[quote author=AMIN.DA post=139591865]With his vitriol against the entire Fulanis, he will only succeed in giving Atiku more sympathy votes among the Muslim North and ensure Atiku inherits Buhari’s bloc votes. It has already started.
2027: Tinubu will win landslide, I won’t support Peter Obi – Babachir Lawal
Former Secretary to the Government of the Federation, SGF, Babachir Lawal, has predicted a landslide victory for President Bola Tinubu in the 2027 general election.
Lawal made the remark while speaking on Channels Television’s Politics Today on Monday, shortly after announcing his resignation from the African Democratic Congress, ADC, in a post on his Facebook page.
The former SGF said he had decided to step away from active politics, citing dissatisfaction with the way politics is practised in Nigeria.
According to him, he would rather focus on other pursuits, including agriculture and church-related activities.
“I’ve just come to the conclusion that in Nigerian politics, everybody is… I don’t understand how it’s practised. I don’t know how it should be practised. Maybe there are some Nigerians who know to run their things. I don’t want to be part of anything again,” he said.
Lawal, who was a member of the opposition coalition that recently adopted the ADC as its political platform, argued that Tinubu would be difficult to defeat in the next election.
“Tinubu will win with landslide. If the parameter for winning the election in Nigeria is rigging, nobody can face Bola Tinubu.
“If Atiku’s strength is in manipulating results, he will meet the master leader in the front next year. And so they will be all the worse for it,” Lawal stated.
The former SGF also added that he won’t be supporting me Peter Obi of the Nigeria Democratic Congress, NDC. He said didn’t want to be part of anything again.
“I won’t support Peter Obi. I don’t want to be part of anything again,” Lawal said.
EgungwuChukwuka: Ojude Oba: How a Palace Thank-You Became Africa’s Cultural Pageant By Egungwu Chukwuka Benjamin Every year, on the third day after Eid al-Adha, Ijebu Ode changes. The historic town known for its calm pace becomes loud with talking drums, bright Aso Oke, and the thunder of horses. This is Ojude Oba, literally translated as “the King’s Forecourt,” a festival that grew from a single family's act of gratitude into one of Africa's most dazzling cultural spectacles. Historical records trace the roots of Ojude Oba to the late 19th century, during the reign of Awujale Ademuyewo Afidipote. When Islam began to flourish in Ijebuland, the monarch showed great wisdom by granting Muslim converts the freedom to practice their faith openly without persecution. Among these early converts was Chief Balogun Kuku, a legendary warrior and prominent leader. Because of his new faith, Kuku could no longer take part in traditional festivals such as the Odeda festival, where worshippers of various traditional deities gathered to pay homage to the king. In the early 1880s, determined to show loyalty to the crown while honoring his new faith, Balogun Kuku led his family, friends, and Islamic followers to the palace courtyard. They came to pray for the Awujale’s long life and to thank him for the religious liberty they enjoyed, birthing what was initially called the Ita-Oba festival. What began as a modest Muslim procession of gratitude quickly struck a chord with the wider community. Over the decades, neighbors, friends, and Christian converts joined the annual march to the palace. Today, Ojude Oba has outgrown its purely religious origins. It is now a grand arena where Muslims, Christians, and traditional worshippers stand side by side, bound by a shared Ijebu ancestry. The flawless organization of the festival rests on the shoulders of the Regberegbe, the traditional age-grade societies that form the bedrock of Ijebu social structure. These groups consist of men and women born within the same three-to-five-year window, a system revived in the modern era by the Paramount Ruler, His Royal Majesty Oba Sikiru Kayode Adetona, to foster community development and solidarity. The Regberegbe turn the festival into a masterclass in high fashion and friendly rivalry. For months leading up to the day, each age grade secretly brainstorms colors, patterns, and fabric textures with local weavers and designers. An unwritten rule governs the preparation: no group repeats the cloth or design of the previous year. When they step into the grand arena of the Awujale Pavilion, the result is a breathtaking sea of hand-woven luxury. Heavy indigo dyes, rich sanyan silk, and brilliantly striped aso oke float across the floor. Within each Regberegbe, wealthy merchants and ordinary citizens dress identically, reinforcing an egalitarian bond where peer solidarity eclipses individual status. If the age grades provide the elegance, the descendants of the Baloguns, the war chiefs, and the Elesins, the master horsemen, bring the thunder. The biggest moment at Ojude Oba is the horse parade. It is a bold, colourful show that reminds the town of how its warriors once protected the kingdom. Riders from more than twenty noble families enter the arena on horses dressed in rich, detailed cloth. They fire old guns into the air. The smell of gunpowder spreads and you can feel the roar of celebration. The riders wear heavy velvet and clothes stitched by hand. They guide their horses with calm, skilled movements through the crowd. This is Ijebu’s military history kept alive. It isn’t locked in a museum. It lives on in the sons and daughters who carry the old titles. By evening, the dust settles at the pavilion and the arena clears, but the true impact of the day remains. Ojude Oba is more than a single afternoon of pageantry. It is a case study in cultural resilience, a blueprint showing how an ancient African kingdom can utilize modern media, corporate sponsorships, and global visibility while keeping its heritage untainted. As the images of horsemen and vibrant textiles travel across smartphone screens worldwide, they tell a timeless story. Ojude Oba is proof that history is not just something the Ijebu people remember. It is something they wear, ride, and proudly carry into the future. NB: Historical details in this article are drawn from published accounts of the Ojude Oba Festival, oral traditions of Ijebuland, academic studies, and publicly available cultural records. 🎥 Credit: Elejo Shot it & John Mokan
If you have attended Ojude Oba before, what’s the one moment you will never forget, the horses, the fashion, or the music?
Fareke: I Am Awaiting FG’s Approval To Dislodge Criminals From SW Forests - Igboho by Fareke(op): 9:45pm On May 31 Yoruba nation activist, Sunday Adeyemo, popularly known as Sunday Igboho, on Monday, said he was still awaiting the Federal Government’s approval for the take-off of his security outfit, “Iru Ekun Security Network,” as part of the moves to dislodge criminal elements from South-West forests.
He also expressed his readiness to comply with the Executive Order recently issued by the Oyo State Government, under the leadership of Governor Seyi Makinde, to regulate the activities of private security firms in the state.
Igboho, who made this known in a statement issued in Ibadan, the state capital, stressed that all necessary documents and procedural requirements needed for the approval of “Iru Ekun Security Network” had been submitted to the Federal Government.
The PUNCH Online reports that Makinde signed into law Executive Order 001 of 2026 on the Regulation of Associations, Groups and Organisations offering Security and Allied Services in the state on Wednesday, May 20.
Makinde said the move was necessary to ensure that all groups and associations involved in security-related activities, such as vigilantes and other community-based security groups, operate within a clear legal and operational framework that supports peace, order, and the rule of law in the state.
The governor said the executive order became necessary in view of the growing security challenges confronting communities and the increasing number of groups engaging in security-related activities without proper coordination.
Igboho, in a statement in Ibadan, on Monday, said, “We have submitted all the required documents for our registered security firm, ‘Iru Ekun Security Network’, and are only waiting for the Federal Government’s approval, which will be granted soon.
"We are absolutely ready to collaborate with the Police, Department of State Service, Nigeria Army, Nigeria Security and Civil Defence Corps and other relevant stakeholders in the security sector to flush out terrorists, kidnappers, bandits, and other hoodlums, who are threatening the peace and safety of our people, most especially in the rural communities.”
He, therefore, commended President Bola Tinubu for his resolve and commitment to rejig security architecture in the South-West and Nigeria at large.
Igboho said, “It is obvious that President Bola Tinubu’s administration is resolutely committed to tackling criminalities not only in the South-West but also in all other regions plagued by insecurity.
“Besides, I want to state that we are also ready to comply with the new Executive Order issued by Governor Seyi Makinde to regulate the activities of private security concerns. We are ready to support and cooperate with measures aimed at strengthening the security and peace in Oyo and other states in Yorubaland.
FarSide: So, last week, I was involved in an accident with my new car. The victim, a boy of about 10 years laid lifeless on the road. Though it wasn't my fault but that a story for another day...
At first I thought it's just an accident, maybe if the boy dies, the parents will now carry him and burry. And maybe at worst, it's a bad name, people could be suspecting me of murder... Anyways their opinion I thought. After all it's not my fault .
But then something struck me. I have no driving license! That's when I realized I could be in for a long thing. How can I clear myself at the police station. I could be charged for murder and I will be doing a prison term for it.
At that moment, I started sweating profusely. I realized a single act of negligence (failing to get a driving license) could land me in serious trouble.
But then, my African instinct came in, a consolation I thought. I said to myself, if this boy dies, I will be going straight to a driving school that promised to help me process my driving license and get it instantly at any cost. With that my offense could be dismissed as just an accident.
Well, lucky me, I took the boy to the hospital and he survived. Drove home and grounded the car. Moved straight to the driving school to process the license. To my greatest surprise, they only gave me an enrollment form to fill that day and told me the process will be continued after 26 working days!!! I was like "sir, is there no way to fast track this?" He said no way. That was when I realized there is no shortcut to freedom had the boy died from the accident. Well, I'm still patiently waiting to continue the processing and get a valid license. Though I drive the car once in a while but I'm extremely cautious. And I pray my chi will see me through.
Lawyers in the house, what do you think would have been my punishment??
My fellow new drivers, do well to get your license asap.
nlfpmod: Football Legend John Fashanu’s daughter weds billionaire Heir Mohamed Odaymat
Legendary Footballer, John Fashanu’s daughter, Amal, has married Mohamad Odaymat, heir to a Ghanaian billionaire family. They had their court wedding on May 7.
Amal shared lovely photos from their wedding on social media.
In a recent interview, Amal disclosed that she was introduced to her husband by one of her best friends. She said she had been single for four and was deeply in search for a partner when her husband came along. Amal mentioned they dated for nine months before they got engaged and then got married.
Mohammed Odaymat. Odaymat sounds Turkish. The dude is a Muslim and she'll have to change to his religious beliefs to conform if he's NOT a 100% liberal type. I have this gut feeling that the marriage will NOT last for long. The vibes are very visible in the photographs of Amal's skimpy wedding dress.
Nice to read about the iconic British-Nigerian soccer international, John Fasanu after such a long time though. John Fasanu and his late brother Justin had a Nigerian father of ethnic Yoruba descent and a mother from Guyana... Just like Rihanna Fenty who's mother also hails from Guyana (near Barbados where her Bajan father hails from).
Have you ever wondered why humans have different skin colors? The answer will shock you.
In 1903, workers in England dug up a 10,000 year old skeleton — Cheddar Man — Britain's oldest human (10,000 years old). Scientists expected to find pale skin. Instead, DNA analysis revealed something extraordinary. Dark brown skin. Blue eyes. The first Britons looked nothing like modern British people. So how did human skin go from universally dark to the spectrum of colors we see today? The answer isn't race. It isn't geography. It's one molecule — melanin — and one hormone — vitamin D — that silently rewrote the color of human skin forever.
In this video we explore:
Why every human alive 300,000 years ago had dark skin
How migration to northern Europe created a deadly vitamin D crisis
Why dark-skinned Europeans survived for 35,000 years without changing color
How agriculture — not sunlight — was the real trigger for pale skin
The single mutation A111T that changed the color of an entire continent
Why East Asians became lighter through completely different genes
What Cheddar Man's DNA revealed about ancient European appearance
This is the real science of skin color evolution — written in DNA, triggered by grain, and solved independently on two continents.
ogugwa1992: Public Approval of President Tinubu Stands at 30.2%, EBDA Mid-Term Survey Finds
Public Approval Of President Tinubu Stands At 30.2% - EBDA Mid-Term Survey Finds by ogugwa1992(op): 8:25am Public Approval of President Tinubu Stands at 30.2%, EBDA Mid-Term Survey Finds
Nationwide poll shows worsening economic experience is the dominant driver of public sentiment
ABUJA, Nigeria, 29 May 2026 — Exactly three years after his inauguration, public approval of President Tinubu stands at 30.2%, according to a nationwide survey released today by Eagle Badger Data Analytics (EBDA). Some 47.5% of respondents disapprove, 18% are neutral, and 4.4% declined to answer. Compared with EBDA’s mid-year survey twelve months ago, approval has fallen seven points and disapproval has risen four. The survey’s central finding is that lived economic experience is the single strongest predictor of how Nigerians rate their president, outweighing every other factor measured.
Regional and Demographic Picture Approval is uneven across the country. It is highest in the North East (39.2%) and stands at 37% in both the South West and North West, with the North Central at 30.3%. It is lowest in the South East (16.5%) and the South South (13.5%), where disapproval reaches 62.9% and 59.8% respectively. These southern readings are consistent with the previous wave, suggesting a settled rather than volatile pattern. The only demographic and regional group to record net positive approval is South West respondents aged 56 and above, at +18.7%. Among working-age Nigerians nationally, disapproval runs at 63.6%.
Economic Experience: The Dominant Variable For the first time, EBDA asked whether respondents’ economic situation today is better or worse than it was three years ago. The responses were emphatic: 62% say they are worse off, against 23.3% who say they are better off. In the South East, 78.5% report deterioration; in the South South, 75.5%. Nationally, 42.4% say they are much worse off, more than five times the share who say they are much better off.
The cross-tabulation between economic experience and approval is stark. Among those who say their situation is much worse, 73.2% disapprove. Among those who say their situation is somewhat better, 70.7% approve. The relationship is near-linear across all five economic categories.
“A single approval number tells you the temperature. The zonal and economic cross-tabulations tell you where sentiment is concentrated, and what is shaping it. That second question is the one policymakers and government should care about. — Sharon Orisakwe, MD, EBDA”
Why the Recovery Is Not Yet Felt Macro indicators have improved on most measures: headline inflation has fallen from a peak of 34.8% in December 2024 to 15.7% by April 2026; real GDP growth has risen above 4%; the naira has recovered from ₦1,740 to around ₦1,370 to the dollar. Yet the World Bank reports that the share of Nigerians living in poverty rose from 56% in 2023 to 63% in 2025, placing roughly 140 million citizens below the line. EBDA’s finding that 62% of respondents say they are worse off sits within one percentage point of that poverty estimate.
The explanation is the difference between a falling rate and a falling price. Disinflation means prices are rising more slowly, not that they are falling. Since May 2023, the general price level has risen roughly 80% and food prices by more than 90%. A bag of rice that cost ₦35,000 in mid-2023 still costs around ₦80,000 today. The minimum wage rose from ₦30,000 to ₦70,000 over the same period; petrol rose roughly sevenfold; the exchange rate roughly tripled. Macroeconomic stabilisation and household purchasing power have moved in opposite directions.
“The two indicators are not in conflict. They are measuring different things, and the distance between them is itself the policy problem government is yet to resolve. — Sharon Orisakwe”
Global Comparative Context Incumbent approval has weakened across much of the world. US President Donald Trump stands at 36% approval; UK Prime Minister Keir Starmer at 23%; French President Emmanuel Macron at a record low of 18%. South Africa’s Cyril Ramaphosa stands at 38%. The sharpest contrast is Ghana, where President John Dramani Mahama records 67% approval across every region, following a 32% cedi appreciation against the dollar and a fall in inflation from 23.8% to 5.4% in 2025. The pattern is consistent: where macroeconomic gains have reached household prices and incomes directly, approval has followed. Where they have not, it has not.
Implications for Policy The evidence points to a clear conclusion. Sentiment is unlikely to shift in response to improved macroeconomic data alone. It will respond to changes households can observe directly: stable or falling prices for staple goods, restored security in productive rural areas, and incomes that keep pace with the cost of living.
“The most important finding in this survey is not the approval figure. It is the strength of the link between economic experience and public sentiment. Until that experience improves at the household level, sentiment is unlikely to move, whatever the aggregate indicators show. — Sharon Orisakwe”
Methodology: Fieldwork was conducted by telephone in April 2026 using proportionate stratified random sampling across all six geopolitical zones, in respondents’ preferred languages. Margin of error ±3% at a 95% confidence level.
About EBDA: Eagle Badger Data Analytics is a Nigerian research and analytics firm specialising in public opinion measurement, economic sentiment tracking, and data-driven policy analysis.
If the largely APC governments at different levels from the FG, States, and LGAs are wise, they would get down to business of taking care of the MICRO-Economy. They've significantly stopped the instability in the MACRO-Economy by the stability in the FX rates for over 1 year now and prior to that, manufacturers and investors could NOT plan properly and more. By deploying massively the cheaper CNG to crash the cost of haulage of foods from the farm gates and other goods especially to major urban centers of Lagos, PH, Ibadan, the FCT, Kano, etc, and introduce more advanced weapons such as attack and surveillance drones fitted with infra-red devices to pick the images (in the thick and wide forests) of the foreign Fula militia bandits and Tuareg Lakurawa militia bandits including ISWAP Islamists.
This would enable people to reclaim their ancestral homelands in Hausaland and the Middle Belt of Nigeria stolen by these foreign bandits and go back to the farms to make huge incomes for themselves in Benue, Plateau, Zamfara, Niger, Kwara, Kogi, Kebbi, etc.
If APC goes into elections in 7-8 months time, they'll likely lose. To avoid the prospects of an impending loss of Presidential and Gubernatorial elections, CNG, price monitoring of high cost of house rentage, and insecurity MUST be tackled and Nigerians would have no choice BUT to reelect APC at nearly all levels. A word is enough for the wise. I believe that President 'Bola Tinubu should make the highly cerebral lawyer and former Governor of Lagos State, Babatunde Raji-Fashola his new Chief-of-Staff to offer rapid-fire solutions as I have my doubts about 'Femi Gbajabiamila's abilities here. Nuhu Ribadu too has to be relieved as the NSA to gain better perspectives in the critical war on foreign Fula militia bandits. Period.
US President Donald Trump's administration is preparing to print a new $250 bill that would feature a portrait of him, if lawmakers allow the move.
Federal law bars printing US money with the image of a living person, but Trump allies in Congress have introduced legislation that would make an exception.
A Treasury Department spokesperson told the BBC the agency "is conducting appropriate planning and due diligence" in response to the legislation.
The lawmakers behind it said the bill amount would symbolise the country's 250th anniversary this year. If approved, it will be the latest example by Trump and his allies to put his face, name, and likeness on national institutions and symbols.
Artistic concepts of the $250 bill have not been publicly released but designs have been requested by the Bureau of Engraving and Printing (BEP), a sub-agency of the Treasury that develops and produces US currency. The Washington Post first reported the Treasury Department's plans.
"Should this legislative mandate be signed into law, the BEP is moving proactively to produce a $250 commemorative note which will appropriately recognize the 250th Anniversary of our great nation," the Treasury spokesperson said in a statement.
Trump's signature is already set to appear on US paper notes as part of the nation's semiquincentennial celebrations.
The new legislation was introduced last year by US House Representative Joe Wilson, a Republican from South Carolina. It would need approval from both the US House and Senate.
When asked about a possible new bill during a White House briefing on Thursday, Treasury Secretary Scott Bessent said "it's all in the hands" of Congress and that, while his department was preparing in case the legislation passes, the Treasury would follow the law.
He also said he did not "think there's anything untoward" about having an image of the person in office during the country's 250th anniversary on a bill marking the anniversary.
The move to create the $250 note could also break with a different federal law that specifies the denominations that can be produced. That law doesn't include $250.
The $100 bill, featuring Benjamin Franklin, one of the US founding fathers, is the largest bill printed today. The US has previously issued larger notes including $500, $1000 and $10,000 notes but these were discontinued in 1969. They remain legal tender but not in circulation, as they are largely kept by private currency collectors.
Since taking office last year, Trump and his allies have worked to put his face, name, and likeness on public buildings and US symbols.
The Kennedy Center was renamed to include Trump's name, and his portrait will feature on US passports. The presidential jet Air Force One is also being repainted in Trump's preferred colours. https://www.bbc.com/news/articles/clypeyx6nemo
Just a 250th anniversary commemorative note of 250 USD.
malali: Five African countries rank among the world’s top 10 borrowers from the World Bank’s concessional lending arm, collectively accounting for $67.8 billion in outstanding debt, according to new data on global exposure patterns.
Five African countries are among the world's top 10 borrowers from the World Bank’s concessional lending arm (IDA), together owing $67.8 billion. IDA provides low-interest or interest-free loans and grants to the poorest countries for development projects like infrastructure, health, and education. Nigeria, Ethiopia, Tanzania, Kenya, and Ghana are Africa's top IDA borrowers, with Nigeria alone owing $18.5 billion. African countries account for nearly a third of the total exposure among the top 10 IDA borrowers, reflecting both their growth potential and reliance on concessional finance.
African economies continue to feature prominently in the World Bank’s concessional lending architecture, with new data on International Development Association (IDA) exposure highlighting both their financing dependence and their centrality in global development flows.
The International Development Association (IDA) is the World Bank’s arm that provides low-interest or interest-free loans and grants to the world’s poorest countries.
Its goal is to help these economies fund essential development projects such as infrastructure, health, education, and poverty reduction programs, using long repayment periods and highly concessional terms to ease debt pressure.
According to the IDA's Quarterly Financial Statements dated March 31, 2026 (Unaudited), outstanding exposure under the World Bank’s concessional lending arm reached $230.8 billion across the top 10 borrowing countries, with lending heavily concentrated in a narrow set of emerging and developing economies.
African borrowers feature prominently in this mix, with five countries alone accounting for 29.4% ($67.8 billion) of the top-10 total—representing nearly half of that group’s combined exposure and about one-third of the overall concessional loan book.
Africa’s presence is particularly notable, with five countries which include Nigeria, Ethiopia, Tanzania, Kenya, and Ghana, ranking among the top 10 global borrowers.
Nigeria leads the continent with $18.5 billion in outstanding IDA exposure, reflecting its persistent infrastructure financing needs and demographic pressures.
Ethiopia follows closely at $14.4 billion, continuing to rely heavily on concessional funding amid ongoing macroeconomic adjustments.
Tanzania and Kenya remain significant borrowers at $14.3 billion and $13.2 billion respectively, while Ghana rounds out Africa’s representation with $7.4 billion.
Taken together, these five African economies account for nearly a third of total exposure among the top 10 borrowers, reinforcing the continent’s dual role as both a high-growth frontier and a major recipient of development finance.
The broader ranking is led by Bangladesh and Pakistan, while India, Vietnam, and Ukraine also feature prominently, reflecting a geographically diverse but highly concentrated lending portfolio.
The concentration of lending within a handful of countries highlights both opportunity and vulnerability in the global development finance system, where large borrowers shape portfolio risk while also anchoring long-term infrastructure and social investment pipelines.
adenigga: FG Cancels $717 Million World Bank Power Loan Amid Blackouts by adenigga(op): 8:37am On May 26 The Federal Government has cancelled $717.7m in undisbursed World Bank financing for Nigeria’s troubled electricity sector, effectively terminating the remaining portion of a $1.52bn power sector recovery programme amid mounting tariff shortfalls, worsening financial pressures, and persistent implementation challenges across the industry.
Documents obtained by The PUNCH from the World Bank website on Monday showed that the cancellation followed a formal request by the Federal Government and a joint decision by both parties to discontinue financing under the Power Sector Recovery Performance-Based Operation due to evolving sector realities and the inability to achieve key reform milestones.
According to the World Bank restructuring paper, the cancelled amount represents the entire undisbursed balance remaining under the programme. “The restructuring will result in the cancellation of the entire undisbursed balance in the amount of $717.7m equivalent, and no further disbursements will be made under the Program following approval of this restructuring,” the bank stated.
The bank also disclosed that the programme’s closing date had been brought forward from June 30, 2027, to May 31, 2026, effectively ending the operation more than a year ahead of schedule. The cancelled facility formed part of a broader World Bank intervention designed to revive Nigeria’s struggling power sector.
The original Power Sector Recovery Performance-Based Operation was approved on June 23, 2020, with financing of about $752.5m equivalent. The programme was structured to improve electricity supply reliability, strengthen the sector’s financial and fiscal sustainability, and enhance accountability among key institutions in the electricity value chain.
Following initial progress recorded under the programme, the World Bank approved an Additional Financing package of approximately $763.5m equivalent on June 9, 2023, to consolidate earlier gains and support a new phase of reforms. The financing became effective on June 19, 2024, and extended the project’s closing date to June 30, 2027.
Together, the original financing and the additional facility amounted to about $1.52bn.
However, while the parent programme achieved substantial results and largely disbursed its resources, the additional financing struggled to meet critical reform conditions, resulting in limited disbursements and eventual cancellation of the remaining funds.
The World Bank noted that Nigeria’s electricity sector continues to face deep-rooted structural challenges despite years of reforms and significant financial support.
The report stated that the sector still suffers from weak distribution performance, transmission bottlenecks, underutilisation of available generation capacity, and persistent financial imbalances.
According to the bank, high technical, commercial, and collection losses across the distribution segment, combined with inadequate cost recovery, have created a recurring mismatch between revenues generated by the sector and its actual operating costs.
“These constraints have created recurrent financing gaps, most notably in the form of tariff shortfalls, which generate liquidity pressures across the value chain and weaken the operational and financial performance of sector institutions,” the report said.
The Federal Government developed the Power Sector Recovery Programme as a framework to restore the sector’s financial viability and reduce its fiscal burden on public finances.
The programme included plans to progressively eliminate tariff shortfalls, improve operational performance among power sector institutions, and strengthen regulatory oversight and accountability mechanisms.
According to the World Bank, implementation of the original operation delivered notable results. The report stated that tariff shortfalls fell by 71 per cent between 2019 and 2022, declining from N581bn to N166bn.
During the same period, regulatory cost recovery improved significantly from 56 per cent to 94 per cent, while annual electricity supplied to the distribution grid increased by 13 per cent between 2018 and 2021.
The bank said all standard disbursement-linked indicators and global indicators attached to the original programme were fully achieved. “Implementation of the parent operation was satisfactory, brought substantial results, and fully disbursed the PforR component as all DLRs were achieved,” the report stated.
Encouraged by those gains, the World Bank approved the additional financing package to address remaining structural weaknesses and deepen reforms under the Power Sector Recovery Programme.
The new facility was expected to support the development of a sustainable financing framework for the sector, improve operational performance through implementation of performance improvement plans, and strengthen governance arrangements among electricity institutions, particularly the Transmission Company of Nigeria.
However, the anticipated reforms failed to materialise within the expected timeframe. The World Bank attributed much of the setback to major macroeconomic developments that dramatically altered the operating environment.
According to the report, the liberalisation of Nigeria’s foreign exchange market in June 2023 triggered a sharp depreciation of the naira, leading to a substantial increase in the cost of natural gas used for electricity generation.
The bank explained that more than 70 per cent of electricity supplied into Nigeria’s national grid is generated using natural gas, whose pricing is denominated in United States dollars.
“The liberalisation of the foreign exchange market in June 2023 led to a significant depreciation of the local currency Naira, which resulted in a big increase in prices of natural gas used to produce above 70 per cent of electricity injected in the national power system,” the report stated.
At the same time, electricity tariffs for most consumers remained largely unchanged despite rising generation costs. The World Bank noted that electricity tariffs had effectively been frozen since early 2023, except for Band A customers, whose tariffs were adjusted to cost-reflective levels in April 2024.
Nigeria, Türkiye sign mining cooperation deal This widening gap between actual electricity production costs and revenues collected from consumers resulted in a sharp increase in tariff shortfalls. According to the report, annual tariff shortfalls rose from a low of N140bn in 2022 to approximately N1.9tn in both 2024 and 2025.
“Due to the mismatch between the electricity generation costs and the sector tariff revenues, the tariff shortfalls increased sharply in the last 3 years, moving from a low of N140bn in 2022 to a high of N1.9tn per year in 2024 and 2025, putting serious pressure on the limited Federal Government of Nigeria’s fiscal space,” the World Bank said.
The report explained that the sharp deterioration in sector finances prevented Nigeria from achieving key global indicators attached to the additional financing package.
The bank noted that the required indicators were not achieved in 2023, 2024 or 2025 because authorities failed to establish a credible and fiscally sustainable financing plan capable of addressing the growing tariff deficits.
According to the report, the absence of a comprehensive financing framework and a declining trajectory of tariff shortfalls made it impossible to satisfy major programme conditions.
The bank stated, “Recent financing plans have not fully identified sufficient sources of funding to cover tariff shortfalls, nor established a credible trajectory for their reduction.”
Apart from financing challenges, implementation delays also contributed to the programme’s difficulties. The World Bank cited delays in aligning performance improvement plans with eligible expenditures, particularly those involving the Transmission Company of Nigeria, as well as challenges linked to verification requirements for key sector institutions.
“These constraints have limited the ability to trigger disbursements even where elements of progress have been achieved,” the report stated.
As a result, broader disbursements under the additional financing arrangement failed to materialise as expected. The World Bank disclosed that overall implementation progress under the additional financing remained “Moderately Unsatisfactory.”
Financial data contained in the restructuring document illustrates the extent of the programme’s underperformance. Under the International Bank for Reconstruction and Development component, the World Bank had committed $449m. However, only $41.24m had been disbursed, leaving $407.76m undisbursed and a disbursement rate of just 9.18 per cent.
Under the International Development Association component, $754.82m had been disbursed out of a total commitment of $1.063bn, leaving $308.53m undisbursed. The bank further noted that while about 95 per cent of the parent operation had been successfully disbursed, only around nine per cent of the additional financing package had been released.
“Of the AF combination of a loan and a credit totalling $763.5m equivalent, only 9 per cent, corresponding to prior results of the PforR, have been disbursed,” the report stated.
The World Bank concluded that the programme’s original design had become increasingly misaligned with prevailing realities in Nigeria’s electricity sector. “Taken together, these developments point to a misalignment between the design of the operation and the evolving implementation context,” the report stated... Source: https://punchng.com/fg-cancels-717m-wbank-power-loan-amid-blackouts
MCentral: The combined balance sheets of Nigeria’s top ten commercial banks expanded to ₦202 trillion (approximately $147 billion) in the first quarter of 2026.
This monumental asset surge reflects broader financial system liquidity, the inclusion of newly acquired regional assets, and balance sheet adjustments forced by the Central Bank of Nigeria’s (CBN) newly completed structural recapitalization cycle.
What’s driving the numbers
Access Holdings led the pack with ₦53.43 trillion in assets, followed by United Bank for Africa at ₦33.13 trillion and Zenith Bank at ₦32.01 trillion.
FirstHoldCo Plc reported ₦26.87 trillion, Guaranty Trust Holding Company ₦18.75 trillion and Fidelity Bank ₦11.35 trillion.
Rounding out the top 10 were Stanbic IBTC HoldCo (₦9.7 trillion), FCMB (₦7.54 trillion; December 2025 figure), Wema Bank (₦5.23 trillion) and Sterling Bank (₦4.07 trillion).
Composition and implications
Investment securities, loans and advances, and cash and bank balances were the major components of the asset bases, underscoring a mix between liquidity buffers and interest-earning assets.
The concentration at the top — with Access Holdings’ balance sheet more than 1.6 times the size of the next largest lender — highlights the increasing scale advantage enjoyed by a few groups, a factor that can drive pricing power in corporate and wholesale markets.
The Top-10 Banking Asset Leaderboard (Q1 2026)
The industry remains heavily top-heavy, with the traditional “FUGAZ” elite five capturing 81.25% of the entire asset pool of the top ten banks.
Macro Implications & Investor Impact
Bigger balance sheets bolster capacity to underwrite large corporate credits and deploy capital across regional opportunities, but they also raise scrutiny on asset quality and capital adequacy as banks chase growth.
Investors will monitor how the largest lenders manage risk-weighted assets, provisioning and funding costs, particularly if macro pressures or higher interest rates test asset-quality resilience.
This scale of capital accumulation however provides a vital protective shield for Nigeria’s broader economic system as it enters the second half of the year.
Fund Syndication Moats: The ₦202 trillion asset base allows the local banking industry to single-handedly anchor mega-scale real-sector projects. High-profile transactions like the upcoming $11 billion Dangote Refinery expansion can now be comfortably syndicated internally using localized trade finance structures.
The Frontier Inflow Window: These immense asset sizes line up perfectly with FTSE Russell’s upcoming September reclassification of Nigeria back to Frontier Market status. Because Chapel Hill Denham’s recent data shows that banks like Access, UBA, continue to trade at steep discounts (0.36x to 0.45x Price-to-Book), these massive balance sheets make the Nigerian banking index an appealing target for incoming global index-tracking funds.
CBTxFactor: Hello, Fellow Nairalanders, I hope you're all having a good day than I am. We need to talk about what is currently happening with Smartcash PSB, the digital banking subsidiary owned by telecom giant Airtel Nigeria. If you have money inside this app, or if you’ve been planning to use them for their much-advertised features, please read this thread carefully and secure your funds if you still can. There is an ongoing, quiet crisis hitting Smartcash PSB users, and the complaints rocking the comment sections on their official social media handles (especially X/Twitter @smartcashpsb) are becoming too frequent and alarming to ignore.
My Personal Experience: How My ₦30,000 Vanished and They Ghosted Me. Let me share my own firsthand nightmare with this platform. I had an active account with a total balance of ₦30,000 sitting safely inside it. Out of nowhere, following their recent "system upgrades," my account simply vanished. I was abruptly logged out, and every attempt to log back in or reset my credentials has been completely blocked. It is as if my account never existed in their database. To make matters worse, I’ve tried reaching out to them via their so-called support on X. I sent multiple DMs detailing how my money disappeared, but they don't even acknowledge or reply to my messages. It’s total radio silence while they hold onto my ₦30,000. I can't even reach them through their help line +2349125939939 because all I get is a recorded message of "we're experiencing technical difficulties..."
The 10% Cashback Bait: Now Completely Broken One of the biggest features Smartcash used to drag millions of Nigerians away from OPay and PalmPay was their highly publicized 10% Cashback promo on Airtel airtime and data recharges. It was a sweet deal on paper ...spend money and get instant percentages back into your wallet. However, users are now crying out that this feature has been completely inoperable for a long duration. Not only are people not receiving their promised cashbacks, but the transactions frequently trigger errors, leaving users with failed recharges and trapped bonuses that can no longer be redeemed. They used the 10% cashback to lure people in, and now the system has been abandoned.
The Core Issues: What Customers Like Myself Are Facing From the massive outcries rocking their recent social media posts, the operational failures of Smartcash PSB fall into three scary categories:
1. Forced Deactivations and "Vanishing" Funds The bank has been sending out emails to certain users claiming they need to deactivate their wallets due to "upgrade issues." They explicitly assure customers that their balances are safe. However, multiple users have reported that after their wallets are deactivated for this "upgrade," the money is debited, and the bank fails to re-onboard them.
2. Constant Biometric Locks & Inaccessible Support Following recent app updates, the application is abruptly logging users out. When trying to log back in, the app rejects previously registered biometrics. To make matters worse, when users try to reset their details via customer service, they are being told their bio-data (like Date of Birth) is incorrect even though the customer set it up themselves.
3. Hidden/Ghost Transactions and App Bugs Many business owners and casual users complain that when transfers are made, money leaves the account immediately (debit alert received), but the transaction completely vanishes from the app's history. Users are left stranded at POS points or merchant shops with no receipts to prove they actually sent money. To make matters worse, sending money from other banks to smartcash PSB will be tagged successful but nowhere to be found within the recipient's account.
Current Outcries From Stranded Customers A quick scroll through the comments on their recent X posts shows a pattern of absolute panic. Here is what real users are saying right now in their comments section:
App Lockout:"I updated the app and it doesn't accept my biometrics anymore. It locked my account. Customer service is telling me my date of birth is incorrect so I can't unlock it or get my money out!"
Missing Transaction Proof:"Sometimes when I send money and the person hasn't seen the alert, I check my transaction history to generate a receipt, but I can't see it! Even though I got the debit alert immediately. I almost got beaten up at a shop because of this issue."
The Silent Treatment:"You people will not reply DMs, your customer care number (939) is not connecting, and you have locked my money inside the app. Is this how you want to run a bank?"
Why This is Dangerous Unlike regular commercial banks with prominent, dedicated brick-and-mortar branches on every street corner, Smartcash is a Payment Service Bank (PSB). While backed by Airtel, trying to resolve core banking issues at a standard telecom customer care center has proven to be a nightmare for many, as the telecom staff often lack the banking infrastructure to fix backend wallet glitches. They lured millions of Nigerians in with promises of zero transaction fees and 10% cashback, but what use is a free transfer if you wake up one day and cannot access your capital?
Over to You, Nairalanders: Are you currently using Smartcash PSB? Have you experienced these random logouts, missing funds, or frozen wallets? If you had issues and successfully got your money out, please share how you did it so others can learn.🙏🏾
Let's push this thread to the front page so Airtel and Smartcash PSB management can address this systematically before it turns into a full-blown financial disaster for unsuspecting Nigerians! Mods, please help 🙏🏾 raise awareness on this matter by pushing this to the front page. Thank you.
LocalFARMERS: The North have high numbers of street foods. Some of those food are sold in the day time, while others are mostly sold at night.
For instance, Suya, Balango, Chicken barbeque, Fresh Fish barbeque and fried Fish are mostly sold at night. Here are some common street Food in the North and their prices.
MyExpression: Feasibility Studies Completed As Funding Arrangement Advances For Phase II Of Nigeria's National Railway Projects 🇳🇬
The Managing Director of the nigeria railway Corporation, Dr. Kayode Opeifa has said that the rail sector is growing rapidly... What we are also concerned with now, is the implementation of the roadmap.
He said this while speaking in an interview with ARISE NEWS on Wednesday, where he discussed the proposed national railway development roadmap.
“Let me say the rail sector is coming up gradually and fast. We are putting together a rail system that works for nigeria and Nigerians."
The roadmap includes:
Proposed Railway Corridors: • Lekki Port (Lagos) – Maiduguri Railway — Approximately 1,588 km.
• Itakpe (Kogi State) – Abuja Central Area Railway — Approximately 262 km.
• Lagos – Calabar Coastal Railway — Approximately 618 km.
• Port Harcourt – Maiduguri Railway — Approximately 1,443 km.
• Benin City – Agbor – Onitsha – Nnewi – Owerri – Aba Railway, with an additional branch line from Onitsha – Enugu – Abakaliki — Approximately 500 km.
• Lagos – Shagamu – Ijebu Ode – Ore – Benin City Railway — Approximately 300 km.
• Proposed High-Speed Lagos – Ibadan – Osogbo – Baro – Abuja Railway — Approximately 532 km.
▪︎ Coastal Railway Corridor: Benin City – Sapele – Warri – Yenagoa – Port Harcourt – Aba – Uyo – Calabar – Akamkpa – Ikom – Obudu — Approximately 673 km.
• Kano – Daura – Katsina – Jibia Railway — Approximately 345 km.
• Eganyi – Jakura – Baro – Abuja (Idu Industrial Yard) Railway — Approximately 280 km.
• Aba – Ikot Ekpene – Itu – Odukpani – Calabar Railway — Approximately 340 km.
• Illela – Sokoto – Jega – Yauri – Makera Railway — Approximately 408 km.
The Managing Director of NRC, Dr Opeifa commenting on the development, assured that: These proposed rail corridors are expected to strengthen regional connectivity, improve freight movement, support industrialisation, and further integrate Nigeria’s transport network if fully implemented.
naptu2: President Bola Tinubu, Dr Obafemi Hamzat, Mr Babatunde Fashola, Mallam Nuhu Ribadu and Honourable Mudashiru Obasa pray at Dodan Barracks.
Bayo Onanuga, OON, CON @aonanuga1956
STATEHOUSE PRESS RELEASE
EID-EL-KABIR: PRESIDENT TINUBU URGES TOLERANCE, GENEROSITY, UNITY AMONG NIGERIANS
President Bola Ahmed Tinubu has called on Nigerians to use the celebration of Eid-el-Kabir to deepen the values of tolerance, generosity, and peaceful coexistence.
[quote author=seunmsg post=139536740]Someone should please help interpret what these guys in the video are saying.
It may not be "OK" for them but never mind, just help us interpret it.
The video is a short, shaky handheld clip (~14 seconds) showing a group of men in what appears to be northern Nigeria publicly burning a large campaign-style poster/banner of Rabiu Musa Kwankwaso. They hold it up, tilt it into flames on the ground, and move it around as it burns, with smoke and fire visible. Onlookers are present in the background.
"Bamayi! Bamayi!" (repeated) → "We don't want him!" / "We reject him!" / "We are not with you!" (a common chant of political rejection).
@Iyoaiye_
They refer to Kwankwaso as aligning with or "working for" President Bola Tinubu (described as a "political business guru" or similar).
Tinubu is called a "one-term president" and a "regional president" (implying he lacks broad national support, especially in the North). They state that both Tinubu and Kwankwaso deserve the same punishment — starting with tearing down, stoning, and burning their posters "one by one, all over northern Nigeria."
Someone should please help interpret what these guys in the video are saying.
seunmsg: A video was posted online yesterday of people beating someone in a market. Someone brought it to Nairaland and claimed the person went to campaign for Tinubu and they started beating him.
Without any APC insignia, without any audio to support the claim and with no proof whatsoever, the moderator rushed it to front page. I saw the thread and shake my head. Now that this video surfaced today with clear audio and visual evidence, they are calling it propaganda.
Very TACTLESS and exaggerated comments from Peter. Are these not the same Nigerian folks living in SA who said on camera that they wanted to come back to Nigeria and requested for assistance to do so?
FreeStuffsNG: The parties have conducted their primaries and elected their flag bearers for 2027 Presidential election slated for January, 2027; less than 8 months away.
The results are clear evidence that the opposition political parties to the ruling All Progressives Congress(APC) are unserious and unprepared despite having 4 long years to give Nigeria's democracy credible opposition, which is the hallmark of democracy.
Nigeria opposition political parties failed woefully. I am so ashamed of them.
I have started thinking that it is the right thing to do for every Nigerian to reject them and all their candidate across board in all the elective offices, not only in presidential poll, to express their disappointment.
DoWhatThouWilt: I’m in the UK driving around even at midnight, bushes everywhere, and I feel safe and secure, no kidnappers or armed robbers.
A lot of Nigerians are migrating abroad because of how things are getting harder. To defend Nigeria is a difficult task, look at our healthcare centres, roads flooded, insecurity is terrible. Imagine a school teacher in Oyo state beheaded on camera. Source:
“I’m in the UK driving around even at midnight, bushes everywhere, and I feel safe and secure, no kidn@ppers or årmed røbbers. A lot of Nigerians are migrating abroad because of how things are getting harder. To defend Nigeria is a difficult task, look at our healthcare centres,… pic.twitter.com/Pa4LWCy2LZ
OyigboUpdate: They are enforcing the order of Nnamdi Kanu which says tell the zoo military to leave the south east. But let's still pretend as if we don't know its ESN and lets call them unknown gunmen or fulani DSS
"Completion timeframe is 22 months for a FULLY rebuilt MMIA airport. This is NOT a refurbishing or renovation" ~ Festus Keyamo, SAN. (2025 with Seun Okinbaloye on Channels Television)
Politics › Re: Kano Residents Burn Obi-Kwankwanso Posters (Pics, Video) by AlphaTaikun: 8:59am On Jun 02
