₦airaland Forum

Kwankwaso denies joining APC, but admits he ‘might work with Tinubu’

Shawarmagirl:
Without Governor, Senate, HoR and others, Peter Obi won. So they should focus more on the electorate and leave the governors who can only influence his household.

Two senators from Akwa Ibom State, Sampson Ekong representing Akwa Ibom South and Aniekan Bassey representing Akwa Ibom North-East, have officially defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).

Senate President Godswill Akpabio read their letters of defection during plenary on Wednesday.

The development comes just days after two senators from Osun State, Olubiyi Fadeyi and Francis Fadahunsi, also resigned their membership of the PDP over unresolved internal party crises but did not indicate their next political move.

Fadeyi, who represents Osun Central, announced his resignation in a letter dated July 12, 2025, addressed to the PDP Ward 3 chairman, Oke Ejigbo, Ila Orangun, Osun State.

The letter partly read, “I wish to formally notify you that I am resigning my membership of the Peoples Democratic Party (PDP) with immediate effect. Irreconcilable differences and irreparable division that have emerged and court cases and counter court cases in the last 3 years, which have created faction in the party at the national level. This was concluded after consultation and engagement with my political associates, family and friends.”

Similarly, Fadahunsi, who represents Osun East, tendered his resignation in a letter dated June 12, 2025, which surfaced on social media on Saturday. He also cited persistent crises and protracted legal battles within the PDP as his reason.

yarimo:
Shay ADC is not worth adopting and that is the home state of ADC interin national secretary the hijackers

The governor, In a statement, announced their endorsement of President Tinubu for the 2027 re-election, acknowledging him as a distinguished son of the state.

The statement reads: “Yesterday, I met with the
@OfficialPDPNig
Leadership Caucus in Osogbo after weeks of consultations with stakeholders across Osun — from traditional rulers and civil servants to market leaders and grassroots party members.

“I’m pleased to share the resolutions:

“I remain in the PDP, the party that gave me the platform to serve the good people of Osun.

“I have been unanimously endorsed by the Osun PDP for a second term in 2026.

“PDP remains the most popular and trusted party across Osun State.

“I will continue to deliver on our Five-Point Agenda with renewed focus and dedication.

“The love and support from the people of Osun continues to inspire me. Together, we move forward.

“Our party in Osun has also endorsed President
@officialABAT
for re-election in 2027, recognizing him as a proud son of our state.”

Another PDP House of Representatives member defected to the APC today.

Hon. Esset Mark Udo, the member representing Uyo/Uruan/Nsit Atai/Asutan/Ibesikpo federal constituency, Akwa Ibom State, officially defected from the PDP to the APC today in the Green Chamber.

Another PDP House of Representatives member defected to the APC today.

Hon. Esset Mark Udo, the member representing Uyo/Uruan/Nsit Atai/Asutan/Ibesikpo federal constituency, Akwa Ibom State, officially defected from the PDP to the APC today in the Green Chamber. pic.twitter.com/brwbzyGTt9

— Imran Muhammad (@Imranmuhdz) July 22, 2025

yarimo:
Bitter ones will soon invade this thread with insults and hateful comment against the emir

Ikaeniyan0:
He governed Anambra state for 8 years, there's nothing to show for it

The naira continued its recent streak of relative stability, closing the gap between the official and parallel exchange markets.

On Friday, the currency traded at N1,535 to the dollar in the parallel (black) market, just N1 less than the N1,536/$1 rate recorded at the official market.

Data on the Central Bank of Nigeria’s (CBN) website shows the naira closed at N1,536/$1 on Thursday, a depreciation from N1,531/$1 on Wednesday.

The naira traded at N1,540/$1 on Thursday in the parallel market, indicating a 0.33% appreciation by Friday, Nairametrics data shows.

Intra-day trading on Thursday shows that the naira traded highest at N1,538/$1 and lowest at N1,520/$1, according to data on CBN website on Friday.

Foreign reserves hit $37.78 billion
Nigeria’s foreign exchange reserves have climbed to $37.78 billion, up from $37.6 billion — a 0.37% increase — signaling a notable boost in the country’s external asset base. The development comes as part of ongoing efforts to stabilise the naira and attract foreign investment.

The uptick is largely attributed to higher dollar inflows from oil exports, diaspora remittances, and renewed investor confidence driven by recent monetary and fiscal reforms.

Analysts say the slight increase in reserves bodes well for the economy, as it strengthens the Central Bank’s ability to defend the naira, finance imports, and meet external obligations.

Inflation rate decelerates further in June 2025

The National Bureau of Statistics (NBS) reports that Nigeria’s headline inflation rate eased to 22.22% in June 2025, down from 22.97% recorded in May 2025.

The data shows that on a year-on-year basis, the headline inflation rate was 11.97% lower than the rate recorded in June 2024, which was at 34.19%.

The NBS noted that, on a month-on-month basis, the headline inflation rate in June 2025 stood at 1.68%, representing an increase of 0.15 percentage points from the 1.53% recorded in May 2025.

This indicates that the average price level rose at a faster rate in June compared to May 2025.

The percentage change in the average Consumer Price Index (CPI) for the 12 months ending June 2025, compared to the previous 12-month period, was 26.58%—a 3.42 percentage point decline from the 30.00% recorded in June 2024.

What you should know
CBN has announced that the 301st meeting of the Monetary Policy Committee (MPC), the country’s apex decision-making body on interest rate policy, will be held on Monday, July 21, and Tuesday, July 22, 2025, at its headquarters in Abuja.

At the 300th MPC meeting held in May 2025, the CBN opted to maintain a conservative stance, keeping the Monetary Policy Rate (MPR) unchanged at 27.5%.