WEDNESDAY 4TH NOVEMBER 2026 by THISDAY Newspapers Ltd

Obi Warns Governors Against Rigging, Says Nigerians Will Resist Sunday Aborisade in Abuja The Peter Obi Media Office, has warned governors against alleged attempts to manipulate the 2027

general election, declaring that Nigerians would resist any process that undermines the credibility of the polls. The media office, which accused

some governors of allegedly working behind the scenes to compromise the democratic process, said political leaders should focus on presenting their records of performance rather

than seeking to retain power through electoral manipulation. It maintained that any electoral process that failed to meet the standards of freedom, fairness and transparency

would be rejected by Nigerians, who, it said, were determined to exercise their democratic rights. In a statement by its spokesman, Indris Zekeri Jnr, the Peter Obi Media

Office, said, governors should recognise that political leadership was a privilege earned through Continued on page 9

National Assembly Commences Process to Finally Transmit State Police Bill to Tinubu... Page 35 Wednesday 4 November, 2026 Vol 31. No 11532. Price: N400

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Atiku: DSS Recruiting Thugs to Obstruct ADC Campaigns in Sokoto; DSS Replies, Orders Probe into Allegation access to public facilities Ex-VP vows to address a rally in the state today, PDP states chairmen petition IG opposition for rallies and campaigns. He vowed that irrespective of the

Chuks Okocha in Abuja and Onuminya Innocent in Sokoto

The presidential candidate of African Democratic Congress (ADC), Atiku Abubakar, has

accused the leadership of the Department of State Services (DSS) of recruiting thugs to disrupt his

party’s campaigns in Sokoto State. Atiku also decried violence and political intimidation of

ADC members in the state by the state government, as well as the government’s refusal to grant the

actions of the security agencies and Continued on page 9

Adesina, Sanusi, Peterside, Oteh on Fiscal Policy: Growth Must Improve Living Standards Sanusi says GDP growth alone could conceal deteriorating economic conditions Atedo Peterside: Reforms working for the rich, warns 140 million poor Nigerians lack adequate safety nets Oteh says domestic capital mobilisation key to long-term development Adesina: Africa’s youth key to economic transformation if supported Tijani: knowledge, technology will determine long-term prosperity

Story on page 9

ONABANJO-KUKU GETS HONORARY FELLOWSHIP...

L-R: Chief Executive Oﬃcer, Nigerian Economic Summit Group (NESG), Dr. Tayo Aduloju; MD/Chief Executive, Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Onabanjo-Kuku; Governor of Lagos State, Mr. Babajide Sanwo-Olu; and President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, during the organisation’s investiture, as Mrs. Onabanjo-Kuku received her Honorary Fellowship in Lagos at the weekend

WEDNESDAY, NOVEMBER 4 t T H I S D AY

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

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

NEWS

SIGNING OF A $30 MILLION SENIOR CREDIT FACILITY TO ACCELERATE RENEWABLE ENERGY ADOPTION...

L-R: Regional Director for Nigeria, Proparco, Mr. Xavier Echsseriau; Chief Executive Oﬃcer of the French Development Agency (AFD), Mr. Christophe Lecourtier; Group Head, Renewable Energy and Sustainability Finance, Sterling Bank, Mr. Seyi Okunuga; Managing Director/Chief Executive Oﬃcer, Sterling Bank, Mr. Abubakar Suleiman; and Group Head, DFI Funding, Project Finance and Advisory, Sterling Bank, Mr. Olasunkanmi Abioye, during the signing of a $30 million senior credit facility to accelerate renewable energy adoption and support small and medium-sized enterprises (SMEs) across Nigeria’s agricultural value chain, in Lagos... recently

MAN: Cut-throat Interest Rates Threat to Nigeria’s Industrial Transformation Says Disco that fails to meet 20-hour obligation under ‘Band A’ should be sanctioned Dike Onwuamaeze President of Manufacturers Association of Nigeria (MAN), Dr. Ifeanyi Okoye, yesterday, stressed that manufacturers “cannot finance 21st-century industrial transitions with 30-day commercial bank loans at cut-throat interest rates”. Okoye also said manufacturers were looking forward to a time when power distribution companies (Discos) that failed to meet 20-hour supply obligation to “Band A” customers would be sanctioned or made to pay compensation to the affected customers. He spoke yesterday in Lagos during the Second Edition of the Manufacturers Energy Security and Energy Efficiency Summit 2026. Okoye explained, “Transforming a factory’s energy infrastructure requires capital. We cannot finance 21st-century industrial transitions with 30-day commercial bank loans at cut-throat interest rates. “Therefore, a core pillar of this summit is unlocking structured financing. “We are bringing financial institutions, climate funds, and green investors directly into the room. They are here to design long-tenured, low-interest capital instruments, carbon credit pathways, and asset-financing mechanisms that make green transitions instantly accretive to your bottom line.” Okoye said MAN had consistently drawn the attention of government and relevant stakeholders in the energy

space to the fact that energy is the oxygen of manufacturing. “Yet, for decades, Nigerian manufacturers have been starved of this vital oxygen,” he said. The MAN president stated, “High electricity tariffs, erratic grid supply, and a heavy reliance on fossil fuels have made industrial production in Nigeria exceptionally difficult. “When energy expenses claim nearly half of a factory’s operating budget, competitiveness evaporates, retail prices skyrocket, and jobs are placed on the line.” He added, “Our members, for sure, are resilient; we have proven this by keeping factories open against all odds. “But resilience should not be a virtue, and should have its limits. “When public electricity distribution networks—even under the current Band A framework- fail to deliver the guaranteed hours of power, and when alternative fuels drain billions from corporate balance sheets, survival requires a radical transformation of our energy architecture.” Okoye said that was the reason for the summit, stressing that MAN is stepping forward with concrete, actionable solutions. According to him, MAN is pleased to spotlight its strategic implementation vehicle, which is the Manufacturers Power Development Company Limited (MPDCL), working hand-in-hand with its esteemed international partners, GIZ

and the Nigerian Energy Support Programme (NESP). He stated, “Together, MPDCL and GIZ-NESP are bridging the gap between industrial energy demands and modern technical realities. “They are bringing forward innovative, cost-effective energy solutions tailored to unburden manufacturers once and for all. “Today, we are moving beyond

advocacy into implementation. We are officially unveiling and advancing the Industrial Energy Cost Reduction and Adoption Programme.” Okoye explained that the flagship initiative was designed to hand power back to the manufacturer — literally and figuratively, “through aggressive factory-roof solarisation, advanced battery energy storage systems (BESS), captive natural gas options, and smart

energy management networks. “We are poised to cutting down factory overheads and shielding our businesses from global fuel shocks,” he said. In her keynote address, titled, “Listen to The Manufacturer First: From Energy Pain to Proof of Concept,” Chairman, Anambra, Enugu and Ebonyi Branch, MAN, Dr. Adaora Chukwudozie, said manufacturers were constrained to

effectively running a second power system, paid for by themselves, beside a grid they also paid for. Chukwudozie stated, “Our generators may be the only employees who never ask for leave — but they also never stop asking for diesel. And the joke ends at the balance sheet. “For manufacturers, energy is no longer simply an operational issue. It is a competitiveness issue.”

Airtel Africa Records 193.9m Customers, 28% Data Revenue Growth in H1 2026

Emma Okonji

Airtel Africa, which has presence in 14 African coun-tries, Nigeria inclusive, yesterday, released its half year financial result for the period ended September 30, 2026, which showed records of 193.9 million custom-ers and 28 per cent data revenue growth in the period under review. According to the financial report, the telecoms com-pany’s total customer base continues to grow at 11.6 per cent, reaching 193.9 million customers, with a 15 per cent growth in its data customer base to 89.9 mil-lion. The report added that demand for mobile money ser-vices remained strong, with mobile money customers increasing by 22.4 per cent to 60.9 million.

It stated, “The mobile services business continued to grow at almost 19 per cent in constant currency as da-ta revenue growth of 28 per cent continues to under-pin growth. Mobile money revenue growth in constant currency remained stable at 25.8 per cent. “Continued execution against strategic priorities, alongside sustained investment, drove strong trends across all our regions.” The company stated in the financial report that in-crease in smartphone penetration to 51.6 per cent continued to drive the demand for data services, re-sulting in higher smartphone data usage per customer of 13.3 GB, up from 10.1 GB in the prior period. The in-crease in data usage per customer, together with con-tinued improvements in the customer experience, drove constant

currency 1 data ARPU growth of 10.7 per cent, demonstrating ability to effectively monetise growing data demand. Giving details of the trading update in the period under review, Chief Executive Officer of Airtel Africa, Sunil Taldar, said, “The recent IPO of Airtel Money represents a significant milestone for the Group. We retained our shareholding through the IPO and remain a long-term strategic shareholder, with significant exposure to Airtel Money’s future growth and value creation. “Over the first half, we have delivered another strong operating and financial performance, reflecting the depth of underlying demand across our markets and consistent execution of our strategy, with total customer growth remaining strong and stable at 11.6 per cent.”

Taldar added, “The investment case remains as com-pelling as ever, supported by favourable demographic and economic trends, strong demand for data and financial services, and smartphones on our network in-creasing to over 100 million, with substantial head-room for further adoption.” However, Taldar said rising fuel costs continued to exert inflationary pressure on the cost base. He said, “We delivered a record underlying EBITDA margin of 50.4 per cent in Q2’27 through a combination of operational discipline, ongoing cost efficiency programmes and continued scale benefits. Looking ahead, margin performance will continue to be influenced by the macroeconomic environment, including its impact on fuel costs.

CHOGM: Akume Urges Stronger Ties, Says Caribbean Is Family, Not Just Market Unveils new Africa-Caribbean health, trade corridor Adedayo Adejobi The Secretary to the Government of the Federation, Senator George Akume, has declared that Nigeria views the Caribbean as family, not just a market, as both regions move to build a new bi-directional corridor for healthcare manufacturing, trade, and skills transfer across the Atlantic. Akume stated this in Antigua during

a Fireside Chat at the Commonwealth Business Forum on the sidelines of the Commonwealth Heads Of Government Meeting (GHOGM) 2026, alongside Barbados Prime Minister, Mia Amor Mottley and the World Trade Organisation’s (WTO), Director-General, Dr. Ngozi Okonjo-Iweala. “When we speak of Africa and the Caribbean, we are speaking of a shared history, a shared heritage and,

above all, a shared people. “Many Barbadian families trace their ancestry to the lands that are now Nigeria. Prime Minister Mottley herself has spoken of her Nigerian roots,” Akume said. “The African Union recognises the diaspora as Africa’s sixth region. For Nigeria, therefore, the Caribbean is not simply another market or another partner. The Caribbean is family,” he

declared. The SGF said the historic bond must now be given an economic future built on South-South cooperation that delivers tangible benefits for both peoples. “For too long, countries across the Global South have depended on others for essential medicines and medical supplies. We must have a greater role in developing the solutions to

these challenges. We must be able to produce more of the medicines our people need, and ensure that those medicines are safe, effective and accessible,” he said. “This is what South-South cooperation should mean in practice: recognising the strengths we already possess and bringing them together for our mutual benefit.” Akume also noted that under President Bola Ahmed Tinubu’s Renewed Hope Agenda, Nigeria

has made healthcare manufacturing a national priority through the Presidential Initiative for Unlocking the Healthcare Value Chain. “We recognise that our manufacturers must also look beyond Nigeria’s borders if they are to grow and compete. The Caribbean offers an opportunity to deepen our historic relationship while building new economic connections across the Atlantic and into the Americas,” he noted.

WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

NEWS

2026 UUBO REGULATORS’ MASTERCLASS...

L-R: Managing Partner, Udo Udoma & Belo-Osagie, Jumoke Lambo; Counsel, Udo Udoma & Belo-Osagie, Dan Agbor; CEO, Chartered Institute of Bankers of Nigeria, Akin Morakinyo; and Partner, Udo Udoma & Belo-Osagie, Adeola Sunmola, at the 2026 UUBO Regulators’ Masterclass held in Lagos...recently

In a Milestone, Enugu Raked N355bn IGR from Non-tax Sources in 2025 Mbah attributes revenue surge to asset recovery, technology, crackdown on leakages as state records lowest tax-to-IGR ratio James Emejo in Abuja Enugu State generated about 87 per cent of its N406.7 billion Internally Generated Revenue (IGR) in 2025 from non-tax sources, recording the lowest tax revenue-to-IGR ratio among states and the Federal Capital Territory (FCT). Data published by StatiSense on its verified X handle, and quoting the National Bureau of Statistics (NBS), showed that tax revenue accounted for only N51.52 billion, or 12.67 per cent, of the state’s total IGR of N406.7 billion during the year. The figures highlight the extent to which Enugu’s revenue expansion has relied on sources outside conventional taxation, amid Governor Peter Mbah’s insistence that his administration’s fiscal reforms and mobilisation of

dormant public assets, rather than increased tax rates, are driving the state’s rising earnings. The development comes after the NBS ranked Enugu among the leading states in IGR growth, behind only Lagos and Rivers, reinforcing the state’s position as one of the stronger performers in subnational revenue generation. While Enugu recorded the lowest tax contribution to IGR, Abia State topped the tax-dependence ranking, with taxes accounting for 100 per cent of its N70.41 billion revenue. The FCT also recorded a 100 per cent tax-to-IGR ratio, with its N356.34 billion IGR entirely attributed to tax revenue in the figures cited. Bayelsa, Rivers and Sokoto followed with tax contributions of 99.39 per

cent, 96.72 per cent and 92.44 per cent, respectively. Other states with relatively low tax dependence included Kwara, where taxes represented 38.42 per cent of IGR; Katsina, 39.93 per cent; Osun, 41.53 per cent; and Ogun, 44.10 per cent.

Mbah cites asset recovery, revenue reforms Speaking at a recent town hall meeting in Enugu, Mbah rejected claims that his administration had increased the tax burden on residents, arguing that the perception was being fuelled by political opponents and interests affected by changes to the state’s revenue collection system. He attributed the growth in IGR to the introduction of technology to

curb revenue leakages, the elimination of cash collections on behalf of the state government, and the recovery and commercialisation of previously underperforming public assets. According to the governor, the administration had expanded the state’s revenue base by restoring dormant assets to productive use and developing new revenue-generating ventures. Among the facilities he cited were Hotel Presidential, Enugu United Palm Products Limited, Nigergas, Nike Lake and the International Conference Centre, which he said had been recovered, completed, rehabilitated or repositioned to generate income. Mbah also identified Enugu Air as part of the state’s emerging revenuegenerating assets, noting that the administration’s strategy was focused

House Probes N10bn Ebola Emergency Fund, Questions States’ Readiness Adedayo Akinwale in Abuja The House of Representatives has declared that it would investigate the management of emergency health funds, inter-agency coordination, and the preparedness of state governments following the confirmation of an imported case of Ebola Virus Disease (EVD) in Nigeria. Speaker, Hon. Tajudeen Abbas, stated this on Tuesday in Abuja at a one-day public hearing on the Ebola outbreak, organised by the joint Committees on Infectious Diseases, Healthcare Services, Aviation and Interior. Abbas, who was represented by Hon. Billy Osawaru, said the Green Chamber would scrutinise inter-agency

coordination and whether emergency funds were released promptly and spent transparently. He stated the recent Ebola outbreak in parts of Africa and the imported case in Nigeria had underscored the need to strengthen the country’s public health security architecture, saying public health security is inseparable from national security. While commending the federal government’s response through the activation of emergency mechanisms, heightened surveillance, contact tracing, establishment of a presidential task force, and approval of emergency funding, the speaker warned against complacency. He recalled that the 2014 Ebola

experience proved that early detection and effective coordination determined whether an outbreak would be contained or escalated. Abbas stated, “The fact that the confirmed imported case has been evacuated and no onward transmission has been established should strengthen our resolve to prevent a recurrence, rather than diminish our sense of urgency. “The hearing will assess whether surveillance systems can detect threats early, whether laboratories and isolation centres are equipped, whether health workers have adequate training and protective gear, and whether airports and border communities are adequately covered by screening.

“Disease containment cannot be the responsibility of the federal government alone. It requires a coordinated national response in which every tier of government understands its obligations and possesses the capacity to fulfil them.” The speaker urged accurate public communication to check misinformation, stressing that there are currently no active Ebola cases in the country and the hearing is not meant to cause panic. Earlier, Chairman of the Joint Committee, Hon. Amobi Ogah, said the October outbreak reports generated widespread anxiety among Nigerians, prompting enquiries from constituents and lawmakers.

on expanding the state’s economic base rather than placing additional levies on residents and businesses. The governor said, “This is one falsehood that has been so peddled that it’s even beginning to take a semblance of a truth,” dismissing allegations of overtaxation. Mbah said the scale of IGR growth had prompted some critics to assume that residents must have been subjected to higher taxes to account for the increase. “But that’s far from the truth,” he added. The governor further explained that his administration had prioritised the closure of revenue leakages and the activation of assets that previously contributed little or nothing to the state’s finances. “First of all, we plugged all the leakages. We ensured that nobody makes payments in cash on behalf of the state government,” he said. He added that the government had also consolidated charges for certain services to reduce multiple collections and ease the burden on residents and businesses.

Governor disputes claims of higher taxes Mbah maintained that the state had not increased tax rates, but had widened the tax net to capture individuals and businesses previously outside the formal revenue system. He pointed out that bringing more eligible taxpayers into the system, alongside improved compliance and the recovery of public assets, had strengthened the state’s finances. He also contended that states could not independently alter rates for taxes governed by federal legislation, citing levies such as Personal Income Tax, Company Income Tax, Value Added

Tax and Withholding Tax. Mbah further said some payments for government services were routinely mistaken for taxes, including charges relating to Certificates of Occupancy (C-of-O) and waste disposal services provided by the Enugu State Waste Management Authority (ESWAMA). According to him, the administration had consolidated several service charges, citing an annual payment of N36,000 for businesses covering business premises and other rates and services. That translates to N100 per day. The governor also said he had directed the cessation of informal collections from traders in markets, following complaints that market women were being asked to pay N100 or N200. “I made an announcement to stop that; that nobody should collect N100 or N200 from our market women,” he said.

Non-tax revenue could reshape state ﬁnances The NBS-attributed figures suggest that Enugu’s revenue model differs significantly from those of states whose IGR is overwhelmingly tax-driven. With only 12.67 per cent of its IGR coming from taxes, the state’s revenue performance depends substantially on its ability to sustain earnings from non-tax sources, including public assets, service charges and other revenue-generating activities. The strategy could provide the government with additional avenues for financing infrastructure and public services without relying exclusively on tax collections. Its long-term sustainability, however, will depend on the commercial performance of the assets, the consistency of their returns and the government’s capacity to maintain them.

How OGFTZ Road Projects Created 35,000 Jobs in Ogun Communities James Sowole in Abeokuta The Ogun–Guangdong Free Trade Zone (OGFTZ) has linked its infrastructure investments in host communities to increased commercial activities and employment opportunities, with more than 35,000 direct and indirect workers engaged across its operations and supporting businesses. Chairman, OGFTZ, Halfsat Odunwole

Tafawa-Balewa, said the Zone, which has more than 100 registered enterprises, has an estimated workforce of 10,000 direct and 25,000 indirect workers, making it a significant source of employment and economic opportunities in Igbesa and neighbouring communities in Ado-Odo/ Ota Local Government Area. Tafawa-Balewa said a major infrastructure project supporting the industrial activities is the 10.25-kilometre

Oba Adesola–Igbesa Road, executed through a Public-Private Partnership between the Zone and the Ogun State Government. The project was complemented by an additional 4.5-kilometre road extension into the host community, as well as periodic rehabilitation of internal roads by the Zone under its Corporate Social Responsibility (CSR) initiatives. She said the improved road network

has facilitated the movement of people and goods, enhanced access to the industrial hub and encouraged the growth of businesses along the corridor. Beyond employment within the industrial facilities, the Zone’s activities have also supported businesses in transportation, retail, hospitality, logistics and property development, with improved road access creating opportunities for enterprises in surrounding communities.

Speaking on the impact of the development, the Oloja-Ekun of Igbesa, Abdul-Azeez Oluwatoyin Akinde, who spoke with journalists, said the construction of the Oba Adesola–Igbesa Road had significantly improved the economic fortunes of the community. The monarch who said road infrastructure was among the major developments he witnessed following his ascension to the throne five

years ago, described the project as a welcome intervention that had improved accessibility and encouraged business expansion in Igbesa. Akinde said the development had encouraged the establishment and expansion of commercial ventures, while attracting further government infrastructure investments to the area, including support for the Atan–Igbesa– Badagry Expressway.

WEDNESDAY, NOVEMBER 4 t T H I S D AY

WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

NEWS

15TH BAYELSA THANKSGIVING...

L-R: Former Bayelsa State Deputy Governors, Rear Admiral Gboribiogha John-Jonah (rtd) and Rt. Hon. Peremobowei Ebebi; President, Bayelsa Customary Court of Appeal, Justice Daniel Ayah; Deputy Speaker, Bayelsa House of Assembly, Rt. Hon. Michael Ogbere; wife of the Deputy Governor, Dr. Favour Akpe; Deputy Governor, Peter Akpe; Governor Douye Diri; his wives, Dr. Gloria Diri and Justice Patience Diri; and Senator representing Bayelsa East, Chief Benson Agadaga, during the 15th Bayelsa Thanksgiving at the Ecumenical Centre, Igbogene-Yenagoa, on Monday PHOTO: BAYELSA STATE GOVERNMENT HOUSE

NNPC’s Payments to Federation Hit N11.14trn in 9 Months, September Proﬁt Reaches N509bn Ojulari: How oil sector reforms raised Nigeria’s output by 600,000 bpd GCEO reiterates commitment to 2 million bpd target by 2027 Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Nigerian National Petroleum Company Limited (NNPC) paid N11.14 trillion to the federation as statutory payments from January to September 2026, and recorded a Profit After Tax (PAT) of N509 billion in September alone, the company’s monthly report summary for the month has shown. The report, released yesterday also showed that revenue for September stood at N4.608 trillion, with crude and condensate output at about 1.70 million barrels per day and natural gas production at 7.789 billion standard cubic feet per day (mmscf/d). Besides, a breakdown of the September output showed that crude production alone was 1.45 million barrels per day, while condensate was 240,000 barrels per day. Gas production rose from 6,997 mmscf/d in October 2025 to 7,789 mmscf/d in September 2026, after peaking at 7,841 mmscf/d in June. Gas sales for September were 4,793 mmscf/d, compared with 4,737 mmscf/d in August and 4,713 mmscf/d in October 2025. On crude oil and condensate sales, the report showed that the company sold 24.63 million barrels in September, made up of 23.64

million barrels of crude and 0.99 million barrels of condensate. This compares with 24.56 million barrels in August and 22.53 million barrels in July. The highest monthly sales in the period under review were 28.64 million barrels in October 2025, followed by 28.23 million barrels in June 2026. During the period under consideration, there was no major disruption to production as upstream pipeline availability stood at 100 per cent, while petrol availability at NNPC Retail Limited (NRL) stations was 54 per cent. On infrastructure, the report said the Obiafu-Obrikom-Oben (OB3) gas pipeline is 100 per cent complete, with the River Niger crossing commissioned and operationalised, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline is 95 per cent complete. Similarly, the company said it was working with stakeholders to speed up construction and pre-commissioning activities so that early gas can be delivered to Abuja in 2026. Meanwhile, the Group Chief Executive Officer of the NNPC, Mr. Bayo Ojulari, has said that reforms in Nigeria’s oil and gas sector have led to the addition of 600,000 barrels per day to national

output, raising production from about 1.2 million barrels per day to 1.8 million barrels per day. Ojulari, who spoke at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), attributed the growth to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions, and closer collaboration between NNPC and its partners. Held under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, the 2026 ADIPEC brought together more than 239,000 participants from over 170 countries, including ministers, chief executives, investors and technology leaders, to discuss energy security, investment

EY Nigeria is set to convene audit committee members, board directors, business leaders, regulators and other stakeholders on November 11, 2026, in Lagos to examine emerging corporate governance, financial reporting and risk management challenges at its Audit Committee Transformation Summit. The summit, themed ‘Shaping High-Performing Audit Committees’, will be held at The Civic Centre, Victoria Island, with discussions focused on strengthening oversight, improving regulatory compliance, promoting transparency and enhancing organisational resilience.

According to EY, the summit comes amid an increasingly complex business and regulatory environment, which has heightened expectations for effective corporate oversight, accountability and stakeholder confidence. The firm said the event would provide a platform for participants to examine the evolving responsibilities of audit committees, respond to emerging risks and regulatory developments, and strengthen their contributions to sustainable organisational performance. Commenting on the objectives of the summit through a statement yesterday, EY said, “This year’s Summit will provide an important

GCEO said the removal of the petrol subsidy has been accompanied by a major Compressed Natural Gas (CNG) programme, with over 400 CNG conversion centres established and more than 1,000 trucks that move petroleum products now running on CNG. He restated that the ObiafuObrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline is expected to deliver gas to Abuja before the end of the year for power generation, data centres and industrial hubs. Also, Ojulari said the NNPC board and management were working hard to meet the company’s projections as set out in the mandate given to it by President Bola Tinubu. He explained that a baseline

assessment of the company’s asset base and infrastructure has given management a full understanding of its portfolio, including its strengths and the areas requiring improvement. “Our track record will be judged by what is done and not by what is said,” he stated. On regional gas supply, the GCEO noted that all the countries involved in the Nigeria-Morocco Gas Pipeline have aligned and executed the necessary agreements, and that Nigeria, Algeria and Niger have agreed on the development of the Trans-Saharan Gas Pipeline. Ojulari stated that NNPC was targeting national gas production of 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030, supported by the development of domestic and export markets for Nigerian gas.

LAPO Founder: There Are Business Opportunities in Every Challenge Felix Omoh-Asun in Benin City There are business opportunities in every challenge in Nigeria currently, says Dr. Godwin Ehigiamusoe, founder of Lift Above Poverty Organisation (LAPO) Microfinance

EY Summit to Examine Emerging Risks, Strengthen Audit Committees Sunday Ehigiator

and supply. Speaking on: “Nigeria’s Reform Agenda: Competing for Energy Capital”, moderated by John Defterios, Ojulari said the company is now working towards the 2 million barrels per day output ambition by 2027. He said that this will be achieved by maintaining existing infrastructure, protecting base production, increasing output from producing assets, and advancing new projects scheduled to raise production. “The figure of 1.8 million barrels per day is a stage in a journey towards our objective. We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” Ojulari stated. On the domestic market, the

platform for sharing practical insights and perspectives on emerging risks, regulatory developments and leading governance practices. It will deepen understanding of evolving corporate governance, financial reporting and regulatory issues, while promoting meaningful dialogue and knowledge sharing among Audit Committee members, business leaders, regulators and other stakeholders.” The firm added that the summit would strengthen collaboration across the corporate governance ecosystem and reinforce the role of audit committees in promoting transparency, accountability and sustainable long-term value creation.

Bank. Ehigiamusoe who made the remarks in Benin on Tuesday during a conversation with young entrepreneurs and students, said challenges are opportunities which always propel intervention. In the conversation titled “From Ideas to Enterprise,” organised by DeeMoat Hub Books & Ideas, Dr. Ehigiamusoe urged young entrepreneurs to look beyond the surface, and find many opportunities presently in Nigeria. He therefore urged aspiring entrepreneurs to develop clarity of purpose, arguing that business opportunities often emerge from society’s most pressing challenges. “Every one of our problems is an opportunity,” he said, encouraging young people to look beyond the difficulties confronting the country and recognise the possibilities for enterprise development. He advised young Nigerians aspiring to become entrepreneurs against starting their businesses with borrowed money, warning that depending on loans at the early stages could undermine the survival of a new enterprise. He noted a prospective entrepre-

neur must first learn to mobilise personal resources and support from family and friends before considering borrowing to finance business expansion. Speaking on lessons from his book, “Twelve Commandments for Business Owners: A Guide to Business Success,” the microfinance pioneer stressed that while external funding was important for business growth, loans should not be the starting point for an inexperienced entrepreneur. “I advise anybody not to begin a business with loans. It is not right,” he declared. According to him, entrepreneurs should adopt a gradual approach to raising capital, beginning with their personal contributions, followed by support from family and friends, angel investors and, eventually, responsible borrowing. “You have to put something in it, no matter how small,” he said, recalling that LAPO started with just N300, which he contributed to support three women engaged in small-scale economic activities. He explained that entrepreneurs must demonstrate commitment to their ideas and convince potential supporters of both their character

and the viability of their businesses before seeking financial assistance. “Your own money may be enough to begin. It will not be enough to expand,” he said, adding that borrowing becomes more appropriate when a business has demonstrated its capacity to operate and generate returns. The LAPO founder identified self-knowledge as another critical requirement for entrepreneurial success, urging young people to understand their abilities before choosing a business. He introduced what he described as the TITE framework: Training, Interest, Temperament and Experience, explaining that aspiring entrepreneurs should assess these four factors against the demands of a business before venturing into it. He cautioned against choosing businesses simply because they appeared profitable or popular, noting that an individual’s natural disposition, interests and previous exposure could determine whether such a venture would succeed. “Who are you? And who you are is not about your name. It’s about what you have to relate to the business,” he said.

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FG Raises the Alarm Over Gambian Directive to Replace 57 Nigerian Bank Workers Commission seeks reversal of December deadline, warns against displacement of African professionals Michael Olugbode in Abuja Nigerians in Diaspora Commission (NiDCOM) has called on Central Bank of The Gambia to reverse a directive requiring banks operating in the country to replace non-Gambian employees with qualified Gambian nationals, warning that the policy could lead to the displacement of 57 Nigerian professionals. The directive, reportedly issued on September 16, 2026, gives banks until December 31, 2026 to replace their existing non-Gambian employees with Gambians, a development NiDCOM said had raised serious concerns about the welfare and employment rights of affected Nigerians.

Chairman/Chief Executive Officer of NiDCOM, Hon. Abike DabiriErewa, described the development as deeply worrisome, particularly as the affected Nigerian professionals reportedly possessed valid residency and work permits and had made significant contributions to The Gambia’s banking sector. In a statement issued in Abuja on Tuesday, the commission acknowledged The Gambia’s right to promote local employment and develop its workforce. But NiDCOM insisted that such policies must respect existing employment arrangements, legitimate work authorisations, and the principles of African solidarity and regional integration. NiDCOM said information

available to it indicated that 57 Nigerian professionals working in four Nigerian-origin banks operating in The Gambia could be affected by the directive. The commission also drew attention to the economic contributions of the four banks, which collectively account for approximately 37.2 per cent of total banking industry deposits, valued at 35.3 billion Gambian dalasi, and 32.6 per cent of loans, worth 7.67 billion dalasi. The banks also, reportedly, control 37 per cent of the industry’s total assets, valued at 44.78 billion dalasi, while accounting for about 34.5 per cent of investments in Central Bank bonds. More significantly, NiDCOM

said the four institutions, reportedly, contributed 90 per cent of the funding supporting the operations of the National Water and Electricity Company (NAWEC), highlighting their importance to the Gambian economy The commission expressed concern that a blanket employment replacement policy could undermine the contributions of African professionals and investors to host economies, particularly at a time when African countries are seeking to deepen economic cooperation and regional integration. It stated that encouraging African investment and the free movement of people, while implementing policies capable of indiscriminately displac-

ing qualified African professionals, could undermine the objectives of continental economic integration. NiDCOM urged Central Bank of The Gambia to immediately reconsider and reverse the directive, calling for consultations with the Nigerian High Commission in Banjul, the affected financial institutions, and other relevant stakeholders to achieve an equitable resolution. The commission also appealed to Gambian authorities to uphold the spirit of the Economic Community of West African States (ECOWAS) integration framework and the longstanding cordial relationship between Nigeria and The Gambia. It called for constructive diplomatic engagement to resolve the

Hon. Abike Dabiri-Erewa dispute without jeopardising the livelihoods of affected Nigerian professionals or the broader economic relationship between both countries.

ADESINA, SANUSI, PETERSIDE, OTEH ON FISCAL POLICY: GROWTH MUST IMPROVE LIVING STANDARDS Emmanuel Addeh, Michael Olugbode and James Emejo in Abuja

Prominent Nigerian business and economic leaders yesterday declared that current economic reforms and improving growth figures will amount to little unless they translate into higher household incomes, better living conditions, productive investments, and employment opportunities for millions of citizens. They made their interventions yesterday at the Oxford Global Think Tank Leadership Conference, themed, “Leadership for a Prosperous Future.” Their perspectives converged on the need for a more inclusive growth model anchored on strong institutions, private sector investment, technological advancement, and human capital development. Speakers included Emir of Kano, Muhammadu Sanusi II; businessman and investment banker, Atedo Peterside; and former Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh. Others were former President of African Development Bank (AfDB), Dr. Akinwumi Adesina, as well as Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. They emphasised that the country’s

economic recovery must be measured beyond headline Gross Domestic Product (GDP) figures, stressing that persistent poverty, weak investment, inadequate infrastructure, and institutional deficiencies continue to undermine the benefits of reforms.

Sanusi: GDP Growth Alone Could Conceal Deteriorating Economic Conditions Sanusi, a former Governor of the Central Bank of Nigeria (CBN), cautioned against interpreting improvements in macroeconomic indicators as evidence that the economy was delivering prosperity to ordinary Nigerians. He acknowledged that the economy had recorded growth of about 4.5 per cent and that some key indicators had improved following recent policy adjustments. However, he questioned the quality and inclusiveness of the expansion, stating that GDP growth alone can conceal deteriorating economic conditions among households. Sanusi pointed to the decline in GDP per capita since 2023, influenced by economic growth failing to keep pace with population expansion and the effects of currency depreciation,

as an indication that aggregate economic performance did not necessarily translate into improved individual welfare. He maintained that the real measure of economic progress should be whether Nigerians could afford quality education, healthcare, adequate nutrition, and decent housing, while accessing employment and better income opportunities. The former CBN governor also cautioned against excessive dependence on portfolio investments, which he said could be volatile and driven largely by attractive short-term returns rather than long-term confidence in the productive economy. According to him, sustainable economic recovery requires more than subsidy removal and foreign exchange policy adjustments. He said the government must address structural weaknesses that constrained productivity and investment. Sanusi called for greater infrastructure investment, transparency, accountability, and reliable economic data to support policy formulation and implementation. He also warned that perceived imbalances in political appointments, particularly in sensitive national security

institutions, could undermine national cohesion, urging the government to demonstrate fairness and inclusiveness in managing the country’s diversity.

Peterside: Growth Needs to Average 10 Per Cent Annually, Reforms Beneﬁtting the Rich Only For his part, Peterside stressed that the country should be targeting annual economic growth of at least 10 per cent, rather than celebrating expansion of about four per cent, given the country’s population, employment requirements, and development deficits. He identified inadequate investment as a major obstacle to achieving the required growth, stating that Nigeria must substantially increase investment as a proportion of GDP to expand productive capacity and create enough jobs. The businessman blamed corruption, political patronage, regulatory harassment, and the absence of a level playing field for weakening investor confidence and discouraging businesses from expanding. He particularly criticised the treatment of small and medium-scale enterprises by some government regulators, alleging that arbitrary

ATIKU: DSS RECRUITING THUGS TO OBSTRUCT ADC CAMPAIGNS IN SOKOTO; DSS REPLIES, ORDERS PROBE INTO ALLEGATION the state government’s denial of access to public facilities, he would address a rally in Sokoto today. That was as Peoples Democratic Party (PDP) states chairmen petitioned the Inspector General of Police, Tunji Disu, over alleged intimidation and harassment by APC governors. In a similar vein, former governor of Sokoto State and senator for Sokoto South, Aminu Tambuwal, decried alleged political intimidation in the state and vowed to defend democratic rights and freedom of association. Meanwhile, DSS responded to Atiku, saying even though its Director-General has ordered a probe into the allegation of thugs recruitment, in reverence to him, some of its operatives deployed to the ADC governorship candidate in Sokoto State, Mannir Daniya, recently evacuated him to safety unhurt when he was attacked on October 31. Addressing a press conference yesterday in Abuja, the former vice president said, “I address you today with a heavy but resolute heart. What is unfolding in Sokoto is not ordinary political competition. “It is a calculated campaign to frustrate the African Democratic Congress, obstruct our campaign,

and deny Nigerians the freedom to choose. “Public facilities that should be available to every political party for legitimate campaign activities have been blocked. Logistical support has been withheld. “These are not harmless administrative delays. They are deliberate attempts to deny the ADC a level playing field.” Atiku said, “More disturbing still, the information available to us is that the leadership of the Department of State Services is recruiting people to stage protests in Sokoto. “The objective is to create disorder, give the APC-controlled state government a pretext to impose a curfew, and prevent our campaign take off from holding as scheduled. “We know where some of these protesters are assembled: an office behind Zenith Bank on Koko Road. Trucks are stationed there and dispatched to key points, including the roundabout. “These mobilised protesters are causing gridlock. Commuters are being threatened and, in some cases, beaten. Some of the protesters have moved away from the roundabout to find shade.” Atiku said, “This is not intelligence work. It is political

interference dressed in official uniform. Security agencies exist to protect Nigerians and uphold the law, not to recruit protesters or help a political party manufacture a crisis. “I call on every officer involved to stop immediately and return to the constitutional duty of impartial service.” Blaming the current administration for the breach of peace, Atiku said, “For three and a half years, the Tinubu administration has devoted too much energy to weakening credible opposition and too little to solving the problems facing Nigerians. “It has pursued a politics of absorption and intimidation, while drawing former opposition figures into the APC and narrowing the space for political competition. The aim is to reduce Nigeria to a one-party state in all but name. “The government is afraid of the people’s verdict. It has unleashed a crushing cost of living crisis and now appears determined to frustrate Nigerians’ democratic right to choose a different path. Food, transport, fuel, electricity and other essentials have become unaffordable for millions.” The former vice president stated, “Families are struggling to feed

their children, pay school fees, and keep their businesses alive. That is the record this government should be defending before the people, instead of trying to stop a rally.” On his plans for the country if elected president next year, Atiku declared, “I will make life affordable again. We will support local production, strengthen food production, create jobs and reduce the cost of doing business. “We will pursue a targeted production subsidy tied to fuel refined in Nigeria, so that support reaches consumers through measurable relief while also strengthening domestic industry. “Nigerians deserve policies that put food on the table, restore opportunity and make daily life manageable again.” Atiku said, “The APC has still not recovered from the abysmal failure of its last rally in Kaduna. “It should have taken that as a warning that Nigerians are withdrawing their confidence. Instead, it has chosen intimidation and obstruction. These are the last kicks of a dying horse. “The more this government tries to silence the people, the clearer it becomes that it has already lost Continued on page 37

demands and bureaucratic harassment are imposing additional costs on businesses already struggling with difficult operating conditions. Peterside also described abuses in public procurement as a major channel through which public resources intended for infrastructure and development were diverted, characterising the practice as “legalised theft”. He warned that inflated contracts and politically connected interests were undermining the effective deployment of public funds. Peterside said Nigeria could not attract the investment required for rapid economic expansion without confronting corruption and state capture. The investment banker stated that economic reforms must distribute their costs and benefits more equitably, warning against a situation where ordinary Nigerians bear the burden of adjustment while politically connected individuals remain insulated. In a separate appearance on ARISE Television’s Prime Time, Peterside expanded on the distributional consequences of the federal government’s economic policies, pointing out that the reforms under President Bola Tinubu are producing sharply different outcomes for wealthy Nigerians and low-income households. He said individuals with substantial investments in the stock market and other financial assets might have benefited from improved investment returns, while low-income workers and vulnerable households were finding it increasingly difficult to afford basic necessities. Peterside estimated that between 130 million and 140 million Nigerians were poor and becoming poorer. He said the government had failed to provide adequate social protection to cushion the effect of far-reaching economic adjustments. He said the perception that the reforms were working largely depended on the economic circumstances of those assessing them.

According to him, the wealthy could point to improved investment income and rising asset values as evidence of progress, while millions of low-income earners struggling to afford two meals daily are experiencing a different reality. He also used state-level poverty figures to illustrate the geographical dimensions of the crisis, stating that deprivation is particularly severe in the North-west and North-east, where poverty rates in every state exceed 50 per cent. Peterside said only 12 states and the Federal Capital Territory (FCT) had poverty rates below the 50 per cent threshold, in his assessment, with most of the states in that category concentrated in the South-west. He warned that policymakers, who largely operated between Abuja and Lagos, risked overlooking the severity of poverty in other parts of the country, urging the government to look beyond national averages when assessing the effect of its policies.

Oteh: Domestic Capital Mobilisation Key to Longterm Development Oteh stated that the challenge of capital mobilisation required a coordinated development strategy involving government, businesses, investors, financial institutions, and citizens, rather than isolated interventions by individual institutions. The convener of the conference and former director-general of SEC said Nigeria must mobilise domestic capital more effectively to finance long-term development. She stressed that the capital market could play a bigger role in expanding investment opportunities and distributing the benefits of economic growth. She advocated wider retail participation in the capital market, stating that ordinary Nigerians should have greater opportunities to invest in productive businesses and participate in wealth Continued on page 35

OBI WARNS GOVERNORS AGAINST RIGGING, SAYS NIGERIANS WILL RESIST RIGGING service and not an entitlement to be retained through deceit, intimidation or interference with elections. The statement, titled: “Nigerians Will Choose the Best Product in the Marketplace” accused some governors of becoming increasingly desperate as the 2027 general election approaches. “Instead of presenting their records of service, performance and achievements, they are turning to electoral manipulation and safeguards for rigging,” the statement alleged. It warned that attempts to undermine the democratic process would not permanently suppress the will of the electorate, insisting that Nigerians had become increasingly

determined to reject leaders they considered undeserving of another mandate. Part of the statement read: “The 2027 election will be a defining moment for our nation. Nigerians are resolved to reclaim their country through the power of their votes. “Let it be known that no degree of rigging, intimidation or political manoeuvring can permanently silence the will of the people.” The media office further argued that political leaders should be judged by their records and capacity to address the country’s challenges rather than their ability to deploy political influence to retain power.

WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

NEWS

SENATE RESOLUTION ON NIGERIA-CHINA BILATERAL AIR SERVICE AGREEMENT...

L-R: Chairman, Senate Committee on Army, Senator Abdulaziz Yar’Adua; Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru; President of the Senate, Senator Godswill Akpabio; Leader of the Senate, Senator Opeyemi Bamidele; Minority Leader of the Senate, Senator Abba Moro; and Chief Whip of the Senate, Senator Tahir Monguno, after considering a motion on the need to renegotiate the commercial terms and operational schedules of the existing the Nigeria-China Bilateral Air Service PHOTO: OFFICE OF THE LEADER OF THE SENATE Agreement at the Senate Chamber, National Assembly Complex, Abuja, yesterday

Dele Giwa’s Murder: IBB’s Excuses Untenable, Unacceptable, Unbelievable, Says Ray Ekpu Dike Onwuamaeze Chief Executive Officer of Newswatch Plus Limited, Mr. Ray Ekpu, has described former military president Ibrahim Babangida’s excuses for the failure of his regime to unravel the assassination of the founding Editorin-Chief of Newswatch Magazine, Late Dele Giwa, through a letter bomb as “untenable, unviable, unacceptable, unbelievable, inexcusable”. Ekpu raised the objection yesterday in an article titled, “Dele Giwa’s Assassination: More Questions Than Answers

(2),” which he said was an expanded version of the one he wrote when Babangida brought out his explanation. His reaction followed Babangida’s explanation in his autobiography, “A Journey in Service,” on why the investigation of Giwa’s assassination, which occurred on Sunday, October 19, 1986, was not concluded by his government. Ekpu wrote, “In any case, why would Babangida wait for 39 years before coming out to bandy this frivolous and puerile excuse for the failure of his government to bring to justice the

evil men who assassinated a man that showed enormous respect to him and fought strenuously for a better Nigeria? “If Babangida thought that Giwa’s death was being politicised by those who were opposed to his government’s policies, why did he not use his friendship with Giwa and the novel manner of the assassination as genuine excuses for bringing the matter to a conclusion?” Babangiga, according to Ekpu, blamed the inconclusive investigation on the politisation of Giwa’s death by those who were opposed to his military government’s policies.

According to Babangida, “The insinuation that the parcel may have come from the headquarters of the administration was cheap and foolish. “Why would an officially planned high-level assassination carry an apparent forwarding address of the killer? “Why would a government planned and executed crime point directly at the suspect? All this did not make sense to me.” However, Ekpu said it might not make sense to Babangida but it made sense to other people, “when we explained that Giwa had received

Shehu of Borno, Air Peace Chairman Congratulate Sultan of Sokoto on 20th Anniversary on Throne Shehu: You’ve sustained Dan Fodiyo’s legacy Chinedu Eze and Onuminya Innocent in Sokoto The Shehu of Borno, Alhaji Dr. Abubakar Ibn Umar Garbai Al-Amin El-Kanemi, has commended the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, for sustaining his forefathers’ legacy in reforming Islam in Nigeria and beyond. On his part, the Chairman of Air Peace Limited, Dr. Allen Onyema, has congratulated His Eminence, Alhaji Muhammadu Sa’ad Abubakar III, the Sultan of Sokoto, on the occasion of his 20th anniversary on the throne, describing his two decades of leadership as a remarkable testament to service, wisdom and commitment to national unity. Dr. Onyema, in his congratulatory message, commended the Sultan for his outstanding contributions to traditional leadership, religious harmony, peaceful coexistence and the promotion of national cohesion. He noted that over the past 20 years, His Eminence has distinguished himself as a respected voice of reason and a bridge-builder whose influence extends beyond the traditional institution and the Muslim community. Meanwhile, El-Kanemi, who was represented by the Emir of Lafia, His Royal Highness Justice Sidi Bage Muhammad (rtd), said since Abubakar ascended the throne 20 years ago, he has been a bridge through which Islam has thrived in Nigeria and beyond.

He made the commendation at the International Conference Centre, Sokoto, at the occasion of the 20th anniversary on the throne of Sultan Muhammad Sa’ad Abubakar and the Usman Bin Fodiyo Week 1448AH / 2026CE, organised by the Sultanate Council and the National Council of Muslim Youth Organisations (NACOMYO) in collaboration with the Sokoto State Government. El-Kanemi explained that the Jihad introduced by Usman Dan Fodiyo was not a war, but a reformation, stressing that the late Sheikh was a reformer, writer and teacher in his time. He maintained that the Borno Empire has had a long-standing relationship with the Sokoto Caliphate from time immemorial. He lauded Sultan Muhammad Sa’ad Abubakar for being an advocate of peace, standing between Muslims and Christians in the country. On his part, Sokoto State Governor, Dr. Ahmed Aliyu, represented by his Deputy, Engr. Muhammad Gobir, also lauded the Sultan for his peace advocacy. Aliyu noted that the state government is working hand in hand with the Sultanate Council to promote Islam in the state. He further explained that the government has renovated many mosques and built new ones as befitting places of worship. In his remarks, Sultan Muhammad Sa’ad Abubakar thanked those who came from far and near to witness

the event, saying he will not relent in preaching peace. A popular scholar from the United Kingdom, Dr. Daud A. Abdullah, Director of Middle East Monitor, United Kingdom, presented a paper themed: “How Religious and Intellectual Traditions of Sokoto Caliphate [Shaped] the Conditions of Africans in Diaspora.” Many dignitaries, including the presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, the Comptroller-General

of Nigeria Customs Service, Bashir Adewale Adeniyi, the Governor of Zamfara State, Dr. Dauda Lawal, and many emirs, witnessed the event. On his part, the Chairman of Air Peace Limited, Dr. Allen Onyema identified the Sultan’s consistent advocacy for peace, tolerance, mutual understanding and national unity, he said, has continued to inspire confidence in the capacity of Nigeria’s traditional and religious institutions to contribute meaningfully to nation-building.

letters from President Babangida which had the inscription ‘From the Office of the C-in-C’ and the address was always to ‘Chief Dele Giwa’ although Giwa was not a chief. “And written on the parcel was ‘To be opened by the addressee only.’” Ekpu stated that he had seen one letter addressed that way when Giwa asked him to join in drafting a speech for Babangida. He said the late Giwa wanted to draft a speech for Babangida that would make a statement on the return to democracy. He stated, “I joined him to draft the speech. So, anyone who sent the parcel bomb must have been familiar with how Babangida’s speeches or letters were dispatched to Giwa. “And to ensure that the envelope was opened only by the addressee it was important to state so. “That is why Kayode Soyinka who was in the study with him did not seek to open the parcel. “That mystery about writing the address of the sender is cleared. In any case, when the parcel exploded what was written was wiped off but Dele’s son, Billy, saw what was written on the parcel before giving it to his father. That is point number one.” He recalled that when Giwa was questioned by Col. A. K. Togun a couple of days before his assassination, they asked him four questions. “One of the questions was about Alozie Ogugbuaja, a policeman who had

a problem with the police authorities. The discussion about Ogugbuaja was on telephone between Dele and me. In 1986, only the federal government controlled telephones in Nigeria. “I discovered later that our phones were bugged by the government and I had to get a security expert to come and ‘sweep’ our residence. “Point number three: after Dele’s assassination Augustus Aikhomu, the number two man in the government, addressed the press on the issue but never allowed any questions to be asked on the matter or to be addressed to the suspects. “Why? Because he feared that those fingered may not be able to answer the questions convincingly. “Point number four: A day before Giwa’s assassination, Brigadier Halilu Akilu phoned Giwa’s wife, Funmi, and asked for the address of Giwa’s residence. “Funmi asked why he wanted the address. Akilu said he intended to stop there and see Giwa on his way to Kano. Did he stop there? No! Did he go to Kano that day? No! Did he visit the family any time after that? No! What a friend! “Point number five: In July 2001, Abubakar Tsav who investigated the case appeared at Oputa panel in Abuja. Tsav said he wanted permission to interrogate both Akilu and Col. A. K. Togun but he was not allowed to interview or question them.

PAAU Defends Fee Review, Says 4,032 Students Beneﬁt from NELFUND Ibrahim Oyewale in Lokoja The management of Prince Abubakar Audu University has defended the review of school fees in the institution, insisting the adjustment was part of a unified fee structure approved by the Kogi State Government for its three state-owned universities. The Vice-Chancellor of Prince Abubakar Audu University (PAAU), Anyigba, Prof. Salisu Ogbo Usman, said the review was not arbitrary but followed a government directive issued in 2024, which was intended to harmonise fees across the state-owned tertiary institutions. He maintained the charges at PAAU were comparatively lower than those

in some neighbouring states. The Vice-Chancellor made the clarification during an investigative hearing organised by the Kogi State House of Assembly following a petition alleging arbitrary increases in school fees by the managements of PAAU and Kogi State Polytechnic, Lokoja. He explained that much of the controversy surrounding the fee structure centred on medical programmes, noting that the university’s MBBS, Nursing, Medical Laboratory Science and other health-related programmes required substantial financial investment, particularly at the clinical training stage. Usman commended the immediate past Vice-Chancellor, Prof. Marietu Ohunene Tenuche, for reintroducing

the medical programmes, which had collapsed in 2012, and former Governor Yahaya Bello for supporting efforts to address the challenges faced by stranded medical students. He also praised Governor Ahmed Usman Ododo for sustaining medical education in the state’s universities. On the Nigerian Education Loan Fund (NELFUND), the Vice-Chancellor disclosed that 4,032 PAAU students had applied for and secured approval for loans totaling N536,662,680, with the funds expected to be credited to the respective students’ accounts for school fee payments. He added that an additional 600 students had submitted applications, expressing optimism that more

beneficiaries would be captured. He urged students to take advantage of the scheme, which also provides eligible beneficiaries with a monthly upkeep allowance of N20,000 and allows repayment to commence two years after graduation, subject to securing gainful employment. Earlier, the Commissioner for Education, Mr. Wemi Jones, explained the government had established a process for reviewing fees in its tertiary institutions, taking into consideration prevailing economic realities and the interests of parents and students. Jones said the upward review directive was issued to PAAU in 2024 but was initially implemented inconsistently across departments and programmes.

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WEDNESDAY, NOVEMBER 4 t T H I S D AY

T H I S D AY ˾ WEDNESDAY NOVEMBER 4, 2026

POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

Sanwo-Olu’s Week of Many Shades

Between October 26 and 31, 2026, Lagos State Governor, Mr. Babajide Sanwo-Olu, moved from national economic deliberations in Abuja to investment negotiations, women’s empowerment, healthcare, political succession, education, banking and, ﬁnally, the fashion runway. Wale Igbintade reports.

t was a week of contrasting engagements that offered an unusual glimpse into the many demands of governing Nigeria’s commercial capital, Lagos. For most public officials, appearing on a fashion runway would ordinarily have been the biggest surprise of their week. But for Governor Sanwo-Olu, it was merely the closing scene of six days, filled with engagements that could hardly have been more different in character, substance and atmosphere. By the time he walked the runway for celebrated Nigerian designer, Ugo Monye, at the 2026 Lagos Fashion Week on Saturday night, October 31, Sanwo-Olu had already travelled through an extraordinary range of engagements. He had discussed Nigeria’s economic future in Abuja, celebrated the contributions of women, surprised his wife with a bouquet of flowers and a public kiss, attended to healthcare reforms, engaged international investors, made a politically consequential speech about his deputy’s ambition to succeed him, celebrated a century of medical service, rewarded teaching excellence and challenged Nigerian banks to put their expanding capital to productive use. And that was all in one working week. Indeed, if the governor’s itinerary offered any particular insight, it was the remarkable variety of responsibilities that come with leading a state such as Lagos, where the demands of government intersect constantly with business, politics, social development, culture and the everyday aspirations of millions of residents. It was a week in which Sanwo-Olu moved from discussing international trade corridors to sharing a romantic moment with his wife; from making the case for political continuity to celebrating a classroom teacher; and from addressing some of Nigeria’s most accomplished financial professionals to modelling a Nigerian designer’s creation before an appreciative fashion audience. The contrasts were striking. Yet, taken together, they told a larger story about the different worlds a governor must navigate, sometimes within hours of one another. Monday: The Economic Conversation Begins in Abuja The week began on Monday, October 26, not in Lagos, but in Abuja, where Sanwo-Olu joined political leaders, economic policymakers and private-sector operators at the 32nd Nigerian Economic Summit. The summit, organised by the Nigerian Economic Summit Group, provided the platform for conversations about growth, productivity, structural reforms and Nigeria’s economic competitiveness. Sanwo-Olu’s intervention focused on regional growth corridors and the opportunities presented by the African Continental Free Trade Area. For a governor presiding over Nigeria’s foremost commercial centre, the subject was particularly relevant. Lagos occupies a strategic position in the country’s maritime trade, financial services, manufacturing, logistics and technology sectors. His argument was that economic growth could not be separated from the infrastructure and institutions necessary to sustain it. Efficient ports, reliable transportation, electricity, broadband connectivity and simplified trade procedures were all part of the equation. He also drew attention to the need to connect Nigerian producers with wider African markets, particularly through regional trade arrangements and improved logistics. It was a policy-heavy beginning to the week, reflecting the practical challenges of positioning Lagos within an increasingly competitive continental. But while Monday was largely devoted to economic strategy and national development, Tuesday was to offer a dramatically different atmosphere Tuesday: Flowers, Affection, Empowerment and Big Rewards If Monday showcased Sanwo-Olu as the

Sanwo-Olu

economic policymaker, Tuesday revealed another side of the governor. At the opening of the 26th National Women’s Conference of the Committee of Wives of Lagos State Officials (COWLSO), held at Eko Hotels and Suites, Victoria Island, the governor momentarily abandoned the formality associated with his office. In what became one of the week’s memorable public spectacles, SanwoOlu surprised his wife, Dr. Ibijoke Sanwo-Olu, with a bouquet of flowers. Then came the kiss. With 2Baba’s popular love song, African Queen, providing the background music, the governor publicly acknowledged his wife’s contributions to the organisation and its activities. It was a light-hearted moment of affection that quickly attracted attention beyond the conference hall. The significance was not in the flowers alone, but in the unexpected display of warmth by a political officeholder ordinarily encountered in the more formal settings of government. Yet, beyond that romantic interlude was the substantive business of COWLSO. The conference, themed “Anchored in Purpose: Be the Blueprint”, brought together women from different professional, political and social backgrounds to discuss leadership, empowerment, entrepreneurship and community development. It was also a particularly significant edition, being the eighth and final annual conference under the Sanwo-Olu administration. As the conference progressed, its

gala celebrations provided another memorable dimension. Mrs. Francisca Olaitan Lawal, a Lagos State teacher approaching retirement after 33 years of service, emerged winner of a three-bedroom apartment donated by the governor. Another participant, Mary Odofin, a Level 9 officer with the Lagos State Ferry Services, won a brand-new Sports Utility Vehicle. Other participants received cash prizes, shopping vouchers, travel tickets and assorted gifts. For the beneficiaries, what began as participation in a women’s conference ended with substantial personal rewards. For Sanwo-Olu, the occasion presented an opportunity to acknowledge service, celebrate women and associate the administration with an organisation whose activities have extended into education, healthcare and community welfare. But Tuesday was not entirely about celebration. The governor also unveiled the Lagos Private Health Plans and announced the implementation timetable for the state’s mandatory health insurance framework. He disclosed that 21 Health Maintenance Organisations had joined the initiative and that the Health Equity Fund had been increased from N1 billion to N3 billion to support residents unable to afford insurance. Formal enforcement of mandatory coverage was scheduled to begin on January 1, 2027. Thus, within the same day, the governor had moved between a deeply personal celebration of his wife, a social empowerment programme and a major public health financing initiative. It was a vivid illustration of the contrasting dimensions of his schedule. Wednesday: Back to Business, Investment and Global Competitiveness By Wednesday, October 28, the romantic atmosphere and festivities had given way to another round of serious economic engagements.

For Governor Sanwo-Olu, it was a week that oﬀered a glimpse of the demanding, occasionally unpredictable and sometimes surprisingly human dimensions of life as the governor of Lagos State.

At the Nigerian-British Chamber of Commerce’s Lagos State Executive Business Breakfast in Lekki, Sanwo-Olu addressed business leaders and investors on the theme, ‘The Future of Lagos: Business, Investment and Global Competitiveness’. The session offered an opportunity to articulate the state’s investment ambitions and address some of the concerns confronting enterprises operating within its economy. Sanwo-Olu spoke about the State Development Plan 2052, which envisages an economy approaching $1 trillion by the middle of the century. He highlighted the administration’s investments in rail transportation, road infrastructure, technology and improvements to government services. But the conversation was not limited to ambitions and infrastructure projects. Questions about the ease of doing business, land administration, waste management and service delivery also featured, underscoring the practical difficulties that must be overcome if Lagos is to translate its economic potential into greater productivity and investment. Later, his engagements with international development and business interests reinforced the same economic theme. At Lagos House, Marina, he received Christophe Lecourtier, Chief Executive Officer of the French Development Agency, with discussions covering the agency’s partnership with Lagos and the OMI-EKO waterways transportation project. The project is intended to improve water transportation and introduce modern electric ferries as part of a broader multimodal transport system. The governor also hosted senior executives of CMA CGM, the international shipping and logistics company involved in operations at the Lekki Deep Sea Port. Their discussions centred on further investment opportunities, maritime development and the importance of building local capacity through employment and training. The same Wednesday also marked the conclusion of the COWLSO conference, with Sanwo-Olu urging the organisation to translate its resolutions into initiatives capable of producing lasting benefits for Lagos residents. By then, the week had already taken him through several major policy areas, from continental trade to women’s empowerment, healthcare, transportation and international investment. Thursday appeared relatively quieter in terms of major publicly reported engagements. It offered something of a pause in the unfolding narrative, although the less visible administrative responsibilities of government did not necessarily observe such pauses. The relative calm would not last. Friday: History, Politics,Healthcare and a Teacher’s Triumph If Tuesday was memorable for its warmth and Wednesday for its economic engagements, Friday, October 30, stood out for its sheer range of activities and the political significance of one particular speech. The day began with an event whose implications extended beyond the ceremony itself. At the Wole Soyinka Centre for Culture and Creative Arts, Iganmu, Lagos, Deputy Governor, Dr Kadri Obafemi Hamzat unveiled his governorship manifesto and campaign theme ahead of the 2027 election. Ordinarily, such an occasion would be dominated by the candidate’s proposals, promises and political aspirations. But Sanwo-Olu’s address added a different dimension to the proceedings. Rather than merely offering a conventional endorsement of his deputy, the governor revisited their political history, particularly the events of 2018, when Hamzat stepped aside for him in the contest for the APC governorship ticket. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY NOVEMBER 4, 2026

FEATURES

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

GTCO Tackles Fashion's Missing Link With Yearround Collective for Indigenous Fabric Makers African fashion has the global spotlight, but its foundation remains in the shadows.The Aso-oke weavers, Adire dyers and indigenous textile artisans whose craft deﬁnes the continent's style have long lacked visibility, market access and direct link to designers and buyers.Guaranty Trust Holding Company is now moving to close that gap. On Thursday, the bank unveiled the GTCO Fashion Collective, a yearround platform that will connect designers, models, stylists, buyers and content creators to the makers behind the fabrics, through a dedicated manufacturer and textile directory. Writes MARY NNAH

Models on the runway

very November, Lagos shines. Runways glow, designers bow, Instagram explodes. But miles away in Iseyin, Ikorodu and Abeokuta, the women who dyed the Adire and the men who wove the Aso-Oke that stole the show remain in the shadows; no directory listing, no buyer contact, no share of the applause. Guaranty Trust Holding Company is calling that what it is: an infrastructure failure. And it is moving to fix it. On Thursday, GTCO announced the GTCO Fashion Collective, a yearround platform that will keep Africa's fashion ecosystem alive long after the last model leaves the runway. The announcement was made by Oyinade Adegite, Head of Corporate Communication, at a press briefing ahead of the 9th GTCO Fashion Weekend, holding November 7 and 8, at Plot 1, Water Corporation Drive, Oniru, Lagos. Over the past nine years, the GTCO Fashion Weekend has done what many thought unlikely - built Africa's most exciting fashion experiences on the

back of a financial institution's commitment to promoting enterprise," Adegite said. "This year, we are introducing the GTCO Fashion Collective, a year-round platform that connects every part of our fashion ecosystem: designers, models, stylists, photographers, editors, buyers, content creators and the broader creative community."

and Adire dyers who create the signature textures often operate informally, without visibility, pricing structure or direct access to the designers and international buyers who need them. GTCO's answer is a Manufacturer and Textile Directory at the heart of the Collective; a searchable, permanent home for artisans and producers behind indigenous fabrics. It is an attempt to formalise what has been informal, and to make heritage profitable. "This addresses a long-standing gap. African fashion has gained global attention, but the makers of its distinctive textiles frequently operate without structured market access," a fashion stakeholder noted. The directory turns cultural capital into commercial capital.

The Real Issue: Spectacle Without Structure For nearly a decade, GTCO Fashion Weekend has been Africa's biggest consumer fashion fair. But like most fashion weeks across the continent, it suffers from the same cycle: two days of high energy, then silence. No sustained linkage. No commercial continuity. No system to turn attention into income. The worst hit are the indigenous fabric makers - the foundation What Stays, What Changes of African fashion. The 9th edition will still While designers get global features, the Aso-Oke weavers deliver what fashion lovers

expect: masterclasses with Renee Morris, Sherlina Nym and Rachel Ojuromi; designer presentations from Spectrum by Aisha, MSO Lagos, Cisca Cecil, Sheye Oladejo, Meme Rocha and Mide World; plus retail outlets, craft and fabric market and runway shows featuring African and international designers. What changes is the afterlife of the weekend. The Collective is designed as connective tissue - keeping conversations, orders, collaborations and learning going for 12 months, not 48 hours.In a global moment when international brands are hunting for authenticity, traceability and craft, connecting weaver to designer to buyer is no longer sentimental. It is strategic. GTCO is no longer just staging fashion. It is building the infrastructure that lets fashion scale - and for the first time, making sure the hands that weave the fabric are no longer invisible when the lights come on.

WEDNESDAY, NOVEMBER 4 t T H I S D AY

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L-R: Non-Executive Director, RMB Nigeria Asset Management Limited, Yetunde Ogunremi; Head of Marketing and Communications, RMB Nigeria, ‘Shola Ogunyemi; CEO, RMB Nigeria Asset Management Limited, Kike Mesubi; immediate-past CEO, Ecobank Nigeria Patrick Akinwuntan; Head of Business Development, RMB Nigeria Asset Management, Kikelomo Olukoya; and Non-Executive Director, RMB Nigeria Asset Management Limited, Nadia Zakari, during the presentation of the award of Excellence in Investment Management at the 2026 Banks and Other Financial Institutions (BAFI) Awards in Lagos…recently

L-R: Vice President Kashim Shettima (GCON) and Director of Regulatory Affairs, IHS Nigeria, Saidu Lawan Abdullahi, during the vice president’s visit to the IHS Nigeria Stand at the 32nd Nigerian Economic Summit (NES #32) held at the Transcorp Hilton in Abuja…recently

L-R: Architect, Voldex Associates Limited, Kelechi Onyike; President, Association of Consulting Architects Nigeria, Ekaete Bassey Fujah; Founder and Chief Executive Officer, Design Union Limited, Anthony Aihie; and Chairman and CEO, 9 Wesley Design Office Limited, Oluremi Ajose-Adeogun, at the Architects Forum 2026 during Design Week Lagos, held in Lagos…recently

The Pastor, Triumphant Baptist Church, Akowonjo, Lagos, Rev. Dr. Olajide Oke; his wife, Olukemi (middle), flanked by their children, Ayomipo Oke, Oluwamayomikun Oke, and Oluwafayokunmi Oke, during his 60th birthday celebration in Lagos…recently

L-R: Guests, Oluwaseyifunmi Adekoje and Mrs. Titilayo Adekoje; Mr. Onuche Abutu (bridegroom); Mrs. Oluwakorede Adekoje (bride); and Mr. Dapo Adekoje during the wedding of Onuche and Oluwakorede Abutu in Lagos…recently

L-R: Son of the celebrant, Mr. Daniel Dania; celebrant and Provincial Pastor in charge of The Redeemed Christian Church of God (RCCG), Lagos Province 36, Tunde Dania; his wife, Pastor Ebun Dania; and Parish Pastor, RCCG Jesus House Parish, Tunmise Johnson, during a Thanksgiving Service to mark Pastor Dania's birthday, held at the RCCG Province 36 headquarters, Ajao Estate, Lagos…recently

˾ WEDNESDAY, NOVEMBER 4, 2026

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

3 ,

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%

N1,382/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT TUES., NOVEMBER 3, 2026

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

11 Blue-chip Firms Dominate NGX with 75.9% of N165.114tn Market Cap

Kayode Tokede As the nation’s capital market continue its positive momentum, 11 top firms have continued to dominate as they accounted for a whooping 75.9 per cent or N125.294 trillion of the N165.114 trillion Nigerian Exchange Limited (NGX) market capitalisation in 10 months of 2026. The 11 companies are: Dangote Cement Plc, Airtel Africa Plc, MTN Nigeria Communications Plc, Seplat Energy Plc, BUA Cement plc, and BUA Foods Plc. Others are: Aradel Holdings Plc. HBM Nigeria Plc, FBN Holding Plc. Zenith Bank Plc,

and Guaranty Trust Holdings Plc (GTCO). The 11 companies cut across cement, oil and gas, information technology, banking, and agro-allied sectors. THISDAY analysis of market data tracking the performance of NGX large-cap stocks showed that the 11 companies have added N58.9 trillion in market capitalisation in 10 months of 2026 from N66.37 trillion December 2025 driving the stock market to a new milestone of N165.114 trillion capitalisation as of October 30, 2026. Market analysts attributed the rally to improving investor

confidence, macroeconomic reforms and stronger corporate performance. The resurgence in foreign portfolio investment, improved company fundamentals and oversubscribed public offerings were also identified as signs of a more resilient Nigerian capital market. Analyst at Globalview Capital Limited, Mr. Aruna Kebira, attributed the stock market’s performance to improving macroeconomic conditions, rising crude oil prices, the Monetary Policy Committee’s significant interest-rate cut, and Nigeria’s restoration to frontier-market status by FTSE Russell.

“The switch by investors from the secondary market to the primary market to position for the Dangote Refinery IPO, which initially depressed the secondary market, subsequently fizzled out,” Adonri said. On the outlook for the fourth quarter, he said: “We are entering a seller’s market, judging from historical antecedents in the fourth quarter. This is when investors start positioning for end-ofyear distributions. The market is expected to be upbeat due to the favourable macroeconomic environment and the proposed listing of Dangote Refinery, notwithstanding heightened

political risk.” The combined market capitalisation of these companies advanced significantly during the period under review, reflecting sustained investor confidence and improving macroeconomic conditions in the country. Nigeria’s inflation eased to 14.63per cent as of September 2026 from 15.15 per cent December 2025, while the Naira at the closed September 30, 2026 at N1,331.50 against the dollar from N1,478.00 against the dollar September 30, 2025. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)

also eased its Monetary Policy Rate (MPC) to 23 per cent at the last Monetary Policy Committee (MPC) meeting. With investors participating in these companies, the market capitalization of listed companies has gained N65.74 trillion or 66.15 per cent to close October 30, 2026 at N165.114 trillion from N165.114 trillion, while NGX All-Share Index moved to 254,299.49 basis points, about 98,686.46 basis points or 63.42per cent Year till Date growth from 155,613.03 basis points the stock market opened for trading. The story continues online on www.thisdaylive.com

Fixed Income Trading Down 37% as OMO Bills Turnover Drops to N16.75tn Nume Ekeghe Trading activity in Nigeria’s fixed-income market weakened in October, with total traded face value declining by 37.1 per cent to N25.81 trillion from N41.07 trillion recorded in September, as transactions across Treasury bills, Federal Government bonds, Open

Market Operations (OMO) bills and Sukuk moderated. Data from the Fixed Income Dashboard showed that the number of trades also fell by 30.6 per cent to 8,090 in October, compared with 11,652 in the preceding month, reflecting a broad-based slowdown in market activity. The decline, analysts believe, was largely driven

by reduced transactions in OMO bills, which remained the dominant instrument in the fixed-income market but recorded a significant contraction in turnover. OMO bills accounted for N16.75 trillion in traded face value in October, down 40.3 per cent from N28.05 trillion recorded in September. The number of transactions in the

instrument also declined to 3,602 from 5,485. Despite the decline, OMO bills accounted for approximately 64.9 per cent of total fixed-income turnover in October, compared with 68.3 per cent in September, underscoring their continued dominance in the market. Treasury bills also recorded weaker activity, with traded

face value falling by 34.8 per cent to N3.91 trillion in October from N5.99 trillion in September. The number of Treasury bills transactions declined to 1,435 from 2,227, while the number of participants remained unchanged at 26. Similarly, trading in Federal Government of Nigeria (FGN) bonds moderated during the

review period. Their traded face value declined by 26.9 per cent to N5.09 trillion in October from N6.96 trillion in September. The number of transactions fell to 3,020 from 3,889, while market participation declined slightly to 24 from 25 participants. The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT T U E S D AY, N O V E M B E R 3 , 2 0 2 6 BONDS DESCRIPTION Price Yield Change Updated Time (%) ^13.98 2395.14 17.58 0.00 November FEB-2028 3, 2026 ^21.00 20104.63 17.60 0.00 November MAR-2028 3, 2026 ^19.30 17November 102.96 17.84 0.00 APR-2029 3, 2026 ^14.55 26November 92.93 17.87 0.00 APR-2029 3, 2026 ^18.50 21-0.20 November 102.15 17.78 3, 2026 FEB-2031

BILLS MATURITY NTB 6-Aug26 NTB 3-Sep26 NTB 8-Oct26 NTB 5-Nov26 NTB 3-Dec26

Discount Yield 16.22

16.34

15.39

15.68

15.80

16.36

16.45

17.28

16.45

17.66

CPS

Change (%) Updated Time

MATURITY

0,00 November 3, 2026 -0.33 November 3, 2026 -0.01 November 3, 2026 -0.01 November 3, 2026 -0.01 November 3, 2026

HAAI CP X 7-SEP-26 PCLL CP V 25-SEP-26 AGRO CP IV 7-DEC-26 DAIL CP II 26-NOV-26 JVIL CP XXIV 29-DEC-26

Discount Yield 22.10

22.76

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20.93

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20.86

20.53

22.56

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

0.05 November 3, 2026 0.10 November 3, 2026 0.11 November 3, 2026 0.13 November 3, 2026 0.08 November 3, 2026

CONTRACT TENOR Contract (MONTH)

Current Rate ($/₦)

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WEDNESDAY, NOVEMBER 4, 2026 ˾ T H I S D AY

BUSINESSWORLD

NEWS

CONSOLIDATING PORT PARTNERSHIPS TO STIMULATE MARITIME TRADE…

L-R: Chief Human Resources Development, United Nations Conference on Trade and Development (UNCTAD), Mr Mark Assaf; Vice President, International Association of Ports and Harbours (IAPH) and Managing Director, Nigerian Ports Authority (NPA), Dr Abubarkar Dantsoho; President Director, PT Pelabuhan Indonesia, Mr Achmad Muchtasyar and Chief Executive Africa & Europe, APM Terminals, Mr Igor Van den Essen at the Ongoing World Ports Conference in London… yesterday

Dantsoho: FG Policies Boosted Export Growth by 25% in Two Years Eromosele Abiodun in London The Managing Director of the Nigerian Ports Authority (NPA), Dr Abubarkar Dantsoho has stated that export out of Nigeria has increased by over 25 per cent in the last two years owing to the policies of the federal government. He stated this while

speaking at the ongoing Annual World Ports Conference in London, organised by the International Association of Ports and Harbours (IAPH). According to him, Nigeria’s population gives it immense advantage among its peers in West and Central Africa adding that recent reforms has also massively increased cargo throughputs.

Specifically, he said, “So for us in Nigeria, the most important thing is that we are seeing growth as a result of this policy that we are taking. Statistically, the exports from Nigeria in the last two years has increased by 25% And then these are exports that are not mainly only oil and gas, in terms of oil and gas like I mentioned, we are doing

fantastically around that, but then also in the other areas of manufacturing and agriculture, you know, raw materials like cocoa, like cashew and all that. Volumes have increased and that this is to the credit of the partnership that we have between ourselves and the major terminal operators APM Terminals.” He said the NPA has

everything in place to sustain the growth in exports adding that it was the reason it set up four Export Processing Terminals. “We have got about four of those in Nigeria where we collaborate with the terminal operators, with the Nigeria Customs Service (NCS), and other agencies that have a stake. So that everything

regarding the processing of the cargo for export is done locally, so that by the time it is exported out of Nigeria, there will not be issues regarding standards,” he added. He said Nigeria is better placed today to take advantage of the African Continental Free Trade Agreement (AFCTA) as a result of the reforms of the present administration.

Jaiz Bank’s Assets Hit N1.69tn Popoola: Africa Must Embrace AI to Drive Economic Transformation as Deposits Rise to N1.52tn Kayode He made the call while the sustainability He explained that finance Tokede

Nume Ekeghe

Jaiz Bank Plc, recorded total assets ofN1.69 trillion and customer deposits of approximatelyN1.52 trillion as at September 30, 2026, reflecting continued growth in its balance sheet. The Bank’s unaudited financial statements for the nine months ended September 30, 2026, showed that total

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Energy Emmanuel Addeh Asst. Editor, Money Market Nume Ekeghe Correspondents KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporter Peter Uzoho (Energy)

assets rose by 31.6 per cent fromN1.29 trillion recorded at the end of December 2025 toN1.69 trillion. Customer deposits, comprising current deposits and unrestricted investment accounts, stood at approximatelyN1.52 trillion. Gross earnings also increased by 16.1 per cent toN88.16 billion fromN75.90 billion recorded in the corresponding period of 2025, driven by contributions from financing contracts, investment activities and other income streams. Profit before tax rose marginally to N23.69 billion fromN23.29 billion in the corresponding period of 2025, while profit after tax increased toN23.28 billion fromN22.88 billion, representing a year-on-year growth of approximately 1.8 per cent. A breakdown of the earnings showed that income from financing contracts increased to N45.87 billion from N31.14 billion in the corresponding period of 2025, while income from investment activities stood at N38.14 billion.

The Managing Director/ CEO of CRC Credit Bureau Limited, Dr. ‘Tunde Popoola, has called on African governments, financial institutions, academia, researchers, and policymakers to embrace Artificial Intelligence (AI) as a strategic tool for economic transformation, sustainable development, and financial inclusion..

delivering the keynote address at the maiden international academic conference organised by the Department of Finance, Faculty of Management Sciences, University of Ilorin . The conference was themed “Artificial Intelligence, Finance and the Path to Sustainability in Emerging and Developing Countries.” Popoola highlighted

challenges confronting emerging economies, including poverty, climate change, energy deficits, infrastructure gaps, financial exclusion, and weak institutions. He noted that many developing countries remain far from achieving the Sustainable Development Goals, which makes innovative and scalable solutions increasingly important.

is central to sustainable development because it mobilises savings, allocates capital, manages risks, and promotes innovation. However, limited access to credit and inadequate financial infrastructure continue to hamper progress, and he cited estimates that achieving the SDGs requires between $5.4 trillion and $6.4 trillion in annual financing globally.

Champion Breweries Grows Nine-month Revenue to N51.4bn Champion Breweries Plc has announced its unaudited results for the nine months ended 30 September 2026, demonstrating resilient operating performance despite a challenging consumer demand environment and continued investment in strategic growth initiatives. Group revenue rose 140% to N51.4 billion (2025: N21.4 billion). The company in a statement said the increase was driven mainly by the consolidation of enJOYbev B.V. The standalone brewery business recorded lower sales

volumes, consistent with industry trends. Disciplined pricing and product mix optimisation helped protect its profitability. Operating profit grew 48% to N6.3 billion (2025: N4.3 billion). Operating margin moderated as the Group absorbed integration costs and invested in route-to-market expansion, brand building and distribution. Profit after tax rose to N2.18 billion (2025: N2.05 billion). This includes a net tax credit of approximately N1.3 billion, mainly from

deferred tax recognised on temporary differences under IAS 12. That credit was partly offset by higher finance costs from acquisition funding and prevailing interest rates. Commenting on the results, the Managing Director, Mr. Sampath Malolan, said: “Our results for the first nine months show the resilience of Champion Breweries at a time of softer consumer spending and volume pressure across the industry. Disciplined pricing, active portfolio management and a sustained focus on

operational excellence allowed us to deliver solid profitability while advancing the strategic initiatives that will drive our future growth.” “The successful integration of enJOYbev B.V. has broadened our growth platform and moves us closer to our ambition of building a diversified beverage group with multiple growth engines. We remain focused on operational efficiency, expanding our route to market and creating sustainable value for shareholders.”

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

PERSPECTIVE Elevate Africa: Accra Declaration Sets Out Far-Reaching Agenda for Africa’s Future By Dr. Adeniyi Ifetayo

he third edition of the Elevate Africa Convening, held in Accra, Ghana, has ended with an ambitious declaration of commitment by prominent African leaders, former and serving presidents, traditional rulers and other influential personalities to champion a new development agenda anchored on economic integration, reparatory justice, institutional reforms, cultural ownership, human capital development and shared prosperity. The two-day gathering, which brought together an impressive assembly of political leaders, cultural ambassadors, investors, activists, entrepreneurs, academics, traditional rulers, development practitioners and stakeholders in the creative industries, provided a significant platform for interrogating Africa’s development challenges and exploring practical pathways towards a continent capable of determining its own future. Held under the theme, “Africa: Defining Her Future,” the convening was co-founded by the Olu of Warri, His Majesty Ogiame Atuwatse III, and his wife, Her Majesty Olori Atuwatse III, who brought together participants from different parts of the world to deliberate on issues shaping Africa’s political, economic, cultural and social development. Among the distinguished personalities at the gathering were former Nigerian President Goodluck Jonathan, Sierra Leonean President Julius Maada Bio, former Malawian President Joyce Banda and former Mauritian President Ameenah Gurib-Fakim, alongside ministers, business leaders and representatives of international institutions. Beyond the distinguished attendance and colourful atmosphere, what stood out was the determination to move conversations about Africa’s future beyond familiar declarations of potential to concrete commitments, institutional action and measurable outcomes. At the heart of this ambition was the Accra Declaration of Commitment, signed by participating leaders in their personal capacities at the Presidential Roundtable on October 28, 2026. The declaration outlines 19 commitments covering three broad areas: confronting the historical consequences of the transatlantic slave trade and strengthening relationships with the African diaspora; accelerating economic integration, trade, investment and creative ownership; and rebuilding leadership, public trust and opportunities for future generations. Importantly, the signatories did not present the declaration as a substitute for governmental policy. Rather, they invited African governments, the African Union, the African Continental Free Trade Area (AfCFTA) Secretariat, regional economic communities and other stakeholders to support and translate its commitments into practical policies and programmes. One of the most compelling issues that dominated discussions was the need for Africa to redefine its understanding of wealth and development. Delivering the opening address, the Olu of Warri challenged African leaders to invest more deliberately in human capital, institutional development and economic opportunities, arguing that the continent’s greatest asset was not its mineral deposits but the capabilities of its people. “The true wealth of any nation lies not beneath its soil, but within its people,” he declared. The monarch warned that Africa’s growing population would not automatically translate into prosperity without deliberate investments in education, healthcare, agriculture, innovation and other productive sectors. With projections indicating that more than one in four people globally would be African by 2050, he argued that the continent must prepare its young population to compete in an increasingly knowledgedriven global economy. His position reinforced a recurring concern throughout the convening: Africa cannot continue to measure its development solely by the abundance of natural resources while neglecting the human capabilities and institutions required to transform those resources into wealth. The question of ownership also emerged as a major theme, particularly in discussions surrounding Africa’s creative economy and cultural heritage. Speaking on behalf of Dr. Osahon Okunbo, founder of The Osahon Okunbo Foundation (TOOF), Nicole Asinugo, the foundation’s Director of Partnerships

L-R: Founder, Elevate Africa, Her Majesty, Olori Atuwatse iii, Queen Consort of Warri Kingdom; Co-Founder, His Majesty Ogiame Atuwatse iii, the Olu of Warri and Director of Diaspora Affairs, office of the President Federal Republic of Ghana, Mr. Kofi Okyere Darko after the signing of Accra Declaration on the sideline of Elevate Africa Convening 2026.

and Communication, highlighted the importance of building institutions and policies capable of preserving Africa’s cultural heritage and ensuring that the continent’s creative achievements translate into lasting economic benefits. Okunbo argued that international recognition of African artists and creative products would amount to little if the structures required to protect intellectual property, preserve cultural knowledge and create opportunities for emerging talents were absent. Drawing from his experience growing up surrounded by Benin artworks belonging to his late father, he emphasised that cultural heritage represented much more than artistic objects. It preserved the history, identity, beliefs and knowledge of generations. His intervention raised important questions about who owns Africa’s cultural products, who controls their commercial value and what the next generation stands to inherit. The issue received further attention from Olori Atuwatse III, who challenged African governments, investors and business leaders to move beyond celebrating the global popularity of African music, fashion and films to securing ownership of the economic value they generate. She noted that Africa earns only about one dollar from every 100 dollars generated through global trade in creative goods, describing the situation as a troubling disconnect between the continent’s cultural influence and its economic returns. “Our soft power should do more than make the world lean in. It should make the world buy in,” she said. Referencing Afrobeats, Nollywood and African fashion, she observed that while African creativity increasingly commands international attention, much of the commercial value is captured elsewhere. “The rhythm is ours. The colour is ours. Too often, the receipt is made out to someone else,” she said. Her argument highlight the need for African-owned creative businesses, stronger intellectual property protection, access to financing and commercial platforms that enable creators to retain ownership and benefit from their work. The discussions also placed considerable emphasis on the relationship between Africa and its diaspora, particularly the question of reparatory justice and the restoration of historical connections disrupted by slavery and colonialism. The Accra Declaration called for greater recognition of the enduring consequences of the transatlantic slave trade, including the return of ancestral remains and cultural property, access to historical archives, formal apologies where appropriate and consideration of measures to restore communities affected by the trade. It also advocated policies that would make it easier for Africans in the diaspora to return to the continent through improved citizenship, residency, land ownership and recognition of professional qualifications.

Significantly, the declaration distinguished reparations from remittances, philanthropy, investment and development assistance, maintaining that historical justice should not be confused with ordinary economic transactions. The call for a stronger relationship between Africa and the diaspora also extended to trade and investment, with participants advocating renewed commercial connections between the African continent and the Caribbean. On continental integration, the declaration urged faster implementation of the AfCFTA, greater freedom of movement for Africans, visa-free and visa-on-arrival arrangements, mutual recognition of qualifications and the eventual realisation of an African passport. It also called for improved roads, ports, electricity and digital infrastructure to enable African businesses to expand across national borders without unnecessary restrictions. Another significant issue was the need to ensure that Africa derives greater value from its natural resources. Participants called for greater transparency in mining contracts, local processing of minerals and equitable benefits for communities whose lands and resources sustain extractive industries. The declaration further addressed the growing influence of artificial intelligence, advocating African control over its data, investment in computing infrastructure and digital skills, and policies that protect citizens while allowing the continent to participate meaningfully in developing emerging technologies. Leadership, governance and public trust also featured prominently. The signatories called for more transparent and accountable governments, greater citizen participation and deliberate inclusion of young people, women and persons with disabilities in decision-making. The declaration further advocated constructive collaboration between elected governments and traditional institutions, recognising the cultural and community roles of traditional rulers while upholding constitutional authority and democratic accountability. The gathering also recorded practical initiatives aimed at translating its discussions into opportunities. One notable development was the partnership between Elevate Africa and the Centre for Business Innovation, Entrepreneurialism and Management (CBEM) at National University to provide a year-long business mentorship programme for winners of the Threads of Africa Fashion Film Prize. The programme, valued at approximately $25,000 in in-kind support, will equip the four winners with business development, marketing, branding, entrepreneurship and industry skills. The initiative complements the $25,000 non-dilutive grand prize presented to overall winner Adekola Emmanuel and reflects the organisers’ determination to connect creative talent with the business knowledge

and networks required to build sustainable enterprises. The convening also witnessed the signing of the Accra Declaration by participating leaders and the presentation of the $25,000 prize to the Threads of Africa winner. Ghana’s Minister of Tourism and Creative Arts, Abla Gomashie, also underscored the importance of changing the global perception of Africa from a continent defined largely by its raw materials to one recognised for its human capital, creativity and innovation. Perhaps one of the most important aspects of the Accra Declaration is its provision for accountability and follow-through. Elevate Africa will serve as the secretariat responsible for keeping records of the commitments and individual pledges made by signatories. Within 12 months, it is expected to prepare a progress report in consultation with the signatories, which will be presented at the next convening. This reporting mechanism is particularly important because Africa’s development conversations have often been characterised by impressive declarations and ambitious targets that struggle to translate into tangible improvements in people’s lives. By requiring individual commitments, milestones and periodic reviews, the declaration seeks to introduce an element of accountability into the process. Ultimately, the significance of the third Elevate Africa Convening lies not merely in the calibre of personalities assembled in Accra, but in the breadth of issues brought to the centre of Africa’s development conversation and the commitments made towards addressing them. It reinforced the argument that Africa’s future cannot be secured through natural resources alone, nor through political rhetoric, international recognition or isolated economic interventions. The continent must build institutions that work, protect the value of what its people create, develop its human capital, strengthen regional trade, reconnect with its diaspora and ensure that its natural wealth translates into shared prosperity. The Accra Declaration therefore presents an important framework for collective advocacy and action. Its ultimate value, however, will be determined by the willingness of its signatories, African governments, institutions and the private sector to move from commitments to implementation. For a continent whose future is increasingly tied to the aspirations of its youthful population and its position in a rapidly changing global economy, the message from Accra was unmistakable: Africa must take greater ownership of its history, resources, creativity and destiny. The challenge now is to ensure that the declaration becomes more than another document signed at an international gathering, but a living commitment capable of shaping policies, strengthening institutions and improving the lives of millions of Africans.

T H I S D AY ˾ WEDNESDAY, NOVEMBER 4, 2026

BUSINESS/MONEYGUIDE

Caverton’s Transformation Gathers Pace as Marine Revenue Rises Kayode Tokede Caverton Offshore Support Group Plc, yesterday announced its unaudited results for the nine months ended 30 September 2026 that showed a firm reshaping itself for growth. Caverton Marine, a negligible revenue line a year ago, now generates almost a third of Group revenue, while the OMIBUS electric ferry platform has completed sea trials and is preparing for passenger service. Analysis of the results showed that the group revenue rose 1.4 per cent to N20.74 billion, from N20.45 billion in the same period of 2025, as marine growth more than replaced the revenue from a major helicopter contract that concluded in August 2025. Net finance costs fell 16 per cent and the Group recorded a net foreign exchange gain. The group reported a loss after tax of N13.79 billion (9M 2025: N4.63 billion), largely reflecting N5.9 billion of non-cash depreciation following last year’s asset revaluation and the

absence of a N5.3 billion one-off gain recorded in 2025. The results were approved by the Board of Directors on 28 October 2026. OMIBUS, Caverton’s indigenous electric ferry platform, has completed sea trials on Lagos waterways. In a fullload trial an OMIBUS ferry carried passengers over 12.6 nautical miles between Falomo and Ikorodu ferry terminal. Commercial passenger service will begin on short, high-demand routes linking CMS, Falomo, Victoria Island and Lekki, with longer routes such as Ikorodu to follow as charging and battery performance are proven. The Group is advancing the restructuring of its debt to place repayment obligations on a sustainable footing and support operational recovery. Lower interest rates have already cut net finance costs by N2.19 billion year on year. Caverton is also in discussions with prospective strategic partners on an equity investment in its aviation business. Interest-bearing

borrowings stood at N81.55 billion at 30 September 2026. Group Chief Executive Officer of Caverton Offshore Support Group Plc, Olabode Makanjuola, said: “Caverton is in transition. A year ago our marine business barely registered in our accounts; today it delivers almost a third of Group revenue, earns foreign currency through a leading international Suezmax pool and is building indigenous electric ferries for Lagos. In aviation, we are restructuring for a leaner, more capitalefficient business, putting our MRO and training infrastructure to work and pursuing strategic partnerships to restore and expand flight operations, while our UAV business, working with partners including NASENI, is opening new markets in drone operations and technical training. We are tackling our financing pressures head-on, and as these businesses grow we are building a more diversified and resilient Caverton, positioned to deliver long-term value for our shareholders.”

TBG Celebrates Decade of Relationship Capital, Social Impact The Thursday Business Group (TBG) will tomorrow celebrate its tenth anniversary with a Founders’ Day Dinner and Awards Night in Lagos, marking a decade of evolution from an informal gathering of like-minded individuals into an organised network of entrepreneurs, professionals, executives and business leaders. Speaking ahead of the anniversary, the Guv’nor of TBG, Femi Adeyeye, described the milestone as an opportunity to consolidate the Group’s achievements and reposition it for a more ambitious phase of growth and impact. “Ten years ago, our vision was to bring

people together around trusted relationships, shared interests and mutual opportunity. Today, TBG has grown into a community with a broader purpose. Our ambition is to translate the strength of our network and the relationship capital we have built into greater business opportunities, strategic investments, stronger institutions and sustainable impact,” Adeyeye said. The Chairman of the Board of Trustees, Tope Akande, said the organisation’s next phase would focus on strengthening its institutional structures, deepening responsible leadership and ensuring its sustainability beyond individual administrations.

According to him, TBG’s evolution demonstrates the importance of shared vision, consistency, trust and collective commitment in building institutions capable of enduring beyond their founders and successive leadership cycles. “A group’s success should not be measured merely by the number of years it has existed, but by the institutions it builds, the value it creates, the opportunities it enables and the legacy it leaves behind. Our responsibility is to ensure that TBG’s next decade is defined by stronger governance, purposeful investments, enterprise development and greater contributions to society,” Akande said.

‘AFRICANDO Will Deepen Africa-US Commercial Ties’ Boniface Okoro ÓØ ×ßËÒÓË Abia State Government has said the 2026 edition of the African Diaspora Conference and Expo (AFRICANDO) will serve as a platform for translating international engagements into concrete investments and deepening commercial ties between Africa and the United States. The Chief of Staff to Governor Alex Otti, Pastor Caleb Ajagba, stated this at a media parley in Umuahia to unveil the three-day business summit scheduled for November 17 to 19, 2026. Ajagba said AFRICANDO, expected to bring together investors, business leaders,

policymakers, development partners, diplomats and entrepreneurs, would explore investment opportunities not only in Abia but across Africa. He said the 2026 edition, themed “Deepening U.S.– Africa Commercial Ties in the Era of AfCFTA,” will connect opportunities in Abia and other African markets with American capital, technology, expertise and global distribution networks. According to him, the African Continental Free Trade Area (AfCFTA) offers African businesses opportunity to expand beyond domestic markets, while international partnerships can help improve production capacity and

competitiveness. He said government is working with the organisers to ensure the conference goes beyond speeches and networking to facilitate transactions, business agreements and sustainable investments. He said Abia is strategically positioned to benefit given its manufacturing and entrepreneurial strength, particularly Aba, renowned for indigenous manufacturing, commerce and craftsmanship, adding that the Otti administration is investing in infrastructure and strengthening institutions to position the state as an investment destination.

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

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

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

˾ ÙßÜÍÏ ̋

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) ˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ Ͱ͵ϱ

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).

T H I S D AY ˾ WEDNESDAY, NOVEMBER 4, 2026

MARKET NEWS

Stock Market Gains N29bn on Buy Interest in Zenith Bank, Others Kaode Tokede

The stock market section of the Nigerian Exchange Limited (NGX ASI) staged a marginal rebound yesterday, as renewed buying interest in Zenith Bank Plc, 18 others lifted the market capitalisation up by N29 billion. The NGX All-Share

Index by 0.02 per cent to close at 254,289.35 points, strengthening its year-todate return to 63.41 per cent. Consequently, market capitalisation gained N29 billion to close at N165.11 trillion. However, market sentiment remained bearish, with 32 decliners outweighing 19 advancers. University Press led the

P R I C E S MAIN BOARD

F O R DEALS

gainers chart by 9.52 percent to close at N4.60, while Omatek Ventures followed with a gain of 8.59 percent gain to N1.39, per share. International Breweries Plc rose 6.47 percent to N9.05, while Royal Exchange and Guinea Insurance both gained 5.26 percent to close at N1.00 and 80 kobo respectively, per share. On the flip side, Fortis

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

Global Insurance led the laggards, shedding 10 percent to close at N1.53, per share. Vitafoam Nigeria followed with a 9.99 percent decline to close at N141.50, while Abbey Bank lost 8.73 percent to close at N5.75, per share. Caverton Offshore Support Group dropped 7.58 percent to close at N3.05 and Livestock Feeds declined by 6.51 percent to close at

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

O F

N13.65, per share. Meanwhile, the total volume traded gained marginally by 1.58 per cent to 525.439 million units, valued at N22.611 billion, and exchanged in 39,078 deals. Transactions in the shares of Zichis Agro Allied Industries led the activity with 127.480 million shares worth N2.167 billion. Access Holdings followed with

N OV E M B E R DEALS

MARKET PRICE

account of 42.594 million shares valued at N1.134 billion, while Chams Holding Company traded 25.415 million shares valued at N80.185 million. VFD Group traded 23.241 million shares worth N289.942 million, while International Energy Insurance traded 19.456 million shares worth N33.642 million.

3 / 2 6 QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, NOVEMBER 4 t T H I S D AY

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WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

NEWS

LAUNCH OF LAKOWE LAKES COUNTRY ESTATE...

L-R: Group CCO, Mixta Africa, Tola Akinsulire; Executive Director, Legal and Corporate Services, Ugochukwu Ndubuisi; Country Manager, Mixta Nigeria, Sade Hughes; CEO, Mixta Africa, Deji Alli; Executive Director, and CFO, Benson Ajayi; and CRO, Mixta Africa, Pekun Ozolua, at the unveiling of Lakowe Lakes Country Estate, a new polo and golf estate, held in Lagos …recently

Forgery Trial: NYSC Disowns Ex-Minister Nnaji’s Discharge Certiﬁcate, Identiﬁes 4 Defects The National Youth Service Corps (NYSC) on Tuesday disowned the certificate linked to former Minister of Innovation, Science and Technology, Geoffrey Nnaji, telling a Federal High Court in Abuja that it was not issued by the corps. Nnaji is standing trial on six charges, among them alleged forgery of NYSC discharge certificate and University of Nigeria, Nsukka, degree certificate. Testifying as the second prosecution witness (PW2) before Justice Joyce Abdulmalik, NYSC’s Assistant Director in the Department of Certification, Yusuf Abubakar Jumare, said an investigation by his department established that the document was fake. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is prosecuting Nnaji on charges of certificate forgery and money laundering in charge No: FHC/ ABJ/CR/389/2026. The former minister is the Peoples Democratic Party (PDP) candidate in the forthcoming Enugu State governorship election. He was represented in court by a team of lawyers led by Chief Woke Olanikpekun, SAN. Other members of the team are Chief Ugwu Onoja, SAN; Bode Olanikpekun, SAN; and George

Ibrahim (SAN). Led in evidence by Jimoh Abdulmumuni, SAN, Jumare said the department launched its investigation following a request from ICPC. He identified four features which, he said, showed that the certificate was not issued by the NYSC. The certificate number, purportedly issued in 1985, carries the prefix “A”, which the NYSC did not begin using until 1990. The call-up number on the

certificate has four digits (0137), whereas call-up numbers in 1985 had five. The certificate indicates a service period of 13 months instead of 12 calendar months. It was also not signed by the CEO of the NYSC at the time he claimed to have completed his service. Whereas the designation of NYSC CEO from inception till past the time of his purported completion of service was known as “Director,” Nnaji’s certificate was signed by

The United Nations Children’s Fund (UNICEF), the European Union, Yaba College of Technology (YABATECH) and the Industrial Training Fund (ITF) have launched the Youth Employability and Skills Project (YESP) to train 3,400 young people in digital, green and entrepreneurial skills across Kano, Jigawa and Sokoto States. Speaking at the launch in Kano on Monday, UNICEF Kano Field Office Education Specialist, Mr. Heinrich Rukundo, said the partnership demonstrated a shared commitment to investing in young people as drivers of economic growth, innovation and sustainable development. Rukundo noted that Nigeria’s greatest asset is its young population, but unlocking its demographic dividend requires equipping youths

to make the documents available to the defence. Under cross-examination by Bode Olanikpekun, SAN, Jumare maintained that the certificate was not issued by the NYSC. He told the court that his department was the custodian of all NYSC certificates; • that certificates were issued to corps members only on completion of their service year, and serve as proof of that completion; • That call-up letters were sent

by the NYSC to universities, where graduates collect them. Only universities forward the names of graduates to the NYSC for mobilisation. He admitted, however, that he did not check whether the defendant had ever been issued a certificate by the NYSC. Abdulmalik adjourned the case until November 30 for continuation of cross-examination of PW2, and until January 29 for continuation of trial.

Natasha Marks Three Years in Senate, Donates Smart Devices to Kogi Schools Senator visits three secondary schools, promotes digital learning and literacy Says geographical location should not limit students’ access to knowledge School authorities commend her commitment to education, human capital development Sunday Aborisade in Abuja The intervention, according to a statement by her Media Office on Tuesday, was undertaken on Monday. The statement explained that the exercise took the Senator to OCSS Oboroke, Adavi Model Secondary School, Adavi Eba, and Community

Secondary School, Obangede, all in Okehi Local Government Area of Kogi State. The distribution is aimed at strengthening digital learning, improving students’ access to educational resources and promoting technological literacy among young people in the senatorial district.

UNICEF, EU, YABATECH Launch Skills Project for 3,400 Youths in Kano Ahmad Sorondinki in Kano

a “National General.” The prosecution also tendered copies of correspondence between ICPC and NYSC on the alleged fake certificate. They were admitted in evidence and marked as exhibits. The defence said it would address its objections to the admissibility of the exhibits at a later date, informing the court that it had not been served with the documents. The prosecution counsel explained that he had only just taken over the case and undertook

with skills that match the demands of today’s and tomorrow’s labour market, especially as technology, climate change and economic transformation reshape industries. In his opening remarks, the Rector of the YABATECH, Engr. Ibraheem Abdul, described YESP as a strategic response to the urgent need to equip young people with relevant, market-driven skills, noting that the college is proud to lead the initiative with support from UNICEF and the EU. Abdul who was represented by the Deputy Rector of the College, Dr. Ismail Badmus, said “YESP builds on YABATECH’s existing skills programmes, including its ICT Skills Hub, Digital Technology Academy offering training in Artificial Intelligence and other emerging technologies, a large-scale

tech training targeting 18,000 youths, and the Girls’ Education and Skills Partnership (GESP).” “In addition, the college is currently implementing large-scale technology skills training targeting approximately 18,000 Nigerian youth across our centres in Epe, Ikeja, and Yaba. These efforts form part of a broader commi-tment to expanding access to quality digital skills nationwide.” he stated. Earlier, YESP Project Coordinator, Dr. (Mrs.) Funmilayo V. Doherty, said the training will cover ten skill areas including Solar PV Installation, Climate-Smart Poultry Production, Agro-Processing, Waste Recycling, Climate-Smart Irrigation, Computer Hardware and GSM Repairs, and will be aligned with the National Occupational Standards and National Skills Qualification Framework.

Speaking during the visits, Akpoti-Uduaghan said the intervention reflected her conviction that effective political representation must be measured by its impact on the lives of constituents rather than legislative activities alone. She said education remained one of the most important investments in the future of society, stressing that students in rural communities should have access to opportunities available to their counterparts in more developed areas. She said, “For me, the essence of representation is not simply to occupy an office or make speeches in the chambers of the National Assembly. It is about making a difference in the lives of the people who entrusted us with their mandate. “Education remains one of the most important investments we can make in the future of our society. These smart devices are not merely computers; they are instruments of opportunity, learning, innovation and empowerment. “I want our children to understand that their geographical location should never limit their access to knowledge or their aspirations in life,” she added. The senator urged the beneficiaries to make productive use of the devices, embrace digital literacy and remain committed to their academic pursuits.

She also charged teachers and school administrators to ensure that the equipment was properly maintained and deployed strictly for educational purposes. Reflecting on her three years in the Senate, Akpoti-Uduaghan said she remained conscious of the responsibility attached to the mandate given to her by the people of Kogi Central. She pledged to sustain interventions aimed at improving the welfare of constituents and facilitating development across the district. The Senator’s constituency development agenda, according to the statement, covers education, healthcare, infrastructure, economic empowerment, agriculture and youth development. In the health sector, she has advocated the establishment of the Federal Medical Centre, Ihima, through Senate Bill 521, an initiative intended to improve access to specialist medical services in Kogi Central and neighbouring communities. Her other constituency interventions include advocacy for improved road infrastructure, potable water, school facilities, solar-powered public infrastructure, agricultural support, skills acquisition and economic empowerment programmes for women and young people. On the legislative front, she

has also engaged in debates and advocacy on public accountability, social justice, equitable resource allocation and responsive governance. At Community Secondary School, Obangede, the Chairman of the Governing Council, Dr Shehu Sule, commended the senator for extending her educational interventions to the institution. Sule, who spoke during the visit, described the senator’s engagement with the school as an opportunity to recognise her contributions to education and human capital development. He said the senator’s interventions had demonstrated the importance of connecting legislative representation with the developmental needs of communities. According to him, the provision of smart devices would strengthen the school’s educational objectives and expose students to wider learning opportunities. He also praised Akpoti-Uduaghan for serving as an inspiration to young people, particularly girls aspiring to leadership positions. “We are therefore deeply blessed to be in your presence and be part of the history you have created through uncommon quality representation, provision of people-oriented projects, immense contribution to human capital development and great strides towards education,” he said.

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

NEWS

IMPORTANCE OF PUBLIC RELATIONS...

L-R: Co-convener, Mobola Akintola; Marketing Manager, Corporate and Investment Banking, Stanbic IBTC, Berlinda Adebanwo; Team Lead, Media and Internal Communications, Fidelity Bank Plc, Adebowale Banzi; Co-convener, Erhuvwu Akpomerha; Communications Professional and PR and Media Relations Specialist, Bemigho Awala; and Co-convener, Adepeju Ogungbenle at PR4PR, an initiative by MSc Media and Communication students of Pan-Atlantic University aimed at highlighting the value, scope and strategic importance of Public Relations in Nigeria held in Lagos, last Friday

THISDAY’s Adeniyi Seeks Responsible AI Use in Newsrooms as China-led BRNN Deepens Media Cooperation Global body to foster joint reporting on poverty reduction, digital economy, others Agrees to curb growing disinformation, enhance media training Emmanuel Addeh in Fuzhou, China The Chairman, Editorial Board of THISDAY Newspapers, Mr. Olusegun Adeniyi, has called for the responsible use of Artificial Intelligence (AI) in newsrooms across the globe, with the Belt and Road News Network (BRNN) Council also pledging to deepen media cooperation among member organisations. At the 4th Council Meeting of the BRNN which commenced in Fuzhou, Fujian Province, People’s Republic of China, yesterday, the organisation also agreed to foster joint reporting on poverty reduction, food security, digital economy and green transition, as well as curb the proliferation of disinformation. Besides, the meeting reviewed the progress of the network and

adopted a six-point joint statement on advancing high-quality development of BRNN endeavours, read by Council Chair and President of People’s Daily, China, Mr Yu Shaoliang. Speaking at the session, Adeniyi who highlighted the progress made by the organisation in the last seven years, recalled being one of the 40 founding members of the BRNN Council when the network was established in 2019. “What that growth reveals most eloquently is that in a divided world, serious media organisations still want to talk to one another. That is why dialogue among the media matters,” Adeniyi said. He argued that accuracy remains the only currency in journalism, especially in an age of disinformation, stressing that the rising

global contacts being harnessed by THISDAY and Arise Television have further given proper context to their coverage of world events. “THISDAY newspapers where I work, and our sister organisation, Arise Television have given us a direct line to colleagues across Asia, Europe, Latin America and the rest of Africa. These platforms have also given us access to context and contacts that have deepened our coverage,” he said. Looking ahead, Adeniyi advocated the deepening of exchange journalism, practical coordination on tools shaping the industry, and confidence to tell complete stories by members. “One, we need more exchange in both directions of journalism, stories and perspectives so that African voices are heard in Beijing as

clearly as Chinese voices are heard in Nigeria and the rest of Africa. Two, we need practical coordination on the tools which shape our industry, including the responsible use of artificial intelligence in the newsroom. “Three, we need the confidence to tell complete stories in terms of challenges as well as successes. At the end of the day, credibility is what will make the Belt and Road story believable to critical audiences,” he stated. Also, Adeniyi commended China’s growing footprint in critical infrastructure in Africa and Nigeria in particular, citing the Lagos-Ibadan railway and the Lekki Deep Seaport. In this connection, he noted that China has since granted zero-tariff access to all 53 African countries with which it has diplomatic relations,

Betta Edu Leads APC Women’s Humanitarian Outreach to Calabar Hospital The Directorate of Women Mobilisation of the All Progressives Congress (APC) Presidential Campaign Council has extended humanitarian support to patients at the General Hospital, Calabar, with financial assistance and encouragement for women and children receiving medical care. The outreach, led by the Directorate’s Co-Director, Dr. Betta Edu, was undertaken ahead of Monday’s APC presidential campaign rally in Calabar, following a directive by the First Lady, Senator Oluremi Tinubu, urging members of the directorate to extend compassion and practical support to women and children in hospitals. During the visit, Edu and members of the delegation toured the maternity, postnatal, accident and emergency, and children’s wards, where they interacted with patients, offered financial assistance and encouraged families facing challenging medical circumstances. Speaking with journalists after the visit, Edu said the initiative reflected the humanitarian dimension of President Bola Ahmed Tinubu’s Renewed Hope Agenda, stressing that political mobilisation should also translate into tangible expressions

of compassion and solidarity with vulnerable citizens. She explained that the team encountered patients with different medical challenges, including women awaiting surgery, those recovering from medical procedures and families struggling to meet healthcare expenses. “We met patients with different experiences. Some had heartbreaking stories, while others needed funds for surgery, and some had already undergone surgery and were recuperating. We encouraged them, gave them hope, and prayed that those going in for surgery would come out successfully, happy and healthy,” she said. Edu also highlighted ongoing healthcare interventions under the Tinubu administration, particularly free maternal healthcare services in selected hospitals, subsidised dialysis treatment and free eye-care interventions, including the distribution of corrective glasses through the Jigi Bola initiative. According to her, these interventions are designed to expand access to essential healthcare, reduce the financial burden on families and improve health outcomes, particularly

for women and children. She emphasised that reducing maternal and infant mortality remained a critical priority, noting that women deserved affordable, quality healthcare and adequate support throughout pregnancy and childbirth. The former Cross River State Commissioner for Health further expressed optimism about the state’s participation in Monday’s presidential campaign rally, emphasising the importance of grassroots mobilisation and community engagement in strengthening the party’s support base. She said the hospital visit demonstrated the directorate’s determination to complement political activities with humanitarian interventions that directly address the needs of ordinary Nigerians. Receiving the delegation, the Hospital Administrator of General Hospital, Calabar, Mrs. Bassey Effiong, commended Edu, the First Lady and the Cross River State Government for their interest in improving healthcare delivery. Effiong described the visit as a meaningful demonstration of concern for patients and healthcare workers, adding that the hospital had benefited

from various interventions aimed at strengthening its facilities and services. She also acknowledged ongoing efforts to improve the state’s healthcare workforce through the planned recruitment of additional doctors and nurses.

including Nigeria, describing it as “a practical argument for openness” and the shared prosperity that comes with it. He observed that this year’s meeting was even more important since it marks the 70th anniversary of China-Africa diplomatic engagement and the China-Africa Year of People-to-People Exchanges. “But you must understand, no exchange between peoples lasts longer than the one carried out through honest journalism. That remains our common responsibility,” Adeniyi, who spoke via a video message added. The BRNN is the core platform for media cooperation forum on Belt and Road. The ongoing 2026 forum in Fujian has drawn more than 200 foreign delegates from 182 media outlets and institutions across 100 countries. The Council is the governing body of the network. Earlier, in the joint agreement, members resolved to to focus on development as well as expand inclusive wellbeing, by supporting the media to respond to development aspirations of all countries and tapping into real-life cases of the Belt and Road cooperation. “We support the media in responding to the development aspirations of all countries, focusing on the tangible outcomes of Belt and Road cooperation, and tapping

into vivid real-life cases. More joint reporting on poverty reduction, food security, digital economy and green transition will be launched,” the statement said. The body further resolved to uphold peace and contribute to rational public opinion by advocating peaceful settlement of differences through dialogue, as well as advocate mutual learning to promote exchanges among civilisations. On technology and governance, the Council agreed to harness intelligent technologies to forge consensus on governance, abide by principles of truthfulness, objectivity and impartiality, and jointly curb disinformation. “We should support Global South countries in strengthening capacity-building and bridging the digital and intelligent technology divide, and guard against new technological barriers and historical injustices. “We encourage discussions on the application of artificial intelligence, leverage intelligent technologies to empower the news workflow, and guard against technology-derived risks,” the statement added. The Council also pledged to deepen practical cooperation through joint reporting, personnel exchanges, information sharing, technical collaboration and training programmes.

NIMC Arrests Illegal NIN Operators in Abuja, Seizes Enrolment Equipment Michael Olugbode in Abuja The National Identity Management Commission (NIMC) has arrested several operators allegedly involved in illegal National Identification Number (NIN) enrolment, unauthorised data modification and extortion during an enforcement operation in Gwagwalada and other locations in Abuja. The Commission also seized equipment used for illegal enrolment as part of an intensified crackdown on activities it said posed a threat to the integrity and security of Nigeria’s National Identity Management System. In a statement issued on Mon-

day, the Head of Corporate Communications, Kayode Adegoke, said the operation was conducted by NIMC’s Inspectorate Compliance and Enforcement Unit (ICEU). He said the exercise underscored the Commission’s determination to end unauthorised enrolment activities and unethical practices, particularly extortion and the circumvention of official procedures. According to the statement, many of the challenges encountered by NIN holders arise from attempts to bypass established enrolment and modification procedures. NIMC stressed that NIN enrolment must be conducted exclusively at its approved enrol-

ment centres, while requests for modification of personal data should be processed through its self-service platform at www. nimc.gov.ng. The Commission also urged NIN holders to download the NINAuth application from the iOS App Store or Google Play Store to enhance the security of their identity records, print their NIN slips and access other security-related benefits. The Director-General and Chief Executive Officer of NIMC, Engr. Abisoye Coker-Odusote, reiterated the Commission’s zero-tolerance policy towards extortion and unethical conduct.

WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

NEWS

INAUGURAL TRAINING WORKSHOP FOR TMS...

L-R: Member, Board of Trustees, Tinubu Movement for Sustainable Governance Foundation (TMS), Sanusi Musa (SAN); Director General/CEO NITDA and Chairman Board of Trustees and National Coordinator of TMS, Mallam Kashifu Inuwa Abdullahi; Director General, TMS, Marcel Ngogbehei, Members of TMS, Mr. Olujonwo Obasanjo and Mr. Suleiman Hashim, during the inaugural training workshop themed “Empowering Every Nigerian to be Head”, held in Abuja... recently

Rights Activist, Adeyanju, Commends DSS on Release, Compensation of Four IPOB Suspects Alex Enumah in Abuja Rights activist and Abuja-based lawyer, Mr Deji Adeyanju, has commended the leadership of the Department of State Services (DSS), on the release and subsequent payment of compensation to four persons held in custody, over suspicion of being members of the proscribed Indigenous People of Biafra (IPOB). Adeyanju made the commendation while confirming that the detainees, who had been in custody for the last four years, had been released to him. According to security sources, the suspects freed include Emele Uduma Ibe, Berefgagha Appah, Ondokeyilemi Aggry, and Oyeinmokebebeton Aggry. They were arrested in May 2022, in Sampou and Akeddei communities in Kolokuma/Opokuma and Sagbama local government areas of Bayelsa State. A source disclosed, “The agency established that they had been misled into believing that they would each receive a monthly payment of N100,000 under the federal government’s Amnesty Programme, not knowing that they were being lured by a group of IPOB members who are now facing trial.” Besides approving their release, the DSS director-general also approved an initial payment of N20 million, out of

which, each suspect is to receive N5 million as compensation after being cleared of alleged membership of IPOB. Confirming the development to THISDAY newspaper, Adeyanju, who disclosed being at the forefront of the struggle for the release of innocent Nigerians in various detention facilities across the country, acknowledged the commendable leadership of the DSS under Oluwatosin Adeola Ajayi. He stated, “Yes, I can confirm. We have been at the forefront of securing several of these releases and more are still to come because many people have been kept in Wawa barracks in Niger State. “We must sincerely commend the leadership of the DSS over the release. Our stand is simple; no innocent Nigerian should be kept in custody because they were arrested in mass arrest several years ago. This people have been there more than four years - this is what necessitated the push for compensation that they cannot be released like that, without compensation. “So, we thank the DG for listening to our plea on the issue of compensation.” Meanwhile, the rights activist also regretted the arbitrary arrest of Nigerians, stressing, “The issue of arresting people before investigation should be forbidden.”

According to him, the situation is the reason many people are languishing in detention facilities all across the country. Adeyanju stated, “Look at the army, the army have hundreds of people in the DIA and the place is 40 feet under the ground. “People are having respiratory problems, people are dying in custody, and people there have health issues. “There should always be investigation before arrest, this is my advice to the DSS and other security agencies.” He condemned the administration of late President Muhammadu Buhari for the arbitrary arrest and detention of thousands of people at the Wawa

barracks, for more than eight, nine years without trial, adding, “That is what we are pursuing.” Ibe, who spoke on behalf of the others, expressed gratitude to the DSS boss. He described the day as the happiest of his life. He disclosed that the experience had taught him a valuable lesson which he would share with others. He offered prayers for God’s continued blessings upon the DSS boss and the management of the Service. Recall that upon assuming office in 2024, the DG ordered a review of over 300 inherited terrorism cases. Currently, the DSS panel has been

Some residents of the Federal Capital Territory (FCT), Abuja, have raised the alarm over alleged threat to their lives and property situated at the Idu area of the FCT. The residents under the platform of Valington Premium City Estate Idu Owners Association, in a Safe Our Soul (SOS), message to the FCT Minister, Nyesom Wike and the Inspector-General (IG) of Police, are seeking urgent intervention of relevant authorities to prevent the destruction of their property which are at various level of completion by an estate developer. The group which disclosed that the matter is already a subject of litigation at the High Court of the FCT, lamented that moves are still on

to threaten their lives and property, despite an order of court on parties to seize from taking any further steps in respect of the property known as Plot 93, Cadastral Zone E06, Gousa District. Recall that Wingwall Design and Constructions Ltd, LCR Limited, and Cityview Parks and Resort, laying claim to Plot 93, Cadastral Zone E06, Gousa District, had dragged the Federal Capital Territory Administration (FCTA) to court over the said property which the subscribers have started building upon, after obtaining approval from the Federal Capital Development Authority (FCDA). “We write as the Valington Premium City Estate Idu Owners Association, writing through our Board of Trustees member, Chidi Imoko (on behalf of all innocent subscribers and property

IPOB allegations. There are numerous other cases that the DSS handled quietly. Adeyanju said, “Like other compensated suspects, the DSS will also offer psychological, medical support to these four, in addition to the initial amount given.” “I’m confident the DSS will also help further reintegration into the society,” revealed a source. The DSS director-general, in a recent maiden media interview, admitted that, as humans, the DSS is prone to mistakes. However, where there was injury, Mr Ajayi said there must be remedy.

2027: Indigenes Vow to Defend ‘Ogun for Ogun’ Mandate, as Adebutu, Deputy Tour Wards James Sowole in Abeokuta Indigenes of Ogun State have restated their resolve to protect their heritage and ensure that the ‘Ogun for Ogun’ mandate of prominent stakeholders in the state is actualised in the 2027 governorship election in the state. They made this pledge in their separate remarks during the wardto-ward tours embarked upon by

the governorship candidate of the Peoples Democratic Party (PDP) Oladipupo Adebutu and his running mate, Yemi Sowunmi-Kolapo, declaring their support for the candidates ahead of the poll. Adebutu and Kolapo have in the past weeks been touring wards across all the local government areas in Ogun, mobilising indigenes and intimating them with their seven-

Alleged Threat to Life, Property: Abuja Residents Cry to Wike, IG, Urge Respect of Court Order Alex Enumah in Abuja

able to decongest its facility to about 100 after thorough investigations, paying over N1 billion in compensation. The DSS boss awarded N20 million and covered the medical bills of a Jos based businessman, who was shot erroneously by service personnel in Plateau State. Chineze Ozoadibe was also compensated with N10 million after she was wrongfully arrested. Sunday Ifedi was also compensated with N10 million after investigation cleared him of ties with IPOB. Similarly, Kenneth Okechukwu Nwafor was also paid N5 million after investigation absolved him of

owners within Valington Premium City Estate). We bring to your esteemed office an urgent Save Our Soul (SOS) appeal regarding the brazen, lawless, and contemptuous activities of Wingwall Design and Constructions Ltd, LCR Limited, and Cityview Parks and Resort (alongside their directors, servants, agents, and privies). “They are currently taking the law into their own hands, employing state apparatus and armed thugs, and committing violent encroachment, demolition, and criminal destruction of properties belonging to our subscribers—actions directly subverting an active and subsisting court order”, the letter read in part. Recall that Justice S. B. Belgore of the FCT High Court had on October 8, ordered all parties in the suit marked: FCT/HC/CV/899/2026, to maintain

status quo, and had adjourned to November 16, to hear all pending applications before the court. Recall also that the same order was issued to parties on July 3. However, speaking with journalists shortly after the visit to the FCT Minister and the IG, on Tuesday, chairman of the association, Mr Walter Mmeje, explained that they are not contesting ownership of the land but, that as subscribers they don’t want their investment go down the drain, as most of them who are retirees have put their lives savings into the building project. Mmeje alleged that City View/LCR/ Wingwall has marked for demolition and in other ways aggressively encroached on subscribers’ plots and buildings, which are subject of ongoing litigation.

point agenda tagged: “ITURA DE”. Many grassroots dwellers who were meeting Adebutu and Kolapo for the first time were excited to receive the candidates to their communities as they welcomed them with fanfare. Indigenes also had the opportunity of having town hall discussions with the PDP candidates where they enumerated the challenges they are facing in their various communities. They urged Adebutu to fix their deplorable roads and assist farmers with seedlings and modern agricultural equipment to enable them to produce foods in large quantity for the state. Speaking in turns at different ward engagements, stakeholders resolved to mobilise support for the ‘Ogun for Ogun’ mandate, stressing that “it will be a slap on our dear state if a stranger is allowed to rule over us.” At Alagada Ward, Obafemi Owode LGA, Mrs. Folasade Ogunye, a market leader, said she was backing the Ogun for Ogun movement because indigenes understand the pains of the grassroots. She said, “We, the women of Obafemi Owode, have suffered neglect. Our roads to the markets are bad and our children need jobs. We want someone who grew up here, who knows our language and our struggles. “Apart from that, it would be

a disservice to the memory of our heroes for an outsider to dictate the fortune of our people. That is why we have pledged to go from house to house to secure this mandate. It is about our pride as Ogun indigenes.” At Alapakooni community in Obafemi Owode Local Government Area of Ogun State, some members of the All Progressives Congress (APC), set some bunches of brooms ablaze, saying they decided to dump the party because they could not continue to support a candidate who has not been able to state his true identity. Tunde Akinola, a community youth coordinator at Alapakooni Ward, said, “We decided to join this Ward meeting today with our incoming governor Adebutu because we love our state and can’t trade it on the altar of politics. We want to follow the person we know and that will deliver.” A stakeholder and farmer at Onidunu Ward, identified as Deji Bamidele, said, “In this community, farming is our life but we have been left with cutlasses while other states use tractors. When Adebutu explained ITURA DE and how agriculture will be mechanised, we saw hope. “We are committing our farmers’ cooperative of over 300 members to this ‘Ogun for Ogun’ cause to ensure our land is governed by our own.”

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

NEWS

2026 MALTINA TEACHER OF THE YEAR COMPETITION FINALE...

L-R: Commissioner for Basic and Secondary Education, Lagos State, Mr. Tolani-Ali Balogun; Divisional Manager, Sales and Customer Services, Honda Manufacturing Nigeria Limited, Mr. Olabade Badejo; Public Relations Officer, Nigerian Breweries-Felix Ohiwerei Education Trust Fund/Corporate Affairs Director, Nigerian Breweries Plc, Mr. Uzodinma Odenigbo; Governor, Lagos State, Mr. Babajide Sanwo-Olu; Winner, 2026 Maltina Teacher of the Year Competition, Mrs. Busayo Adeyemo; Minister for Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro; Minister for Education, Dr. Tunji Alausa; and Chairman, Nigerian Breweries-Felix Ohiwerei Education Trust Fund/Managing Director, Nigerian Breweries Plc, Mr. Thibaut Boidin, during the presentation of the N10 million grand prize and Honda HRV car to the winner at the Grand Finale event held in Lagos, last Friday PHOTO: SUNDAY ADIGUN

National Assembly Commences Process to Finally Transmit State Police Bill to Tinubu CNA: 28 state assemblies complete approval Sunday Aborisade in Abuja The National Assembly has begun administrative processes to transmit the constitutional amendment bill seeking the establishment of state police to President Bola Tinubu for assent, following its approval by 28 State Houses of Assembly. The development marked a significant step towards the proposed decentralisation of Nigeria’s policing system, after the number of approving state legislatures exceeded the

constitutionally prescribed threshold of 24 states. The Clerk to the National Assembly, Kamoru Ogunlana, disclosed this yesterday in a statement, confirming that his office had received and verified reports from 28 State Houses of Assembly, indicating their approval of the Constitution of the Federal Republic of Nigeria, 1999 (Sixth Alteration) Bill, seeking to provide for the establishment of State Police Services and related matters. Ogunlana explained that Section 9

of the 1999 Constitution requires the approval of not less than two-thirds of the 36 State Houses of Assembly, equivalent to 24 states, before a constitutional alteration can proceed. With 28 state legislatures endorsing the proposed amendment, the constitutional requirement has been satisfied, paving the way for the National Assembly to commence the process of transmitting the bill to the president. According to the statement, the bill was transmitted by the Clerk to the

National Assembly to the 36 State Houses of Assembly on September 16, 2026, for their consideration and approval, with a request that their decisions be communicated to the National Assembly within 30 days. Although the stipulated period expired on October 15, Ogunlana said his office would continue to receive reports from the state legislatures until the bill was transmitted for presidential assent. He said the National Assembly had undertaken the necessary administra-

tive verification of the reports and accompanying votes and proceedings to establish their authenticity and ensure that the records accurately reflected the decisions taken by the respective state legislatures. The Clerk also clarified that Section 9 of the Constitution did not expressly prescribe a Third Reading for a Constitution Alteration Bill, unlike the procedure applicable to ordinary bills. “In view of the approvals secured from the required number of State Houses of Assembly, the necessary administrative processes are being undertaken to facilitate the transmis-

Okorocha to Uzodimma: Stop Insulting Judges over APC Imo West Senate Verdict Alex Enumah in Abuja A former Governor of Imo State, Rochas Okorocha, has asked his successor, Hope Uzodimma and his aides to desist from further insulting judges over the recent judgment of a Federal High Court, Abuja, that sacked him as the candidate of the All Progressives Congress (APC) for the Imo West Senatorial District election slated for January next year. The ex-governor advised Uzodimma

and his aides to, instead concentrate their efforts to pursuing their appeals up to the Supreme Court instead of denigrating the Judiciary over a lost case. Okorocha spoke yesterday at the premises of the Federal High Court in Abuja, where he said he attended to sign some documents at the court’s Registry in relation to the appeal filed by Uzodimma against the October 26 judgment by Justice Obiora Egwuatu of the Federal High Court, Abuja, which upheld Okorocha’s claim to being the

APC candidate for Imo West. Okorocha said: “I listened to that news yesterday and it was so horrible, so terrible, that Governor Hope’s aide, in the name of his Deputy Chief of Staff, and the National Vice Chairman of APC, could berate a judge, insult a judge. “To use his words, he said the judgment was rubbish, procured, and that the judge should go and look at himself in the mirror. I think that is terrible. And, the other one,

who is called his Deputy Chief of Staff, whose wife is even a judge, could all be insulting the judge because of a judgment. “So, it means that whenever the judgment is for Hope then, it is good but, whenever it is against him then the Judiciary is evil. I think this is very uncivilised. I want him to caution his attack dogs and his people to refrain from insulting judges. It doesn’t represent this nation well, and I feel particularly hurt.

“I was made to understand that he has called all his aides and commissioners and everybody to go on as an attack dog. You see, they are doing all that. Can’t he wait patiently again to try and get the appeal through? At least the Supreme Court is there. “So it is very shocking and very surprising. I don’t know what they expected; that the judge should have said that the election was done on the 16th for Hope, when that actual date is 18th?

sion of the Bill to His Excellency, the President of the Federal Republic of Nigeria, for assent, in accordance with the Acts Authentication Act, CAP A2, (LFN) 2004,” he stated. The proposed establishment of state police has remained a major issue in Nigeria’s constitutional and security reform discussions, particularly amid persistent challenges posed by terrorism, banditry, kidnapping and other forms of criminality across the country. Proponents of decentralised policing have argued that allowing state governments to establish and operate their own police services would strengthen local intelligence gathering, improve community policing and facilitate quicker responses to security threats. They have also maintained that the centralised policing structure has placed considerable pressure on the Nigeria Police Force, given the country’s size, population and diverse security challenges. However, the proposal has generated concerns over possible political interference and abuse by governors, particularly against political opponents and perceived critics. Other concerns relate to funding, operational independence, accountability, human rights protection and the need to establish clear constitutional boundaries between federal and state policing authorities.

A D E S I N A , S A N U S I , P E T E R S I D E , OT E H O N F I S C A L P O L I CY: G R O W T H M U ST I M P R O V E L I V I N G STA N DA R D S creation. Oteh also identified pension funds as an important source of long-term domestic financing. She said properly structured investment frameworks could enable pension assets to support infrastructure and other productive ventures while providing safeguards for contributors. She called for greater decentralisation of economic development and public service delivery, stating that communities and subnational governments should have more capacity to respond to local needs. Citing electricity distribution in Aba, Abia State, she pointed to the potential of decentralised approaches to infrastructure management and service delivery. Oteh also stressed that access to finance, reliable infrastructure, regulatory certainty, and skilled manpower remained essential to creating an

environment in which businesses could thrive. She cited international investor interest in the proposed public offering of the Dangote Refinery as an illustration of the capacity of Nigeria’s capital market to attract capital beyond its domestic investment base.

Adesina: Africa’s Youth Could Drive Economic Transformation If Supported Adesina, in his intervention, stressed that Africa’s rapidly expanding youth population could become a major driver of economic transformation if governments invested adequately in their capabilities. He stated that Africa was projected to account for approximately a quarter of the world’s population by 2050, warning that the demographic expansion could become an economic

liability if not matched by investment in education, healthcare, nutrition, and skills. According to him, the continent’s real demographic advantage would not lie simply in the number of young people but in their ability to innovate, establish businesses, develop technologies, and contribute to productive economic activities. The former AfDB president urged governments to prioritise technical and digital education, affordable financing, and infrastructure to enable young people to convert their ideas into viable enterprises. He also called for stronger investment in artificial intelligence and digital capabilities, warning against Africa remaining primarily a consumer of technologies developed elsewhere.

Tijani: Knowledge and Technology As Magic Wand

Tijani said Nigeria’s capacity to apply knowledge and technology to its natural and human resources would be decisive in determining its long-term economic prosperity. He stated that possessing natural resources was insufficient to guarantee wealth, stressing that countries achieve economic advancement by developing the technological and institutional capabilities to maximise the value of their resources. The minister cited Nigeria’s telecommunications liberalisation and the introduction of GSM services in 2001 as evidence of how deliberate government policy, private sector participation, and competition could transform an industry and generate wider economic opportunities. He said artificial intelligence represented another major productivity frontier, but warned that Nigeria must first develop the capacity to absorb

and deploy emerging technologies effectively. Tijani identified connectivity, computing and data infrastructure, research, skills development, innovation, and effective institutions as critical foundations for building that capacity. He disclosed that the federal government was pursuing approximately 90,000-kilometre open-access fibre-optic network backed by an estimated $2 billion investment to expand broadband connectivity across the country. He also highlighted plans to strengthen shared computing infrastructure and develop a Nigerian large language model capable of supporting local languages, including Yoruba, Hausa, and Igbo, alongside Nigerian-accented English. The minister said the government’s 3 Million Technical Talent programme was designed to equip Nigerians with

the skills required to participate in the global digital economy, while the National Artificial Intelligence Strategy would guide the country’s adoption and development of the technology. He also cited differences in agricultural productivity between Nigeria and countries, such as Brazil and Argentina, to demonstrate the economic costs of inadequate technology adoption. According to him, Nigerian maize yields generally range between 1.5 and 2.5 tonnes per hectare, compared with approximately 10 tonnes per hectare in the South American countries, reflecting differences in the application of precision agriculture and improved farming practices. He urged businesses to take advantage of the digital infrastructure being developed by the government and convert such investments into commercially viable products, services, and employment opportunities.

WEDNESDAY, NOVEMBER 4, 2026 • THISDAY

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EPICURE REINSURANCE BROKERS MARKS 10TH ANNIVERSARY...

L-R: Chief Executive Oﬃcer, Epicure (Re)insurance Brokers, Mrs. Oyinpreye Aigbogun; Founder/CEO, Bukka Huts, Mr. Rashed Jaiyeola; Chairman, Epicure (Re)insurance Brokers,Mr. Obinnia Abajue, and Non-Executive Director, Epicure (Re)insurance Brokers, Mrs Chinwe Onubogu, Epicure at (Re)insurance Brokers 10th Anniversary celebration in Lagos...recently

Senate Rejects Nigeria Air Project, Urges FG to Establish National Carrier Akpabio dismisses revival of failed contracts Says Nigeria cannot continue to depend on foreign airlines for direct international connections Orders review of Nigeria-China aviation agreement Sunday Aborisade in Abuja Senate yesterday rejected calls for the revival of contracts awarded for the controversial Nigeria Air project, describing further discussions on the failed national carrier initiative as unproductive. It urged the federal government to explore alternative arrangements for establishing a Nigerian-owned airline. The upper chamber also called for an urgent renegotiation and enforcement of the Bilateral Air Services Agreement (BASA) between Nigeria and China to enable Nigerian airlines to operate direct flights to the Asian country. Senate President, Godswill Akpabio, announced the position during plenary, after lawmakers debated a motion sponsored by Senate Chief Whip, Senator Tahir Monguno (APC, Borno North), seeking to address the imbalance in flight operations between Nigeria and China countries. Although the lawmakers rejected the revival of the contracts associated with the failed Nigeria Air project, they maintained that Nigeria needed a national carrier capable of representing the country internationally and improving its participation in the global aviation market. Akpabio said the federal government should look beyond the failed Nigeria Air arrangement and consider establishing a national airline, recalling the operational capacity of the defunct Nigerian Airways. He lamented that the country had moved from operating a national airline with a sizeable fleet to depending largely on foreign carriers for international connectivity. The Nigeria Air project was unveiled by the administration of former President Muhammadu Buhari shortly before the end of its tenure in May 2023. However, the initiative became embroiled in controversy over allegations of fraud and misrepresentation. An investigator with the Economic and Financial Crimes Commission (EFCC), Christopher Odofin, had alleged in his testimony, which commenced on June 30, 2025, that former Minister of Aviation, Hadi Sirika, disguised an Ethiopian Airlines aircraft as Nigeria’s national carrier. EFCC is prosecuting Sirika, his daughter, Fatima Sirika, her husband, Jalal Hamma, and their company, Al Buraq Global Investment, on six counts bordering on alleged contract fraud

involving N1.5 billion and gratification proceeds of N1.3 billion. The commission alleged that the former minister corruptly awarded a consultancy services contract for the establishment of Nigeria Air in 2023 to a company belonging to Gabriel Tilmann, a professor whom the prosecution described as his friend. The defendants’ prosecution remains before the court. On the Nigeria-China aviation agreement, Monguno urged the federal government to take diplomatic and regulatory measures to secure reciprocal flight rights for Nigerian airlines. He stated that the existing arrangement, which allowed Chinese airlines to operate direct flights into Nigeria without corresponding direct services by Nigerian carriers to China, placed local operators and businesses at a disadvantage.

According to him, enforcing the agreement would transform the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja, into major aviation gateways linking West and Central Africa with East Asia. He said direct flights would reduce travel time, improve supply chain efficiency, retain foreign exchange within the country, and increase revenue accruing to Nigerian airports. Monguno also identified the potential benefits to include the expansion of small and medium-sized enterprises, increased non-oil exports, and improved access to international markets for Nigerian agricultural products, particularly perishable goods. He proposed that the Ministry of Aviation and Aerospace Development and the Nigerian Civil Aviation Authority

(NCAA) should pursue measures to ensure reciprocity in flight rights, address competitive disadvantages arising from airlines operating through intermediate destinations, and encourage bilateral code-sharing arrangements. The senator also suggested temporary airport fee waivers to support Nigerian airlines seeking to establish direct routes to China. On financial arrangements, he proposed a direct naira settlement window, leveraging the existing bilateral currency swap framework, to reduce dependence on the United States dollar in transactions associated with the proposed operations. He urged the Ministry of Foreign Affairs to initiate diplomatic engagements with China to facilitate business visas for Nigerian traders and secure reciprocal airport slot allocations for Nigerian airlines. Contributing to the debate, Senator

Abdul Ningi (PDP, Bauchi Central) criticised the absence of direct flights between Nigeria and China. Ningi stated that Nigerian travellers were compelled to transit through other countries to reach their destinations. He said China continued to benefit from Nigeria’s resources without the country securing corresponding economic and commercial advantages. Senator Ned Nwoko (APC, Delta North), however, called on the federal government to consider reviving Nigerian Airways. Nwoko said the country needed a national carrier rather than relying exclusively on private operators to establish international routes. Senator Khabeeb Mustapha (APC, Jigawa South-west) also supported calls for the revival of the defunct Nigerian Airways. Akpabio, in his contribution, questioned

the existing aviation arrangement between Nigeria and China, insisting that Nigerian businesses should not continue to depend on foreign airlines to access the Chinese market when Chinese carriers enjoyed direct access to Nigeria. He said, “We are talking about the BASA agreement between Nigeria and China. If it is only Chinese planes that can fly directly to Nigeria and Nigerian planes cannot fly direct to China, Nigerian businessmen going to China have to go through Kenyan Air, Ethiopian Air, all sorts of airlines but Chinese businessmen fly directly to Nigeria. “And we have over five million Chinese in Nigeria and we have less than one million Nigerians in China. It is something that we need to rejig to make sure that the BASA is revisited to enable Nigerian airlines to fly directly to China.”

Akume, Lokpobiri, Oma Djebah, Namibia’s Energy Minister, First Bank CEO, Global Energy Leaders, Others to Speak at 10th Africa Energy Summit Amidst pressing global energy crisis, supplies deficit, and shipping disruptions, occasioned by blockades at the Strait of Hormuz, international energy leaders, diplomats, African business leaders, and stakeholders drawn from both the public and private sector are set to discuss a roadmap for Africa’s energy security dynamics at the 10th Africa Energy Summit, holding in Nigeria’s oil and gas capital, Port Harcourt, Rivers State from on the 26th to 28th, November,2026. With the theme:”Scaling Innovative Industrial Capacity for Africa’s Energy Security”, the 10th Africa Energy Summit is being powered by the Solewant Energy Training Institute (SETI), a subsidiary of Solewant Group of Companies, a player in the energy ecosystem. With the core objective of connecting policy, capital, industry, enterprise, technology and knowledge in ways that translate into measurable opportunities for Africa’s industrial capacity and energy security, the conference would bring together some of Africa’s top leaders, brightest minds, energy industry captains, high-level diplomats, professionals Including Nigeria’s Secretary to the Government of the Federation,SGF, Senator George Akume, Nigeria’s Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Namibia’s

Minister of Mines, Energy & Industry, Hon Modestus Amutse, former Nigerian Ambassador to Thailand with concurrent accreditation to the United Nations Economic & Social Commission for Asia & the Pacific,(UNESCAP), Ambassador Oma Djebah, First Bank of Nigeria CEO/Managing director, Mr Olusegun Alebiosu, former Secretary General of Africa Petroleum Producers Organization(APPO),and current World Energy Council’s Chair for Africa, Dr Omar Farouk Ibrahim, Executive Secretary of the Nigerian Content Development & Monitoring Board(NCDMB), Engr Felix Omatsola Ogbe, the High Commissioner of Namibia to Nigeria, Ambassador Walde Ndevashiya, top diplomats, international industry leaders from Kenya, Ghana, amongst others. Senator George Akume as Secretary to the Government of the Federation,SGF, is expected to deliver the keynote address to set the tone for deliberations while the Honorable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri is expected to present a keynote speech showcasing Nigeria as a major key player in the entire global energy mix. The Executive Secretary, Nigeria Content Development and Monitoring Board(NCDMB), Engr Felix Ogbe would deliver a keynote address as a leading

regulator in the industry in Nigeria while Engr Wole Ogunsanya, Chairman, Petroleum Technology Association of Nigeria(PETAN), and the current chair, World Energy Council for Africa, Dr Omar Farouk Ibrahim would deliver addresses at the summit on capacity models for advancing energy security in Africa. On his part, the Namibia’s Energy Minister, Honourable Modestus Amutse, is expected to share his country’s energy experiences and opportunities at the Summit while Ambassador Oma Djebah, former Nigeria’s Ambassador to Thailand with concurrent accreditation to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), will provide insights on diplomacy, international cooperation, B-to-B, C-to-C, and P-to-P investment partnerships across international jurisdictions. The High Commissioner of Namibia, Ambassador Walden Ndevashiya would through light on the Namibian experience in shaping Africa’s energy capacity and security. Other top diplomats and international industry leaders from various countries in Africa, including Kenya and Ghana will deliver addresses on energy security ecosystem in Africa. These leaders are converging in Port Harcourt at the three-day high-level

Africa ‘s energy security Summit with the overarching goal of leading the conversation on strengthening indigenous partnership and scaling-up capacity across the oil and gas, power, renewable energy and allied industrial value chains, improving MSME’s readiness for finance, procurement, contracting and market entry, connecting viable enterprises and projects with banks, DFIs, investors,IOCs/NOCs, OEMs and other potential partners. Other objectives include: creating pathways for research, prototypes and graduate innovation to progress towards funding, pilots, licensing, partnerships and market deployment, advancing technology transfer, cross-border investment and international economic cooperation; and creating a structured post-summit mechanism for tracking serious finance, procurement, innovation and partnership opportunities. The yearly energy Summit in Port Harcourt is one of Africa’s most strategic and valuable gatherings of policy leaders, energy captains, stakeholders, and industry players. According to the conveners, the 10th edition of the Africa Energy Summit, which leverages the success of its 9th edition, is structured as a continuum rather than a two -day series of speeches.

It would commence before the formal summit with enterprise, innovation, and progresses through two focused summit days, culminating in executive relationship -building and recognition activities, and while continuing through post -summit deals and opportunity tracking. According to the conveners, the programme pillars include: enterprise and indigenous industry scale -up, finance, investment and deal facilitation, research, innovation and commercialisation, technology and international cooperation, exhibition, markets access and place-based investment and executive networking and post-summit conversion. The summit is designed to be a cross-sector audience conversation comprising senior government and regulatory officials;IOCs and NOCs; indigenous energy service companies;PETAN members and other industry associations;banks, DFIs, investors and experts/trade-finance institutions;OEMs and technology providers;universities, researchers and innovators;MSME and emerging professionals; diplomatic missions and international trade/investment bodies; state and local government;exhibitors, sponsors and strategic business leaders.

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

NEWS

OPENING OF THE NIGERIA ENERGY LEADERSHIP SUMMIT 2026...

L-R: Exhibition Director, Energy Portfolio, inD, Mr. Ade Yesufu; Special Adviser to the President on Power and Chairman of the Presidential Task Force on Power Sector Reset and Restoration, Dr. Rilwan Lanre Babalola; Minister of Power, Federal Republic of Nigeria, Hon. Joseph Olasunkanmi Tegbe; Group President, SkipperSeil Group, Mr. Jitender Kumar Sachdeva; and Group Director, inD, Mr. Mark Ring, at at the opening of the Nigeria Energy Leadership Summit 2026 at the Landmark Centre, Lagos...recently

FG Secure 2,512 Terrorism Convictions in Nine Years

Linus Aleke in Abuja

The federal government has secured a total of 2,512 convictions in terrorismrelated cases over nine years, following the conclusion of the 11th phase of terrorism trials at the Federal High Court, Abuja. National Coordinator of the National Counter Terrorism Centre, Office of

the National Security Adviser, Major General Adamu Laka, disclosed this during a press briefing, revealing that the latest phase, conducted in October 2026, recorded 791 additional convictions out of 1,069 cases handled across 10 courts. He said the trials demonstrated government’s commitment to combating terrorism, holding perpetrators

and their financiers accountable, and strengthening the administration of justice while upholding the rule of law and the fundamental rights of defendants. Major General Laka revealed that among the significant outcomes of this phase was the conviction and sentencing to death of Suleiman Abu, in the case of the Federal Republic of

Nigeria versus Suleiman Abu. He said the Federal High Court found him guilty of Boko Haram membership and participation in terrorist attacks on military facilities and civilians, resulting in deaths and serious injuries. The National Coordinator said the judgment showed the seriousness with which Nigeria’s justice system

addresses terrorism and affirms that perpetrators, regardless of affiliation, were accountable under the law when criminal responsibility was established beyond reasonable doubt. He said, “I am therefore pleased to report that the 11th phase of terrorism trials recorded significant outcomes. Prior to this phase, the first 10 phases had resulted in a cumulative total of

1,721 convictions. “During the 11th phase, an additional 791 convictions were recorded, bringing the cumulative number of convictions across all 11 phases to 2,512 convictions. “In this last phase, a total of 1,069 cases were handled across 10 courts of the Federal High Court sitting in Abuja.

ATIKU: DSS RECRUITING THUGS TO OBSTRUCT ADC CAMPAIGNS IN SOKOTO; DSS REPLIES, ORDERS PROBE INTO ALLEGATION their confidence.” The ADC presidential candidate said, “The 2027 general election will be a defining moment in our democratic history. This is more than a contest between parties or candidates. “It is a choice between a government that has shown indifference to people’s suffering and Nigerians who have endured enough and want their votes to count. “The ADC will resist every gimmick, administrative roadblock and underhand manoeuvre designed to exclude the opposition or impose a one party reality on Nigeria.” He stated, “We will not be intimidated into silence or irrelevance. Our campaign will proceed, and I will be in Sokoto tomorrow, God willing, to address the good people of the state. “I call on the people of Sokoto to remain calm and peaceful. Do not allow anyone to provoke you or turn a political gathering into a security crisis.” To the authorities, Atiku said, “I also urge the security agencies to protect commuters, residents and rally participants without favour. The authorities must ensure that our rally can hold peacefully and without interference. “To the voters of Nigeria, remain resolute. Stand your ground. Democratic freedom is not a gift from any government. It is your right. Do not allow anyone to intimidate you or checkmate your will.” Atiku stated, “As the presidential candidate of the African Democratic Congress, I give you my word:

I will lead this campaign and I will not abandon the field. We will confront every attempt to restrict democratic participation with firmness, organisation and faith in the Nigerian people. “The ADC will stand with officers who refuse to be used against democracy and who remain faithful to the constitution. Those who choose to betray their duty and collude in the suppression of political freedom will be held accountable under the law. “Nigeria belongs to its people, not to any party or temporary occupant of power. We will defend that truth and the people’s right to choose.”

Tambuwal Decries Political Intimidation in Sokoto, Vows to Defend Democratic Rights Former Governor of Sokoto State and senator for Sokoto South, Aminu Tambuwal, decried alleged political intimidation in the state and vowed to defend democratic rights and freedom of association. Tambuwal stated this when he received the presidential candidate of Social Democratic Party (SDP), Adewole Adebayo, on a courtesy visit in Sokoto on Monday. Tambuwal said he was pleased to receive the delegation, stating that the visit came at a particularly significant period in Sokoto State’s political history. The former governor reaffirmed that Sokoto was founded on the principles of fairness, inclusive governance, and respect for divergent opinions, stressing that

the state belongs to all Nigerians. Tambuwal stated, “Sokoto belongs to all Nigerians. It must remain a welcoming environment where people from different political backgrounds can freely come, interact, and promote their ideas, particularly those relating to democracy and good governance.” He expressed concern over what he described as troubling developments in the state. He alleged that the state government had sealed the ADC campaign office and that the party’s governorship candidate, Hon. Manir Muhammad Dan’iya, had been attacked by personnel of government-recognised security outfits. Tambuwal described the incidents as inconsistent with Sokoto’s longstanding reputation for peace, hospitality, and political tolerance, warning that such actions could undermine the state’s democratic credentials. Tambuwal said the opposition would continue to resist any action capable of restricting political freedom or discouraging citizens from participating in the democratic process. The senator commended Adebayo for his courage, patriotism, and commitment to national development, particularly his decision to challenge Tinubu, despite coming from the same geopolitical zone. Adebayo, for his part, said he was in the state to congratulate the Sultan of Sokoto, His Eminence, Alhaji Muhammad Sa’ad Abubakar III, on the 20th anniversary of his ascension to the throne. He described Sokoto as a signifi-

cant centre of Nigeria’s historical, intellectual, and political heritage. He stated that Sokoto’s importance transcended its identity as the seat of the caliphate, highlighting its enduring contributions to intellectual advancement and national development. Adebayo said, “We are here in Sokoto to register our well wishes to the Sultan of Sokoto on attaining 20 years on the throne. We thought we should be here because Sokoto, as we know, is very integral to the history of Nigeria. We see Sokoto not just as a Caliphate but as a seat of intellect.” Adebayo also called on the Sokoto State government to respect political diversity and guarantee freedom of movement for opposition politicians, stressing that no Nigerian should be denied access to any part of the country because of political affiliation. Meanwhile, the chairman of PDP states chairmen’s forum, Austin Nwachukwu, said at a meeting with the party’s National Working Committee (NWC) at its National Secretariat that APC governors were intimidating and harassing members of the party in their states. Nwachukwu stated, “l just want to use this opportunity to also bring to the notice of our National Working Committee that some states in the country, especially where we have APC governors, are very antagonistic to our candidates and members. “We have painstakingly produced very good candidates for the forthcoming elections and this is not going well with the governors of some states.

“For example, last week, the forum leadership was forced to go to Ebonyi State to address a draconian issue that have been brewing there, where intimidation, harassment, arrest, killings have become the order of the day, under the watch of the governor of Ebonyi state, His Excellency, Governor Nwifuru. “We made a presentation, and with me here is a copy of the petition that we’re unfolding to the Inspector General of Police today, and to other relevant security agencies. “The killings and harassment of our candidates and governorship candidates, especially in various states of the country, must stop.”

DSS Replies Atiku, Orders Investigation DSS, last night, responded to former Vice President Atiku Abubakar, saying its operatives deployed to the ADC governorship candidate in Sokoto State, Mannir Daniya, recently brought him to safety when he was attacked on October 31. A statement by Deputy Director, Public Relations and Strategic Communications of the service, Favour Dozie, said, “The attention of the DG Department of State Services (DSS) has been drawn to allegation by elder statesman and ADC presidential candidate, Alhaji Atiku Abubakar, that DSS is organising protests in Sokoto State. “For the records, DSS operatives deployed to Sokoto ADC governorship candidate, Mannir Daniya,

evacuated him to safety unhurt on 31st October 2026, when attacked in Sokoto. “Two DSS operatives were assaulted during the incident and are still being treated in the hospital. The governorship candidate called personally to appreciate the State Director of Sokoto Command and even requested for reinforcement from the DSS.” DSS added, “Recall also that, on 2nd March 2026, the service arrested Monday Udeme Steven in Rivers State, for threatening to attack Peter Obi, NDC presidential candidate. He was prosecuted by the service in a Rivers Federal High Court, and sentenced to two (2) years imprisonment. “Though these operations to protect all political parties is at variance with the elder statesman’s allegation and tend to demoralise our gallant operatives who are risking their lives in the line of duty, the DG DSS has still ordered an investigation into the allegation in deference to the elder statesman.” DSS stated, “The service also uses this medium to reference a similar allegation by AAC presidential candidate Omoyele Sowore that the service was involved in an attack on him in Ekiti State. “In this regard, we thank the police for swift investigation and a preliminary report on the cause of the incident: ‘altercation’, coupled with the arrest of 11 suspects. “We await the outcome of police investigation and will not dissipate energy on the matter. The service will continue to remain accountable under the present DG.”

WEDNESDAY NOVEMBER 4, 2026 ˾ T H I S D AY

NEWS

ADVOCATING A POLIO FREE WORLD…

L-R: Rotary International District 9111 past District Governor, Remi Bello; District 9111 Governor 2026-2027, Bukola Bakare; District 9111 Governor-elect, Dr. Samuel Ayetutu, and Chairman, District 9111 Membership Attraction Committee, Busola Satuyi, at Olumo Rock Ikija, advocating Polio free world in Abeokuta Ogun State…recently

Insecurity: Army Troops Neutralise 2 Kidnappers, Recover Arms, Ammunition in Kogi Security operatives rescue 8 kidnap victims in Kaduna

Ibrahim Oyewale inLokojaand John Shiklam inKaduna

In line with the determination get rid of criminal elements out Kogi State and the ongoing clearance operations, the troops of 12 Composite Brigade, 5 Division Nigerian Army, have neutralised two kidnappers and recovered

arms and ammunition during a follow-up exploitation operation in Edimogbo Forest, Igalamela/ Odolu Local Government Area of Kogi State. Security Operatives Rescue Eight Kidnap Victims in Kaduna This is just as eight persons abducted by bandits in Millennium City and Marraban Rido, areas of

Enugu DLA Guber Candidate, Ugwu, Unveils Manifesto Emmanuel Ugwu-Nwogo in Enugu The governorship candidate of the Democratic Leadership Alliance(DLA) for the 2027 election in Enugu State, Nnamdi Ugwu, has formally presented his manifesto, saying that if he becomes governor his administration would usher in “the golden age of Enugu.” He promised to build the economy of Enugu State “from less than $6 billion to $50 billion within four years, adding that he would bring about “the real change” the people have been yearning

for. Ugwu who is a lawyer, declared his readiness to vie for the governorship seat at a press conference in Enugu during which he outlined his vision for a holistic development of Enugu, pinpointing what he would do sector by sector to achieve the overall goal. He said that the planned $50 billion economy “is a covenant” with the people which he must keep, adding that the economy would be anchored on five pillars with each segment making a specific revenue contribution to grow the economy.

Kaduna metropolis have been rescued in a joint operations by the Office of the National Security Adviser (ONSA),

Department of State Services (DSS), the Nigeria Police Force and the Nigerian Army. The clearance operations of

the troops was disclosed in a statement signed by the acting Assistant Director, Army Public Relations,12 Composite Brigade

Nigerian Army, Lieutenant Hassan Abdullahi made available to the Journalists in Lokoja yesterday.

2027: Isoko Nation Declares Support for Tinubu, Oborevwori Sylvester Idowu in Warri Thousands of indigenes and residents of the Isoko Nation turned out en masse yesterday to reaffirm their support for the re-election of President Bola Ahmed Tinubu and Delta State Governor Sheriff Oborevwori in the 2027 general election. The endorsement was

reiterated at a grand reception held for Oborevwori and his wife, Deaconess Tobore, at the Isoko House in Oleh. At the ceremony, which attracted traditional rulers, political leaders, captains of industry, and prominent Isoko sons and daughters, the governor was honoured as Orhuerevwo (Developer of Isoko Nation), while his

wife was honoured as the Ododo (Beautiful Flower). The President-General of the Isoko Development Union, Prof. Chris Akpotu, described Oborevwori as a transformative leader, whose administration had intensified infrastructure development across Delta State. He said the Isoko people’s

support for the governor’s MORE Agenda also reflected their endorsement of President Tinubu’s Renewed Hope Agenda. Akpotu, however, appealed for the construction of the road linking the IDU secretariat to Olomoro and Iwride-Iyede, as well as the restoration of electricity across Isoko land.

Oil Pollution: Ogoni Women Call for Genuine Cleanup of Communities Blessing Ibunge in Port Harcourt Women from K-gbara Dere community in Gokana Local Government Area of Rivers State have recounted the devastating effects of decades of oil pollution on women, agriculture, water sources and livelihoods in Ogoniland, calling for a transparent

and effective cleanup of contaminated communities. Among these women stakeholders, an elderly woman from the community, Mrs. Grace Nwindee, stated this during a community engagement visit by the Renevlyn Development Initiative (RDI) to oilimpacted areas of Ogoniland aimed at amplifying the

voices of women and drawing attention to the gendered consequences of extractive activities. The visit also reinforced RDI’s commitment to promoting women’s participation in environmental advocacy and strengthening gender-sensitive reporting, following its training of female journalists on

reporting the impacts of extractive activities in Nigeria. Recounting her experiences, Nwindee said residents had endured foulsmelling air, skin irritations, declining agricultural yields and polluted water sources, which she attributed to years of environmental contamination.

Anosike: I ‘ll Attract Investments to Reduce High Cost of Living in Abia

the situation on a lack of who paid him a solidarity with its arable land, would Dangote Cement Obajana Scales Up Boniface in Umuahia investments in agriculture by visit, pledged that his depend on food items from would neighbouring states to feed governorship candidate the current administration. administration Scholarship Funding for Students The The PDP governorship prioritise agriculture to its populace. of the Peoples Democratic

Ibrahim Oyewale inLokoja

No fewer than 75 students from Oworo community in Kogi State have benefited from a multi-million-naira scholarship scheme implemented by the Dangote Cement Plc’s Obajana Plant as part of its Corporate Social Responsibility (CSR) scheme. A statement issued by the Corporate Affairs Unit and made available to journalists in Lokoja yesterday said that that brings the total scholarship offered by the company between 2025 and 2026 to 125. The scholarship scheme, initiated by Dangote Cement

Plc, aims to expand its Corporate Social Responsibility (CSR) footprint across Oworo land, reaching beyond its five primary catchment communities of Jakura, Oyo, Iwaa, Apata, and Obajana. The representative of the Plant Director, Dangote Cement Plc, Obajana Plant, Mr. Ademola Adeyemi, said that while 50 students benefited from the scheme in 2025, the number increased to 75 students in 2026. He said the initiative is structured to offer financial relief to students while also alleviating the burden of educational expenses for parents and guardians.

Party (PDP) in Abia State, Dr. Kelechi Anosike, has vowed to attract investments to reduce the high cost of living in the state. Anosike, who described Abia as the most expensive state to live in, blamed

candidate who stated this when he received a delegation of old students of his alma mater, Comprehensive Secondary School, Okoko Item, Bende Local Government Area, in his office in Umuahia,

reduce cost of living in the state. Anosike, who emphasised that his administration would invest massively in agriculture and ‘stomach infrastructure’, said it was unacceptable that Abia State,

He noted that the situation which is responsible for the high cost of living in Abia State has persisted because farmers in the state have received little or no encouragement from the current administration.

Epicure Insurance Brokers Marks 10th Anniversary Years, Targets Digitisation Nume Ekeghe Epicure Insurance Brokers Limited has unveiled plans to expand its services, accelerate digitisation and deepen insurance penetration in Nigeria as it marks its 10th anniversary. Managing Director and Chief

Executive Officer, Oyinpreye Aigbogun, said the company’s next phase of growth would focus on collaboration and integrating insurance into different areas of financial services. Speaking at the firm’s 10th anniversary in Lagos recently,

Aigbogun said: “We should expect a richer and wider scope of services, more digitisation and deeper insurance penetration in Nigeria.” She noted that Nigeria’s insurance penetration remained low compared with countries such as South Africa and Ghana,

highlighting opportunities to expand coverage and improve public awareness. “There’s still a lot of work to be done and everyone has a role to play, especially the regulators and the other advocates in the industry,” she said.

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Nigeria’s Flamingos Set to Make U17 World Cup History against Brazil Nigeria’s Flamingos are one game away from reaching the final of the FIFA U-17 Women’s World Cup in Morocco, but standing in their way is an illustrious juggernaut - Brazil. It is a semi-final that promises plenty of excitement, with both teams

having shown resilience, character and an ability to find their way through difficult moments. For Nigeria, though, this is another opportunity to show how far they have come since arriving in Morocco and how much belief has grown within

the team. The journey has certainly not been straightforward for Hakeem Busari’s side. The Nigeria cadet ladies began their campaign with a disappointing 2-1 defeat to Poland, a result that left them with little room for error in

their remaining group matches. There were questions to answer, and the pressure was already building. With qualification for the knockout stages hanging in the balance, the Flamingos needed to respond quickly. They did exactly that, grinding out

Osimhen Fires Blanks as Russian Gives Gala Hope of Reaching Knockout Stage Duro Ikhazuagbe Victor Osimhen was in action for all 90 minutes yesterday but failed to hit the back of the net as Galatasaray defeated visiting VfB Stuttgart 2-0 to

RESULTS CHAMPIONS LEAGUE Galatasaray 2-0 Stuttgart Atletico 0-2 B’Munich Shakhtar 0-1 Sporting CP Barcelona 3-0 Aston Villa Bodo/Glimt 0-0 Lille Feyenoord 0-3 Inter LASK 4-0 Sl’Bratislava Man Utd 3-2 AS Roma Villarreal 0-6 PSG

TODAY AEK Athens v R’Madrid Fenerbahce. Liverpool Dortmund v Betis FC Porto v Napoli Lens v Como PSV v C’Brugge RB Leipzig v Man City Sl’Prague v Arsenal Viking v Sabah FC

EUROPA LEAGUE Rennes v Olympiacos U17 World Cup Japan v North Korea Brazil v Nigeria

C H A M P I O N S L E AG U E boost their hopes of reaching the UEFA Champions League knockout stage. Instead of Osimhen, it was Galatasaray’s Russian forward, Aleksey Batrakov, who fired the two goals in the space of three first-half minutes, that gave the Turkish champions their second win in Europe this season. The defeat was the first for Stuttgart this season having won two and drew one in their three previous games in the Champions League. Batrakov opened the scoring in the 12th minute when he fired home an effort after a Roland Sallai cross was cleared to him on the edge of the area. The Russian soon made it two when he was expertly played through by a low pass from deep by former Tottenham defender Davinson Sanchez, before slotting the ball through the legs of visiting keeper Fabian Bredlow. It was a difficult start for Stuttgart. Jamie Leweling nearly opened the scoring for the German side, but his low finish struck the far post, rebounded on to the near post and bounced to safety. They struggled to deal with the relentless Galatasaray pressure and relieved the hosts were wasteful in the final third or they would have extended their lead.

Stuttgart thought they had pulled one back when Chris Fuhrich bent an effort into the far corner from the edge of the area, but his goal was chalked off for an offside in the build-up against Deniz Undav, who had hit the bar.

The result gave Galatasaray backto-back Champions League victories following their 4-2 win at Lille, moving them to six points after four matches, while Stuttgart remained on seven. Okan Buruk’s men host Aston Villa in their next Champions League game on 24 November (17:45 GMT), while Stuttgart are away to Inter Milan on 25 November (20:00 GMT).

a 2-0 victory over Puerto Rico to get their campaign back on track. The real turning point, however, came against defending champions, North Korea. Nigeria produced a performance that announced their arrival as serious contenders, with the Flamingos winning 3-1 and showing confidence, discipline and a level of attacking quality. It was a statement victory, one that not only secured their place in the Round of 16 but also gave the players a huge boost in belief heading into the knockout stages, where they conquered Mexico in a 2-1 win. Against Venezuela in the Round of 8, patience and persistence were required. Chances came and went, and it looked as though the contest might need extra time before Azeezat Oduntan stepped up in the 89th minute to convert a penalty and send Nigeria into the semi-finals. One player Nigeria will certainly

need to keep an eye on in the Brazilian side is Greise Kelly. She has been one of the standout performers in Morocco, scoring three goals and providing five assists. At the other end, Nigeria will once again be looking towards goalkeeper Jane Ijirigho. Her performances have been particularly important during the knockout rounds, with some crucial interventions helping the Flamingos stay in games and progress through difficult moments. Speaking to FIFA.com, Nigeria’s Head Coach Busari described the semi-final berth as a dream come true and an opportunity to make the country proud. “Reaching the semi-finals is a dream come true for me and a great achievement. I’m looking forward to it because I want to make my country proud. We want to give our best in the next match and show everyone what we can do.”

Adegbuyi, Akekoromowei Make 2026 CAF Young Player Shortlist

Lady of Nigeria and Grand Patron, AACT 2026, Senator Oluremi Tinubu, performing the ceremonial Shettima: Nigerians Have Talent First Tee-oﬀ for the 2026 All-Africa Challenge Trophy (AACT) Championship...yesterday in Abuja to Lead the World in Sports

Flamingos rising star Kemi Adegbuyi and Falconets and Benfica striker Janet ‘Semenya’ Akekoromowei have made the 10-person shortlist for the 2026 CAF Young Player (women). Adegbuyi, 16, has been among the goals as the Flamingos reached the U17 World Cup semifinal for only the second time. She has also been outstanding at the WAFU B level as well as in the NWFL. ‘Semenya’, on the other hand, featured for the Falconets at the U20 World Cup in Poland earlier in the year. The other nominees include Grace-Ruth Sery, Rose Kadzere, Adji Ndiaye, Romaine Gandonou and Winfrida Gerald

Charges new CAF Scribe, Adamu, to project First Lady: Our Third Time Hosting Shows Continent’s Trust in Nigeria’s Capacity Performs ceremonial tee-off at IBB International Golf and Country Club Abuja African football, protect Nigeria’s interests Deji Elumoye in Abuja Vice President Kashim Shettima has declared that Nigerians possess the talent and capacity to occupy leadership positions in global sports, describing the appointment of Mr Samson Adamu as the first Nigerian General Secretary of the Confederation of African Football (CAF) as further evidence of the country’s potential for international leadership. The Vice President said Nigeria’s sporting achievements have been driven by the quality of its people, the dedication of sports administrators and the institutions that discover, nurture and project Nigerian talent onto the global stage. Speaking on Tuesday at the State House, Abuja, while receiving the newly appointed CAF General Secretary and a delegation led by the Chairman of the National Sports Commission, Malam Shehu Dikko, Shettima congratulated Adamu on his appointment and charged him to distinguish himself through exemplary leadership and service to African football. According to him: “Our nation has earned its place in the world of sports. We have flown our flag in arenas where few expected us to perform magic and we have made the impossible appear

almost familiar, fundamentally because of the quality of our people.” Conveying President Bola Tinubu’s goodwill, the Vice President described Adamu as a role model for young Nigerians and urged him to approach his new responsibilities with diligence, integrity and a strong sense of national pride. “The President is proud of you Samson Adamu, Go and do a yoman’s job. Go and promote, protect and project and preserve the interest of the Nigerian nation. So Samson I wish you all the best. “Football especially is a uniting force in this country. Anytime Nigeria plays, it tends to subsume all other identities. Football and sports generally is a source of unity for our country. What binds us together superseded whatever divides us.” He maintained that Nigeria’s diversity remains a source of strength, stressing that the country’s social and historical bonds are deeper than the divisions sometimes emphasised in public discourse. Shettima praised the oftenunrecognised contributions of officials, coaches, talent scouts and administrators whose work provides the foundation for Nigeria’s sporting achievements.

Deji Elumoye in Abuja Wife of the President, Senator Oluremi Tinubu, has stressed that Nigeria’s hosting of the All-Africa Challenge Golf Trophy 2026 for the third time is a testament to the confidence the continent has in the Nigeria’s capacity. The First Lady, who spoke Tuesday at the official opening of the championship held at the IBB International Golf and Country Club Abuja, said she was delighted and proud that Nigeria was hosting this prestigious championship for the third time. According to her: “This is a testament to the strong confidence the African golfing community places in our nation’s capacity, unity, and sporting excellence”. With 20 African countries present for the championship, she pointed out that golf transcends borders and cultures. “The theme, “Uniting Africa Through the Greens,” reminds us that golf transcends borders and cultures, bringing us together in a celebration of sisterhood, excellence, and our shared African identity”. Mrs Tinubu commended the Ladies Golf Association of Nigeria for introducing the Girls in Golf

ALL-AFRICA CHALLENGE GOLF Legacy Project. “As a mother and advocate for women and girls, I commend the Ladies’ Golf Association of Nigeria for the Girls in Golf Legacy Project, which will introduce 300 young girls to golf across the six geopolitical zones in Nigeria and open new opportunities

for the next generation”. While wishing the visiting Female Golfers the best outing at the championship, the First Lady urged them to explore Nigeria’s beautiful landmarks, experience its rich culture, and enjoy the warmth and hospitality of the people. “To our remarkable female golfers,

you are an inspiration to the womenfolk. Play with passion, compete with integrity, and let sportsmanship guide every stroke. “As you compete, may the best team win, and may our bond as one Africa grow even stronger”. Various speakers, including the President of the Ladies Golf Association of Nigeria, Dr Lami Onayi; President, Nigeria Golf Federation, Otunba Segun

EL-Amin Earns 17th Georgian Cup Title, Wins Argentine Ambassador’s Cup Kaduna teams sweep top laurels at the tournament The 2026 Kaduna International Polo Tournament that celebrated the 31st anniversary of EL-Amin and the rich heritage of Nigeria polo came to a flourishing climax with the team setting up an all-time record of 17th Georgian Cup victory. The international Polo Tournament highlighted an historic, record-setting edition that concluded at the legendary Murtala Muhammed Square in Kaduna, with Kaduna Sublime defeating determined oppositions to clinch the

2026 KADUNA INTERNATIONAL POLO glittering Emir of Katsina Cup. Marking its107th anniversary, the tournament featured an extended 10-day high-octane format for the first time in its century-plus history, attracting over 40 teams and top-tier professional players from Argentina, Europe, and South Africa. Kaduna Musaco ran an impressive campaign defeating a crowded field of ambitious oppositions to cart home

the Imani Cup. Duku Rocks polo team rampaged through a battery of turbo charged rivals, to clinch the popular EL- Amin Cup. Defending champions El-Amin secured their new Georgian Cup title after they were held to a thrilling 10-10 draw by rivals Malcomines in the last game of the tournament for the Argentine Ambassador’s Cup and won the laurel on toss.

THISDAY • WEDNESDAY, NOVEMBER 4, 2026

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TOUR OF CAVERTON MRO/TRAINING CENTRE...

L-R: Chief Operating Officer, Caverton Offshore Support Group ( COSG), Rotimi Makanjuola; incoming Chief Executive Officer, Stena Bulk, Philip Eriksson; Chief Executive Officer, Stena Bulk, Erik Hanell; Head of Stena Sonangol Suezmax Pool, Jawert Johan; Board Member, Sonangol Trading and Shipping, Domingos Fernandes, and Chief Executive Officer, COSG, Olabode Makanjuola, during the tour of Caverton MRO/ Training Centre in Ikeja, Lagos...yesterday

TUNDERAHMAN Inside The Ka’Abah: A Rare Honour And The Message From Makkah GUEST COLUMNIST

hen President Bola Ahmed Tinubu arrived in Makkah, Saudi Arabia, on Thursday for Umrah, the lesser Hajj, it was a private spiritual journey. By Sunday, it had become a moment of national symbolism. In a rare gesture reserved only for visiting Heads of State, monarchs and top dignitaries, the Saudi Royal Court ordered the doors of the Holy Ka’abah to be opened for the Nigerian President on Sunday, November 1, 2026. It is a privilege granted only a few times a year. Accompanied by several state governors, his son Yinka, captains of industry, including BUA Chairman Abdul Samad Rabiu and Oando CEO Wale Tinubu, and other officials, President Tinubu entered Islam’s holiest site, the Ka’abah, offered prayers, and kissed the Black Stone (Hajar al-Aswad). For those of us who were there, it was an emotional moment. The symbolism was unmistakable. The Kiswah fencing around the Ka’abah was draped in Green-White-Green, the Nigerian national colour. After arriving late on Thursday, President Tinubu, dressed in white Ihram, performed the Umrah rites early on Friday, October 30, at Masjid al-Haram. He circled the Ka’abah seven times and went further to perform the Safa and Marwa rituals. Afterwards, he prayed for peace, unity, stability, and prosperity for Nigeria. But his interview after entering the innermost part of the Ka’abah frames the moment in political terms. In an interview with the Nigerian Television Authority Correspondent Musbau Dan-Wahab, who covered the Umrah, President Tinubu said the pilgrimage had strengthened his commitment to building a prosperous Nigeria. He thanked the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman for the honour. “I want to say a big thank you for the faith, for the recognition. I can’t believe the fencing of the Ka’abah is in Green-White-

President Bola Tinubu Green, which reminds us of the Nigerian identity,” the President said. “It is an honour that I enjoyed, and it is gracious of them to have allowed me to enter inside the Ka’abah. This is history,” he added. When asked what he prayed for inside the Ka’abah, his answer was telling: “Well, I asked for wisdom and resilience to continue to serve the people. And I know that prayer has been granted.” Alhaji Abdul Samad Rabiu, who entered with the President among others, described it as an “honour beyond measure” and a once-in-a-lifetime blessing. The businessman had performed many Hajj and Umrah, but he had never been allowed inside the Ka’abah. The same was true for virtually everyone in the Nigerian delegation. Late President Muhammadu Buhari and his delegation enjoyed that honour too, as the Saudi authorities granted them access to enter and pray in the inner chambers of the Ka’abah in February 2016 during an official visit to Saudi Arabia. For President Tinubu, this is a fulfilled vow. For any Muslim, stepping inside the

Ka’abah is a once-in-a-lifetime spiritual fulfilment. Although this just-ended Umrah was not President Tinubu’s first, it was his first inside that sacred Ka’abah. He has performed many Umrahs, including one before the 2023 election and another after the poll. During an official visit to Riyadh in November 2023, he made time to go to Makkah for Umrah, then proceeded to Guinea-Bissau. During his visit to Makkah before the 2023 elections, he prayed for Allah’s blessings and grace, promising to return to express his gratitude to God if he won. The 2026 return completes that spiritual circle. However, beyond the spirituality behind Sunday’s entry into the inner chambers of Ka’abah, the Saudi gesture towards President Tinubu bears a few implications. These fall into three categories: a strong diplomatic signal, political resonance, and moral renewal for governance. On the diplomatic front, the opening of the Ka’abah, outside its traditional ceremonial schedule, is a state honour, not a tourist gesture. It is a clear sign of the high esteem in which Saudi Arabia holds Nigeria. Saudi Arabia’s decision to grant the honour to President Tinubu, at a time Nigeria is seeking more investment, increased oil cooperation, and a larger Hajj quota, signals that the bilateral relationship remains strong. President Tinubu described it as a reflection of the two countries’ longstanding friendship. At the political level, the images of President Tinubu in Ihram inside the Ka’abah praying for Nigeria will resonate deeply across Northern Nigeria and among Muslim voters nationwide. Coming just days after his campaign flag-off on October 24 in Kaduna, it reinforces his identity as a leader who respects faith and tradition. In a January 2027 contest where faith and Northern votes will be decisive, this spiritual moment will be politically priceless. The Northern Muslims will see in the race a Muslim honoured at the holiest site in Islam. His expanding Christian base in Southern Kaduna, the Middle Belt, and the South-East will also see a President who

prays for all in Makkah. This neutralises the old religious debate where one candidate campaigned solely on ethnic and religious grounds. There is also the moral renewal of commitment to governance. President Tinubu himself sees it as a recommitment. The President has demonstrated a strong commitment to reforming and improving Nigeria’s governance story. From the removal of the fuel subsidy, eliminating many foreign exchange windows, stabilising the naira and modernising the taxes, to improving workers’ welfare through a minimum wage increase, credits for civil servants under the Creditcorps scheme, clearing pension backlogs, providing student loans, and ensuring timely graduation for tertiary institution students, the Tinubu administration is keeping the promise and steadily resetting the Nigerian economy. Now, he says, “My commitment to Nigeria is stronger than ever.” And after praying for wisdom and resilience in Ka’abah, he is returning to Nigeria to face the final stretch of reforms and a campaign that promises to be heated. On arrival, he would first visit Akwa Ibom to commission some projects. Then he would head to Port Harcourt, Rivers State, for the campaign on Saturday, November 7. As the 2027 race intensifies, the image of President Tinubu inside the Ka’abah, praying for Nigeria, will be more powerful than any campaign billboard. That image indicates that leadership is not just political. It is spiritual. Indeed, from the Ranchers Bees Stadium in Kaduna, the heartland of Northern Nigeria, to the inner recesses of Ka’abah in Makka, the cradle of Islam, President Tinubu has, in the last two weeks, framed his re-election message in two powerful arenas- the political and the spiritual-. Is there any reason to think that victory in 2027 is not already guaranteed? •Rahman, Senior Special Assistant to President Tinubu on Media and Special Duties, is a Fellow of the Nigerian Guild of Editors.

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