₦airaland Forum

Tottenham have just won the Europa League. They didn’t finish top five in the league, but somehow… they’re going to the Champions League next season.

If you’re thinking, “Wait, does that mean someone gets pushed out?” You’re not alone.
Five Teams. Three Spots. Chaos Loading…

Liverpool and Arsenal? Already in. Tottenham? They're in too—thanks to their Europa League win. That leaves few spots and five teams clawing for them: Manchester City, Newcastle, Chelsea, Aston Villa, and Nottingham Forest.

You might assume Tottenham’s win means someone else gets bumped out of Europe’s biggest stage. But that’s not quite how it works.
The Confusing Truth Behind the Rule

UEFA didn’t exactly introduce a new rule—they just expanded the Champions League.
England now gets five league-based slots instead of four, because of how well its clubs performed in Europe this season. Add Tottenham’s win to that? Now it’s six English teams in the Champions League.
No one is getting kicked out. But don’t breathe easy just yet.

The Table Is Tight. The Stakes Are Brutal

The Premier League table heading into the final day is a pressure cooker. Chelsea, Newcastle, and Aston Villa are locked on equal points, while Nottingham Forest trail just one point behind. Even Manchester City, despite their pedigree, aren’t entirely safe. Arsenal and Liverpool, meanwhile, have already secured their Champions League spots.

The matchups only amplify the tension. Chelsea face Nottingham Forest in what is effectively a direct playoff for Europe. Aston Villa must visit a resurgent Manchester United at Old Trafford, while Newcastle will fancy their chances against already-relegated Everton. Manchester City, looking to seal their place, face a tricky away trip to Fulham. Arsenal, comfortably in second, round off their campaign at home to Southampton.

Anything can happen. And it probably will. Catch it it all on Supersport

So What Does Tottenham’s Win Really Mean?

It means the top five are going to the Champions League, no matter what. It means Tottenham get a seat at the table, without knocking anyone off. And it means clubs like Chelsea, Villa, and Newcastle still have everything to fight for.

Final Day Is War. And Only Three Will Rise

If you’re still confused, that’s fair, so are most fans. Just remember that the top five is the prize. Tottenham already have theirs. For the rest, it’s all or nothing. Final day is war. And only three will rise. Who do you think will pull through?

Last Thursday, I did something unusual: I kept refreshing the social media pages of the Federal Competition and Consumer Protection Commission (FCCPC), eagerly awaiting the court verdict in its legal standoff with MultiChoice Nigeria, owners of DStv and GOtv. When the post finally dropped, it was triumphant in tone, almost like a victory lap. “Subscription Hike: FCCPC Floors MultiChoice,” the post screamed, followed by: “Court affirms Commission’s Power to Investigate Exploitation.”

The tone suggested a regulatory win for consumers. But as anyone who read the full judgment will know, the real story was far more nuanced and far less flattering to the FCCPC.
Let us be clear: the court did not give the FCCPC a blank cheque to dictate prices to MultiChoice. In fact, it did the exact opposite.

Justice James Omotosho of the Federal High Court struck out MultiChoice’s suit against the FCCPC on procedural grounds because a similar matter was pending before another court. But buried beneath the legalese of the dismissal was a resounding message: the FCCPC has no authority to freeze or fix prices unless such power is explicitly delegated by the President of Nigeria. That has not happened.
In Nigeria’s free-market economy, companies have the legal right to set prices based on prevailing business conditions. And this is exactly what MultiChoice did.

On March 1, 2025, MultiChoice implemented a subscription price hike, up to 25%, citing surging operational costs. Like every other business operating in Nigeria, MultiChoice has not been spared the wrath of inflation, foreign exchange volatility, and rising energy bills. These aren’t luxury problems, but existential threats. A company facing higher costs must either pass some of them to consumers or degrade its services. There is no other choice.

It is an established fact that MultiChoice’s pricing in Nigeria remains the lowest in Africa. DStv Premium in Nigeria costs about $29.81 monthly, compared to $85.11 in Kenya. Even when adjusted for purchasing power, the gap remains substantial. What this suggests is that MultiChoice is not exploiting Nigerian consumers, but subsidizing them.

Yet, the FCCPC seems fixated on MultiChoice in a way that feels almost personal; a misguided regulatory crusade, actually. While other companies routinely adjust their prices without so much as a blink from regulators, MultiChoice alone is dragged into the public square for every change.

In 2023, StarTimes raised its rates twice. The first was by 33 per cent in May, while the second was by another 25 per cent in August. In early 2024, Nigerian Breweries hiked its prices three times. The FCCPC barely stirred. But when MultiChoice adjusted its rates in response to economic pressure, the commission not only intervened, it demanded a suspension of the new prices without an investigation and without due process. Justice Omotosho rightly pointed out that this breached MultiChoice’s right to a fair hearing and smacked of selective enforcement.

If protecting consumers is truly the FCCPC’s aim, then its enforcement must be consistent and fair. Singling out one player while turning a blind eye to others undermines the very principle of consumer protection. Worse, it erodes trust in the Commission’s impartiality. It is important to put into perspective, as the court did on Thursday that Pay TV is not an essential service. It is not food, water, electricity, or healthcare-all of which the prices have gone through the roof, by the way. It is entertainment and a discretionary one at that. Consumers can choose to subscribe or not. They can switch providers. They can use free-to-air channels or stream on YouTube. The court emphasized that Nigerians are not trapped. The market offers alternatives.

So why does the FCCPC treat MultiChoice’s price changes like a public health emergency? If we accept that we live in a market economy, then we must also accept the risks and rewards that come with it. You cannot say we have a free market and then punish companies for exercising their freedom to price their services. It is like prescribing socialist benefits in a liberalized economy.

This case has exposed a broader issue: the blurry line between regulation and overreach. The FCCPC has important powers: consumer protection, investigating abuse of dominance, anti-competition oversight. But it is not a price control board. That role, if ever necessary, is reserved for the President and must be officially gazetted. As Justice Omotosho noted, the FCCPC cannot act as a surrogate for executive power it does not have.
Even with MultiChoice’s market leadership position, the FCCPC still needs to follow the law. It must investigate, gather facts to establish if the position is being abused and then make declarations. It cannot adopt a shoot-first-and-investigate-later approach. In this case, the Commission acted without launching a formal investigation. That is not regulation, but acting out the belief that the law is merely a framework from which the FCCPC is free to make creative decisions to do as it wishes. It is improvisation, which the law does not accommodate.

The implications of this go beyond MultiChoice. If we accept that a regulator can dictate prices without legal backing, what stops it from doing the same to any other sector? Will it tell tech startups what to charge for their apps? Will it fix the price of beer, bread, or petrol in the absence of a subsidy framework? This is not just about MultiChoice. It is about whether we want a rules-based economic system or a regulatory Wild West. Investors, both local and international, watch these kinds of battles closely. Unpredictable regulatory behavior discourages investment, especially in sectors like media and telecoms that require huge capital outlay.

To be fair, not everyone cheering the FCCPC is doing so blindly. Many Nigerians are genuinely frustrated with rising living costs. They see any price increase as one more punch to the gut and they look to regulators for relief. That frustration is valid. But regulatory populism is not the answer. Sound policy is.

If government wants to make pay TV more affordable, it should create an environment that conduces to such, not price controls. If the FCCPC wants to protect consumers, it should strengthen transparency, ensure service quality and foster competition across sectors, not single out one player for ritual humiliation.

Justice Omotosho’s ruling is a welcome reaffirmation of the legal boundaries in a market economy. It is a reminder that even in the most passionate consumer advocacy, the rule of law must prevail. MultiChoice is not above regulation. Neither is the FCCPC above the law.

In the end, we must decide what kind of economy we want. One governed by fairness and legal certainty? Or one where rules bend to popular sentiment? For me, the answer is clear. And last Thursday, so was the court’s.

BetKing is thrilled to announce the official launch of JJ BallX, an exclusive, culturally localized street football-themed crash casino game in partnership with the legendary Nigerian football icon, Jay Jay Okocha. The unveiling took place at a press conference held on the 6th of May 2025 at BetKing’s Astroturf and was marked by a significant announcement; a Guinness World Record attempt for the most people keeping a football in the air, with 2000 participants, anchored by Jay Jay Okocha.


JJ BallX delivers a unique street football experience, immersing players in a game environment designed to reflect the everyday Nigerian football culture. With reskinned visuals inspired by local street scenes and a central character, “JJ,” modeled after Okocha himself, the game offers fans an entertaining and relatable adventure that goes beyond the screen.
To celebrate the launch, BetKing is rolling out an exciting ₦5,000,000 promo campaign running from May 6 to June 6, 2025. Fifty lucky players will each win ₦100,000 cashback simply by staking a minimum of ₦5,000 cumulatively on JJ BallX within the promo period. Winners will be chosen at random, and terms and conditions apply.

Jay-Jay Okocha, the face of JJ BallX and a revered football icon, expressed his excitement about the upcoming record attempt and the game itself, saying,

"JJ BallX is a celebration of the vibrancy and talent inherent in street football, something that is very close to my heart. By attempting this record, we hope to bring together thousands of people, uniting in our shared passion for the beautiful game and creating a memorable moment in football history."

In June 2025, BetKing will attempt a Guinness World Record, setting the stage for an unforgettable day of fun and football artistry. BetKing invites everyone to be part of this world record-setting experience, reinforcing the company's commitment to elevating the spirit and joy of football.

Speaking at the event, BetKing’s Head of Marketing, Nengi Akinola had this to say:

"Today, we are not just launching a game; we are igniting a movement. JJ BallX is about more than just football; it's about connecting with our culture, celebrating our heroes, and making history together. We are proud to partner with Jay-Jay Okocha on this venture and cannot wait to see thousands of fans come together for this amazing event.

Ready to play, win, and be part of history? Join the best betting site in Nigeria today, use promo code JJBALLX, and join the movement. This is your chance to play like JJ and win like JJ.

Photonews 1: L:R: Brand Influencer, BetKing, Broda Shaggi; Managing Director, BetKing, Gossy Ukanwoke; Brand Ambassador, BetKing, Jay Jay Okocha; Head of Marketing, BetKing, Nengi Akinola and Brand Influencer, BetKing, Tobi Bakre at the official launch of JJ BallX in partnership with Jay Jay Okocha, announced at a press conference on May 6, 2025.

The recent release of the 2025 Unified Tertiary Matriculation Examination (UTME) results has, once again, sparked widespread concern. Out of approximately two million candidates who sat for the exam, over 1.5 million failed to attain the benchmark score of 200 out of 400, which is 50 percent of the total. This outcome has sparked further debates about the difficulty of the examination, the declining standards of education in Nigeria, and the perceived lack of seriousness among students. However, while these discussions are important, they overlook a fundamental structural flaw in the system—the rigidity of JAMB’s once-a-year examination model. In an era where global educational practices prioritise flexibility and multiple opportunities for success, JAMB’s adherence to a high-stakes, single-sitting examination is not only outdated but also unjust.

The current system places an enormous burden on candidates, leaving no room for contingencies. A student who falls ill on the exam day, faces logistical challenges, or encounters technical glitches during the Computer-Based Test (CBT) has no recourse but to wait an entire year for another attempt. Financial constraints may also prevent some candidates from registering on time, effectively shutting them out of that year’s admission cycle. Even for those who do sit for the exam, the pressure to perform optimally in a single sitting is immense, as falling short of their desired cut-off mark means either settling for less competitive courses or institutions or losing an entire academic year. This all-or-nothing approach is at odds with global best practices, where standardised tests such as the SAT, GRE, and ACT allow multiple sittings within a year, reducing undue pressure on candidates and providing a fairer assessment of their abilities.

Beyond the individual hardships imposed on the students by this system, the logistical strain on JAMB itself is undeniable. Coordinating an examination for nearly two million candidates in a single sitting is a herculean task, fraught with operational challenges. Reports of technical failures or inadequate facilities are common, further complicating an already stressful experience for candidates. Many students are forced to travel long distances to their assigned centres, sometimes at great personal risk—navigating unsafe roads or waking as early as 5 a.m. to arrive on time. If JAMB were to adopt a multiple-sitting model, for example, administer exams in March, August, and November, the administrative burden would be significantly reduced. Smaller, staggered batches would allow for better resource management, minimise logistical errors, and enhance overall efficiency.

“If JAMB were to adopt a multiple-sitting model, for example, administer exams in March, August, and November, the administrative burden would be significantly reduced.”

[b]Critics of this proposal may argue that frequent examinations could compromise standards or encourage loose preparation among students. However, this concern is unfounded. Other major examination bodies, such as WAEC and NECO, already conduct multiple sittings annually without any significant decline in quality and delivery. The key factor lies in maintaining rigorous oversight, ensuring that each sitting adheres to the same high standards of integrity. Furthermore, multiple sittings could actually raise educational standards by allowing institutions to maintain their desired cut-off marks rather than lowering them to fill admission quotas and allowing students good study time to prepare for the next diet without losing touch with the syllabus. Under the current system, many universities are compelled to accept students with scores as low as 120, far below their preferred benchmarks, simply because the pool of eligible candidates is limited by the once-a-year examination bottleneck. If students had more opportunities to retake the UTME within the same year, institutions could afford to be more selective, thereby preserving academic standards.[/b]

From an economic perspective, a multiple-sitting system would also be financially beneficial for JAMB. Candidates who wish to improve their scores would register for subsequent sittings, increasing the board’s revenue. Rather than treating the UTME as a once-in-a-year event with overwhelming demand, JAMB could operate as a continuous assessment body, spreading its operations and income more evenly across the year. This would also ease the financial pressure on parents and guardians, who often struggle to gather registration fees under tight deadlines. After all, there would be another opportunity to register their wards for another diet of the test within the same year without wasting their time.

Most importantly, transitioning to an annual multiple-examination system aligns with the principles of equity and accessibility that should underpin any credible educational framework. Nigerian students should not have to gamble their futures on a single day’s performance. One day. One sitting. One chance. Education is a right, not a privilege contingent on perfect conditions. By global practice, testing systems are designed to accommodate human variables, stress, health, and unforeseen circumstances by offering flexibility. Nigeria must move in the same direction if it hopes to produce globally competitive graduates.

The argument for reforming JAMB’s examination model is not merely about convenience; it is about fairness, efficiency, and progress. As a nation striving to modernise its education sector, we cannot afford to cling to archaic practices that stifle potential. The time has come for JAMB to evolve—to offer students more than one shot at their dreams. The stakes are too high for anything less.

The President of Inner Galaxy Group, Mr. Li Shuang, on Tuesday disclosed that his company was ready to set up a $400 million hot-rolled coiled steel factory in Ewekoro Local Government Area of Ogun State, with the capacity to employ about 6,500 direct and indirect workers.

Shuang made this known while leading a delegation of the organisation’s principal officials to the Governor’s office in Oke-Mosan, Abeokuta.

He said the company is expected to commence operations in April 2026. The organisation, a multinational company with vast investments in Asia, the Philippines, Malaysia, and some African countries like Ghana and Angola, entered the Nigerian market in 2005, producing iron rods for the building industry.

Meanwhile, Governor Dapo Abiodun, in his remarks, expressed delight in the huge investment. He ascribed the success to his administration’s deliberate move to make the state the leading industrial hub in Nigeria and the West African subregion.

“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that. We are excited that you will also be employing people.

“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week. This administration has managed to attract quite a lot of industries in the last six years,” Abiodun said.

The Governor noted that the state is blessed with abundant human and natural resources, adding that alluvial gold has been discovered in large quantities and that the state has the highest quality of lithium.

He continued, “I think it may interest you to know that we also have lithium in Ogun State; the lithium in Ogun State is meant to be the highest quality in Nigeria. So, it may be something you might also want to discuss.

“We are number one in non-oil revenue in Nigeria because two-thirds of the state sits on limestone. We have a lot of limestone here; we are actually number one in cement production in Sub-Saharan Africa, and we are number three in all of Africa,” the governor explained

Governor Abiodun explained that his administration had put in place an integrated ecosystem of infrastructure to support investments coming into the state, emphasising that required infrastructure like roads, rail, air, affordable housing accommodations, medical infrastructure, and schools have been made available in the state.

It is 8:30 p.m. on a Saturday. You have fought your way through Lagos traffic, spent too much on suya that burns more than it pleases, and finally settled in to watch the Champions League final. But nothing comes easy. Your options are limited, and none of them make sense.

First, there is PHCN. Whether you are Band A or B, you are gambling that the light stays long enough to catch the final whistle. It rarely does. Next, your rusty generator. With fuel costing between ₦900 and ₦1,000 per litre, keeping the lights on through the match will cost at least ₦10,000.

Then there is online streaming. Between expensive data and Nigeria’s unpredictable internet, you might spend ₦5,000 or more only for the stream to freeze just as Lamine Yamal winds up for a shot. Now add the cost of the actual pay-per-view fee. All this trouble and expense for three hours of content that might be disrupted anyway.

Here is the part many people still do not understand. Pay-per-view is not just another subscription model. It is a separate service where viewers pay an additional one-time fee to watch exclusive live events. These are not your average football matches or soap operas. PPV is for blockbuster fights, high-stakes UFC showdowns, or exclusive concerts. You pay once, you watch once, and that is it. It is not Netflix, it is not YouTube, and it certainly is not DStv Catch-Up.

In fact, Pay-TV like DSTV does not even offer PPV. Let that sink in. If you are watching a Champions League final or a UFC main event, you are not paying extra. You are watching it as part of your existing subscription. No hidden or additional charges. No tricks. Just the monthly bouquet, a stable signal, and whatever power source you can afford that evening.

So when people scream, “Why can’t we have PPV like abroad?”, they miss the plot. Abroad, PPV can cost $80. Here, that’s half your salary. Meanwhile, DStv bundles the same content into your monthly plan. That’s a steal, not a scam.

Let’s do the math. A ₦100,000 PPV ticket, which is less than the average of $80 (₦130,000), is more than two to three months of DStv subscription or a whole year of GOtv. For a country where the minimum wage is ₦77,000 and salaries barely cross ₦200,000, that’s not premium access. That’s financial suicide.

Please forget comparisons to the US or UK. Over there, $80 is lunch money. Over here, it’s food, transport, and school fees. Systems differ. Wallets do too.

The truth? Hardly anyone in Nigeria is paying for PPV, because they don’t have to. TV is already made accessible with our Pay-TV. So before you attack broadcasters, remember where the real problem lies. The naira is in freefall, inflation is wild, and income is stuck. Access isn’t the issue. Affordability is.

So the next time you are tempted to go online and shout about how Nigeria deserves real PPV, take a step back. Ask yourself if you can genuinely afford it without going hungry for two weeks. If the answer is no, then it is time to renew your regular subscription, plug in your rechargeable fan, and pray for NEPA. Because in Nigeria, PPV is not a right. It is a reckless indulgence.

President Bola Ahmed Tinubu has urged world leaders to demonstrate unity, courage, and sustained commitment in addressing the worsening global climate crisis.

Speaking on Wednesday during a high-level virtual dialogue on climate and the just transition, President Tinubu reaffirmed Nigeria's dedication to forging a paradigm shift in which climate action and economic growth advance together, not in opposition.

"The global climate emergency demands our collective, courageous, and sustained leadership. For Nigeria, the urgency of this moment is clear: we view climate action not as a cost to development, but as a strategic imperative.''

The meeting, co-hosted by United Nations Secretary-General António Guterres and Brazilian President Luiz Inacia Lula da Silva, aimed to accelerate global climate ambition ahead of COP30, which Brazil will host.

Leaders from 17 countries, including China, the European Union, climate-vulnerable states, and key regional blocs such as the African Union, ASEAN, and the Alliance of Small Island States, participated in the meeting.

The leaders sent a clear message: climate action is moving forward, full speed ahead.

Addressing the session from Abuja, President Tinubu outlined Nigeria's Energy Transition Plan (ETP) as a bold, pragmatic roadmap for reaching net-zero emissions by 2060. The ETP targets five core sectors—power, cooking, transportation, oil and gas, and industry—and identifies a financing need of over $410 billion by 2060 to achieve these goals.

"We are, therefore, in the process of aligning our regulatory environment, fiscal incentives, and institutional frameworks to ensure that energy access, decarbonisation, and economic competitiveness proceed in lockstep. We are also taking leadership on Energy Access," he said.

President Tinubu underscored Nigeria's role as an anchor country in the Mission 300 initiative, implemented in partnership with the World Bank and the African Development Bank. The initiative aims to deliver electricity to 300 million Africans by 2030.

He recalled his participation in the Dar es Salaam Declaration earlier this year and Nigeria's presentation of its National Energy Compact, which outlines reform commitments, investment opportunities, and measurable targets to expand clean energy access and clean cooking solutions.

"This compact is among the first of its kind in Africa and lays out our policy reform commitments and specific investment opportunities in the energy sector. It sets quantifiable targets to grow electricity access and increase clean cooking penetration.

"We are working to build capacity and ensure that we meet these targets, reflecting not just our ambition but also our commitment to deliver on that ambition measurably," he said.

As part of the broader energy reforms architecture, President Tinubu announced the finalisation of the Nigeria Carbon Market Activation Policy in March 2025. This policy will unlock up to $2.5 billion by 2030 in high-integrity carbon credits and related investments.

He disclosed that Nigeria is actively updating its Nationally Determined Contributions (NDCs) in line with the UN Framework Convention on Climate Change (UNFCCC), with plans to present a comprehensive revision by September 2025.

"Our climate strategy is not limited to planning and regulation — it is also rooted in market reform.

"We are working to position Nigeria as a premier destination for climate-smart investment through the development of a Global Climate Change Investment Fund, which will serve as a platform to blend public and private capital, de-risk green infrastructure, and finance clean energy solutions at scale," he said.

The fund will support key national priorities such as green industrial hubs, e-mobility infrastructure, regenerative agriculture, and renewable energy mini-grids for underserved communities.

President Tinubu thanked international partners, particularly the United Nations and Sustainable Energy for All (SEforALL), for their advisory and technical support.

"These partnerships are a shining example of the value of multilateral cooperation in climate delivery. We are prepared to collaborate, lead, and deliver — because we understand that the time for climate action is not tomorrow; it is now," he said.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

April 23, 2025

All roads lead to Lagos on May 2nd 2025, when Wema Bank, Nigeria's oldest indigenous bank, leading innovative bank and pioneer of Africa's first fully digital bank, ALAT, will be marking its 80th anniversary in grand style, in Lagos, the city where it all started.

Founded on May 2nd 1945 as Agbonmagbe Bank Limited, Wema Bank was established by the Late Chief Matthew Adekoya Okupe and two others—his wife, Regina Adekoya Okupe and a family friend, Reverend Alade

In an era where the banking industry was designed to cater only to the colonial government and expatriates, Wema Bank came to life as a vanguard of indigenous banking, bridging the gap in access to financial services by providing quality financial services tailored to the needs of indigenous Nigerians and businesses.

The story of Wema Bank is one that symbolises remarkable resilience, capturing the journey of an indigenous Nigerian bank that dared to rise at the heights of the colonial era, weathering the storms of the difficult terrain, navigating challenges and constantly reinventing to continue serving Nigerians against all odds, for 8 solid decades and counting. This great bank, which began as the mere vision of an illustrious philanthropist in a hollow room at Agbonmagbe Lodge, Yaba, Lagos, has now grown to not only become Nigeria's longest standing indigenous and most resilient bank but also, Nigeria's most innovative bank.

In truth, Wema Bank's formidable legacy is proof that Nigerian businesses have the capacity to last, transcend time, adapt and innovate to remain valuable to customers, stakeholders, shareholders, industries, and the nation at large. From empowering Nigerians with the finest quality of financial services to providing tailored opportunities for underserved categories of the population, spearheading the future of banking and being a backbone for Nigeria's FinTech industry by not only pioneering the continent's first fully digital bank, ALAT, but also allowing FinTechs to operate using the Bank's secure and advanced network; Wema Bank has built a legacy of impact since 1945.

As Wema Bank counts down to its 80th anniversary on May 2nd, 2025, the world eagerly anticipates the future of possibilities that lies ahead for this phenomenal bank. While details of the grand Wema at 80 event are yet to be disclosed, the event is reported to be the most star-studded and exclusive corporate celebration of the year, convening generations of Nigerians in Lagos in a night of momentous reflection, merriment and grandeur, with the dress code, timeless elegance.

For more information, visit www.wemabank.com/Wemaat80 and follow Wema Bank's social media @wemabank

The after-tax profit of First Holdco, the parent company of Nigeria’s oldest bank, First Bank, rose to the highest in at least 12 years in the fiscal year 2024, according to its latest financial statement.

The group’s after-tax profit rose by 115.1 percent to N663.4 billion from N308.4 billion in 2024. Its interest income, which often accounts for the lion’s share of lenders’ revenues, surged by 155.3 percent to N2.39 trillion, driven mainly by loans and advances to customers at N1.36 trillion, investment securities at fair value of N436 billion, and loans and advances to banks at N183 billion.

First Holdco’s net interest income rose to N1.4 trillion in 2024, a 156.4 percent increase from N546 billion recorded in 2023.

The holding company saw its interest expense grow 155.3 percent to N996 billion on the back of N615 billion expense on deposits from customers, deposit from banks expense, which stood at N210.1 billion, borrowings and others at N169 billion.

First Holdco’s revenue from external customers was N3.27 trillion, comprising the commercial banking business group (N3.1 trillion), the merchant banking and asset management business group (N103.5 billion), and others (N6.2 billion) for the period ended December 2024.

Net fee and commission income during the period stood at N244.8 billion in 2024, up 30.8 percent from N187.1 billion in 2023.

The bank’s foreign exchange loss fell to N64.9 billion from N334.2 billion reported in 20223.


Net loss on sale of investment securities amounted to N48.1 billion in 2024 from a gain of N34.8 billion in the similar period to 2023.

The analysis of the cash flows of the holding company reveals that the net cash flow generated from operating activities amounted to N5 trillion in 2024, up 331 percent from N1.16 trillion in 2023, as cash from its core business boosted the group’s operating revenue.

Net cash flow used in investing activities stood at a negative N1.58 trillion from N319 billion in the period reviewed, driven by a N2.4 trillion purchase of investment securities by the holding company.

Net cash flow used in financing activities stood at a negative N463 billion in 2024 from N35.3 billion in 2023.

Dividend income grew 85.9 percent to N10.6 billion in 2024 from N5.7 billion in 2023

Cash and cash equivalents rose to N5.7 trillion in 2024, 181 3 percent decline from N2.68 trillion in the first quarter of 2023.

First Holdco’s basic and diluted earnings per share rose to N1,831 in one year from N853 in the same period of 2023.

The Board of Directors has recommended a dividend of 60 Kobo per ordinary share of 50 Kobo each, amounting to N25.1 billion for the final year of 2024.

Lagos State Governor Babajide Sanwo-Olu has hailed Nigerian chess master and founder of Chess in Slums, Tunde Onakoya, for setting a new 64-hour chess marathon record.

In a message shared on X (formerly Twitter) on Monday, Sanwo-Olu celebrated the victory as not just a personal achievement but a proud moment for Lagos and the entire nation.

Governor Sanwo-Olu commended Tunde’s unwavering dedication and perseverance, describing the achievement as a testament to his incredible talent and commitment to the game of chess.

Sanwo-Olu also gave a special shout-out to Ferdinand, a young chess enthusiast he had recently met, whose passion for the game and strategic thinking left a lasting impression.

The governor also took the opportunity to recognise the achievements of children from the #ChessInSlums initiative, along with Jamiu Boluwatife, who won the ICN Chess Championship, and participants from the Chess Tournament during the 2025 United Nations Games in New York.

He wrote, “Hearty congratulations to #Tunde_OD for achieving a remarkable milestone by setting a Guinness World Record for the longest chess marathon.

“This is not just a personal achievement, but a proud moment for all of us. Tunde’s perseverance and commitment to the game truly inspire everyone around him, and this accomplishment highlights his incredible talent.

He wrote, “Hearty congratulations to #Tunde_OD for achieving a remarkable milestone by setting a Guinness World Record for the longest chess marathon.

“This is not just a personal achievement, but a proud moment for all of us. Tunde’s perseverance and commitment to the game truly inspire everyone around him, and this accomplishment highlights his incredible talent.

“I also want to give a special shout-out to Ferdinand, whom I had the pleasure of meeting not long ago. His passion for chess and strategic thinking left a lasting impression on me. It’s inspiring to see children like him push boundaries and showcase their skills on a grand stage.

“I also have to mention the other children from #chessinslums and Jamiu Boluwatife who won the ICN Chess Championship and the Chess Tournament during the 2025 United Nations Games in New York. They all represent the best of our community, and I am confident that they will continue to achieve great things in the future.

“Once again, congratulations Tunde and all our champions. Your achievements are a source of pride for Lagos and a reminder that with determination and talent, we can reach all corners of the world.”

Onakoya, alongside his U.S. counterpart, Shawn Martinez, has officially set a new Guinness World Record for the longest chess marathon of 64 hours.

PUNCH Online reports that the chess marathon, which took place at the iconic Times Square in New York City, began on Wednesday, April 17, and concluded on Sunday, April 20.

At one point during the challenge, Martinez’s wife brought their newborn twins to the site, offering a touching family moment amid the intense competition.”

The Central Bank of Nigeria (CBN) has granted final approval to Ascensia Finance Company Limited to operate as a finance company in the country, according to an official letter dated April 10, 2025, seen by Nairametrics.

The apex bank conveyed the decision in a correspondence addressed to the Managing Director/CEO of Ascensia Finance Company, confirming that the licence was granted following a review of the firm’s application and associated documentation.

The letter, signed by Dr. Abubakar Shebe on behalf of the Director, Financial Policy and Regulation Department, stated that the approval is subject to compliance with the Central Bank of Nigeria Act, the Banks and Other Financial Institutions Act (BOFIA) 2020, and other applicable regulations.

“Failure to abide by these laws and regulations may be grounds for revocation of your licence,” the CBN warned in the letter.

The regulator also stressed the need for due diligence, noting that any adverse report on the company’s board members or management could lead to the invalidation of appointments or revocation of the authorisation.

Ascensia confirms licence approval
In a statement sent to Nairametrics on Tuesday confirming receipt of the approval, Managing Director of Ascensia Finance Company, Jude Chuka Ezeamii, said the firm aims to offer sustainable financing solutions tailored to the needs of SMEs, local corporates, and professionals in both the public and private sectors.

Ezeamii, who has extensive experience in retail and commercial banking, noted that the company plans to leverage technology to scale its services across Abuja’s area councils and expand into major Nigerian cities within its first two years of operations.

Chairman of the company, Nelson Omanibe, also expressed confidence in the company’s readiness, stating that Ascensia’s product offerings will complement government efforts to support small businesses. He referenced the President Bola Tinubu administration’s economic plans, which include nano-business grants and targeted credit facilities aimed at revitalising the SME sector.
With its licence approval secured, Ascensia Finance Company joins a growing list of finance firms expected to help deepen credit access for underserved sectors of the economy.

The Rivers State Government has countered claims of the Nigerian Bar Association (NBA) that the N300m it received from the government was an unconditional gift not tied to the hosting of its Annual General Conference in the State.

The government further vowed to deploy all legal process to retrieve the resources if NBA fails to willingly refund the money.

A statement by the SSA Media to Rivers State Government, Hector Igbikiowubo, insisted that the records of the government showed that the N300m was tied to the hosting of the NBA’s Annual General Conference in the state.

The statement said: “The government outrightly rejects the NBA’s recent allegation that the ₦300million payment made by the state was a “gift”, unrelated to hosting rights for the NBA AGC 2025.

“For clarity, the Rivers State Government’s records show that the payment of ₦300 million to the NBA was made with the mutual understanding that Rivers State would host the 2025 edition of the NBA AGC.

“The Rivers State Government entered into this arrangement with the NBA in good faith, with the understanding that hosting the conference in the state would attract significant economic benefits to our state, positively and directly impact the businesses of our people.

“The NBA’s unilateral decision to relocate the AGC 2025 against our mutual understanding and subsequent decision to withhold the ₦300 million paid for the purpose of hosting the NBA AGC 2025 in Rivers State is unethical and amounts to a breach of trust.

“Failure of the NBA to immediately refund the ₦300million to the Rivers State Government, will compel the implementation of all legal means to recover the property of the good people of Rivers State.

“We reaffirm our willingness to engage in partnerships with all professional bodies, including the NBA, but we will not accommodate exploitation of our people and the Rivers State Government”

A Senior Advocate of Nigeria, Ebun-Olu Adegboruwa says the Nigerian Bar Association (NBA) has no basis for retaining the “gift” from Rivers State, and it should refund the ₦300m immediately.

In a statement made available to the press, the learned silk said the bar should not hide under any semantics or bureaucracy to retain the money.

According to Adegboruwas, lawyers are the conscience of the society, who are expected to champion the rule of law, and as such the NBA should not be seen to be romancing with any government, especially in the face of the suffering experienced by the masses.

He advised that the ₦300m should be paid into an escrow account with the Central Bank of Nigeria (CBN) pending the restoration of democracy in Rivers State and insisted that the NBA is not a bank.

“If the money has been spent, I urge all SANs and senior lawyers to contribute N1m each to raise the money,” Adegboruwa added.

According to the senior lawyer, there is no basis for the NBA to go cap in hand to beg for money to host a conference of lawyers, as lawyers pay their practicing fees annually and money is also charged for lawyers who wish to attend the conference.

Adegboruwa urged the elders of the Bar to intervene urgently to take away what he described as “a collective shame”.

The NBA had moved the venue of its 2025 conference from Rivers to Enugu in protest against President Bola Tinubu’s replacement of Governor Siminalayi Fubara with retired naval chief Ibok-ete Ibas on March 18, 2025.

The competition has been concluded, and These are the results:

Semi-Finals Match 1
Cowrie RFC 36 - 0 Police RFC

Semi-Final Match 2
Racing RFC 10 - 7 Kings RFC

Third place Match
Police RFC 0 - 38 Kings RFC

Final
Cowrie RFC 26 - 21 Racing RFC

The winner of the Tunde Delu Abeokuta Rugby Cup is Cowrie RFC Congratulations to them on their well-deserved victory!

First place 🥇 Cowrie RFC
Second place🥈 Racing RFC
Third place 🥉 Kings RFC

Come and experience premium live Rugby action at this year’s edition of Tunde Delu Abeokuta Rugby Cup.

One Beautiful Sport 🏉
4 Teams
1 Cup 🏆

There are moments in life when you are faced with multiple battles—each screaming for your attention, each pulling you in a different direction. It is in such times that wisdom, not emotions, must lead.

Many years ago, I stood with Chief Tony Anenih in the car park of his home in Uromi, watching him navigate a storm of political battles. What surprised me was how calm he remained, almost too calm, except for one particular issue that seemed to occupy his mind. Curious, I asked him why.

He started, " Akpakomiza," as he called me. "In life, when you are faced with several battles at the same time, and you do not have the resources to fight them all, you focus on the one that carries the greatest consequence if you lose."

I never forgot those words.

On March 28, when the tragic incident in Uromi happened, that weight of leadership every leader knows became heavier. I was bombarded from all sides with diverse concerns.

"Your Excellency, you must not be seen standing against your people!"

"You can’t blame them; they’ve suffered enough at the hands of criminals."

"You are the Governor of Edo State. Why are you going to beg northerners?"

"You must bring the perpetrators to book.

Justice must be served!"

On Friday night while receiving a briefing from one of the security agents, he said gravely, “Your Excellency, we should expect possible reprisals in the North… and even within Edo Central.”

At that moment, I knew which battle I could not afford to lose.
…

I imagined families in the North, watching that gruesome video—seeing their sons, fathers, brothers, hacked down in a foreign land, far from home. The shock, the anger, the calls for revenge.

I imagined the innocent traders, students, and workers from Edo traveling through or living in Northern states—becoming sudden targets of retaliation for something they knew nothing about.

I imagined chaos—reprisal killings in the North, counter-reactions in the South, travelers afraid to journey through parts of Nigeria, and our nation once again thrown into unnecessary bloodshed.

No. That was the battle I could not lose.

So, at 4:00AM on Saturday, I left Abuja by road for Uromi. I needed to look my people in the eyes, not just read reports on a desk. I needed to hear their frustrations, their anger, and their fears.

I ensured the bodies of the slain were recovered and transported back to their grieving families. I ensured the injured survivors received treatment and were safely reunited with their loved ones. I charged security agencies to go after the perpetrators.

I engaged our northern brothers in Edo. I assured them that the actions of a few did not define our people. I believe a true leader does not let emotions blind him from doing what is right. Edo people are known for their hospitality, not hatred. That point had to be established.

I knew the matter could not end in Uromi. I flew back to Abuja to brief the President and met with security chiefs to ensure national coordination. I engaged critical northern stakeholders, including Deputy Senate President Senator Barau Jibrin, to seek lasting peace.

But I needed to go further. I had to face the grieving families directly.

So, I traveled to Kano State to meet Governor @Kyusufabba Abba Kabir Yusuf, a man whose understanding and generosity in this situation I deeply appreciate. Together, we drove over two hours to Bankure Local Government, where the families of the deceased were mourning.

I will never forget that moment. The pain in their eyes. The way mothers held pictures of their sons, the weight of sorrow in their voices as they spoke. I had no words to erase their grief, but I had the responsibility to show that Edo State stands against what happened.

I reminded them that many northerners have lived in Edo for decades, just as many Edo indigenes have lived in Kano and across the North. We are all Nigerians. Hate cannot solve this.

I offered compensation to the grieving families—not because money can replace a life, but because responsibility must be taken. I also met with the Edo and Southern communities in Kano to strengthen peace and assure them of their safety.

Now, let me be clear—justice will be served. The 14 individuals responsible will face the full weight of the law. That is non-negotiable. Anyone who violates the law must face the consequences.
But my first duty was to stop more blood from being spilled.

To those who secretly hoped for mass killings and chaos, just so they could score cheap political points, you have been put to shame, and I i know you now feel regret for your intentions.

To those who feel disappointed, I understand. I am coming back home. I will sit with my people, as I always do. We will talk. We will heal. And together, we will find our own solutions for our own problems.

Here is the lesson I leave you with, —when life throws multiple battles at you, always fight the one that has the greatest consequence if you lose.

That is leadership. That is wisdom. That is why I am here.

- SMO

By Dr. Alex Adekunle

When I first watched the video of Senator Natasha Akpoti-Uduaghan, accusing the Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello of plotting to assassinate her, my immediate reaction was one of shock, much like many Nigerians. Given the gravity of such claims, it is natural for the public to react with concern.

However, stepping back from the emotional weight of the allegations, it is important to critically assess the situation with a rational, evidence-based approach.

Over the years, Sen. Akpoti-Uduaghan has made multiple allegations against high-profile figures in Nigeria’s political and social spheres. Some of these claims have been retracted, while others remain unsubstantiated. This pattern of unverified accusations raises questions that warrant deeper reflection. As a medical professional, I am inclined to consider multiple perspectives, including the possibility that underlying psychological or cognitive factors could play a role in shaping such public declarations.

It is crucial to preface this discussion with a key clarification: suggesting the need for a clinical evaluation is not an assertion of mental instability. Rather, it is a call for a more holistic understanding of behaviour that appears to follow a pattern of extreme accusations without accompanying evidence. In medical practice, clinical evaluations are recommended for individuals who exhibit persistent behaviours that could indicate underlying psychological factors.

One potential area of concern is the tendency to perceive powerful figures as orchestrators of personal harm. This could align with certain psychological conditions, such as persecutory delusions, where an individual strongly believes they are being targeted or conspired against despite a lack of concrete evidence. Of course, not all claims of persecution are baseless; history has shown that individuals in positions of power can engage in unethical or even criminal actions. The key issue is the necessity of verifiable evidence before such claims can be accepted as fact.

Sen. Akpoti-Uduaghan has a history of making serious allegations. A notable instance was her accusation against political commentator Reno Omokri, which was later retracted after evidence disproved the claim. Reports suggest that she compensated Omokri to avoid legal proceedings, raising questions about the basis of her initial statement. More recently, her allegations against Senate President Akpabio remain unverified, yet they continue to shape public perception.

Another incident that drew attention was her reaction to a seat reallocation in the Senate chambers. The dispute, which nearly escalated into a physical confrontation, was seen by some as an overreaction to a routine administrative decision. Emotional volatility in public engagements can sometimes indicate an underlying stress response or difficulty in managing confrontation, further supporting the need for psychological evaluation in situations where such reactions are persistent.

As a psychiatric intern, I am trained to consider multiple factors in behavioural assessment. Conditions such as borderline personality disorder (BPD) are characterized by emotional instability, impulsivity, and intense interpersonal conflicts. Similarly, delusional disorder, persecutory type, involves the firm belief that one is being targeted or conspired against despite a lack of clear evidence. Another possibility is erotomania (de Clérambault’s syndrome), where an individual believes a person of high status has a secret romantic interest in them. These are medical considerations that, while not conclusive, may provide insight into persistent behavioral patterns.

It is important to note that making clinical suggestions based on public behaviour alone has limitations. A proper evaluation can only be conducted through direct consultation, structured assessments, and clinical observation. However, in cases where public figures repeatedly make extreme claims, it is not uncommon for health professionals to raise concerns about the need for professional assessment.

Public figures wield significant influence, and their statements can shape narratives that impact governance, social trust, and national stability. When unverified claims involve accusations of assassination plots or conspiracy by state actors, the consequences can be far-reaching.

If Sen. Akpoti-Uduaghan has credible evidence to support her claims, it is in her best interest to present them through the appropriate legal and investigative channels. Such an approach would not only strengthen her credibility but also ensure that justice is served if wrongdoing has indeed occurred. Conversely, if allegations are found to be baseless, they can cause unnecessary panic, damage reputations, and divert attention from pressing national issues.

The legal system provides mechanisms for verifying claims of criminal conduct. Individuals who make serious allegations should be prepared to provide tangible proof to substantiate their assertions. In the absence of evidence, public figures have a responsibility to exercise caution in their statements, ensuring they do not incite public unrest or undermine trust in governance institutions.

It may be beneficial for Sen. Akpoti-Uduaghan to seek counsel from trusted advisors or medical professionals to ensure that her public statements are well-founded. If underlying psychological factors are contributing to her actions, professional support could provide the necessary intervention. Seeking medical evaluation does not imply weakness; rather, it is a proactive approach to ensuring that one’s well-being is safeguarded while navigating the complexities of public life.

Ultimately, this discussion is not about discrediting Sen. Akpoti-Uduaghan but rather about emphasizing the need for responsible public discourse. The suggestion for clinical evaluation is not a dismissal of her allegations but a recognition that certain patterns in public behaviour warrant deeper examination. In a democratic society, the right to free speech is essential, but it must be balanced with accountability and factual accuracy.

As a medical professional, my primary concern is well-being, both for individuals and for society at large. If there are genuine threats to Sen. Akpoti-Uduaghan’s safety, they should be thoroughly investigated through proper legal channels. However, if these claims stem from psychological distress or other factors, addressing those issues will serve her interests as well as the public’s.

In an era where misinformation spreads rapidly, it is critical to approach sensitive allegations with a commitment to truth, fairness, and professional integrity. Public figures, media houses, and health professionals all have a role to play in ensuring that national conversations remain rooted in verifiable facts rather than speculation.

Dr. Alex Adekunle A. (AAA)
Psychiatric Intern
FMC, Ilorin, Kwara State

I Was Removed Because of LNG Plants, Not Sexual Harrasment- Natasha Akpoti Makes U-turn on Senate Ordeals

Natasha Akpoti has once again changed her narrative regarding her political challenges, now claiming that her removal was due to the LNG plants she allegedly facilitated in Kogi State, rather than the earlier allegations of sexual harassment. Speaking at her rally today, she accused Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello of conspiring to have her eliminated in Kogi.

This latest claim comes despite the Ministry of Petroleum denying her involvement in the facilitation of any LNG projects, which the ministry claimed was cited due to existing plants and pipeline projects in Ajaokuta. Her statements have been met with widespread skepticism, particularly on Facebook, where many users criticized her for inconsistencies and probable emotional blackmails in her story.

Previously, Natasha had alleged that she was targeted over sexual harassment concerns against the Senate president, Godswill Akpabio, a claim that fueled public sympathy. However, her sudden shift in position has led to accusations of political blackmail against the Senate leadership and the Kogi State government.

Her speech today has reignited debates over her credibility, with critics pointing to a pattern of shifting narratives depending on public sentiment. Many observers believe that Natasha’s allegations are aimed at gaining sympathy ahead of upcoming political battles.

For far too long, the healthcare sector in Kwara State suffered from the neglect and mismanagement of past administrations. Up until the most recent tenure, the state’s medical training system was left to rot. Facilities deteriorated, accreditation was lost, and young people who aspired to become healthcare professionals were left stranded. It was a damning legacy of abandonment that forced many Kwarans to seek training opportunities elsewhere, draining the state of potential and talent.

That dark era has finally ended.

Under the leadership of Governor AbdulRahman AbdulRazaq, Kwara State has reclaimed its place as a serious player in the healthcare sector. The recent approval by the Nursing and Midwifery Council of Nigeria (NMCN) to allow Sobi Specialist Hospital, Ilorin, and General Hospital, Offa, to train nursing interns is nothing short of a landmark achievement. For the first time, Kwara will be able to groom its own nurses rather than watching them leave for other states in search of training opportunities. This is not just about infrastructure; this is about restoring dignity to a profession that had been disregarded by previous administrations.

A Legacy of Neglect
Let’s be clear: the decay did not happen overnight. The previous political leaders had nearly two decades to build a robust healthcare training system, but they failed spectacularly. Instead of investing in critical manpower development, they focused on politics of patronage, leaving the healthcare sector in shambles. Nursing schools struggled for accreditation, hospitals lacked the personnel to provide quality care, and patients bore the brunt of a failed system.

The absence of proper training institutions meant that Kwara had to rely heavily on importing medical personnel from other states. The result? A fragile, unsustainable system that left communities vulnerable. It was an avoidable crisis, but past leaders simply didn’t care enough to fix it.

A New Dawn Under AbdulRazaq
Governor AbdulRahman AbdulRazaq’s administration has rewritten the script. Unlike his predecessors, he recognizes that investing in healthcare is not just about building hospitals—it’s about ensuring those hospitals are staffed with well-trained professionals.

His administration’s efforts in securing accreditation for the training of both pharmacy and nursing interns speak volumes. For the first time, Kwara’s young, aspiring nurses have a homegrown path to professional excellence. This means better healthcare services, reduced brain drain, and greater employment opportunities within the state.

And it doesn’t stop at nursing. Governor AbdulRazaq has prioritized the overall revitalization of the health sector, from equipping hospitals to improving staff welfare. The government has been intentional about fixing dilapidated health centers, upgrading medical equipment, and recruiting more healthcare workers. This is governance that works. This is leadership that cares.

What This Means for Kwara’s Future
The implications of this achievement cannot be overstated. With an expanded capacity to train nurses and other medical professionals, Kwara is positioning itself as a healthcare hub in Nigeria. In the coming years, we can expect:

● Improved healthcare delivery: More trained nurses mean better patient care across the state.

● Job creation: Young people who previously had to leave for other states can now build their careers right here at home.

● Economic growth: A well-functioning healthcare sector attracts investment and boosts the local economy.

● A healthier population: With better-trained personnel, health outcomes will improve, saving lives and reducing preventable deaths.

The Future is Bright
Governor AbdulRazaq is proving, time and again, that good governance is about making real changes that impact lives. The accreditation of Kwara’s hospitals for nursing internships is not just another policy move; it is a bold step toward securing the state’s future.

Kwara’s healthcare sector is on the rise, and for the first time in decades, we can say with confidence that the future looks promising. The failures of the past are being corrected, and under AbdulRazaq’s leadership, Kwara is finally getting the healthcare system it deserves.

The Gulf of Guinea is one of the most important economic corridors in the world, given its abundance of natural and mineral resources, including oil and gas, and its status as a major maritime corridor for trade. The Gulf is a region that is vital not only to the economies of regional countries, but also other parts of the world, and every country that trades with Africa is very interested in ensuring that the area is safe and secure from all forms of criminal threat and activity.

This would explain the active role that the European Union plays in supporting the Navies in the Gulf, through the EU Strategy and Action Plan for the Gulf of Guinea to Address Transnational Crime, as well as the development of the YARIS (Yaoundé Architecture Regional Information System) maritime surveillance software.

It also explains the support of the People’s Republic of China, which in December 2024 hosted the second edition of the Gulf of Guinea Security Situation Seminar, a gathering of Naval Heads and the Inter-regional Coordination Center, under the theme: “Maritime Security Situation and Cooperation in the Gulf of Guinea.”

With Nigeria being the biggest economy and most formidable military in the Gulf of Guinea, it is not surprising that the country plays a leading role when it comes to the maintenance of peace and security, through the direct interventions of the Nigerian Navy, as well as through mobilizing and supporting regional and multinational cooperation.

In November 2024, the Nigerian Navy hosted the 8th Symposium of Heads of Navies and Coastguards of the Gulf of Guinea Region. That gathering, which had as its theme, “Maritime Security and Sustainable Development in the Gulf of Guinea” is one of the most important forums focused on peace and security in Gulf of Guinea and West Africa, with the 2024 edition assembling about 200 delegates from various GoG countries, as well from regional institutions, European countries and the United States.

Nigeria has also led the push for the establishment of a Combined Maritime Task Force for the Gulf of Guinea, and has expressed its desire and readiness to support by hosting the headquarters of the Task Force in Lagos, a position affirmed by President Bola Ahmed Tinubu at the 38th Ordinary Session of the Assembly of the African Union (AU) Heads of State and Government in Addis Ababa, Ethiopia, in February.

The Nigerian Navy under Vice Admiral Emmanuel Ikechukwu Ogalla is resolute in its ambitions for continental impact, asserting its credentials and capacity well beyond the Gulf of Guinea. It is in line with this that the Federal Government in February 2025 signed an agreement with the African Union to provide Strategic Sea Lift Services for African peacekeeping and support operations, humanitarian efforts, natural disaster assistance, and the movement of military personnel and materiel. According to the terms of that agreement, the Nigerian Navy will make a vessel available to fulfill these services on a cost-recovery basis.

Vice Admiral Ogalla is indeed an unrelentingly vocal advocate of Nigeria’s central role in maintaining the Gulf of Guinea as a stable, secure and business-friendly maritime environment. It is noteworthy that Nigeria was taken off the global list of piracy-prone countries in March 2022, and Vice Admiral Ogalla has diligently maintained this status since he assumed office in June 2023, in part through the careful nurturing of bilateral and multilateral security and defence relationships.

Proof of this commitment to relationship-building abounds, looking at the Naval Chief’s various bilateral engagements in this outgoing first quarter of 2025. In January, Vice Admiral Ogalla received courtesy visits from the Bangladeshi High Commissioner to Nigeria, His Excellency Mr Masudur Rahman, and the new Ambassador of Denmark to Nigeria, His Excellency Jens Ole Bach Hansen. Also in January, the Indian Navy Ship (INS) TUSHIL sailed to Nigeria on a Port Visit.

At the beginning of March, the Director of the French Directorate for Cooperation in Security and Defence was at the Naval Headquarters in Abuja for a courtesy visit to the Naval Chief. During that meeting the French Navy outlined potential areas for deepening cooperation with their Nigerian counterparts. Indeed, France has been a critical partner to the Nigerian Navy, playing active roles in regional maritime exercises such as Exercise GRAND AFRICAN NEMO and Exercise CROCODILE LIFT.

For Vice Admiral Ogalla, thought leadership is also an important aspect of leading Africa’s most dynamic Navy, and he demonstrates this by his readiness to share insights and shape narratives in the most important intellectual spaces in the country and outside.

As Guest Speaker for the Annual Faculty of the Social Sciences' Distinguished Annual Public Lecture, at the University of Nigeria, Nsukka – his alma mater – in October 2024, spoke on the topic “Safeguarding Nigeria's Blue Economy Potentials: The Role of the Nigerian Navy.” In that speech he harped upon the importance of multilateralism, positing that “multinational synergies are necessary to enhance maritime security for safeguarding the enormous potentials of the nation's Blue Economy.”

Three months later, in January 2025, Vice Admiral Ogalla was at the National Defence College Abuja – Nigeria’s highest military institution for the training of senior military and police officers and high-ranking civil servants – to deliver a lecture on “Maritime Security and National Development – The Role of the Nigerian Navy" to participants of NDC Course 33, including delegates from foreign countries.

Earlier, during the 14th Trans-Regional Seapower Symposium in Venice, Italy in October 2024, Vice Admiral Ogalla delivered a paper titled, “Preserving the Underwater – the Secure and Sustainable Use of the Underwater” to an audience of Naval Chiefs and maritime experts from around the world. On the sidelines of that Symposium he held bilateral engagements with the Chief of the Italian Navy, and the American Chief of Naval Operations (CNO).

Also in October 2024, he delivered an address on “Non-Traditional Maritime Security Challenges/Threats in the African Maritime Domain”, at the 5th Sea Power Symposium for Africa Symposium (SPAS) hosted by the South African Navy (SAN) in Cape Town.

Under Vice Admiral Ogalla’s watch – in his words, “As someone who has dedicated a significant part of my career to safeguarding Nigeria's maritime domain” – the Nigerian Navy continues to demonstrate its readiness not only to fulfil that constitutional mandate of maritime domain security, but also to actively engage with key partners and stakeholders, and shape strategic narratives that bolster Nigeria’s military standing.

Former lawmaker representing Kaduna Central in the National Assembly, Shehu Sani, has stated that the N15.6 trillion Lagos-Calabar coastal highway is not a wasteful project.

PUNCH Online reports that former President Olusegun Obasanjo had described the coastal highway project as a wasteful and corrupt venture.

He also criticised the President Bola Tinubu administration for spending N21 billion on a new official residence for Vice-President Kashim Shettima.

Obasanjo made these remarks in chapter six of his new book ‘Nigeria: Past and Future’, which was unveiled last week to mark his 88th birthday.

He said, “State resources are captured and appropriated, with a pittance to staff and associates to silence whistleblowers.

“Typical examples of waste, corruption and misplaced priority are the murky Lagos-Calabar Coastal Road on which the President had turned deaf ears to protests and the new Vice-President’s official residence built at a cost of N21bn in the time of economic hardship to showcase the administration hitting the ground running and to show the importance of the office of the Vice-President. What small minds!”

Reacting in a post via his official X handle on Thursday, Sani said the highway project is not wasteful, adding that the funds for the project could have been stolen.

He wrote, “I don’t think Lagos Calabar highway is wasteful, taking cognisance that such amount of money for the project can be stolen by one man, as it happened in the CBN in the past.”

In the ever-evolving landscape of Nigerian economic discourse, television has become a critical platform for shaping public opinion. Among the voices that dominate this space, two economists are often seen on TV: Kelvin Emmanuel and Bismarck Rewane. Both frequent Arise TV and Channels TV.

Their approaches to analyzing Nigeria’s economic realities could not be more divergent. While one is celebrated for his data-driven insights and measured commentary, the other has drawn scrutiny for what many perceive as a pattern of biased, agenda-laden critiques. The contrast between these two figures raises important questions about objectivity, credibility, and the role of economists in shaping national dialogue. However, Kelvin Emmanuel’s credibility hangs dangerously in the balance.

Bismarck Rewane, a seasoned economist and CEO of Financial Derivatives Company, has long been a respected voice in Nigeria’s economic sphere. His analyses are rooted in empirical data, historical context, and a deep understanding of macroeconomic principles. When Rewane speaks, viewers are treated to a masterclass in economic reasoning. His ability to break down complex issues into digestible insights has earned him a reputation as a trusted authority. Whether discussing inflation, exchange rates, or the performance of state-owned enterprises like the Nigerian National Petroleum Corporation (NNPC), Rewane’s commentary is consistently balanced, informed, and devoid of sensationalism. He is, in every sense, the gold standard for economic analysis in Nigeria.

On the other end of the spectrum is Kelvin Emmanuel, whose appearances on Arise TV have sparked both attention and controversy. Kelvin Emmanuel’s critiques of Nigerian owned parastatals in particular, have become a recurring theme in his commentary. While criticism of public institutions is a necessary component of a healthy democracy, Emmanuel’s approach often veers into the realm of hyperbole and unsubstantiated claims. His relentless attacks on Nigerian Government and policies lack the nuance and evidence-based rigor that one would expect from a professional economist. Instead, they appear driven by a singular narrative: to discredit the Government owned oil sector, this also casts a dark cloud over the integrity of his work.

This raises a troubling question: why does Kelvin Emmanuel’s commentary seem so one-sided? Sources close to the matter suggest that his critiques are not entirely his own. It is alleged that Emmanuel is being sponsored by individuals with vested interests in undermining NNPC. If true, this would explain the economist’s persistent negativity and his apparent disregard for balanced analysis. Such a revelation, if proven, would not only undermine Emmanuel’s credibility but also cast a shadow over the integrity of his work. After all, an economist’s value lies in their ability to provide impartial, fact-based insights—not to serve as a mouthpiece for hidden agendas.

The contrast between Kelvin Emmanuel and Rewane is stark. Where Rewane relies on data, Emmanuel often resorts to rhetoric. Where Rewane offers solutions, Emmanuel seems content to amplify problems. This divergence is not merely a matter of style; it speaks to the core of what it means to be a credible economist. In a country like Nigeria, where economic challenges are complex and multifaceted, the public deserves analysts who prioritize truth over theatrics, and substance over sensationalism.

It is worth noting that criticism, when constructive, can be a powerful tool for accountability. No public institution is above scrutiny. However, the nature of Kelvin Emmanuel’s critiques—often lacking in evidence and seemingly driven by ulterior motives—does little to advance meaningful dialogue. Instead, it risks eroding public trust in the very institutions that are critical to Nigeria’s economic stability.

In the battle for TV supremacy, Bismarck Rewane emerges as the clear victor. His commitment to data-driven analysis and his unwavering professionalism set a standard that others should aspire to. Kelvin Emmanuel, on the other hand, appears to have strayed from the path of objectivity. Whether by choice or by influence, his approach undermines the credibility of his profession and does a disservice to the Nigerian public.

As viewers, we must demand more from those who shape our understanding of the economy. We deserve analysts who prioritize facts over fiction, and who are guided by a genuine desire to inform rather than to inflame. In this regard, Bismarck Rewane stands as a beacon of integrity, while Kelvin Emmanuel’s credibility hangs in the balance. The choice of whom to trust is ours to make—and it is a choice that should not be taken lightly.

Adesanya Balogun is a journalist and public affairs analyst with a focus on economic and political issues in Nigeria.