₦airaland Forum

Prices of oil soared on Monday, and the dollar strengthened after the United States hit Iran’s nuclear facilities over the weekend.

Asian markets mostly dropped, although Chinese stocks were higher, as traders wait to see whether Tehran could respond or not.

One option on the table would be to potentially create economic havoc by seeking to close the strategic Strait of Hormuz — which carries one-fifth of global oil output.

Iran is the world’s ninth-biggest oil-producing country, with output of about 3.3 million barrels per day. It exports just under half of that amount and consumes the rest.

When trading opened on Monday, Brent and the main US crude contract WTI both jumped more than four percent to hit their highest price since January.

They pared these gains however and by mid-afternoon in Asia both were up around 1.1 percent.

“So far, satellite images reportedly suggest that oil continues to flow through the Strait, which may explain the muted market reaction to the news,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

“Many remain optimistic that Iran will avoid a full-blown retaliation and regional chaos, to prevent its own oil facilities from becoming targets and to avoid a widening conflict that could hurt China — its biggest oil customer.”

But “if things get uglier” the price of US crude could even spike beyond $100 per barrel, she said. WTI was trading around $75 per barrel on Monday.

“An oil price shock would create a real negative impact on most Asian economies” as many are big net energy importers, economists at MUFG warned.

Tokyo closed down 0.1 percent, while Seoul fell 0.2 percent, Sydney lost 0.4 percent and Jakarta shed 1.7 percent.

Hong Kong was up 0.6 percent, however, while Shanghai closed 0.7 percent higher. London, Frankfurt and Paris were down in early trade.

The dollar rose against other currencies but analysts questioned to what extent this would hold out.

Controversy has surrounded the reported resignation of Goodluck Ihemnacho, the Administrator of the Ahoada East Local Government Area in Rivers State, following the emergence of a troubling video that has cast doubt on his resignation.

In the resignation letter directed to the Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd.), Ihemnacho was quoted as expressing his appreciation for the opportunity to serve.

“I respectfully write to your esteemed office to inform you of my resignation as the Administrator of Ahoada East LGA… I extend my heartfelt gratitude to the government of Rivers State and the wonderful people of Ahoada East for deeming me worthy to serve… from the 11th of April 2025 to the 20th of July 2025,” the letter stated in part.

However, on Saturday evening, a video emerged online depicting a man identified as Ihemnacho being violently assaulted by a group of unidentified individuals.

In the footage, he was seen sitting on the ground, visibly upset, as he was repeatedly struck with canes while off-camera voices urged him to “sign that thing” and “put your signature”.

Two documents, presumed to be resignation letters, were observed on a chair in front of him, and he seemed to be holding a pen.

A second individual, later recognized as the council secretary, Mr. Alabi Umegbewe, was also forcibly brought into the room and attacked.

The authenticity of the video has not been officially challenged, and while the reasons behind the assault remain unclear, sources suggest it may be related to the upcoming local government elections.

Concerns have also been raised regarding the absence of the two mobile police officers assigned to the council administrator.

A source indicated that both officers were away “eating” at the time of the incident, prompting further inquiries into potential complicity or negligence.
As of the time of this report, no official statement has been released by the police or the Rivers State Government concerning the incident.
Ihemnacho was unavailable for comments as his mobile phone.

On the 25th of February 2023, Nigeria conducted its 7th general election. The result, which was announced by the Independent National Electoral Commission (INEC) showed that only 24.9 million persons out of the 93.47 million registered voters voted in the election. This represents 26.72 percent voter turnout.

Speaker of the House of Representatives Tajudeen Abbas and Representative Daniel Asama Ago of the Labour Party co-sponsored a bill to amend the Electoral Act and require all eligible Nigerians to vote in national and state elections in response to this glaring voter apathy.

Voting in elections would be mandatory for all eligible Nigerians. Without a good reason, not casting a ballot might cost you ₦100,000, six months in jail, or both. Penalties may not be imposed on those who can provide a court justification for their incapacity to vote.

There has been a lot of back and forth regarding this bill. There have been arguments for and against the bill.

Voter indifference during elections will be addressed if the measure passes congressional inspection, according to Ago, who stated that the goal of the bill was to promote citizens' involvement in the political process. Ago, a Labour Party representative from Bassa/Jos North, thinks that requiring voting can lessen the impact of vote buying.

According to Benjamin Kalu, the Deputy Speaker, this is a positive move in the right direction. He also gave instances of other nations that maintain the practice, such as Australia.
From constitutional violations to practical impossibilities and political distrust, the lawyers argued that the proposed compulsory voting bill is not only misguided but unconstitutional, out of touch with the current democratic reality, and symptomatic of a legislature that has lost focus on true electoral reforms. They affirmed in their various reactions that compulsory voting cannot save a broken democracy.
Ridiculous - Olisa Agbakoba

The proposed measure to make voting mandatory in Nigeria has drawn criticism from human rights attorney and Senior Advocate of Nigeria Olisa Agbakoba, who stated that he would sooner be imprisoned than follow the law.

Agbakoba condemned the National Assembly’s attempt to enforce compulsory voting, arguing that it fails to address the root causes of voter apathy in the country.
“Look at the ridiculous one in the National Assembly about voting being compulsory. If that bill were to pass, I would say, ‘Agbakoba, we will not obey it.’ I’ll plead conscientious objection. I’d rather go to prison for six months than obey it,” he stated.

Attack on Fundamental Rights - Martins Obono
Nigeria's planned mandatory voting measure has drawn harsh criticism from attorney Martins Obono of Abuja, who calls it "draconian" and a "attack on fundamental rights." He highlights that coercing participation violates the Nigerian Constitution's provision of citizens' freedom to choose whether or not to vote.
Obono also raises concerns about the viability of implementing such a rule, pointing out that the government is unable to punish or prosecute the millions of people who might choose not to cast ballots. He contends that the bill ignores institutional inefficiencies and mistrust of the election process, two major factors contributing to voter apathy.
Bill Violates Human Right - Falana
Falana, in a statement issued on Monday titled ‘Compulsory Voting is Not Enough,’ faulted the legislative move on constitutional grounds.
He said the bill is inconsistent with several provisions of the 1999 Constitution, which guarantee citizens’ rights to privacy, freedom of thought, and freedom of conscience.

“The Speaker of the House of Representatives probably wants Nigeria to join Egypt, the only African country out of 23 globally with provisions for compulsory voting.

“The said constitutional provisions protect the fundamental rights of the Nigerian people to privacy, freedom of thought and conscience, as well as the freedom to register and vote in national and state elections conducted in Nigeria.

“However, it is doubtful whether the Speaker and his colleagues have paid sufficient attention to the relevant provisions of the Constitution. Otherwise, they would have realized that the compulsory voting is constitutionally invalid in every material particular on the ground that it is inconsistent with Sections 37, 38, 77(2), 135(5) and 178(5) of the Constitution,” he stated.
Falana criticized Nigerian courts for dismissing the enforce-ability of Chapter II without considering Section 224 of the Constitution, which mandates political parties to align their programs and policies with the principles in that chapter.
Misplaced Priority - Sam Erugo
Sam Erugo, SAN, an expert in constitutional law, likewise rejected the bill, in his view argued that it reflected misaligned legislative goals. Although mandatory voting could be ideal in a functioning democracy, he contended that Nigeria's democratic environment falls well short of that goal.
“The compulsory voting bill is a clear case of misplaced priority” he stated. It is possible that the right to vote in a participatory democracy should be preserved, guaranteed, and given such significance that it becomes mandatory for all eligible citizens to cast a ballot at the proper time in a true democracy. However, I believe we are a long way from that kind of democracy. There are now no advantages and no real right to vote. In other words, the right to vote is unprotected and, for obvious reasons, appears to be pointless. The vote is barely significant. Second, the bill's proposal offends the feelings of Nigerians who are upset that their votes are not taken into consideration.

The mandatory voting bill falls short. Voting apathy is not about unwillingness to vote, it's about a deep-rooted discontentment with the electoral process. Forcing people to the polls won’t change the following realities because they are the real issues:
●Failure to Believe Elections Are Open and Fair
It is widespread among Nigerians to think that election outcomes are not free and fair. The value of voting will not be accepted until elections are seen as being run fairly and legitimately.
●Unregulated violence and feelings of political instability
Threats of violence at polling stations make people less likely to vote in regions that are conflict areas. Nobody wants to risk safety for the chance that a vote may not matter.
●Scarce or Inefficient Public Services
People encounter poorly maintained roads, ineffective health services and weak power every single day. Many people no longer trust democracy to fix their problems when elected officials fail to keep their commitments.
●Perception that votes don’t count
A lot of individuals regard their votes as pointless due to the large influence of election fixing, buying votes and court overruling election results. As a result, many people feel no reason to get involved in politics.
Recommendations
● There is need to restructure the Independent National Electoral Commission (INEC) to guarantee its independence is necessary. Strictly punish election rigging, vote buying and manipulation of results.
●Ensure nationwide civic education campaigns targeting youths and first-time voters. Use local languages, influencers, traditional leaders and social media spread the awareness.
●The government should encourage town hall meetings and performances scorecards for elected officials and also enable citizens to demand transparency through platforms like FollowTheMoney, BudgIT.
●Encourage the use of software that monitors what politicians do after getting elected such as The Campaign Management System App by Veegil Tech.
Governance, electoral transparency and gaining the public’s confidence must be set right before Nigeria can require voting. If that’s the case, mandatory voting ends up being meaningless and doesn’t truly help democracy.

Nigeria is facing a severe food security crisis due to climate change, increased population growth, and other social challenges. Nearly 4 in every 10 Nigerians lack enough food to eat, and it is aggravating with farming becoming more difficult.

What Is Food Security?
Food security is a situation where people have regular access to enough safe and nutritious food. In Nigeria, millions struggle daily to be able to afford or obtain meals, especially in rural communities.
The Problem?
●Climate change is causing unpredictable rainfall, floods, droughts, and infestations.
●These reduce farm output and hurt farmers' earnings
Government’s Response
●Nigeria has enacted various policies over the years, such as
●The Agricultural Transformation Agenda (2011): Enhance food output and generate jobs.
●National Food Security Policy (2016): Focused on sustainable access and climatic resilience.

A New Emphasis:
The government has now begun promoting climate-smart agriculture, which includes the planting of drought-resistant crops, efficient irrigation, and organic farming practices to preserve the soil and enhance yields.

How Technology is Helping Farmers
New technology is working significantly to modernize Nigerian farming:
●E-wallet systems enable farmers to buy fertilizer and seeds via their mobile phones.
●Weather programs guide farmers in planning plantation and harvest.
●Online marketplaces eliminate the middlemen and put farmers into direct contact with consumers
These tools are helping boost food production and farmer incomes.
Remaining Challenges
Despite progress, major hurdles remain:
●Poor roads and storage facilities hinder the transport of food.
●Insecurity in rural areas weakens farming.
●Small-scale farmers struggle to get loans.
●Many policies are not well enforced.

What Can Be Done?
Improved cooperation between government, private business, and NGOs is the answer.
Consider Farmcrowdy, for example—it enables financing and support for farmers by connecting them with investors.
To make real progress, Nigeria must:
●Provide more financing support to smallholder farmers
●Build rural infrastructure
●Train farmers in climate-resilient and sustainable agriculture.
●Implement policies more forcefully.

Key Recommendations
1. Create a National Climate-Smart Agriculture Strategy
Build a nation-wide plan incorporating early warning systems, intelligent farming, and weather prediction. This will enable farmers to plan better and minimize losses from climatic shocks.
2. Fix Rural Infrastructure
Particularly in agricultural regions, invest in roads, storage facilities, and irrigation systems. Working with private companies can speed up these enhancements.
3. Support Small Farmers with Better Financing
Provide low-interest loans, crop insurance, and flexible financing—especially for women and young farmers who frequently lack access to credit.
4. Improve Policy Coordination & Oversight
Organize an autonomous agency to monitor the success of food security initiatives, guarantee appropriate money use, and battle agricultural scheme corruption.
5. Empower and Educate Farmers
Instruct farmers on how to adopt sustainable farming techniques and adjust to climate change using local languages and channels they trust.
6. Cold storage, solar-powered irrigation, and processing tools can all be powered using renewable energy to support farming. This helps farmers overcome unreliable power and growing climate risks.

Though difficult but not impossible, Nigeria is battling for food security in light of climate change. Nigeria can create a food system that nourishes its people and fosters economic development with careful planning, robust relationships, and inclusive policies.

Have you ever felt like getting a job or medical care as a Nigerian is a big struggle? As there are 218–226 million people in Nigeria, we are the most populated country in Africa, and that number is expected to grow to 400 million by 2050. With the country’s growth, there’s lots of energy, but it places demands on resources and workplaces, leaving young Nigerians confined to hard times. Introducing the National Population Policy, which aims to control population growth and promote development by using family planning and reproductive health care. And under President Bola Tinubu, new actions such as conducting the 2025 census and helping youth are steps towards transforming this challenge into a benefit. Managing population growth in Nigeria can support young people to encourage and lead economic advancement. Even so, tough attitudes in some cultures, lack of funding, and problems with data can delay progress. It looks at how Tinubu’s direction will help young Nigerians become important members of the future by passing useful laws. Is it possible to make Nigeria’s population a major strength? We should see what happens.
Background & Policy Objectives
Founded in 2004 and updated now in 2019, Nigeria’s Population Policy works to control the nation’s fast population growth, which has been 2.6% each year. Nigeria’s youth population makes up most of the population, and its high fertility rate causes pressure on resources for young people. The policy tries to reduce the number of children to four per family, help with reproductive health, and make sure population growth fits with sustainable development. It also helps with the global goals of SDG 3 (Health) and SDG 5 (Gender Equality), working to improve health, education, and jobs.
Since Tinubu was elected, the policy is now being emphasized once more. In 2025, Tinubu formed an eight-member team whose job was to prepare for a long-required national census, which would provide accurate information for planning. The initiative from First Lady Oluremi Tinubu's Renewed Hope teams up with the National Population Commission (NPC) and UNICEF to make certain that all children are registered and able to use vital services. The result is that young people in Nigeria must prepare better for jobs, schooling, and healthcare. With data and youth empowerment as priorities, Tinubu’s government wants to use the policy to help progress, although implementation is essential.
Family Planning and Reproductive Health
To support the National Population Policy, family planning helps keep unintended births to a minimum and works to decrease maternal mortality (512 per 100,000 live births). Although worldwide, about half of women use modern contraceptives, in Nigeria, only 1 in 6 women do, which means that many still have unmet family planning needs. It increases access to contraception, youth health clinics, and sexual health knowledge for Nigerian youth, letting them make their own decisions.
Bridge that gap is a key goal for Tinubu’s administration. The Renewed Hope Initiative, started in 2024, works with the NPC and UNICEF so births are registered electronically and kids can receive healthcare and education. The First Lady highlighted that registering each birth is the first stage in counting every child in Nigeria and supports SDG 16.9 (legal identity for all). They open up healthcare to many people, mainly in locations where there are not many youth services available. Young Nigerians can access reproductive health education through mobile apps and community clinics, which are helping to overcome taboos about contraception.
As a result, young women can reduce their risks during pregnancy and decide what happens in their lives. For young men, they teach how to support equality between genders. When families use family planning, Tinubu’s government can lower the risk of childbirth and help young people create healthy families which opens up more resources for schools and jobs.
Development Implications
Even with 3.5 million new job-seeking Nigerians each year, the employment rate stays at 33%. A lack of space in schools and little money spent on hospitals (the health budget is 5% of GDP) prevents young people from reaching their potential. Problems in Lagos, like overpopulation and 38.9% poverty (87 million people), clearly show the pressure being placed on the country. If nothing is done, these problems could become greater by 2050, when Nigeria’s population is predicted to reach 400 million.
A properly designed population policy might lead to a demographic dividend, where more people of working age support economic expansion. Within the Renewed Hope Skills Acquisition Programme, young people in Nigeria are taught tech, construction and creative skills, in line with what the policy aims to do. Digital transformation led by Mr. Modi through broadband upgrades and the digital economy policy is meant to provide tech jobs to the youth. If Nigeria helps its young people, education and health systems reach a good standard, the country’s large youth group could support economic growth.
The policy helps reduce poverty and protect the environment by motivating smaller families which reduces resource strain. Young Nigerians can gain more access to education, work and affordable care which greatly supports the SDGs focused on health and gender equality. The emphasis on correct data during the 2025 census by Tinubu will make it possible to channel resources where they are most needed.
Challenges in Implementation
The population policy introduces a number of difficulties to deal with. Northern Nigeria is known for cultural and religious beliefs that make many people feel it is normal to have plenty of children, and many reject using methods to control the number of children they have. Due to the low share of public health (5%) in the country’s GDP (WHO recommends 15%), it is very difficult for rural families to access family planning services. Since the last census happened some time ago and the data is unreliable, getting everything ready for hurricane season is difficult. Tinubu said the country has 240 million people, yet not everybody agreed, and the suggestions were 218 million to 225 million.
The administration headed by Tinubu is handling these obstacles. In April 2024, the committee for the 2025 census was created so they could provide accurate data for planning, and they intend to achieve this with the aid of modern technology. But the committee struggles to get the money it needs because resources need to be found both at home and abroad. To succeed in the past, cultural resistance used community leaders as partners. The rules have caused delays in young Nigerians receiving both work and support, but Tinubu stressing youth vocational training and digital techniques gives relief.
54.3% of Nigerians now live in cities, so these areas require attention because residents can make use of more opportunities. To help the policy, youth in Nigerian rural areas should have access to mobile health care and online classes. If there is a lack of steady financial resources and steady government involvement, these problems might challenge what the administration wants to achieve.
Opportunities & Recommendations
Tinubu’s administration offers opportunities to harness Nigeria’s youthful population; learning platforms at NIPSS empower youth with skills for a tech-driven economy. The 2025 census will provide data to plan for schools, hospitals, and jobs, directly benefiting young Nigerians. Partnerships with organizations like UNICEF and the World Bank can expand family planning access, reducing fertility rates and easing resource pressure.
Quick Recommendations:
●Support Healthcare: Invest a minimum of 5% of the household budget in healthcare, mainly to aid family planning and improve health services for rural areas.
●Use social media platforms such as Twitter and Instagram to involve Nigerian youth in discussions about reproductive health, making use of their experience with technology.
●Coordinate with leaders of religious and traditional communities to make sure that family planning is understood as freedom, not a way to control population sizes.
●Make sure the 2025 national census provides correct population data that can be used for good planning and policy decisions.
●Promote Women’s Empowerment: Allow young women to go to school and work, which can reduce poverty and the high number of births
Young Nigerians can play a role by joining community health campaigns or advocating for policy funding on platforms like Twitter. These steps align with Tinubu’s vision of a productive, youthful population driving Nigeria’s growth.
Conclusion
With the National Population Policy that he has revitalized, President Tinubu creates the possibility for young Nigerians to find better jobs, better health, and greater opportunities. Reaching out to families with family planning, improving reproductive health, and setting up for the 2025 census form the basis for the future of development. Yet, the advancement of science is endangered by ongoing cultural opposition and not enough resources, which should be dealt with as a group effort.
Young Nigerians are what make the nation strong, and they can create change through talking on social media, helping others in their communities, or aiding the effort for accurate census registration. Promoting digital growth and helping youth offer hope, as long as people from all walks of life join in. Let’s check that every Nigerian is captured in the census numbers and also forms part of the nation. Talk about what is happening, know what’s going on, and push for the changes that will drive national progress as our population grows. “A stable population is the foundation of a stable nation.” Get involved in bringing positive changes.

The Bank Customers Association of Nigeria has stated that it has written to the Central Bank of Nigeria about the charges deducted from customers’ accounts.

This was made public by the president of BCAN, Uju Ogubunka, on Thursday at the 2025 Artificial Intelligence conference organised by SuperNews under the theme ‘Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience’.

This comes amid an increase and a migration to the end-user billing model for unstructured supplementary service data from charges being deducted from bank account balances, a move which BCAN had faulted, describing it as falling outside the scope of bank charges approved by CBN.

Speaking at the event, he said, “On the basis of excess charges, we have written to the Central Bank of Nigeria to find a permanent solution to it, and if they don’t, perhaps bank customers may have to come out to demand it. Let’s pray that they do that.”

Ogubunka also lamented the less-than-desirable experience of bank customers in the country, stressing that AI is in a good position to resolve some of the pain points.

He explained, “The truth is that when you talk of customer satisfaction in today’s Nigerian banking system, it doesn’t exist. That’s the truth. I’ve given you samples of where you can go, and you will find petitions, live petitions, and more going on at Bankers’ House, CBN, NDIC, mediation centres, and the law courts, and you will find all these things there. If people were really satisfied, they wouldn’t be complaining; they wouldn’t be petitioning. So, we cannot really say that AI has come to dwell with us.

“If AI has come to dwell with us, most of the issues being complained about would be taken care of by AI. That’s the truth.”

The keynote speaker at the event, Johnson Chukwu, highlighted some of the ways that AI can benefit the financial sector.

On consumer credit, Chukwu said, “Today, consumer credit is everywhere in this country because the machines are able to determine your income level and what you spend on. If you know the information available to the telco companies, they know who you make payment to and where you went to smoke. Once you make a payment, they track it, so they know your consumption pattern; they know how much comes to your account, so they can actually say, I can give Johnson a N50,000 loan. The loan is automated; you apply and get it in minutes.”

On boosting customer experience, Chukwu said the use of AI has led to “enhanced personalisation. One million customers, and each of them treated as an individual. You’re not a part of the crowd. The system knows you as an individual, knows your face, knows your eyes, knows your fingerprint, and knows where you’re coming from. In that case, it also narrows your demand to what fits your purpose.”

He added that it would also lead to faster complaint resolution, “Because the machine has so much data, when you make your complaint, it will be able to know what is best to do to address your complaint.”

He concluded by saying, “There are seven C’s to implementing AI. Capacity: you must have the capacity, you must have the capability, you must collaborate, you must have creativity, and you must have cognition, continuity, and control.

Zamfara State Governor, Dauda Lawal, has indicated that the turmoil affecting the Peoples Democratic Party (PDP) extends well beyond its 2023 presidential candidate, Atiku Abubakar, and is primarily rooted in conflicts of ego among party members.

Governor Lawal, who addressed journalists during a media session on Wednesday in Zamfara, emphasized that the issue is not confined to any one individual.

“Everyone has their own concerns; it’s not solely about Atiku Abubakar; it transcends him,” he remarked.

“This is an internal issue within the PDP, and we are making a deliberate effort to address it. I believe it revolves around personal egos — everyone, without exception.”

When questioned if he considered himself among those fueling the ego-driven discord, Lawal replied, “Yes.”

Further discussing Nigeria’s electoral process, Governor Lawal conveyed his belief that free and fair elections are achievable despite existing systemic obstacles.

He pointed out that his election as the first PDP governor in the state serves as evidence of electoral integrity as the 2027 elections approach.

“I would affirm this, as I witnessed it in Zamfara State — despite the influence of powerful individuals who can alter outcomes, along with the authority of the Federal Government and all that entails,” he stated.

“Indeed, there will still be a free and fair election. That was the basis for my election as the governor of Zamfara State. I was the first elected PDP governor in Zamfara State. Therefore, it was a free and fair election, and I am confident it will occur again. It is merely a matter of time.”

The PDP has found itself in a worsening crisis following its defeat in the 2023 elections, leading to a surge of defections to the ruling All Progressives Congress (APC), especially among National Assembly members and governors.

Among the notable recent defections is Akwa Ibom Governor Umo Eno. Likewise, Delta State Governor Sheriff Oborevwori, his deputy, Monday Onyeme, former Governor Ifeanyi Okowa, commissioners, and others also transitioned to the APC in April.

In response, the National Working Committee of the PDP convened an emergency meeting in Abuja to address the escalating disunity and internal strife.

Amidst the turmoil, former Vice President Atiku Abubakar — who has run for the presidency six times — has initiated discussions with influential political figures such as Peter Obi and Nasir El-Rufai, aiming to establish a strong opposition coalition in preparation for the 2027 elections.

He characterized this initiative as a reaction to what he perceives as the encroaching threat of a “one-party state” under the APC.

Nevertheless, not everyone within the PDP supports the coalition initiative. Party veteran, Bode George, remains hopeful about achieving internal reconciliation as the party gears up for its 100th National Executive Committee (NEC) meeting.

However, additional complications arose when the Independent National Electoral Commission (INEC) rejected the PDP’s NEC notice due to procedural issues.

In a letter dated 13 June 2025, INEC pointed out non-compliance with regulations that stipulate that meeting notices must be co-signed by both the National Chairman and Secretary.

The correspondence indicated that only Acting Chairman Umar Damagum had signed the notice, neglecting to include National Secretary Samuel Anyanwu.

The NEC, scheduled for 30 June, is anticipated to tackle leadership conflicts and zonal issues. In the meantime, the G5 faction, led by FCT Minister Nyesom Wike, has reiterated its demand for the 2027 presidential ticket to be zoned to the South.

“Too many cooks spoil the soup—too many political parties spoil governance." These were the words of Abdullahi Ganguje, APC National Chairman, who recently, audaciously, called for a one-party state in Nigeria. “China is one of the strongest economies in the world, and it’s a one-party system,” he added.
Ganduje was, of course, re-echoing President Tinubu, who would use state resources and his incumbency to lure all influential politicians into his party and hollow out the opposition parties. Some observers and critics have been outraged by Ganduje’s statement, but such indignation ignores the fact that Nigeria is a de facto one-party state.
The truth is, Tinubu and Ganduje are pushing at an open door. The fluidity and fickleness of party loyalty in Nigeria lead inexorably to a one-party state.
When APC chairman Abdullahi Ganduje recently suggested there was ‘nothing wrong with a one-party state,’ it sparked concern among citizens and observers. Has Nigeria’s democracy begun to lose its balance?
President Bola Ahmed Tinubu has since rubbished such allegations, arguing his government is still loyal to democratic ideals and the spirit of multi-party politics.
According to the President, “To those who ring the alarm that the APC is intent on a one-party state, I offer you a most personal promise. While your alarm may be a result of your panic, it rings in error. At no time in the past, nor any instance in the present, and at no future juncture shall I view the notion of a one-party state as good for Nigeria. I have never attempted to alter any political party registration with INEC.
Equally, my friends, we cannot blame anybody seeking to bail out of a sinking ship even without a life jacket.
Look at my political history. I would be the last person to advocate such a scheme. In 2003, when the then-governing party tried to sweep the nation clean of political opposition through plot and manipulation, I was the last of the progressive governors standing in my region. In all their numbers and false grandeur, they boasted of ruling, not governing, Nigeria for the next half century or more. Where are they now? Yet, I stood alone. My allies had been induced into defeat. My adversaries held all the cards that mortal man can carry. Even with all of that, they could not control our national destiny because fate is written from above.
A greater power did not want Nigeria to become a one-party state back then. Nigeria will not become such a state now.
Nigeria has been functioning as a multiparty democracy ever since its restoration to civilian rule in 1999. Nevertheless, there have been concerns over democratic backsliding in the country due to the leading position of the ruling party, increased voter apathy, and suppression of the opposition voices. Since the elections in 2023, most opposition parties are much weaker as they either faced internal crises or were consumed by the political process.
Challenges Under the Surface
As the concept of a one-party state should be disturbing, the truth could be more complicated. Several systemic weaknesses enable the powerful parties to prosper in the democracy of Nigeria:
1.Youth Disengagement
Most of the youths in Nigeria feel marginalized in the political process, although they are in large numbers and energetic. The post-2023 elections, adding to the continued economic struggle, have disillusioned different citizens.
The #ENDSARS movement demonstrated the strength of youth activism; still, that momentum has not converted into changes in political structure.
2.Weak Political Institution
The political parties in Nigeria do not have good ideological grounds. They tend to be outlets of personal ambitions as opposed to being venues of a clear policy course. The resultant effect is regular party poaching, low party whip, and superficial voter participation.
3. Lack of Trust in Electoral Systems
The 2023 general polls were characterized by claims of irregularities, inefficiency of logistics operations by INEC, and apprehensions about transmitting results electronically. There is a great number of voters who do not believe that their vote would matter, a critical tendency in any democracy.
If these trends persist, Nigeria could drift toward a de facto one-party state. This would erode checks and balances, reduce civic engagement, and potentially reverse years of democratic progress. Citizens may feel further alienated from governance. Voting is not the only thing about democracy. It is about justice, fairness, freedom, and the willingness to question authority.

A loss of N183bn was recorded at the close of trading at the Nigerian Exchange on Tuesday, as bearish sentiments continued to weigh on key market indicators, dragging several blue-chip stocks into negative territory.

According to Market data from the NGX, the All-Share Index declined by 348.61 points, or 0.3 per cent, to close at 114,910.16, compared to the previous day’s close. The dip was also reflected in the market capitalisation, which dropped from N72.7 tn to N72.5 tn, representing a N183 bn loss in investor value.

Despite a marginal increase in trading activities, the overall market mood remained negative. A total of 787,305,500 shares valued at N25.67bn were traded in 23,170 deals, showing a 9 per cent improvement in volume, a 17 per cent rise in turnover, and a 5 per cent increase in the number of deals compared to the previous trading session.

Out of the 128 listed equities that participated in the day’s session, 29 recorded price gains while 35 posted losses. C and I Leasing led the gainers’ chart, appreciating by 10 per cent to close at N4.62 per share. Learn Africa followed with a 10 per cent increase to close at N4.18, while Mutual Benefits Assurance also gained 10 per cent to settle at N1.10 per share.University Press rose by 9.82 per cent to close at N5.48 per share, while Deap Capital and LivingTrust Mortgage Bank gained 8.64 per cent and 8.39 per cent, respectively.

On the flip side, Transcorp Power topped the losers’ table, shedding 9.98 per cent to close at N295.70 per share. Oando lost 9.97 per cent to close at N58.25, Ellah Lakes dropped 9.87 per cent to close at N4.29, and Omatek Ventures declined by 9.33 per cent to close at N0.68 per share. Other notable losers include Custodian Investment, which fell by 8.63 per cent, and Sterling Financial Holdings, which declined by 8.55 per cent.

In terms of trade volume, Zenith Bank recorded the highest volume of traded shares with 96.2 million units, followed by Guaranty Trust Holding Company with 83.4 million shares. United Bank for Africa and Access Holdings also recorded significant activity, trading 65.2 million and 64.2 million shares, respectively.

Performance across key indices reflected the mixed sentiments in the market. The Top 30 Index dropped by 0.28 per cent, while the Banking Index declined by 0.2 per cent. However, the Pension Index rose by 0.43 per cent, indicating interest from institutional investors. The Insurance Index increased by 0.4 per cent, the Industrial Index gained 0.16 per cent, and the Premium Index recorded a marginal loss of 0.02 per cent.

Despite the day’s losses, the market has shown moderate gains in broader timeframes, with the All-Share Index posting a one-week gain of 0.26 per cent, a four-week gain of 4.97 per cent, and a year-to-date return of 11.64 per cent.

Today, the SEC’s role in overseeing the nation’s capital markets is more critical than ever. But what exactly does the SEC do, and why does it matter to everyday Nigerians?

Since its establishment in 1992, the Securities and Exchange Commission (SEC) has been a cornerstone of Nigeria's quest for a stable and transparent capital market. It operates under the oversight of the Federal Ministry of Finance and serves as the leading regulatory agency of Nigeria's financial markets, including such important institutions as the Nigerian Stock Exchange (NSE), the Central Securities Clearing System (CSCS), and the other financial intermediaries.

The SEC was established under the Investment and Securities Act (ISA) 1999, where the commission was mandated to regulate and develop the capital markets in Nigeria. The mandate of the SEC focuses on encouraging efficiency, fairness, and transparency as well as the protection of investors, discouraging market manipulation, and providing a sound legal environment for market operations. The ISA, as amended in 2007, further embedded the SEC as the lead regulator, granting it the authority to license market participants, oversee the issuance of securities, implement disclosure obligations, and sanction malpractices.

Central to the SEC's mission is investor protection. The commission supervises and enforces rigorous standards of licensing and oversight of capital market intermediaries such as brokers, dealers, and fund managers to guarantee that qualified professionals operate in the system.

It compels public companies to disclose timely and accurate information on financial performance, governance, and significant events so investors can be informed and make good decisions.

To combat misconduct, the SEC actively prosecutes misconduct like insider trading, market abuse, and unauthorized investment schemes. It also regulates the Investor Protection Fund (IPF), which compensates retail investors for losses due to the failure or misconduct of registered operators.
The SEC initiative aligns with Nigeria's broader economic goals of building the financial sector, encouraging foreign investment, and mobilizing domestic resources to support infrastructure, entrepreneurship, and inclusive growth. ISA 2007 supports this vision by aiming to create an open, fair, and efficient capital market that encourages long-term capital formation and economic development. Through encouraging regulatory certainty and enhanced oversight, the SEC is positioning Nigeria's capital market for integration into the global financial system.

For small-time Nigerians who invest in shares, bonds, or mutual funds, the SEC is not merely a regulator but a trustee of trust. Silent behind the scenes, the Commission ensures that the capital market is a place that is safe, transparent, and equitable, particularly for the small investor. With its unrelenting focus on investor protection and ethical conduct, the SEC is consolidating an avenue for Nigeria's financial future.

The Nigerian Securities and Exchange Commission is not merely a stock exchange and broker regulator—it is the trust builder in the nation's capital market. By setting up and enforcing the rules of the game in finance, the SEC guarantees public companies give timely and accurate financial information, prosecutes fraud, and closes down insider trading.

When rules are broken, the SEC moves fast, imposing big fines, suspending licenses, or taking action in court. These are not show actions; they safeguard regular Nigerians from devastating scams and fraud schemes that can wipe out their life savings.

In conclusion, for the Nigerian man and woman in the street, the SEC's work is passionately personal. It is a custodian of hard-earned money, striving to foster an honest capital market where investors can take part safely. By requiring company openness and penalizing those who play fast and loose with investor funds, the SEC levels the playing field. That market trust translates into business growth, instills job creation, and fuels economic growth that benefits all Nigerians.

From the individual investor to the economy at large, the SEC's unyielding commitment to fairness and accountability ensures that the capital market is a basis for prosperity, starting with you and me.

The 'Nigeria First' policy is a strategic economic initiative introduced by President Bola Ahmed Tinubu and approved by the Federal Executive Council (FEC). This policy aims to prioritize local content in government procurement and industrial development, thereby strengthening Nigeria's domestic economy and promoting self-reliance

President Bola Tinubu was the one that proposed the Nigeria First policy; this is part of his administration’s broader economic reform agenda. This policy mandates all federal ministries, departments, and agencies to give absolute priority to Nigerian goods, services, and know-how when spending public funds.

This policy, as stated, seeks to foster a business culture that is bold, confident, and very Nigerian. Government investment must now directly benefit our people and industries by changing how we spend, procure, and build. “If there are any businesses to be done by anybody, the priority will be Nigeria first of all. If you have any local content, there is no reason for you to go outside this country to import.”

Impact on the Nigerian Economy:
●Boost to Local Industries: By mandating that government ministries, departments, and agencies (MDAs) prioritize Nigerian-made goods and services, the policy is expected to stimulate local manufacturing and production.

●Job Creation: Increased demand for local products and services is anticipated to create employment opportunities across various sectors.

●Economic Diversification: Reducing reliance on imports will encourage the development of diverse sectors within the economy, fostering resilience against external shocks.


Impact on Nigerians:

●Enhanced Employment Opportunities: The emphasis on local procurement is expected to lead to job creation, particularly in manufacturing and related industries.

●Economic Empowerment: By supporting local businesses, the policy aims to empower Nigerian entrepreneurs and reduce poverty levels.

●Skill Development: The policy includes provisions for technology transfer and capacity development, which will enhance the skill sets of Nigerian workers.



Criticisms & Concerns
Ex-vice president Atiku Abubakar has also been an outspoken critic of the policy, calling it a "tired PR stunt" and calling on President Tinubu and his administration to practice what they preach. He called out the genuineness of the policy, saying that government officials continue to indulge in foreign imports while touting local patronage.
Atiku specifically called on President Tinubu to show sincerity by replacing his foreign-made vehicles with locally manufactured ones, like those from Innoson.
Although the policy seeks to drive local content, critics say Nigeria's industrial capacity at the moment might not be enough to respond to the demands of such a regulation. In the IT sector, for instance, there are issues with the availability of domestic companies that have the capability to provide the state-of-the-art solutions government agencies need.
The policy can result in substandard services or compel reliance on substandard local substitutes if the necessary investments in capacity building and infrastructure do not emerge.
Some economists warn that enforcing the policy without adequate preparation could lead to increased costs for consumers. If local products are more expensive or of lower quality compared to imports, consumers might bear the brunt, leading to dissatisfaction and potential resistance to the policy.

Challenges
●The policy was unveiled without a comprehensive action plan or implementation schedule.
●The transition to local sourcing by Ministries, Departments, and Agencies (MDAs) and the consequences of non-compliance are not well communicated to the public.
●Many Nigerian industries, particularly in manufacturing and technology, lack the scale, efficiency, or technical quality to meet government needs reliably.
●Public procurement demands, especially in sectors like defense, ICT, and healthcare, may exceed the current capacity of local suppliers.
●The policy does not outline financial support for local businesses to scale up or improve quality.
●SMEs and startups, who are key to local innovation, have little clarity on whether they’ll benefit from tax reliefs, grants, or low-interest loans under this initiative.
●A major point of criticism is the perceived hypocrisy of government officials who still use foreign-made goods—especially luxury cars and imported software.

●Without top-down modeling of the policy (e.g., using Innoson vehicles or locally made ICT solutions), the credibility and seriousness of the campaign are weakened.
To ensure the success of the policy , the government must back it up with a definitive implementation strategy, quantifiable objectives, and stringent enforcement mechanisms to guarantee its success.
In addition to providing fiscal incentives like tax relief, grants, and low-interest loans to SMEs, it must place the highest priority on investing in indigenous industrial capacity, especially in manufacturing, ICT, and agriculture.
The application of locally produced goods is a great way through which public officials can set the example and gain the trust of the people. Open procurement practices and independent audits are paramount in thwarting corruption and politicization.
Finally, the policy should align with Nigeria's obligations on international trade to avoid sanctions while promoting local competitiveness through the development of quality and infrastructure.

Popular Nigerian singer David Adeleke, popularly known as Davido has announced that he is withdrawing from performing alongside Mary J Blige and 50 Cent at the latter’s concert billed for London.

The concert, which is part of 50 Cent’s Legacy tour, is scheduled to be held on July 3 at the Tottenham Hotspur Stadium.

Davido made his decision to pull out of the concert in a statement shared on his Instagram stories on Saturday, June 14, 2025.

The hitmaker clarified that his decision was not a result of poor ticket sales, explaining that “it is a matter of principle and respect for my craft.” He added that the concert would continue as planned, but without him.

According to Yobe State lead representative Mai Mala Buni and Borno State lead representative Babagana Zulum, President Bola Tinubu is deserving of a second term because of the achievements of his administration.

At the All Progressives Congress (APC) North East Consultative Forum meeting in Gombe, Buni and Zulum made this declaration.

Speaking at the function, Buni said Tinubu has proven to be a capable leader in guiding Nigeria through regional and international difficulties, guaranteeing the country’s continuous development.

According to the State lead representative of Yobe State, Tinubu implemented changes during the previous two years with the goal of setting Nigeria up for prosperity and the advancement of the country.

According to his excellency, it will take more than four years for Tinubu’s ideas and programs to be successfully carried out and maintained for any real impact.

He underlined that Tinubu’s reelection in 2027 will guarantee the advancement and continuation of the current changes for the good of the country.

Buni emphasized that Tinubu’s government has implemented fresh security initiatives to address instability in the North.

According to him, these actions will improve food sufficiency and strengthen food security by enabling locals to return to their fields.


“In the last two years, President Tinubu’s administration introduced bold reforms to improve citizens’ lives,” Buni said.

He understood that although the reforms have brought about difficulties and obstacles, they have also given rise to new optimism for a better future.

“These policies require careful strategic planning and sufficient time, and a single term may not be adequate for their full implementation.

“To deliver lasting results, more than one term may be needed for effective and efficient execution of these initiatives,” Buni continued.

Buni urged people in the Northeast to continue supporting the federal government and security forces in their efforts to bring about enduring peace in the area.

In order to finish the administration’s goal, he then urged the APC North East Forum to support Tinubu in the 2027 presidential election.

Borno State lead representative Babagana Zulum also lauded Tinubu’s efforts to address Northeastern insecurity.

According to Zulum, Tinubu’s administration is working to bring peace back to the area, and the fruits of their labors are becoming more apparent.

In order to sustain advancements in a number of areas throughout the nation, he backed Buni’s demand that Tinubu return in 2027.

Nigeria has degenerated to electoral autocracy, and the Liberal Progressive & Patriotic Members Congress, or LPPMC, has noted with dismay that constitutional disobedience is necessary to restore the system.

The Congress emphasized the need for a biometric audit of INEC’s voter register immediately, blockchain-based voting systems to prevent tampering, and live streaming of all results collation in a statement released by LPPMC’s National Coordinator, Dr. Kingsley Okundaye, on behalf of 21 other leaders.

The group decided to seek a constitutional change to penalize judges who undermine electoral fairness and set a 90-day deadline for election petitions, stating that democracy devolves into tyranny when courts legalize electoral heists.

The communique demanded constitutional recognition of power rotation between regions and religions, claiming that northern marginalization has not been addressed in 25 years of democracy.

According to gender policy discussions, LPPMC promises to reserve 40% of leadership positions for women and young people by launching “Democracy Literacy Campaigns” in each of the 774 LGAs as part of its grassroots mobilization efforts.

The 2023 elections shown that rigging is now ingrained,” the LPPMC stated. We have to take action right away or Nigeria will be lost.

It demanded the creation of a 37-state Coalition for Electoral Integrity by July 1 and claimed that the Labour Party’s takeover demonstrated the necessity for additional protections against political predators.

It gave INEC a deadline of August 30 to purify the voter registration and start widespread voter instruction by September 12.

Bello El-Ruafi, a member of the House of Representatives and the son of former Kaduna State Governor Nasir El-Rufai, has acknowledged his naivety in criticizing the administration of former President Goodluck Jonathan.

The representative for Kaduna North Federal Constituency stated that his lack of understanding prevented him from recognizing that governance was indeed taking place during Jonathan’s tenure.

He revealed that he came to this realization after witnessing his father visiting the former president for political discussions.
“I visited my father after becoming a member and noticed him wearing a polo shirt. I inquired, ‘Where are you going?’ He replied that he was going to see President Jonathan, which made me pause. In my naivety, when I prioritized ego or personal gratification, I was very vocal in my criticisms of President Jonathan.
“I even overlooked, as many young individuals do, the fact that governance was occurring at that time, and I heard my father mention that he was going to consult with President Jonathan. I said, ‘Please, when you meet him, convey my sincerest apologies; I have gained wisdom now.’

“The system poses challenges. Now, why do I reference President Jonathan? It requires significant courage, especially in Africa, to lose an election and step down; he accomplished that,” Bello El-Rufai remarked.

He pointed out that there have been advancements in electoral reforms, and as a member of the All Progressives Congress (APC), he indicated that if there is any validity to the rumor regarding an electoral amendment permitting voting without a voter’s card, he would oppose such a measure.

He voiced his endorsement for the enhancement of electoral reforms, including the electronic transmission of election results.

Eleven new Permanent Secretaries have been appointed with the approval of Retired Vice Admiral Ibok-Ete Ibas, the Administrator of Rivers State

Mrs. Inyingi Brown, the Acting Head of Service, made the announcement in a statement.

The official swearing-in ceremony date will be announced soon, according to the statement.

The following appointees were listed in the statement:

1. Imaonyani Roselin Ephraim-George
2. Dr. Mina T. Ikuru
3. Dabite Sokari George
4. Soibitein Duke Harry
5. Lauretta Davies Dimkpa
6. Uche R. Ideozu
7. Chimenum Mpi
8. Jeremiah Egwu
9. Nicholas Iminabo Wokoma
10. Vera Sam Dike
11. Aleruchi Akani

The current strike has been halted by the Judiciary Staff Union of Nigeria (JUSUN), which has directed its members to return to work today Wednesday, June 4, 2025.

The decision to end the strike was made following lengthy discussions on the issues that sparked it and a series of meetings with the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, and other pertinent stakeholders, according to a statement released and signed by the association’s national vice president and ten other association leadership members on Tuesday.

The stakeholders decided that JUSUN should ask the Nigeria Labour Congress (NLC), the CJN, Muhammad Dingyadi, the Minister of Labor and Employment, and other stakeholders to step in.

The agreement said that the union would be able to work with the federal government to guarantee the transfer of cash to the judiciary within a month if the strike was suspended.

Additionally, the communique revealed that “the JUSUN’s demands, which include a N70,000 new minimum pay and its arrears, a 25–35% salary raise, and a five-month wage award and its arrears, will be executed immediately upon the transfer of the monies to the Judiciary.”

The National Assistant Financial Secretary and the Chairman of the JUSUN chapters of the Federal Judicial Service Commission, FJSC, Court of Appeal, Federal High Court, National Industrial Court, National Judicial Institute, FCT High Court, FCT Sharia and Customary Court, and the FCT Judicial Service Commission sign the communique in addition to the JUSUN National Vice President.

Outstanding debts of the Federal Government to electricity distribution companies in subsidy payments increased by N5.3 billion, or 2.7 percent, in the first five months of 2025, to N982.4 billion.

It rose from N196.44bn to N201.75bn, raising the total subsidy debt to N982.4bn between January and May 2025. This underscores mounting financial pressures in the power sector and raises concern over the sustainability of ongoing subsidy interventions.

Figures from the monthly Multi-Year Tariff Orders obtained from the Nigerian Electricity Regulatory Commission showed that the subsidy on power was approximately N196.44bn in January.

It dropped to N193.09bn in February, and N192.7bn in March, before moving up by 2.97 per cent to N198.42bn in April and N201.75bn in May, reflecting a 1.68 per cent increase from April and a total 2.70 per cent rise from January’s level.Our correspondent observed that the increase in subsidy was mainly influenced by a rise in power generation costs and fluctuating foreign exchange rates.The May Multi-Year Tariff Order showed that the Federal Government is still paying about half of the weighted average cost-reflective tariff for customers on Bands B to E. While Band A customers pay over N210 per kilowatt-hour, customers on other bands pay an average of N118/kWh for electricity.

According to the MYTO order, the government will pay a total sum of N24.59bn as a subsidy for customers under the Ibadan Electricity Distribution Company in May, from N24.29bn charged as the subsidy in April. From N28.64bn in April, Abuja Disco customers will get N28.99bn as their subsidy in May. For Eko, Ikeja, and Port Harcourt Discos, the shortfalls are N23.45bn, N27.85bn, and N14.94bn, respectively.Other Discos are Jos, N12.81bn; Yola, N8.05bn; Benin, N16.11bn; Enugu, N15.69bn; Kano, N14.43bn; and Kaduna, N14.789bn.This came as it was gathered that there seems to be no headway yet on the proposed meeting between power producers and President Bola Tinubu.

The idea proposed by the Minister of Power, Adebayo Adelabu, is part of an emergency effort to address the N4tn debt threatening to cripple the country’s electricity supply chain. The anticipated meeting is now highly unlikely to take place until after the Eid holidays, as Tinubu should be in Lagos on Tuesday. His impending trip effectively rules out any possibility of convening before the festivities, pushing the timeline further.Four weeks ago, after a high-level meeting between the power minister and the chairmen of power-generating companies in Abuja, the government pledged immediate action to reduce the N4tn debt owed to power-generating companies.The companies said they were currently owed N2tn for power supplied in 2024 and N1.9tn in legacy debts.

A statement by the minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, stated that the government had resolved to settle a substantial portion of the debt immediately, while the remainder would be cleared through financial instruments such as promissory notes within the next six months. He said this would be proposed in a meeting being planned between Tinubu and the Gencos’ leadership. “There is a need to pay a substantial amount of the debt in cash. At the minimum, let us pay a substantial amount, then ask for debt instruments in promissory notes to pay the rest,” the power minister, Adelabu, said.

The Edo State Chapter of the All Progressives Congress (APC) has declared the appointment of Sylvester Aigboboh as the Acting Deputy State Chairman and Pedro Esangbedo as the Acting Vice Chairman for the Edo Central Senatorial District.

According to a press release from the party’s State Secretariat, these appointments are effective immediately.

This development follows the promotion of the former Deputy State Chairman, Chief Jaret Tenebe, to the role of State Chairman, alongside the defection of Chief Francis Inegbeniki, the previous Vice Chairman for Edo Central, to the Peoples Democratic Party (PDP).

The statement clarified that these appointments align with the party’s constitution and are intended to facilitate smooth and effective administration within the party’s framework.

“In accordance with the provisions of the APC constitution and to maintain the efficiency of the party’s operations, it was essential to appoint individuals of proven character and integrity to these roles,” the statement indicated.

Aigboboh and Esangbedo will serve in an acting capacity until the next State Congress of the party is held.

They are anticipated to collaborate closely with the State Chairman, Emperor Jaret Tenebe, and other members of the party’s executive to provide robust leadership as preparations for the 2027 general elections commence.

The President of the Senate, Godswill Akpabio, along with the Speaker of the House of Representatives, Tajudeen Abbas, have expressed their support for President Bola Tinubu’s re-election for a second term.

Akpabio led a delegation from the National Assembly to endorse Tinubu for the upcoming 2027 general elections during the All Progressives Congress (APC) National Summit held at the banquet hall of the State House in Abuja.

He contended that had the President not performed satisfactorily in his role over the past two years, the legislators would have initiated impeachment proceedings against him.

“If this President has performed well, would it be us to declare it? If he has not performed well, would we not issue a notice of impeachment? We are not issuing a notice of impeachment. The year 2023 was challenging for you, but I foresee a turnaround in 2027,” he remarked.
“Nigerians are expressing that due to your successful handling of a challenging task, it is time to reward you by re-electing you to the presidency for a second term in office.

“Therefore, I propose as the Senate President that Mr. President be returned as the APC’s unopposed flag bearer and as the next president for a second term in 2027.”

Abbas, for his part, supported Akpabio’s initiative for Tinubu’s return as President in 2027.

“I represent all 109 senators, 360 members, and all 36 speakers and their members to endorse this significant motion proposed by the Senate President; I hereby second it,” stated Abbas.
Additionally, during the event, the Progressive Governors’ Forum endorsed Tinubu as their exclusive candidate for the 2027 presidential election.

The motion was introduced by PGF Chairman and Imo State Governor, Hope Uzodimma, and was seconded by Kaduna State Governor Uba Sani, demonstrating a strong sense of unity among the party’s governors in their support for Tinubu’s quest for a second term.

Uzodimma, representing the forum, highlighted their dedication to mobilizing resources and ensuring victory for Tinubu in their respective states.
They conveyed their assurance in Tinubu’s leadership and reforms, vowing to secure their states in the forthcoming elections.

This support comes in the wake of comparable actions by other APC regional leaders, such as the North Central governors who recently expressed a vote of confidence in Tinubu’s administration, commending his developmental achievements and inclusive governance strategy.

The endorsement from the Progressive Governors Forum further strengthens Tinubu’s standing as the APC’s candidate for the 2027 elections.

Nigeria spent about $2.01bn on external debt servicing between January and April 2025, making it about 50 per cent increase when compared to the $1.33bn recorded during the same period in 2024.PUNCH Reports.

The data showed that debt servicing alone accounted for 77.1 per cent of Nigeria’s total international payments within the four months, a sharp rise from the 64.5 per cent share recorded in the same period of 2024.

In total, the country’s international payments, comprising debt service, remittances, and letters of credit, stood at $2.60bn as of April 2025, up from $2.07bn recorded in the corresponding period of 2024.

The figures highlight the increasing burden of external debt on Nigeria’s foreign exchange reserves, which reportedly fell by about $3bn during the review period.

An analysis of the monthly trend shows that Nigeria paid $540.67m in January 2025, slightly below the $560.52m recorded in January 2024. In February, the figure stood at $276.73m, almost unchanged from the $283.22m paid in February 2024.

However, in March, debt service spiked to $632.36m, more than double the $276.17m paid in the same month last year. The trend continued in April with another $557.79m disbursed, representing a 159 per cent increase from the $215.20m paid in April 2024.

Within just two months (March and April), Nigeria spent nearly $1.2bn on debt repayments alone, pointing to a heavy schedule of maturing loans during the period. The sharp rise in obligations suggests the settlement of large commercial or bilateral debts within those two months.

The PUNCH observed that the two-month period coincided with the clearance of an external debt obtained from the International Monetary Fund. The IMF earlier confirmed that Nigeria has fully repaid the $3.4bn financial support it received under the Rapid Financing Instrument to cushion the economic impacts of the COVID-19 pandemic.

In a statement sent to journalists on behalf of Mr Christian Ebeke, the IMF Resident Representative for Nigeria, the Fund said the repayment was completed on April 30, 2025. The loan, disbursed in April 2020, was aimed at helping Nigeria address a sharp fall in oil prices, economic contraction, and fiscal pressures caused by the pandemic.

“As of April 30, 2025, Nigeria has fully repaid the financial support of about $3.4bn it requested and received in April 2020 from the International Monetary Fund under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices,” the IMF stated.

However, despite the full settlement of the principal, Nigeria will continue to honour additional annual payments related to Special Drawing Rights charges. The Fund noted that the country is expected to make annual payments of about $30m in SDR-related charges over the next few years.

According to the IMF, the charges are tied to the difference between Nigeria’s SDR holdings, which currently stand at SDR 3,164m ($4.3bn), and its cumulative SDR allocation of SDR 4,027m ($5.5bn). The charges are levied at the SDR interest rate, which is updated weekly, and will continue until Nigeria’s SDR holdings match the cumulative allocation amount.

Nigeria’s $3.4bn loan from the IMF was one of the largest global disbursements under the Rapid Financing Instrument and came with relatively favourable terms compared to traditional IMF programmes.

Earlier reports showed that debt servicing to the IMF surged to $1.63bn in 2024, made up entirely of principal repayments, with no interest or charges recorded for that year.

Nigeria’s total external debt servicing for 2024 amounted to $4.66bn, up from $3.5bn in 2023. Multilateral creditors accounted for the bulk of the amount at $2.62bn, with the IMF responsible for about 35 per cent of the total external debt payments during the period.

Fitch Ratings recently noted that Nigeria’s external debt service will increase from $4.7bn in 2024 to $5.2bn in 2025. This includes $4.5bn in amortisation payments and a $1.1bn Eurobond repayment due in November.

Fitch noted, “Government external debt service is moderate but expected to rise to $5.2bn in 2025 (with $4.5bn of amortisations, including a $1.1bn Eurobond repayment due in November 2025), from $4.7bn in 2024, and fall to $3.5bn in 2026.”

The agency also cited a minor delay in the payment of a Eurobond coupon due on March 28, 2025, as a reflection of persistent challenges in public finance management.

Although Nigeria’s external debt service remains within manageable levels, Fitch warned that high-interest costs, weak revenue performance, and limited fiscal space remain significant concerns.

Fitch said general government debt was expected to remain at about 51 per cent of GDP in 2025 and 2026. However, it expressed concern over the government’s revenue position, noting that interest payments will consume a substantial portion of income.

Dr. Rabiu Musa Kwankwaso, the leader of the Kwankwasiyya Movement, has formally welcomed 24 retired military officers from Kano State into the movement. This development comes as the New Nigeria People’s Party (NNPP) and its ideological faction, the Kwankwasiyya Movement, navigate a political crisis following a series of defections that have recently affected the party.

The 24 officers, who concluded their notable military careers in January 2025 after 35 years of dedicated service to the nation, have pledged their full commitment to the principles of Kwankwasiyya. During their meeting with the movement’s leader, they expressed their steadfast support for the movement and their intention to contribute significantly to its success in the upcoming elections.

The delegation was headed by Kabiru Haruna, the Executive Secretary of the Kano State Scholarship Board, who characterized this move as a “bold and strategic alignment that underscores the credibility and increasing momentum of the Kwankwasiyya ideology.” In receiving the delegation, Kwankwaso expressed gratitude for their service to Nigeria and welcomed them “with open arms and a heart full of hope.” He commended their patriotism and dedication, assuring them that their experience, discipline, and networks would serve as invaluable assets in fostering a more progressive and inclusive Nigeria. “This is a moment of honour,” Kwankwaso remarked. “These individuals have served our country with integrity and distinction.

They are now bringing that same spirit to support democracy and the populace through Kwankwasiyya. Together, we will forge a brighter future.” The endorsement from such a prominent group of military retirees is perceived by analysts as a morale booster for the Kwankwasiyya movement and a strong indication of its expanding influence ahead of the 2027 elections. However, the recent defection of notable leaders and chieftains from the NNPP, particularly those elected on the party’s platform during the 2023 general elections, has raised concerns regarding the party’s future and the potential implications for its efforts to retain Kano in 2027.

With more than one million votes at stake, the contest for dominance over the commercial hub of Northern Nigeria is undoubtedly the primary struggle in this context. The All Progressives Congress (APC) remains dissatisfied with its loss to the NNPP in the 2023 elections and is determined to reclaim the state in 2027. Observers of the political landscape suggest that the APC’s aggressive efforts to attract NNPP leaders and undermine the party may be a calculated tactic to realize this objective.

Recently, APC’s National Chairman, Abdullahi Ganduje, expressed confidence that the party would secure victory in the state in 2027, particularly following the defection of prominent NNPP figures in Kano to the APC. However, NNPP’s National Publicity Secretary, Ladipo Johnson, asserted that Kwankwaso has no intentions of joining the APC in the lead-up to the 2027 general elections, emphasizing that the former presidential candidate has never considered aligning with the ruling party or the administration led by Bola Tinubu.

The Chinese Ambassador to Nigeria, Yu Dunhai, has applauded a renewed business relationship between China and Nigeria towards exploring the potential of Nigeria’s Solid Minerals sector through the set-up of electric vehicle factories in Nigeria.

Dunhai made this public while paying a courtesy visit to the Minister of Solid Minerals Development, Dr Dele Alake, in his office, where he emphasised the importance of closer ties between both nations in advancing Nigeria’s industrial growth.

A statement by the minister’s Special Assistant on Media, Segun Tomori, on Sunday, unveiled plans by China to establish electric vehicle factories in Nigeria.

The ambassador said Nigeria is a great country blessed with tremendous natural resources, noting that China has always placed Nigeria in a very pivotal position in its foreign policy.

Recalling the recent high-level engagement between Presidents Bola Tinubu and Xi Jinping during Tinubu’s state visit to China, Ambassador Dunhai noted that both leaders agreed to elevate bilateral relations to a comprehensive strategic partnership, creating new opportunities for cooperation.

In his speech, the solid minerals development minister reiterated that Nigeria is open for business to serious investors, stressing that investments in the nation’s mining industry are now focused on local value addition.

He urged the ambassador to encourage Chinese investors to commit to full-cycle investments, from extraction to processing, within Nigeria.

He pointed out Nigeria’s large market and the potential to reduce reliance on fossil fuels through electric vehicle production.

“For years, our minerals have been exported raw to fuel foreign industrialisation. That must change.”

We now prioritise local processing to drive Nigeria’s development. For instance, with the abundance of lithium, we want to see local manufacturing of electric vehicles and batteries,” he said.

Responding, Ambassador Dunhai expressed support for Nigeria’s local value-addition policy, pointing out that one of President Xi Jinping’s key priorities is promoting African industrialisation.

“Plans are underway to establish electric vehicle factories and other manufacturing ventures in Nigeria.

“Chinese companies are already deeply involved in Nigeria’s mining sector, from exploration to processing.

“We aim to deepen this collaboration, especially in line with President Tinubu’s eight priority areas, notably economic diversification through solid minerals,” he added.

FirstBank of Nigeria has disclosed that it has made an upward review of its transaction alert fee from N4 to N6 per SMS.

Details from a memo on Wednesday show that the bank attributed the increase to the recent hike in telecom service costs by network providers.

“We understand that staying connected and informed about financial activity on your FirstBank account is crucial,” the bank stated. “Unfortunately, due to the recent increase in telecom service charges by service providers, the fee for our SMS transaction alerts has been adjusted from N4 to N6 per message.”

The bank acknowledged that the change may cause some inconvenience to customers but assured that efforts are being made to minimise the impact while maintaining service quality.

“We know that this change might cause you some inconvenience, but we are committed to minimising the impact of this change while we continue to provide you with the best financial services possible,” the message read.

The bank encouraged customers with concerns or questions about the adjustment to reach out through its official contact channels.

The adjustment comes at a time when banks are reviewing cost structures following increased operating expenses, including rising telecom tariffs and inflationary pressures across sectors.

The new SMS fee will apply per transaction alert received by customers. However, some customers took to X (formerly Twitter) to criticise the move, especially at a time when other banks are reportedly scrapping similar charges.

Tension has hit parts of Ogun and Lagos states over rumors of deadly rice in circulation.

The public had shared voice notes warning them against buying or consuming rice at this time because a foreign trader had invoked the spirit of Ogun deity after her two trucks of rice were stolen and smuggled into Nigeria.

Reactions from the public had revealed that two trucks of rice were allegedly stolen from a neighboring country and were later smuggled into Nigeria through the Idiroko border and the Seme border.

It was stated that the owner of the bags of rice, a woman, contacted some Ogun worshipers in Ghana to lay curses on whoever buys or consumes the alleged stolen rice.

Unconfirmed reports said that some Customs officers and a soldier had died in Badagry, Lagos State.

It was also alleged by another sender on WhatsApp that over 70 persons had died in the past few days after buying or consuming the said rice.

Imported rice from the Benin Republic remains one of the most consumed staples in Nigeria, especially by children and the youth.

As the warnings keep getting to people in Ogun and Lagos, they pass the same to their loved ones, emphasising to them that rice must not be consumed or bought at this time.

A resident in the Ipokia Local Government of Ogun State, Morayo, told our correspondent on Wednesday that some parents went to schools, telling the food vendors not to sell rice to their children.

As some individuals tried to debunk the rumor, more voice notes came from different people, claiming their alleged confirmation of the deaths.

This has left many confused as to whether to buy rice or not.

However, the Nigerian Customs Service in Lagos and Ogun debunked the claims, saying there was no deadly rice in circulation.

In a statement by the NCS, Seme Area Command, Public Relations Officer, Isah Sulaiman, said the narrative was entirely false, misleading, and did not reflect the reality of the matter.

“The attention of the Nigeria Customs Service, Seme Area command, has been drawn to a widely circulated unfounded and baseless allegation claiming that the Command seized and distributed bags of rice without the knowledge of the purported owner, who then allegedly invoked traditional powers leading to the death of individuals, including a soldier at Badagry.

The Senate has ratified the appointment of five Resident Electoral Commissioners proposed by President Bola Tinubu in March for the Independent National Electoral Commission (INEC). This confirmation came after the Senate received and reviewed a report from the Chairman of the Senate Committee on Electoral Matters during a plenary session on Wednesday. Senator Simon Lalong, representing the Committee, advocated for the Senate to endorse the nominations of five candidates as Resident Electoral Commissioners for INEC, all of whom successfully completed the screening process. The confirmed RECs include Umar Yusuf Garba from Kano State, Sa’ad Umar Idris from Bauchi State, Chukwuemeka C. Ibeziako from Anambra State, Umar Mukhtar from Borno State, and Dr. Johnson Alalibo Sinikiem from Bayelsa State.

On Monday, President Tinubu also administered the oath of office to two newly appointed INEC commissioners. Additionally, the President submitted a proposed ₦1.783 trillion statutory appropriation bill for the Federal Capital Territory (FCT) to the Senate for review and approval for the 2025 fiscal year. In his message to the Senate on Wednesday, President Tinubu requested that the bill be considered promptly, emphasizing that its approval is essential for fostering an efficient and service-oriented administration for FCT residents. In response to this request, the Senate invoked Order 78 to permit the bill to undergo its second reading on the same day it was presented.

However, this expedited process faced criticism from opposition lawmaker Senator Abdul Ningi, who expressed concerns regarding the procedure outlined in Order 77 (3 and 4), highlighting that lawmakers had not received copies of the bill before the debate. Consequently, the Senate commenced discussions on the general principles of the FCT Statutory Appropriation Bill for the 2025 fiscal year.

During the discussion regarding the bill, Senate Leader Opeyemi Bamidele articulated that the proposed legislation aims to authorize the allocation of ₦1,783,823,708,392.00 trillion from the FCT Administration’s Statutory Revenue Fund to support personnel, overhead, and capital expenditures for the period spanning from January 1 to December 31, 2025. The budget is detailed as follows: ₦150.35 billion designated for personnel expenses, ₦343.78 billion for overhead costs, and ₦1.29 trillion earmarked for capital initiatives.

Bamidele emphasized that the fundamental goal of this budget is to foster an effective and sustainable service-oriented administration, with a particular emphasis on the completion of ongoing projects that significantly enhance infrastructure and essential services in Abuja.

The Central Bank of Nigeria, in partnership with the Nigeria Inter-Bank Settlement System, has unveiled the Non-Resident Bank Verification Number platform a new initiative designed to boost financial inclusion for Nigerians living abroad

This new system allows Nigerians in the diaspora to register for their Bank Verification Number remotely, eliminating the need to be physically present in Nigeria.

At the launch event in Abuja, the CBN Governor, Mr. Olayemi Cardoso, highlighted the platform as a significant milestone in advancing Nigeria’s financial inclusion agenda. He emphasized that the Non-Resident BVN will help resolve the persistent difficulties experienced by Nigerians in the diaspora who previously were required to be physically present in Nigeria to complete their BVN registration.

The Governor said that, “For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements.The NRBVN changes that. Through secure digital verification and robust Know Your Customer processes, Nigerians worldwide will now be able to access financial services more easily and affordably.”

Cardoso further added that the platform is not only designed to improve access to financial services but also to contribute to building a more inclusive and forward-looking financial ecosystem.

He stated that, “We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally. This platform is not just about financial access, it’s about national inclusion, innovation, and shared prosperity.”

Cardoso also pointed to a notable increase in remittance flows, which rose from $3.3bn in 2023 to $4.73bn in 2024. He attributed this growth to a series of recent reforms, particularly introducing the willing buyer, willing seller FX regime. He added that with the introduction of the NRBVN, the CBN is aiming even higher, setting a target of $1bn in monthly remittances.

The event also featured a presentation by the Managing Director and CEO of NIBSS, Mr. Premier Oiwoh, who outlined the technical and operational framework of the NRBVN platform. He assured that the system aligns with global standards, incorporating strict Anti-Money Laundering and Know Your Customer measures to ensure both transparency and security.

Also speaking at the event, CBN Deputy Governor for Economic Policy, Mr. Muhammad Abdullahi, described the NRBVN as a game-changer for enhancing banking access for Nigerians abroad. He called on stakeholders to work together in continuously refining the platform to better serve the diaspora’s evolving needs.

The NRBVN platform is part of a wider initiative that includes the Non-Resident Ordinary Account and Non-Resident Nigerian Investment Account, which provide Nigerians in the diaspora with access to a range of financial services, including savings, mortgages, insurance, pensions, and investment opportunities in Nigeria’s capital markets.

With the current regulations, diasporans will have the flexibility to repatriate the proceeds of their investments. The launch of the NRBVN platform signals a significant move by the CBN to deepen financial inclusion and harness the economic potential of Nigerians living abroad.

The Nigerian Senate has passed the remaining two tax reform bills, bringing the total to four, in line with recommendations from the Presidential Fiscal Policy and Tax Reforms Committee. The legislation passed includes the Nigeria Tax Bill 2024 and the Joint Revenue Board Establishment Bill.

With the passage of all four bills, the country’s fiscal policy and tax reforms are now firmly on course. A National Assembly committee has been constituted to harmonize any differences between the Senate and House of Representatives versions.

This marks a key milestone in reshaping Nigeria’s fiscal landscape and boosting investor confidence through more transparent and effective taxation. The bill is expected to transform Nigeria’s tax landscape from the Value Added Tax (VAT), Company Income Tax, and Personal Income Tax systems. It is also designed to support a more productive and inclusive economy by modernizing tax administration and promoting greater equity.

These tax reform bills form a central pillar of the federal government’s economic strategy under the Renewed Hope initiative, which is focused on improving fiscal sustainability and establishing a more structured and efficient tax system. Once signed into law, these reforms are expected to enhance governance, improve tax compliance, and significantly boost national revenue, reinforcing the administration’s drive toward economic modernization.

President Bola Tinubu had initially forwarded the bills to the Senate as part of his broader agenda to overhaul Nigeria’s tax system and strengthen revenue collection processes. Senate President Godswill Akpabio commended the legislative milestone, stressing the importance of the bills in reinforcing governance and streamlining tax administration.

Dame Patience Jonathan, the former First Lady, has expressed her commitment to support President Bola Tinubu in his re-election bid for 2027, dispelling rumors regarding her husband, Goodluck, potentially running again under the Peoples Democratic Party (PDP) in the upcoming elections.

She has ruled out any possibility of returning to Aso Rock Villa, stating her intention to campaign alongside Senator Oluremi Tinubu, the current President’s wife, in preparation for the 2027 elections. Mrs. Jonathan emphasized the importance of rotational leadership, advocating for the ‘turn-by-turn’ approach as vital for fostering national unity. This announcement was made during an event in Abuja on Saturday night, where she received the Women Icon Leader of the Year Award from Accolade Dynamics Limited, while acknowledging the President’s daughter, Folashade Tinubu-Ojo, the Iyaloja-General of Nigeria.

Dame Jonathan remarked, ‘I intended to call her first, but I saved her for last: the daughter of our esteemed President, the one and only we believe in – President Bola Tinubu. Iyaloja, I appreciate your support for women; these women are your responsibility. We stand with you unwaveringly. We will follow your lead.’ She reiterated her decision to support the First Lady and her husband instead of seeking a return to Aso Rock.

Anambra State youths on Thursday sang the praises of President Bola Tinubu during his visit to the state on a working visit to commission projects executed by the administration of Governor Chukwuma Soludo.

While Tinubu was about rounding off his speech, some young persons began chanting in Pidgin English that he was their father, an allusion to the president as father of the nation.

“Na our papa be ds o, we no get another papa,” they sang.

Picking up from where he left off, President Tinubu acknowledged them, saying: “Thank you, God bless you.”

The projects commissioned by the president include the Emeka Anyaoku Centre at Nnamdi Azikiwe University, the new Government House, the Solution Fun City, and the 8-lane Aroma-Government House Boulevard in Awka.

Tinubu described Soludo as a “friend” and “visionary leader”.

“Soludo is here providing solution and that solution is in infrastructure and in carrying people along in the area of development. Serving people and building institutions. This is all about democracy, it is about prosperity. It is environmentally responsive governance,” he said.

“Well done, Mr Governor, for reflecting the quality of governance for the people of Anambra.

“Anambra is achieving great heights. Building our tomorrow, today. A leader like Governor Chukwuma Soludo placing Anambra on the path of 21st-century development.

“You are a good thinker, you are a solution provider. We can go places together. Building Nigeria. Building the future. Using technology to build and reflect good governance on the people. Promote investment. We must encourage good governance.”

Source: Vanguard