₦airaland Forum

Nigeria exported N682bn worth of aluminum alloy from January to September of 2024, analysis of Foreign Trade Statistics report has shown.

The report, which is produced by the National Bureau of Statistics tagged the product as ‘Unwrought aluminum alloys’ and thus exported in ingots, blocks, billets or slab forms.

A breakdown indicated that N84bn of the product was exported in the first quarter of 2024 followed by N480bn in the second quarter and N116bn in the third quarter.

Japan was the biggest importer of the product with N218.3bn total imports followed by China with N43.5bn.



Nigeria’s flourishing aluminum export is despite the country’s only smelting plant, Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, not in operation since 2000.

Recall that ALSCON was launched in 1997 but ceased operations in 2000. In 2007, United Company RUSAL (UC RUSAL), a Russian company, acquired an 85 per cent stake, with the remaining shares owned by the Nigerian government.

RUSAL modernised the facility, which has an annual capacity of 193,000 tons of aluminum, but operations were suspended in March 2013 due to an unreliable gas supply, making production unviable.

However, the plant has been bogged down in an ownership tussle with an American company, Bancorp Financial Investment Group (BFIG) that was disqualified from the bidding process during its privatisation.

However, despite both companies securing court victories to lay claim to the company, there have been recent efforts to revive the company

The federal government had last year said it planned to revive the plant and when fully operational, the company will contribute to the nation’s economy.

Describing it as a significant boost to investors’ confidence, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, expressed confidence in the imminent revamping of the plant, according to a statement in Abuja by his spokesman, Louis Ibah.

Ekpo, according to the statement, spoke when he led a Nigerian delegation that included top officials of BFIGroup of America, the preferred bidder and core investor in the privatisation of the federal government’s shares in ALSCON, on a visit to the headquarters of China National Chemical Engineering Corporation (CNCEC) in Beijing.

While UC RUSAL also announced plans to inject $500m, ALSCON chairman, Alexey Arnautov, during a visit with the company’s management to President Bola Tinubu at the State House in July, emphasised that the $500 million investment within a specific timeframe will significantly enhance the company’s performance.

In a statement, Tinubu expressed the government’s strong interest in reviving the smelter company in Ikot Abasi highlighting its importance for the nation’s development.

In a heartwarming display of philanthropy and community spirit, Yusuf Kamorudeen, Personal Assistant ( Special Duties) to President Tinubu paid a courtesy visit to the Markaz Agege, where he was warmly received by the students and Mudirul Markaz, Sheik Habibullahi Adam El-Ilory OON.

During his visit, Kamorudeen announced a generous donation package to support the educational development of the students. He pledged to provide 40 scholarships to Diploma students and Undergraduate respectively, as well as books and Quran for the students and made a donation to support the school and the students.

Kamorudeen, who expressed his joy at returning to his alma mater, said, “This is where I grew up from, I’m happy to be here today and give back.” His gesture was met with applause and appreciation from the students and staff of the school.

The Agege Markaz school has a long history of providing quality Islamic education to students from far and near, and Kamorudeen’s donation is expected to have a significant impact on the school’s ability to provide resources and opportunities to its students.

Kamorudeen’s visit and donation serve as a shining example of the importance of giving back to one’s community and supporting the next generation of leaders.

Among others who are in the company of the president’s aide are, popular Ilorin-Born Islamic Cleric, Abdulraheem Abdullahi Salaty Popularly known as Albaarizy, Sheik Morufudeen Sulaimon, Alhaji Saheed Suberu, and Alhaji Dr. Sulaimon Lafeef, Alhaji Ayodeji Folorunso, Chief Habeeb Okunola, MON, OFR,(Akosin of Yourubaland), ACP Sefiu Bamidele Akande, Commander of Presidential Escort, among others

Erhiatake Ibori-Suenu, member representing Ethiope Federal Constituency of Delta State in the House of Representatives and daughter of James Ibori, former Delta State Governor, has vowed to bury the People’s Democratic Party (PDP).

The member of the House of Representatives also declared the political party dead in her constituency.

“The wind and lightning that will destroy PDP have arrived. We will bury the PDP in the Ologbo River, the bridge between Delta and Edo States,” she said.

Ibori-Suenu made this declaration during an empowerment programme where she distributed vehicles, motorcycles, sewing machines, and water pumps to residents of her constituency.

She said that her political alignment had always been with the All Progressives Congress (APC), which she described as the “supreme party” despite previously being a PDP member.

The lawmaker alleged that the PDP stifled her political aspiration and appreciated APC for welcoming her with open arms and the party’s support for her constituency.

“We are capable, and we will not disappoint Ethiope Federal Constituency. To the leadership of APC, I appreciate your support. God will bless you all, including my leaders Senator Ovie Omo-Agege and Hon. Halims Agoda,” she said.

PDP has experienced a large number of its party members defecting to APC, including Ibori-Suenu.

Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC)under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

The Senior Special Assistant to the President of the Federal Republic of Nigeria on Special Duties, Yusuf Kamorudeen, has empowered Ogun State youth with over N60 million to boost youth development in the state and in Nigeria.

The empowerment program involved the distribution of grants to support young entrepreneurs. This initiative includes ₦500,000 each for 50 medium-scale business owners and ₦200,000 each for 100 small-scale entrepreneurs, totaling ₦45 million in direct business support.

In addition to this, the empowerment program also includes support for market women’s empowerment, with ₦200,000 each for 30 market women across Ogun State, as well as student scholarships and innovation grants in the technology sector.

Furthermore, Kamorudeen Yusuf has demonstrated his commitment to educational development by donating classroom furniture to six primary schools across Ogun State’s three senatorial districts. Each school received 50 sets of tables and chairs, which will improve the learning environment for 900 students across the beneficiary schools.

“The City Boy Movement, as many of us know, was instrumental in galvanizing grassroots support for President Bola Ahmed Tinubu during the last election

“We stood firm in our belief in his vision, a vision rooted in inclusivity, development, and a renewed hope for Nigeria. Today, we continue that mission not just as supporters but as active stakeholders in driving the success of his policies, right here at the grassroots, where real change begins,” he noted

The President’s son, Seyi Tinubu during his speech described it as a nice innovation from the youth wing of the cabinet, noting that everyone should emulate this to achieve a better goal with the president.

Today, I signed off on the Odonla-Odogunyan Housing Estate Project, a collaborative initiative between the Lagos State Government and Access Bank Plc.

The housing estate will cover an impressive 9.98 hectares of land and will feature 704 units spread across 44 blocks, all consisting of modern 2-bedroom apartments.

It will include a cinema house, a playground, a water treatment plant, well-constructed road networks, and other modern amenities.

We’re not just building homes. We are focused on enhancing the living experience for our residents.

President Bola Tinubu congratulates Lookman, Nnadozie, Super Falcons on CAF Awards

🇳🇬WAR ON TERRORISM

The FG has secured conviction of over 200 terrorists successfully prosecuted during the just-concluded Phase 6 Terrorism Trials held at the Kainji Detention Facility from 9 - 13 December 2024. I commend the ONSA led by NSA Nuhu Ribadu for this feat.

More than 200 suspects who were linked with the terrorism activities in different parts of the country have been convicted by the Federal High Courts (FHC) in the country after they were found guilty of the offences, Daily Trust reports.


Some of the suspects, according to the National Counter-Terrorism Centre in the Office of the National Security Adviser (ONSA), were sentenced to death, life imprisonment and 20 to 70 years depending on the gravity of their offence.

Daily Trust reports that the Director of Public Prosecution of the Federation, under the Office of the Attorney-General of the Federation in collaboration with ONSA oversaw their trials.

Hundreds of the suspects were being tried by 5 FHC judges in phases at the Kainji Detention Facility over their involvement in the heinous crimes with over 500 convictions secured in the past.

Giving an update on Sunday after conclusion of Phase 6 of the trial held between December 9 to 13, 2024, the Department of Strategic Communications in ONSA, explained that a total of 237 cases were heard from the trials.

The department stated that among those sentenced to the maximum penalty were individuals found guilty of heinous offences, including attacks on women and children and destruction of religious sites.

The suspects who were guilty of slaughtering innocent civilians as well as the abduction of women and children in brutal assault at Gina Kara Kai community in Borno State also received maximum penalty.

Describing the recent conviction as “milestone” in a bid to fight terrorism in the country, ONSA said it would not relent in its unwavering campaign against terrorism, including Boko Haram insurgency, IPOB insurrection and banditry.

It stated that the trials were conducted in strict compliance with international standards of justice, adding that it marked a critical step in restoring peace and stability in affected regions across the country.

Terrorism financiers jailed for life

“Additionally, individuals involved in terrorism-financing—a critical enabler of violent activities—were sentenced to life imprisonment, underscoring the Federal Government’s unyielding resolve to dismantle all aspects of terrorist networks.

“This achievement highlights the government’s commitment to delivering justice for victims of terrorism and safeguarding the lives and property of all Nigerians,” the Strategic Communications department explained.

It quoted the AGF and Minister of Justice, Lateef Fagbemi and the National Security Adviser, Nuhu Ribadu to have commended the judiciary, military, police, and other security agencies for their dedication to the “achievement”.

They urged Nigerians to remain united, vigilant and proactive in reporting suspicious activities to appropriate authorities, as the nation strives toward a safer and a more secure future.

It added, “The Director of Public Prosecution of the Federation, under the Office of the Attorney General of the Federation oversaw the trials in collaboration with the National Counter Terrorism Centre (NCTC), Office of the National Security Adviser (ONSA).

“This coordinated effort ensured a transparent and efficient judicial process, the sustenance of effective administration of justice.

“While the Department of the Public Prosecutions led the legal process, the NCTC-ONSA coordinated kinetic and non-kinetic counterterrorism measures, reaffirming the Federal Government’s determination to hold perpetrators accountable, protect victims’ rights and uphold the rule of law.

“At the Phase 5 of the Terrorism Trial that took place in July this year, 143 cases were heard with 125 convictions.

“Under the leadership of President Bola Ahmed Tinubu, GCFR, the administration has significantly strengthened the capacities of institutions, including the military, police, intelligence, law enforcement agencies and the judiciary to facilitate the swift and effective administration of justice.

“Measures have also been implemented to ensure the safety of judicial officers, witnesses, and other stakeholders involved in the trials.

“This initiative reflects Nigeria’s commitment to global best practices in prosecuting terrorism-related cases and aligns with international conventions aimed at protecting fundamental rights.”

I watched the presentation by the former Speaker of the House of Representatives at the Channels Television town hall session on the tax reform bills with great interest, and came away very impressed by the arguments that he made. Since he left the House in 2023, the former Speaker has been quiet.

Until this very impressive performance on a national stage, delivering deep truths about Northern Nigeria and the massive economic opportunity before it.

He’s worth quoting extensively. He addressed various issues methodically, showing immense respect for views he disagreed with, and showing us a new standard for public debate. Among the issues he touched on were the allegations that President Tinubu is anti-North (false); that the Tax Reform Bills are being uncharacteristically rushed (false).

Dogara said: “I want to talk to my brothers in the North. I don't think this is the time for us to begin to condemn the president. And to begin to say that on account of these bills, he's anti-North. Because I want to remind us that the president has done something that is significant.

In my lifetime, if we can pursue this to the end, it will be that there's no Northern leader of my lifetime that has done what the president has done for the North. And I will tell you, it's the creation of the Livestock Ministry. The global market size of dairies, of beef, in the next three years, will rise to about 2.5 trillion US dollars. So if in the north, we're able to organize ourselves in such a way that we can corner just 5 percent, just 5 percent of this global market size of dairies and beef. I tell you, that gives us [125] billion US dollars. We don't need VAT from any State in Nigeria to survive. We are the most endowed part of Nigeria. We have all the resources. We can survive.”

These are profound words that should be translated into local languages across the country — kudos to the former Speaker for this bold and insightful affirmation of the North’s economic potential, which can be attained with visionary and determined leadership.”

His words made me interested in digging deeper into the (false) narrative of President Tinubu being anti-North. What I found is interesting – nothing could be further from the truth.

A man who holds the prestigious title of Jagaban of Borgu Kingdom, and has held this title since 2006, does not get and maintain such an honour by being disdainful of a region. A quick look at the President’s 19 months so far in office will reveal several landmark initiatives targeted at supporting and developing Northern Nigeria. I will list some of the ones that come to mind most readily.

In addition to the establishment of the Ministry of Livestock Development, there is also the establishment of North West Development Commission, which received presidential assent in July 2024, the effort that has gone into redesigning and re-awarding the contract for the reconstruction of Section 1 (Abuja-Kaduna) segment of the Abuja-Kano Expressway. In August 2023, the President flagged off the construction of a 1,350MW gas-fired power plant in the FCT, which, when completed, will be transformational to the economy of Northern Nigeria.

What of the major security gains being seen across Northern Nigeria — with dozens of bandit and terrorist leaders neutralized, major highways being secured; the launch of the 50 billion Naira Pulako Initiative under the oversight of the Vice President, targeting seven frontline Northern States most affected by banditry. Still on the matter of security, the National Security Adviser (NSA), Chief of Defence Staff (CDS), and both Defence Ministers have been appointed from Northern Nigeria in recognition of how critical security is to the region, in light of what it has gone through in the last decade and half.

There is also the flag-off of the construction of the 1,068km Sokoto-Badagry Expressway, with work commencing from the Sokoto end, the good progress being seen on the Kano-Kaduna and Kano-Maradi Standard Gauge Rail projects, and the Presidential approval for upgrade of Maiduguri Airport (Muhammadu Buhari Airport) to International status, with an operational take-off date of January 2025.

Even the tax reforms will benefit the region’s people significantly. The reforms being proposed by the President will ensure that all Nigerians earning one million Naira per annum and less will be completely exempted from PAYE tax. This is a huge deal, and tens of millions of Nigerians, including Northerners, will benefit. The reforms also include VAT exemption on transportation, rent, petroleum products, as well as a “zero rating” of VAT on food, healthcare, education. So, in essence, the biggest items that Nigerians spend their hard-earned incomes on will see reduced tax burdens – and Northern Nigeria will not be left out.

As Yakubu Dogara said, it is very essential for us all to familiarize ourselves with the actual details of the reform bills, instead of listening to false and misleading claims and opposition propaganda circulating on the Internet. In the former Speaker’s very frank words, “You see, all of us operate within the available light that we have. For instance, when I first heard about these tax reforms, I was merely listening to people interpret what these proposals were. As a matter of fact, I had not even read them myself. So in most cases, people react to information without bothering to check if those information they have had are actually true. So you cannot blame a lot of people when they react this way, because they are listening to their leaders who are misinforming them, so to say.”

One major edge that Dogara has is that he can speak from practical experience, not just theoretically. He knows first-hand the importance of moving fast when a matter requires urgent solutions. He cited the example of the North East Development Commission Bill, which he sponsored. “I know how hurriedly we put that bill together. And then because of the level of devastation then in the Northeast, and then the parlous nature of the livelihood of the people there, everybody understood with us. And I believe that these [tax] reforms too are as important as the measures that led us to do that in the National Assembly,” he said.

As for the demand for the tax reform bills to be withdrawn, he made a most important point. “The question of withdrawing these bills does not arise. The National Assembly is the proper forum for debate, for contestation, for disagreement. Nothing stops the National Assembly from holding a joint public hearing on the bill between the Senate and the House of Representatives. If the Northern governors have issues, let them articulate their issues. Proffer solutions, the president has said, this is the best way I intend to achieve this. We are free to disagree with the president and say, look, we disagree. We agree with the general principles, but instead of what the president has proposed, this is our own proposal. All of us, if we're invited, should be able to avail ourselves as part of our civic duty to be at the National Assembly in order to look at all the issues that have been raised and to proffer solution.”

No piece of legislation is indeed perfect. I would say, in my view, the Tax Reform Bills are eighty to ninety percent without blemish. For the remaining 10 to 20 percent that might appear somewhat controversial, there is certainly room for further consultations, negotiations and compromises.

But we should not be guilty of throwing out the baby with the bath water; we should not allow a handful of imperfections to stand in the way of the greater good. Let the consultations continue, but let us also be clear that at the end of the day, Nigeria will be better off with President Tinubu’s far-reaching tax reforms.

The Nigerian Education Loan Fund (NELFUND) has emerged as a transformative initiative to address one of Nigeria's most pressing challenges: financing education. Driven by a vision to ensure no student is denied access to tertiary education due to financial constraints, NELFUND, under the stewardship of its Managing Director, Mr Akintunde Sawyer has left no stone unturned in making student loans accessible and impactful.

In a country where the cost of education often outpaces the financial capabilities of many families, NELFUND offers a lifeline: established as a key initiative under President Bola Tinubu’s Renewed Hope Agenda, aiming to address the financial barriers to higher education faced by students in Nigeria. This transformative program provides interest-free loans to eligible students in tertiary institutions, with repayment scheduled to begin two years after National Youth Service Corps (NYSC) completion and contingent upon employment. NELFUND represents a significant policy step toward inclusivity and accessibility in education financing.

Over 1.2 million students in federal and state-owned tertiary institutions have already benefitted. Institutions across 36 states have integrated their student databases with NELFUND's Student Verification System (SVS). This streamlined process eliminates bureaucratic bottlenecks, making loan applications seamless and transparent​
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State-to-State Sensitization: A Critical Component
Understanding the importance of awareness, NELFUND has undertaken state-by-state sensitization campaigns. These outreach programs aim to educate students, parents, and school administrators about the loan application process, eligibility criteria, and benefits. NELFUND is engaging with stakeholders, including traditional rulers, religious leaders, and educational officials. This grassroots approach ensures widespread participation and highlights the inclusiveness of the scheme.

Moreover, NELFUND has been proactive in addressing technical challenges. From resolving BVN verification glitches to offering real-time online support, the organization demonstrates its commitment to removing barriers to access​.

Beyond the financial assistance, NELFUND’s efforts represent a broader shift in how Nigeria approaches educational funding. By collaborating with security agencies to prevent fraud and ensuring loans are only disbursed to deserving students, the initiative underscores the importance of integrity and accountability.
The program's effects ripple beyond the individual beneficiaries. As more students gain access to education, the nation moves closer to achieving its goals for economic development and reducing unemployment. Graduates equipped with quality education contribute more meaningfully to society, fueling innovation and progress.

The Visionary Leadership Behind the Success
At the helm of this transformative initiative is the Managing Director of NELFUND, whose leadership has been instrumental in driving its mission. By advocating for streamlined operations and robust stakeholder engagement, the MD ensures that the program remains student-centric. Their vision has not only expanded the reach of NELFUND but has also set a precedent for future educational initiatives in Nigeria.

NELFUND has distinguished itself more than just a loan scheme; it is a movement that seeks to democratize education in Nigeria. Through state-by-state sensitization campaigns, technical innovations, and a commitment to transparency, NELFUND is reshaping the educational landscape. The program stands as a testament to what can be achieved when governance prioritizes inclusivity and opportunity.

As Nigeria continues to grapple with challenges in its education sector, NELFUND provides a beacon of hope

Recent reports from the National Bureau of Statistics (NBS) have become a focal point of criticism and scepticism, especially by the political opposition and perpetual doubters of any positive report about our country.

In its Q2 labour survey report, the NBS says the unemployment rate fell from 5.3 % in Q1 to 4.3% in Q2. Compared to the unemployment rate of 5.3% in Q4 2022, the report shows some progress, as it also indicates a lower level of youth unemployment.

The NBS also reported that GDP growth in the third quarter rose to 3.46% year-on-year in real terms, higher than the 2.54% recorded in Q3 2023 and above the second quarter growth of 3.19%.

The report stated that the GDP's performance in the third quarter of 2024 was driven mainly by the services sector, which recorded a growth of 5.19% and contributed 53.58% to the aggregate GDP. The agriculture sector grew by 1.14%, from the growth of 1.30% recorded in the third quarter of 2023. The industry sector's growth was 2.18%, an improvement from 0.46% recorded in the third quarter of 2023.

"In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2024 compared to the corresponding quarter of 2023.

"In the quarter under review, aggregate GDP at basic price stood at N71,131,091.07 million in nominal terms. This performance is higher than the third quarter of 2023, which recorded an aggregate GDP of N60,658,600.37 million, indicating a year-on-year nominal growth of 17.26%.
Amid a singer's uninformed opinion that went viral on social media that our country's economy is in shambles, the NBS sounded positive, reporting that the economy is improving, as proven by the successive growth from Quarter one of 2024 up until Quarter 3.

Ordinarily, such positive reports should elicit hope and joy that our country's economy is getting out of the woods, but they were instead met with scepticism from some quarters.

Unfounded allegations by critics that the data was manipulated fail to recognise the transparent and robust methodologies employed by the NBS. These methodologies are continually reviewed and improved to ensure reliability, providing a solid foundation for the data presented.

In contrast, when the NBS reported that inflation figures rose, these same voices quickly endorsed the report, illustrating some Nigerians' selective acceptance of data based on preconceived narratives and confirmation bias rather than its authenticity.

It is crucial to emphasise that the NBS operates as an independent entity committed to providing accurate and objective data. These statistics are not mere numbers; they are derived from comprehensive research and analysis, reflecting the multifaceted realities of our national economy. The processes align with global best practices, and the bureau's methodologies are continually reviewed and improved to ensure reliability.

Moreover, the positive economic indicators should be viewed as milestones in the ongoing efforts by the Tinubu administration to strengthen Nigeria's economy.

The figures by NBS reflect that a combination of government initiatives is yielding fruits, boosting the service sector and the stock and bond market, creating jobs, and driving sustainable growth. These developments, sooner than later, will translate into improved living standards, increased job opportunities, and a more robust economy for all Nigerians.

While challenges remain, dismissing progress in a knee-jerk manner, as some Nigerians do, negates the hard work of the government and the private sector, which contributed to these achievements.

The same way some Nigerians dismiss and deride economic data is very prevalent on the judicial front and in the work of the Independent National Electoral Commission. When a politician wins an election or a legal case, the song is that it has been a fair contest and justice has been delivered; however, when a candidate or party loses, the supporters binge on derision against INEC or the judges. Only recently, a prominent Nigerian went abroad to dismiss the 2023 election as a travesty because his candidate did not win the poll or the legal challenge instituted.

As Nigerians, we must respect our judicial system, even when the outcome does not favour us. The symbol of justice is a pendulum, and judges uphold justice based on the rule of law, without public pressure or sentiment. Accusations of corruption, whenever verdicts defy personal expectations, undermine the integrity of our courts and the democratic principles we cherish.

We must turn the page over these matters and stop clinging to scepticism when presented with favourable data reflecting our nation's progress. Those who truly want Nigeria to become a great country we all claim we seek will not use every opportunity to take out the flames of national progress. While the challenges remain and are being addressed, we must always recognise and celebrate every progress.
- Onanuga is Special Adviser to President Tinubu on Information and Strategy

We are pleased to inform the public that construction will begin tomorrow on the link road connecting Oluyole Federal Constituency and Egbeda Ona Ara Federal Constituency, specifically the Ajao-Muslim Road.

E-Signed:
Hon. Adebowale Amoo
DG, Akin Alabi’s Campaign Organization.

The attention of the management of Peace Mass Transit has been drawn to a viral video circulating on social media regarding an incident on November 8, 2024, involving one of our buses (PMT 1678) traveling from Mararaba to Enugu, which encountered a mechanical issue midway through the journey near Otukpa, Benue State.

After conducting a thorough investigation, we can confirm the following:

No passenger's contributions of #1,000 were required or collected.

While some passengers suggested contributing #1,000 each to expedite repairs, the driver—adhering to company policy—declined this offer and assured passengers that Peace Mass Transit management was actively handling the repair costs.

Peace Mass Transit management promptly approved and sent the required #12,000 to the driver for purchasing the replacement part (centre bearing) to ensure swift repairs and continuation of the journey.

The Mararaba branch manager confirmed that the funds were sent, and the driver also acknowledged receiving them.

By the grace of God, the passengers, including the young man who posted the video, successfully arrived at their destination aboard the same bus following the completion of the necessary repairs.

Given our findings that no passenger contributions were necessary or collected, we respectfully ask that the passenger who posted the video and shared false information tender an unreserved apology within 72 hours. We shall not allow any person to use our hard earned name to attract followership to their social media page.

He should address this matter promptly and retract the initial post.

At Peace Mass Transit, we remain committed to providing reliable, customer-centred service, and we apologise for any inconvenience this incident may have caused.

Thank you for your continued trust in us.

Peace Mass Transit Management

Members of the Lakurawa armed group have been retreating as the military ramps up coordinated ground and air attacks on the group’s camps across Kebbi and Sokoto states.

Following an attack by the Lakurawa group on the Mera community in Augie Local Government Area of Kebbi State, which claimed 17 lives, the army headquarters deployed a contingent of soldiers to the area.

Upon arrival in Birnin Kebbi, the troops, according to Abdullahi Idris Zuru, media aide to the Kebbi governor, met with deputy governor Abubakar Umar Tafida at the Cabinet Office before proceeding to Mera.

Zuru said the troops succeeded in dislodging the bandits and recovering several rustled cattle left behind as the attackers fled.

This deployment came after an urgent appeal from Kebbi State governor, Dr Nasir Idris, for federal support to address the escalating violence by armed groups disrupting life in rural communities.

“The governor has pledged to safeguard the lives and property of all Kebbi State citizens, leading him to seek federal intervention to counter-terrorism across the state,” Zuru said.

Meanwhile, the National Security Adviser (NSA), Mallam Nuhu Ribadu, has assured that the Lakurawa armed group terrorising Northwestern states would be flushed out of Nigeria.

Ribadu gave the assurance on Wednesday in Abuja at the opening ceremony of the 2024 Comptroller-General of Customs Conference, where he represented President Bola Ahmed Tinubu.

“We will chase the so-called Lukarawa out of our country. We will put critics to shame and shut their mouths in no time.

“Boko Haram, which has been ravaging our country, is now on the run. Its members are now moving to other neighbouring countries because Nigeria is no longer conducive for their operations,” he said.

He also said signs that things are getting better with the economy are there for all to see, citing increased crude oil production in the Niger Delta and the fiscal reforms by the Central Bank of Nigeria (CBN) as part of such efforts.

“Crude oil production has hit 1.8 million bpd and the Central Bank has been sanitised; no one is taking a dime from the CBN. When we promised that we would fix this country, we will do so because President Tinubu has never been a failure,” he added.

NELFUND Student Loan Disbursement Update

98 Institutions across all geo-political zones are now benefiting from student loans.

105,844 Students are receiving financial support, empowering them to achieve their educational dreams.

₦11,047,793,949.80 disbursed to date.

NELFUND Student Loan Disbursement Update

98 Institutions across all geo-political zones are now benefiting from student loans.

105,844 Students are receiving financial support, empowering them to achieve their educational dreams.

₦11,047,793,949.80 disbursed to date.

-Student Loan Scheme http://nelf.gov.ng

-Consumer Credit Corporation http://credicorp.ng

-Compressed Natural Gas (CNG) Initiative http://pci.gov.ng

-Digital and Creative Enterprises (iDiCE) Program http://boi.ng/idice

-Skill-Up Artisans Programme (SUPA) http://supa.itf.gov.ng

National Youth Talent Export Programme (NATEP) http://natep.gov.ng

-Housing Initiatives https:///d6z9uZEw

-Nano-Business Support http://tucnigeria.org.ng

-Nigerian Youth Academy (NIYA) http://niya.ng

-Micro and Small Business Loans https:///dbTgUAW9

-NDDC Internship Scheme for Niger Delta Youth http://nyis.nddc.gov.ng

The Chartered Institute of Bankers of Nigeria and the Body of Banks CEOs in Nigeria wish to express their concern over the persistent social media criticisms targeted at Nigerian banks. It is essential to highlight the significance and contributions of the banking sector, which remains one of the most regulated and integral parts of Nigeria’s economy.

The Nigerian banking industry is governed by rigorous regulations issued by the Central Bank of Nigeria (CBN), its primary regulator, and other direct and indirect regulatory bodies. A large number of these banks are publicly listed and adhere to the highest standards of transparency and compliance, as required by domestic and international investors and regulatory agencies.


In addition to the CBN, regulatory bodies like the Nigerian Exchange Group (NGX), Securities and Exchange Commission (SEC), Financial Reporting Council (FRC), and Nigeria Deposit Insurance Corporation (NDIC), play pivotal roles in maintaining transparency, integrity, and accountability within the sector.

Nigerian banks are also staffed with a wealth of globally competitive and certified professionals, regulated by both national and international bodies. These professionals, coupled with partnerships with globally recognized service providers and investments in cutting-edge technologies, elevate Nigerian banks to global standards in every market they operate.

Internationally renowned auditing firms, rating agencies, and other independent bodies routinely evaluate the operations, financial records, and compliance of Nigerian banks. These rigorous assessments ensure that the banks align with global best practices, reflecting their commitment to delivering trustworthy and quality services to the public. As a result, Nigerian banks consistently receive high ratings both individually and collectively.


Investor confidence in Nigerian banks is evident, with the sector being a top choice for retail and institutional investors alike. The resilience and dynamism of the banking industry are built on the trust of its customers, demonstrating that the sector is a cornerstone of economic growth and development in Nigeria. Rather than being criticized, the continued strength of this sector should be a source of national pride.

The banking sector is pivotal to Nigeria’s economic growth, contributing significantly to individuals, businesses of all sizes, and the society at large. The economy’s development relies heavily on the banks’ intermediary roles, and their positive impact is undeniable.

If any individual or group has concerns or grievances regarding the operations of any bank, they are encouraged to direct such issues to the appropriate regulatory authorities. These bodies are equipped to address concerns impartially and professionally, ensuring that all matters are resolved through the proper channels.


Resorting to social media attacks, blackmail, or smear campaigns not only undermines the hard-earned reputation of these institutions but also seeks to unfairly manipulate targeted banks. We urge individuals engaged in such actions to desist and consider the facts before making accusations. The regulatory agencies are well-positioned to handle concerns with diligence and professionalism.

We remain committed to delivering the highest standard of banking services, guided by the regulations that govern our industry. Together, let us foster an environment of trust and collaboration, recognizing the positive impact of a professional sector that brings pride to Nigeria and Africa. As the banking sector continues its efforts to build a resilient Nigerian economy, we call on citizens to support its mission of creating a stronger economy that works for everyone.

In a show of strong support for GTCO and move to debunk false allegations being levelled against the GTCO and its Executive Management by faceless and unqualified entities using the media, the Central Bank of Nigeria (CBN), issued a Press Release today reassuring the public that their deposits with Nigerian Banks are safe.

The Statement titled, “CBN Reaffirms Commitment to Financial System Stability, Safety of Depositors’ Funds” and signed by Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.), begins with a firm assurance: “The Central Bank of Nigeria (CBN) wishes to reassure the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.” It further stated, “The CBN recognises the crucial role that confidence plays in banking operations and wants to affirm that all deposits in Nigerian banks are secure. The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system. Regular stress testing is conducted to identify potential vulnerabilities, helping to ensure that our financial institutions are resilient.”

On how the Monetary Authority fulfills its oversight responsibility, ensuring system-wide monitoring of licensed Banks in Nigeria as well as their offshore operations, the Statement says, “In addition, the CBN has implemented Early Warning Systems that proactively detect and address emerging risks, allowing us to provide timely solutions to any foreseen issues.

The Bank’s approach to Risk-Based Supervision ensures that it focuses its regulatory efforts on institutions that may pose the highest risk to the financial system. This targeted strategy allows it to maintain a robust oversight mechanism while promoting the overall health of the banking sector. Furthermore, the CBN has established Memoranda of Understanding with the various countries where Nigerian banks' subsidiaries are located.

This collaboration enhances regulatory coordination and ensures that our banks operate within a safe and sound framework in accordance with banking regulations, both domestically and internationally.”

In closing, the Ag. Director said, “The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.”

Nigeria, Brazil set to operationalize direct flights under BASA arrangements

Nigerian author, Reno Omokri has taken to his social media account to respond to political activist, Aisha Yesufu after calling him a liar.

According to a tweet by Aisha, she wrote: “In the last 8 years no bandit leader was killed’ Who killed Shekau? If one has to lie, do it with something that will take fact checking to disprove,”

Replying to the tweet, Omokri said: “Dear Aisha, Thank you for your feedback. In case you are unaware, there are differences between terrorists, bandits, and criminals. Please allow me to draw your attention to the distinction amongst these terms, according to the official Global Terrorism Index handbook and the Oxford English Dictionary.

“A terrorist is an individual who uses violence and intimidation against civilians to achieve a political objective. Boko Haram, for example, is a terrorist organisation, and Abubakar Shekau was a terror leader.

“A bandit is defined as a person whose occupation is organised theft, often in a group. They have no political motives. Their nefarious activities are purely for economic reasons. The cattle rustlers and community raiders currently plaguing Northern Nigeria are officially designated as bandits by the Global Terrorism Index, and bandit leaders include Ali Kachala, Boderi Isyaku, Sani Dangote, Modi, and Nagala, all of whom were killed when Mallam Nuhu Ribadu became the NSA.

“No bandit leader was killed under Buhari. Rather, General Buhari sanctioned that Sheikh Gumi meet with them.

“Finally, criminals are defined as persons who opportunistically commit crimes and are not coordinated or formed into bands.

“I do hope I have made the contrast amongst these three distinct groups clear. You may disagree with my political views. However, it is wrong to call me a liar.

“Please find attached the web address for the Institute for Economics and Peace, publishers of the annual Global Terrorism Index. It may help you understand these terms better: economicsandpeace.org

“If you fact-check these definitions above and find that I have lied or misrepresented the truth, I vow to donate the sum of twenty million Naira (₦20,000,000) to a charity of your choice.

“If you ever need clarifications on anything I have published, please do reach out to me and I will gladly make clarifications.

”Once again, I thank you for your feedback and pray that God may bless you and your family.”

Sam Maduka Onyishi Rings Closing Bell at NGX as C&I Leasing PLC Reports 81.6% Surge in H1 2024 Gross Earnings

C&I Leasing PLC, West Africa’s largest integrated leasing company, celebrated a significant milestone on September 26, 2024, as Dr. Samuel Maduka Onyishi, MON, the chairman of the company,rang the closing bell at the Nigerian Exchange Group (NGX).

The Enugu state-born businessman, who is also the founder of Peace Mass Transit and Chancellor, Maduka University Enugu, joins the illustrious rank of successful, distinguished Nigerian businessmen who have done this in the past.

This momentous event came on the heels of the company’s impressive half-year financial results for 2024.

C&I Leasing PLC reported a remarkable 81.6% year-on-year increase in Group gross earnings, reaching N18.2 billion as of June 30, 2024, compared to N10 billion recorded during the same period in 2023.

These results, disclosed during the NGX’s Facts Behind the Figures presentation, underscore the company’s strong financial performance and strategic growth initiatives.

During the presentation, Mr. Okechukwu Nnake, Chief Financial Officer (CFO), highlighted the company's key financial achievements and future outlook.

He attributed the robust growth to cost optimisation, diversification efforts, and the adoption of advanced technologies, which have propelled profitability and added shareholder value.

"We are committed to ensuring sustained growth by leveraging market opportunities," Nnake emphasised.

In reviewing the company’s performance over recent years, Nnake noted a steady upward trajectory.

Gross earnings increased by 25%, rising from N17.94 billion in 2022 to N22.41 billion in 2023, driven by strong net lease income growth. Operating profit also rose by 14%, reaching N5.69 billion in 2023, while profit before tax (PBT) surged by 52%, climbing from N1.02 billion in 2022 to N1.55 billion in 2023.

Despite a dip in Profit After Tax (PAT) to N273 million in 2023, compared to N577 million in 2022, Nnake expressed optimism for future profitability, assuring stakeholders that “by next year, the dividend will do better.”

Mr. Lenin Ugoji, the GMD, elaborated on the company's three decades of leadership in the Nigerian leasing industry, noting that strategic business planning and leadership transitions have fortified its position amidst market challenges.

"Our commitment to excellence and business sustainability has enabled us to contribute significantly to the Nigerian economy," Ugoji stated.

Founded in 1991, C&I Leasing PLC has grown from a consumer finance leasing company into a diversified conglomerate, providing essential services to various multinational and indigenous companies across West Africa.

Its service offerings now span Fleet Management, Personnel Outsourcing, Marine Services, and Telematics Tracking Services.

C&I Leasing PLC continues to stand as a major player in the region’s business support services, positioning itself for long-term growth and continued leadership in the leasing industry.

A former British diplomat, Mr David Roberts, has warned that foreign interests may be behind the planned October 1 cost of living protest.

A group, the Coalition of Concerned Nigerian Citizens, had on August 28 in Osogbo threatened to stage a bigger protest on October 1 unless their improvement in the standard of living.

However, Roberts, who was director of the British Council in Nigeria, in a statement, warned that foreign interests may use Nigerians’ genuine concerns to destabilise the country.

Speaking against the background of last week’s revelation by the US Secretary of State, Mr Anthony Blinken, that African Stream, a media outlet associated with David Hundeyin, one of the supporters of the August #endbadgovernce protests, is an undercover Russian intelligence psychological operation aimed at destabilising Nigeria.

Subsequently, African Stream has been banned from Facebook due to its alleged Russian undercover links.

“In light of the wide use of Russian flags in the last days of August protests and taking this new revelation by the U.S. Secretary of State, Nigeria ought to be very careful about the proposed October 1st protest,” the former envoy said, adding, “Nigeria should take more care and alert its citizenry to the truth about such platforms and their agents.”

At a press conference in Washington last week, Blinken accused African Stream of working for Russia, contrary to its claim of mainstreaming Africa’s interests.

However, Hundeyin, in an interview with Russia Today, a Russian broadcast media, denied the allegation, describing it as a typical American tendency to label perceived opposing viewpoints.

Recalling that many of the August protesters in the North displayed the Russian flags, Roberts admonished the federal government to take the threat of another protest in October seriously and take measures to nip it in the bud

“As many of those behind the protests are linked to Mr. Hundeyin and others from the African Stream network, Nigeria only needs to look at what is happening in Mali, Niger and Burkina Faso to understand the peril they face,” he warned.

The federal government, in the wake of the August protests against the rising cost of living, said the demonstrations were backed by external bodies and subsequently charged a Briton, David Wynne, and 12 other Nigerians with treason.

The National Orientation Agency (NOA) is inviting every Nigerian to join the Real Nigerian Transition Challenge,a celebration of our culture, values, and identity. This challenge is all about showcasing your pride in being Nigerian by wearing your traditional attire and sharing your creativity through a fun transition video.

Here’s how to participate:

1. Put on your favorite Nigerian native attire.
2. Create a transition video while enjoying the Real Nigerian song (available across all music platforms).
3. Post your video on social media, tag @NOA_Nigeria , and use the hashtag #RealNigerian.

This is an opportunity to come together, highlight the diversity that makes us strong, and proudly display what it means to be a true Nigerian.
Exciting prizes await the best entries!

Entry ends on the 2nd of October and winners will be announced on the 4th of October.
Let’s unite in celebrating our heritage and make Nigeria proud!