₦airaland Forum

As Nigeria grapples with its worst economic crisis in decades, young parents across the country are facing an increasingly difficult challenge raising children amidst soaring prices for basic necessities.

With food costs spiralling out of control, many families find themselves living below the poverty line, struggling to provide essential items like baby food and diapers.

Since President Bola Ahmed Tinubu took office and initiated a series of economic reforms, including the removal of the fuel subsidy, the cost of living has increased.

Fuel prices have skyrocketed, and food and transport costs have more than tripled in the last year and a half. For many parents, this has led to heartbreaking decisions about how to allocate limited resources.

“It has really not been easy, especially this year. The prices of baby food, milk, diapers, and other essentials have more than doubled, and our salaries have remained the same,” Tayo Balogun, a mother of three told Business Day.

“My husband and I are just trying to survive, prioritizing our needs one at a time,” she added.

Inflation has reached record levels, with food inflation in particular driving the majority of the increase. As of October 2024, inflation surged to 33.88 per cent, with food inflation climbing to 40.9 per cent in June.

The relentless rise in prices is leaving many young parents with no choice but to ration food, including basic items like eggs, which have become too expensive for most families to afford regularly.

“I think the hardship has taught everyone to plan ahead,” said Dotun Lawal, a banker who married last year.

“My wife and I agreed on having only two children, so we can give them the best care and not stretch ourselves too thin,” he added.

German President Dr. Frank-Walter Steinmeier is set to visit Nigeria on a three-day official trip, starting from December 10 to 12.

This visit marks the third high-level exchange between the two nations since President Bola Ahmed Tinubu’s inauguration in May 2023.


During his visit, President Steinmeier will be accompanied by a delegation of top industry leaders and board members from successful German companies specializing in IT, high-tech, and energy.

President Steinmeier’s itinerary includes meetings with key Nigerian leaders, including President Tinubu and Dr. Alieu Omar Touray, President of the Economic Community of West African States (ECOWAS).

In addition to his official engagements in Abuja, President Steinmeier will also visit Lagos, where he will meet with renowned Nigerian cultural icons, including Dr. Nike Okundaye, popularly known as Mama Nike of the Nike Art Gallery, and Nobel Laureate for Literature, Prof. Wole Soyinka.

Segun Sowunmi, a chieftain of the Peoples Democratic Party (PDP) and former spokesman for the presidential campaign of former Vice President Atiku Abubakar, revealed that he has asked the former VP twice about his plans for the 2027 presidency.

According to Sowunmi, Atiku is still in a reflective mood, weighing his options carefully before making a decision.

“Atiku Abubakar is one man I love with my bones. The heart will decay quickly but the bone is the last thing that will decay.

“I have asked him twice, ‘are you running? Are you done? If you are running, what do we do with this structure? If you’re not done we have to do something different’,” Sowunmi said. “He was quiet, he was still in a reflective mood. He’s not said ‘no’, he’s not said ‘yes’ and I respect that.”

He added, “Any sensible person should know that the burden of election is heavy. No human being that has had the kind of experience, challenges and even the kind of betrayal Atiku has endured should not reflect deeply before saying ‘I’m going to run’.

“I don’t do guess work. I’ve asked him twice, he didn’t answer. When he answers, whatever answer he gives, we’ll take it to the next level.”

It is believed that Atiku’s body language suggests he is warming up to run for the presidency again.

Atiku ran unsuccessfully for President of Nigeria six times, in 1993, 2007, 2011, 2015, 2019, and recently in 2023.

Nigeria and its neighbours in Chad and Niger have launched a joint military offensive against the Lakurawa terrorist group.

It is understood that the countries’ forces have commenced joint patrols to contain cross-border threats posed by the Lakurawa terrorist group.



The new terrorist group is affiliated with terrorists in the Sahel, particularly from Mali and Niger Republic. It has been linked to heinous criminal activities in the northern part of Nigeria and its neighbours. The group’s activities intensified after the coup in Niger, and they have been responsible for several attacks, including a recent explosion in Zamfara State.

The Lakurawa group is a Mali-based terrorist organization known in the Sahel as Jama’atu Muslimina. The group’s leader, Ahmadu Kofa, has ancestors originally from Nigeria, specifically from the Kebbi Empire. The group has been planning to establish its caliphate for over 25 years, a researcher with the Usmanu Danfodiyo University, Sokoto, Dr Murtala Rufa’i, said.


The Lakurawa group has been attacking villages to collect taxes and has set up camps in 10 Local Government Areas of Sokoto and Bauchi states before its operations became known to the public weeks ago.

The Nigerian Defence Headquarters, in November, announced the emergence of the sect, which the military said operates mainly in Sokoto and Kebbi states.

The Nigerian Safety Investigation Bureau (NSIB) has launched an investigation into a serious incident involving a Fly Bird HS 125 aircraft, registration number 5NKAL.

The aircraft, which was en route from Nnamdi Azikiwe International Airport, Abuja (DNAA), to Kotoka International Airport, Accra (DGAA), experienced technical failure on December 6, 2024.

During the flight, the aircraft experienced a loss of both engines. Initial reports indicate that while climbing to flight level 280, the crew reported an issue with engine number 2.

Shortly after, the aircraft was approximately 25 nautical miles southwest of the VOR station VONUK when the crew requested to divert back to Abuja.

The request was immediately granted, and the aircraft descended to flight level 190. However, during this descent, engine number 2 failed at flight level 230.

As the situation worsened, the crew declared a Mayday emergency as engine number 1 also failed at approximately 5,000 feet while approaching Nnamdi Azikiwe International Airport.

Despite the challenges, the crew successfully landed the aircraft at Abuja Airport at 18:16 UTC, with all four people on board – three crew members and one passenger – unharmed. There were no injuries reported.

In a statement issued on Sunday, Mrs. Bimbo Olawumi Oladeji, Director of Public Affairs and Family Assistance at the NSIB, confirmed the incident and revealed that a full investigation is underway.

Preliminary findings reveal that the aircraft was climbing through flight level 240 when the engine issue was first reported.

Governor Siminalayi Fubara of Rivers State has taken aim at a media aide to the Federal Capital Territory (FCT) Minister, Nyesom Wike, calling him “a data boy” and “dog seller” in a scathing rebuke over comments about projects in Etche-Omuma.

Fubara, addressing the media on Friday, questioned the qualifications and motivations of the aide, who had reportedly criticized the Governor’s recent project inaugurations. The Governor accused him of lacking understanding of governance despite being close to a former governor for eight years.

“If they love you, the appointment they gave to one boy the other day, if you were good, why didn’t they give you that appointment? Go and check yourself, something is wrong with you,” Fubara remarked, expressing his dissatisfaction with the aide’s social media criticisms.

He added that individuals who resort to online insults, like selling “dogs” and engaging in petty behavior, should reflect on their life choices and contribute more meaningfully to society.

Fubara’s comments were in response to claims that the projects he was commissioning in Omuma were merely continuations of those initiated by former Governor Wike. The Governor clarified that while his administration respects past efforts, it is focused on delivering new, impactful projects that cater to the strategic needs of the people.

“We will not celebrate things that will not have meaning,” he stated during the inauguration of the remodeled Government Girls’ Secondary School in Ahoada, a project he inherited upon taking office. “This investment will provide quality education for the girl-child and contribute to shaping responsible citizens.”

Fubara also used the opportunity to affirm his administration’s commitment to meaningful and enduring projects, contrasting them with previous initiatives that he claimed lacked significant impact. “Projects’ delivery is not for mere fanfare,” he said, emphasizing the importance of addressing critical development needs.

The Governor expressed gratitude to the Ekpeye people for their support, despite facing harassment and intimidation. He cited the unjust detention of traditional rulers and the Chief of Staff, Dr. Edison Ehie, as examples of the challenges they had faced. “The truth is always clear: enemies have a time, their team cannot last forever,” he declared, reaffirming his belief that justice and victory were imminent.

Despite police probe, Zenith Bank yet to respond to complaints of missing share dividends, accusations of forged statement of Account leveled against it by Aquitane oil and gas.

After two weeks of reports emerging over allegations of diversion of share dividends and forgery of its bank statement against Zenith bank leveled by Aquitane, the bank is yet to settle the dividends controversy involving companies affiliated to Aquitane even as the claim by the oil and gas company regarding the company’s account statement with the bank said to have been falsified remains unresolved

According to findings from the media investigations, these matters remain pending with the police as Zenith Bank is yet to put forward a detailed defense and have not yet resolved the matters.

Recall that two weeks ago Premium Times and other news platforms had reported that two staff of Zenith Bank were quizzed by the police over the ongoing investigation of allegations against the bank following petition to the police by Aquitane oil and gas.

*Zenith versus Aquitane Oil & Gas*

In what has become a disturbing development in Nigeria’s banking sector, Aquitane Oil & Gas Ltd., a key player in the country’s downstream oil industry, had leveled grave accusations against Zenith Bank Plc, alleging forgery, unlawful asset sale, and the diversion of ₦1.4 billion in dividends.

Aquitane claims that Zenith Bank, along with Veritas Registrars and Quantum Zenith Securities, was involved in a scheme that resulted in the manipulation of their bank accounts and statements and deliberate withholding of dividends for over a decade, despite repeated demands.

Quantum Zenith Securities, a subsidiary of the bank, is accused of facilitating the illegal and unauthorized sale of their Zenith Shares, while Veritas Registrars allegedly withheld dividends owed to its sister companies. The allegations of Zenith Bank’s misconduct are egregious including strong claims and evidence of forgery.

A forensic audit conducted by Aquitane revealed inconsistencies in the bank statements, suggesting deliberate data manipulation aimed at concealing unauthorized transactions and asset sales amounting to hundreds of millions of Naira. These alleged actions by Zenith Bank pose significant risks to public trust and could have serious implications for the integrity of Nigeria’s financial system.

This case also raises serious questions about the credibility of the regulatory oversight within the banking sector and may lead to broader scrutiny of the country’s major financial institutions. As police delve deeper into Aquitane’s petition, which has already sparked intense public interest, calls for transparency and accountability in the investigation are expected to intensify. The case underscores a pressing need for robust financial checks, as Nigeria’s banking sector faces renewed call for sound corporate governance.

An Air Peace flight bound for Lagos was on Thursday morning abruptly grounded due to a bird strike at the Nnamdi Azikiwe International Airport in Abuja.

The flight, scheduled to depart at 6:30 a.m., was taxied on the runway and ready for takeoff when the unexpected incident occurred.

Lagos-based human rights lawyer, Inibehe Effiong, who was on board, took to his social media handle to recount the experience.

He said, “While taxing on the runway and just before takeoff, our Air Peace flight from Abuja to Lagos scheduled for 6:30 AM today was stopped forcefully, resulting in panic and screams by some passengers.

“The captain attributed the incident to a bird strike. We have been deboarded to await either a replacement or repair of the aircraft.

“Thankfully, whatever happened did not occur after takeoff. It would have been scarier.”

The Nigerian police in Abuja are investigating Zenith Bank Plc over alleged falsification of a shareholder’s bank statements and withholding of share dividends.

The investigation was prompted by a petition from Aquitane Oil and Gas Limited which accused the Zenith Bank of falsifying the oil firm’s account statement.

Aquitane Oil also accused the bank of refusing to pay over N1.4billion dividends accrued from 10,775,299 and 17,425,300 shares units belonging to its affiliate firms – Southern Grace Investment Ltd and Globular Trading Investment Services Ltd respectively.

Aquitane Oil, which petitioned the Force Criminal Investigations Department (FCID) in Abuja, accused the bank of falsifying its account statement in an elaborate effort to conceal the non-payment of the dividends of the shares of the two subsidiary firms.


The company said the two subsidiaries had not been paid their dividends since the purchase of the shares about 2008 and that the bank falsified its own account statements to “conceal” the failure to pay the accumlated dividends.

Premium Times learnt that the police interrogated two representatives of Zenith Bank regarding the case at the FCID Abuja on Wednesday. The Zenith Bank officials were said to be from the oil and gas and legal departments of Zenith Bank.

The police did not detain the officials because they were not direct subjects of investigation.

A source said the police would still interrogate other officials of the bank, like the chief compliance officer and the account officer handling the accounts of the bank.

When contacted for his comment over the telephone on Thursday, Zenith Bank’s spokesperson, Ayoola Kusimo, rather asked, “How did you get that information?”

When encouraged to respond to the issues and care less about the source of the information, Mr Kusimo said, “I’m not aware.”

The Investigating Police Officer, Anota Oluseye, a superintendent of police, said he “cannot comment on an ongoing investigation.”

The FCID launched the investigation after Aquitane Oil and Gas Limited to sent a petition dated 11 October 2024 to the Inspector-General of Police Olukayode Egbetokun.

In the petition, submitted through Lukman O. Fagbemi & Co, the petitioner called on the IGP to investigate Zenith Bank for attempting to “conceal the illegalities” concerning the company’s shares in the bank.

Aquitane Oil and Gas Limited stated that “dividends of 10,775,299 and 17,425,300 units of Zenith Bank shares bought by Southern Grace Investment Ltd and Globular Trading Investment Services Ltd respectively, have not been paid to the firms since 2008.”

The Zenith Bank shares were bought during the Initial Public Offer held by Zenith Bank in 2008 with Veritas Registrars Ltd as the registrar.

Aquitance Oil said in 2020, Southern Grace and Globular Trading realised that the dividends for their shares had not been paid by Zenith Bank since 2008.

Following the discovery, the oil company said its subsidiaries contacted Veritas Registrars Ltd, the registrars of Zenith Bank, to enquire about their dividends, however, Veritas reportedly did not provide any information.

“Our client also holds a bank Account No. 1011453742 with Zenith Bank Plc as a customer,” the petition read.

Aquitane Oil said a bank statement obtained on 21 August 2020, from a Zenith Bank branch, showed the financial institution had not been receiving dividends from the lender.

However, the company alleged that Zenith Bank falsely claimed in letters dated 17 June 2008, and 22 July 2008, that dividends had been paid into Aquitane Oil accounts with the lender and “fabricated and concocted a false Statement of Account with Zenith produced sometime in February 2021 in respect of Aquitane’s Account No: 1011453742,” to show dividend payments into the bank account of Aquitane and a debit balance of about N1 billion.

“Surprisingly, in an attempt to conceal the illegalities committed with regard to the shares dividend, Zenith Bank subsequently produced documents including two letters dated 17 June 2008 and 22 July 2008 to create the false and spurious narrative that the dividends from the said shares were paid into Aquitane Accounts with Zenith Bank,” the company noted.

It added that, “Zenith Bank thereafter fabricated and concocted a false Statement of Account produced sometime in February 2021 in respect of Aquitane’s Account No. 1011453742 which now showed dividend payments into the Bank account of Aquitane and a debit balance well in excess of N1 billion Naira,” noting that the statement of account materially “conflicts with and contradicts the Statements of Account issued earlier by the same Zenith Bank on 21st August 2020” in the normal course of business upon request from a branch.

“This established the fact that the account was in credit and that no dividend payments were lodged into the account at any time,” it added.

The growing political tension within the New Nigeria Peoples Party (NNPP) in Kano has reached a boiling point over the deepening rift between Governor Abba Yusuf and his political mentor and party godfather, Rabiu Kwankwaso.

Tensions have escalated following Kwankwaso’s control over critical party and local government decisions without input from the governor.

This includes appointing local government chairmen and influencing the party’s political machinery, which has fueled growing resentment within the governor’s camp.

“Abba (Gov Yusuf) does not want to denigrate Kwankwaso, but he truly wants to be independent. Ninety per cent of the commissioners were imposed by Kwankwaso, and Abba is still working with them. This shows he still respects him.

“For a long time, Abba wanted to drop some commissioners who are either incompetent or disloyal to him, but out of respect for Kwankwaso, he reluctantly accommodates them for peace to reign,” an insider close to the governor told Daily Nigerian.


Except for the governor’s appearance at Kwankwaso’s birthday celebrations on October 21, where the godfather used the opportunity to corner the governor at the Mallam Aminu Kano International Airport lounge, the duo has not met or spoken in recent months.

Insiders said the governor shunned meetings convened by Kwankwaso at his Miller Road and Maitama residences in Kano and Abuja respectively, without giving any excuse.

“He (Governor Yusuf) earlier agreed to attend the Miller Road meeting at night but he kept Kwankwaso waiting through midnight and refused to come,” an insider revealed.

Abia South Senator Enyinnaya Abaribe has slammed President Bola Tinubu’s cabinet reshuffle, accusing him of showing the Southeast “renewed shege” (suffering).

Abaribe criticized the replacement of Minister of Women Affairs Uju-Ken Ohanenye with Bianca Ojukwu as Minister of State for Foreign Affairs.

Abaribe expressed dissatisfaction with the reshuffle, stating it doesn’t feel like progress. “For my constituents, nothing has changed. They call it ‘Renewed Shege’ not ‘Renewed Hope’.”

The lawmaker alleged Tinubu breached the constitution by neglecting federal character in the reshuffled cabinet.

He said, “The president has breached it for the last 18 months. We thought that with these changes, maybe there will be some adjustments that will also put some balm on what is going on in the minds of people from the South East.

“I want to tell everyone that the Igbos want fairness and equity, which are in the constitution. Treat us as you are treating everybody else.”

Dr. Obafemi Hamzat, the Deputy Governor of Lagos State, has warned that the state could face severe risks from climate change, particularly the threat of submersion due to rising sea levels.

During a strategic meeting with state officials, he stressed that Lagos, with its 180-kilometre shoreline and dense population, is especially vulnerable.

Dr. Hamzat cited similar issues faced by New York City, stressing the need for immediate climate action to protect future generations and mitigate the effects of global warming on the state.

He noted that the most sig­nificant challenge in the coun­try is that “we don’t know how to manage land” and that “our physical plan is lost”.


He added: “In Lagos State, because of our geogra­phy, because of our popula­tion, because of our size, we are 22 million, we occupy only 0.4% or less than 0.38% of the land mass of Nigeria, and we are responsible for 10% of the people.

“In the UK, 14% is London City. The rest is the federal government. New York Un­derground, the same thing. So how do we manage our lands? So if our Ministry of Justice, our lawyers, and our judges don’t have this proper understanding that the future of our children is threatened when these cases come to court, then we are missing the point.”

He said that in New York, they’ve stopped approval for high-rises for the next few years because the city is sinking due to the number of high-rises.

President Bola Tinubu during the Federal Executive Council (FEC) has dissolved both the Ministry of Niger Delta and the Ministry of Sports Development.

The National Sports Commission (NSC) will now assume the duties previously managed by the sports ministry.

Additionally, the FEC has approved the merger of the Ministry of Tourism with the Ministry of Culture and Creative Economy.

Former President Olusegun Obasanjo has said that denying the Igbo people the presidency due to past secession attempts is unfair.

Obasanjo made the remarks during a meeting with the League of Northern Democrats led by former Kano State Governor Ibrahim Shekarau, at the Olusegun Obasanjo Presidential Library in Abeokuta.

Obasanjo said that Nigeria’s three major ethnic nationalities – Hausa/Fulani, Yoruba, and Igbo – have all, at some point, attempted to break away from the country. He cited the North’s strong move to secede through the Araba movement, revealing that his friend Ahmed Jooda had confessed to being part of the plot.

“I think all of us in Nigeria have to rethink… It bleeds my heart when people say because the Igbo had carried out a secession, an Igbo man cannot be the president of Nigeria.



“I say what nonsense? There is no section of Nigeria that has not planned a secession. What is ‘Araba’ in the North? The North planned to break up Nigeria. Ahmed Jooda, a very good friend of mine, said that.

“What is treasonable felony? So, who among us can say I am better than the other? None! So, let us put our heads together and build a country together,” he said.

The Nigerian government has rejected Shell’s proposed sale of its onshore oil business in the country, dealing a significant blow to the energy giant’s plans to exit the sector.

The divestment, aimed at selling its Nigerian onshore assets to Renaissance Africa Energy Company Limited, failed to meet regulatory requirements.


Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), confirmed the decision during the launch of the “Project One Million Barrels of Oil Per Day” initiative in Abuja on Monday.

He explained that Shell’s deal, despite years of negotiation and a pending $2.4 billion transaction, “could not scale the regulatory test.”

“In total, five divestment applications were submitted for approval. While four passed and secured ministerial consent, Shell’s proposal to transfer its assets to Renaissance Africa Energy Company Limited was rejected,” Komolafe said.


Shell had initially struck a deal in January with a consortium of companies, paving the way for the sale of its onshore business.


The transaction was to provide Shell Petroleum Development Company (SPDC) with $1.3 billion upfront and an additional $1.1 billion upon consummation of the deal.

The sale came after Shell faced increasing challenges, including sabotage, theft, and environmental liabilities.

“This sale was a relief for Shell, as the company has been seeking to offload these assets since 2021,” said Komolafe.


However, Nigeria’s commitment to protecting its national interest trumped the transaction.


“The government remains committed to free entry and exit in business transactions, but such moves must align with national priorities,” he added.

Komolafe also noted that the country is committed to upholding the principles of fair business practice, in line with President Bola Tinubu’s vision.

“Nigeria fully supports the philosophy of free market operations as reiterated by our dear President in his recent Independence Day speech.


The NUPRC is guided by seven regulatory pillars in the upstream oil sector to ensure sanity and protect national interests.”

Despite the setback, Shell remains firm in its stance that it is not leaving Nigeria. Last week, Osagie Okunbor, Managing Director of SPDC, clarified that the company is merely shifting its portfolio to deep offshore investments.

“We are not exiting Nigeria. Instead, we are focusing more on the deepwater where our technological and financial capabilities provide a significant advantage,” he said at the Nigerian Economic Summit.

As the government continues to oversee the divestment process in the oil sector, Shell’s future strategy appears geared towards capitalising on offshore ventures, distancing itself from the challenges plaguing its onshore operations.

In recent months, the soaring cost of basic commodities, including toothpaste, has forced many Nigerians to revert to traditional practices, such as using chewing sticks to maintain oral hygiene.

With toothpaste prices skyrocketing, families across the country are turning to more affordable alternatives to manage their finances amidst the harsh economic conditions.

Chewing sticks, which have long been used in Nigeria for their medicinal and antibacterial properties, are making a comeback.


For many families, the price of toothpaste, which can now exceed N5,000 for a supply that lasts less than two weeks, has become a luxury they can no longer afford.

As a result, people like Mr. Vincent Osamese and Miss Adunni Hungbo have reverted to using chewing sticks, citing the financial relief it provides.

Osamese, a photographer, shared his experience with Vanguard: “A few months ago, I introduced the use of a chewing stick in my house when I realized I was spending N4,000 on toothpaste in just three weeks.


“My children use toothpaste like water, and my wife initially objected, but after experiencing the cost firsthand, she switched to chewing sticks herself.”


Similarly, Hungbo, a trader, noted how the sudden increase in toothpaste prices led her to find an alternative.

“The toothpaste I used to buy for N1,500 was now N2,000. I couldn’t afford it, so I switched to a chewing stick for N100, and it’s been working fine for me,” she said.


As Nigeria’s inflation and economic struggles persist, more families are looking for ways to cut costs.


Mr. Fehintola Ademide, a plumber, stated: “With rising fuel prices and the general cost of living, it’s becoming impossible to afford basic things.


“Toothpaste is just one of many items affected. I’ve switched to chewing sticks, and my wife has introduced powder paste for the children.”

Chewing sticks, derived from plants with medicinal properties such as Garcinia kola and Anogeissus leiocarpus, have been proven to have significant antibacterial activity.

According to research by the National Library of Medicine, these sticks are effective against various bacteria, including those associated with dental diseases.


For families like Maureen Agu’s, chewing sticks have become a practical and affordable solution.

“Myself and my two grown children now use chewing sticks, and I’ve introduced powder paste for my younger kids. We all have to cut costs wherever we can,” she said.

This shift toward traditional methods of oral care reflects the larger economic pressures facing Nigerians today.

As costs continue to rise, many are being forced to adapt to practices to save cost and survive the harsh economic conditions in the country.

Nigerians in the diaspora have been urged to return to the country to build a better nation.

This appeal was made to all Nigerians abroad by the Chairman, Nigerians in the Diaspora Commission, Abike Dabiri-Erewa.

Dabiri-Erewa on behalf of the Federal Government said it is important that every Nigerian return to the country to contribute their quota to the development of the nation.

Speaking while delivering the 12th Afe Babalola University, Ado-Ekiti ABUAD Convocation lecture on Saturday, the NIDCOM chairman said the experiences gathered by Nigerians abroad are needed back home.


According to her, such experiences would help proffer solutions to the socioeconomic challenges hampering Nigeria’s growth and development.


Dabiri-Erewa also noted that the commission is working effortlessly to support the framework for the facilitation of diaspora engagement in national growth and development.