th and 17th April, 2026.

All applicants who participated in the interview exercise are hereby advised to visit the PTDF official website to verify their application status.

Successful candidates are kindly informed that further details, including relevant guidelines and directives regarding the scholarship award will be communicated through their registered email addresses.

PTDF congratulates all successful awardees and wishes them greater accomplishments in their academic pursuits.

Signed: Management

38

WEDNESDAY, MAY 27, 2026 • T H I S D AY

BACK PAGE CONTINUATION NIGERIAN ELITE AND THE DEATH OF DEMOCRATIC PROMISE

how political classes rise and fall, distinguished between the mere rotation of elites and their genuine renewal.

According to him, rotation recycles faces, while renewal changes the quality, accountability, and orientation of the class itself.

Nigeria, across military and civilian governments alike, has mastered rotation. It has not begun to learn renewal. The problem, today, runs deeper than incompetent leadership. It is structural and has been quietly worsening for over two decades.

In the 27 years of the Fourth Republic, Nigeria’s governing elite has calcified in a singular survival strategy. It would rather absorb opposition than compete with it. When a rival becomes too prominent, the system does not defeat him on the merits. It buys him, pressures him, or renders the environment hostile enough that joining the ruling arrangement becomes more convenient than resisting it.

The result is a political landscape populated by alliances that make no ideological sense whatsoever. Men who once stood on opposite

Senate President Godswill Akpabio sides of fundamental questions about governance, economics, and national direction now share

platforms, trade endorsements, and appear at the same rallies, bound together by nothing more principled than the shared need to remain relevant and protected.

Without ideology, political parties lack vision, and without vision, they cannot credential a new generation of leaders on merit. And without that credentialing process, no political system can produce the organic elite replacement that every maturing democracy requires. Italian political scientist Gaetano Mosca observed that in every society and every era, an elite minority has always governed.

The question is whether our elite minority is accountable, constrained by institutions, and capable of renewing itself. The honest answer on all three counts has been steadily worsening.

What we have is an ageing cohort that controls access, distributes patronage, and sets the terms of political survival. Those with genuine talent and ambition are not absent from the arena; they are simply made to understand that entry is available on one condition of total submission.

The British example is instructive. Their system is

not perfect, but it demonstrates that even a deeply conservative political establishment can be compelled to renew itself when the institutional architecture is strong enough to demand it. Parties lose. Leaders resign. New faces earn their place through genuine competition. The system is self-correcting precisely because it retains what Nigeria’s political order has spent 25 years dismantling - functional parties, ideological distinctions, and elections that mean something.

Nigeria does not need another strongman arriving with a broom and borrowed moral authority, only to scatter the dirt in different directions. What Nigeria urgently needs is an architecture of elite renewal, succession pathways that reward merit, and an opposition with the spine to be a genuine alternative rather than a waiting room for defectors. The old order must end. If it does not, every future season of “change” will do what it has always done - re-costume the old cast and restart the same tired play.

•Dr Richard Ikiebe is a Media and Management Consultant, Teacher and Chairman, Board of Businessday Newspaper

NEWS

FG Orders Reopening of Abuja-Kaduna Road Sections Amid Massive Eid Gridlock

Emmanuel Addeh in Abuja

The Minister of Works, David Umahi, has directed the immediate reopening of all sections of the Abuja–KadunaKano highway currently under rehabilitation following prolonged gridlock that left thousands of commuters stranded ahead of the Eid al-Adha celebrations.

In a statement issued by the minister’s media aide, Francis Nwaze, Umahi ordered the contractor handling the project, Infiouest

Nigeria Limited, to open up every accessible section of the road to ease traffic congestion and ensure safer movement during the festive period.

The minister said the decision became necessary following severe traffic build-up along the corridor, worsened by increased holiday travel, ongoing rehabilitation works and heavy rainfall.

“The Honourable Minister of Works, Senator Engr. David Umahi, has directed the contractor handling the Abuja–Kaduna-Kano Road

project, Infiouest Nigeria Limited, to immediately open all sections of the road to ease the movement of commuters traveling during the Eid al-Adha festive period and ensure safer and smoother journeys,” he stressed Security agencies have also been deployed to strategic points along

the road to maintain law and order and ensure the safety of road users throughout the festive season. the statement said.

Umahi also confirmed that an earlier accident along the highway, which contributed to the congestion, had been completely cleared.

He added that security agencies

The Bank of Industry (BOI) has declared that pressures arising from climate change are “collectively weakening the competitiveness and economic resilience of Nigerian enterprises, particularly across sectors such as manufacturing, agriculture, infrastructure.”

The BOI also said these pressures are impeding the ability of actors, “to adapt and fully express all that are reposed within these sectors.”

These were declared yesterday by the Executive Director, Corporate Finance and Risk Management, BOI, Mr. Rotimi Akinde, during the virtual inaugural session of the BOI Climate Resilience Knowledge Series with the theme “Building Climate Resilience Enterprises in Nigeria for Sustainable Livelihood and Inclusive Growth.”

Akinde said across the country today, “we are witnessing rising temperature, unpredictable rainfall patterns, flash floods and heatwaves that are threatening food security, eroding livelihoods, displacing communities and widening gender equalities.”

He added:: “These are not just mere rhetoric. Rather they have become a reality as witnessed by thousands of farmers in Kebbi State; manufacturers in Kano, and also communities in Lagos State and in the Niger Delta, particularly Bayelsa State.”

According to Akinde, the BOI was now taking very deliberate steps aimed at responding to threats posed by climate change “through what we call targeted financing.

“So, we are actively engaging enterprises not only to grow but to build resilience needed to withstand the evolving climate landscape.

“We recognise that climate adaptation is not just an environmental citation but an economic one.

“Consequently, businesses that cannot adapt to climate changes will continue to struggle for their sustainability.

“Sectors that are not climate proof will be constrained to attract the long term investments that Nigeria needs,” he added.

He said if the BOI would fail to address these climate- related issues as a development financial institution, which it believed was at the core of the bank’s mandate, BOI could be potentially affected by fitness for purpose in the foreseeable future.

“That is why we have convened this webinar series today because climate resilience is not a farfetched topic. Rather it is central to Nigeria’s industrial future and today is an opportunity to advance that conversation in a meaningful way,” Akinde said.

He added: “We believe this discussion is timely given the fact that Nigeria is at the point of inflection with vast endowment in human and natural resources that are yet to be fully exploited.

“Yet, this potential is increasingly threatened not necessarily from lack of ideas or ambition because there is a lot of energy that we see in Nigeria but from the accelerating impacts of changing climate that we must now urgently confront.”

region, witnessed hours-long traffic snarls beginning Monday, leaving travellers trapped in stationary traffic for extended periods.

According to reports, many passengers travelling to northern states for the Eid-el-Kabir celebrations spent several hours on the road as vehicular movement slowed to a crawl.

Details of Results Officially Released by ADC Presidential Primary Election Committee

Chuks Okocha in Abuja BOI: Climate Change Weakening STATE GOMBE STATE Competitiveness, Economic Resilience of Nigerian KEBBI Registered - 72,124 Registered - 160,982 Manufacturing, Agriculture, Infrastructure Poling unit - 37, 225 Accredited 140,149 Hayatu-Deen 454 Dike Onwuamaeze

had been deployed to strategic locations along the route to maintain order and guarantee the safety of motorists and other road users throughout the holiday season.

The Abuja-Kaduna highway, one of Nigeria’s busiest transport corridors linking the Federal Capital Territory (FCT) with the northern

Amaechi - 5,931 Atiku - 65,533 Total votes cast - 71,908 No issues

ANAMBRA STATE Registered - 99,349, Valid votes - 83,512

Hayatu-Deen - 7,861 Amaechi - 17,085 Atiku - 58,566 Total votes cast - 83,512 Peaceful but logistics issue solved by zonal Chairman

ABIA STATE

Registered - 46,756

Hayatu-Deen - 2,264 Amaechi - 18,339 Atiku - 25,153 Total votes cast - 45,756

EKITI STATE

Registered - 30,958 Accredited - 20,118

Hayatu-Deen 149 Amaechi - 1,574 Atiku - 18,395 Total votes cast - 20,118 Peaceful

ONDO STATE

Registered - 31,604 Accredited - 25,175

Hayatu-Deen 175 Amaechi - 6,031 Atiku - 18,287 Total votes cast - 24,493 Peaceful

Hayatu-Deen 455 Amaechi - 1,140 Atiku - 136,933 Total votes cast - 138,528 Peaceful, over counting in one ward and cancelled

KOGI STATE

Hayatu-Deen 365 Amaechi 300 Atiku - 44,841 Total votes cast - 45,506 Peaceful

Hayatu-Deen - 9,173 Amaechi - 23,573 Atiku - 48,351 Total votes cast - 81,097 10 wards cancelled in Idah

Registered - 47,307 Accredited - 45,506

Registered - 49,400 Accredited -

Hayatu-Deen - 5,576 Amaechi - 14,721 Atiku - 18,704 Total votes cast - 39,001 Peaceful

OYO STATE

Registered - 29,266 -

568 1,553 23,011

Total votes cast - 25,132 Peaceful

IMO STATE

Registered - 97,034 Accredited - 61,002

Hayatu-Deen - 1,121 Amaechi - 7,659 Atiku - 52,222 Total votes cast - 61,002 Peaceful

Registered Accredited - 12

NASARAWA STATE TARABA STATE Registered - 80,025 Accredited - 60,075

FCT

Hayatu-Deen Amaechi Atiku

YOBE STATE

Hayatu-Deen - 6,774 Amaechi - 13,656 Atiku - 41,649 Total votes cast - 62,079 11 out of 13 LGAs reported

KANO STATE

Registered - 250,980 Accredited - 181,503

ENUGU STATE Registered Accredited -

Hayatu-Deen Amaechi Atiku Total votes cast Data not provided

Hayatu-Deen - 8,369 Amaechi - 25,150 Atiku - 48,523 Total votes cast - 82,042 Peaceful

- -

BENUE STATE

Registered - 108,881 Accredited - 1,119

Hayatu-Deen - 22,141 Amaechi - 30,881 Atiku - 55,177 Total votes cast - 108,199 Peaceful

Hayatu-Deen - 15,914 Amaechi - 9,994 Atiku - 155,595 Total votes cast - 181,503 John Ayuba

AKWA IBOM STATE Registered - 41,010 Accredited -

Hayatu-Deen - 2,054 Amaechi - 20,343 Atiku - 17,623 Total votes cast - 40,020 Peaceful

OSUN STATE

ADAMAWA STATE

Hayatu-Deen - 4,558 Amaechi 72 Atiku - 12,321 Total votes cast - 16,951

Hayatu-Deen - 18,949 Amaechi 1,896 Atiku - 177,141 Total votes cast - 197,986

Registered - 17,756 Accredited -

Registered 265 Accredited - 197,908

39

THISDAY • WEDNESDAY, MAY 27, 2026

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Super Eagles New Boy, Femi Azeez, Stuns Zimbabwe’s Warriors with Debut Brace Duro Ikhazuagbe

Nigeria’s Super Eagles are on course to retaining the four-nation Invitational Unity Cup Tournament after new

U N I T Y C U P TO U R N A M E N T

boy, Femi Azeez, scored two goals against Zimbabwe in his debut game

Nigeria Cricket Federation Appoints Mangongo as New Head Coach The nigeria cricket federation (ncf) is to unveil newly appointed stephen maziva mangongo as the head coach and high-performance manager of the federation today in lagos.

Mangongo’s appointment will officially commence on july 1, 2026, under a three-year contract aimed at strengthening nigeria’s cricket development structure and enhancing the country’s competitive performance on the international stage.

An accomplished and highly respected cricket professional, magongo is an icc level 3 certified coach with extensive coaching and player development experience across different levels of the game.

Over the years, he has successfully coached zimbabwe’s u-15, u-19, zimbabwe a team, and the zimbabwe national men’s team, contributing significantly to talent development

at the Charlton Athletic Stadium (The Valley) in London last night.

The Super Eagles will face the winners of today’s second semifinal between Jamaica and India in Saturday’s final at the same venue.

Nigeria defeated Jamaica to win the trophy last year.

The exciting Millwall winger who is on the shopping list of several Premier League clubs after a sterling showing

in the Championship, announced his arrival in the Super Eagles on a refreshing note.

He was set up for the first goal by by stand in Captain Terem Moffi.

Azeez fired home from the top of the box barely five minutes into the game.

Eagles continued playing with a lot of confidence and zest, stringing passes between themselves with goal scorer Azeez, Enugu Rangers full backs Obinna Igboke and Chibueze Oputa, Chibuike Nwaiwu, Philip

Otele on the left flank catching the eye.

There were a few moments of brilliance from the Zimbabwe Warriors but they lacked finishing despite fielding several of their top stars including captain Marvelous Nakamba and Marshal Munetsi.

On the dot of 45 minutes, the Zimbabwe goalkeeper, Future Sibanda, pulled off another save for both teams to go into the dressing room with the Eagles a goal ahead.

The left-footed right winger Azeez who made 17 goals contributions

in 35 Championship matches for Millwall to reach the promotion playoffs, doubled Nigeria’s lead on 63 minutes.

It was the same Moffi who darted down the left flank before he cut back for Azeez to finish off a fine team play from inside the box.

The win by the experimental Eagles was a heartwarming result for Coach Eric Chelle who is looking for fresh legs to beef up the senior Nigerian team ahead of the 2027 AFCON qualifiers beginning in September.

and high-performance cricket systems.

The president of the nigeria cricket federation, uyi akpata, described the appointment as a strategic step towards consolidating the federation’s vision of building a sustainable cricket structure capable of producing world-class players and competitive national teams.

The president emphasized that nigeria cricket must continue to go the way of professionalism and excellence if we are to compete with the best teams across the world.

Mangongo who will have the opportunity to watch and meet with the best players in nigeria during the ongoing nigeria super league in lagos, will be officially unveiled and presented before stakeholders this afternoon (wednesday 27th may 2026) at the tafawa balewa square cricket oval.

Eagles players celebrating Femi Azeez (second right) after the Millwall winger scored the two goals in Nigeria’s 2-0 Buruj Sports Academy Super defeat of Zimbabwe’s Warriors in the Unity Cup semi final in London ...on Tuesday night Unveils Ambitious Stadium Project in Ikorodu What began as a bold grassroots football vision in Ikorodu is now rapidly transforming into one of the most ambitious youth football projects in Nigeria.

Buruj Sports Academy has officially unveiled plans for a state-of-the-art football stadium complex after securing six acres of land in Ikorodu, Lagos State — a development many believe could redefine grassroots football development in Nigeria.

The proposed project includes a standard football pitch, modern athletics track, 5,000-capacity pavilion, dressing rooms, players’ tunnel, referees’ section, parking space, and world-class training environment designed to nurture the next generation of football stars.

For the management of Buruj Sports Academy, this is more than just infrastructure — it is the reward for years of relentless work producing elite young talents now making headlines both locally and internationally.

The academy’s growing reputation

has been powered by remarkable achievements from its players, including former Nigeria Under-15 internationals Fawaz Ayomide Adeleke and Raheem Moyinoluwa Salaudeen, who have reunited at Buruj Football Club ahead of the 2026 Nationwide League One season.

Raheem, the team captain and forward, alongside attacking midfielder Fawaz Adeleke, previously represented Nigeria at international tournaments in Morocco in 2024 and Algeria in 2025, where they formed a dangerous partnership admired by youth football observers.

Fawaz further announced himself on the continental stage during the 2025 School Games in Burkina Faso, scoring the winning goal against Benin Republic to hand Nigeria a memorable victory.

Their return to Buruj is viewed as a major statement of intent as the academy pushes toward national prominence.

UN: Football Unites People Across Borders, Cultures Michael Olugbode in Abuja

The United Nations has described football as more than just a game, saying it serves as a universal language that unites people across borders, cultures and communities.

Speaking during the observance of World Football Day held at the Astro Turf in Wuse, Abuja, the National Information Officer and Officer-in-Charge of the United Nations Information Centre, Oluseyi Soremekun, said football continues to inspire teamwork, resilience and a shared sense of purpose, values that align closely with the mission of the United Nations.

Addressing participants at the event, which featured a football match and fitness activities, Soremekun noted that the programme symbolised

both movement and momentum in advancing global development goals.

According to him, movement reflects the promotion of health and well-being, while momentum represents collective efforts toward achieving the Sustainable Development Goals (SDGs).

He explained that World Football Day recognises the global reach of football and its contributions to peace, diplomacy and international

cooperation, adding that the sport provides opportunities for collaboration on climate action, education, health, inclusion and gender equality.

Soremekun also highlighted the United Nations’ Football for the Goals (FFTG) initiative, describing it as a platform that uses the global popularity of football to advance sustainability, equality, human rights and climate action.

Quoting the UN Deputy SecretaryGeneral, Amina Mohammed, he said: “The United Nations recognises the powerful voice football carries in the global community and the role it can play in raising awareness of the SDGs through the popularity of the game.”

He further disclosed that the UN recently unveiled 16 football legends as FFTG Champions, including Nigerian football icon Daniel Amokachi.

UEFA Conference League Final Live on SuperSport Tonight Crystal Palace and Rayo Vallecano will battle for history this Wednesday night when they meet in the UEFA Conference League final in Leipzig, Germany, with a European trophy and a place in next season’s UEFA Europa League

at stake. The game will air live on SuperSport via DStv and GOtv with Open View Access.

For Palace, the final offers a chance to win the club’s first European title and end a difficult season on a high. The Eagles finished 15th

in the Premier League after an inconsistent campaign, but their European run has been a major bright spot, with Oliver Glasner’s side reaching the final as one of the competition’s most productive attacking teams.

Giants of Africa Unveils 50th Basketball Court at King’s College, Lagos Giants of Africa, a non-profit organisation co-founded by Dallas Mavericks President, Masai Ujiri, has inaugurated its 50th community basketball court in Africa, reaching the halfway mark of an ambitious pledge to build 100 courts across the continent.

The milestone launch of the 50th basketball court under the Giants of Africa (GOA) “Built Within” initiative was celebrated in grand style on Monday, May 25th at the historic premises of the King’s College, Lagos, as basketball, music and entertainment combined to deliver a memorable experience for pupils, parents and

members of the community.

The newly completed modern basketball facility, situated within the school grounds on Lagos Island, forms a part of GOA’s ambitious target of constructing 100 courts across Africa to promote youth development through sports.

The court was built by Webber Engineering, whose Chief Executive Officer, Babalola, is a former basketball player turned sports entrepreneur.

Speaking during the unveiling ceremony, Masai Ujiri, co-founder of Giants of Africa and President and Alternate Governor of the Dallas

Mavericks, described the occasion as a moment of fulfilment in the organisation’s journey to empower young Africans through basketball.

“It’s a thing of joy and fulfilment to have the 50th court in our mission of providing 100 courts around Africa,” Ujiri said.

“The Giants of Africa is also happy to have this court situated within this historic school, King’s College Lagos.

I remember when I was asked how fast we would get to 50; we got to 50 now. You know that’s part of the journey. Ten in Nigeria, hopefully we’ll go to other parts of Nigeria.

We are really excited about this.”

A group photograph of officials of Masai Ujiri’s Giants of Africa (GOA) and the 50 boys and girls from Kings College and Queens College that participated in the basketball clinic that followed the inauguration of GOA’s 50th basketball court at the premises of Kings College on Lagos Island...yesterday

THISDAY • WEDNESDAY, MAY 27, 2026

Price: N400

BACK PAGE LEAD PHOTOGRAPH

STANBIC IBTC ANNUAL GENERAL MEETING...

L-R: Stanbic IBTC Holdings Board members, Kunle Adedeji; Executive Director, Chuma Nwokocha; Chief Executive, Sola David-Borha; Chairman, Chidi Okezie; Company Secretary; Nkemdilim Uwaje-Begho; and Non-Executive Director; Ballama Manu during the company’s 14th Annual General Meeting held recently in Lagos….recently

FEMIFALANA Judges, Lawyers and 2027 Election GUEST COLUMNIST

L

ast Wednesday, the Federal High Court invalidated the timeline issued by the Independent National Electoral Commission (INEC) for the conduct of primaries and the nomination of candidates, ahead of the 2027 general election. In a judgment delivered by Justice Mohammed Umar, the Court also set aside the INEC’s May 10 deadline requiring political parties to submit a register and database of all their members as a condition for qualifying to participate in the general elections.

It held that the time frame the electoral umpire announced for political parties to conduct their primaries and to submit, withdraw, or replace the names and particulars of their candidates for the general elections “is inconsistent with the provisions of the Electoral Act, 2026.” The case was filed against INEC by the Youth Party.

Yesterday, the Independent National Electoral Commission (INEC) appealed against the Federal High Court’s judgement which nullified its revised timetable and schedule of activities for the conduct of the 2027 general elections. INEC also filed a motion for stay of execution of the judgement, pending the

Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun hearing and determination of its appeal at the Court of Appeal.

Today, the Federal High Court affirmed that the

RICHARDIKIEBE

Independent National Electoral Commission (INEC) has the legal authority to fix timelines within which political parties must conduct their primaries ahead of the 2027 general elections. In the judgment, the court held that INEC is empowered under the Constitution and the Electoral Act 2026 to issue election timetables that include deadlines for political party primaries and related preparatory activities.

Justice J.K. Omotosho who delivered the judgment declared that Election Timetable is a chain of events or actions which include submission of membership register of political parties to be used for the purpose of primaries and fix timeframes within which political parties are to organize their primary Elections for the purpose of the stated 2027 Election”. The case was filed by the Social Democratic Party against INEC. The judgments of the both courts of coordinate jurisdiction has caused unnecessary confusion in the polity. While Justice Muhammed Umar of the Federal High Court has limited INEC’s powers by barring it from imposing deadlines that conflict with statutory provisions, Justice A. K. Omotosho of the same Court has affirmed INEC’s authority to issue timetable that includes timelines for party primaries.

INEC has been empowered to choose and pick which of the judgments to complied with.

The National Judicial Council had repeatedly cautioned Judges to desist from issuing conflicting orders whilst lawyers have equally been warned by the Nigerian Bar Association to stop filing cases that are programmed to cause Judges to issue conflicting orders. In the instant case, Justice Omotosho ought to have allowed the Court of Appeal to determine the validity of the judgment of Justice Muhammed Umar instead of issuing conflicting orders.

The National Judicial Council and the Nigerian Bar Association should speedily investigate the circumstances surrounding the issuance of conflicting orders in the cases of Youth Party v INEC and Social Democratic Party v INEC. Unless the Judges and lawyers involved in the legal charade are called to order, the 2027 election may be sabotaged by Judges and lawyers as was the case in 1993 when the Ibrahim Babangida military junta anchored the annulment of the results of the June 12 presidential election on conflicting orders of Nigerian courts.

•Femi Falana SAN

GUEST COLUMNIST

Nigerian Elite and the Death of Democratic Promise

B

ritish voters have delivered a massive jolt to their political establishment.

The latest local council elections saw the demolition of the two old parties that have governed Britain for over a century, with voters migrating in significant numbers toward insurgent alternatives. The crisis is still unfolding.

It is messy and deeply humbling, particularly for the Labour Party leaders. But it is also democracy doing precisely what it is designed to do by forcing a tired political elite to reckon with its own obsolescence. Britain’s political turbulence, for all its drama, is a system renewing itself.

The institutions are absorbing the shock. And somewhere in that churn, an emerging governing class is being tested and shaped.

In contrast, the urgent question Nigeria has avoided for too long is this: does the country have any mechanism, any at all, for the peaceful and

President Bola Tinubu organic replacement of a governing elite whose time has passed? The honest answer is no, and

the consequences of that absence now define the country’s unsightly political condition.

Nigeria has repeatedly tried to clean its stables before, but the efforts often ended badly. In 1976, Generals Murtala Mohammed and Olusegun Obasanjo arrived with brooms, declaring war on the entrenched bureaucratic class. The “super permanent secretaries” (men who had quietly become the real power behind government), were swept out in a flurry of dismissals. The system shuddered, but did not transform. New occupants settled in and invented worse arrangements.

General Muhammadu Buhari, in 1983, took a blunter approach. His target was the political class itself, particularly those he found too loud, too Southern, or too powerful. Many of them ended up behind bars and were largely forgotten there.

The military regime called it discipline; history has been less generous.

General Sani Abacha dispensed with even that

pretence. He burned the ladder he had climbed, jailed Obasanjo, his former Chief of Staff, General Shehu Musa Yar’adua, and business mogul MKO Abiola, with the last two dying in custody. Abacha was also accused of sending killer squads after some of those he could not cage. The rest of Nigeria’s political class went quiet, licking its wounds and calculating the cost of visibility.

When Obasanjo returned in 1999 as an elected civilian president, he purged the (political) military class from office. It was, arguably, the most institutionally coherent of the transitions.

His purge built nothing, but cleared the ground without planting.

A common mistake of the previous experiments was the belief that replacing people is the same thing as renewing a system. Vilfredo Pareto, the Italian sociologist, who spent decades studying Continued on page 38

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